Monday, October 4, 2010

Bob Chapman , in Gold and Silver you buy and Hold

Bob Chapman on Gold and Silver discount trading 01 Octb 2010



Bob Chapman wrote on The International forecaster of the 29th Sept 2010 :"Unbeknownst to most gold and silver shares, coins and bullion have been under accumulation since 2000, by the smart money. Gold alone on a compound basis has been up just under 20% annually. It should also be noted that gold demand rose 36% in the second quarter.

Several events of recent vintage have changed the atmosphere in which gold and silver reside. Six or eight months ago the major NYC banks arranged for a major rally in the dollar, which ran from 74 to 89. It is now back to 79. The problems in Greece were the catalyst, as well as other EU-euro zone member problems. This caused the euro to fall from $1.50 to $1.19. It is now at $1.35. This temporarily boosted the dollar. About 11 weeks ago we predicted a new quantitative easing program in the US and it was put into operation about a month ago. This is the way the Federal Reserve again intends to keep the US economy from collapsing. The result of this move is that again foreign central banks are moving to cheapen their currencies, because the dollar is again falling in value. That is reflected in the increasing foreign exchange dollar reserves of many countries. What they do to cheapen their currencies in US dollar terms is to print their own national currency and purchase dollars. With those dollars they buy US Treasuries or spend them. That process cheapens their currency in dollar terms. This is called intervention...."

Jim Rogers - Silver is 85 % under it´s all time high - October 2010

Jim Rogers :"I just got to say that if I were to go to about precious metals, I would rather look at silver than gold. I own gold and I own silver, but silver is still 60% below its all time high. Gold is making all time highs. So it is usually better to buy low and sell high. I am not selling my gold. Gold will go over $2000 an ounce certainly in the next 5 to 10 years. But silver - on a percentage basis - will probably go up even more during that period of time. "

Foreclosure Fraud Hits Housing Market

Oct. 1—Dylan Ratigan Show--PIMCO's Bill Gross talks about whether banks are cutting corners to speed up foreclosures.

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