Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: TheSlowLane	11/27/2009 7:54:31 AM
	2 Recommendations Read Replies (1) of 48092

“It stuns me...when I first started telling people in 2002 and 2003 I was buying gold, business people, they would look at me like I was flipped. But they knew that I had an investment history of buying things that had been bust, so they expected me for that, but I couldn’t convince my friends, in spite of my investment record with them, I couldn’t convince them to buy gold. It wasn’t until we hit five, six, seven hundred that they started to warm up to it because they had been watching it for a number of years. So it’s a progressive market. It took them three or four hundred dollars an ounce to jump on board and the American and global market is now just taking heed to the price rise. So, this is going to gain momentum with time. But what I really find interesting is that the dynamics of the gold bull market are changing too, because it seems like we were in a circumstance where there was clearly no liquidity in any markets last year and it pulled down gold and the reason it pulled down gold is simply the Fed backstopped every investment and gold was no longer a safe haven investment as normally it would be in a deflationary circumstance. And now that deflation has been replaced by a massive inflation. And so I think it’s going to prolong the gold bull market. I really don’t know how long it’s going to last. This could go on...I could imagine it being three years or eight years. The way I’ll decide on how I’m going to get out of this – and I do want to get out at some point – I don’t want my entire life to be in gold, I want to be in things that pay me dividends and pay me cash. I’m an all or noner. And right now, all my liquid funds, 100%, are in the gold market. And that’s a pretty strong statement from a guy who’s never owned gold. It’s been that way for four years. Five years now. So I just think this thing really has a lot of legs and it’s going to be interesting to see what kind of dynamic it takes on. But I see the liquidity of the gold bull market changing. And it’s creating as its price rises, it’s creating its own liquidity." - George Karahalios, participant in the FSN roundtable discussion ( Message 26131031 )

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