Replies to post #8241 on GOLDBUGS AMEX Goldbugs Index (GOLD)

[sojourner]

4Godnwv: Very wise counsel that. Only to add the importance of timing. If one bought 1 oz. gold Kruegerrands in early 1990 at going rate of about US$425/coin, he/she would have waited 13 years just to break-even in nominal USD, inflation not factored. Of course, the gold price today highlights the truism of aurum maintaining its value over very long term. Similarly, DJIA first breached 1000 in 1966, intraday. It was a long 17 years before DJIA left the 1000 level behind convincingly. As an aside, the DJIA may be doing the lateral dance for some years to come.







These are my opinions and sentiments only. Take them for what they're worth. Do your DD. Buying stocks is risky!

"If we could sell our experiences for what they cost us, we'd all be millionaires." -Abigail van Buren (a/k/a Dear Abby)

[al44]

4Godnwv- excellent post. Anyone worried about their own financial future would do well to read it.

..........al

[Joe Kernan]

Exactly! The market shot up yesterday on Asian markets believing that government intervention will be swift and effective. When that does not happen, we may see yet another 8% sell off day. We are not out of hte woods yet, however the dollar index is seeing bloated heights, and that makes it a good time to buy gold.

Clearly, gold prices are being purposefully manipulated lower by 'selling' off of the accounting books, but the reality in the streets is that it is obvious that gold and silver are both seeing very long delivery delays: there is a shortage.

Thus, I would recommend staying out of GLD and SLV index funds: the gold that is represented there is false, and there is an increasing risk in this market that they will be called out and it will be disocered that they did not cover their paper with the real metals.

Get out of SLV and GLD before this ruse is discovered!