The Wall Road Journal recently published an outstanding commentary, "In Gold We Trust," by David Ranson and Penny Russell of H.C. Wainwright & Co. Economics. They describe why gold prices will be the truest barometer of dropping public assurance and of developing inflation. Below are a few tips they bring to mild:
* Gold may be the benchmark for the worthiness of the dollar - certainly not the other method around.
* The falling U.S. dollar is basically being overlooked by Washington and Wall structure Street.
* Gold's sharp climb represents an equally razor-sharp decline in investor self confidence.
* Gold may be the barometer of public self confidence in paper money.
* The dollar's collapse of 60 percent since 2001 is certainly a blow to capitalism.
Bottom brand: The U.S. dollar is certainly slowly but surely but steadily sliding into oblivion, choosing with it the expectations and dreams of most Americans, together with the value of their cost savings accounts and investments.
Most Wall Road pundits check out gold as yet another commodity, that they say is currently overpriced due to an evergrowing gold fever worldwide since 2001, triggering central banks, hedge money and others to get gold for the very first time in decades. Not!
Gold is rising since it is real money. The answer is to convert some of your "paper" possessions into gold - so putting yourself on an individual gold standard.
Rising gold rates today are a huge red flashing transmission of coming inflation, that could take gold rates over $1,000 an ounce. Hence don't wait to get gold - acquire gold and wait around.