From CNBC:
…Greenspan seems to view gold as an important indicator of what’s going on in the global economy, especially as central banks around the world jump into the gold rush.
“What the price of gold is saying is essentially that there are elements within the marketplace which feel very uncomfortable with respect to what’s going on generally,” the former Federal Reserve chairman said. “It’s not an accident that you’re finding that central banks are going in to buy gold.”…
To translate from the Bankerese – fiat currencies (like our dollar) are perfectly worthless these days and anyone who wants to have value on the other side of the crash is buying gold.
We’re in a world of trouble what with revolutions spreading and prices spiking and a US government which either cannot or will not exercise any control over events. We’re just sitting here, now, waiting for it all to blow up.
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