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Title: MSN Money: Gold Could hit $9,000- $12,000 an Ounce in a currency reset
Source: .
URL Source: http://libertyfight.com/2015/msn_mo ... _could_hit_12000_an_ounce.html
Published: May 6, 2015
Author: .
Post Date: 2015-05-06 09:45:48 by Artisan
Keywords: None
Views: 26

In an under-noticed article on corporate media website MSN Money, the outlet ran an editorial last week claiming that the price of gold could reach $12,000 an ounce in the case of an IMF currency reset.

... The column, which links to ArabianMoney.net, notes "Certainly the global central banks seem to be able to do little to help, though it might be a whole lot worse without them."

Excerpt:

How much longer are we going to stay in a depressed world economy with much lower rates growth, low interest rates and deflation rather th inflation? Absent some new technology or a majo war it is hard to see the end in sight. Certainly th global central banks seem to be able to do little t help, though it might be a whole lot worse withou them.

. Silver lining

Gold is likely to make a comeback as a currency and not just as a commodity in such an environment. And because gold reserves are very limited and its price already elevated then silver will rise and rise an alternative precious metal as it did in the past.

. Indeed, we are heading for a currency reset as the huge debt mountains of the world become due, cannot be paid and debtors default. The International Monetary Fund could well have no alternative but to include gold in a basket of global currencies in a reset, creating new Special Drawing Rights to restore economic confidence and restart the credit cycle.

But at what value would gold be valued if that happened? Hedge fund manager and author Jim Rickards has calculated a range of between $9,000 and $12,000 an ounce. Gold at around $1,200 today is a steal!

...

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