With oil at over $100/barrel and gold at over $1000/oz we see a new future. Yes, a world where the dollar is worth less than before.
It could be that wages now will rise, but that is not likely due to a recession. The world we live in is getting poorer. Gold did rise as the dolar and dow fell.
People invest in gold as a safe haven in a time of trouble. The difficult days that lie ahead tell us that gold will rise in price.
We see a world where the metals are getting expensive. If oil goes up it will cost more to extract ore from the ground driving up the prices of all metals. This leads to inflation as people must spend more money to get the same things.
In the 2010-2015 time period we will deal with many problems are society faces tough new challenges. The future is murky and uncertain, but gold is a store of value in time of trouble.
Our world has limited resources and these are becoming depleted. The day will come when cheap; metals seem like a dream. In fact, soon we shall wonder how we could buy gold for so little.
The value of our work goes down. People struggle now to afford food, yet gold shines on as brillant as ever.
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