The Market Oracle: Bailout Money Printing Signals Gold $1000+
Bailout Money Printing Signals Gold $1000+ :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
“I think [ Gold ] will go back to $1,000 just because the United States is going to have to print so much money to foot the bill for everything they want to do,” said Peter Major of Cadiz Financial Services in Johannesburg on the SAfm Market Update radio show last night.
“They’ve created close to $5 trillion new debt in the last eight years. Looks like they’re going to have to add another trillion debt here real quick.”
As US law-makers wrangle over the Treasury’s proposed $700bn bail-out bill for the Wall Street and foreign bank debt crisis, the US Federal Reserve today lent $30bn to the central banks of Australia, Denmark, Sweden and Norway.
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