Citigroup Citibank Internal Memo On Gold Price
With the ever present financial troubles all over the world, gold is posed to make a dramatic increase in price so says a recent internal memo by Citgroup Citbank. According to the memo, gold could reach $2,000 per ounce by the end of the year or early next year when the monetary and financial systems of the world completely unravel.
After the incredible magnitude of what the treasuries, mortgage lenders and banks of the world have done to get us into this mess over the years and what Congress, the President and other government of the world are attempting to do to get us out of it, life will not be going back to normal. When the full impact of what has happened is finally realized we are in for some monumental changes in the world economy, so says Citibank.
The scope of the financial bailouts promised to lenders, banks, car companies and other businesses adds up to a staggering $5 trillion and counting. You can't just take that much money and inject it into the economy without products being bought, sold and paid for and expect it not to effect our money system. The question no one seems to be asking is, "How is all this going to be paid for?" The truth is, it will be paid for by American taxpayers and most of us are already in financial trouble as it is.
One thing that could be driving the price of gold up is a report from China that the Chinese government is thinking of increasing their stash of gold from 600 tons to 4,000 tons. Why are they doing this? Is China looking at the United States and our complete fiscal irresponsibility and preparing for the inevitable? If China does increase its gold reserves by more than 6 times, gold could skyrocket and reach the $2,000 price per ounce predicted by the internal Citibak memo.
As the United States and Britain continue to print more money to finance the bailouts of failing industry, the Dollar and the Euro will continue to slide in value. But, gold will always hold some value because it is a commodity that is actually worth something. Paper inherently has no value and that is basically what our entire monetary system is beginning to be based on.
If gold is set to reach $2,000 per ounce, now may be the time to invest in gold bullion or collectible gold coins such as the St Gaudens $20 Double Eagle. Collectible coins are preferred by some because they have a value beyond that of the price of the gold in each coin. Because of certain mintage dates, coins can hold a value many times that of the gold they contain.
Please do your research and find the best investment you are comfortable with before making any purchases.