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Thread: Sheople Stampede? CNBC airs prediction of default in paper gold

  1. #1

    Sheople Stampede? CNBC airs prediction of default in paper gold

    Nothing like stories like these to get a good ol' fashioned Sheople Stampede a' rollin'

    YAHA! <Crack>

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  3. #2
    Though dated yesterday, this just rolled in on the same subject...

    Kiener: Gold Prices To Double On Paper Market Default;
    Demand of physical gold outstripping supply as
    global interest rate cuts lead flight from paper currencies

    Paul Joseph Watson
    Prison Planet
    Tuesday, October 7, 2008

    Jurg Kiener, CEO of Swiss Asia Capital, told CNBC this morning that the flight from paper currencies as a result of global interest rate cuts will lead to a doubling in the price of gold within a short period, as demand for physical precious metals outstrips supply, causing paper contracts on gold to default.
    Not re: paper contracts but just gold, from the day before...

    Hyperinflation Catalyst For $2,000 Gold
    Wall Street bailout, overprinting of dollar will cause
    commodity to soar, says 40-year market vetera
    Paul Joseph Watson
    Prison Planet
    Monday, October 6, 2008

    40-year market veteran and fund manager Robin Griffiths of Cazenove Capital Management predicts that the overprinting of dollars as a result of the Wall Street bailout will act as a catalyst for gold prices to rocket to $2,000 an ounce, as demand for precious metals outstrips supply amidst rumors of market manipulation.

  4. #3

  5. #4
    Well thanks and you're welcome... I don't write 'em -- not smart enough for that, so I do my part as an "alternative media distribution machine."

  6. #5

    Its obvious to all but the FEDS

    or they are complicit with the banks that gold coins are sold out or the worldwide distribution is running 24/7 to keep up with demand. Silver is being bought back by houses who are still selling it but with major delays. Ultimately, the government will for National Security reasons or some other bogus reason(office of financial stability) allow the banks to not honor the contracts. Until then the banks will desperately sell contracts trying to keep depositors from taking 10,000 in lendable loans for every 1000 they withdraw to buy an ounce of gold. The banks are in deep and will simply default soon enough on the contracts. Never in History has there been such a disparity in accumulation and lack of price movement. 1000 gold shook the banking system to its core.

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