Danger! Will Robinson. Danger! Central Bankers at large.
I wasn’t going to post to the blog today but I’ve got a number of must read items that go into what is going on in the markets today. Specifically, of course, what I track here with the ExactPrice widget: GOLD.
Which, when you see some the graphs, it’s clear that a not for profit attack took place in the early early morning hours.
The spot price right now is $1,817.80. Silver is at $41.67 which is significantly better than it was earlier but it’s still down.
If it is not obvious by now, it should be -an attempt by the Central Banks of the West to derail the rise in the gold price is currently underway.
Every country wants to devalue their currency. In other words, every government around the world wants to destroy its citizens’ savings. This is the madness that passes for PhD level economics. Destroy the value of people’s labor to “stimulate” further indebtedness as wages fail to keep up with the cost of living. But how can every country devalue at the same time?
The biggest fallacy out there is that debt defaults are deflationary, and therefore, gold will collapse.
Debt, blood and fear present golden opportunities – Holmes <- You need to see the first graphic here.