Fwd: Gold Price Soars to US $1365.70 – US Dollar Collapse

---------- Forwarded message ----------
From: Gold De Royale <newsletter@goldderoyale.com.au>
Date: 2010/10/7
Subject: Gold Price Soars to US $1365.70 – US Dollar Collapse
To: <AuCanary@gmail.com>

Gold Price Soars to US $1365.70 US Dollar Near Collapse Gold price soars to a record high of US $1365.70 as the US Dollar against other benchmark currencies are falling. When the US Dollar strengthened midyear, mainstream economists claimed victory over the eccentric Dollar bears, as risk in sovereign debt issues from Greece and other European countries spiked a "flight to liquidity", shoring up demand for the US Dollar. However, the greenback has been sliding consistently since May 2010, giving back almost all of its gains. The outlook for the US Dollar is worsening as central banks in China and Russia continue a campaign of foreign reserve diversification (flushing US Dollar from their banking system and buying gold) and as the Federal Reserve in the US kicks off a second round of quantitative easing in a desperate attempt to stop the US from falling back into recession. Today, the Fed unleashed another round of open market operations buying up $7-$8 billion in stocks on the open market as it tries desperately to inject liquidity and prop up investor confidence through rising equity prices. The US government is trying desperately to restart an economy by borrowing trillions and printing innumerable amounts of money. And as their attempts prove a failure, they are preparing to another round of stimulus. The US is not only going to slip into another recession, it's headed for a horrendous depression. Total economic collapse is a possibility, too, if the US government does not reverse course immediately. Keep in mind that the United States of America used to be the biggest lender in the world once upon a time. Today they have become the biggest DEBTOR in the world. For those who are still in a state of denial that the world economies are recovering, time to WAKE UP. Based on the current market trends the next stop for Gold Price is US $1400.

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