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XMFSinchiruna (27.60)

Great Video, former GG CEO Rob McEwen lays out argument for $5,000 Gold!!!

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January 16, 2008 – Comments (7)

For those of you invested in precious metals already, this video may help to make you feel less pain over the seemingly premature down-ticks over the past few days.  For those of you not yet into Precious metals heavily, well then let this serve as your final call... this is likely to be the last time we see gold under $900 for many years to come!!!

http://broadband.bnn.ca/bnn/?vid=26028

7 Comments – Post Your Own

#1) On January 16, 2008 at 6:31 PM, QualityPicks (27.16) wrote:

I wonder if he is biased? :) Anyway, doesnt matter, Realtors were able to pull off a similar feat. They told us were were running out of land, that home prices never go down, etc. We bought it and inflated prices like never before. Same thing can happen with Gold. I mean, aren't we running out of Gold just like we are running out of land? Eventually Gold may command absurd prices on fears like that, just like homes did at the top.

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#2) On January 16, 2008 at 6:51 PM, MRTShorts (99.37) wrote:

gold always holds it's value! get in now before it is too late!

 this is just like real estate and realtors. don't expect me to feel bad when gold goes back to $200

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#3) On January 16, 2008 at 6:54 PM, XMFSinchiruna (27.60) wrote:

Difference is, home valuations were inflated without any supportive fundamental drivers, while gold is driven by the collapsing US Dollar, the global credit crisis, off-the-charts real inflation rates, etc, etc.  Sure, Rob McEwewn stands to gain by touting gold, and sure, panic and speculation will ultimately be part of gold's story, but with or without analysts or insiders touting gold, it will run its course to $2,000 and beyond.

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#4) On January 16, 2008 at 7:15 PM, saschlos (< 20) wrote:

I work in the gold mining industry in Nevada.  He is right, gold will only keep rising, as the US economy falls.  My husband and I are banking on it.  We have a mining claim company that is booming right now, because everyone wants a piece of the action, and everyone has lots of money to spend.  With any luck, we will be able to retire off of this boom in the next five years, and I am only 31!!!  Go Gold!!!!

On the other hand, Rob McEwan is a master at buying a company that is failing and making the investors very wealthy, so this could just be a ploy to get people to invest in US Gold.

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#5) On January 16, 2008 at 7:33 PM, XMFSinchiruna (27.60) wrote:

Time will tell, you guys.  I'll tell you what, I'll check back on this post at the end of this year.  If gold is below $1,000, then I'll eat some serious crow publicly on this site.  And it it's above $1000 and neither of you bought any gold, well then anything we wager would not be as painful as the knowledge that you could have preserved your assets if you had only listened to me.  :)  I'm being tongue and cheek about this, but please understand, I'm not posting on this site for my health, it's out of a dire concern for the economic welfare of my fellow citizens.  Check out my New Year's wish post from December.

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#6) On January 17, 2008 at 11:19 AM, Jro81 (< 20) wrote:

I have a feeling that $5000 isn't crazy ... If you were to go on CNBC they may laugh at you ....aka Larry Krudlow laughing at Don Coxe re his fool inflation take .... idiot ... I think we will reach $1000 by year end .... Rob McEwan is out of Goldcorp he has nothing to gain to talk out of both sides of his mouth.

Jared

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#7) On January 17, 2008 at 4:32 PM, MRTShorts (99.37) wrote:

$1000 vs. $5000 gold. i dont doubt there could be a 10% increase in gold but 5k? cmon.

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