A discussion of the current gold market and the economy both at home and abroad. As the price escalates to new 'psychologically important' round numbers (i.e., $1000, $1100, etc.) investors' main concern has become focused upon getting out of dollars and into gold -- with less regard for price.

In past years the mere threat/rumor of central bank or IMF gold sales would drive the gold price downward, but in the wake of the latest IMF sale of 200 tonnes to India, the price has actually risen -- to new record highs! Further, because the purchase was made by the official sector of traditionally price-sensitive Indians, the psychological signal has been sent that gold remains a good value even at this price level.

The motivation for the move into gold is that the remaining strength of the dollar is on a limited timeline. China is diversifying into gold, too, but with an emphasis on procurement of supply through mining. Meanwhile closer to home (U.S.), many financial institutions are registering record profits and paying record bonuses on the back of government stimulus programs, whereas the general public on Main Street have only inflation to look forward to as a consequence of the government's massive money pumping. Japan's record debt-to-GDP ratio is driving market speculation of an increased likelihood of default on their government bonds within five years, providing a poor outlook for systemic financial risks going forward. Featuring Pete Grant, Jonathan Kosares and George Cooper.

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