Gold Settles Near $1,800 as French Fears Sink Stocks!

[vodpod id=Video.14866517&w=425&h=380&fv=]

• Don’t be deceived by the financial MSM, the CNBS … hits on gold. There are no free press. Practically all the MSM are Illuminist owned. Their job is to protect the fiat currency hegemony of the Illuminist banksters. Gold is a major threat to their fiat currencies. They know that gold will rise spectacularly as the western fiat currencies implode. They are simply fighting a retrograde war to stem the rise of gold before the introduction of their One World Currency. They do not want countries all over the world to goto gold instead of their One World Currency. Gold is a calamity indicator and it is signalling imminent collapse!
  –
• The financial MSM paints the picture that most western banks are financially sound. I don’t think so! Most large western banks are bankrupt if they were to adopt fair value, mark to market accounting standards. They are essentially keeping 2 sets of books. The banks keep their dirty toxic crap off balance sheet. It is a SCAM ! Similarly, western countries are hiding the true state of their finances via fraudulent shenanigans! They are bankrupt! Even France and Germany IMO are bust!
  –
  Gold Settles Near $1,800 as French Fears Sink Stocks
  By: Reuters
  Gold climbed to a third record in a row over $1,800 an ounce Wednesday, extending its biggest rally since 2008 as a dive in French bank stocks sent new shudders through anxious financial markets.
  –
  Although it pared gains late in the day as equity markets pulled up from initial deep losses, gold’s long rally showed few signs of letting up as the locus of traders’ euro zone debt fears shifted from Spain and Italy to France, which traders fretted could be next in line for a debt crisis.
  –
  The jitters overshadowed the U.S. Federal Reserve’s unprecedented decision to promise near-zero interest rates for two years. The announcement was a double-edged sword for gold, which retreated during Tuesday’s late Wall Street rally but would also benefit from a prolonged low-yield environment. Spot gold rose more than 3 percent to hit a high of $1,796.86 an ounce, but pared gains to stand 1.5 percent higher at $1,769. It also hit record highs in euro and sterling terms. U.S. COMEX gold futures briefly topped $1,800, then settled at $1,784.30, up 2.4 percent. Gold is up 7 percent this week, and 20 percent since June, having broken cleanly above technical resistance from a near three-year trend-channel and putting its ratio to the S&P-500 stock index at the highest since 1988. But that ratio remains far below its peaks of 1980 and the 1930s, and gold is still below its inflation-adjusted high of nearly $2,500.
  –
  … shares in its banks—among the most exposed to Italian and other peripheral euro zone government debt—slumped as much as 20 percent in afternoon trade as fears about the currency bloc’s debt crisis moved back to the forefront.
  –
  Efforts to dispel those fears made only marginal impact. A Standard & Poor’s analyst said France’s AAA rating was not at risk because it was more serious than the United States in addressing fiscal issues.
  –
  Societe Generale, the bank at the center of speculation, said its exposure to peripheral euro debt was small and asked for an investigation into the rumors.

end