Carlos Santana
- Gold & Silver both, are very counterintuitive trades. It is very psychologically disturbing to work X number of hours to get $1600 together - hand it to the guy at the coin shop & he hands you a yellow hunk of metal not much bigger than a stick of gum. Sure, it has some heft - but $1600 - are you fckin kidding? That is peoples mindset, until their ability to reason overcomes that prejudice - they are going to miss the trade.
- $1600 Gold & $40 Silver is not high. Everyone thinks that way because their opinion is based off where these metals have traded in the past. We here at Mytwocent$ are more forward looking. Relative to where these metals are headed, $1600 Gold & $40 Silver is Low.
- Gold & Silver are the simplest & safest means of storing wealth (and your labor) that exists.
- Gold & Silver are antithetical to the way most people are raised. We are told from a young age to respect authority, have faith, and save (money) for a rainy day. Gold & Silver are the only way to profit from the fact all 3 of those ideas are absolute nonsense.
- Gold & silver are the gambling equivalent of betting the don't pass at the crap table. Its the smart bet, and yet people just don't do it. Pride do cost - to use the parlance of our time.
- The fact Gold has made a high every year for 11 years now means anyone who has bought gold in the last decade, chose to do so at or near an all time high. Psychologically, it is difficult to overcome the fear of purchasing something at or near an all time high. This fact has kept GOLD very underowned.
- The biggest complaint from the financial talking heads is Gold & Silver have no yield. While that is true, they also have NO counterparty risk; which is priceless considering the direction this country is currently headed.
- Gold & Silver will continue to head higher until our political leaders address the debt issue and/or the currency collapses. Since the debt issue is now off the table until after 2012 - that sounds like a 16 month green-light for higher GOLD prices.
- Speaking solely as a Gold-Bull - we here at Mytwocent$ will have to endorse Obama in that 2012 election. Gold was $740 (see Nov 08 on chart) when this nation elected Obama. Thats roughly a 120% return in 2.5 years. If he gets another term - we could do that 120% thing 2 more times!! That would put gold North of $8000 the ounce by the end of his 2nd term. HELL Yeah!! Lets do it!!
- Above ground in readily usable form, Silver is rarer than Gold. Doubtful 1 person in a thousand is aware of this fact.
- In the 1970's gold bull, price rose roughly 24x, it was a US only phenomenon. This current Gold bull market will be a planet wide mania. With much wider demand, we can expect Gold to rise a lot more than 24x this time around. The 01 bottom was about $250 - 24 times that is $6,000. Yours truly might begin profit taking there.
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