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Larry Edelson here with an urgent update on gold: Starting a few minutes before 8 a.m. Eastern Time today …
• Gold smashed through its all-time record high of $877 per ounce …
• Gold surged even more — to $883 …
• Gold opened a clear pathway for an accelerated run to $1,000, and …
• Gold did what I said it would, when it would, how it would. It’s made gold investors rich and opened up the opportunity for much more to come.
Plus, it’s also sending a message that most people have not yet heard: A grave warning to all those who are mired in traditional investment instruments and 20th century investment strategies.
I’m just back from two months touring Asia, and let me tell you: I saw no change in the vibrant rapid economic growth that’s driving gold and other commodities skyward. Not in China. Not in Singapore, India, Vietnam or anywhere on that huge continent. Not one iota of a slowdown.
But when I landed in Florida, I saw a different landscape entirely: “For Sale” and “Foreclosure” signs on every block, in every neighborhood. On some streets, more than half the homes are for sale. And then, barely a week later, the worst Labor Department report of the decade — initial shock waves of a recession already beginning to strike the U.S. economy.
For the price of gold, this is dynamite: Not only massive, still-burgeoning demand for commodities from Asia, but also, at the very same time, a massive outpouring of cold cash from U.S. and foreign central banks.
Wow! In my lifetime, I’ve seen the demand-push gold rises many times. And I’ve seen the monetary-push a couple of times. But never have I seen both of these powerful forces converge in the same time and place. And that’s exactly what’s happening right now.
But …
The Consequences of Today’s Landmark,
Historic Event Go Far Beyond Gold …
The new, all-time record high in gold today denotes and foretells:
• A whirlwind of economic and financial turmoil centered in the United States
• An even more dramatic response from the Fed and governments around the world
• Plus, a massive, worldwide inflationary surge
So hold on to your hat. Stick with all the positions we’ve been recommending! And stand by for more. This is going to be one heck of a ride!
Best wishes,
Larry
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