How ironic that the central banks of Europe and the UK have sold their gold cheaply, while Asia and the Mideast and Russia are adding in volume, and the USA claims to have sold nothing. Yet another subprime swindle for Old Europe?

Arthur Cutten, Far Hills, NJ

While I am having a good dinner with my family. I realised that
there is a transfer of wealth from the wealthy West to the emerging East. The Leaders have basically squandered away the strength of the dollar away to appease the rich and corrupt. Alas, the wealth in the East will not last, better to get my own cache of gold as all currencies will be inflated away.

Neo Yew Lam, Singapore, Singapore/SGP

Thank goodnes the Central Banks of Europe and the UK have sold their gold cheaply at the probable behest of the USA, which still claims to have all their gold, with China and Russia and most other banks seeking to increase their holdings.

Arthur Cutten, Far Hills, NJ

Well amongst all the back slapping and whoopee from Wall street it is nice to read the comments of one sensible and realistic analyst. Wall street and its whizz kids have perpetrated a huge scam against their own country and against overseas investors with their sliced and diced toxic waste dished up as triple A rated investments. Big Ben aiding his mates on Wall street has given the US dollar a well deserved shove down toward the obscurity it so richly deserves. RIP Yank dollar.

gordon, auckland, nz

There is absolutely no way that a cut in interest rates will fix the problem of all that worthless paper that someone has bought using someone else's money. And we haven't even started on the credit card debt bubble yet. Easing credit at a time like this is effectively a declaration that the US is going to get rid of its mountain of debt through hyper-inflation. Buy physical gold and bury it in the garden.

Dave, Carmoo, Australia

In case anyone buys into the claim that inflation in the U.S. is running in the neighborhood of 4 %, they should be aware that according to John Williams at shadowstats.com (who tracks these things) it looks like M3 in the USA is growing at almost 14 percent a year now. I agree that there will be a flight to safety and gold has been a haven of refuge for centuries.

I'm not sure whether the price will be $3400 or not, but since thare's lots of money available to chase a relatively small amount of gold the price is likely to be substantial

John Harsh,, Edwardsburg, MI / USA

Chris Wood - dubbed by the Wall Street Journal as "the man who saw it coming" in reference to the subprime meltdown - actually forecast the $3000 plus gold price way back in 2003.
I entirely share his views that the ructions now underway are just the beginning of a wider financial calamity. I remember when I first started buying physical gold back in 2001 that my financial advisor looked at me as if I had multiple heads.
Gold is the only the currency that will survive over time - all fiat currencies are doomed simply because all governments lie about fiscal and monetary restraint.
That whirring sound everyone can hear is from the print presses on wide open throttle. Got gold?

Rob, Perth, Australia

Some of these gold exploration stocks trading under 25 cents will make some people a fortune

Charles Nell, NY,

I think that is rereasonable, maybe $5000.00. All depending on who will or will not stop taking promissory notes. Gold is, and has been the great exchange thru out the world for centuries. It just might be again.



Russ U

Russ U, Richfield, Mn

The buy signal in Gold was when the worst chancellor in histry sold at the bottom of the market.

Brown is an accident waiting to happen, gold will rise, but I doubt it will go to 3,400 any time. We are approaching a good buying time with Indian weddings and Christmas, the dollar is weak, but only outside of America, if you live and work and play in America you will see rising prices, but a dollar is still a dollar.

The lower dollar will help the global economy and we will muscle through this episode. Remember you cannot buy a loaf of bread with a Gold ring. Get real I suggest this scribe has a good long position of Gold and wants you to help him take his profit

Peter, Chelmsford, Chelmsford, England

Gold going up is a given. Not necessairly straight up but lower left to the upper right and silver probably the same with other base metals. I fear it will happen faster than we think.
My fear of parabolic rises is chaos in the streets.
Personally I think bullion, futures, gdx and a few (unhedged)
pm stocks. Bullion is where the true value lies. It is harder to handle and store but is not a fiat instrument.

Don C, Wichita Falls, TX

$3,400 by the end of 2010? Don't know about that, but $1,000 is almost a "guarantee"! Either way, lots of money will/can be made in the next few years. Also, don't forget silver!!!

corey varner, saint michael, usa/pennsylvania

Gold is good, but silver will make you more money. Silver should provide at least twice the profit from gold.

J. Hug, St. Louis, MO USA

There has been predictions these events would unfold for years and now they have finally arrived.
What has yet to appear is the outright panick and fear that will change the landscape for years to come.
Protect yourself now to thrive through the turbulence ahead with foreign currencies, gold and gold stocks.

Alan, Calgary, AB

"The only reason gold is money is because no goernment on earth holds a mortgage against it"

Peter, Atwater, Minnesota USA

I'm afraid Christopher Wood has hit in right on the head. Buyers of credit instruments think it's good, while they've really bankrupted themselves with their purchase. Meanwhile the sellers have cashed out. Both parties spend like they're rich, but only one side is. When this fraud is revealed, all parties will flee to the only money that is not an obligation of a counterparty - gold. Once the credit is washed away, gold and currencies will find a new level, gold will settle down, and we begin again. However, if your currency is the dollar, the settled in price of gold will be very high. No harm in that.

D. Holmgren, Millbrae, CA

Read David Wilkerson's book "The Vision", written in 1974 it is quite remarkable. He writes on pg.18, "...The United States government is going to overreact to the confused economical developments... The President of the U.S. will make one, and possibly two, notional radio and TV appearances to reassure the nation that all is well, and that the best of economic times is just ahead. It will not work. People will distrust these statements, and their fears will lead to a REVOLUTION at the polls." We are seeing this unfold now. Ron Paul is the revolution needed today. We need a Ron Paul Revolution in 08. I only hope we have a country left in Nov. 08. God, Guns and Grain.

Christy, Harrison, AR

Folks,
Bank runs in England will soon be here on our shores of the good ol USA soon.. ELECTED and APPOINTED IDIOTS HAVE RUN THIS COUNTRY INTO THE GROUND. please consider Ron Paul for your vote and Financial support.. He is the Thomas Jefferson of our time! ronpaul2008.com He is the only hope for America! This country with in 2 years will be going threw a Depression that will make the depression of the 1930's look like a cake walk.. I would much rather have a constitutionalist as president then an idiot like George the dictator bush when this thing collapses. GOLD, SILVER AND STORAGE FOOD ARE WHAT YOU NEED NOW! RON PAUL IN 08!

sierra, littleton, co

You can't loose money if you buy Gold because you will not be buying it with real money !!!!!

Tony, hillsborough, New Jersey

hard times ahead

M BOOBLE, London, UK

Laurence I fear for my children and grandchildren the way this country seems to be heading. The values I knew as a child and as a navy man during the Korean War have vanished. It is sad.

Laurence Tween, Naples, Fl. USA