Monday, January 23, 2006

Helicopter Ben and Gold @ $3000 oz

This Yahoo Finance Post makes the assertion that Ben "Helicopter" Bernanke will ramp up the money presses to devalue the dollar and reduce our national debt. It goes on to state that Gold has risen nearly 16% in the short time since Ben's nomination to take over Greenspan's job.

According to the article, as the Fed starts flooding the market with new dollars, the price of gold will continue its march upward towards (a conservative estimate) $3000 oz.

Guess we'll find out soon enough, as the Helicopter man takes charge on Jan 31, 2006.


Out at the peak said...

Wow, this is the highest estimate I've seen published.
I predict we close out the year with $680/oz.
I see many conflicting reports. Some are saying that gold is overbought and due for a downturn now. One report said India's gold demand dried up which makes no sense to me.
There should be more central bank interest in metals in the future -- away from USD. Individial investors will run to metals when the US economy sours.

contrarian2day said...

Agree, your prediction is probably close.

Once the general public gets a whiff of the underlying weakness of the economy (coming soon), they will run to metals and we'll see a shoot to the moon.

BTW: If the Barclays Silver EFT is ever approved, we'll see a tremendous rally in Silver too.