I just read this article, it gives me heart as gold investor but it is terrifying. A quote follows, of the full article “The world plunges into the heart of the global systemic crisis”
In the next semester indeed, all the components of the crisis (financial, monetary, economic, strategic, social, political… ones) will converge at the height of their intensity (1). Avoiding to repeat a description of the various sequences already anticipated in the previous editions of the GEAB, our researchers have decided to describe the trends that will be at work in the world’s main regions in the next six months. Therefore they analyse eight fundamental processes that will mark the next semester and affect decisively the years 2009-2010, i.e.:
1. A Dollar in distress (EUR 1 = USD 1.75 at the end of 2008): Panic-fear of a US currency and economy collapse eats into the American collective psyche
2. Global financial system: An impossible requirement – placing Washington under international trusteeship – provokes the system’s break
3. European Union: The periphery sinks into the recession, the Eurozone only slows down
4. Asia: The « double whammy » inflation/export-collapse
5. Latin America: Difficulties increase but growth remains steady in most parts of the region, Mexico and Argentina in crisis
6. Arab world: Pro-Western regimes go adrift / 60 percent risk of socio-political explosion on Egypt-Morocco axis
7. Iran: 70 percent probability of an attack by October 2008 confirmed
8. Banks/Speculative bubbles: When bubbles collide
Gold Bullion 