GOLDBUG: Gold price predictions

Tuesday, August 24, 2010

From: reinke
Date: August 20, 2010 11:15:10 PM EDT
To:
Cc:
Subject: Re: CNNMoney – Gold is glittering again. But why?

I can give you my opinion why gold is “glittering”.

  • Tax law will change with respect to gold purchases on 1/1/2011
  • Taxes are going up dramatically in 2011; that will kill the economy. Look for 15-20% unemployment. (P.S., I think they are lying through their teeth about the unemployment rate. If you look at the unemployed, underemployed, discouraged — and even ignore the disgruntled, left the workforce, women becoming pregnant, “frozen in place” workers — I thin the current rate is in the 20’s NOW.)
  • Taxes are going to impact the profitable small businesses and kill the unprofitable or marginal ones in 2011.
  • Obamacare has frozen employers; they don’t know how much benefits are going to cost in 2011. (Insurance companies have jumped the gun and are preemptively raising rates. Small companies are figuring how to slim down under the size bar. Big companies, like ATT and Verizon, have put disclaimers in their financial reports about the benefit costs. Verizon is actually considering DROPPING benefits and pay the fine on the theory that it’s cheaper. I’m hearing rumors that large enterprises are considering how to reorganize their business units so that they would slip in under the bar. Think Comcast of South Brunswick with out sourcing contracts for all sorts of stuff and it’s a wholly owned by the stockholders who also own Comcast of North Brunswick, Comcast of Mt Holly, etc etc. Think Baby Bells and that’s the model. All to get under the size requirements.
  • Inflation is right now being artificially suppressed by the Federal Reserve printing press and they’re buying Treasury long bonds. At some point, this is going through the roof. (I’d suggest that 5-10% of EVERYONE’S portfolio should be in silver bullion coins kept in one’s basement.)

My prediction is: it depends totally on the 2010 election.

  • If it looks like the D’s are swept, things will continue in a Japanese style lost decades.
  • If it looks like the D’s are NOT going to be convincingly swept, this is going to get very ugly very fast.

Remember that the Great Depression was triggered by Smoot Hawley being passed and signed into law, it wasn’t due to go into effect for months. Now, the speed of dikw (i.e., data, information, knowledge, wisdom) flow is such that as soon as the “tipping point” is reached, the blood bath will ensue. It’ll make ’29 look tame.

In the hyperinflation scenario, I’d expect real interest rates to be double the Carter years’ 21%. I’d expect oil to be priced in gold rather quickly (i.e., remember it’s Sadam’s golden dinar exchange for Iraqi oil that got him in the USA dog house.) I’d expect food prices to quickly go up 50%. Business would lock up; Gooferment would be stalled.

The lack of funds to spend would quickly result in:

  • End of the Fed; replaced by some type of commodity money
  • Default on Gooferment debt; States’ debts; Social Security; Medicare; Medicaid
  • End of the drug war and begin to tax it.
  • End of the foreign military adventures and bring the troops home.
  • End of the “public education” of Dewey, Mann, and the teachers’ unions.

Any economic restart would probably be led by the oil producing states: alaska, texas, pennsylvania. And the breadbasket states: Kansas, California, Florida, Nebraska. To restart: Taxes would have to go down. Obamacare nuked. Flat or near flat tariffs and excise taxes. Corporate taxes to zero. Capital gains taxes to zero.

If it has to go worst case (i.e., the Gooferment doesn’t slim down to save itself in time), you might see secession. (Hey, worked for the USSR!) I’d look for Texas, Alaska, and Vermont to be first out. Followed quickly by: Hawaii; Montana / Idaho aka Jeffersonia; New Hampshire / Maine; and South Carolina. It would be politically very ugly. What does the District of Corruption do? Roll tanks into the secession states? Remember the American Revolution was fought by the 10% hot heads, where a third supported them, a third hated them staying loyal to England, and the other third could not have cared less.

Very ugly.

I predict in scenario #1 — D’s swept, gold goes to 2k by June of 2011 and in scenario #2 — D’s not swept, gold goes to 2k before the end of 2010.

Then, a similar “cliff” appears with the 2014 presidential. As long as the markets perceive BHO44 as a one termer, we get the calm lost decade scenario. If a reasonable R takes the lead — Ron Paul like fellow, calm. Even if there was a reasonable D, (although I can’t think of one who fill the bill), calm. HOWEVER, if it looks like BHO44 might be reelected, or Hillary, or any of the wackaloons, it’s “Katie Bar The Door” time again. Look for the markets to crash big time, as folks try and hit the exits at the same time.

In the calm lost decade scenario, I’d predict that gold would be at 3500$ in December of 2014. In the BHO44 reelected or any wackloon election, the “gold bugs” would be right and a 5000$ gold price would be well within reason. If you could buy ANY gold with dollars. (Think German WW1 hyperinflation or Zimbabwe!)

So, now you have my reasoning about gold. IMHO nothing but upside.

I’d try and be a little like a Mormon or the Amish. Beans, bandaids, and bullets. A year’s worth of food, sufficient medical supplies to minimize the trips to the drug store which won’t be open, and sufficient firepower to keep your beans. I’d put 10% of my capital in silver bullion 1 ounce rounds in a “basement”. And, watch very carefully how the winds blow.

imho,
tin foil hat fjohn

# – # – #

On Aug 20, 2010, at 6:48 PM, XXXXXX wrote:

Sent from XXXXXX’s mobile device from http://money.cnn.com

Gold is glittering again. But why?

Night, night. Sleep tight. Don’t let the gold bugs bite.

# – # – #

Gold prices have come roaring back in the past few weeks and are once again getting close to hitting a new all-time high. Prices were down a bit Friday. But at about $1,230 an ounce, they are still up more than 5% in the past few weeks.

The yellow precious metal rose to an intra-day peak of about $1,265 an ounce back in mid-June — the height of the fears about the sovereign debt crisis facing Europe’s PIIGS.

So why is gold on the rise again? The move is a bit curious since gold is often viewed as a classic hedge against inflation because it’s a tangible asset, unlike a paper currency. But many market experts and economists seem to be more worried about deflation than inflation.

Still, gold prices aren’t always tied to inflation expectations. The price of gold often spikes at times of fear. And with more and more concerns about how the economic recovery in the United States is losing steam, investor nervousness appears to be the most likely reason for gold’s recent move higher.

“It’s the mirror image of what’s going on with stocks. The only thing that we’re certain of is uncertainty and gold benefits from that,” said Richard Ross, global technical strategist with Auerbach Grayson, a broker dealer in New York.

Gold is undoubtedly a momentum play. With compelling reasons to avoid stocks, fears that the Treasury market may be a bubble, and concerns about both the state of the dollar and euro, gold could keep climbing.

Brian Hicks, co-manager of the U.S. Global Investors Global Resources fund in San Antonio, said gold could hit $1,300 by the end of the year and $1,500 sometime in 2011.

Hicks said that even though it may seem counterintuitive for gold to do well when people are worried about deflation, he thinks that some longer-term investors are still concerned about the potential for inflation at some point down the road. And that could push gold higher.

“Gold has been resilient in the face of a lot of discussion about deflation. But people are also discussing what the possible cure for deflation will be,” Hicks said. “That could be an expansion of government deficits and excessive printing of money. That would debase the dollar and fuel eventual fears of inflation.”

Keith Springer, president of Capital Financial Advisory Services, in Sacramento, Calif., agreed. He said gold could spike to between $1,400 and $1,500 next year.

“Gold is acting like a third currency, a crisis currency. Right now, you can buy it for deflation or inflation fears,” he said.

But the recent gold rush may not be all about economic worries.

Ross said the run-up may also have been sparked by the fact that several well-known hedge fund managers, including John Paulson, Eric Mindich of Eton Capital, George Soros and David Einhorn, have disclosed investments in various gold-related assets, such as miners and exchange-traded funds tied to gold bullion.

“There’s a dream team of investors that appear to be backing gold,” Ross said.

But Ross warned that following the lead of the so-called smart money is risky. For one, it’s tough to know for certain how big a hedge fund’s positions are in gold since many funds often make quick moves in and out of investments.

Many hedge funds may also be making bets on both the long and short side of an asset. So it may be a mistake to look at a fund’s holdings and conclude that a manager is 100% bullish on gold.

Sure, gold may have momentum on its side for now.

“Investors are attracted to things that are working. An object in motion tends to stay in motion,” Ross said.

But investors in Internet stocks, real estate and oil have all learned the hard way that this is true for both directions. Springer noted that once the trend reverses, as he believes it inevitably will, gold could crash hard.

“It’s going to take a while but once the financial crisis is over, there will be no reason to own gold,” he said.

Reader comment of the week Merger activity is starting to heat up again, a trend I wrote about on Tuesday. I noted that the increase in deal making could be a bullish sign from corporations about the economy. But not everyone agreed that merger mania is a good thing.

“In my experience, mergers were really bad for jobs, but made the financial reports look great, even if the companies were totally inefficient and wasteful,” wrote Brad Fox. “Many times I have seen corporations brag about huge revenue increases, only to find out the growth was the result of mergers, not true growth. Magic with numbers.”

– The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney.com, La Monica does not own positions in any individual stocks.

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GOLDBUG: a store of value

Monday, July 19, 2010

http://economist.com/node/16536800

Gold
Store of value
Low returns on other investments and fears about the world economy have caused the price of gold to soar. Don’t count on its continued rise
Jul 8th 2010 | Delhi and london

*** begin quote ***

The appetite for gold arises partly from the paltry, uncertain returns from more conventional investments. Gold’s main drawback is that it pays neither a dividend, like a share, nor a coupon, like a bond, nor a rent, like property. But monetary policy has been keeping official interest rates, and thus the opportunity cost of holding gold, low and seems set to do so for a while. The yields on the government bonds investors regard as safest, notably America’s and Germany’s, are also thin. Equity markets are weighed down by worries about economic growth. Investing in property, which lay at the root of the financial crisis, requires a boldness that many still lack.

At the same time, the looseness of monetary policy has made many investors fear the eventual resurgence of inflation. The wretched state of many governments’ finances makes some worry about states’ ability to repay their debts—or about the temptation to inflate them away. Banks’ exposure to sovereign debt and to a still-fragile world economy adds another layer of concerns. And when all governments would like their currencies to be weaker rather than stronger, whose paper money do you trust? Hussein Allidina, head of commodities research at Morgan Stanley, reckons: “Gold looks better every day with growing sovereign risks.”

*** end quote ***

Over the past few years, the market’s net return has been zero or maybe negative depending upon the interval, so gold and siler look good.

Cheap insurance.

If inflation spikes, it’ll really pay off.

Depending upon what loon you listen to predicting the price of gold, it could be essential.

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GOLDBUG: Speculating about gold confiscation is asking the wrong question

Wednesday, July 7, 2010

http://www.silvermonthly.com/195/government-confiscation-gold-happened-beforecould-happen/

Government Confiscation of Gold: It Happened Before — Could It Happen Again?
by: J.D. Seagraves

*** begin quote ***

Although the U.S. dollar is constantly under pressure, the U.S. government continues to stockpile debt, and impossible-to-fulfill entitlement commitments loom on the horizon, the idea that the U.S. government would try to confiscate citizens’ gold today or anytime in the foreseeable future certainly seems spurious at best. After all, the government did so in the past in order to recalibrate the gold standard, which we have not been on since 1972.

However, our government has become increasingly bold in its refusal to be restrained by the Constitution, and following the return to limited government (at least in rhetoric) by the Reagan administration in the eighties, the Constitution has been all but ignored by subsequent administrations and congresses.

*** end quote ***

Sorry, but that is absolutely the wrong question.

Yes! With Gooferment debt as far as the eye can see. And “unfunded liabilities” that even scare politicians and bureaucrats abound. (Not for the reasons you think; they are worried how they are going to collect! Did you forget the three “laws” of policial behavior again? Remember the three “laws” of political motivation: (1) reward your friends; (2) punish your enemies; and (3) feather your own nest.)

So with this “crisis” looming, the popular tin foil hat worry is “gold confiscation”. Sorry, but that won’t help the politicians and bureaucrats through this crisis. Last time, it was easy and there was enough wealth that could be stolen to make it worth their while. This time, not as many people own gold, they don’t old anywhere near as much of it, those that do own gold also own guns, the population isn’t as docile and complaint as back then, and the We, The People are aroused and as irritable as a cranky tired child .

No, there will be no “FDR-style gold confiscation” because, pure and simple, it can’t give the politicians and bureaucrats enough wealth to pay their own pensions. Or, even allow them to buy enough votes to get reelected. That’s what the “crisis” is all about.

I think the correct question is “what WILL they seize that can end the crisis?”. That’s the question.

The only pot big enough is the 401k / IRA wealth save by Americans for their retirement and held by a small number of “custodians”. 13T$! Sticking there waiting to be stolen.

That will be their target.

Of course, it will have to be done: “to save the children”. In this case, it’ll be the “child-like investor” who will be deemed to need their “retirements” protected from the inability of Wall Street to be honest and to generate the returns necessary for a “safe and secure” retirement. And, of course, the “crisis”, the American version of the “Reichstag fire”, will be to “save Social Security, Medicare, and the Drug Benefit”. There have to be some “poor children” in there somewhere.

Think back when Bush supposedly wanted to “privatize” Social Security. (Like that was going to ever happen. It sent the message that “you victims have been getting screwed big time” and now were going to “allow you to be screwed a little less”. It said sotto voce that maybe you the individual didn’t need the wise old Gooferment to plan your retirement!) Remember how the politicians and bureaucrats screamed that the Stock Market was “unsafe”. (Yeah, like getting a negative 3 per cent return on your “Social Security” investment was safe. Or, that depending upon Gooferment not to change the rules on “Social Security” again. Remember it was never going to be taxable. It was never to be changed. It was the supposed “third rail” of politics. It was “retirement insurance”)

Get ready for a large dose of propaganda!

I suspect the argument will run concurrently along several lines: “Save Social Security for Future Generations”, “Save your Social Security from the Boomer shift”, “No Social Security for the Wealthy”, “IRAs and 401ks are not ‘safe’ in the Markets”, “It’s not fair to poor people who couldn’t save”, and “The Gooferment gave you a tax break so some or all of it is theirs”. Argh!

When the Gooferment first created IRAs in my early days, I didn’t go into one because I was concerned about them changing the rules on them. If we had blogs back then, I’d have ranted about them. Eventually my then accountant, (I’ve gone through several since then), convinced me to “take the tax deduction”. It meant I paid less taxes out of my own pocket and had this pot of money, that I couldn’t touch until I was old, over on the side. Eventually, I thought this was how they were going to get out of the Social Security “problem”. (Little did I know then!) But I was concerned then about taxablity. I suspected that they end the program at a “bad time” (i.e., for the Gooferment; when they needed the money), make it all taxable right there and then, and I’d be stuck for an even bigger bill. Argh!

SO! Short story, long! No gold confiscation. IRA / 401k confiscation.

It’s easy. Only have to “rob” a few thousand “custodians” who are mostly big banks and brokerages that are already under the Gooferment’s thumb.

It’s “enough”. 13T$ will allow the Gooferment to keep on spending.

It’s “politcally feasible”. Propagandize the Sheeple. Promise them “enhanced Social Security”. (With interest rates at below 1%, how much cash flow would you have to pay on 13T$? Think lie they are taking out fixed rate mortgage and you’re stuck with the paltry returns. No adjustments. Argh!)

That’s the question.

And so what are you going to do about it.

Sheeple!

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GOLDBUG: Time to return to Constitutional money

Sunday, July 4, 2010

http://www.commodityonline.com/futures-trading/technical/Can-gold-be-valued-in-currency-or-is-itself-money-16935.html

Can gold be valued in currency or is itself money?
Published on June 21, 2010 14:45:00 IST

*** begin quote ***

My suggestion to Ron Paul and all those wanting to return to gold, is the best way to accomplish this is not by proclaiming your determination to replace the Federal Reserve Board with the gold standard, but to attack the legal tender laws of this country.

*** and ***

The key is to go after the governments monopoly on money. If broken, gold will find it’s way into the monetary system, as it is today, and reclaim it’s superior role as long as it is not prevented from doing so. Legal tender laws do just that. They prevent choice.

*** and ***

If governments fail to get their fiscal houses in order there is no telling what the future will bring. Gold offers some semblance of security. Among other things, it is a hedge against stupidity. Given the almost criminally reckless fiscal policies of government, who in his right mind would not want to protect himself. And if a currency crisis occurs, who would believe the promises of a new government paper currency in light of the broken promises of governments everywhere. Gold is not a promise that can be broken, and therein lies its present appeal.

*** and ***

To all the pundits that believe a gold standard is impractical, I suggest they look at the present fiat system and then judge it against the hundred years of monetary stability we enjoyed in years past under the gold standard. Then talk to me about which system is practical and which system is not.

*** end quote ***

The Dead Old White Guys had just experience the inflation of paper money. They saw first hand how it let the Gooferment buy more than it had without any check or balance.

By the creation of the Federal Reserve Bank —

(which: ain’t “federal”; it’s a private cartel of banks; ain’t a “reserve” of anything; it’s ious with the taxpayer being the ower; and ain’t a bank; it’s a price fixing machine that makes the bankers rich and the politicians with an unending supply of spendable “money”.)

— they have made the Dead Old White Guys’ worst nightmare true. Unchecked gooferment.

Argh!

Time to roll back “progress” and go back to gold.

As a check on gooferment spending. ANY gooferment!

How can we be “independent” without honest money?!

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GOLDBUG: A buying opportunity

Friday, July 2, 2010

Like the guy on the TV says: “Wealth Protection”. Gold has never been worth zero. Unlike the Zimbabwe dollar, the German pre-WW2 Mark, and countless other fiat currency (i.e., printing press printed paper that is only “money” because guys with guns say it is). Even the most wildly bullish tout like Kudlow, and “the every feeling is expressed” Orman, wouldn’t argue with 5 to 10% in gold. Due to the “interesting” numbers in the CFTC, the number of contracts outstanding, and the various derivatives around commodities, I’d suggest that bullion coins from a low cost / low overhead reputable dealer is the best way to have that investment. Call it Gooferment Insurance. I’d further suggest that you want “good delivery” where they put the coins in your hot little hands. Then you can put them in an interesting place (e.g., curtain rods; taped to the hidden in the wall side of your medicine chest, or (my personal favorite) inside some furniture that ain’t easy to move like a grandfather’s clock. (No fire risk. Gold doesn’t burn. Like paper money.) I don’t recommend burial because you, or your heirs, will forget where you stashed them. (And, for my fellow tin foil hats, the gooferment has ground penetrating radar.) :-) And, please, don’t even consider “numismatic coins” from ANYONE. (Overpriced misgraded and in some cases fakes and frauds. And, the Gooferment will seize them as quick as anything else if they’re desperate enough.) Remember FDR broke into bank vaults during the “bank holiday” for folks’ gold stashes.

imho ymmv faiwwypfi tanstafl!

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From: APMEX News <news@apmex.com>
Date: July 1, 2010 6:28:53 PM EDT
To: @reinke.cc
Subject: APMEX – Gold Now Below $1,200 Per Ounce

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GOLDBUG: In your back yard; not your IRA or 401k

Tuesday, June 8, 2010

http://dumpdc.wordpress.com/2010/05/30/put-gold-and-silver-in-your-ira-or-401k/

Put Gold and Silver In Your IRA or 401k

*** begin quote ***

“It’s called the American Dream because you have to be asleep to believe it.” George Carlin

In my opinion, any consideration about investment income right now is a big mistake. Your NUMBER ONE CONCERN should be protecting the purchasing power of your money.

Buy gold and silver coins and keep them in a safe at your home. Then, with your retirement accounts, transfer your positions in money markets, bonds, mutual funds and stocks into gold and silver.

*** end quote ***

I’m not sure how viable IRAs and 401ks are in the scenario where gold and silver makes sense. The politicians can “seize” the accounts via the “custodians” and you are screwed. You know that in a hyperinflation scenario that the gooferment will be desperate for funding. In even a moderate inflation, a la Carter of the 80’s, the metal in your IRA won’t help you. And, you must always remember the FDR seizure of gold.

I think 5-15% metal holding is appropriate in today’s economic climate.

BUT, BUTT (there’s always a big but), that metal is in one ounce rounds in your physical possession.

Despite Milton Freedman’s “People must work hard to dig gold out of the ground in South Africa – in order to rebury it in Fort Knox or some similar place.”, better buried in your back yard than in OHB44’s spending plan.

imho!

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GOLDBUG: Just because there’s an obvious bias, doesn’t mean what being said is wrong

Tuesday, May 18, 2010

http://www.kitco.com/ind/GoldReport/may32010.html

*** begin quote ***

In terms of preserving the purchasing power of your assets, the best thing I can think of is physical gold. That’s worked over the millennia. I’m not per se a gold bug. It just happens to be a circumstance in which it’s the cleanest asset around for that. You don’t need to put all your assets into gold, but hold some. Hold some silver. I’d look to get some assets out of the U.S. dollar and look to get some assets out of the U.S. When I say outside of the U.S. dollar, again, I look at the Canadian dollar, Australian dollar, Swiss franc in particular. I think they will tend to do particularly well, whereas the U.S. dollar is going to become effectively worthless.

As the dollar breaks down, you’ll also likely see disruptions in supply chains, including shipments of food to grocery stores. People should consider maintaining stockpiles of basic goods needed for living, much as they would for a natural disaster. I sit on the Hayward fault in California. I have a supply of goods and basic necessities in case something terrible happens—natural or man-made—that will carry me for a couple of months. It may take that long for a barter system to evolve, which I think is what you’re going to end up with; at least until a new currency system is reorganized and you get a government that’s able to bring its fiscal house into order. No currency system in the U.S. is going to work unless the fiscal conditions that drove it into oblivion are also addressed.

*** end quote ***

Ignoring for the moment Kitco’s inherent bias, (just because they’re biased, doesn’t mean they are wrong), it would seem that buying 1,000 ounces of silver rounds (about 19K$) is good “inflation insurance”. Remember Zimbabwe used silver, gold, and American dollars when their currency collapsed. A lesson form the Mormons about food storage; it’s be nice to keep a year’s worth. And, an urban yute discouragement device or two with a sufficient of individual reminders to go away, and you have a nice “insurance police” in case crazy as a loon Ferd is right once in his life. Remember forewarned is fore armed. Or, four armed. As I see it, fjohn

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GOLDBUG: But who owns it?

Monday, March 29, 2010

http://moneywatch.bnet.com/economic-news/article/is-there-gold-in-fort-knox/385523/

Is There Gold in Fort Knox?
by Constance Gustke
Jan 20, 2010

*** begin quote ***

The reason Fort Knox will remain a mighty fortress, however, may come down to something Alan Greenspan once told Paul. When Paul asked the former Fed Chairman why the Fed hangs onto its hefty gold reserves, “Greenspan said ‘just in case we need it,’” says Paul. “You hold onto it because it’s the ultimate in money.”

*** end quote ***

Yes, we should know what’s there. Otherwise, why are we paying to guard it? And, maybe we should be selling it to reduce the National Debt. Along with selling other things.

Do you think any one would buy Congress?

(That’s a trick question. We all know it’s bought and paid for already.)

More importantly, even if there’s gold in Fort Know, and possession is nine tenths, is it “ours”? Or has it been sold or mortgaged already?

We should know.

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GOLDBUG: Implication in gas

Sunday, November 22, 2009

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100002059/is-6300-fair-value-for-gold/

Is $6,300 fair value for gold?
By Ambrose Evans-Pritchard Economics Last updated: November 19th, 2009

*** begin quote ***

He sees an eery similarity between the decision of India’s central bank to buy half the IMF’s entire sale of gold, and the move by France’s central bank to start converting dollars into gold in 1965 — which was, of course, the start of the slippery slope leading to the collapse of Bretton Woods and the closure of the US gold window under Nixon.

In the gold mania that followed, the price rose to levels that matched the US dollar monetary base (it reached 140pc at the peak). If that were to occur today after Ben Bernanke’s go at the printing press, gold would have to reach $6,300 an ounce. The US owns 263m ounces of gold while the Fed’s monetary base is $1.7 trillion. Simple equation.

*** end quote ***

Wow!

This portends a very difficult time for the USA.

Gas = 3 $ / gallon ~ 0.0026 oz gold @ 1,150 $ / oz

0.0026 oz * 6,300 $ / oz = Gas 16.43 $ / gallon

At 16.43 $ / gallon, the economy stops. (Pundits have said the stop point is less than $10 / gallon.)

Argh!

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GOLDBUG: Why gold?

Monday, November 9, 2009

http://www.321gold.com/editorials/casey/casey110509.html

Why Gold Has a LONG Way to Go
Jeff Clark
Casey’s Gold & Resource Report
Nov 5, 2009

*** begin quote ***

Now ask yourself the same thing: how many of your family, friends, neighbors, and co-workers are buying gold and silver coins? Are any of them giving you hot stock tips about a fantastic gold producer, or telling you about the latest gold discovery made by a company in China? Have any fellow investors told you they’re dumping their brokers because they can select gold stocks better on their own? Anyone telling you they’re going to night school to learn the gold mining business?

*** end quote ***

Gold is the money of a thousand years. With the Gooferment spending us into oblivion, how else does one preserve wealth? And, after the “inflation tax” and “inheritance tax”, what’s left?

Argh!

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