Gold Surges On Weak Economy Data and Eurozone Debt Crisis

September 6th, 2011

FAKE NEWS for the Zionist agenda

Kurt Nimmo
Infowars.com
September 6, 2011

Gold has climbed once again as word circulates about a possible third round of money printing by the Federal Reserve on weak payroll data, tumbling stock markets, and the eurozone debt crisis.

“Gold gets a boost from further deterioration in the Greek sovereign debt crisis followed by heavy investor buying in the wake of U.S. jobs data showing no growth in employment,” James Steel, an analyst at HSBC Securities USA Inc., told Bloomberg on Monday.

The European Central Bank has exploited the debt crisis to call for eliminating national sovereignty.

Both Citibank and Goldman Sachs anticipate a third round of so-called quantitative easing following the Federal Reserve’s second round. The Fed purchased $600 billion of Treasuries in QE2 after dumping $1.25 trillion in the first round. QE4 is likely to begin this week after the Bank of London starts buying bonds.

Although gold has backed off its overnight all-time record high of $1,923.70, it is trading at $1,889.50 an ounce today.

The yellow metal is in the eleventh year of a bull run as investors diversify away from equities and fiat currencies.

“In the short term, gold prices are going to be underpinned by many supporting factors, whether it’s euro-zone debt concerns, slowing growth in the U.S. and the potential for another round of quantitative easing,” said Ong Yi Ling, investment analyst at Phillip Futures in Singapore.

“When you buy gold, it’s an insurance against systematic failure and problems in the financial markets,” investor Marc Faber told Bloomberg.

Europe’s sovereign-debt crisis has picked up steam as Greece suspends talks with its lenders and pressure builds on Italy to implement austerity measures. In Italy and Spain, trade unions are on the move against the latest austerity measures.

Finland has demanded collateral in Greece’s bailout while Germany is due in court later this week where the legality of its euro-bailout contributions will be tested.

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Comment Rules

15 Responses to “Gold Surges On Weak Economy Data and Eurozone Debt Crisis”

Who can afford gold. If the man want’s to pay me in gold that’s fine if he want’s to pay me in paper that’s fine. I’ll spend both before the month is over. The best investment for the average person is to pay a home off and stay out of debt. People who used the home as a bank to buy a boat are send the kids to school were foolish and brainwash. Life is simple you need a place to sleep and food both can be had in a few years if you don’t buy junk an toys. Also a small home is made to live in, a big house is a look at us. You don’t need mass money are gold , you need a home and food and that’s as free as you will ever be. At the same time some places aren’t worth living around even if you own the place.
I know Palin’s dirty little secret. It involves a cat and an unpeeled carrot…
How High do you think it will get before the election??? $2500??

* NEW WEAPON in the Info War

infowarrior76.com new drudge-like site with an anti-globalist mindset
This site removes comments pertaining to solutions and facts. While allowing racist comments to continue.

I am a big Alex Jones supporter and have attended rallies and so on.

Why was my comment on phrase “conspiracy theory” the REAL definition and its importance in the world removed??? With credible citation mind you… ie the dictionary…

I will be checking on all my post if I choose to waste anymore of my time with this site….

Reporting From The Front Lines of The Info War.
- I stand corrected!!! I have been shown the issue. I was mistaken and I do not care to explain. You may remove or ignore these comments.
  
  I still will be double checking my post.
  
  SORRY!!!!!
Off topic but check this headline: (they already blame Iran)

Hackers Steal SSL Certificates for CIA, MI6, Mossad

csoonline.com/article/689054/hackers-steal-ssl-certificates-for-cia-mi6-mossad?source=CSONLE_nlt_update_2011-09-06
This will be a big week for both gold and silver.

Beacon
A United States of Europe? I don’t see that happening. Theirs too many power hungry people at the TOP in each individual country, their would be a bloodbath and a fight for the power of a united Europe.

I agree on Greece though, they never should have been apart of the EU in the first place. I’m sure they cooked the books to become a member and thats what those crony bankers and politicians get!

The globalist toilet bowl got stuffed up and is overflowing on their marble floors, with no plunger.
- Way to many factions for a United Europe and the people would never buy that garbage.
Gold Silver are the only safe places to be in the market unless you have some investment real estate. I’m surprised that Silver is trading down today.
Still, you can’t eat gold. Make sure you have food first! And get out of the cities…can you feel the plaster falling from the ceiling yet? placeofrefuge2012.com
- All you people who say, “you can’t eat gold” are so stupid.
  Hey Marla, can you eat your paycheck either?
  All you have to do is convert your gold/paycheck to FRN’s.
  Doesn’t take a rocket scientist to figure it out.
  
  To all the people getting ripped off buying or selling gold, go
  to CNI for the best prices. I’ve been dealing with these people
  for over ten years and they are the best I have found.
  If you find a better price/place let me know!
  - I’m with Marla. I do have some precious metals, but I agree that water, guns/
    ammo, food and stuff are more important than metals. I’ll take my chances in
    the city. People that have no food will look in the country.
Do you really want to know who’s behind all of the buy gold hype? The truth will shock you.

Learn what Osama, Obama, Biden, Bin Laden, the FBI’s Most Wanted Terrorists, and Sarah Palin had to do with the last election and the military’s overthrow of our government. Search PalinsDirtyLittleSecret.blogspot and learn the biggest story ever before the feds block access.
- I read the book,”Creature from Jekyll Island”. I don’t have to go to that blogspot.