Skip to comments.Go For Gold: If The Fed Keeps Printing, The Dollar Will Keep Falling
Posted on 10/22/2009 5:52:22 AM PDT by blam
Go For Gold: If The Fed Keeps Printing, The Dollar Will Keep Falling
Posted Oct 22, 2009 07:30am EDT
by Peter Gorenstein
Gold bugs are buzzing with excitement. While the dollar continues to tank, the cheers from folks like Peter Schiff get louder.
Ahbay Deshpande portfolio manager with the First Eagle Gold Fund takes a more measured approach to gold. He says talk of $5000 gold an idea recently promoted by Schiff on Tech Ticker - is probably premature.
However, "eventually we'll get there," he says, noting that "as sure as the Federal Reserve will print money and credit that's as sure I am that the value of the dollar will debase."
Deshpande recommends investor put 10% of their wealth in gold bullion as an insurance policy against a myriad of potential financial pitfalls i.e., inflation, recession and currency problems.
(Excerpt) Read more at finance.yahoo.com ...
Am still not sure if the “funds” are as safe as the actual gold?
You can not eat gold. The bank won’t take gold as payment for your mortgage.
Gold is no good as gold. It has to be converted back into money before you can use it.
Before you buy gold from a company, ask them about buying the gold back from you, and at what price.
I’ve been thinking about whether I should bring the price of gold down. All I have to do is buy some, and sure as the sun rises, it’ll plummet.
It’s a super-power that I have. I have promised only to use it for good.
I’ve been waiting for a pullback to pick some up.
Thanks in advance! ;)
We need to do a reverse slit of 1 for 10 and return to making gold and silver coins. What if China and India did this, where’s that leave the U.S.???
It’s better to invest in baked beans and ammo at this point.
Good idea. If the ammo doesn’t get ‘em the baked beans will.
“Ive been waiting for a pullback to pick some up.”
Just wait till after this weekend.
As soon as I can get the time , I’m putting together a large (for me), gold and silver purchase.
They both are sure to plummet within nanoseconds of my purchase.
As sure as the sun rises in the east......
Oh, yes, it works for me with stocks too. This year, though, was the first time that not only did they recover from the effect of my purchase... but kept going up after that. It's inexplicable. Maybe I'm losing my touch. :-)
Gambling often seems to go in streaks. The stock market as much as any other form of gambling. You didn't really think you were "investing" did you? You know that none of the money used to purchase stocks, except initial offerings, goes to the company name on the certificate. Parimutuel gambling pure and simple. Purchaser guessing his bet will win against seller who's gambling his bet will win. I'm not against it, I just think it amusing how some consider it "investing" and think something is wrong with our economy when they loose their bets. Play the field, yea that's the ticket, play the field.
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