James Turk Director of the GoldMoney Foundation : ...well let's step back and look at the long term point of view I am sticking to my long term forecast that sometime between 2013 and 2015 Gold will be about $8000 and ounce and Silver will be about $400 an ounce , the ratio between the two metals will be 20 ounces of silver to buy one ounce of gold , I made this forecast back in October 2003 , obviously when the price of gold and silver was much much lower , the point I am making is that we are in a financial bust and during a financial bust like the one we have been in for several years and still few more years to go people move out of financial assets and move into tangible assets because they are looking for a safe heaven , they want to avoid counter party risk and the safest of all heavens are the precious metals because they are tangible assets with no counter party risk , so for the longer point of view we are still heading into a much much higher , you mentioned the way I approach the market which is to continue accumulating , do not view gold as an investment it really is not an investment because it does not generate cash flow it's really money and when you accumulate gold you are actually saving money and saving money is a good thing , at some point in time in the future we are gonna take these savings and either invest them or we gonna spend them or just continue to hold them , at some point in time in the future gold will be at the maximum and you want to take advantage of everything that you are saving now through the these difficult economic and financial times , in regard to the short term , I am looking for a a pop up in gold price this summer and it relates back to what happen in the summer of 1982 when the Mexican government defaulted on its debt and it sent gold up 50 percent in three months and a double in six months , the circumstance today is very similar , the government ready to default though is not Mexico , it's Greece Portugal Ireland may be even Italy who knows , any number of countries that will be defaulting on their debt and when that happens I think that could really light a fire out of the Gold price so ...be prepared for an upside jump in the gold price this summer ...."
perhaps by selling your scrap gold through an reputable precious metals exchange among other methods.
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Monday, May 30, 2011
Bob Chapman - The Sovereign Economist 25 May 2011
Bob Chapman : ..it looks like silver is reassuming its leading position it is moving up slowly , the CME owns the COMEX there is really no over hang on the way despite the CME margin increases ....it is a rigged market a crime Incorporated
Gold and Silver Rally Trade
Scott Redler, chief strategic officer for T3Live.com, says to trade gold and silver Friday and wait to go long.:'we're not exactly sure if and this bounce is gonna take just -- new highs or was this just healthy balance of -- for the short term. This is probably a spot to lighten up a little bit. It's I -- well you would be -- a week and next. Well you know market -- and I forget about when Rangers are tight before remove and how cold does have a four -- move. So if you look at them -- gold it might be hired among -- from now but I think you can get a better entry than chasing it on the fourth update. Typically silver -- just had a nice to reading move from what 35 to 37 -- so. I know it's not where was a 4049. And trying to get the forty to 41 yes but I just elect a better entry in today I believe is not the data and there silver Oracle (ORCL) but they stay here for awhile next week and prove that is demanding commitment to this balance. Then we'll get another entry and that could prove to be the entry for a move back to those how much -- as well. I don't think we get the multiple they're out of it to see you absorb this multiple -- and decide gold go from what 1470. -- around 1530."
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