Late Notes -- Is this the beginning of the melt-up I’ve been talking about? It’s too early to tell. But if there was a time to speculate, this may be the time. Personally, I haven’t got the nerve to join in on the festivities. Boils down to a matter of – to each his own. I like the gold action. And this is where I put the bulk of my money.
By the way Sotheby’s just sold a pink 59-karat diamond for $83.1 million, a world’s record for any jewel. It’s a mad, mad world. Who can forget the Graff Pink that sold for $46 million by Sotheby’s in Geneva. Big money is putting millions into one-of-a-kind tangibles. Like Chinese gold-buying, it’s all an escape from the dollar. And it may well lead to hyperinflation, assuming the Fed continues on its course. I continue to believe that gold is constructing a huge ... Log in or subscribe to continue reading.
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