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Gold Hits New Record High of $1,043/oz

Gold Hits New Record High of $1,043/oz

NoWorldSystem.com
October 6, 2009

Gold has hit a new record this morning at $1,043/oz.

Bank of America predicts gold prices will hit $1,500/oz by 2011 and Peter Schiff an Economic Analyst stated he sees gold reaching $1,500 to $5,000/oz, if the trend of gold keeps going up it would mean the dollar is collapsing.

The Federal Reserve will likely raise interest rates soon, the fed’s plan to save the economy is by continuing to flood the market with fiat dollar that are backed by nothing, the economy is slowly being lowered into the ground like a casket. Ever since the country got off the gold standard the dollar has devalued resulting in inflated prices in all commodities.

The sharp rise of gold from under $1,000 to quickly $1,043 is also likely attributed by the recent G20 and UN meetings discussing the hatred of the dollar as the leading currency in the world market and the desire to move toward a new economic World Order by creating a global fiat currency (SDR bonds) that are printed by the IMF.

Owning gold is really a long term investment and a safe-haven when there’s dreary times; with record debt and unemployment, socialism for the banks and auto corporations, plans for mandatory health-insurance, the failed costly-wars in the middle-east and the hawkish stance against Iran and Pakistan.. it’s going to be one hell of a ride in the next few years.

 

Ron Paul on Fox News – “We MUST go back to the gold standard”

http://www.youtube.com/watch?v=nHPSmslIOfc

Gold to hit $1,500/oz in 2011 -Bank of America

 


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