Some miscellaneous bits of information on gold and silver. There should be more and more of these as the gold price and the silver price get higher and higher, as more and more of the trend followers jump on the trend, as more and more people look for protection of their purchasing power, of their stored value, as economic and financial rock n roll gets stronger and stronger.
An unusually interesting gold story by Bloomberg reports that there has been a surge in gold accumulation accounts amongst the Japanese public, especially young adults
Some in Zimbabwe have given up altogether on government fiat tokens:
"MDC activist Sam Chakaipa returns to his village in Zimbabwe to find his friends and neighbours starving. As the Zimbabwean dollar becomes ever weaker, gold has become the currency of choice."
The video is no longer embeddable, so, here is the link to it: Gold For Bread - Zimbabwe
R.I.P. Zimbabwe Dollar
"As I wrote on 25 June 2008, “Zimbabwe is in the late stages of a classic hyperinflation. … Inflation is galloping ahead as the supply of Zimbabwe dollars surges and the demand for them shrinks. Eventually, the currency will totally collapse as people simply refuse to accept it.” In recent months, facts on the ground have validated this prognostication. The Zimbabwe dollar is dead."
Zimbabwe Closes in on Record
"Readers will be aware that hyperinflation has long been alive, well and thriving in Zimbabwe. Back in February 2007 the country became the first to hyperinflate in the 21st century when the monthly inflation rate achieved 50 percent. This is taken as the minimum rate to allow a country to qualify as a fully paid-up member of the hyperinflation club. It equates to 12,875 percent per year.
Promotion through the ranks has been rapid for Zimbabwe. Last October it achieved second place in the all-time hyperinflators' stakes when it nudged aside Yugoslavia's January 1994 monthly rate of a miserly 313,000,000 percent.
The gold price is making a nice downward sloping flag as part of what will probably be the right hand shoulder of an upside down head and shoulders bottoming pattern. Downward sloping flags are a common occurance in bull markets.
"Gold and all things gold are now a lifeline more than an investment. If you don’t have gold you may be putting more than your portfolio in danger." - Jim Sinclair