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I Knew I Should Have Bought Gold

Commodities / Gold and Silver 2010 Feb 07, 2010 - 10:45 AM GMT

By: I_M_Vronsky

Commodities

Best Financial Markets Analysis ArticleI. M. Vronsky, Editor & Partner - Gold-Eagle.

All should be moved by the following dramatic picture and eye-popping gold price charts. The first is an actual photo of currency traders in Sao Paulo, Brazil in early 1999.


The chart shows how the Brazilian currency (called the "real") price of gold soared nearly 80% in a two week period in January 1999. I believe the US dollar price rise of gold will be equally dramatic, violent and without notice sometime during the next 6-8 months.

Economic and monetary crisis overwhelmed Brazil - as it did a few years later to Argentina and twice in Venezuela...and is a 'preview' of what the US may well see during 2010

To use apropos Chinese cliché, "a picture is worth a 1,000 words"

--------BRAZIL JANUARY 1999

“Eu sabia que devia ter comprador ouro!”
"I KNEW I SHOULD HAVE BOUGHT GOLD”

This Brazilian picture will likely be replayed in a theater near you…in the not too distant future. ....around the globe in all countries.

--------VENEZUELA JANUARY 2002

Yo sabia que debia haber comprado el oro!
"I KNEW I SHOULD HAVE BOUGHT GOLD”

The price of gold denominated in Venezuelan Bolivars soared 800% in six years…that’s +133% per year for 6 years.

--------ARGENTINA JANUARY 2002

Yo sabia que debia haber comprado el oro!
"I KNEW I SHOULD HAVE BOUGHT GOLD”

The price of gold denominated in Argentine Pesos soared 125% in less than TWO MONTHS.

--------VENEZUELA JANUARY 2010

Yo sabia que debia haber comprado el oro!
"I KNEW I SHOULD HAVE BOUGHT GOLD”

To be sure, the Venezuelan nightmare began 9 years ago. Since then the Bolivar value of gold has soared +1,240 percent, that's an average increase of +136% PER YEAR FOR NINE YEARS. See 9 year chart:

 

Consequently, one is either on-board...or left at the station with a bag full of fiat paper, wringing his hands and screaming his lungs out:

"I KNEW I SHOULD HAVE BOUGHT GOLD!”
“Yo sabia que debia haber comprado el oro!”
“Eu sabia que devia ter comprador ouro!”


However you want to say it, never leave home without some investment in precious metals. Your personal real wealth depends on it.

Unfortunately, by yearend some hapless investors who only listen to CNBC will be crying in their beer, mumbling,    "I cudda, I wudda, I shudda...

By I. M. Vronsky
Editor & Partner - Gold-Eagle
www.gold-eagle.com

© 2010 Copyright I. M. Vronsky - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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