gold to $5,400??? http://inflation.us/goldcouldriseto5400.html i dont agree with this, just thought id share with you guys
Smoke and mirrors with a little bit of the "fear factor" thrown in. Unsettled economic times and these guys are just lovin' it....
That reminds me of a book written a few years back where the authors were predicting a dow jones going to 35000.
I wouldn't discount it, although I don't think it will happen soon. When you consider that there have been several failed Treasury auctions recently where the Fed had to monitize the debt, and Congressional hearings recently revealed that the Fed gave $900billion to foreign central banks to purchase Treasuries, and the Fed has been buying agency debt in return for promises from the seller to put the proceeds into Treasury bonds, and that the dollar carry trade has exploded because of the ZIRP, and the US has concentrated most of its borrowings at the short end of the curve because it believes it too is too big to fail and thereby risks default if interest rates are permitted to rise, then it becomes clear that there is no possible exit strategy from the current situation that will not result in a major hit to the dollar. Sure, the powers can force down the gold price in the short run. It is overdue to try to break the back of gold. But this would be a buying opportunity. How much more do you need? Wake up people. The major foreign gold buyers have. Every other nation in history that has done what the US is doing has experienced a currency crisis at best, and frequently far worse. It is said that insanity is doing the same thing over and over and expecting a different outcome. The US is in the process of doing so, thinking we are immune from the laws of economics.
