For any of you with any serious financial (dollar based) holdings, I'd recommend going very defensive right about...
Now.
April 17, 2006
It's here. Duck and cover.
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19 comments:
Tomorrow, tomorrow, the sun will come out tomorrow....
Is a CD safe enough?
Short-term CD's are safe. If you buy a long-term CD and inflation spirals out of control then you lose.
Gold and silver are good hedges as is oil.
Buy the gold ETF (GLD or IAU) or the oil ETF (USO) or the silver ETF that is due out soon.
That's if you believe inflation will spiral out of control or war breaks out with Iran
Go long ducktape and plastic sheeting!
No! don't buy that Wall Street sham ETF "GLD". You're just buying futures contracts and other worthless paper. CEF is the one you want because its shares are backed by real metals stored in real vaults controled by the Canadian government.
Man, I had a great day on the miners today, CGR, TGB, and NTO. There is wholelotta people out there shifting into defensive plays, miners are very much in play.
We have been inflated by mr greenspan........
Your dollars are orth 50% less in three yeras.
I believe IAU is backed by gold futures contracts and GLD is actually backed by gold bullion. The new silver ETF is also supposed to be backed by real silver.
Lets see, the US market was down -.6% today and somehow I made +.6% on my holdings. How. Diversification baby. I'm weighted 60% international which is looking to be up another 1 percent to 1.5 percent tonight as best as I can tell by viewing Yahoo world indicies. Plus when the dollar falls, international funds become worth even more.
Don't fall prey to the duck and cover crowd and hide your money under your mattress (or in a CD or gold). World diversification will provide you with good long term results much better than gold or CDs. Heck I'm up 8.2% YTD....and that's about 2 to 3 times the Nasdaq and Dow.
If you really "believe GLD is actually backed by gold bullion", you'd better read the fine print one more time. These Wall Street creatures are shams, paper promises to lure your money into their account. In reality the rules allow them to back your shares with futures contracts if they don't have the metal available when you place an order. What total B.S. because in an "emergency" the metal exchanges can elect to settle with the ETF by writing them a check in lieu of actual delivery! Paper chasing paper and guess who gets screwed?
Canada's CEF is the real deal. Shares are backed by physical metal stored in vaults.
is CEF FDIC insured? Feels like you could lose your whole investment there if they run in the middle of the night - with their gold
I agree though that GLD is also suspect
Aside from taking delivery of physical bars though, what to do?
On the diversication point - AMEN BROTHER!
For investing in real gold or silver, use trusted companies that buy and secure real gold for you, e.g. GoldMoney (www.goldmoney.com).
Be warned about silver, that is really going exponential now and that might be the alarm sign for a pump&dump.
Stay away from all Canuck investment schemes. There's a lit of dodgy stuff going on up there. Remember Nortel?
Also, if the global housing bubble thesis is correct, you don't want to be in stocks. At a minimum, pare your stock holdings down and keep some money in cash money markets or CDs, so you'll have buying power later.
It's about the purchasing power of the dollar. If you get dollars back when you redeem your shares then you are invested in dollars. Gold has a history of over 2000 years as a means to store wealth. It is money and it has always been this way. This time it's different is just nonsense. Your dollars are backed by, hum, nothing. Many smart people have forcasted a weaker dollar long term. (Like Warren Buffet) Gold is not rising into a bubble market, your dollars are loosing value and thus it takes more of them to buy the same amount of gold. A little goes a long way in a portfolio. I reccomend Monex
TOM
I have a high yielding ingdirect money market account. Also am hedged by trading on the Forex.
David
http://bubblemeter.blogspot.com
There really is a shortage of silver, just like Palladium and Titanium. Check out TIE. Silver prices have been artificially depressed the past few decades after the Hunt brothers scheme. They have been using more silver than they have been able to mine the past 10 years.
silver and gold, silver and gold... oh, and oil!!!! go conocophillips!!!!
market rallying on inflation data. little do they understand what is to come
Great blog.
Regards,
A Stock Trader
stock trading
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