The World According to Gold

Posted by on March 9th 2012 in Bailout, Bart Chilton, CFTC, Federal Reserve, General Economy, Gold, JPMorgan, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

As Iceland ponders a new currency, “There’s really only one currency in this world and that’s gold, period,” declares money manager Stephen Leeb.  “You’re going to need gold, eventually, to buy oil, to buy food, to buy real estate.  Just those three (assets), if you look at the dollars that are now transacted in all energy, food and real estate, you come up with a number like $36 trillion a year.  All of the gold in the world is only worth $9 trillion.  [see above infographic] Looking forward three to five years, you have to come up with $10,000 gold.  You have to.  Everything else is being devalued.  So you come up with very high targets for gold.”

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Seeking Alpha:  324 years of the gold/silver ratio and $195 silver

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Austin American-Statesman/KXAN:  Texas AG freezes assets of gold & silver dealer over fraud allegations/Video

Medill Reports/Fox Business:  Will MF Global haunt CME in 2012?;  Lou Dobbs interviews CFTC’s Bart Chilton

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