The Controlled Descent & Devaluation of Fiat Currencies in 2013 As Central Banks Debase ▸ RESET

Fiat currencies will continue to decrease against gold as central banks continue to devalue their currency in 2013, according to Vince Lanci of FMX Connect. In this week's edition of "RESET", we examine the controlled descent of fiat currencies and take a look at how this may impact the gold market, as well as discuss Chinese gold demand, gold mining stocks and Vince's trading ranges. According to Lanci, central banks do in fact want weaker, devalued fiat currency, although they don't want fearsome headlines like "Euro circling the drain"; once they can tightly control the descent of their currencies, it will lead to a pronounced decrease in volatility, which he believes we have already begun to see. Despite his desire to shy away from making specific gold price predictions, there is one prediction Lanci is willing to make: he firmly believes that we have already begun the controlled descent "down the drain", that fiat currencies will continue to decrease against gold, and that gold will see less volatile moves to the upside in 2013. Also discussed are the growing demand for gold in China and the Chinese government's role in gold buying, as well as Lanci's trading ranges. Kitco News, Jan. 9, 2013. --- Agree? Disagree? Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com -- Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews --- Kitco News on Facebook: http://facebook.com/kitconews

Comments

1. Are these people smoking drugs? Inflation bad for Gold? LOL
2. the chinese are currently buying quite a few high cost producers here in australia, seems to me they are pretty keen at these prices... that being said aussie gold producers have taking a beating lately but i doubt its going to last much longer ;)
3. It will be a game changer if the entitlements were cut and government spending goes down in the debt limit deal that Obama wants to do as he mentioned the Medicare needs to be reformed. In Europe they call it Austerity but if Obama chickens out, then they will have to do more QE to pay for all these unfunded liabilities. Would be nice to see gold drop below 1600 for a nice buying opportunity and silver down to 25-26. Christmas sales were weak and China might not be buying much gold.
4. I love kitco news... and Daniela Cambone is awesome!