-- Posted Friday, 9 April 2004 | Digg This Article
Read the following text from an article in USA Today about gold.
“Gold Funds Live up to violate reputation”
“Gold prices have gone up as the dollar has gone down,” he says. “But we may have a situation where gold may go up when the dollar goes up or stays flat.” Caesar Bryan, portfolio manager of the Gabelli Gold fund, Christine Dugas, USA Today, 4-5-2004
What the text above is saying is that it is believed by many that gold is de-linking from the dollar. In other words the gold price may soon be independent of the US dollar.
Why is this important?
This fact would present testimony that gold is getting stronger & capable of moving higher even though the US Government may become successful in stabilizing the dollar.
As I have said over & over gold will continue to consolidate its strength through the end of this year, 2004. And for those poor souls who are impatient to find their riches read the following text.
“Writes Trump: “Subtlety & modesty are appropriate for nuns & therapists.” Kerry Hannon, USA Today, 4-5-2004
The above text is written by Donald Trump & taken from his book, “How to get Rich.” Sure, there is a time for subtlety & modesty, but not when pursuing your investment goals.
We continue to hear the issue of outsourcing & how it is good for our economy & US workers. I know you probably tire of reading about this topic but this subject will have relevance to you some day when you awaken to find your job & your children’s job has moved overseas.
For the simple minded these are not changes in our society where by jobs are being lost merely to innovation & new technology.
Our country was founded on the premise that the working man was worthy of his wages. That concept is being challenged today as corporate America seeks to transfer all operations over seas merely for the sake of cheaper labor & a class of laborer that they can immorally exploit.
These job transfers shipped overseas do not even benefit fully these foreign workers themselves because their pay is so low that they cannot even afford to purchase the products that they manufacture.
Sure, the goal is to reduce expenses but the wise industrialist also realizes that as well as creating a cheaper product he also needs to be creating new markets for that product. But as all our best jobs go overseas the market for these cheaper products will eventually shrink.
And that is the truth & stupidity of the whole idea of outsourcing for the cheapest labor cost.
What ultimate value is there when the folks making a product cannot even afford to purchase that product themselves?
Henry Ford understood this.
Now read the following text below to understand more fully the damage that this outsourcing is causing to our nation.
“A finance professor argues against placing blind faith in outsourcing.” Rory L. Terry, Money.cnn.com, 3-12-2004
“NEW YORK (CNN) -- A great deal of effort is being expended to convince us all that the outsourcing of jobs under the rubric of free trade is a good thing.”
“Our labor force is not better trained, harder working, or more innovative than our foreign competitors. The argument that we will create new jobs in highly paying fields simply is not true. We have no comparative advantage or superiority in innovation. To assume that we are inherently more creative than our foreign competitors is both arrogant and naive.”
Let’s stop here & look again at that very last sentence we just read. Editor
“To assume that we are inherently more creative than our foreign competitors is both arrogant and naive.”
What this text illustrates is our total lack of a plan or a strategy to replace these jobs that are exiting our shores. There is a blind & foolish arrogance that because the US is inherently superior that we will ultimately win out over our trade competitors. And again I remind readers that the very jobs that laborers were told to train for these past 10 years are the very jobs that are now slipping permanently overseas. Editor
Let’s get back & hear what else the good professor has to say.
“We are currently empowering our competition with the resources to innovate equally as well as we. Consider the number of new non-native Ph.D.s that leave our universities each year; consider our low rank in the education of mathematics and the sciences; and consider the large number of international students enrolled in our most difficult technical degree programs at our most prestigious universities.”
“Most of our best, high-paying jobs can be exported.”
1. doctors (even surgeons)
2. mathematicians
3. accountants
4. financial analysts
5. engineers
6. computer programmers
7. architects
8. physicists
9. chemists
10. biologists
11. researchers of all types
Now read the conclusion to what becomes the final true results of these US jobs heading overseas. Editor
“And as a nation, we lose our ability to make independent decisions that are in our best interest when we are dependent on foreign debt and foreign manufacturing.”
I have received a lot of emails from readers asking about how my mother is doing who is dying of pancreatic cancer. Up & down, good days & bad days, but steadily down hill.
Thank you again for all your prayers out there.
The additional stress of traveling back & forth to Atlanta from Greenville & managing affairs has put my little body also to the test. After developing chest pains last Saturday night my wife & I made a wild dash to the local regional hospital where I now temporarily reside & am presently actually writing this article from the side of my hospital bed in the intensive care & heart unit at Greenville Memorial Hospital.
I love writing about the markets & gold & I refuse to let a little thing like a stroke or a heart attack stop me from writing.
There are just too many good opportunities out there in the market today, & especially in the resource sector, to spend our time lying down whether the excuse is simple heart failure or just plain ole’ laziness.
And with a little hard work & diligence we will seek these opportunities out.
We talk a lot about the growing wealth & manufacturing prowess of China but just what does that mean? I am all the time receiving email solicitations from various manufacturing companies in China & I am sure these are sent out in bulk to millions.
Let’s look at one of these emailed ads I received just last Friday.
The English is bad, but this just proves to me the confidence that the language problem is no barrier because the Chinese KNOW that the rest of the world NEEDS their factories & very experienced skilled labor (notice I did not refer to their labor as “cheap”?).
The following is an ad for a Chinese company that produces a variety of different stuff from transmissions to sewing machines.
Dear david4054:
ShangHai Ownway Electric CO. LTD. Yueqing lede cardan shaft industry co. , is produces and sellTransmission machine, Hardware & Tools, commodity, Industrial equipment.
Transmission machine: Universal Joints, Curved-tooth Joints, Elasticity Joint. Sewing equipment: Sewing Machine, Shoe-making Machine, Cutting Machine, Steam Iron Equipment.
ADD: No:55 Jinshi Road,Nanan Yueqing Zhejing China
TEL:0086-577-82233185 FAX:0086-577-62311185
http://www.laste.com http://www.yan-xing.com
Sewing equipment Department
TEL: 0086-135-88964389
E-mail: sewing@laste.com
Transmission machine Department
TEL:0086-133-53378075
E-mail: joint@laste.com, joint@yan-xing.com
if you are interested, please contact us.
Yours faithfully
I am reminded of the fact that the South lost the war to the North because the North was a land of factories & experienced manufacturers. And the Allies won in World War II because their factories were superior to the Axis.
I suppose our point in bringing this up is just to demonstrate what a tremendous financial powerhouse Asia & China are becoming today.
Asia & China are the new powerful financial order today & I am sure creating somewhat of a problem with the existing powers that be in the Western World.
And the day that China ceases to take orders from the West will be very interesting. Especially since China pays & maintains the huge debt structure that keeps the US propped up including the West’s high standard of living.
Well, I am home now & departed from the hospital.
Just a couple of ole’ stints added to a couple of veins to keep me going. As I said previously it would take something more than a little ole’ heart failure to keep me from carrying on & writing. And there are a lot of folks out there who hate my commentary & love to critique it & for those folks I just cannot let them down.
Before we leave lets talk about one more soul who “triumphed” above the odds & succeeded beyond calculation.
“He's on the cutting edge of a revolution in our business and everyone in our business knows it.” National Press Club, 1998
Matt Drudge: “I used to walk these streets as an aimless teen, young adult, walk by ABC News over on DeSales, daydream; stare up at the Washington Post newsroom over on 15th Street, look up longingly, knowing I'd never get in—didn't go to the right schools, never enjoyed any school, as a matter of fact, didn't come from a well-known family—nor was I even remotely connected to a powerful publishing dynasty.”
Well, those were Matt Drudge’s words 6 years ago & now to my understanding he is making 1,000,000 dollars a year.
Let me tell you right here my friend you can succeed if you put your heart to it & believe. We believe in you here on the other side of your computer & if we did not believe in you we would not waste our time writing these articles.
And let’s get back to the title of this article, “Gold Will Triumph.” And not only will gold ultimately triumph, but YOU, also, will triumph & succeed if you only put your heart to it.
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Our reward is in knowing that we are directing our subscribers to an information source that will help investors to maximize their profits.
And this service & information is provided to our subscribers for FREE!
Let me share a moment why information is so extremely important. Please read the following quote.
“The problem often is not too little information but too much information…” Barbara Kanatrowitz, Newsweek, 4-5-2004
If you want to maximize your profit potential when investing then you need to take advantage of the expertise of other professionals who have made the analysis of the financial markets their life time pursuit.
I have no respect for the ignorant soul who refuses to pursue his or her own diligence but, instead, runs blindly to take advantage of a cheap 5 dollar a trade Internet discount brokerage account.
Those who have made financial success a routine habit are those who invest the time in pursuing information & madly pursue all the learning they can get. And I can guarantee you that these financially successful investors do not seek out the cheapest trade they can find over the Internet.
There is an old saying that it takes money to make money & this is most especially true when it comes to the realm of learning & education. Again, nothing worthwhile is ever truly, totally free but will always cost something.
You want something for free?
Then go to the soup & bread line at the local rescue mission down town.
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Comments.
David N. Vaughn
Gold Letter, Inc.
David4054@charter.net
Gold Letter Website
April 9, 2004
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-- Posted Friday, 9 April 2004 | Digg This Article
