U.S. Debt Default, Dollar Collapse Altogether Likely

[poppa bear]

Now, I've been reading this over and over again from many different analysts and I think we're in for a pretty tough year to say the least.

A currency collapse in this country would be a total disaster, but it seems that these bankers have driven this country to the brink of disaster.

This is an excerpt from an article I just read...

The prospect of the United States defaulting on its debt (http://www.goldnewswire.net/us-debt-default) is not just likely. It’s inevitable, and imminent.

The regulatory black holes into which sanity and reason disappear on a daily basis are soon to collapse under the mass of their sheer size. The circle jerk going on among G7 governments has to end – the steady advance of gold, even in the face of a managed price, exposes the real value of the U.S. dollar, as opposed to its apparent value expressed in the dollar index.
Read more.... (http://www.goldnewswire.net/us-debt-default)

[LarCO]

Feb 5 (Reuters) - Investment bank Goldman Sachs
(GS.N) raised its forecast for the price of gold <XAU=> to
reach $1,000 an ounce in the next three months from its
previous forecast of $700 due to rising investor demand for
safe haven assets. "The gold price rally has been driven by surging demand for
gold in all forms: physical gold, exchange-traded funds (ETFs),
and futures contracts as investors seek 'a safe store of value'
amid the financial distress and inflation risks," it said in a
report. It also noted that a strong relationship betwween the price
of gold in U.S. dollars and the exchange rate of the dollar
agsinst other currencies has begun to break down. Gold was
trading at $903.15 an ounce by 0038 GMT, down $1.70 from New
York's notional close.