Tuesday, September 8, 2009

"A PRECIOUS FUTURE"

Today the price of gold in US Dollars crossed the $1,000 mark per ounce with silver also extending recent price gains. I believe that everyone should consider having some of their assets in precious metals as there is a potential inflationary storm on the near horizon fueled by excessive governmental spending and regulations along with the Federal Reserve expanding the money supply at too rapid a rate. The rapid inflation has not started as yet as the demand for business and personal loans has been weak with the banks skittish to lend due to their recent problems with the housing market loan defaults.

I saw today as well that the United Nations wants to establish a global currency to replace the US Dollar. If enacted this will be another "sign" according to the "end times" believers who have prophesied a day of a one world leader with people having a "mark" (microchip perhaps?) implanted in them in order to have permission to buy food and goods.

Gold has stood the test of time as a store of value and a medium of exchange. To ensure yourself a "precious future" you should investigate this asset as a hedge against the potential for further erosion in the purchasing power of fiat(paper) currencies. Although no asset class moves up in a "straight line"; if gold successfully stays above the $1,000 level then this level may turn out to be a new base of support for a higher price move.