Buy Gold Coins and Bullion Now!

April 2, 2009 Inflation, Market Updates, Physical Gold No Comments

The “cumbaya” moment brought to you by the G-20 provides us with another opportunity to buy gold coins and gold bullion on the cheap. Buy gold coins and gold bullion while the world revels in a global socialist “cumbaya” moment.

All is right with the world because the central planners said so! With that as a backdrop, the Dow is off to the races up 304 at 8,065 (can20,000 be that far off?), the NAS is up 68 at 1,619, the dollar, oddly in a perfect world, is down 1.17 (1.51%) at 84.30 and gold, that barbarous relic, is down $22.50 at $904.90. As I suspected yesterday, the G-20 is presenting a unified front as socialism takes a large step towards globalization. All of this is based on unsubstantiated reports before the formal communique which will come out later today or tomorrow.

community organizers at the g 20 Buy Gold Coins and Bullion Now!

Don't Worry, Be Happy!

The market is not responding to the “cumbaya” moment brought to you by the G-20, but rather to the relaxation of the “mark to market” regulations on the major financial institutions. Mark my words, when the dust settles and the implications of the requested “global regulator” sticks it’s nose under the side flap of the U.S. business tent, the market will regurgitate these gains in a heartbeat. This financial crisis is not going to be solved any time soon by the cabal of the global “community organizers”. Enough said!

Gold’s reaction is not in anyway unexpected. Gold has been drifting down to retest the $885 to $900 level since it’s latest upward surge and the G-20 meeting is just the latest trigger to send it in search of the support that is building a firm base under gold.

Gold is reacting to Britain’s desire for an agreement from the Group of 20 nations to improve the way the International Monetary Fund uses its cash, including freeing up money for lending by selling it’s gold reserves. International Development Secretary Douglas Alexander said,

“Among the measures we hope we can affect is the commitment to provide more and better funds for the IMF and World Bank including by using profits from the sale of IMF gold reserves. There have already been conversations with the South Africans and others in terms of whether the gold market can bear a phased and appropriate sale in a way that makes sense commercially.”

Timothy Geithner, the U. S. Treasury Secretary, chimed in at the appropriate moment to say that the Obama administration soon will push Congress for legislation that allows the IMF to use its stockpile of gold to boost its funds, which conveniently will suppress the price of gold while he is printing the heck out of the U.S. currency.

Alexander went on to say,

“I wouldn’t expect there to be an immediate decision out of today’s decision to sell gold tomorrow on behalf of the IMF. On the other hand, there is recognition from all parts of the international financial system that we are risking an unprecedented crisis which risks impoverishing many hundreds of millions more people around the world.”

“We are from the government, and we are here to help you.” Something tells me that the global governments have decided that they can’t screw enough people by doing it as individual entities and the decision has been made to band together and do it on a global basis. “Cumbaya”, thank you very much!

If you believe all this b&%^#@@**t coming from the people that created the financial crisis, then by all means jump into the general equities because all is well. If however, you still can think without being told what to think, buy gold coins and gold bullion on this dip. If you want to leverage your money buy gold stocks. Any market that is artificially suppressed will bounce back and over shoot to the upside. This dip is a great opportunity to go in and scoop up oversold assets. Don’t let it get away without profiting from it while you can.

Till next time, good luck and good trading!