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Old 02-24-2013, 12:52 AM   #1
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Gold likely to become a currency this year: analyst

Great interview !! @ bottom of article

Liberty Trading Group president James Cordier sees gold prices rising on increasing inflation and currency wars.

"We're basically looking at reallocation," he told Fox Business.

"Many investors over the least several months got scared into precious metals hearing about the European banking crisis and trillion-dollar deficits. And what we have found in the past is that the public is notoriously having a bad time — difficult time — holding onto assets when the stock market is rallying,” the commodity trading advisor said.

Cordier added the market is seeing a lot of smaller investors selling their gold and silver and getting into stocks.

He said the trend is about to run its course and gold will become a currency later this year.

“Of course the stock market eventually is going to run out of some steam, and I think some of the money will come out of that and go into precious metals, platinum and gold especially."

Watch the full interview here:
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Old 02-24-2013, 06:29 AM   #2
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many reckon gold already is a currency.

Think what we hope for is 'something' to back the paper currencies.
To give others the illusion that it has worth .........
if it cant be done with a digger .... it cant be done
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Old 02-25-2013, 03:33 AM   #3
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FACT: The banksters will not give up the monopolized privilege of creating money out of thin air until it becomes hazardous to their health.

So unless you predict bankers hanging from trees this year, gold is not going to become legal tender.
"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."

H. L. Mencken
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Old 02-25-2013, 05:35 AM   #4
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to a some degree, gold IS already in many aspects equal to free-floating currencies - ever since it was officially recognized as Tier 1 financial asset - banks can now use gold as a collateral in exactly the same way, as cash - so where's the difference, - semantics?
“...the issue which has swept down the centuries and will have to be fought sooner or later is the People versus the Banks.
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Old 02-25-2013, 07:55 AM   #5
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bushi - Basel III hasn't been implemented in the USA (and likely won't for the forseeable future). Gold may be tier one status elsewhere, but as far as I know, not yet in the USA.
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