The chart shows how the Brazilian currency (called the "real") price of gold soared nearly 80% in a two week period in January 1999. I believe the US dollar price rise of gold will be equally dramatic, violent and without notice sometime during the next 6-8 months.
Economic and monetary crisis overwhelmed Brazil - as it did a few years later to Argentina and twice in Venezuela...and is a 'preview' of what the US may well see during 2010
To use apropos Chinese cliché, "a picture is worth a 1,000 words"
--------BRAZIL JANUARY 1999
"Eu sabia que devia ter comprador ouro!"
"I KNEW I SHOULD HAVE BOUGHT GOLD"
This Brazilian picture will likely be replayed in a theater near you…in the not too distant future. ....around the globe in all countries.
--------VENEZUELA JANUARY 2002
Yo sabia que debia haber comprado el oro!
"I KNEW I SHOULD HAVE BOUGHT GOLD"
The price of gold denominated in Venezuelan Bolivars soared 800% in six years…that's +133% per year for 6 years.
--------ARGENTINA JANUARY 2002
Yo sabia que debia haber comprado el oro!
"I KNEW I SHOULD HAVE BOUGHT GOLD"
The price of gold denominated in Argentine Pesos soared 125% in less than TWO MONTHS.
--------VENEZUELA JANUARY 2010
Yo sabia que debia haber comprado el oro!
"I KNEW I SHOULD HAVE BOUGHT GOLD"
To be sure, the Venezuelan nightmare began 9 years ago. Since then the Bolivar value of gold has soared +1,240 percent, that's an average increase of +136% PER YEAR FOR NINE YEARS. See 9 year chart:
Consequently, one is either on-board...or left at the station with a bag full of fiat paper, wringing his hands and screaming his lungs out:
"I KNEW I SHOULD HAVE BOUGHT GOLD!"
"Yo sabia que debia haber comprado el oro!"
"Eu sabia que devia ter comprador ouro!"
However you want to say it, never leave home without some investment in precious metals. Your personal real wealth depends on it.
Unfortunately, by yearend some hapless investors who only listen to CNBC will be crying in their beer, mumbling, "I cudda, I wudda, I shudda..."
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