IMF

Gold Price down, great

Gold Bullion, Gold News, Gold Price, Hyper Inflation, IMF, Inflation, Precious Metals No Responses »

Apr 242012

This last week was a not so good for the Gold Price, but that depends on what way you want to look at it, It’s a great time to buy, this is a good dip, Gold has been used for 5000 years, and barter was one of the most common ways to pay for goods, well Iran and China are planning on trading Gold for fuel. This is the beginning of using gold as money, Here is a caption from Vicky Kapur’s article explaining and giving details on the current scenario in the gold market.

Gold Price down, great

Spot gold prices fell more than half-a-per-cent to $1,632.30 per ounce at 11.35am UAE time (7.35am GMT) this morning even as traders remain concerned over fresh debt tensions in the Eurozone and lackluster trading a day before the Indian gold buying festival Akshaya Tritiya.

According to Dubai Gold and Jewellery Group’s morning rates, gold is currently at a two-week low. While 24ct gold is being retailed at Dh196.50 per gm, 22ct gold is going for Dh184.75/gm and 18ct gold is available at Dh150.75 per gm in Dubai, the city of gold.

However, according to some analysts, this may be the only window available for medium-term investors to buy gold at these prices as China, arguably the world’s only working-condition growth engine, is reportedly mulling paying for Iranian oil in gold to avoid US-led sanctions on Iran trade, which kick in on June 28, 2012.

According to reports, Iran has already offered China and India – its leading oil purchasers – oil in exchange for goods other than their local currencies like wheat, soy and other consumables including white goods.

Logically, however, Iran won’t be able to meet all its foreign goods need through such a barter mechanism, besides the fact that it will need to save a share of the proceeds for future use. That brings gold, the ultimate store of capital, into the picture.

China purchased 454 tonnes of gold over a six-year period between 2003 and 2009 (besides adding about 100 tonnes in December 2002), and come July 2012, it will perhaps make the most use of its ballooning gold reserves.

India, on the other hand, holds 557.7 tonnes of gold reserves, having bought 200 tonnes of gold from the International Monetary Fund (IMF) in October 2009.

And these are just two (admittedly largest) of Iran’s oil importers. If more countries decide to join the gold-for-oil bandwagon to avoid choosing between plying their cars on the road and a head-on collision with the US, it’s anybody’s guess to where the precious metal prices may end up in the second half of 2012.

If you want to read more about this article, click here.

As the Gold price has fallen again today investors who are anxious to protect their assets against the rising inflation and fiat currency debasement should take this opportunity to invest in gold now before gold price rise up again.

Austerity in Ireland

Austerity, EU, Euro Crisis, Gold Price, IMF No Responses »

Apr 192012

Austerity in Ireland is only really starting, We owe billions, to the European Banks (Germans mostly) isnt it so Ironic, we owe millions to the Banks, and it was the banks who put us in this situation, is it a set up ?.

So the Irish people have to pay for there mistakes, the squeeze is starting and its only going to get harder. only yesterday it was announced that there would be a new charge on water, water rates.

The banks are pulling the strings. The Household charge is just another example, where each house has to pay 100 euros until next year where it will be even higher. There is away to protect youreself from the manipulation of the banks, and that is to invest in gold, dont sell it buy it, the banks dont want you to buy gold, as they dont have power over you then, the central banks are printing money, and you are losing youre buying power and inflation is rising as a result of this.

There are marches happening all over Europe, Greece, Spain & Ireland.

As President Jeffersons said and this really applies to the whole world

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

The Irish government was forced and/or was foolish enough to guarantee the debts of the banks—hence the Irish people now have to pay. and our grand children will have to pay also.

Ireland is one of the PIIGS, Portugal, Ireland , Italy, Greece & Spain,
these countries owe ac combined debt of over 3 trillion euros, so the Euro Crisis could result in some members leaving the Eurozone, and this would eventually cripple the Euro.

Spain are now introducing new Austerity measures which will result in cuts in public services ie: education. with an unemployment rate of 24%. Youth unemployment (under 24 years old) is an overwhelming 52%. these figures will rise by the end of this year to an estimated 30% unemployment.

So given the mess Europe is in, and its going to get worse before it gets better, how are you protecting your wealth.So now is the time to consider buying Gold, do youre research see how gold is the best currency to own especially in these times where the Euro and the dollar are under threat of collapsing.