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Gold Nearing 5,000…Why?

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Published : August 08th, 2011
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Category : Gold and Silver

 

 

 

 

What is still not too late?

Citigroup is telling us that if something’s not done soon to turn things around then the price of gold could go to $5,000 an ounce and that gold at present was not over valued. And the S&P has stated it does not believe this country will ever get its financial house in order.

Well, it’s still not too late to add another few trillion into the pot just for good measure. Do you see better days ahead for a country with over 14 trillion in debt owed to the rest of the world? Who was that nut who said that the hand that gives is the hand that takes?

Boxer the dog (you & me) becomes sick and Napoleon the Pig calls for the veterinarian. But Benjamin the donkey who can read as well as any pig (he was home schooled)) notices that Boxer is being sent to the glue farm (the new government mandated health plan). As years pass the pigs in Washington learn to walk upright and Czars are appointed to stand watch over the farm animals’ last remaining wealth. Their piggy banks.

The pigs that are in power and control the laws of the land and such develop a new executive order declaring that all animals are equal. But just some are a little more equal than others. Squealer is the small white fat porker and the minister of propaganda. Squealer confuses and disorients everyone when the farm animals call for a balanced budget. No! No! No! Squealer reminds all that Christmas might not come if we pay our bills.

Well, looks like the United States credit rating was lowered. And maybe again in 6 months if someone up there in the land of the Pigs (Congressmen) doesn’t start paying attention to all that wasteful “slop” up there. John Chambers is the managing director and chairman of Standard & Poor’s sovereign ratings committee and is demanding that the US get its house in order. Start paying your bills! John went on to speak highly of Ron Paul’s single man band to encourage all to get busy paying down the debt.

Remember from 2000 to 2003 when just tiny minorities of individuals were recommending gold and silver physical? And precious metals stocks? Since then we have seen gold climb from 252 to over 1,600. Since then silver has climbed almost 10 times at its peak within the last year. Many gold and silver mining companies that had market caps under $10,000,000 have now market caps in the billions of dollars. Well, at least the principles of wealth creation are still intact.

Those were the days when mining companies had market caps less than their cash in the bank. The time to get into any market is when the blood is in the streets. In those early days Doug Casey was shouting from roof tops to back up the truck with mining shares. For those who listened to Mr. Casey they are all waiting in line to take him to lunch.

What happened to all those predicting gold would become so worthless that the last gold ounce would eventually be thrown into the depths of the sea? I believe these folk themselves are now jumping into the depths of the sea.

No more fried chicken at Grammas’ every Sunday after church. Who said, in 1811, that if the US does not elect to have a national bank within the year the US will find itself involved in a most disastrous war? I don’t think it was Bozo. It can be dangerous sometimes not to take out a loan. Wow! Was this principle ever learned by the good folk tilling the land.

The US Capital was burned to the ground. Folks learned better next time to pay heed to those European Bankers. This war brought one splendid accomplishment for the United States. Our first National Anthem was penned by Francis Scott Key. I say first because I’m certain it will be changed eventually because of its reference to war. We, at least, still get to enjoy it at ball games.

Oh, say does that star spangled banner yet wave. O'er the land of the free and the home of the brave? It will be over my dead body before I see these words and our anthem changed. And I hope many others feel as I do.

Praise the Power that hath made and preserved us a nation. Then conquer we must, when our cause it is just, And this be our motto: "In God is our trust." Go Rick Perry! There are those who are willing to live free or die. Go ahead, step again on this nations blood. From without or from within. This nation will yet fight for the God given right of freedom. We will fight here or fight on any shore that threatens our right to exist.

Bloomberg speaks and when Bloomberg speaks people listen. Bloomberg said there was a strong possibility that China may buy a trillion bucks of gold. And that China has stated, not too loudly, that a third of their $3 trillion in foreign reserves just possibly may be used to buy all that gold. Oops! Hope I didn’t say that too loud.

I read recently of the “fleets” of mining ships filling China’s harbors. And I believe Century Weekly has stated that the great Bear (Russia) has purchased recently 8 more tons of that yellow stuff. I’m personally bullish on gold and I no longer think any price of silver or gold will ever be too high.

What remains today to continue to seriously invest in? And you ask again why anyone owns and advocates gold, silver and precious metals investments?

Yes, gold and silver rule and then rule some more!

 



 

David Vaughn

  

 

 

Data and Statistics for these countries : Russia | All
Gold and Silver Prices for these countries : Russia | All
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David Vaughn is publisher of Gold Letter, Inc. Through the darkest days of gold's demise during the latter 1990's David Vaughn refused to give up on gold & throw in the towel. It is David’s goal to make available an entry portal to bring gold and resource mining stocks to the average investor. It is David Vaughn’s continuing goal to see gold’s message brought before the masses & to help provide a conduit for that voice. And what is more important than gold?
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