Alex Jones & GCN Owner Ted Anderson: JP Morgan, Inflation to Trigger $2500 Gold Price


Kurt Nimmo www.infowars.com www.prisonplanet.tv August 9, 2011 Photo: Mark Herpel.Commodity analysts at JP Morgan are predicting the price of gold may hit $2500 or higher per ounce by the end of the year, the Financial Post reported on Monday. Prior to Standard & Poor’s downgrading of the debt rating of the United States, the bank thought spot gold would reach $1800 by the end of 2011. It has since revised its projection. On Tuesday, the price continued to climb above the $1700 mark. Gold futures for December delivery rose $31.90 to $1745.10 after soaring to an all-time high of $1782.50 an ounce at the Comex division of the New York Mercantile Exchange, The Street reported today. Continued fear over the growing global depression now well underway sent industrial raw materials down on Tuesday. Oil plunged more than 4 percent and copper hit an eight-month low as investors moved to sell-off risky assets. JP Morgan admits the rise the price of gold is due to inflation and continued weakness in the US dollar. The Federal Reserve is continuing its plan to destroy the dollar by dictating monetary policy and keeping interest rates artificially low. The stock market took off on yet another erratic trajectory Tuesday after the FOMC announced its intention on interest rates. The dollar fell sharply against the Swiss franc and the yen after the Fed announced it would keep the interest rate low until at least mid-2013. The Fed claims doing so will stimulate the economy, but the