Dear Jim:
Why you should be confident about your gold holdings. I doubt you will see this chart in the mainstream media any time soon, if EVER.
CIGA Ed P.
Buffett Says Buy Businesses Over Long-Term Bonds as Dollar Value to Erode
CIGA Eric
This also includes gold, but don’t look for this suggestion to get a lot of headline space from notable names.
Warren Buffett, the billionaire who urged Congress in 2009 to guard against inflation, said investors should avoid long-term fixed-income bets in U.S. dollars because the currency’s purchasing power will decline. “I would recommend against buying long-term fixed-dollar investments,” Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A), said today in New Delhi. “If you ask me if the U.S. dollar is going to hold its purchasing power fully at the level of 2011, 5 years, 10 years or 20 years from now, I would tell you it will not.”
Source: bloomberg.com
Jim,
It’s a shame our Founder’s wisdom is lost on our current leaders while China can see it clearly…
CIGA Dan
‘China’s Central Bank Recommends Gold For “Value Preservation”
Mar. 26 2011 – 11:48 am
By ROBERT LENZNER
Believe it or not Ripley! The People’s Bank of China(PBOC) recommended yesterday that 1 billion Chinese consider buying gold as a hedge against inflation and to preserve values in a world where currencies can fall. The PBOC Financial Markets Review came out just as several major currencies were indeed declining in value against gold; the dollar,1%, the Swiss franc,2.5%, t he British pound, 2%, and the Japanese yen, 2%.
Wow! Be like the Fed telling you to buy oil stocks or crude oil futures due to expectation higher gasoline prices this summer.
So, add the PBOC to other secular influences on the price of gold; namely the conflict in Libya, the European sovereign debt crunch, the developing nuclear disaster in Japan and the extraordinary political unrest in Syria, Yemen, soon traveling to other Middle Eastern capitols. All unexpected by financial market analysts.
And whoever could conceive in their wildest fantasies that 12 states of the union- including New Hampshire, Vermont, Colorado, Indiana, South Carolina and Washington would propose to allow their citizens to use gold and silver coins as legal tender. Gold and silver coins to pay your rent, grocery bills and taxes.