Saturday, December 19, 2009, 6:40PM ET - U.S. Markets Closed.
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.
The First Eagle Gold Fund has gained about 40% this year by investing in a combination of bullion and gold mining stocks. When it comes to buying gold stocks, Deshpande recommends avoiding the "juniors," i.e. speculative miners who depend on the capital markets to fund operations, and instead invest only in "senior" miners with mature operations and strong balance sheets.
Deshpande cites Lihir Gold as a favorite and the fund's top holdings include GoldCorp, Randgold, IamGold and Gold Fields Ltd.
Keep printing the trillions DUMBO-MA and watch as the dollar grows wings as it dissapears into the wild blue yonder in the sky and into the sea // You might be keeping the markets healthy but eventually you are going to ruin this country
This man has it right on track. The FED is tanking the dollar, on purpose, because they can't clean up the mess now. The only way the greedy can keep their "status" is to destroy the economy and the working class. New Weird Odor here we come, and it ain't gonna be pretty for our children. the site below explains it quite well. www.urbanchicsoap.com/petres
Dollar is going down. No way around it. Protect your wealth, when they print money it is a hidden form of taxation in the form of inflation. You think $4.00 gallon gas was bad.... Soon it will be double or worse. GOLD AND SILVER, especially silver at current prices.
Can you believe people kill for paper money... They make that crap 24 hours a day on freak'in printing presses!!! Don't be a slave to that crappy paper. GOLD,SILVER,GUNS... I think a revolution is coming, everyone should prepare.
There is still an answer! For one trillion dollars taken direct from the stimulous, this mess could be cleaned up in 18 months. Yes, it will destroy 10,000 wealthy families, but it will save 10 million families. they are but a den of vipers and we should root em out.
The fed dangles paper money in front of the sheeple like a carrot in front of a donkey... Gives them just enough to survive and keep them in debt up to there ears... Shitty ass paper money. What happened to the constitution?? Wasn't our money supposed to be backed by gold???
This guy Donovan out in NY has called this entire unwind since the end of 2006. He even said to start buying silver at 9 bucks and ounce, even when other said it was a worthless investment because of stock. He made the claim that all currency by 2013 would be tied to a basket of precious metals and will no longer be pegged to the dollar. The Chinese have been buyin tons of silver, gold and copper mines. Park it soon like hte smart guys.
you guys are stupid gold will hit 1300 max. it is a bubble just like any other commodity. oil had a bubble that pooped so did copper. does any one remember the houseing bubble? stocks have been out performing gold two fold.
Dollar will never be strong currency agian...good buy$$$$$
I guess we are starting to see how theis recovery is turning out. In reviewing some of these quarterly reports, Banks that got government money typically exceeded expectations and shocked the world ... not really. The rest appear to have made their numbers still trhough cost cutting and not improved sales. But, I like the ones that added the comment that they expect next year to be great... that put a few extra points on their numbers and the analysts jacked up their personal profits on that nothing news. Read the latest FED Report and thought I read the Sunday Comics. The "improvements" were in areas serious affected by government money. Manufacturing is already taking a hit because there is no more Clunker Cash and real estate is soiling themselves if the Home Credit lapses. I know many of you really believe there is a recovery, and want to believe these numbers support that opinion, but a recovery is based upon the ability to stand on your own without government money over at least 3 reporting periods. You really have to wait until 2Q2010 to measure anything. I would hate to see the hedgies trap you and get your profits at the drop. Watch out for unemployment. If it ticks up ... filter through the spin ... if it ticks up, watch how fast the hedgies start to dump. Gotta go ....
The Meltdown Of The U.S. Dollar Has Begun… So What Are We Going To Do About It? http://neithercorp.us/npress/?p=176
Here's a tip for you people. I'm feeling generous today. JIN.TO is one of the largest gold mines in China and their production is increasing. They just built a new crusher facility and are almost thru testing it. Costs are being reduced. There, you heard it ... no excuses.
that guy is not convincing.gold went 4fold in 7 years.is that not making money?
Only senior miners? All I invest in are juniors.. I
IF THIS WOULD HAVE HAPPENED ON FOX, DO YOU THINK OBAMA WOULD HAVE SAID SOMETHING? CONTESSA BREWER: ------------- A Goldman Sachs adviser has an interesting theory about those exorbitant salaries given to the company’s executives. He says inequality helps everyone. Specifically, Brian Griffith says, quote, ‘we have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all.’ He says in return for those big salaries and bonuses, well, bankers should just turn around and give more money to charity. He made that statement in London yesterday during a discussion of morality in the marketplace. Well, tell that to the guys making ten bucks an hour. Joining me now to talk about this and the nation’s real problem of joblessness, the Reverend Al Sharpton. What’s your reaction to hearing someone say, you know, when it comes to income inequality, all’s well, the rising tide floats all boats? ----------------------------- JESSE JACKSON: I’m Reverend Jesse Jackson. ----------------------------- BREWER: Right, I don’t – you know, I’m so sorry, the – the script in front of me said Reverend Al Sharpton. I’m looking at your face, I know who you are, Reverend Jackson, we all do. I’m sorry. -------------- I BELIEVE MSNBC IS A RACIST ORGANIZATION AND THE FCC SHOULD BE LOOKING INTO THIS FOR POSSIBLE CIVIL RIGHTS VIOLATIONS.
Some juniors have lots of cash... I don't understand that advice. Either yer telling people to stay in cash in March or stay in index funds lately (the advice of a disgraced NY gov.), or now mining seniors... nothing wrong with juniors, you have to do a little homework, that's all..
The dollar is going no where. Gold is getting hyped ... again.
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- Thursday October 22, 2009 07:44AM EDT
WWW.USDEBTCLOCK.ORG...----------------...Dollar is finished. To be printed into oblivian baby. Get your gold and silver now while they still will trade for you little green pieces of paper.