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Stock Ideas Investors Daily Edge Do You Have a Seat on the Lifeboat?
Stock Ideas Investors Daily Edge Do You Have a Seat on the Lifeboat? 
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By Andrew Gordon The West doesn’t have a monopoly on bull markets, political stability, and disciplined fiscal policies. A country in Africa has been enjoying all three for the past few years. It’s the undisputed economic powerhouse of Africa – the country of South Africa. |
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| Do You Have a Seat on the Lifeboat? |
| Thursday, 09 October 2008 | ||||||||
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You wouldn't drive a race car at top speed without a seatbelt. You wouldn't swim in chum filled waters without a shark cage. And you certainly wouldn't leave your life savings in cash inside a wooden home surrounded by a forest fire. But you are being just as reckless with your wealth if you do not currently own tangible, physical gold and silver. I am not talking about gold and silver stocks. I am not talking about precious metals mutual funds. And I'm not talking about the ETFs that buy gold and silver on your behalf and hold it in a vault who knows where. I am talking about gold you can hold. Gold you can bite down on. Gold you can bury in the yard if you want to. Strange things are happening in the monetary metals markets. In the midst of the greatest financial crisis in more than a generation, the cost of "financial crisis insurance" went on sale. From a high of more than $1,030 in March, gold fell 28% before finding a bottom around $750. Silver crashed even harder, falling more than 50% from its highs. And this happened as the foundation under the paper money system has been revealed to be nothing more than sand. Doesn't make much sense, does it? Now consider that at the same time, the demand for these metals in physical form has soared. Bullion and coin dealers around the world have faced far greater demand than they can supply. Shortages of the physical metals are widespread. The U.S. Mint has even halted sales of certain coins, stating that they cannot meet the the supply. I don't have the space to go into the case for the manipulation of the "paper markets" for gold and silver. But we are already seeing buyers willing to pay a significant premium over the spot price, just to get their hands on the real thing. I expect this spread will widen in the months and years ahead. I also expect certain "paper" investments in gold and silver to default... because the metals are just not available. The "ship" is sinking folks. Don't wait until the masses rush for the lifeboats, before you try to secure your seat. By then it will be too late. Take a portion of your wealth to the ultimate safety of an asset with no counterparty risk. Do it TODAY!
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