Posted on 01/01/2011 2:41:10 PM PST by An Old Man
Bears are by nature cautious and while caution can be an ally, it can also be fatal where bold action is required.
It is understandable that investors who believe in paper money and paper-denominated assets do not understand gold. Gold, after all, is the natural refuge of disbelievers in the current financial paradigm; and, as today’s credit and debt-based paper markets come under increasing pressure and gold moves increasingly higher, most “paper bulls” remain increasingly perplexed.
In October 2009, when gold had again breached the $1,000 level, investment advisor Chad Brand warned investors not to jump onto “the gold bandwagon”. Unfortunately, for Mr. Brand’s clients, it was the time to jump—and still is today.
From Chad Brand, Seeking Alpha, October 7, 2009: http://seekingalpha.com/article/165317-gold-prices-a-familiar-trend
Here is a 35-year chart of gold prices. Based on what you see, would you want to jump onto the gold bandwagon?...I am bearish on gold over $1,000 per ounce and this chart is a good reason to at least be careful with the current precious metal of choice. The latest trend looks very familiar…
Chad Brand is the President of Peridot Capital Management LLC, a paper money advisory firm; and fifteen months after Mr. Brand cautioned investors to avoid the gold “bandwagon” gold is now $1,400, a 40 % gain. My advice: Avoid gold bears. They’re dangerous, especially now.
This is an Except, Read more here
In worldwide standard use for over a century.
Gold is AU.
Silver is AR.
SLV is the iShares Silver Trust ETF, GLD is the Gold Trust ETF, and those were my references. Look 'em up.
“Ummm, use it as what it really is: Money”.
...ummm, I guess you’d just shave a sliver off of a 10oz bar for a loaf of bread? A little larger sliver for meat etc?
I did not know that.
Thanks for the info.
Why would I doubt you?
I do think that people are nuts if they use any paper or instrument other than the physical metal.
First, when the excrement hits the rotary device, it will only matter what you have in hand.
Second, all confiscation LAWS are still on the books. A paper trail means that they know who to rob.
You don’t think that the messiah “king” obammy and his minions are going to stop once they steal American’s pensions and IRAs and such do you?
They WILL come for the people’s gold and silver and such also.
But, thanks again for clearing that nomenclature thing up.
So is rule 308
While it is possible to do exactly what you wrote, the better choice might be to fall back on having some smaller lumps of gold on hand. Think of all the benefits, not the least of which is; you will not have to run the risk of cutting your finger on a sharp knife.
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