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Monday, September 12, 2011

gold takes a dive

Gold took another 50 dollar dive today. Why? Who cares? Unless you're trading futures - it just means gold is on sale. Awesome. One day soon a big bank will go under - despite all the efforts and intercessions of the Central Banks- and then it will be difficult to buy real gold at any price. They're already worried about that in Europe THUS:

Austrian banks have now been ordered to restrict the sale of gold and silver bullion purchases and are limiting personal acquisitions of precious metals to 15,000€ (approximately $20,700 USD) at a time, or 11 ounces of gold at today’s prices.

These policies were implemented over the course of the last 30 days, and they are now standard operating procedure. The reason given was the banks had come under pressure from EU, Austrian and U.S. officials, to comply wtih U.S. money laundering initiatives and the EU’s Third EU Money Laundering Directive which was implemented across the zone in December of 2007.

Money Laundering? Yeah, sure.

Meanwhile in CHINA: (From

The China Radio International sponsored newspaper World News Journal (Shijie Xinwenbao)(04/28): “According to China’s National Foreign Exchanges Administration China ‘s gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the U.S. and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold’s function as an international reserve currency. They don’t want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar’s role as the international reserve currency. China’s increased gold reserves will thus act as a model and lead other countries towards reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB.”

Okay, just because it's in the Chinese Press doesn't mean it's true. But ask yourself: does it sound reasonable?

The American Public is always the last to get any real news. And that includes the garbage you hear from those who disparage the Lame Stream Media. Because left, right, center - it's all lame.

Don't be the last to get it.

Buy some gold now.

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