Gold Broke $1600.00 an ounce<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
 
Gold has hit another milestone exceeding $1,600 an ounce. Many analysts are projecting $2000.00 an ounce gold by the end of the year.
Gold is currently priced fairly in comparison to our national debt levels. In 1999 our national debt was $4 trillion; 12 years later we are at $17 trillion in debt (once the debt ceiling is raised), which is more than a four-fold increase. In 1999 gold prices traded at $300 an ounce; 12 years later gold is at $1,600 an ounce, which is more than a five-fold increase.
With the August 2 debt ceiling deadline approaching investors are rapidly losing confidence in the ability of politicians to get a grip on the countries debt problems.
Lingering uncertainty in the Euro Zone is a wildcard. The results of European bank stress tests published Friday proved suspect.  The key thing not tested was the likely impact of a sovereign default within the Euro Zone on lenders' balance sheets, seemingly defeating the point of the exercise. The Economist newspaper put it best, drawing a parallel between the test outcome and a doctor who declares a patient complaining of chest pain to be healthy, as long as he's not having cardiac arrest.
Last week, Standard & Poor's became the second rating company to say it may cut the U.S.'s top credit grade, and the Federal Reserve said it would consider a third round of so- called quantitative easing if the economy falters. For those that missed it Fed Chairman Ben Bernanke stated that a default would be a calamitous outcome and a self-inflicted wound to the economy. It would create a very severe financial shock that would have effects not only on the US economy, but the Global economy.
Congressman Ron Paul asked Mr. Bernanke if he thought gold was money. Mr. Bernanke hesitated and then flatly said "No," nor does he think that U.S. Treasuries are money. If gold is not money, then what is money? Paper? Debt? Without a universal standard for a money system, how in the world do we establish the value of anything? Running an economy on undefined 'money' is an example of the gambling on the 'bigger fool theory, This is a terribly reckless way to run a country which controls the world's reserve currency. It is impossible for ordinary investors to get any clearer warning that cash is no longer king. Gold is the ultimate currency regardless of what the Fed Chairman thinks. I don't know about you but I'm not buying his lip service.
If you are interested in learning more about how to protect yourself from the crashing dollar and inflation, email or call my assistant Wes Peters and request your FREE information kit today. I am interested in answering all your questions and providing you with all the information you need so you can make an educated and confident decision that is best for you and your family.
 
E-mail address is [email protected] and the phone number is 877-864-1072.
 
Mike Weiner
Swiss America
Senior Account Executive
877-864-1072