We now have Freddie and Fannie being propped by the Fed. * Bear Stearns bailout...Merrill or Lehman next? * 11 banks so far requiring Fed takeovers; more to come. * Ford, GM with their hands out * 70 trillion in entitlements to retiring boomers * Hemorrhaging cash in Iraq * According to at least one Fed chairman, the US is technically bankrupt. * David Walker, former head of the GAO, has also tried to warn of the dire situation...only to fall on deaf ears. * China and Russia, among others, have been loading up on gold. * All fiat currencies have eventually failed throughout history. So who thinks gold and silver might be used as a store of wealth once again? Could the price of these precious metals be artificially suppressed for political reasons? If those who hold contracts chose to take delivery, would the sellers be able to produce?
oh oh ... this dude obviously is surfs arch nemesis ! -Gold will march in three up legs to $1,750 per ounce and Silver to $41.30 per ounce by March 20, 2009- posted on cbsmarketwatch today as a comment on where gold and silver will go by someone who prob never reads us here on ET
Looks like surfer's projections may just happen earlier than the 4.1.2009 deadline. I hear he is know saying gold at 450 by 2010, but am not sure of the source. he seems to have vanished from the earth, likely at sea or somesuch..... Hudson Rat
Dumb that marketsurfer's predictions are on their way to coming true? I am not sure what you mean.... Hudson Rat