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!
Jul.13.2011
The Outlook for Gold July 2011
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