Author, businessman explains why four-digit gold signals the world has lost confidence in paper currencies
PHOENIX, Oct. 6, 2009 — Gold prices topped $1,040 an ounce today as talk of the dollar losing its reserve status and foreign countries hiking interest rates has raised concerns about the dollar's future.
The impact of the secret meetings conducted by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the dollar dumping scheme seems to point to the end of Arab oil trading priced in dollars.
According to the British Independent newspaper, "The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices."
"Gold's rally to new highs is a reflection of the weak dollar and inflationary expectations," reports Reuters.
Today millions of Americans are wondering why gold prices have tripled since 2001 and if this gold rush will continue.
Swiss America Chairman Craig R. Smith offers his insight, based on 35 years of experience in the gold market, first explained in his book, "Rediscovering Gold in the 21st Century," released in 2001.
"Four-digit gold signals the world has lost confidence in paper currencies, the Federal Reserve and the federal government. The commodity super-cycle has swept gold prices up threefold, but that's just the kickoff phase," says Mr. Smith.
Mr. Smith told CNBC last February he believes gold will rise to $1,200 by the end of this year and a new inflation-adjusted high of $2,300 in the next few years.
"The era of paper currencies and complicated structured investments is giving way to a new era of tangible assets," says Mr. Smith. "Gold is emerging as a preferred asset class in a world drowning in debt. Gold serves the public as a true barometer of public confidence worldwide."
In the 80's and 90's cash was king. But in the 21st century gold became an alternative to paper currencies, zero returns and stock market volatility. A major economic paradigm shift occurred in 2001 and has gained momentum every year since.
In reality, gold's value hasn't gone up; the world's paper currencies have gone down. For example, between 1792 and 1933 either a $20 gold piece or a $20 bill would buy a fine suit of clothing. A $20 gold piece will still buy a fine $1,000 suit, but today's $20 bill will not even buy a nice tie.
Mr. Smith's 2009 RARE OPPORTUNITY educational DVD discusses why gold is rising and offers steps to take before buying. Also available free to the public are Mr. Smith's latest special reports, "The In-Credible Shrinking Dollar" and "Gold's Future Bright," which features over eighty experts forecasting $2,200 gold prices ahead. For more information, visit
To book media interviews with Mr. Smith, contact Bronwin Barrilla at 800-950-2428.
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