Gold Trading at $1,000 - $1,500 in 2009
While it seems high to us, we must admit that Gold has little or no resistance once we cross $1,011.
Stocks and Fraud Destroyed Wealth
Our basis for continued confidence in the Gold market is more a lack of confidence in all the other investment choices.
When Bear Sterns, AIG, Lehman Brothers, Washington Mutual, Wachovia, Merrill Lynch, and Morgan Stanley can’t run their businesses successfully, why would we want Wall Street to manage our life savings?
Clearly, investors’ confidence has been shaken in the very foundation of our free market system. The latest scam involves Bernie Madoff, former chairman of Nasdaq, who was arrested in an alleged $50 Billion hedge fund fraud.
Wall Street Has Lost Our Trust
When investors can’t trust bankers, Wall Street, or their Stock Brokers, they will seek alternatives they can trust– private, non-reportable Gold Coins.
In the flight-to-safety and rush to Gold Coins, shortages persisted and clients patiently waited weeks for bullion orders. Even the world’s leading mints could not keep up with demand for Gold Coins or Silver Dollars in 2008. At times, every dealer faced extreme shortages of American Eagles (shown above,) Buffaloes, Maple Leafs, and all newly minted Gold Coins. As we start the new year, the short supply scenario will ease slightly as the U.S. Mint releases 2009 coins. That would make this an ideal time to lock away more Gold while coins are available and prices are lower.
The Mad Rush to Safety
During this time when people are re-evaluating what investments to own in 2009 and beyond, too many people are parked in poor performing cash.
