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Message: i think we're in uncharted territory now

i think we're in uncharted territory now

posted on Sep 21, 2008 12:45PM

this article from resource investor predicts a large increase in demand for precious metals as people lose confidence in the monetary system.

http://www.resourceinvestor.com/pebb...

Investors stampeded into gold and silver exchange traded funds over the past week as the U.S. government was forced to take extraordinary steps to avoid an almost certain systemic loss-of-confidence financial meltdown.

A repeat of 1930s bank closures, long lines of angry, empty handed depositors and the social chaos that would accompany such a disaster has apparently been averted at about as close to the last minute before reaching critical mass as such things can be.

Although we have yet to actually see the Treasury Department proposal put together to save the financial system, many analysts and economists already view the drastic measures which the government has already taken and will be forced to take now as very strongly inflationary. Generally, higher inflation expectations have been historically good for monetary precious metals such as gold and silver.

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