Gold Sails Past $1,100

Remember when gold was selling at $275 an ounce and the "experts" were saying it was a lousy investment? Remember when gold was at $750 an ounce and heading for $1,000 and Wall Street brokers were saying it had topped out? Remember when gold went ABOVE $1,000 and stock brokers were saying the gold rush (which they had denied ever existed) was over?  :-)  

Gold is up at the opening bell this morning $10. Gold is currently selling at $1,117 an ounce! 

The US$ which has had its fame is slowly sinking in the West. Once it becomes obvious that it is worse than FIAT money, its TRASH, then gold can really take off. The US$ has fallen to the $74.90 level while the Euro is now over $1.50. My web site introductory banner prediction of $1,500 gold which has now been there for some 4-5  years, isn't looking so impossible now as compared to when gold was at $600 an ounce.  :-)

We are living in unprecedented times. As Richard Russell wrote yesterday, "I've been on this earth for almost 86 years. I was around during the Jazz age, I was around during the Great Depression, I participated in World War II, I struggled through the post-War recession, and starting in the mid-1940s I was an intense student of the stock market. What's happening now is the greatest transfer of power and wealth that I've seen in my lifetime."

The world is awakening to the US con game of printing money, spending trillions that we don't have and then borrowing from them with money that have lost 98% of it's value in 90 years. Nations today realize that too many dollars were being created, all in an effort to levitate the sinking US economy. Too many dollars means a weakening dollar. Almost every nation possesses dollars as part of their reserves. As the dollar weakened, nations sought to diversify out of dollars -- and into other currencies including gold.

Goldman Sachs coined a name for the new powerful nations. They were called the BRICs -- Brazil, Russia, India, and China. These BRICS and now falling on our head!

The Financial Times recently quoted Luis Ignacio Lula da Silva, Brazil's president, as seeing inspiration in the model of the EU, noting that only two generations ago France and Germany were at war. "That's how we will build a strong alliance among the BRICs. At our first meeting I suggested we should begin trading in our own currencies. We don't need the dollar. It's just cultural, and it can change."

It's not just the US$ that is FIAT-TRASH, it's that ALL PAPER currency is worthless. Is there any wonder that GOLD has been advancing and furthermore, will continue to do so?