Tag Archives | Currency
About seven months ago I posted a story about the price of gold going up to $5,000+ per ounce. Since then there have been some ups and downs but the price has indeed continued to climb. Today the New York Times carries a Reuters Breaking Views commentary agreeing that we could very well be on the way to $5,000+/oz.:
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It sounds like a gold bug’s dream. But looking back to the last inflation-adjusted peak price in 1980, it’s far from impossible that the gold price could soon go above $5,000 an ounce.
The potential level of a new high can be estimated in several ways. Based on consumer price inflation, the peak of $875 an ounce in 1980 is equivalent to about $2,300 today, almost twice the current gold price. But there’s a case for taking account of economic expansion as well as price inflation. The world’s economic output has increased about sixfold since 1980.
The price of gold has been setting new highs in recent days as pretty much every major currency around the world looks shaky. Gold dispensing ATMs may be a gimmick today, but one has to wonder if gold may not be making a comeback as the world’s favorite and most desired currency. Story via AFP/Yahoo News:
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There’s no mistaking what’s in this vending machine. The well-heeled in the Gulf can now grab “gold to go” from a hotel lobby in the United Arab Emirates, when the need for a quick ingot strikes.
On Thursday, a day after its inauguration, the shiny machine attracted spectators of many different nationalities who gathered to watch whenever an enthusiast was struck with the urge to splurge on a bar of the precious metal.
Abu Dhabi’s Emirates Palace Hotel became the first place outside Germany to install “gold to go, the world’s first gold vending machine,” said a statement from Ex Oriente Lux AG, the German company behind the vending machine.
[disinformation editor’s note: We decided to run this article because of recent wild swings in currency exchange rates resulting from turmoil in the financial markets. We recognize that the author is promoting his website but feel that our readers may still value the information.]
Trading in foreign exchange, or forex, has become increasingly popular in recent years for a variety of reasons. The Internet has become the “Great Facilitator”, but has it also spawned another industry, that of forex fraud?
Unfortunately, the answer to that question is a resounding “Yes”. Foreign currency trading is not immune, not by a long shot. Published figures from federal authorities note that forex fraud has increased dramatically, impacting 26,000 individuals to the tune of $460 million over a period of six years, and that was three years ago. With this kind of “music” playing in the background in the shadows, what must a forex trader do?… Read the rest
The economic doomsters and investment advisers are engaged in a collective hallucination when they see growing value in gold.
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Quick, check out this hot investment tip! For decades now, the Federal Reserve has been suppressing the true value of gold to keep its prodigious impact out of the market, which is currently dominated by fiat currencies like the dollar and light-speed binary code transactions like high-frequency trading. If you stripped away the Fed’s continuing manipulation, gold’s free-market value, currently hovering around $1,000 per ounce, would increase by multiples. Wait, are you yawning? Why are you leaving?
Here’s why: This isn’t news. The Federal Reserve, along with investment banks, hedge funds, governments and even you (yes, you), have not been just manipulating the so-called real value of gold and other financial instruments for decades, you’ve also been manipulating reality itself for centuries. Because gold is just chemical element, or a precious metal as it is called in the business, which means you can’t eat, grow or use it to power your house or car.