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« Gold slips after Greek bailout agreement | Main | Hedge funds in gold price rethink »

A Question About Gold


Posted on February 17, 2015 by 

QUESTION: Dear Mr. Armstrong,

I “think” I am finally beginning to grasp some of what you have been preaching, but first allow me to say “thanks” for everything you do to help some of us understand what is unfolding all around us, and “how” everything is connected, and that nothing happens in isolation, again, “thanks” !

Also, I wish to say I started to read everything you published, beginning with when you were in jail (bless you for being so strong & standing-up for your rights), and now crave everything you publish as it helps me and my family to finally make sense of all this chaos headed our way..

You are indeed unique, so I only hope you continue your work, what a generous act on your part, if only the politicians had an ounce of your integrity.

I have a question of personal finance, and would venture to guess many others are in the same boat, so hopefully this e-m gets to you and that you have time to read and respond, I apologize for its length. To begin, I must also confess that I am one of the ignorant masses that fell for the whole gold bug thing believing we would experience massive inflation with the issuance of QE1, and 2 and so on…not realizing that the world could easily absorb, and that PM’s only rise when there is a “loss of confidence”….

I had bought gold way back in the 80’s but only a small percentage of my assets, but as prices went-up, I fell hook-line & sinker, and went all in, first paid off all my debts, sold off my paper assets, IRA’s, paying taxes due, accumulating only physical gold & silver, which is all we have now, excepting our house and some raw law, everything is paid for, no debts, none… My average cost is about where the market is now..

Since I wasn’t smart enough to listen and believe you early-on, I accumulated up to 2011, then started to build cash…My wife and I are still employed but reaching our late 60’s, and had hoped to retire soon, but seeing that PM’s will not stand a chance to go higher for some time, we continue to work…

Finally, I come to our question, with the lows not in yet on PM, and may not come for awhile, with “Big Bang” getting closer, am I better off sitting tight, and hoping for the best, or selling out and converting to cash, paying capital gains if any, then buying again into equities since the market keeps climbing ??

Read more.....

Gold, Silver and HUI are heading south - Could there be a final capitulation just ahead of us? Have you plenty of cash to take advantage of the coming bargain prices?

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Reader Comments (2)

So we should dump our gold and gold stocks and buy at $1000 or less ?

February 18, 2015 | Unregistered Commentersilver bug

silver bug,

We are not financial advisers so we cannot answer your question as it stands. We can only call it as we see it and inform our subscribers of what we are buying and selling. We are currently 70% in cash and are preparing for a 'final capitulation' if that's any help.

February 22, 2015 | Registered CommenterGold Prices

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