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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Claude Cormier who wrote (54589)10/21/2004 8:38:33 AM
From: Taikun  Read Replies (1) of 74559
 
Claude,

It may or may not come to that. I don't know, and I can't do a darn thing about it. In case it does, since I am in the US, I choose to store my gold outside the US at Bordergold. You achieve the same at GoldMoney. Jay's comment may or may not come to pass. Noone knows. This is all about risk management, that is it. If I have a different viewpoint, so be it, but I do not want to be so delusional to think the Central Banks of the world are going to take gold rising to $1000 lightly. The failed Sept. 9 T-Bill auction underscores how threatened the US dollar already is. Remember the US dollar, not gold, is supposed to be a reserve currency. Will the US forcibly convert Kitco accounts to US dollars? I don't know. It is beyond my control. However, I have 82 problems on my list already and to avoid the weak US dollar putting my paper gold holdings at risk I personally elect to hold physical gold in a country where the economy is commodity-based, the debt is under control, they are a gold producer and they do not retaliate against someone like Embry posting his piece on gold management. That country is Canada and the Royal Canadian Mint suggested Border Gold.

You do not have to do what I do. I do what I do because I don't want to have 83 problems on my list.

<I do not think that our governments will come to that nonsense.>

I have learned through very painful personal experience to be careful with the use of the word never. Now is not a time to be cute with one's assets.

David
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