G&G Associates Tax & Financial Consulting
QUOTES OF THE WEEK
Karibu (Welcome) G&G Readers,
QUOTES OF THE WEEK:
From Richard Russell, editor of Dow Theory Letters, in remarks posted on his website on January 31st:
''What is it about gold that makes some men lust for it, while others scorn the king of metals and warn us about it? I've thought long and hard about gold and the fierce emotional response that it seems to elicit.
I think that in its essence, rising gold implies that there's something wrong in the nation and in the economy. In most people's minds, rising gold is seen as a danger signal. Rising gold is 'unsettling' to most people. They don't understand why gold is rising, and they wonder whether they should be buying gold or listening to the Fed and scorning it.
Furthermore, the media goes a long way toward muddying the waters. Most articles that appear in magazines or newspapers are written by amateur reporters who know nothing about gold, and who have just interviewed some so-called expert on the yellow metal.''
''The media has kept the US public out of, or afraid of, gold for years, thus holding back what otherwise might have been a panic by Americans to buy gold. In this way, the media has kept gold cheap, cheap enough so that the so-called gold bugs have been able to accumulate the yellow metal at bargain prices over the years.
It's amazing how sentiment can change over the years. One hundred and sixty-two years ago, Americans packed their bags, said 'good bye' to their wives, and headed West to California in the hope of finding gold. Nobody in the mid-1800s doubted the value of gold -- they just knew that they wanted it.
The media today never asks why no fiat currency has lasted for long. In 1971 Nixon slammed down the gold window because the government feared that it was losing too much gold. Yet articles continue to appear in the US media, all suggesting that gold is a hyped-up relic of the past, and that even if you like gold, it is far too expensive at its current price.''
''Ironically, the media seldom attacks the dollar or fiat currencies. The media never mentions that fact that most fiat currencies have died within 40 years of their original creation.
Yes, it's a strange, strange world we live in. And I expect the year 2011 will be a year when a great many questions will be answered. Stock market, the dollar, gold, interest rates -- we await your verdicts.
In the meantime, I believe the surest bet is as follows -- the US dollar will continue to lose purchasing power. All else will stem from that phenomenon.''
. . . and from Thomas G. Donlan, in an editorial in Barron's magazine on January 31st:
'' 'We need to out-innovate, out-educate, and out-build the rest of the world,' [President] Obama said [in his State of the Union address last week]. 'We have to make America the best place on Earth to do business.'
It's a worthy goal, but one that requires turning the clock back many years. America became the best place in the world to do business because America was out-innovating, out-educating and out-building the rest of the world for more than a century.
Because of investments made by so-called robber barons -- not only in their businesses but in great universities -- America has the biggest economy, the largest manufacturing output among the big economies, the most highly developed finance and service sectors and an entrepreneurial culture that attracts talented people and people hungry for wealth from all over the world.
What the president should have said is that we have been living too much on our income from past investments, which were mostly private investments made for profit without much restraint by government. If we are failing to reinvest and rebuild, it is because we are trying to have Uncle Sam do too much. If the U.S. is neglecting its infrastructure, a chief cause is political mismanagement.
America built its railroads primarily with private capital, for the benefit of lenders and shareholders seeking a profit. If we could say the same about highways and high-speed rail, our future would be more secure.''
Black Awareness Month Special: Sign up for a GGIS Lifetime Subscription and you’ll get a 50% discount “FOR LIFE” on getting your Taxes Prepared through G&G Associates.
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.
To become a member of the G&G Investment Society newsletter subscription, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the “Products & Services” link and we’ll get you signed up right away.
DON'T WAIT ANOTHER DAY!
- 1 year subscription - $99
- 2 year subscription - $189
- Lifetime subscription - $399
** If you sign up for a 2 year or Lifetime subscription, you’ll also get a free one hour Tax & Financial consultation (a $200 value).
If you need a one-on-one consultation to evaluate your financial situation, contact me to setup an appointment and get 2011 started off on a good note.
Until the next time,
Ankh Uja Snb (Life, Health, Strength),
Asar Gary Gray
Tax & Financial Consultant, RFC
866-361-3872 toll free fax
G&G Associates & G&G Travel are on Facebook, join our fan page.
"Any fool can make something complex, but it takes a genius to make something simple"
P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. Currently, our GGIS portfolio is packed with great plays to kick-start your portfolio for 2011.
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. Become a Fan of G&G Travel on facebook.
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.