It's never good news for the US Dollar when gold is rising to new highs.
Gold futures rose above $1,660 an ounce on Tuesday, moving in the opposite direction to a weakening U.S. dollar after China’s economy grew at a rapid clip in the fourth quarter, easing fears of a hard landing. Gold futures for February delivery rose $33, or 2%, to $1,663.80 an ounce in electronic trading on Globex Tuesday. U.S. markets were closed for a holiday on Monday.
Gold tops $1,660 as dollar slides on China data - Metals Stocks - MarketWatch
America is currently in a currency collapse. It does not matter how many degrees or what skills or education you have. All sorts of people are on the Internet now complaining about lack of work, high education and debt. The problem really is not about labor movements to India / China although I do believe that is a contributing factor. The US and the rest of the world are in a currency panic that is making investors and spenders (average citizens) move into the mentality of "storing nuts for the winter." All US economic activity is driven by sales revenue and businesses are sitting on a large pile of cash which they could use to hire people. I believe they are holding onto this cash because a new currency is coming and their current holdings will be structurally devalued with a "old money" trade in ratio say 10:1 or 100:1. So if you have 100 million in the bank you will now have 1-10 million in the new US dollars.
ReplyDeleteYou can see the image of the new money and the relevant analysis below. All major businesses are in on the cash-sitting game, so I figure they all have inside info. on a future event -- which is why they are holding their cash, to maximize the trade in value so they do not default on their AP (liabilities).
http://www.newmoney.gov/
" ... the FED is expecting as is the treasury that the US Dollar is not going to be the reserve currency of the world in about a year and a half may be less ... "
http://bobchapman.blogspot.com/2011/11/bob-chapman-new-dollar-is-underway.html
http://chasvoice.blogspot.com/2011/11/new-us-dollar-is-underway-reports-bob.html#axzz1jmL0H2zH
They are actually printing a new physical paper money supply which will have a different economic value than the current federal reserve notes. This is why no education, experience or resume skillset will get you a job no matter how hard anybody tries. People are screaming on sites like reddit and other about having PHDs and being broke/homeless/unemployed. If these people are in the toilet the rest of us are totally screwed.
If you are holding dollars in savings you need to eliminate those now and buy commodities. As you know I work in IT and many people in Seattle have had the inside scoop for years now, even decades about what these people are planning and all of the old mega-rich Microsoft people have homesteads (farms, crops) and private land they will go to during the currency transition. I think a lot of them expect panic, riots, and general chaos.
A friend of mine recently told me all of the big IT people in Medina have underground bunkers in their houses for such a contingency if they cannot escape to their private rural estates in time. I heard this firsthand from a insider. I live less than 60 min. from redmond HQ and close to all major companies.
Don't doubt what I'm saying read your history books it has happened before and will happen again ...