If the prole scum are financially sound how will we further rape them?
Wednesday, Sept 15th, 2010
Billionaire globalist George Soros wants you to think that investing in Gold is “unsafe” and that the rallies the precious metal has seen in the wake of the economic implosion are abnormal.
While admitting that gold prices could continue to rise following yesterday’s surge on the back of increased inflation figures in the United Kingdom and bad news from a report indicating a weaker-than-expected eurozone industrial production, Soros told a crowd at a Reuters conference:
“It will be very interesting to see if there is a decline in the next few weeks… It’s certainly not safe and it’s not going to last forever.”
“Gold is the ultimate bubble,” Soros said at the New York event.
Soros has consistently made the same statements in the past and has been consistently proven wrong.
Meanwhile, European investment giant UniCredit has upgraded their target price for gold from $1,250 to $1,600 by the end of 2012 – citing “three powerful trends” in the shape of fear over “money printing” at the Fed (QE), the idea that the Euro sovereign debt crisis represents a condemnation of fiat money and increasing demand for gold from China.
Other investors have also echoed these projections.
On Tuesday the gold price traded as high as $1,261.90 and as low as $1,246.
“The U.S. dollar index was adding 0.03% to $81.90 while the euro was losing 0.19% to $1.28 vs. the dollar. The spot gold price was rising $14.30, according to Kitco’s gold index,” writes Alix Steel for The Street.
Silver also experienced a boost, rising 14 cents to $20.31.
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Photo credit: Jeff Ooi via Wikimedia Commons
Steve Watson is the London based writer and editor at Alex Jones’ Infowars.net, and regular contributor to Prisonplanet.com. He has a Masters Degree in International Relations from the School of Politics at The University of Nottingham in England.
This article was posted: Wednesday, September 15, 2010 at 9:14 am