Economic Collapse 2012 – Are We Seeing A New Gold Rush?

September 4, 2012 4:16 pmViews: 122

 

Should You be Buying Gold?

Are we facing an economic collapse in 2012? Does the price of gold and who is buying it provide a warning as to what might be lurking on the horizon very soon? With many countries around the world being completely irresponsible with their money, which really belongs to the people who pay taxes, enriching bankers and politicians and giving in to every social program ever created, the United States and the world are facing economic turmoil like we have never seen before. It is the new gold rush of modern times.

It recently came to light that some members of the global elite and large banks are buying up and hoarding gold for unknown reasons. They most certainly have reasons, but we don't know them yet. George Soros and John Paulson both recently bought huge chunks of the gold ETF SPDR Gold Trust to the tune of millions of dollars.

At the time these billionaires purchased SPDR Gold Trust ETF, shares were around $156. George Soros increased his position to some 884,000 shares owning a total of approximately $137 million worth and Paulson increased his position to 4.53 million shares owning now over $700 million worth. Is there something we don't know? These two guys obviously have their finger on the pulse of the world economy like probably no one else. So what are they preparing for?

But then to top it all off, central banks around the world are buying gold at twice the rate they were buying it this same time last year. Gold purchases of central banks came in at 157 metric tons in quarter 2 of 2012. During the same quarter last year only 66 metric tons of gold had been purchased by these same banks.

Think what you will, but something certainly looks like we ought to keep track of what's going on here. Are the global elite and governments around the world preparing for economic collapse?

Soros and Paulson increase their stake in SPDR Gold Trust.

Gold Demand Doubles in Second Quarter.

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