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» Gold Glitters:

Gold Glitters

Posted by on May 12, 2010 at 4:02 pm.

The price of gold hit an all time high on Wednesday as investors begin to realize just how worthless paper currency really is: http://finance.yahoo.com/tech-ticker/gold-surges-time-to-climb-on-board-or-is-the-party-just-about-over-484332.html?tickers=gld,ABX,GDX,%5Edji,%5Egspc,FCX,NEM&sec=topStories&pos=8&asset=&ccode  According to Jim Sinclair the physical market for gold is now smashing the paper market: http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/6_Jim_Sinclair.html That is people are now taking delivery of their gold purchases. The trillion dollar bailout has done more harm to the Euro than good. The value of the Euro is lower than it was when the crash occured on Thursday: http://finance.yahoo.com/q/bc?s=EURUSD=X+Basic+Chart&t=5d  A trillion dollars can’t save the Euro because those dollars are nothing more than digits on a computer screen. Even though the dollar is rising versus the euro the price of gold in dollar terms continue to rise. I believe the dollars fall will come. Right now it is only rising by default. That is, there is no where else for investors to go. All of this is making gold the true currency of choice.  It has all of the of properties that make it a true currency.  It is a true store of value and a medium of exchange. The timing and the strength of the jump in gold is starting to scare some very smart people.  This is a warning to all of us. Prepare, prepare, prepare. Many people don’t want to here this.There are those who asked not to receive my emails, there are those who looked at me and shook their heads,  there are those who laughed at me. If you are reading this than you CAN DO SOMETHING TO PREPARE YOURSELF for what may be on the horizon.  First of all start praying. Pray for an answer to this mess and pray for the strength to endure. Next, buy some extra food, have at least one gun and plenty of ammo, store water, buy gold and silver any amount that you can afford will help.   Start a network of like minded friends so you can help each other out if the worst case scenario plays out.  This is not a prediction, it’s just a warning to PREPARE!

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