Author Topic: Chant isn't always wrong... (Read 417 times)

Matthew · « **on:** September 20, 2007, 09:40:29 AM »

Just do a quick perusal of the "Greater Depression" subforum -- notice how many times I advise people to get their cash into gold, silver, and other practical, "tangible assets"?

Well, if you had bought any gold or silver you'd be cashing in now. It's up to $735 as we speak (and rising!)

I was certain that when it (recently) dipped down to 645, and even when it was back around 660, that it was a great buying opportunity. Problem is, I didn't have any cash myself! And I'm never so reckless as to go into debt, even if my hunch is very sound.

But anyone who bought gold a few weeks ago for $660 an ounce would be making a nice profit now that it's $735!

Matthew

Matthew · « **Reply #1 on:** September 20, 2007, 09:43:04 AM »

The dollar crashed a bunch more today (which sent gold prices up $16!) because the Saudis are going to take their currency independent of the dollar.

Keeping "pegged" to the dollar would mean inflating their OWN currency as well, and they have bad enough inflation over there.

So they are going to ditch the dollar peg, it looks like. They will keep interest rates higher, and won't match our recent interest rate cut.

So the dollar loses one MORE friend...

Matthew

Matthew · « **Reply #2 on:** September 20, 2007, 09:47:16 AM »

Dawn · « **Reply #3 on:** September 21, 2007, 08:14:26 AM »

I was thinking today as I read all of the financial turmoil, well, Chant can surely say "I told ya so"

Author Topic: Chant isn&#039;t always wrong... (Read 417 times)

Author Topic: Chant isn't always wrong... (Read 417 times)