Written On The Bathroom Walls

Here is the latest gold news.  Despite attempts by Wall Street to get all the money for themselves and the supposed occupation by the anti-capitalism forces, gold continues to build pressure. They cannot hold back the true economy forever. Sooner or later the dyke must give way. Gold analysts such as Michael Pento and Pierre Lasonda are predicting gold to reach over $10,000 per ounce.

This is not speculation. It is reality. You can not print your way out of an economic collapse and then blame it on misled anti-capitalism forces. Michel Pento says, “Likewise, an economic slowdown won’t hurt gold prices this time around either, as long as Bernanke does not sit on his hands for 6 months. With Europe teetering on default, investors can be assured that the European Central Bank and the U.S. Fed will not allow another half year of deflation and money supply contraction to send the global financial system into ruins. Once an economy becomes fully addicted to inflation it is very hard to kick the habit.

“Investors must understand that global central banks will do everything in their power to avoid reality and try to keep the credit bubble from bursting on both sides of the Atlantic. That’s why taking advantage of this recent pull back in gold may be the smartest move.”
Pierre Lasonda is even more bullish on gold. He predicts $10,000+ per ounce gold. At the moment gold is trading at $1650 per ounce. “If you look top to bottom, the gold price is down about 17%, so my view at this point is the correction in gold has about run its course, it’s about over. People don’t have to worry for one second. My eyes are focused 100% on my Dow/Gold ratio. The ratio started eleven years ago at 42 to 1 and now it is down near 6 to 1...If you look back at 100 years of history, at the top of the bull market in hard assets in gold, that ratio comes back to 1 to 1. So think about the power of mathematics here, in the year 2000 it took 42 ounces of gold to buy 1 unit of the Dow, today it takes about 6 ounces of gold to buy one unit of the Dow.
The gold price has gone from $250 to roughly $1,650 today, so the gold price is up about $1,400. But to go from 6 to 1 (on the ratio), let’s say the Dow is at say 10,500, the gold price has to go from $1,650 to $10,500. So there is more left in the gold bull market than what we’ve seen over the past ten years. Am I bullish? Absolutely, 100%.”
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