|California gas prices yesterday|
Besides you must understand the current condition and it is no accident that Ben and his Euro counterparts are the focus of attention in all of the crisis eventually. NOT the presidents and prime ministers in the countries that SHOULD be standing in front and center. You only need to watch and listen.....its obvious.
We are in a money printing blitzkrieg right now in an effort to prop up a worldwide collapse. It doesn't feel like it perhaps but just remember some of the definitions of depression vs recession that you have heard. Its called a recession if your neighbor loses his job......but its called a depression if YOU lose your job. People need to recognize the last wave of unemployed did NOT get jobs or if they were the lucky few that did most find the jobs were way below what they may have had before. This next wave of unemployed will find even less opportunity awaiting them down the road.......please understand this is NOT a cyclical unemployment situation like the last 70 years have had. This is a STRUCTURAL collapse and it is under the storm clouds of a WORLD debt bubble that is massive and will crush any chance of a rebound. I cannot stress just how serious this will become. DO NOT VIEW THIS myopically. It will crush you if you don't respect the danger it poses. Let's all see each other intact on the other side. We will get through it.
Now back to our regularly scheduled program......gold and silver and making money in the grand casino. Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: “The gold market is flirting once again with the critical $1,791 level today. Breaking through this level will be crucial in terms of establishing the momentum for the next leg higher. If gold can get a weekly close above that level, it really completes this pattern. This will then open up the target for gold at $2,060. It could come this year or perhaps in Q1 of next year.