The Depression Without End
(financialwire.net via COMTEX) -- February 2, 2006 (Financial Wire) If you are standing, sit. If you are sitting, lie down. If you are operating heavy equipment or tending to small children, wait until you are finished.
Gold analyst William Tehan told Investrend co-sponsored Triple Gold Conference attendees (produced by Afund.com) Wednesday that sometime in the next decade today's non-commoditized monetary policies will lead to a global depression for which there will be no exit.
He said the U.S. crashes of 29 and 33 ended only because the U.S. changed security laws and confiscated gold, making it the backbone of the dollar. With only enough gold mined since the beginning of time to fit into a cube 67 feet by 67 feet by 67 feet, or not enough to fill the inside of the New York Stock Exchange, there simply will not be enough now to fit that need, leading some attendees to joke that the new commodity seems to be "enriched uranium."
Market analyst John J. Licata chimed in that oil is a similarly shrinking resource, and that the whisper data is that Saudi Arabia, no matter how bullish about their ability to increase production, can not. He said other big suppliers, Nigeria and Iran, are geopolitically challenged, and that our best hope until President's Bush's ethanol production kicks in, probably about a decade from now, is Canadian oil sand production. Many attendees said it was the most informative conference they had attended and stood in stark contrast to the output from most "bull" events these days, and you know what bulls output. We're pulling for a return to Dow 11,000 and we're burrowing our heads into the sand. That should make these naysayers' prophesies disappear forever. Right? Meanwhile, how to make money from these troubles? Invest in oil sands companies and gold companies.
Got gold??
IPMG and AURC are must haves.
rrm |
