Last year at this time, the price of gold was about $825 and ounce. Earlier this year, when the credit crunch first hit, and Bernankie started cutting the interest rates, gold skyrocketed past $1000 an ounce.
Bush and the Feds did a lot of these "stimulus" things to try and keep the stock market propped up through the election. Gold went back down to a low of around $785 earlier this month.
And last week, it was in the $800 range. IF THE WORLD MARKET HAS CONFIDENCE IN THIS BAIL OUT PLAN, GOLD WILL GO DOWN IN PRICE (OR STABILIZE). If the world market DOES NOT have confidence in this plan, GOLD WILL INCREASE IN PRICE as investors look for somewhere to put their money OUTSIDE the stock market.
The insiders know what is up...and if you want to know what the REAL insiders like major financial institutions and governments...WATCH GOLD! If they announce the plan, and gold goes up and is above $900...WATCH OUT!!! (ZD says gold WILL be going up.)
ZD says when it's above $900, it ain't good. ZD feels over the next year, gold will be WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAY higher than it is today as the U.S. economy makes this global adjustment which technology has caused.
HAVE YOU EVER SEEN U.S. BANKS FALL LIKE DOMINOES AS THEY HAVE BEEN DOING THIS YEAR? Do you think the government can bail its way out of it of this?
Wish I had some money to invest in gold.
We're gonna look back and laugh at how people were even disussing whether any of these bailout plans are going to work. I heard someone on a news show say, "I'm putting more money into the stock market." Have fun! I think that person is the biggest idiot on the planet.
IT'S OVER KIDDIES!
SUMMARY: Zuma Dogg has zero confidence that the government will be able to come to terms and take the actual measures it will take to slam the brakes on this crisis. They are not going to stop the other guy from being greedy and continuing trying to hang onto the gravy train.
Like anyone who is addicted...there is only one way you stop. When you run out of money. So while the government continues to point fingers and access blame and let us all know what the real problem is (corruption/greed/cronism/ineptism) -- FREE MARKET FORCES WILL TAKE OVER AND MAKE THE ADJUSTMENT ITSELF. You cannot ask a group of irresponsible teenagers to cut back on talking on the cell phone, texting, buying phone and iPod accessories and spending frivoulously: But when their parents are broke and they are being evicted and their allowance is cut to zero...it all comes to an end.
Villaraigosa is still living in denail. It's kinda cute. He's out there pretending he's gonna hold an outdoor concert at the local ampitheather, even though the weather forecast says a hurricane is headed for the area. But Antonio is saying, "We're not going to let a little rain stop the show." So the concert carries on, the hurricane hits a few minutes later, and everyone is wiped out.