ZLATO – signál k nákupu

Currencies in a number of countries are being inflated at double-digit rates, while the gold supply can only be increased at about 1.6% per year. All the gold ever mined, piled up, would form a cube of less than 20 meters, growing by 12 cm per year. Most of the gold in this hypothetical cube is in the form of jewelry. The driving force behind the current bull market in gold is the fact that fiat money is being created some twelve times faster than gold. In 1980, when gold topped out at $850.00, the U.S. M3 money supply was $1.8 trillion. Today, gold is pegged at $800.00, but M3 is now $13 trillion (www.nowandfutures.com). A ratio similar to 1980 puts the potential gold price at $5,600.00.

Central banks are battling the gold price, and they are capable of slowing down its ascent, but they cannot stop it. If they could stop it, gold would still be selling at $260.00 an ounce, the price where Gordon Browne made his last ditch effort, by selling 25 tonnes of British Government gold.

The following are just a few reasons why gold will rise:

• The annual deficit between production versus consumption.

• The Federal Reserve is printing dollars.

• The American government is running a fiscal deficit.

• Congress does not worry about deficit spending.

• U.S. private debt is at a record high.

• Many large banks are over-exposed to derivatives.

• The world is at war against militant Islam. Wars cost money, and always last longer than anticipated. Wars are inflationary.

• The U.S. has gone from a net creditor to a net borrower.

• The U.S. dollar is in a bear market.

• ‘Real’ interest rates are negative. Whenever the true rate of price inflation rises to or above interest rates, gold rises.

• Gold is rising in virtually every currency.

• Central banks, including the U.S., are overstating their gold reserves (www.gata.org)

Zdroj: goldseek.com

21.12.2007

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan