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- Congratulations! I have only told you only
about five hundred thousand times that no gold sale feels like a
sale.
- All
gold sales of substantial opportunity feel like the end of your personal
financial world, and this one has been no exception.
- Those
of you who faced the winds of correction, held your head high, and
bought, are today raising the flag of victory. Silver is up about 24% in
24 hours! Gold has soared to $1675, from the “ultimate on sale
for you” point of $1530.
- Raise
the gold flag, and celebrate your endurance. There was a song
written about drug pushers, called something like “Gol Dang The Pusher Man!”.
I say, “Gol Dang The Dollar Bugs!” should be your theme
song, here and now.
- I
told you repeatedly that one of the themes of 2011 is “gold
goes aggressive”. I don’t know what percentage of gold
analysts turned into top callers recently, and I don’t know what
percentage engaged in selling their gold in size, but let me tell you a
little bit about myself.
- I
don’t sell gold bullion in size to buy crap. Crap is a bag of US
dollars that pay anything less than 8% on a 30 year US T-bond, in my
world.
- Click
here now
for a closer look at the gold rally. The top callers are celebrating
their supposed victory vastly too soon, and they are doing it in dollars
that could literally go off the trading board later in this crisis. Do
you need ounces or dollars? If you need ounces, the time is here and the
time is now, to take action. Ounces, not dollars, are what will take you
to the other side of this crisis, intact.
- You
can spend the next 500 years telling me all about why gold must fall
down and I must avoid “the big correction”, if that really
turns your dollarbug crank. The bottom line is
that I don’t sell gold core positions for dollars unless the US
Treasury is prepared to step up to the plate and hand me a 30 year
T-bond that pays me 8% a year. That’s when I start buying bonds
with core position gold, and not when I finish buying them.
- The
idea of selling my gold in size for pure cash that pays no interest
because “gold might fall down” is totally
nonsensical.
- I’ve
told you all to carry high cash levels because this is an all-epic
crisis. That’s all there is to say about cash. I’m at about
30% cash personally, and roughly 22% for the monies I professionally
manage. I don’t like to go under 20% cash, but to tell me to sell
my core gold for cash because “it might fall down” is not
going to do anything other than get me in a rage.
- I
don’t think you understand how personal the dollarbugs
made this fight. Do you understand what has happened to your
constitution? They destroyed it. It can’t be fixed. There has to
be a new one that doesn’t allow amendments. If you think a dollarbug in this crisis has any chance of
convincing me to sell 1 gram of my core position gold or silver for
their dollarbug crap, you are living on
Mars.
- Most
of you met me as the market collapsed in October of 2008, and you were
staggered to see me buying both gold stock and the Dow right into the
lows, hard and heavy. That was agonizing, but the profits that came
“out of the hole” were mindboggling. Alcoa and GE were up
300% in just months, while team shorty pants was
obliterated, as I told you would happen.
- I
told you to remove cash from the banking system while buying the Dow and
gold stock into the lows of 2008, because they system was either going
to be shut down or there would be an upside astroblast
in the markets. The bottom line is that you needed to insure yourself
professionally, while taking massive market buy action. Few listened.
Few got richer. I did.
- I
don’t sell weakness in gold because it might fall further. I buy
gold in my discomfort zone, and in your pain zone; that’s what I
do, and that’s who I am.
- Gold’s
little brother, silver, put on a showcase performance over the past 24
hours, rising an average about 1% an hour! Click here now
to view one of the history’s greatest assets in action, taking it
to the dollar bugs.
- The
“great error” that exists in the gold community is confusing
what gold and silver are, as assets, with where price is going, in
dollars. I’m a buyer of silver every 50 cents down, all the way to
zero.
- Be
a player, not a plopper. If you buy too large
at any one price point, the mental wear and tear on you if price falls
below your entry point can be more destructive than most investors want
to think about, when they first enter the “plop zone”.
Moderation in all things, including the amount of risk capital you bring
to play at any single entry point, is how to live a balanced financial
life.
- This
morning, do I wish I’d bought more silver into the lows $26, now
that it is pushing at $33? Perhaps, but I wonder what those who bought
none are thinking this morning? I’m a player at all points on the
silver price grid. Are you? What if we go to $20? Who will be a player
there, will it be those who borrowed money against their houses to buy
silver at $45 because it was “getting away”? I don’t
want to think about what is going through their heads now.
- Silver
is going to be around long after you are dead, and so is gold. You
should be a lot more concerned with your own mortality than with “how
low silver or gold can go”, while you buy nothing and I buy
like a machine, in moderate size, with no missed buys.
- Life
is too short to pretend that the banksters are
only short gold and silver. They invented the financial system, so by
definition they must know that dollars are crap and only gold is money.
They control the system with gold, and all the latest crew of top
callers succeeded in doing was getting huge number of fund managers (and
retail players in the gold community) to hand the banksters
their gold items at firesale prices, in a
loss-booking frenzy.
- What
a horror. He who has the gold makes the rules. The banksters
now have more gold. Expect more rules to follow, rules designed to
enrich them, and impoverish you.
- Click
here now
for a look at the Dow. There’s an addiction to “getting
the Dow” in the gold community that needs to be faced. Maybe
some sort of financial rehab centre is needed,
and a benefactor could step forward and make it happen.
- I
don’t see the gain in shorting or buying the Dow at this point in
the crisis. Risk capital employed to make dollars rather than increase
ounces of gold is a questionable proposition, and shorting the Dow
is nothing more than a bet on the dollar.
- I’m
not interested in buying the Dow any more than I am in shorting it. Gold
stocks remain the single best place to insert risk capital, here and
now. Nothing has changed since gold rose above $1400 for a period of
time, and got the attention of institutional money managers. The
current sell-off is seen by value players as a major opportunity to take
action. Look at the T-bond. Do you see it paying you 8% a year, for 30
years? No. So, let’s stand back from the drama stage, and get back
to work, building your horde of gold, silver, and precious metals stock,
that is now offered to you on substantial sale!
Stewart Thomson
Graceland Updates
Email: stewart@gracelandupdates.com
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