The U.S. has abused its status of having the world's reserve currency for far too long. We are on an unavoidable path towards hyperinflation. At this point, nothing can be done to prevent the Dollar from collapsing. Gold in 2008 outperformed just about every other type of asset. Gold finished the year up 5% while the DOW was down 34%, oil was down 59%... and almost all world stock markets and other commodities were down big!
If it wasn't for the forced liquidations after Lehman collapsed that forced hedge funds that were leveraged up 20 to 1 to sell all their assets... Gold would already be $2,000 per oz right now.
All of the hedge funds that speculated on Gold and bought it on huge leverage in early 2008 are now gone. The artificial pressure from deleveraging that held Gold down is now a thing of the past! There will be nothing to prevent Gold from going to $2,000 per oz in 2009!
The forced liquidations in commodities and the bursting Real Estate bubble along with retail stores going out of business... have created temporary market forces that give the illusion of deflation. This has tricked Bernanke into believing he could lower interest rates down to 0% with no consequences.
In order for our economy to ever rebound... Americans need to stop spending and start saving money. The government is doing everything possible to try and encourage more consumer spending... when consumer spending does not create a strong economy, production does!
Americans don't need to buy a new iPod, plasma TV, and cell phone every year. We are perfectly fine with what we already own. Our savings rate is now 0%, we need it to rise to 10% so that we can invest our own money into building factories that produce solar panels, wind turbines, fuel efficient automobiles,.. and other products that we can export to the rest of the world!
Obama is completely clueless... we can't jump-start an economy that is phony. All Obama is going to do with these stimulus plans and bailouts is create massive amounts of inflation and jump-start Gold!
so many people that were multimillionaires in 1999 and lost everything when the dot-com bubble burst. The only reason we didn't have a steep recession is because Greenspan created a new bubble, the Real Estate bubble.
Those who sold their dot-com stocks in 1999 and bought Real Estate did quite well.
Silver Falcon Mining (SFMI), currently $0.06, could become one of our biggest winners in 2009. This is a pink sheet stock that is not currently a fully reporting company. This creates a lot of risk, but with risk comes the potential for huge profits. SFMI could literally be sitting on a mountain full of Gold! They now have rights to properties on War Eagle Mountain in Idaho that have previously produced $370 million worth of Gold at today's prices.
Best of all, 202,000 tons of waste reserves have been left behind on the mountain and SFMI has already transferred large amounts of it to their new mill in Melba, ID, which is getting ready to open any day now! I am making plans to visit SFMI later in January to see everything first hand! My gut feeling is SFMI could make an absolutely huge move in the upcoming weeks. Just don't invest what you can't afford to lose!
I believe Silver, the metal itself, has a chance of making even larger gains than Gold in 2009. SIlver right now is not receiving any monetary premium like Gold, but it will very soon. When Gold reaches $2,000 per oz this year, it will be expensive for Americans to purchase a significant amount of Gold for their Dollars. If for $2,000 you can purchase one Gold coin or 100 Silver coins, many Americans will go with Silver because it physically looks like they are getting a lot more for their Dollars.
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