Gold Investments Market Update

“Ponzi” Casino Capitalism Discredited – Risk of Global Monetary Crisis

Gold and silver surged last week (up 13% and 15% respectively) as the financial crisis deepened considerably and there was a realisation that the “ponzi” casino capitalism of recent years has critically wounded the US financial system and done serious damage to the global financial system. Gold surged from below $780/oz to close at $861.40 on Friday and has risen again in European trading today to over $882/oz.

A likely close above $900/oz in the coming days should see us rise to $1,000/oz in the next few weeks and possibly sooner than even the very bullish expect.

Even after stocks’ incredible surge on Friday they remained flat for the week (Dow, S&P and Nasdaq) and are set to come under pressure in the coming weeks as the ramifications of the trillion dollar bailouts gradually seeps in.

The dollar, the reserve currency of the world, is also likely to come under serious pressure again as the epicentre of the crisis remains on Wall Street and in the US financial system. Some notable commentators have rightly warned of the possibility of a US default on its huge debt obligations. Given the extent of financial contagion a dollar crisis and wider global monetary crisis is not beyond the bounds of possibility as the unthinkable increasingly becomes more thinkable.

New World Financial and Economic Order

Gold’s safe haven credentials are again coming into their own as the modern incarnation of the global financial and capitalist system is creaking at the seams after years of dangerous “Disney land” leveraged finance. It is arguable that systemic risk has never been as high as this (even during the Great Depression) and unfortunately conditions, particularly in the wider economy are set to get markedly worse before they get better.

Financial contagion is spreading throughout the financial system and most worryingly, it is spreading from Wall street to Main street and on to the global economy. This can only be bullish for gold and those who fail to see this have little comprehension of monetary and economic history and our modern monetary system.

This is not economic Armageddon but rest assured that the old world financial and economic order is gone and will be replaced by a new world financial and economic order – where frugality, savings and prudent investments will be rewarded and leverage, speculation and irresponsible risk taking will be unacceptable. The Anglo Saxon Disney finance of recent years has been wholly discredited and there will be a shift in power towards more sustainable and prudent European and Asian models.

In the light of the continuing deterioration of the financial system and the increasing risk of contagion in the financial system and the wider global economy, gold remains very undervalued and will continue to outperform other asset classes in the coming weeks and months.

http://www.golddrivers.com/alt/charts.asp

Mark O'Byrne

Also on news-goldcore-com

Videos

This Little Known Indicator Says Gold Is Still Set For A Major Rally In 2022

David Hunter Stock Market Prediction – DOW 45,000 In 2022

Physical Gold and Silver – Essential for what’s coming – Lobo Tiggre

Blog posts

Is Gold Starting to Behave Itself?

Gold is doing what it is supposed to do!  Equity markets are tumbling, “NASDAQ 100 Rout Erases $1.5 Trillion in Market Value in 3 Days” reads one Bloomberg headline. The big names such as Apple lost over US$225 billion, Microsoft almost US$200 billion, Amazon and Tesla each lost US$175 billion market value over the three […]

READ MORE

This Little Known Indicator Says Gold Is Still Set For A Major Rally In 2022

If you’ve been looking at the gold and silver prices lately and wondering when the broad-based asset sell-off will take the pressure off, then you will enjoy this week’s offering on GoldCore TV. This week David Russell has been speaking to Patrick Karim of NorthStarBadCharts.com, the website that provides technical analysis for the inspired. Patrick […]

READ MORE

The Fed is all set to battle inflation – Really??

“I think he was…the greatest economic public servant of the era.’ It’s common knowledge that Paul Volcker is a professional hero of Fed Chair Jerome Powell. As inflation in the US climbs, the head of the reserve is working hard to channel some of his hero, but not so much to cause alarm. Unsurprisingly gold […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

This Little Known Indicator Says Gold Is Still Set For A Major Rally In 2022

David Hunter Stock Market Prediction – DOW 45,000 In 2022

Physical Gold and Silver – Essential for what’s coming – Lobo Tiggre

Blog posts

Is Gold Starting to Behave Itself?

Gold is doing what it is supposed to do!  Equity markets are tumbling, “NASDAQ 100 Rout Erases $1.5 Trillion in Market Value in 3 Days” reads one Bloomberg headline. The big names such as Apple lost over US$225 billion, Microsoft almost US$200 billion, Amazon and Tesla each lost US$175 billion market value over the three […]

READ MORE

This Little Known Indicator Says Gold Is Still Set For A Major Rally In 2022

If you’ve been looking at the gold and silver prices lately and wondering when the broad-based asset sell-off will take the pressure off, then you will enjoy this week’s offering on GoldCore TV. This week David Russell has been speaking to Patrick Karim of NorthStarBadCharts.com, the website that provides technical analysis for the inspired. Patrick […]

READ MORE

The Fed is all set to battle inflation – Really??

“I think he was…the greatest economic public servant of the era.’ It’s common knowledge that Paul Volcker is a professional hero of Fed Chair Jerome Powell. As inflation in the US climbs, the head of the reserve is working hard to channel some of his hero, but not so much to cause alarm. Unsurprisingly gold […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE