Asset and Wealth Protection
The price of gold rose to its highest level in five weeks as German economic data boosted the euro and Chinese trade data helped to push commodities skyward.
There are still people around who are wondering “if” or “when” the American dollar is going to collapse. But I can tell you that there is no if or when; the collapse of the U.S. dollar is happening right now. The depression it is causing is highly visible. The people are already in the streets: in the United States and around the world.
The price of gold rose by a significant margin as a resurgence of the euro versus the dollar, bringing the value of the metal past a 200-day moving average.
Jobs offshoring, financial deregulation and 10 years of wars have severely damaged the U.S. economy and the economic prospects of 90 percent of the American population. The signs are everywhere in front of our eyes. They are in the income distribution data, the BLS jobs data, the Census data, the poverty figures, and the high number of food stamp recipients.
I read an on article on the devaluation of the dollar (The Bob Livingston Letter™, September 2011) in which you mention alternatives to the dollar. You mention the Swiss franc annuity. Can you elaborate as to how it works and how one would go about to obtain this type of annuity?
After posting gains for the 11th straight year in 2011, gold experienced gains as the commodity markets ushered in the new year with good news for precious metal buyers.
The U.S. economy is in gradual collapse and has been now for several months, along with Europe and most of the world. In the United States, it is common knowledge that bankruptcies are widespread and occurring daily. Almost 46 million people are now on food stamps. No telling how many really are, as government statistics are totally unreliable.
Mr. Lee Bellinger states the following in his fall 2011 Precious Metals Quarterly report: “In August, the Swiss had thrown their franc under the bus. They promised to print it in “unlimited” quantities, if necessary, to maintain Peg between the franc and the euro. Thus the Swiss franc, one of the best and most trusted currency safe havens, was demoted and sent to assume its place in the long line of crumbling fiat currencies.”
What are your thoughts on this? Since I have a Swiss Annuity this is quite disturbing to me.
Gold prices have been undergoing a minor correction the past couple of months. I believe it is a healthy correction with higher prices for gold to come in the new year. However, I appreciate that very few people can take advantage of rising gold prices.
The price of gold increased on Friday as investors purchased the metal along with other assets associated with risk, encouraged by positive employment data from the U.S. and a concerted effort by euro zone policymakers.