Gold reaches all time high

Gold reaches all time high

Gold reached an all time high this month closing above $2,000, Mark Cuban is selling off many of his business interests as he gets more defensive, and the UAE requests BRIC countries no longer pay for oil in dollars.

Yesterday, for the first time in American history, gold closed the month at over $2,000 per ounce. We have shown you the price of gold is accelerating in world currency units; meaning the price of gold that 95% of the world population is paying for is not only at an all-time high, but also 50% greater than the 2011 peak in US dollars, and the rate of change is accelerating. This means 95% of the world population believes it is becoming more urgent to have a gold allocation. 

Now gold has set an all-time monthly closing high in US dollars and is zeroing in on its all-time high price. 

Many advisors continue to position clients with portfolio allocations similar to what they used in past periods, when the financial markets were much sturdier. In contrast, we continue to see leading thinkers and noteworthy institutions selling dollars and assets that have risk and are now buying gold. 

This week, we heard that Mark Cuban, the famous entrepreneur from the .com crisis, who brilliantly sold his start-up company for billions right before the markets crashed, has sold his stakes in businesses to become more defensive. He has also gone as far as to remove himself from the nationally recognized Shark Tank television program. Observers are questioning what he is concerned about and what is leading him to become defensive.

Notably, China’s three institutions that were qualified to trade gold in the London bullion markets have withdrawn their participation from Western financial markets. They have done this, while continuing to encourage their citizens to buy physical gold. What are they concerned about regarding the Western financial system? Should US investors be concerned too?  

Just today, the United Arab Emirates began requesting Russia, India, Egypt, and China stop paying for oil with U.S. dollars. and instead use local currency for oil settlements.

According to The Watcher Guru, "The UAE has already initiated oil trade deals in local currencies by sidelining the U.S. dollar with BRICS member India. Over 1 million barrels of oil were shipped to India by the UAE and the payment was settled in the Rupee." 

For our readers who did not see it previously, an extraordinary admission came from a European central bank. They admitted the reason central banks around the world are buying gold is that they are preparing for the next financial system: a new gold standard.  
We strongly encourage you to allocate an appropriate portion of your wealth in physical gold; as history suggests, gold is worthwhile protection in times of rampant political indebtedness, like we have today.

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