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Hyperinflation Catalyst For $2,000 Gold
Wall Street bailout, overprinting of dollar will cause commodity to soar says 40-year market veteran
Paul Joseph Watson
Prison Planet
Monday, October 6, 2008
40-year market veteran and fund manager Robin Griffiths of Cazenove Capital Management predicts that the overprinting of dollars as a result of the Wall Street bailout will act as a catalyst for gold prices to rocket to $2,000 an ounce, as demand for precious metals outstrips supply amidst rumors of market manipulation.
Griffiths said that as the world deleverages, dollar strength could drive gold prices down to $750 an ounce, but that this would be the bottom and it would represent a great buying opportunity.
“Once we get through the crisis, people will realize they’ve printed an awful lot of dollars, too any dollars, and thrown them from a helicopter window – we need to hedge the risk of too many dollars around and real stuff is the way to do that and gold will be an excellent way,” Griffiths told CNBC this morning.
“I think we’re coming up to re-test that $750 low and that’s going to be a buying opportunity, and if this is correct on a 12 month view from here, we’ll go straight off the top of the chart and eventually I’m thinking a target of $1400 to even the $2000 range,” said Griffiths, admitting that the forecast had caused him to become a gold bug.
(ARTICLE CONTINUES BELOW)
A recent Reuters snap poll of traders, analysts and industry officials predicted a more modest rise of 6 per cent over the course of 2009 to around $959 an ounce.
However, as the website goldprice.org points out, the demand for physical gold is frantic and people are willing to pay premiums of $50 or more to get their hands on the precious metal.
“That casts the validity of the paper price into doubt, and points to some government manipulation holding down the price, so the weakness of their rescue operation won’t be called into question by a gold price over $1,000,” states the website.
The potential for hyperinflation is a very real threat, and it has led to a spike in gold purchases. The Royal Canadian Mint recently sold out of one ounce gold bullion bars in what tellers described as a “crazy” demand to own the precious metal.
Michael Levy, a gold broker based in Surrey, B.C., said the volume of people purchasing gold is at its highest since the inflation scare of 1979. “People were buying then because of inflation, now because of a growing distrust in paper currency,” he said. “It’s a different mentality but the same rush.”
As the istockanalyst.com website highlights, massive economic correction has routinely been preceded throughout history by a gargantuan demand for gold and silver bullion.
“All through history, every time major confidence is lost in fiat based economies, when those economies face massive corrections in terms of either hyperinflation or deflation, people flock to gold and silver bullion,” states the website.
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34 Responses to “Hyperinflation Catalyst For $2,000 Gold”
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October 6th, 2008 at 5:53 am
Hang on to those Ron Paul coins…
October 6th, 2008 at 5:54 am
The rush for gold is “fool’s gold.” The gold supply is being manipulated by the Federal Reserve and her back-pocket banking partners. A much better ploy to save the value of your money that strikes back at the bailout thieves is to exchange your dollars for actual real paper currency from a foreign nation, not a currency swap, but the actual printed bills themselves. As our dollar collapses due to the criminal actions of our treasury your money’s value should rise with the tide.
October 6th, 2008 at 6:09 am
I’ve heard one of Alex’s guest say that gold will hit $2000 an ounce, and I didn’t see that happening, until now. As the article tells us, history repeats itself !!!!!!!!!!
http://www.youtube.com/watch?v=wYU4XrHYpeE
October 6th, 2008 at 6:10 am
to support the number of dollars in circulation the us gov will have to purchase enough gold to drive it to 80k/oz, which is a pretty good reason for suppression, i mean c’mon the fed does not want to have toilet paper in exchange for all of their effort?
October 6th, 2008 at 6:35 am
This is the first time in known human history that there is no currency in the world that is backed by anything tangible. To move to another currency is very temporary situation. It is only the faith of the people that holds it together. When that is gone it becomes worthless. The only real money is gold and silver.
October 6th, 2008 at 6:36 am
You can’t eat gold…
Can’t some moderator do somthing about the ever increasing Youtube and Norad spammers. It is getting real old and annoying to see the same message being repeated day after day after day.
To the spammers: continuously pushing the same crap trough the lurkers throats will only lead to them turning away from it. If you must use these forums as billboards, than don’t overdo it.
October 6th, 2008 at 6:46 am
People should be suspicious when someone, who may gain from certain market movements, gives advise or tells what he thinks is going on. A point in case is that an individual recently posted a false rumour that Apple’s Steve Jobs had died from a heart attack at CNN iReport. This resulted in a vertical slide of Apple stock which lost 9% of it’s value before Apple was able to react to the rumours and tell that Jobs was still in good health.
October 6th, 2008 at 6:56 am
Fully agree about the Spammers, its getting annoying. Well said Nosferatu, we need people on here, not being pushed away by hammerhead advertising. CD, UK
October 6th, 2008 at 7:25 am
Read my lips, kids. THERE ISN”T ANY GOLD TO BUY> NONE>
October 6th, 2008 at 7:29 am
This is exactly WHY I put up CashforGoldScams.com and CashforSilverScams.com, because I believe there’s an emerging threat of “We The People” being tricked into trading our precious metals/jewels etc..in exchange for worthless Fiat money printed by the US, which is no longer backed by the Gold as it was way long ago!…Let’s not forget how this all started!
Bankers kept our gold and issued paper receipts… Now the way it’s fixed we cannot even go to the bank as we hear it’s about to FAIL and get our money out! I smell a Revolution in the making!!
October 6th, 2008 at 7:58 am
“They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason”
http://www.youtube.com/watch?v=uw5dP5gy2Vs
–The Cornbread Mafia
October 6th, 2008 at 8:04 am
http://ca.youtube.com/watch?v=Bw32XCw_AvM
October 6th, 2008 at 8:07 am
Suggestion;follow the money exadus to Israel
All the moneychangers are converting their Uros/Dollars to Shackels and buying Kosher properties. Did you know that these vermin crooks once living in Israel—no country can extridate a known crook from Israel.
FYI: Lehman Brothers just one week prior to the bailout sent $400 billion into Israeland the bailout plan was written months ago.
Suckers! United Tits for Israel :^)
October 6th, 2008 at 8:07 am
http://bullion.nwtmint.com/
I’ve used them several times. They are a outstanding outfit.
October 6th, 2008 at 8:15 am
You can’t eat gold but on the other hand you can’t put $20000 of food in your pocket and split. Laying in a supply of storable food is good but do you really want to hang around 5 years if it’s bad enough that you need it? I have some cash some food some silver and some some gold. By the time I’m down to the gold I plan on being elsewhere.
October 6th, 2008 at 8:44 am
Oh bills got it figured out..EVERYONE LISTEN TO BILL, HE KNOWS WHAT HE’S DOING! Shove it up ypur ass bitch, nobody fukin cares what you are doing.
October 6th, 2008 at 9:10 am
Ambrose Evans-Pritchard:
World is only days away from financial meltdown
By Ambrose Evans-Pritchard
Last Updated: 11:05AM BST 06 Oct 2008
http://www.telegraph.co.uk/fin.....abyss.html
October 6th, 2008 at 9:56 am
I wonder how many gold bricks cheney illegally owns?
October 6th, 2008 at 10:24 am
I dunno how many gold bars that dick Cheney has stolen, but I do know that, as opposed to gold, you can eat him. I fear however that his fat, rotting, evil infested piece of crap body won’t taste very yummy. Maybe it could serve as dog food or be fed to the pigs. In the latter case it’ll have come full circle.
October 6th, 2008 at 10:32 am
The Solution:
1. Get the fuc* out of other peoples countries NOW. The only good US Troop in Iraq is a dead US Troop, I piss on their dead bodies.
2. Jail the Bush Administration and top Military Generals as War Criminals
3. No more Credit for fatass spoiled Americans to shove more cookies in their fatass mouths.
4. $Trillions in War Crime fees from USA to the innocent Iraqis and Afghanis.
5. Eliminate the FED
6. Eliminate Income Taxes and raise Corporate Taxes back to where they were prior to the Illegal Income Taxe.
7. Get rid of 90% of the Federal Gov and return to State POWER
8. Stop all support of racist Zionist Israel.
9. Hold Israel to account at the UN for its 60+ years of War Crimes
10. Apologize to the world for America’s lies regarding 9/11, Moon Walk, HoloHoax, Vietnam War, Iraq War, South American Atocities ect…
11. Eliminate the CIA and jail/hang those involved with torture and 9/11.
Until Americans can admit and apologize for their war crimes and fascist world domination attempts, no country on this Earth should help America.
America = War Crimes and Murder
I am a former US Marine who would support Iran, Venezuela or Russia before I ever support this fascist War Criminal state of Amerika. The only good thing about America is not its people or country but our “Constitution”. Without the Constitution I could care less what happens to the fatass fascists in Amerika or the country these war criminals support.
Put Bush or Bin Laden in front of me and wait and see just who will be hanging from my tree.
October 6th, 2008 at 10:53 am
Gold’s not our next problem……but it might be out last.
http://mobiusinformer.wordpres.....uncounted/
October 6th, 2008 at 11:24 am
The Aussie dollar has lost 8% of it value in in three months. It just goes to prove that when America shivers, Australia catches the cold.
I say unplug the Australian/American dollar and let the chips fall where they may.
I say let Wall Street fail and let the chips fall where they may.
I finally say that the Neo-con better vacation somewhere else. Aussies are dangerous when we are mad.
October 6th, 2008 at 11:56 am
Ken you’re right but how do we rid ourselves of the powers that be? Corruption is so entrenched.
October 6th, 2008 at 12:32 pm
‘One Mind and One Cause!’
nov.3rd…?
FOX, CNN, MSNBC,..:Breaking News: 6 pm est nov.3, 2008:
“AMERICAN WORKERS STRIKE and SHUT-DOWN the ELECTIONS?”
(do it and Stay away from your job on monday.the 3rd of nov…can the powers that be, run their own dammed system? of course they can’t…but WE THE PEOPLE CAN, and Do run the system!) do ya’ “C” what i mean!
ONE MIND and ONE CAUSE..Together We Stand as ONE..alone we fall; one at a time!
October 6th, 2008 at 1:36 pm
Hi Wizard Of Oz….Actually the fall of the Aussie dollar is a lot more than 8% if you look at the rates from July 6th to the present low. The markets were $1 AUD bought 96 US cents on July 6th and now they are giving 72 US Cents…That is 24 cents in 3 months…..The Banksters are clearly giving taking all citizens for a ride for their own gain..yet again!
It isnt the Australian economy collapsing, it is the US and thus the reverberations are felt the world over as they try anc cripple the greatest free nation in the history of the world (USA). However thanks to the Reserve Bank of Australia – RBA (Run and owned by the Commonwealth, not the Aussie Govt as they claim…and the Commonwealth is run and owned by the Rothschilds, structured similarly to the Federal Reserve), Paul Keating in the 1980’s floating the dollar and the deep NWO entrenchment in both major Australian political parties means they can manipulate us with pure ease regardless of so called sovereignty or supposed independent banking and financial regulations within each nation.
I bet the banksters are having a ball right now inflating and deflating markets and currencies and buying up real assets with their worthless fiat fluff. Just remember NWO…if you keep gobbing up too much, eventually you’ll either throw up or bite off more than you can chew and the free minded non-neocon citizens of the world will be waiting to expose and bring you to justice for the crimes you have committed through the ages.
THE ANSWER TO 1984 IS 1776!
October 6th, 2008 at 4:47 pm
geezzz Ken,
too much cunnilingus in the morning is no good for those beans up your ass boah!
October 6th, 2008 at 5:30 pm
I’ve seen silver bullion purchased locally at more than double the spot price. Often times it can’t be purchased at all.
I would say that is gargantuan demand. And I would say that when this mess plays out all the way, the American dollar is doomed. Perhaps that’s the plan of the criminals at the central bank, but even so, they’re flirting with a real unraveling of civilization altogether.
If your money’s value vaporizes as quickly as it very possibly could, your society could be thrown back to the Stone Age.
Are you really going to continue to let these central bankers keep running this scam on you?
Don’t fight the system:
Replace it
http://www.youtube.com/watch?v=73×8uOXQjag
October 6th, 2008 at 5:59 pm
joanne Says: “October 6th, 2008 at 11:56 am Ken you’re right but how do we rid ourselves of the powers that be? Corruption is so entrenched.”
One at a time is how you get rid of the zionist/neocon fascists. People only do what they are allowed to do. These cowardly arm chair warriors will bow down in utter fear if you slam your boot on their fuc*ing neck. The other little fascists will scurry in fear once they see you are serious. You treat all bigots and fascists the same, with direct forceful action.
The future is for those who take control of the future. These Zionist fascists have planned long and hard for this operation, it is up to us to plan as well.
October 6th, 2008 at 7:23 pm
Ever considered moving to China? The West is nearing it’s end and if WW3 does come about, it will be China and Russia who will be fighting the NWO. Right now the dollar has a high value in Asia. If you move now, you can live comfortably there. So come while you still have time and join the largest army in the world in their battle against the NWO.
October 6th, 2008 at 9:51 pm
R U HIGH?
October 7th, 2008 at 12:51 am
It doesn’t grow on trees: http://www.youtube.com/watch?v=vPS7ksrKk8Y
October 9th, 2008 at 10:35 am
I heard that the banks are getting ready to lock their doors.
October 11th, 2008 at 1:38 pm
I know the root case of this worldwide problem.
Would you like to know?
It’s called overpopulation. The planet cannot continue to support us, so unless we have a worldwide birth stop, we will continue this vicious circle of self destruction.
The longer it takes us to realise this crucial piece of evidence, the more severe the outcome will be. Governments are too irresponsible and ignorant to do something meaningful, they’re only interested in satisfying their selfish sense of greed and lust for power.
It is never too late to act responsibly.
(inspired by the teachings of Billy Meier)
March 13th, 2009 at 8:29 am
Why is it that while the US government is running the $ printing presses at a high rate of speed that the price of gold is stable? This doesn’t make sense at all. With a lot of $ flowing out into the world the price of gold SHOULD be rising in terms of dollars.
Something wrong here folks!