Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.
The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.
This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.
source
I find it rather ironic that the Chief Technical Strategist for one of the banks that has been begging for government intervention, to save said bank, is now complaining that the intervention is taking place. Especially when he criticizes the "Financial excesses of the past 25 years" given Citigroups place in contributing to those excesses.
I don't know - I just don't have a lot of faith in what this guy is saying. I mean gaming it out in my head I can see how this could play out, but the fact that people are quoting the "memo" without actually printing it or providing a link gives me a lot of pause.
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