The prospector, identified only as Caz, made the lucrative find under an old riverbed in Ballarat by using a metal detector.

The gold, which was found inside a 4.8kg hunk of quartz, is believed to weigh close to 76 ounces.

With recent economic turmoil sending the price of gold to $1600 an ounce, Caz was overjoyed but keen to keep his identity and the location of his prize discovery a secret.

A week after his find Caz dug up a smaller nugget worth $20,000.

Caz told the Ballarat Courier about his excitement at finding the larger quartz piece.

”As soon as my finger tips wrapped around the rock and I started to lift, I knew it was way heavier than just stone, ” he said.

Ballarat’s Mining Exchange Gold Shop owner Cordell Kent said the find had prompted hundreds of others to take to Victoria’s gold fields.

”The gold rush is still on,” Mr Kent told Nine News.

Recent technological improvements in the equipment used to track down gold have also contributed to a greater interest in prospecting.

“The newer technology is giving a greater depth and obviously the better depth you have the more chance you have of finding something,” said Mark Day, a spokesman for metal detector manufacturer Minelab.

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Only a few minutes ago, as I write this around 11 a.m. Phoenix time, CNBC reported that the Europeans announced a Special Purpose Vehicle (SPV) to buy up European bad debt.

This is important because the SPV goes around the wishes of the German people who don’t want to bail out Greece, Italy, and Spain.

This SPV is much like the US government’s Troubled Asset Relief Program ( TARP). As stated inConspiracy of the Rich, the name of the game for the conspiracy is “Bailout.” In this European crisis, the rich banks are set to bailout indebted countries with this SPV. Why bailout countries such as Greece and Italy? One reason is that the rich want their money back. By bailing out the Greeks, they get the Greeks to pay them the money owed them.

In other words the rich are playing games with money.

In this game, the world becomes terrified, there is a lot of noise and thunder, and then the banks ride to the rescue, saving the world economy.

As stated in other COR updates, the ultra-rich want us to beg them to print more money, even though it means higher taxes and higher inflation for all of us.

When the price of gold was climbing, it was due to fear that the rich would not save countries such as Greece. Now that this SPV is announced, people feel relived and are rushing out of gold and back into paper assets such as stocks, bonds, and cash. When rumor of the SPV came out, the prices of gold and silver began to plunge.

Does this mean the crisis is over?

I don’t think so. To me, this SPV only means higher taxes and higher inflation in the long run. To me, this SPV means Europe now has control of their own Euro printing press just as the Fed controls our printing press. To me, this means the prices of gold and silver will drop further in the short-term, which means a buying opportunity is coming.

Will the crisis get worse? I believe so.

What am I doing?

Nothing has changed. I continue to invest in debt by buying apartment houses with as much debt as possible. This is what banks want and what the government wants. The economy needs people who can handle large amounts of debt. This means I need to find apartment houses for good prices, take on lots of debt, and let the tenants pay off the debt.

When gold drops lower, hopefully to below $1,300, I’ll be buying. I’m taking the same lower-price strategy with silver and oil.

What should you do? As always, I suggest getting more financial education. If you love stocks, take classes on how to use stock options to make sure your stocks are insured in both up and down markets. If you like real estate, please take classes before investing.

This crisis will be the worst crisis for millions of people. It can also be the best crisis, if you know what you are doing.

Thank you for supporting COR.

Robert Kiyosaki

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