HistoryStudent
09-26-2011, 10:55 PM
West's Wisdom
(vronsky) Sep 26, 20:40
"There's a lot of people with short memories who scream gold bubble every time this pattern repeats itself, and they are the noise in the marketplace designed to frighten average investors away from gold. While its true that nothing goes up forever, gold is responding to the continuing manufacture of debt and currency that is the financial ruling classes favorite method of bankrupting ordinary working stiffs and taking away their homes cars and toys.
Gold will resume its upward march precisely until the debt and currency nations among the G7 default through hyperinflation, and when ultimately a new currency that is managed collectively by the most prosperous nations is put forward. So that time is nowhere in sight, though the continuing viability of the current system is clearly growing more doubtful.
Make no mistake. This is a resumption of the crash that started at the end of 2008. Be ready to buy gold and silver when those markets turn, which they certainly will. The next peak in the gold price should be above $2200, and if the pattern of the last decade holds, that should be within the next 12 months.
At this point, buy I'm buying no equities whatsoever, and look to gold and silver as the only long term safe haven asset class.
I'm James West, and this is the weekend edition of Midas Letter.
************************************************** ***************
Take a look at the recent weekly chart of GLD and compare it to the price of gold.
With the recent FAKE SWITCH and BAIT - I suggest that the folks who hold and held
GLD paper value wise feel better then the physical folks - KINDA.
The recent GOLD spot take down keeps the folks in GLD - and that was mainly the BIG motive IMVHO.
(vronsky) Sep 26, 20:40
"There's a lot of people with short memories who scream gold bubble every time this pattern repeats itself, and they are the noise in the marketplace designed to frighten average investors away from gold. While its true that nothing goes up forever, gold is responding to the continuing manufacture of debt and currency that is the financial ruling classes favorite method of bankrupting ordinary working stiffs and taking away their homes cars and toys.
Gold will resume its upward march precisely until the debt and currency nations among the G7 default through hyperinflation, and when ultimately a new currency that is managed collectively by the most prosperous nations is put forward. So that time is nowhere in sight, though the continuing viability of the current system is clearly growing more doubtful.
Make no mistake. This is a resumption of the crash that started at the end of 2008. Be ready to buy gold and silver when those markets turn, which they certainly will. The next peak in the gold price should be above $2200, and if the pattern of the last decade holds, that should be within the next 12 months.
At this point, buy I'm buying no equities whatsoever, and look to gold and silver as the only long term safe haven asset class.
I'm James West, and this is the weekend edition of Midas Letter.
************************************************** ***************
Take a look at the recent weekly chart of GLD and compare it to the price of gold.
With the recent FAKE SWITCH and BAIT - I suggest that the folks who hold and held
GLD paper value wise feel better then the physical folks - KINDA.
The recent GOLD spot take down keeps the folks in GLD - and that was mainly the BIG motive IMVHO.