Thursday, July 30, 2009
"I was reading Michael J. Panzner’s book When Giants Fall, a scary-yet-scholarly look at how the hell we got into this mess, and I was impressed with how the title When Giants Fall so perfectly describes America (the heretofore ravenous, gluttonous engine of global economics based on the fraud of an expanding fiat currency) falling on its fat, stupid face."
Read the rest of the article here.
Wednesday, July 29, 2009
Here is a good video about different ways to get into precious metals, and different things that must be considered. I believe it contains some good advice and the speaker also has some other good videos on money and investing.
Tuesday, July 28, 2009
Brien Lundin of The Gold Newsletter on Gold, Inflation, Government Spending, and The Power of Greed Over Fear
"While we certainly still have deflation, we're transitioning into an environment where the massive government spending and stimulus programs will create inflation."
"[The Markets] are moving toward a fear of inflation, or a mindset where they're preparing for the return of inflation due to the massive deficits, spending and currency creation."
"One of the things I tell people is that fear is a great motivator but greed is the greatest motivator of all. It's very surprising to many how quickly greed can return to the market. The worst feeling of all for investors is not that they may lose a portion of their investment, but that they will get left behind in a rally. They're very much trend-followers in that respect, and as we saw this spring with the rally in the US stock market and in commodities, the valuations quickly got far out of hand and very much divorced from underlying economic fundamentals."
"Perhaps the last week or so of July and the first couple of weeks in August we should get a bottom in metals prices and conversely, in the mining stocks. It will be kind of a buyer's market. Historically, it is a time when people can pick up bargains, and I think it's going to work out that way again."
"Going into the fall and, more importantly, into next year, I think the bullish factors are right for the Gold Price to perform in a very impressive fashion."
"... the only way to erase this debt is to[sic] through inflation. ... Trading partners that hold tremendous US Dollar reserves will realize this eventually. So, it's going to be a harrowing three to five years."
"WITH A CAREER now spanning three decades in the investment markets, Brien Lundin serves as president and CEO of Jefferson Financial, a respected publisher of market analyses and producer of investment-oriented events.
Publisher and editor of Gold Newsletter, launched in 1971, Lundin now figures that the worst of the financial crisis has passed and that the market "generally" will not test new lows. In this exclusive chat with The Gold Report, Brien also says we may be surprised to see how quickly greed and speculation replace the fear and trepidation that have gripped the market for the past year or so."
Read the rest of the interview here.
Monday, July 27, 2009
I thought for my first post I would avoid any technical analysis or commentary about precious metals investing and instead link to a video of a guy who has an impressive gold coin collection. I counted the coins he has here and I think he has at least 30 or 35 thousand dollars in gold.
He mentioned in the comments that he has made the perhaps unwise decision to basically put all his savings into gold - now that is a genuine 'gold bug'! That's a bit too heavy an allocation into metals for me, but then again, if his entire life savings were in some fiat currency, that might not be very prudent either.