I have been a critic of gold and silver for several years but they proved me wrong for the last year. Yes I recommended selling gold and silver at much lower levels than they obtain this year, but was I wrong?

 To me gold and silver are nothing but commercial metals but others still see them as hedges against bad times. I have often ask if I owned a pig and you owned a gold brick would I trade with you during a depression? I don't think that I would trade because I couldn't eat the gold brick.

 This run up in prices has been created by unscrupulous people scaring the population that they were going to lose everything and gold and silver would save them. Have you noticed how many of the gold commercials are no longer running on television, that is because those that bought in at the highs have lost about ½ of their money and I believe this down turn has further to go.

 There is no justification for gold prices reaching $2500 or silver topping out at $50 but the scam artist have made there money, now time will tell how the people that bought all this gold will fair. I don't believe they will fair very well. To me if a person starts to look at stocks it may prove to be very profitable here because the dollar is rallying and in my opinion stocks are under valued.

 There is however still a way to make money with gold and silver and it is with coins. I will explain this tomorrow. I am glad to be back but during my trip there might not be a blog everyday because of not having access to the Internet. After the first of the year we will get back on track but I need our members to give me direction on what they would like me to cover.

Last Updated (Thursday, 15 December 2011 15:19)



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