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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Wednesday, November 23, 2011

James Turk sees Gold at $11,000/oz by 2013-2015

James Turk says another Lehman Brothers is coming before the end of the year just like in 2008 , but this time around the sell offs are more driven by fears investors are making sure their assets are safe rather than any liquidity concerns and this kind of environment James Turk expects Gold and Silver to do the opposite of what they did in 2008 when they got sold with everything else , the collapse of MF global is still playing out in the paper market but the people what are accumulating gold and silver and have been accumulating gold and silver for the past decade they do not really care of what's going on in the paper markets ...regarding Europe James Turk says he expects it to breakup in the next few years in some form he just do not see how it could work ....The European politicians made a mistake with Greece when they decided that it could not go bankrupt what that did it essentially opened the Pandora box ...Europe generally will continue to spin out of control , the Euro is very problematic it just cannot survive from the longer time perspective , there are too many fragile breakpoints that could cause it to fall apart ....right now we are in a 'managed retreat for Gold' , every bull market has three stages the first stage is apathy and neglect no one is paying attention and that what happened before gold broke to $1000/oz , we are now in stage two , the big dramatic moves won't come until we got into stage three that;'s when the speculators start jumping in and and your neighbor start telling you to buy gold you know that kind of thing , that's down the road that's 2013 - 2015 , the interesting thing about silver is that it is still at stage one it won't get to stage two until it breaks the $50/oz that's probably going to happen in the first half of the next year ....

Gold and Silver blog