G&G Associates Tax & Financial Consulting
Alafia(Peace & Blessings) G&G Readers,
Just wanted to send you some tidbits from other sources to maybe validate some of the things I've been warning you about for years. If you haven't made any moves yet, please do so or you might get caught with your pants down.
I could add some more analogiies here, but I'll leave it alone and go on with the rest of my night.
IF YOU WANT TO SETUP A ONE-ON-ONE CONSULTATION, FEEL FREE TO CONTACT ME.
Asar Gary Gray
G&G Associates, RFC
Tax & Financial Consulting Services
QUOTES OF THE WEEK:
From Richard Russell, editor of Dow Theory Letters, in remarks posted on his website on December 14th:
''China is using its yuan as its currency of choice in transactions with its hundreds of trading partners. In a slick way, China is displacing the dollar as its currency of trade. There is no doubt that, in its own good time, China is preparing to make the yuan convertible. The Russell prediction -- with China now the world's biggest producer and accumulator of gold, it's only a matter of time before the Yuan becomes the world's preferred currency rather than the dollar or the euro. I think the Chinese are going to part-back the yuan with gold. If you are an overseas investor, which would you rather have, a Federal Reserve Note backed by nothing and issued by a nation that is choking on debt, or a yuan part-backed by gold and produced by a nation with a the plane's largest positive trade balance?
Remember the 'Golden Rule,' ...... 'Who has the gold, makes the rules.' And China is in a headlong drive to produce and accumulate gold.
Today, both the Wall Street Journal and the Financial Times included feature stories on China's spreading use of the yuan with its trading partners while cutting out the dollar. This is most definitely a game-changer, and it foreshadows the ultimate fall of the dollar. All this is not lost on the price of gold, which has again pushed into the area above 1400.
Ultimately, I see the whole situation accelerating, leading to a worldwide panic out of dollars. This will correspond with the third speculative phase of the great gold bull market. Gold and silver will soar higher than anyone thinks possible. And remember, much of the world understands silver and gold and they are already into these metals. In the meantime, most Americans are totally oblivious of what's going on with the dollar, with gold, and with silver, and, I might add, with China.''
. . . and from Pham-Duy Nguyen on Bloomberg on December 15th:
''The U.S. Mint may produce American Eagle palladium coins if there is sufficient evidence that investors will buy them.
The mint was authorized to produce the 1-ounce coins 'if an independent marketing study demonstrates adequate demand to ensure that the coins could be minted and issued at no net cost to taxpayers,' according to the American Eagle Palladium Bullion Coin Act of 2010 that President Barack Obama signed into law yesterday.
Demand for precious-metal coins has soared this year as investors sought a haven from turmoil in global financial markets. The U.S. Mint currently sells 1-ounce American Eagle gold, silver and platinum coins. Last month, the agency sold a record 4,260,000 ounces of silver coins.
The price of palladium, used in jewelry and in automobile pollution-control devices, has gained more than 80 percent this year and touched a nine-year high of $780 an ounce on the New York Mercantile Exchange on Dec. 3.''