Gold prices to more than $3,400 an ounce within the next....
From The Times September 19, 2007 Chief strategist at CLSA predicts record gold run Leo Lewis in Hong Kong
It would be the biggest run on gold since the attempted French invasion of Britain of 1797 that sent prices through the roof.
The precious metal, long a safe haven for investors, yesterday was predicted by a leading analyst to quadruple within three years as buyers seek shelter from prolonged turmoil in mainstream financial markets.
According to Christopher Wood, chief strategist at the broker CLSA, market reactions and a collapse of the dollar could send gold prices to more than $3,400 an ounce within the next three years.
Gold futures last night hit a 28-year high at $733 an ounce, but are more than $100 short of the record. Mr Wood said that the sub-prime conflagration would be the catalyst for a wider breakdown in markets.
However, Wood predicted that investors would soon realise that the sub-prime crisis is simply the catalyst of a much wider breakdown, arguing that it has been the “Archduke Ferdinand assassination event” that sparks a bigger calamity.
“This is not a sub-prime crisis. Sub-prime has merely exposed the bigger scam of structured finance; a scam that is about pretending that bad credit is good credit,” he said.
What is cash worth in hyper-inflation?
Ex: Prior to the Hyper-Inflation in Germany in the 20s,,a German worker retired with $60,000 and a pension. After the hyper-inflation got going the bank sent him a check for the $60,000 with a letter saying his acct was to small to handle. The stamp on the letter?... $100,000
Play it safe and stay in Gold mining -
Politicians can't stand seeing the value of their own home dropping ever month,,,, they will stimulate and when that doesn't work they will stimulate some more, again and again and again---until we go over the cliff into hyper-inflation.
GOLD the real value about fiatz$35,000.-/oz today....
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