Gold and Silver Win By Default

by David Schectman
Miles Franklin

I sense we are very close to breaking out from the nine-month correction in gold and silver. The verdict will be in when gold tops $1630 and then $1650. Some analysts are waiting around for gold to cross over $1700 before they tell you to buy, but that’s waiting way too long, in my view.

The world is awash with debt – and with money too. Even more money needs to be “created” (QE) in order to service the debt. By its very nature, money does not like to just sit around; it needs to grow, to make a profit. Whether the money is controlled by a bank or fund manager with huge amounts to invest, or by a regular guy or gal like you with a little to invest, the challenge is the same. Where do I park my money? Where can it go and both be SAFE and earn at least enough to beat inflation? It used to be that if you had lots of extra money you would buy bonds and “clip coupons.” The first time I heard that saying was in the early 1970s. Susan and I were having lunch at the Lincoln Del in St. Louis Park and we were talking with a man sitting at the table next to us.

At some point in our conversation, I asked him, “What do you do for a living?”

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