Friday, January 8, 2010, 7:20AM ET - U.S. Markets open in 2 hours and 10 minutes.
Gold prices rose Tuesday ahead of the Fed's meeting and are likely to continue pushing higher after the central bank's extraordinary decision to set a range for the fed funds rate of 0% to 0.25%.
Now is a great time for investors to do some "bargain hunting" in gold, says Leanne Baker, managing director of Investor Resources LLC and a former all-star mining analyst at Salmon Brothers.
Gold has held up relatively better than other assets, notably stocks, this year and has been on the upswing recently. But the metal did slide more than 25% after topping $1000 per ounce early this year, which surprised a lot of investors given the extraordinary turmoil on Wall Street and dramatic expansion of the Federal deficit.
Baker, who sits on the board of several gold mining firms, say the slide was a result of deleveraging by hedge funds facing redemptions and steep losses in other assets. "It's just a matter of time before the deleveraging process is completed [and] we'll see how quickly things can turn."
Physical demand for gold remains strong — as evinced by the U.S. Mint unable to keep up with demand — which Baker says is evidence of investors searching for a "state-less currency" as the Fed, and other global central banks, risk debasing currencies like the dollar and euro as they pull out all stops to fight the credit crunch.
Charles T, is right. The people are ALWAYS behind the market. That's because the people are asleep, don't really study the issues and are uneducated. "They" want it that way. We're a nation of mushrooms. They keep us in the dark and feed us a lot of manure. So, if "they" tell you to buy, sell! If "they" tell you to sell, buy! You cannot believe how many phone calls I got when gold was at a $900.00 and oz and silver was at $25.00 an oz. I bought a stock in a good company that had been hammered and trippled my money in less than a week. I also paid the mortgage off on a rental unit, sold stocks high before the crash, and now the rent is pure gravy.
John Robinson has the right idea. Too bad most people think of gold and silver as unattainable assets. Instead of buying that carton of cigarettes or unloading your purse into a vending machine, go get some gold and silver. It's only been a world standard currency for as long as civilization has been around. The only real currency, despite what the central banks try to make us all believe. Gold and silver never loses real value. It's the dollar that loses value because it is backed by nothing and is regulated and printed by a private entity, not answerable to anybody.. A dollar is a receipt of debt.
John Robinson has the right idea. Too bad most people think of gold and silver as unattainable assets. Instead of buying that carton of cigarettes or unloading your purse into a vending machine, go get some gold and silver. It's only been a world standard currency for as long as civilization has been around. The only real currency, despite what the central banks try to make us all believe. Gold and silver never loses real value. It's the dollar that loses value because it is backed by nothing and is regulated and printed by a private entity, not answerable to anybody.. A dollar is a receipt of debt.
The Government now will ignite inflation to try to get us out of this mess, as Governments always do. The debasement of our money results in an effective tax on everybody that cannot be rebuked or resisted by the people. Inflation has always been the easiest of taxes to impose. Gold and oil have to rise. But maybe stocks too... who knows? I'm thinking something is coming.. the world is long overdue for good news. Maybe a new energy source or other technological breakthrough. We are not more than 30 years away from commercial fusion power if we wanted to commit the money and resources to do it.But is there the political will to do it? Do people even care about this kind of stuff anymore? I don't know. The state of Brittney Spears underware seems more of interest in most people that the state of the Nation or our 'real' lives. Can we 'wake up' from this insanity and change things.. go back to being a decent, intelligent society that cares about learning and living a truly human life? I really don't know anymore. It's tough. You can make strong arguments for a multitude of economic scenarios. Hedge your asset allocation accordingly.. and yes, it would not be a bad idea to buy a good rifle and shotgun too. Be prudent and reasonable... if eveyone does so, maybe the American people can turn this around. I think that's the only way to bet. But make sure you have enough ammo stored too! Don't go down on strikes looking. God help us all...
Gold is ultimately about freedom. Freedom from the bankers, freedom from oppression, and the freedom to conduct the business of life and the pursuit of happiness without interference from those who make their livelihoods through the overt confiscation of private property (taxation) and/or the concealed confiscation of private property (inflation). It's probably fair to assume that the rest of the world understands this concept and will take advantage of it to break the dollar and with it, the U.S. government's foreign influence.
John Robinson: You are right on. And as things happen and this economy falls apart more people will realize that. While gold is relatively cheap its a great time for us to get it now. We will need it later!
Are you kidding me? Rates at 0, now what? "all other tools"... really, like what? No more room to give on rates, 700b in bailout money, and what do we have to show for it? A bear market rally. All you fools pumping money into the market cause you think it bottomed...take a look at history and the rally before the big crash of the depression. You will see, 4Q earnings are shot to hell and the worst has not even begun yet. Buy gold, food and ammo... God help us all.
Cutting the consumer with a knife.... you have bleeding bodies all over the place. Call the police....
There has got to be some company working on a cure for guys like (the poor guy in the video) who has such a bad tick that he can barely control the movements of his head. It just keeps snapping from right to left a terrible rate. Is his name really Tech Ticker or is that just a mean nickname ? Or is he watching a ping-pong game on his monitor perhaps ?
I'LL say it again. How stupid is Russia for not abandoning the ruble for coin currency laced with traces of gold. Russians are always suffering with huge devaluations of the ruble, while AMERICA with massive debt and printing money out of thin air doesnt suffer TRUE devaluation. The worlds financial center RIGS the vavlue of the dollar, NOT TO PLUMMET. Why does russia put up with this RIGGING? The only way to fight back is to immediately: abandon paper ruble and go to coin currency with traces of gold in it. Why keep takin AMERICAN LIES!
I see no good investments at this time. Gold has inflated to rapidly over the past year and a half like the stock market did. Real estate is still inflated in popular areas. Fertilizer has dropped but still seems quite inflated still. Financials are in the toilet and nobody dares go near them. Oil is cheap now but the oil stocks such as XOM are still quite high. Maybe USO is a good buy now, I dunno, what do you think?
The US corporate state is corrupt, and run, financially, by a set of criminal syndicates coordinated by the Fed and Treasury. The US Dollar is indistinguishable from counterfeit paper, which is also widespread. The Congress and the Media are bought and paid for by the crime syndicates, and the American people are being financially destroyed, deliberately. High school student "governments" and debating societies have more cred than the ornate and pompous legislators that are manipulated by the likes of Paulson, Bernanke, and Kashundkarry. JPM, Goldman, AIG and Citi are criminal enterprises disguised as financials. No institution in this fascist corporate state can be trusted, the root of the "crisis in confidence". The commodity takedown and general market crash of the past few months have been intentional, in part to control Russia/China and prop up the toxic dollar through deleveraging and bs flight to fake safety. Wealth transfer is a root motive, as frightened people trade their tangible assets in precious metals and energy to the same thieves that brought us fraudulent securitization. The Fed criminals refuse to turn over FOI records of what they have done with TARP funds. Don't be fooled by these conmen, stay with silver, energy, and stay out of debt. This week will be critical, watch Algiers and watch the Princeton pretender sweat.
Why save your money in a bank? CDs are next to nothing, might as well take out your extra cash and get a home safe. Your cash may be a lot more safe.
When these market "analysis" say buy, their selling, and when they say sell, their buying. You cant trust people anymore, if you want to invest do your own du diligence. YOU SIMLPY CANT TRUST WALL STREET!
I just bought some physical Palladium, which looks cheap to me. Good luck finding any near spot, though. Anyone here really wondering what to do? First, pay off all of your debts. Debt is slavery. Second, take your money out of the banks. You are not being compensated for letting them use it. Third, quit your job and take a year off. Everyone needs a break, so take one while there is not much money to be made. Last, buy things you need, before the dollar collapses, which it will.
The overall market is pretty much going to remain within a trading range. The Dow might lift due to relative valuations... but with the aging American consumer, two-thirds of the economy is likely to see a deleveraging of credit. The announced lay-offs will become real later this spring, and should provide a second down tier to the economy. My guess is gold is trading on its crisis hedge in that it is far above the gold/oil ratio of one ounce per nine barrels.
Could someone direct me to the food stamp line. Lost my ass and all the fixtures. they can have this big ole house and the payments too.They got us right where they want us. Broke and working for nothing. I don't like working for them rich bastards.
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Yahoo! Finance User - Tuesday December 16, 2008 05:03PM EST
All Hail The FED!!!!!! They are going to Save Us with cutting Interest Rates!!! Now is the time to Borrow as if there's No Tomarrow. Oh, and I forgot to add, Dont worry about paying the Loans Back! The contract laws have All been Demolished!!!!!!!!!! Borrow and Spend for Free!!!!!!! But act quickly before the jig is up!!!