FRIDAY, APRIL 8, 2011
Gold and silver is money and nothing else.
Gold and silver is money and nothing else.
Gold is a great way to preserve your money. In 1929 you could sell an ounce of gold for $20 and rent a house for a month. Right now you can sell an ounce of gold for $1450 and rent a house for one month, yes one. The dollar is going down, not gold going up. using the dollar as monetary unit of measure which is losing value, it is not so much that gold is "gaining" anything. Look at the price of cotton, sugar, oil, silver, gold, wheat, rice...they're all up by triple digits in percent relative to only a year ago! Look at the dollar index, we're dangerously close to the crucial 72 handle. Look at the yields on the 10 and 30 year bond markets. Those who naively think the system is coming back will be the ones to regret it.Silver is still a far better play. The above ground supply shrinks every year, they use far more than is mined, and most of the silver that is used is consumed. In the future when the above ground supply is depleted, and they mine less than they need, silver will be ridiculously expensive. Gold is good, silver is great.Toronto Billionaire Eric Sprott recently acquired more that 22 million oz of silver. He's a huge believer in holding physical gold and silver,
Gold is a great way to preserve your money. In 1929 you could sell an ounce of gold for $20 and rent a house for a month. Right now you can sell an ounce of gold for $1450 and rent a house for one month, yes one. The dollar is going down, not gold going up. using the dollar as monetary unit of measure which is losing value, it is not so much that gold is "gaining" anything. Look at the price of cotton, sugar, oil, silver, gold, wheat, rice...they're all up by triple digits in percent relative to only a year ago! Look at the dollar index, we're dangerously close to the crucial 72 handle. Look at the yields on the 10 and 30 year bond markets. Those who naively think the system is coming back will be the ones to regret it.Silver is still a far better play. The above ground supply shrinks every year, they use far more than is mined, and most of the silver that is used is consumed. In the future when the above ground supply is depleted, and they mine less than they need, silver will be ridiculously expensive. Gold is good, silver is great.Toronto Billionaire Eric Sprott recently acquired more that 22 million oz of silver. He's a huge believer in holding physical gold and silver,
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