November 13, 2009
– Comments (6) |
RELATED TICKERS: FED
GOLD $5000+ 11/11/09
For those of you that haven't heard of Martin Armstrong, Former Chairman of Princeton Economics.
That means the dollar being worth roughly a fifth of what it is now, or oil at about $350 a bbl.
Possible, but seems unlikely in the next couple of years.
Hope for the best, prepare for the worst...
+1 Rec for the tickers.
If I scribbled $500- on a poorly photocopied stream of consciousness essay would you listen to me?
I doubt you have the credential of Armstrong so no
I hear that the rich dad, poor dad author said that gold may just reach $15 K per oz.
I have more than doubled my RL, Rolled-over 401K portfolio's worth over the last year, by using mostly gold and silver stocks. (I bought in to them during the market meltdown last fall, after they closed the factory I worked in down.) I fully believe that all the PM's have a big future price runup ahead.
I managed to get some really good companies at bargain basement prices. Here's a couple of examples:
NXG for $0.60 per share
SLW for about $3.50 per share (Less really, because of their purchase of Silverstone. Another company in the portfolio.)
PAL for $0.95 per share
Also I hear talk in the mining community that peak gold and silver production might have occured in the year 2001 or so. If true, the price will see a huge increase as both the inflation and lack of production poke up their heads.
This price estimate of $5K per troy oz is one very possible outcome of Pres. BO's cranking up of the printing presses since Jan.