Ben Davies: We see unprecedented physical gold demand

KWN favourite, Ben Davies, fills us in on another rollercoaster week for the world’s major currencies as they first of all shot up against gold, and then fell over again. Davies thinks we will see $2,000 or $2,100 dollar gold by the end of the year and predicts three straight bull months once we are out of August.

He also thinks both the Swiss Franc and the Yen are finished as alternative reserve currencies to the dollar. They are better than the rest of a bad bunch, but both are still being printed as if they are going out of fashion because the exporters in both countries want to keep them both devalued against the dollar and the euro.

Although we have to realise that Mr Lassonde may be talking up his book, and filter the information accordingly, because of his immense standing within the gold industry it is still always interesting to listen to what he says.

In the first half of the following interview, he talks about how Europe’s governments are tipping Europe back into recession, to avoid booting Greece out of the euro, which will then engender more money printing by Europe’s central banks, because it’s all they know.

He then breaks down the gold mining industry and how it’s doing at the moment.

To finish off, we may as well include this week’s KWN precious metals news roundup, in this incredible week when $1,000 dollars dropped down to 0.5263 of a gold ounce, then shot up to 0.5882 of a gold ounce, before settling down today to about 0.5473 of an ounce.

[When you realise that in 1932, $1,000 dollars used to be worth 50.000 ounces of gold, or even that in 1971, it was still worth 28.571 ounces of gold, then you can see how far it has fallen over 40 years.]

My own prediction for Christmas? If the Troika of the ECB, the IMF, and the EU manage to keep the sticking plasters holding over Greece, I reckon $1,000 dollars will drop down to less than 0.5000 of a gold ounce. If they can’t, to less than 0.4000 of an ounce. Drops for other currencies, such as the pound, the yen, and the euro, will be in the same ballpark, as they are still heavily tied to the dollar.

But who can tell, really? The volatility in these paper monies is so huge, there’s no telling what’s going to happen, except that real money is going to continue its relentless rise against these paper currencies, because with the failure of the Swiss franc to hold the line, there’s nowhere else to hold value.

Governments want to take your wealth through money printing to spend it on themselves and their friends. This process will continue until all of the paper currencies collapse and we reset the system. Let’s hope this reset comes sooner rather than later.

About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in King World News and tagged , , . Bookmark the permalink.

Leave a civil and intelligent reply - Comments will be moderated

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s