The Strong Dollar is a Strong Myth

Today, we had a dollar rally in the face of declining oil prices and gold got whacked, down $30.

However, there is no reason to give up on gold. In fact, the more it declines, the better time it is to buy gold. The trend is still your friend. Gold is still in a bull market. Here’s why you need to hold your gold and accumulate more of it:

1. Oil prices declining is simply a correction in the market. Oil was way over bought when it jumped to 130, then 140/barrel. What we have now is a normal market correction, and not surprising if you have followed the markets for any length of time. This temporary drop in oil prices has allowed for a temporary rally in the dollar. Nothing surprising about any of it, but keep the big picture in mind: we still have peak oil to deal with, and we still have an inflated dollar to deal with.

2. The fed will likely lower rates next time. Lowering rates causes more inflation. More inflation means a lower dollar- and higher gold.

3. We still have to deal with a $9.6 trillion (and growing) debt. This means that in the future, the fed will crank up the printing presses at an alarming rate- possibly enough to completely destroy the dollar. Do you want to be holding on to your worthless paper as this happens?

4. The Fall is historically gold buying season. We’re still in the summer, but many gold rallies over the years have started in mid-August, which will be in a few days.

Buy gold safely and store it out of the U.S. by using goldmoney.com!

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1 Comment

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One response to “The Strong Dollar is a Strong Myth

  1. We need to abolish the Fed and re-establish a gold standard.

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