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GOLD AT $10,000?: Speculation Getting Harder to Label as Hype (Guest in PDT)
First it was the spectacle of watching Wall Street’s giant investment firms cave back in 2008. Now, in what has investors feeling a troubling case of déjà vu, the same viral-like collapse is looking ominous among entire European nations.
If ever there was a steroidal-injection-type scenario for gold, say economic analysts like Swiss America CEO, Craig R. Smith, this is it. And, given the ongoing record-breaking performance of gold in the past two years, it’s becoming increasingly difficult for investors to dismiss the prognosticators as hype hustlers.
Heading into this past holiday weekend, while no one was whistling Dixie in the pits at the NYSE, they were enjoying some relative stability. But, as the New York Times reports, “ . . . right after lunch, the Fitch ratings firm announced it had downgraded Spain’s credit rating by one notch, sending indexes on a swift decline of more than 1 percent.” (See the link below for the full story.)
And the anxiety is back. The debt crisis in Greece, as many have feared, is beginning to show symptoms of spreading to other areas of the euro zone. In response, a Bloomberg survey of 23 traders, analysts and major investors shows a resoundingly consistent industry belief that gold will continue to break records and reach $1,500 an ounce by the end of this year.
So, what is it about the signs of the times that has some experts surprised to see that gold is even as low as it is? Will it really go on to track on $5,000 to $10,000 an ounce within the next decade? And, from a bigger perspective, is the U.S. destined to catch the disease of catastrophic bankruptcy afflicting Europe right now?
For an extremely insightful discussion that can explore these questions and more, call Special Guests today to arrange an interview with Craig R. Smith.
NOTE TO PRODUCERS: During your show, Smith will offer, FREE, Swiss America’s latest Special Report, The Incredible Shrinking Dollar: How to Fight Back, along with his company’s Gold 101 DVD. They’re both available just by calling 800-289-2646.
THE FOLLOWING ARTICLE MAY BE USEFUL FOR SHOW PREP:
http://www.nytimes.com/2010/05/29/business/29markets.html?src=mv
ABOUT YOUR EXPERT GUEST CRAIG R. SMITH:
Craig R. Smith is an author, commentator and popular media guest because he instantly engages audiences with his common-sense analyses of local, national and global trends. Serving as CEO of Swiss America for more than 25 years, Craig understands that Americans want solid answers to the tough questions and that real leadership begins with servanthood. Craig's most recent book is Black Gold Stranglehold: The Myth of Scarcity and the Politics of Oil, which he co-authored with WND columnist Jerome R. Corsi.
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