Gold is approaching $1,800. In late December, you could have bought it for under $1,550.
A year ago, you could have bought it for $1,320.
Is it going lower? Legendary commodities investor Jim Rogers has this to say.
Throughout history when you have people printing money and debasing currency, the way to protect yourself and to make money is to own real assets. Silver, rice, natural gas, and those are not specific recommendations. I am just saying those are natural resources. You now have the Bank of Japan, the Bank of England, America, the Chinese apparently are loosening up. Everybody is now loosening the money supply, printing money. That’s good for real assets.
If the world economy gets better, the shortages of nearly all commodities are developing and I am going to make money in the commodities. If the world economy does not get better, they are going to print a lot more money. The place to be is in real assets, including base metals. I do not own as many base metals as I own precious metals, but I own them all.
If somebody starts bombing Iran, everything in the world is probably going to go down for a while except maybe gold. Maybe the US dollar would go up initially, but probably everything would be hit in the shock except maybe gold. So I own gold. I am not selling my gold. I bought some gold on Monday a little bit. Not very much, but if gold goes down a lot, I would buy. I hope I am smart enough to buy a lot more gold. Gold is going to go much higher over the course of this decade. Do not sell your gold, not yet.
It looks as though something is going to happen. It is not going to be good for any of us if and when it happens. I am not investing as it was going to happen other than the fact that I do own oil and I own commodities, but I hope it does not happen, but it looks like it will.
The first decade of the 21st century confirmed his view. The second decade is continuing to confirm it.
Most Americans still don’t believe it A few do.
Most Americans have little money to invest. A few do.
Most Americans have no retirement plan. A few do. Most of these will lose their money. They trust the government.