The worst financial crisis the U.S. has ever experienced is not over by a long shot. And that virtually guarantees much higher gold prices. In fact, in just over one week gold has gained as much as 14.5%!
And the $700 billion bailout package? Well if Congress passes it the dollar will get battered, anticipating massive money-pumping, and more inflation. If Congress doesn’t pass it or passes it with certain conditions — there’s no soothing over the markets. The crisis deepens. And what do any of these scenarios do to gold? It drives it higher!
Hence, I repeat my view from last week … if you haven’t already, look to move immediately to a 25% core gold holding in your investment portfolio.
More on this topic
(What's this?)
Inching Closer to the Gold Explosion
(Gold Versus Paper, 3/13/10)
Bloomberg Gold Buy Signal
(Gold Versus Paper, 3/9/10)
Guest Post: Greenspan Says Worst Financial Crisis EVER, INCLUDING the Great Depression
(naked capitalism, 2/23/10)
Why the Gold Bubble Will Peak at $2,000 in 2010
(Money Morning, 1/23/10)
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