Do you think your ready for $2000 gold? I’m certainly not and by the end of this post I bet you will agree most of you aren’t either. Physical gold is speeding toward the $2k door and there is little anyone can do to stop it. Sure it could dip $200 maybe $300 on the way but mark my words $2k gold is in your near future. Most of my posts describe the benefits of owning gold but today we look at the underside of expensive gold. Today we look at why I’m not ready for $2000 gold.
My recent family vacation found us waking early one morning resting so close to the Pacific Ocean we could hear and smell it. As I read the local paper I could hear my wife and kids chatter about making plans for a sun filled day. But under the chatter I read an article of a middle-aged man who had lost his job, his home, and his dignity all in less than one year. The man told how humbling it is to be unable to afford a few dollars so his son could go on a school activity. He told how his wife and daughter lived in a family member’s garage while he and his son lived in his truck.
As I read the article I found myself thinking this is the underside of everything driving gold. We often picture what a life of extreme gold wealth is like not realizing over 90% of folks around us would be under some form of economic distress. Not wanting to rain on my family’s vacation I hid myself, and shame, somewhere between the classified page and this story I’m describing. The reality is only a few choices separate me from this man and the same could be said about you. I could tell from this man’s sincerity he, and his family, will survive this next depression but will learn the difference between wants and needs.
As you read this and as gold works toward $2000 tens of thousands in Somalia have died of starvation from what is now being called the worst famine of our generation. As gold marches on so will starvation as millions realize true inflation and unfortunately countries wanting to help unable to afford to. Two thousand dollar gold is telling us something and to be honest I don’t want to hear its call. Gold is saying world currencies are abused to the point of worthless and the US Dollar leads the charge. Like refugees, desperation sends currencies world-wide into one of the only safe havens still available, GOLD.
$2000 gold means more unrest like we are seeing across London, Greece, Egypt, etc. $2000 gold means less employed, more homeless, more failed businesses, more school closings, less law enforcement, and no doubt more crime. More identity theft, less fresh vegetables, and higher prices of commodities like milk, grain, and meat. It’s easy for gold holders to celebrate spikes in gold but the true picture leaves little to celebrate. Don’t misread me I’m thankful for making a plan to own gold but the thought of family and friends suffering from severe economic decline is hard to accept. These relationships are more precious than my gold. A wise man once said be careful what you wish for. I’m not sure I’m ready to share my life with $2000 gold.
“Now the only viable option — I don’t mean to make light of it — is to leave the body at the medical examiner office,” Szykowny said. “After 60 to 90 days they’ll take the body to what’s called a potter’s field and bury it in a numbered grave.”
The state of Illinois has reached a new level of broke. Come Monday, it won’t have enough cash to bury its indigent dead. NBC CHICAGO Read it here.
It seems like a scene straight from “The Grapes of Wrath,” but this is no Great Depression novel. This story takes place in 2011, and this New Jersey tent city is one of an untold number of such encampments across the United States, where unemployment has reached 9.3 percent and approximately 3.5 million people are likely to be homeless in a given year, according to the most recent estimates by the National Coalition for the Homeless.
“You’re either rich or you’re poor,” he said. “There’s no in-between anymore.” FOX NEWS.COM Read it here.
“My long-standing forecast, made in a Barron’s interview in October 2003, is that $8,000 per ounce will be reached sometime between 2013-2015,” he told Reuters this week.
“I’ve stayed with that forecast over the years and see no reason to change it.”
The world’s current financial woes are only going to get worse if current policies continue, he believes, meaning the rally in gold prices is unlikely to stop here.
“Politicians and central bankers are making decisions that debase national currencies, and the resulting bad monetary policies they are following are causing the gold price to rise,” he said. REUTERS Read it here.