From Dec. 2012 to Dec. 12, 2013 gold prices have dropped from a high of $1709.44 to a low of $1203.
It’s important to remember that on April 15, The Fed orchestrated a takedown in gold when partner banks started dumping tons of paper gold into the markets. Two of the suspected culprits are JP Morgan and Goldman Sachs. Both have strong ties to the Fed and Bank of England as well.
Since that date, similar sells continue to take place suppressing prices to where they are today.
Our economic woes have not changed and we are still on a very dreadful course that historically results in catastrophic loss for the working class.
Washington has kicked the budget can down the road for another two years ensuring more debt and reckless spending. It’s obvious that politicians have no idea what is actually taking place. Furthermore, they have even less of an idea concerning what needs to be done to correct the system.
The Fed has no other choice but to keep printing money or Wall Street will suffer heavily. Even honest Wall Street execs admit that this years market gains are due to Fed stimulus. If the Fed does taper, it will be nothing more than an insignificant gesture.
We look for gold prices to be suppressed well into 2014 at the least. Those owning gold and silver should hold steady and ride out the storm. Those vested in stocks should sleep with both eye’s open. Bubbles eventually burst.
Gold Goliath is not your typical gold dealer.