Shameless plug . . . but your prediction is a fairly accurate one.

Perhaps it might hit $5000 in 18 months, but I think it’ll be more like 24 months. Still, an excellent prediction from 3 years back.

Peter..love ya brother, even before i see the vid..wish i had the $ to see the Souk..i’m a great fan of Fleming & your stuff pretends to his Thrilling Cities

. . . OK, Peter, I’m gonna modify my previous remarks, and agree with your prediction (kinda/ sorta agree!).

If Chavez doesn’t get his gold back from the BOE and JPM on a timely basis, it may well set off a chain reaction among the uber-wealthy to “try to” retrieve their physical gold . . . only to be told that they can’t take it all, at this point in time (because of fractional gold reserve fraud).

If that happens, it would turn into the End Game for the fraudulent bullion banks, and gold may well go to $5,000 within the next 12 to 18 months.

obewon..always enjoy reading your comment..like the 2nd one better – Endgame for fraud in bullion..hilarious to see Cameron commenting on Gaddaffi “fraud” when he himself is prime garbage, or US “political figures” pinpointing each other as the culprit..
fraud is about to be laid bare Everywere..still, for an inside joke, Pete the Plug is appropriate, as long as we credit A$ where due – the best postage stamp financials available on a daily basis

@ timmckee:
tnks for the compliment. I prefer my second comment as well, but time will tell.

Regarding precious metals, the JPM cartel wasted no time at all last night on the Globex, when, much to their horror, gold was headed straight for the 2000 handle. I mistakenly thought they’d wait until gold got closer to 2000 before gathering their cartel clan and jerking gold/ silver back down again. A very well coordinated take-down, no doubt.

Tons of Bad News – All Discounted/ Ignored:
The markets should have fallen again today, but central banks were there to prop up the markets once again. Consider:
1. Germany’s CDU party demands gold from PIIGS if Germany is to help.
http://www.spiegel.de/wirtschaft/soziales/0,1518,781885,00.html

2. Although they’re trying desperately to hide it, global banks are insolvent, and are once again “dead men walking”; their Tier 1 and TCE ratios are abysmal. e.g. Credit Agricole: 1.4% (ouch!); BNP Paribas: 2.8%; Deutsche Bank: 1.9% (US banks are just as bad; BAC and GS falling hard today). Banks won’t get the trillions that the FED gave them a few years ago.
3. Yesterday, BAC was in a state of panic; they issued a threatening statement warning of another 2008 Market Collapse – Blames Government. Apparently, BAC wants another trillion from the FED, but this time, it ain’t gonna be forthcoming. This is fascinating reading.
Link:
http://www.zerohedge.com/news/bofa-warns-upcoming-desperate-measures-authorities-will-result-another-2008-market-collapse

I’m now waiting for the markets to fall hard again tomorrow, after today’s anomaly.

Lets get real here the only reason that they want to include gold as a teir 1 asset is so they can try fool the public again into believe their ponzi scheme paper is backed by something real physical gold. All they will do is exactly what is done with dollars today i.e. hold a minisule fraction of it and leverage it multiple times through swaps or out right lies. It’s just a way to defraud the public some more to keep the lies carosel going for more turns. These bankers can’t change thier dishonest spots they are always on the lookout for their next even bigger ponzi that they can blow up skim off and bet against, collect on, avoid prosecution and confiscation of profits then start it all over again. When it came time for collecting real gold from them all you’d get back is paper that you can wipe you backside worth. After all it’s almost there the dollar has lost 98% of it’s original value and that last 2% is getting drained and a frightening rate that is currently being hidden by smoke and mirrors but eventually the smoke will clear (.

@ Lovespuds:

Actually, you have a solid point there! As you said, “you can’t change the spots on a leopard.” Bankers know no bounds when it comes to their greed.

It’s quite possible that as the “EndGame” draws nigh, western governments will huddle with their banker cronies to concoct a new scheme and perhaps a “new USD” that appears to be partially backed by gold.

I say “appears”, because there’s already several fascinating (and perhaps, prescient!) commentaries on the Internet regarding this very topic of “scamming the public” and making the masses “believe” that the new currency (or currencies!) have some backing to them. Check them out, because they’re worth the time it’ll take to find them and read them.