It's been a long climb from gold's low of $256 per oz. in September of 1999. And gold now reaching $1000 per oz. is a celebration for anyone who has been holding gold. But for most of us what it really indicates is the dollars is continuing to loose value. Today, it broke through 71 on the dollar index. For perspective it was at 84 a year ago and today it's 71.95. On a graph it just steps going down. And we are the ones who will going down those steps with the former dollar. And the attached article mentions that but it becomes significantly evident for all of us when we need to buy food, energy or other essentials. Investors looking for a 'safe haven' are buying commodities and energy sources. Oil production has 'peaked' world wide and world oil demand continues to climb. But speculators such as oil companies are also buying futures. So today's price is over $110 a barrel and that surely means $5 gas for U.S. drivers will soon be with us. What we are experiencing is the inflation of prices for necessities. While we simultaneously drop into a serious recession. Our supposed safe haven was the house...we couldn't loose as it would continue to go up and up. And while it was going up and up we could also pick the fruit from the tree and then more fruit would appear. And the sun would shine and it was evident that god loved us. And why shouldn't he as we where made in his image. And heaven on earth (for us) was just a step away. We'll so much for that malarkey and here we are deep in the stuff and quickly going deeper. And our favorite weapon ...denial.. seems to have become dull. So our best option maybe to open our eyes and question the reality they have been offering us in great scoops. Our own dear leader recently described what was happening to the national economy as a momentary slow down. And if he actually had a sense of humor i could admire that statement. Our economy is headed for the dumpster and the world seems to know it along with most people trying to put food in their kids mouths and have them stay warm at night. And as far as economics the biggest lie has been fiat money has intrinsic value. But the lesson is: It never has and it never will. And that is what the bankers are now finding out. The lie they told us and themselves is a delusion that is going to be painful and expensive. We are broke and i believe $1000 gold is the proof of that statement. My point is this is not the celebration we may be seeing on the 'tell-a-lie' screen. This is more likely the preparation for the dollars funeral.
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