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Don't Sell Your Gold Because of Draghi - Michael Pento - Delta Global Advisors

Once China obtains reserve currency status from the IMF, the slow trickle of US paper sales will turn into a flood as financial institutions rush to the new yuan. And if the yuan is gold backed as many assume, the precious metals are in for a once-in-a-lifetime ride.

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Beginning of the headline :European Central Bank President, Mario Draghi, has been trying to lower the value of the euro by promising to pursue inflation with a vengeance. His inflation rhetoric was stepped up during a speech he gave to Germany on November 20th of this year. In that speech Mr. Draghi vowed to "do what we must to raise inflation as quickly as possible." Draghi's efforts to crush the euro have somehow been taken by Wall Street as a great opportunity to sell gold. But there shouldn't be a person al... Read More

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