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What Is Pushing Down the Gold Price?
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
news.goldseek.com / By Keith Weiner / April 18, 2013
It has been an increasingly brutal ride for gold and silver, beginning around late March and accelerating through April. The gold price was over $1600 and on Monday April 15, it fell below $1350, a loss of $250. Silver did even worse, falling from $29 to $22. We called for the gold:silver ratio to rise, and since the start of February, it has risen from around 52.5 to over 59 as I write this (with a few periods over 60).
Gold and Silver Prices
Everyone wants to know why. Why did this happen? Could the prices fall further? If so, how much? In this two-part article, I address these questions and put them into perspective. In the first part, I discuss the conventional theory and in the second part the Monetary Metals theory.
In this article, I refer to the “gold bug” frequently. By “gold bug” I mean the dollar-focused speculators and traders, not the people who buy gold and silver to accumulate for the long term. The latter understand, implicitly or explicitly, that gold is money and that it is good to hold money as the world moves closer towards global bankruptcy and default.
Let’s start with a question. If you knew that a casino was cheating, if you saw that there was a magnet under the roulette table, would you gamble there? Would you risk your money, hoping that on the next spin, the magnet would somehow malfunction?
Thanks to BrotherJohnF
2013-04-18 11:04:33
Source: http://silveristhenew.com/2013/04/18/what-is-pushing-down-the-gold-price-2/
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