This is
G&G Associates Tax & Financial Consulting
e-Newsletter
Again…Why do you not have any Gold or Silver?
Hotep G&G Readers,
At the beginning of the summer I told readers the price of Gold will hit $1300 and Silver $25 by the end of the year. Well, I hate to tell you I told you so “AGAIN”, but last weeks closing high for gold was $1296 and Silver $21.31. So far this week, Gold has reached an all time high of $1299.40. After Gold breaks through resistance at $1300…watch out $1500 and as this happens the value of those dollars in your pocket continues to go down. It’s like gravity…what goes up must come down…as the price of Gold and Silver go up…the value of your dollar goes down.
Don’t believe me…check out what others are saying as well…
QUOTES OF THE WEEK:
From Mary Anne and Pamela Aden, editors of The Aden Forecast newsletter, in a weekly update posted on their website on September 22nd:
''The Federal Reserve is concerned as their latest statement shows . . . they will put more cash in the economy if necessary to support the economic recovery. This means you can bet more quantitative easing (printing money) is coming . . . just not yet.
The markets reacted by pushing gold further into record high territory, silver reached its 1980 highs, the currencies jumped up, and so did bonds, while the U.S. dollar took an important dive.
The gold price surged forward as it nears $1300. Silver jumped even more, well above all of its highs since 1980, while copper closed at a five month high today.
Gold's phenomenal rise since November, 2008 has been impressive with not even a 14% correction along the way. In other words, gold has moved into a stronger phase of the bull market since then and it's taking off in an extended C rise. Yes, the C rise is longer than normal but this is how we see it. Gold's soaring rise of the past eight weeks has been coinciding with a fall in the dollar for the first time this year . . . Gold is super strong above $1255 as it nears our next target of $1300-$1350.
Silver has taken off and it hasn't looked back in the latest four week surge. It's super strong above $19.80 and it still has a chance to reach our next $23 target level.''
. . . and from Richard Russell, editor of the Dow Theory Letters service, in remarks posted on his website on September 23rd:
''The national debt of the US is now over $13 trillion. The unfunded debts of the US are over $50 trillion. There's no way either of these debts will ever be paid off. They'll have to be reneged on or inflated away. If the Fed tries to inflate the debts away, our creditors will eventually panic out of dollars, and the dollar will be destroyed. This is the big picture.
Therefore, the ultimate value of gold as related to dollars is potentially infinity. Most investors don't 'get' this concept. If they did, they would jump the gun and get rid of their dollars by swapping their dollars for some other asset, preferably an intrinsic asset.
The stakes are so huge, that I think of gold as outside the realm of ordinary items. Where gold is going, I don't know. How far gold will rise in the face of a doomed dollar, I don't know.
What I do know is that gold is in a massive primary bull market, a bull market that probably 95% of Americans have not joined in on. We're going to see action and phenomena ahead that have never been seen before.
Old timers smirk when you say, 'This time it's different.' Their thinking is that in the markets, nothing under the sun is ever different. I don't agree. This time, I'm convinced, it really will be different.''
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''Presently, gold prices are rising due to investor fears of further quantitative easing by several central banks. We also believe that it is our responsibility to remind gold investors what has happened in the past when gold prices have risen rapidly. Historically, gold's appreciation has created tension with some central banks who realize that rising gold price in their currency is the equivalent of a failing report card for their monetary and fiscal policies. We believe that gold will be increasingly volatile after it reaches $1,500 per ounce, and although it will move higher in the long run, holders should be ready for some serious volatility in the price. We recommend for the first time that gold be traded more aggressively after it rises above $1500 per ounce.
As a report card on how effectively countries are managed, gold has no equal. However, this very attribute of reporting on financial foibles, can make gold many enemies among powerful governments with poorly managed monetary and fiscal affairs. These governments will want to keep gold price down so gold will not be such an obvious reminder of their economic mismanagement. Be prepared to take profits on at least part of your position in gold and gold shares on price spikes and buy back on dips.''
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With the falling dollar and the explosion in gold, silver, oil and other natural resource prices, you need to stay on top of your game and manage your “OWN Finances.”
Become a GGIS subscriber now and you’ll be sure that we make sure you stay on top of your Tax and Financial Future to make sure your BUSINESS … AT HOME is protected. Remember…most people look after their bosses business, but fail to look after their own Business At home.
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Until the next time!
Ankh Uja Snb (Life, Health, Strength),
Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
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"Your mind is like a parachute, it only works when it is open."
C. Brown
P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. The recent dollar rally has actually given everyone some new opportunities to invest on the cheap. And currently, our GGIS portfolio is packed with great plays to kick-start your "anti-dollar" portfolio for 2010.
P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the “G&G Travel” link and let your travel planning begin. Let us know where you want to go and we’ll do our best to find you the best deal your money can buy.
LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.
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