Thursday, July 14, 2011

Martin Armstrong: A Return to the Gold Standard Would Create a GREAT DEPRESSION

Martin Armstrong is back with his outlook for gold.
Armstrong is calling for gold to continue to rally and make "astronomical highs" through 2020, with the dollar as we know it disappearing as a currency.
Shorter term, Armstrong is looking for a high in August around $1700-$1730 resistance, before a new correction begins.  He believes the correction should be short lived, unless gold over-runs $1700 and extends itself up to $2,000 this summer, in which case Armstrong expects a 7 month correction into Feb 2012.

Armstrong also gives a brilliant history of the use of gold as currency, and states that a return to a gold standard would instantly create a GREAT DEPRESSION.
A return to the gold standard would cause all debts to be repaid in gold.
Think about this for a moment.  Your mortgage. Your car loans. Your student debt.  All suddenly owed to the banksters in gold, per a government decree!
As we have stated recently, a return to a gold standard is the BANKSTERS end game goal, not the goal of free money advocates!
There is no practical way to return to a gold standard without first defaulting on EVERYTHING OUTSTANDING!
We need gold and silver to trade openly in a free market, not arbitrarily set at a certain price by the government as in a gold or silver standard!
The Outlook for Gold
July 2011
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