I see no way around this. Gold is going to go up. I want to suggest something to everyone, but before I do, I feel I should say that I'm a far cry from an analytical expert being paid to evaluate and advise people on such topics. These are my personal opinions, and don't reflect on anyone, or any organization I'm affiliated with. That said...
BUY GOLD.
It's been reported yesterday that the Fed has spent over a trillion dollars this past week alone, in an attempt to hold together our financial system.
Last night, the Fed "seized" Washington Mutual and began breaking it apart, selling parts to the highest bidder. According to a NY Times article, this was put together behind closed doors, without the WaMu board being even aware of it.
Anyone who's been following the news this week knows that the federal bailout is coming apart at the seams. Yesterdays fiasco was a demonstration of the worst sort of Wrong in America today. The WaMu seizure is a last ditch effort to spur congress to pass the emergency legislation. Which is strongly questionable, and yet I still believe, very necessary. If passed today, let us hope it is followed with regulating legislation, post-haste.
Today will be another interesting day. If congress fails to come together on this bailout, we'll likely see our equity markets crashing down around us again. But today is Friday, and I will guess that if this happens, congress will convene during the weekend to deliberate and push something through.
It was also reported that China has advised their homeland banks and institutions to Not allow further funding regarding US interests. They're cutting off a major financial supply line.
Another report this week claimed much of the world has promised aid to the US; except of course, in money. They will not provide monetary support, in regard to assistance with this bailout. Which is the very sort of aid we require right now. This to include our good friends, Japan and Britain.
Door are closing.
Backs are turning.
And there's a cat-fight on the hill.
These are all very good reasons to want gold. Physical gold, but paper will do in a pinch if you're like me and aren't wealthy(per Obama's definition -not Mccain's). As I suspect the majority of you aren't, who read boards like this.
For those of you like me, who've bought Tao, let us hope we made the right choice of highest risk. If you have the opportunity, I suggest looking into other gold companies as well.
