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Gold backing monetary system in the making?

July 11 2011, 10:35

FMX|Connect- WWW.FMXConnect.com (Reported on 7/11/2011)

Gold backing monetary system in the making?

Source: Commodity Online

The Gold price has now stayed above $1500 since late April and is expected to reach $1600 this year and then continue to rise the following year due to growing demand from Asia. Indian demand for gold has been a major source of investment for years but now China is also acquiring gold at a rapidly fast pace. Combined with the growing demand from central banks you have a globally, long-term, uncontrollable physical gold demand.

Economists believe 20 year anniversaries are important and we have now had four of these anniversaries since 1931 when effectively the monetary system last collapsed after Austria became bankrupt, followed by Germany and then Great Britain. To read the full article, Click Here.

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