Thu, Oct 23, 2014, 8:34 AM EDT - U.S. Markets open in 56 mins.

Recent

% | $
Quotes you view appear here for quick access.

Barrick Gold Corporation Message Board

  • despiteit1 despiteit1 Apr 12, 2013 10:58 AM Flag

    Am I wrong could be?

    The first move out of the dollar is in to gold. In fact this has been going on since the beginning of the 21st century. But the Fed doesn’t want that because if the price of gold rises too rapidly in terms of dollars it scares everyone. Also, if you had a sharp movement out of dollars you would in fact see a sharp fall in the exchange value. At that point the Fed has lost control and the whole scheme blows up.

    So that is what the situation is. They are desperate. They are having to drive down the obvious alternative to the dollar, which is gold, in order to affect the psychology of people throughout the world. But China sits on the largest collection of dollars in the world and they have to be worried about it. In fact they have been lecturing us for years about our irresponsible monetary and financial policies. So they will be very glad to get out.

    Now I don’t think this attack on gold on the part of the Fed can last much longer because the Indians will buy gold here as well. The BRICS will also use this opportunity to get rid of dollars. But what this is designed to do is break up the sentiment among Americans and gold bugs. It scares them. It is designed to stop the flow of money from ordinary citizens into gold.

    The Fed is also hoping the offsetting run of the central banks buying gold won’t be enough, at least any time soon, to push the price of gold back above where the Fed has capped it. The Fed has been at this for a long time. First they capped the gold price (at around $1,900), and then they drove it below $1,750. Gold would come back to and even above the $1,750 level and the Fed would drive it back down.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.