Greetings Jim,
Gold closed slightly higher this week, confirming last week’s long-term breakout and reconfirming the bullish translation of the current intermediate-term cycle from late January.
The latest Intermediate-Term Cycle High (ITCH) will likely occur sometime during the next four weeks, but the recent move up to new all-time highs indicates that the secular bull market remains healthy.
Best,
Erik McCurdy
Prometheus Market Insight
http://www.prometheusmi.com
Dear Jim,
All this QE has devastating effects on the poor!
Best,
CIGA Big Tatanka
CIGA Big Tanaka,
You got that right with a little help from the weather long cycle, but what created the absolute need for the Central Bank tool, QE?
The answer is the international collapse and false valuation of OTC derivatives scam.
If karma exists the bankers are doomed for eternity.
Regards,
Jim
World’s Poor ‘One Shock’ From Crisis as Food Prices Climb, Zoellick Says
By Eric Martin – Apr 16, 2011 5:49 PM MT
World Bank President Robert Zoellick said the global economy is “one shock away” from a crisis in food supplies and prices.
Zoellick estimated 44 million people have fallen into poverty due to rising food prices in the past year, and a 10 percent increase in the food price index would send 10 million more people into poverty. The United Nations FAO Food Price index jumped 25 percent last year, the second-steepest increase since at least 1991, and surged to a record in February.
Food price inflation is “the biggest threat today to the world’s poor,” Zoellick said at a press conference following meetings of the World Bank and the International Monetary Fund. “We are one shock away from a full-blown crisis.”
