Friday, April 29, 2011

Accomplishments of the Obamaphate: Yet Another Record Price for Gold

BOTUS has proved that his Columbia and Harvard degrees have been worth alot ... to George Soros .... and China.

Ben's Quantitative Easing 2 and Barack's wildly reckless debt accumulation have together pushed gold to new highs....

Anyone up for a friendly (no money) wager on when it will hit $1,600/OzT?

Chart Source:

And, from today's Financial Times:

Gold surges to all-time price record

By Telis Demos in New York

Published: April 26 2011 05:07 | Last updated: April 29 2011 21:45

UPDATE: 21.30 BST. The price of gold surged some $30 on Friday, capping a week of gains as investors bet that the world’s central banks would keep pumping money into the world economy for the time being.

An ounce of gold hit a high of $1,569.30, rising 2 per cent in the the biggest one-day percentage gain since December, as investors rushed to protect themselves against the rapidly falling value of the dollar....

Click the linked title above to read the whole disturbing story.