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  • Gold all over the place

    For the first time, maintstream advice financial sellers promote gold in their mail :

    Richard Young

    Rich America
    Poor America

    Washington has great power to destroy wealth, but it has never
    possessed the power to create it.

    It never will.

    We Are On The Brink

    We are on the brink of the greatest theft of wealth the world history has ever seen. The heist is in progress.

    You have a choice right now: You can be rich or you can be poor. It’s entirely up to you and what you do next.

    I’m Dick Young and, sure, I understand the angst. What I don’t understand is why so few people are doing anything about it.

    Urgent You Act

    Do you believe you are safe in cash?

    You have opted for “a terrible long-term asset,” Warren Buffett wrote in The New York Times recently.

    Do you believe in stocks, bonds, banks or real estate. Or gold?

    Natural Gas Hits $10
    The Haynesville Shale discovery is nothing less than the Holy Grail of Natural Gas.

    And it is all in the hands of Young’s Intelligence Report’s top gas explorer.

    One new gas well is being sunk in Haynesville every 5 days. Each one is wildly profitable at an $8 spot price. At $9, the profits are shameless. At $10, investors can comfortably consider themselves genius Robber Barons.

    Dollar Crash—Gold to $2,000

    When you think about gold as an investment, you’d be wise to think about the dollar. Gold will go up if the dollar goes down, pure and simple.

    And the dollar isn’t just going down. It’s going in the crapper. The dollar has lost all credibility as a currency—especially as a reserve currency.

    You, Too, a Billionaire—Zimbabwe-Style

    The U.S. is, in dollar terms, bankrupt. How did this happen? Well, there are $800 TRILLION dollars in over-the-counter derivatives floating around in the market.

    That’s 10 times the GDP of the WORLD. These dollar-denominated paper assets are likely worthless or close to it.

    Which means that the dollar is already...effectively worthless.

    Gold Is the Standard

    This situation makes gold the de facto reserve currency. Gold alone cannot be devalued or manipulated. It is the safe haven standard of value today, just as it has been for the last 5,000 years.

    How high will gold go? I answer with another question: How low can the dollar go? In other words, there’s really no limit.

    Hi, Ho Silver!

    While the dollar’s crash and the return of global inflation is gold’s friend, it is silver that stands to benefit the most.

    Silver becomes the primary currency in a de facto gold standard simply because it is more practical. That’s why silver could go from $11 an ounce to $20 in the next several months, and hit $30 in a year.

    In a crash and an economic depression, gold and silver are your best investments. For the 10 years following the Crash of 1929, the Homestake gold mine was the top gainer on the New York Stock Exchange.

    Today, though, we can use mutual funds tied to these assets. In your economic report, Bedrock: Gold, Silver, Platinum Now, I lay out for you exactly which silver and gold mutual funds you need to be invested in BEFORE the dollar’s next big drop. Get it here.

    And this, my friend, is the expressway.

    Demand for gold has increased by almost 940% in the last year—just in the U.S. Did you know that?

    The rush to gold is driven by several factors:

    Americans have less confidence than at any recent time in their banks, according to a June Gallup Poll. Even bankers don’t trust each other, which is why they refuse to make even overnight loans. So why should you trust them?

    Demand for gold, especially in the form of American Eagle coins, is up over 800% in the most recent 14 days. So great has demand been, sales are now SUSPENDED.

    In Vietnam, where confidence in paper money is nil, demand for gold doubled in just 6 months.

    In Canada, the Royal Mint has run out of gold.

    And in Asia, 3 billion people emerging into a new middle class, are putting their wealth on their fingers, not in their bank accounts.
    In Bedrock: Gold, Silver, Platinum Now, I tell you about:

    Why you should (and how you should) buy bullion.

    Which gold coins to buy now—and at the best-possible prices.
    Panic Trigger of 2009
    Globalization Death Watch

  • #2
    Re: Gold all over the place

    First sign of a near-term peak?

    Comment


    • #3
      Re: Gold all over the place

      Originally posted by Sharky View Post
      First sign of a near-term peak?
      Or it's the last place to make money.
      Ed.

      Comment


      • #4
        Re: Gold all over the place

        Deflation/Disinflation fear in the first half of 2009 will keep a BID under the $USD. Gold to sell off. Being too early in gold is still a looser. Expect a 50% pullback down to $400 to $550.

        Bad news from retailers after Xmas, will filter further down the supply chain.

        More mortgage mess ( see MrMortgage), ALT A has not gone away.

        Govt money will make no difference. Every dollar sent to consumers will be saved or used to pay back debt. Every dollar sent to coporates will help line the pockets of soon to be sacked executives.

        Happy new year...USOD "United States Of Debt" :cool:

        Comment


        • #5
          Re: Gold all over the place

          The top would be when you hear everyone talking at cocktail parties about how much they made in gold and gold mining stocks. Final topping confirmation when gold hits the cover of investment magazines with a caption like "Gold - Best investment for the long term"

          As for my personal take on where we are, people no longer look at me cross eyed when I talk about gold investments but the vast majority still have zero invested themselves so I know we are not at a top.

          Comment


          • #6
            Re: Gold all over the place

            Originally posted by icm63 View Post
            Deflation/Disinflation fear in the first half of 2009 will keep a BID under the $USD. Gold to sell off. Being too early in gold is still a looser. Expect a 50% pullback down to $400 to $550.

            Bad news from retailers after Xmas, will filter further down the supply chain.

            More mortgage mess ( see MrMortgage), ALT A has not gone away.

            Govt money will make no difference. Every dollar sent to consumers will be saved or used to pay back debt. Every dollar sent to coporates will help line the pockets of soon to be sacked executives.

            Happy new year...USOD "United States Of Debt" :cool:
            I would love to take your action on gold pulling back to 550, i will even give u odds on that! My guess is u are talking out of your arse but then again i don't know u! All i know is gold will not trade in the 500's in 2009.
            And silver will be free at that point right?
            Last edited by j4f2h0; December 28, 2008, 02:22 PM. Reason: addition

            Comment


            • #7
              Re: Gold all over the place

              .."All i know is gold will not trade in the 500's in 2009."..

              A little nervous are we, enter the market at $1000.

              Stupid post...

              Comment


              • #8
                Re: Gold all over the place

                I've been pondering the mechanics of a reset button --how and when will it be pushed? The financial economy-real economy gulf seems unbridgeable. I guess I've been standing on the curb awaiting a funeral procession equal in pageantry to the momentousness of the event. But has the dollar expired right out from underneath us in a sort of Grand Anticlimax? Name one government or central bank whose best interest would be served trumpeting this fact. Therein lies the rationale for the eerie silence.

                The US dollar is worthless. So we HAVE been reset back to zero. It's the restart PROCESS that's being hindered. The reality is too horrific to be publicly acknowledged. So don't expect a ribbon-cutting ceremony or a Wall Street Journal headline. No one standing on a podium is going to throw a golden switch. Political instituions --governments and central banks-- will never openly acknowledge the obvious: "Dear World, due to epic dereliction of duty and a regulatory vacuum we ground your reserve currency down to nothing." Nah, they're going to sidestep the pomp and circumstance on this one. In fact these institutions are so weakened by cronyism that they are propping up zombie banks and shuffling more money into the abyss, cobbling new consumption binges. What instituion has the courage to address a world reserve currency that is effectively worthless? The BIS has come close over the last few months I think. It borders on the imponderable for anyone, least of all the power-elite. The true currency of power --money and wealth-- has evaporated.

                Even the markets, normally politically unbeholden, are still grappling with the almost-unimaginable implications. The financial engineers created so many dollar instruments that they soared beyond the intrinsic measure of global wealth (GDP) by an order of ten. It would take ten years of the world's productivity to 'pay them down'. The whole world will not submit to a decade of debt peonage to bail out the banking elite. At least, not willingly. Every time I think about this I feel like I'm in the pit of a conceptual abyss. I'm wondering if the darkest prognostications suffer from a lack of imagination.

                Comment


                • #9
                  Re: Gold all over the place

                  Originally posted by icm63 View Post
                  .."All i know is gold will not trade in the 500's in 2009."..

                  A little nervous are we, enter the market at $1000.

                  Stupid post...
                  i am willing to lay money down, why am i the nervous one? i am a gambler by profession and at heart, any nervousness i ever feel is just a perk of the job! i love action, bottom line, u making outlandish unbacked claims that gold is going to plummet through the floor seems to me like more of a stupid post! I am making an attempt to hold u to you words thats all!

                  Comment


                  • #10
                    Re: Gold all over the place

                    Originally posted by pwcmba View Post
                    The top would be when you hear everyone talking at cocktail parties about how much they made in gold and gold mining stocks. Final topping confirmation when gold hits the cover of investment magazines with a caption like "Gold - Best investment for the long term"

                    As for my personal take on where we are, people no longer look at me cross eyed when I talk about gold investments but the vast majority still have zero invested themselves so I know we are not at a top.
                    bubble? top? 1980, now that was a bubble. lined up around the block to buy gold they were.

                    this market is plain weird. coins are not a heck of a lot more popular now than a few years ago yet supplies remain tight...

                    "I've never seen a case where demand was so high and supply was so short," said Chicago coin dealer Harlan Berk, who has been in the business 44 years

                    U.S. demand for gold coins and small bars jumped 600 percent and international demand rose 121 percent, according to the council.

                    http://www.google.com/hostednews/ap/...O6u_AD95977MG1
                    but who are the buyers?

                    have 2 friends who are finally buying gold after listening to me yap about it for the past 8 yrs. they waited until they saw the 'safe to buy' signs...

                    - the price tripled... it's popular!
                    - famous people are talking about it... it's validated!
                    - the wsj and barron's are writing about it... it's safe!

                    no one i work with owns any at all.

                    folks living paycheck to paycheck are selling... that's 70% of usa households.

                    who's buying overseas?
                    TOKYO, Dec 26 (Reuters) - Japan's gold exports have doubled this year, largely due to individual investors seeking to lock in profits after gold prices soared earlier in the year.

                    In the eleven months to November, Japan's exports of unwrought solid gold, gold bars and sheet totalled 393.9 tonnes, Ministry of Finance data showed on Friday.
                    so the japanese are selling... no...

                    In October, Japan turned a net importer of gold for the first time this year.

                    Demand for gold by Japanese individual investors has risen markedly in the past few months, with a wider array of people attracted to the metal, seeking safer investments amid global financial market turmoil, industry sources said.

                    Tanaka Kikinzoku Kogyo, Japan's biggest bullion retailer, said a record number of new customers signed up for its online gold savings plan in November, which allows customers to purchase a minimum of 1,000 yen worth of gold each month.

                    http://www.reuters.com/article/goldM...29437320081226
                    confusion reigns... cross currents... whiplash... etc.

                    Comment

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