Gold could rise over $2000 within the next year

[avatar4321]

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3526645/Citigroup-says-gold-could-rise-above-2000-next-year-as-world-unravels.html

What happens when a legitimate group starts talking about what alot of us conservatives have been worried about for years? I think this really stood out.


The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

Wars? I think its foolish to think this is impossible. Especially when more and more mainstream groups are starting to realize this.

[crin63]

Gold prices have been fluctuating allot the last couple months. It was $830/oz last week and today its at $770/oz. I'm told that the selling prices are staying at the high end though because of the drastic changes.

[Classact]

Gold prices have been fluctuating allot the last couple months. It was $830/oz last week and today its at $770/oz. I'm told that the selling prices are staying at the high end though because of the drastic changes.The Fed and the Tresury have tons of the stuff and every time gold soars I think they dump some on the market to make paper money and US bonds look good.
http://elainemeinelsupkis.typepad.com/money_matters/images/2008/06/24/wilson_100000_dollar_gold_certifi

[Yurt]

why would there be wars for gold? most currencies do not have a gold standard....unless they want the gold merely for profit.

[5stringJeff]

Because gold is a hard currency, with instrinsic value outside of the "full faith and credit" of a government. How much do you think the dollar would be worth if the US was to split, or was defeated in war? Obviously, not much. That's what makes gold (and silver to a lesser extent) so valuable - everyone recognizes its value, regardless of which government is in power.

[Noir]

Great news....coming at a time when the UK has sold 55% of it's gold reserves, another show of intelegence from our prime minister =/