My Dear Extended Family and Euro Ex-Pat Snobs,
Read and weep you expat euro snobs that swore the euro was finished. Those who looked me in face as if I was mad at lunch when bullish long term on the falling euro. Gold is why the euro is doing what it is doing, and mark of gold to the market will be universal among the strong currencies. Those that do not have or buy gold resisting marking their gold reserves to the market are sentencing their currency to the bottom of the batch.
I was shunned as too stupid to be alive when at $1.19 euro I warned there was a currency war that MSM was MOPEing the euro, but not to death. Plus the euro would beat the US and GB assault it was under.
You should have seen the face yesterday on the Bloomberg Money Bunnies when a talking head said $1.37 on the euro. $1.37 is too conservative, as is $3500 on gold.
Gold is going to and through $3500 in the reasonably near future. The point of this entire operation was to shake the tree to accumulate not in the paper market for gold, but real free gold in the cash market.
When I told you RGLD at $100 was too rich, too early, I am sure those who bought it when recommended the day Barrons bashed it saying it was worth no more than $5.60 laughed off my $100 observation. RGLD is a interest sensitive gold bank and should be played that way. It will return to $100 and above because there is no political will to accept higher rates. The Fed will buy any and all treasury instrument offered to them in order to keep rate low.
Here is another observation that few, if any, will listen to. The race for leadership in the gold share bull market coming will be between Mucks and Trucks. Something like a Saturday night monster truck show at the country fair.
1.3572 +0.0084 (+0.62%)
2013-01-30 10:09:38, 0 MIN DELAY