All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
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Monday, July 11, 2011

Joe Meyer, Gold & Silver prices will double from this point

In this Coast To Coast AM - 10.7.2011 , financial analyst Joe Meyer provided an update on a number of facets surrounding the economic crisis including the debt ceiling, the dollar as world reserve currency, and the rising price of gold and is a medium it is an agreement to exchange goods and services , the Dollar became the world reserve currency in July 1944 at the meeting of Bretton Woods , President Nixon removed the dollar convertibility to Gold on August 1971 , since then the dollar is backed by the general faith in credit standing of the United States Government
. We are in the early stages of a massive bull market in the precious metals we have at least another decade of rising prices , to put it in perspective , We had 5 prior commodity bull markets in the last 200 years and each of them lasted between 18 and 20 years in the overall big picture this bull market has not even begun we are going to go significantly higher , if we look back at the previous bull market we had which was from 1970 to 1981 Gold basically took nine years to go to 200 dollars and one year to go to $850 so if you look at the bull market from $35 to $850 you get a factor of 24 times if we apply that to the Gold bottom which was made in 2001 and we multiply basically $255 times 24 we get a potential finaly bull market high in Gold $6920/oz

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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