-- Posted Wednesday, 7 November 2007 | Digg This Article | Source: GoldSeek.com
Dear Chairman Bernanke,
I, and all the rest of the Gold Bugs, would like to thank you for your continuing effort to bail out the banks. Your easing of U.S. interest rates has greatly benefited the value of our Gold holdings. At the same time, the purchasing power of paper dollars held by gullible consumers around the world is being decimated. Something with which those consumers will have to learn to live. If they had bought Gold instead of a house, they could afford $100 oil. Keep up the good work! However, we did have a question. Would not simply mailing checks to the banks be more efficient?
Thanks, A Gold Bug
As this week's chart portrays, Gold has provided a far higher return than U.S. paper equities. Am really starting to feel some sorrow for those that have been duped by Street and business media into keeping their wealth mired in paper equities. Imagine how much purchasing power has been lost by wealth and retirement funds of Americans by failure of equities to perform and Federal Reserve's devaluation of dollar, and devaluation it is. With the Federal Reserve intentionally devaluing the U.S. dollar, long-term prospect for Gold continues bright. $1,400+ Gold is no longer a wacky forecast, and may prove to be conservative. However, $97 oil, DJIA up 120, Gold up $17, S&P up 18 do suggest money chasing markets rather than any rational investment process. Arefunds and traders pushing Gold to an unsustainable level in the short-term? Holding your Gold, counting your profits, and waiting for a better time to buy are all recommended activities.
GOLD THOUGHTS are from Ned W. Schmidt,CFA,CEBS, publisher of The Value View Gold Report, monthly, and Trading Thoughts, weekly.
For a subscription go to http://home.att.net/~nwschmidt/Order_Gold_EMonthlyTT.html
-- Posted Wednesday, 7 November 2007 | Digg This Article | Source: GoldSeek.com
Ned W. Schmidt, CFA CEBS is publisher of THE VALUE VIEW GOLD REPORT - Coverage of the emerging GOLD SUPER CYCLE. Explores the situation in Gold that may carry it to $1,225. To subscribe Click Here. A trial period is available by Clicking Here
Ned W. Schmidt, CFA CEBS is a nationally recognized authority and speaker on a variety of investment topics, including value investing and global capital flows. Currently, Ned is Resident of Schmidt Management Company in DeLand, Florida, specializing in financial engineering. The firm’s proprietary research influences about $15 billion in assets, and is investment advisor to the Argyle Global Equity Appreciation Fund.
Most recently Ned served as the Visiting George Professor of Applied at Stetson University where he taught institutional money management. Preciously he had been a Senior Vice president with a trust company where he had the responsibility for discretionary investments of $3.5 billion.
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