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Marc Faber: ’Bernanke is gold buyers best friend’

Marc Faber: ’Bernanke is gold buyers best friend’

http://youtube.com/watch?v=5J-kNTKuy9s

 

Gold Advances in Asia on Inflation Concerns After Fed Statement

Dave McCombs
Bloomberg
March 21, 2008

Gold gained for the first time in five days as some investors judged yesterday’s decline to a one- month low had gone too far given prospects that inflation will accelerate, boosting demand for the metal as a haven.

The Federal Reserve as of March 19 lent $28.8 billion to the biggest U.S. securities firms to try to stabilize capital markets, in its first extension of credit to non-banks since the Great Depression. Pumping more money into the banking system may fuel inflation and demand for precious metals and other commodities.

“Fundamentally, the charge forward is still there,’’ Peter McGuire, managing director at Commodity Warrants Australia, said today in a Bloomberg Television interview. “The time to buy is on the dips.’’

Gold for immediate delivery gained $9.71, or 1.1 percent, to $920.24 an ounce as of 4:26 p.m. in Tokyo. Silver for immediate delivery gained 0.7 percent to $16.90 an ounce.

A weakening U.S. currency has also benefited gold. The dollar has lost 16 percent against the euro in the past year as the Fed lowered its target rate to 2.25 percent. The central bank is cutting rates and pumping money into the banking system to prevent the worst housing slump in a quarter of a century and widening losses in credit markets from tipping the economy into a recession.

The steps have also prompted concern U.S. inflation may accelerate. Excluding food and energy costs, consumer prices rose 2.3 percent in February.

Given the scale of gold’s rally in recent years and the pace of inflation, the precious metal “should be at $2,500’’ an ounce, on an inflation-adjusted basis, McGuire of Commodity Warrants Australia said today. “We think it’s got a long way to go.’’

Read Full Article Here

 

Metal Exchange Closes Website Due to Overwhelming Demand

The National Expositor
March 20, 2008

Don’t be fooled by the central banks dumping of gold and silver reserves in order to halt the rise in metal prices. The lowering of interest rates by the Fed this week only opens the door for more printing of dollars backed by nothing. The illusion the Fed is trying to create of a strong dollar while at the same time pushing a policy of printing unlimited quantities of cash can’t hold for long. The reality is driven by the market, and the market is running dry. Every supplier of silver and gold is running out due to huge consumer demand to trade in worthless dollars for something that will hold its value. Below is the statement from APMEX.Com, the American Precious Metals Exchange. They cannot keep up with demand and are begging people to sell them metal to keep up. It’s a great time to buy on this artificial dip in prices.

Silver Shortages Reported
http://news.silverseek.com/GoldIsMoney/1205995646.php

Rumors Of Gold’s Demise Greatly Exaggerated
http://prisonplanet.com/articles/march2008/031908_golds_demise.htm

Gold Sinks 6%
http://www.guardian.co.uk/feedarticle?id=7398105

 


2 Comments so far
Leave a comment

we are small scale gold miners in Bamako Mali.
we have about 26 to 50 workers.
We are looking for gold dust buyers.

Soudu Keita,
manager

Comment by soudu keita

we are looking for a buyer we have big stock we can export and supply you,call number.00220995303

Comment by lamin.sawaneh




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