''Why Gold Is Going Much Higher''

From The Golden Truth

''I believe it’s going a lot higher…it’s going to have a parabolic spike, caused by some event or some loss of confidence…a US dollar crisis would be a perfect example. That will cause gold to go through the roof, and then everybody will want to own it…I don’t think we’re even close to that yet…Gold will probably have a much greater run than some of the other hard assets–because it’s also a currency''  - Frank Giustra, mining industry entrepreneur (one of the "architects" of Goldcorp)

''That quote is from an incredible interview with Frank Giustra''.  Well worth hearing:   LINK

..................''let's assume that the world were to resort to the old gold standard which required the value of any country's gold to represent 40% of the country's reserves.  In order for the U.S. to "monetize" its $16 trillion of on-balance-sheet debt, the price of gold would have to be reset to $23,500/oz.  That's just the direct U.S. Treasury debt and that doesn't include all the other non-direct, non-current debt obligations. It doesn't include the $7 trillion FNM/FRE debt guarantees.  And it doesn't address the private sector debt load in this country.''

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