“Gold Hits Four Month Low On Tuesday” – Gold Goliath

Posted on :Mar 17, 2015

Gold last reported a.m. is $1154.60 down 10 cents and silver is $15.69 up 1 cent.

U.S. allies fearing the eventual end game for dollar dominance are jumping ship and heading towards China as the new banker on the block. Australia and UK were first, now France, Germany and Italy have decided to join a China led international development bank. The decision comes on the heels of Britain after it announced last week that it would join the 50 billion Asian Infrastructure Investment Bank, a serious threat to the Washington based World bank.

Washington has been pleading with its allies to stay together because it would give them more influence over the workings of the new bank. The new Chinese bank is another stepping stone that will increase international influence for China as the nation attacks dollar supremacy. In the latter part of 2014, Washington warned both China and Russia not to compete with the U.S. dollar or else. Both countries are calling the “or else” bluff and outside of defeating Russia, Germany and their allies in war, the gig is up for the dollar.

Sure it will probably be around for many more years but what made the dollar king is belief by foreign investors that it was untouchable and here to stay. We aren’t too far off from a time that we will see U.S. debt dumped in favor of other nations. Looking from a foreign standpoint, the U.S. has over 18 trillion in official debt and more than 42 trillion in unfunded liabilities. Not exactly the picture of robust health and economic success.

China also continues purchasing and producing more gold than anyone in the world. While gold is being downplayed in the U.S. foreigners are buying everything that’s available. Through March 6, 456 tons of gold have been withdrawn from the Shanghai Gold Exchange. Annual gold production is said to be about 2800 tons and Chinese demand is running around 47 tons per week. This equates to 88 percent of world gold production.

Irish Finance Minister, Noonan, liquidated his euro shares to invest in gold. Noonan’s personal investment gives insight into his thoughts concerning current turmoil in the European Union and the trustworthiness of the euro itself. That Noonan is considered to be among the EU elite, its probably more than coincidence that he moved out of European stocks into gold. Those on the inside always jump ship before warning the sheep. Greece and the EU remain in a slug fest and sooner than later the system will be dissolved with massive losses to lenders and debtors alike.

The U.S. economic system is no different except the Federal Reserve is still the most powerful central bank in the world. For the time being, the Fed has the ability to kick the can down the street a little further than others. Debt will be the undoing of every nation ignorant enough to think it can actually live on it.

Gold and silver remain available below production costs at a time when demand on both metals  outpaces supply. Gold Goliath is offering special pricing on the 1 oz. Silver Canadian Maple Leaf and the 1 oz. Gold Canadian Maple Leaf. Call 1-800-577-3195 with any questions.

Gold Goliath is not your typical gold dealer.

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