mojo's Account Talk

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mojo said:
I will continue to buy more gold and silver on the dips. I can see it at some point dropping into the 700s for a very short period. Will see $1500 this year. Silver is looking very good too imo.
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My SLV holdings buy average is at 13.11. My physical silver holdngs are at 12.52. I plan on holding both for awhile. I would not be surprised by 35.00 an ounce silver in the next 2 years. I don't know if gold will get to $1500 this year but I think it is a very viable price in 2010. JMO. Europe is diluting their currency like the dollar so I don't think will will get serious inflation until 2010, but I do believe it is coming and gold/silver will take off at that point. Again JMO.
 
justbizness45 said:
My SLV holdings buy average is at 13.11. My physical silver holdngs are at 12.52. I plan on holding both for awhile. I would not be surprised by 35.00 an ounce silver in the next 2 years. I don't know if gold will get to $1500 this year but I think it is a very viable price in 2010. JMO. Europe is diluting their currency like the dollar so I don't think will will get serious inflation until 2010, but I do believe it is coming and gold/silver will take off at that point. Again JMO.
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Hi justbizness45,
I'm not really buying to make a profit. More to preserve my buying power in a bad situation which is what I believe is on the way. Could be 2 years until we see gold at $1500 and silver at $35. It doesn't really make much difference to me, it will only be an indicator that things are getting worse.
If it takes longer or doesn't happen at all, all the better. I 'd rather have my gold and silver worth less and see our country recover and become more fiscally sound. Do I think that will happen? No.

Look at how well gold has done over the past 5 years even before the recession started.



au00-pres.gif


If we weren't in the shape we are I'd say it looked like a gold bubble but considering our present monetary policy and direction I think it looks like it could be cheap right now:)



ag00-pres.gif

Silver looks like an even better buy right now:)
 
IMF poised to print billions of dollars in 'global quantitative easing'

The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency" in an unprecedented new effort to address the economic crisis.

Simon Johnson, former chief economist at the IMF, said: "The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them.
"The objective is to create a windfall of cash. However if everybody goes out and spends the money it could be very inflationary."

http://www.telegraph.co.uk/finance/...of-dollars-in-global-quantitative-easing.html
 
I think it's late to start chasing this rally but with the way it's going today tomorrow looks like another up day.
 
Pardon me, but I'll gladly take what you don't want. Can you promise a good up day tomorrow. Only ten more trading days to sit on the ice block.
 
I fear the 1,000 point pop to scare the day lights out of all the new short sellers. We'll have to call Harvey Keitel to clean up the mess. Only 922 SPX points to go to restore my credibility. What can you buy with $10 trillion dollars.
 
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