A very prominent Chinese banker in Hong Kong said to me last week, "What you've got is a true story, and you will know it because of the thunder of denials." And I was quite delighted to see how thunderous they were. It is true.
Fisk's original report
Our topic of interest is getting big coverage right now...
...as the IMF meets in Istanbul, Turkey.
SDRs and the Endgame for the US Dollar Reserve
Curious sounds emanating from the WSJ...
IMF Managing-Director Dominique Strauss-Kahn's proposal... was politely downsized to a research project.
the fact that markets are now being left to bid the U.S. dollar down
"Bretton Woods is being overhauled before our eyes,"
"It is possible the world could turn inside out from what we have known since 1945,"
File this under: Hmmmm....
October 6, 2009
Today at Noon, the United States Mint issued a press release with some shocking and disappointing news. The collectible 2009 Proof and Uncirculated Gold and Silver Eagles will not be offered this year.
The reason cited for the canceled products is a familiar one: "the unprecedented demand for American Eagle Gold and Silver Bullion Coins."
Mint News Blog
The United States Mint Official Press Release - Oct. 6, 2009
Gold’s Breakout Not A Cause For Celebration
...The reason why I suggest that today's market should scare you, and not be a cause for high five because of the implication of the event.
Hyper-inflation has always been a currency event, not an economic event. The currency event has always been, for whatever reason it occurred, a loss of confidence phenomenon. Clearly confidence in the US dollar and its management is slipping. Historically when this currency event comes about the transition is extremely fast.
We have been doing a countdown to the beginning of the end, or that process acceleration. The are 33 days to go.
Gold is then off to $1224, $1650 and then on to Alf's numbers.
Have you prepared yourself for the implication of such a gold price?