Gold in US dollars, or as we more explicitly say around here, gold in fiat Federal Reserve notes, continues to climb a wall of worry and an eventual breach of its old August 2011 gold price high of around $1,900 oz.
Whether that happens by the lower spot gold price or the higher disconnected COMEX gold futures contract price later this year in 2020 or in the next.
That is not our task in predicting.
Last update on this channel we gave you a historically sound method to make conservative long term gold and silver price forecasts using the M0 fiat Federal Reserve note supply. You can watch that long term Gold Silver Price Forecast Calculation video here.
As bullion buyers ourselves, we see $2,000 gold in full fiat Federal Reserve notes as an absolute gimmie. And likely the eventual breakout and price support level for an exponential gold mania phase to follow as institutional money begins finally flowing in earnest into the precious metals investment sector.
The currency debasement seeds have already been sown, and this viral crisis has seemingly sped up the timetable of an inevitable yet predictable outcome for all this.Higher values for gold, which then bleed over into investor silver bullion demand, and a raging bullion bull market. The other two major precious metals should also perform well, as the cure for negative and historically low commodity prices, is that we find ourselves in a likely commodity bull market later this decade into the next.
As bullion buyers ourselves, we see $2,000 gold full fiat Federal Reserve note gold as an absolute gimmie. And likely the eventual breakout and price support level for an exponential gold mania phase to follow as institutional money begins finally flowing in earnest into the precious metals investment sector.
The currency debasement seeds have already been sown, and this viral crisis has seemingly sped up the timetable of an inevitable yet predictable outcome for all this.
Higher values for gold, which then bleed over into a laggard silver bullion bull market. The other two major precious metals should also perform well, as the cure for negative and historically low commodity prices, is that we find ourselves in a commodity bull market later this decade into the next.
Before we jump into a look at current gold spot prices around the world.
We should do a quick check on a few major data point updates so you are up to speed with the rapidly escalating figures.
Unemployment filings have now passed the 26.5 million man and woman mark. That means one of the major mandates of the private Federal Reserve is again an abject failure.
According to their very own Federal Reserve blog posts, we are only about only half way to their glib back of the napkin projections of over 50 million losing their jobs by the end of June 2020. Let us collectively hope they are proven hyperbolic.
Here is a look back at the relative slow speed bump that was the last 2008 global financial crisis for context.
The full fiat currency the Federal Reserve and US Treasury consistently remind us on prime time tell-a-vision, is one they claim ability to issue to infinity. That with mere keystrokes, and now more than ever in size and scale, has since devalued down nearly -98% versus gold bullion in less than 50 years of time, since the start of the year 1971 gold price.
What's the next 50 years gonna look like on this chart?
The ballooning balance sheet of the Fed is now past $6.5 trillion and on course at this rate to pass $10 trillion by the end of July 2020.
Financial media are now taking polls acting as if these unprecedented figures are somehow normal. We highlighted warning about this Fed balance sheet expansion inevitability years back on this SD Bullion blog. It has happened faster than anyone dared predict.
And now to our main event this week.
I hope you like price charts, because we are about to look at the world's 20 largest fiat currencies traded encompassing over 96% of collective notional FX trading volumes with the fiat currencies we are about to compare to gold.
Get ready to see a lot of technical price breakouts and new nominal record gold price highs in the “Gold's Global Fiat Currency Beatdown is On” video we embedded above.
We know many of you have tried to get your loved ones to hedge their wealth with some bullion for years.
This nearly 50 years of math and common sense might help, “Prudent Bullion Allocations using 1968 - 2016” data.
Have a great day and thanks for your interest in our content here at SD Bullion.
