Watch what they do, NOT what they say

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Precious Metals Blog

Tuesday, November 04, 2008

Watch what they do, NOT what they say

This chart is courtesy of the Federal Reserve Bank of St. Louis and is up to date. This plainly shows a monetary supply increase of 305 billion dollars in just under 2 months. This is the most in HISTORY by a long shot. This is a warning of upcoming inflation with a capital “I”

* "The dollar's rally has topped out as the money supply rockets. Monetary inflation will soon destroy what's left of the dollar's store of value. This is a rare opportunity for long-term investors to buy gold under $800/oz.," said Craig R. Smith, Swiss America CEO.

* "The dollar's rise is temporary, and its prospects are bleak. The toxic American derivatives were marketed worldwide by Wall Street. The harm done to America's reputation by the financial crisis, has led to numerous calls for a new financial order in which the United States plays a substantially lesser role," reports Creators.

* "The U.S. Treasury said it would seek to borrow a record 550 billion dollars in the October-December period to help stabilize the financial sector hammered by the global credit crisis. The Treasury said the federal government had borrowed $530 billion from the markets in the third quarter," reports AFP.AP.
* "When this dollar panic buying reverses, so will the gold panic selling. Gold is far too cheap today relative to its bullish fundamentals and the incessant fiat-currency growth all over the world. This anomaly is a great opportunity for capital to move into gold. As TRILLIONS of new dollars are created, the dollar will lose more value," writes Jim Carrillo, Sr. Portfolio Adviser

Remember the result of massive monetary infusions to keep the system afloat after 9/11? That is what lead to Gold going up from $250.00 to over $1,000.00 an ounce now Gold is at $700.00 due to the panic into dollars.

As TRILLIONS of new dollars are created, your dollar buying power will lose even more value. People currently fleeing for safety are hoarding dollars. This literally is akin to jumping out of the frying pan, directly into the fire. Please ... Don’t miss the forest for the trees. Watch what they do, NOT WHAT THEY SAY! BUY GOLD!

JMC

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