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Letter 1616

Richard’s Wisdom - “When to Sell Gold”

 

Richard’s Comments

 

Consider this -- all your US stocks, all your US bonds, all your US financials are denominated in fiat dollars, or more accurately - Federal Reserve Notes. Nothing stands behind these notes except the words, "In God We Trust." Without meaning to be blasphemous, I submit that the preferred alternative to this would be -- "In gold we trust."

  

As I've said many times before, I believe the gold market is just beginning to "warm up." Ultimately, the bull market in gold will end the way all major bull markets end, and that's with a panic to the upside. When could that occur? My guess, and it's simply a guess -- within five years. In the meantime, in terms of the amount of paper money now sloshing around the world, gold is dirt cheap. In terms of the number of dollars in the world, my position ... Log in or subscribe to continue reading.


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