Folks, The first bit of news that I have waited for, right from the start of the Iraqi invasion, arrived yesterday. Robert Zoelick, current World Bank President and former US Deputy Secretary of State officially announced that a new monetary system is required in order to stop governments from competitively devaluing their currencies. The World Bank President called for a new or modified global gold standard.
The second and more stunning news arrived today from China. China's lead credit rating agency reduced its credit rating for the US, citing a "deteriorating intent and ability to repay it debt obligations." Let me make this as simple as I can. The US is now faced with the decision of either defaulting on its debt or devaluing its currency. Pay attention to this choice if you own any US currency. This is only the second day of the week. A week that ends with the G20 leaders meet in Korea. The G20 politicians gathering there all seem to be followers of the Robert Mugabe school of economic thought. Five years ago, I mentioned here that gold was poised to go to $1,650. Anyone that bought gold then bought the best investment of this century. When gold reaches $1650, it will trigger a change in the monetary system. Once again, there is a lot of money to be made from this info. Mervyn1650Lobo _/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/ _/ _/ tambdimati: the Goa review is a community blog of original _/ art, writing, music, news and commentary from and about the _/ smallest state in the subcontinent. check out the newest _/ member of the Goanet family daily at _/ http://www.tambdimati.com. _/ _/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/
