Posted on 01/12/2012 3:56:18 PM PST by appeal2
Gary Wagner stopped by the show today to explain why technical analysis along with a fundamental grasp of the underlying economic trends and issues gives us the best understanding of where gold and silver are heading. He is quite sure that the vicious precious metals correction has run its course and that we are now witnessing a new upward leg in the precious metals/commodities super-bull market. This means returns for those who are in already will abound, and buying now will be extremely positive.
It always seems hardest to jump into a market that appears to be bottoming out in the hopes that you will catch the next wave up. It requires an ability to ignore the pundits and the so-called experts and keeping your wits about you. Gary's been doing it a lot of years, and he's displaying very little concern about the downside of this move. No one knows for sure what tomorrow will bring, however we do know that history often rewards those who have the ability to deviate from the pack.
>> This means returns for those who are in already will abound, and buying now will be extremely positive.
ROFLMAO! Sounds exactly like the typical Realtor(tm) in the 2007 timeframe.
They’re not building any more gold or silver!
You don’t watch Gold Rush then.
No new construction either.
I did a quick calculation. If I had invested $1000 in a fund tracking the DJIA in 1965, it would be worth about $13,000 today. If I had kept that $1,000 in silver coins, it would be worth $20,000 today.
The only way that changes is if the Fed pulls money from the economy (fat chance) or investor thinking changes to the point that people pull money from metals and invest it in the stock market. Not much chance of the latter with Europe and Japan getting ready to default.
Sold my last coin Monday! Decided if there is a collapse I will barter with hamburger meat!
Good read here from 62 years ago:
speech given in 1948 by Howard Buffett, the father of Wall Street legend Warren Buffett, entitled “Human Freedom Rests on Gold Redeemable Money”.
http://www.fame.org/pdf/buffet3.pdf
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