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I'm playing the gold rush in multiple ways. 1) Owning physical gold (and silver). 2) Buying shares of gold and silver mining stocks. 3) Buying the mining sto
by noelchurchill 16y ago
I'm playing the gold rush in multiple ways.
1) Owning physical gold (and silver).
2) Buying shares of gold and silver mining stocks.
3) Buying the mining stocks on the Toronto exchange, in Canadian dollars, so as the USD continues it's decent my investment also appreciates through the better exchange rate.
Thoughts?
- rakkhi 16y agoDo you have a good story on why you believe that gold will keep going up for while? I can think of one maybe the US currency will continue to decline and the world will change to a basket of currencies backed by gold... Personally I am going long on a gold company just to benefit in the laging effect of high gold prices on the earnings of these companies... other than that I have no real story on why gold keeps going up and more importantly when/if it will peak and take a major fall Is owning physical gold and silver because you think the US will colapse like the roman empire and you want some quick currency to escape?... aka Peter Shiff ? (http://amzn.to/bTVMIj http://amzn.to/bTVMIj)
- noelchurchill 16y agoI think you're hitting on some of the key points. The Fed is continuing it's policy of monetary expansion. Most major central banks around the world are doing the same. US treasury debt is in a massive bubble. The Fed is propping it up daily. Money won't find safe haven in any fiat currency and have nowhere to go but gold to preserve wealth. Good ol' Greenspan said as much in a recent announcement he made. He advises central planners to stock up on gold.