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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 385.99

+1.6%

Nov 12 4:00 PM EST

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From: Tommaso	5/25/2012 7:39:56 PM
	3 Recommendations Read Replies (3) of 29622

Some of us here have been holding gold metal since it was trading below $300. Some of us bought mining stocks like New Gold newgold.com at the end of 2008 when it was trading below $1.00 a share. Some of us have been holding GDX that we bought when it had temporarily dropped way below what it is now and have profits of 100% and more on it. Speaking now of my own view of gold, ten years ago I was almost as skeptical as Warren Buffet is now. But as I watched with increasing disbelief at what Greenspan and Bernanke were doing, I found myself converting into quite gold bug. I was so much NOT a gold bug ten or twelve years ago that I enraged certain posters (e. g. "Isopatch" and "Slider on the Black") with my lack of enthusiasm for it. Now it seems I enrage certain posters on this thread with my confidence that holding (NOT trading) gold and gold mining stocks is one of the best ways to buy insurance against reckless government financial policies and actions. The most distinguished economist that I know personally started exclaiming "buy gold!" when I pointed out to him what the Federal Reserve had started doing a few years ago. He's more of a political scientist, actually (the leading Hayek scholar) and had not been following the publications of the Federal Reserve that showed what was happening. I only wish that when he said "buy gold!" I had sold all my uranium stocks and bought a lot more gold than I did.

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