Maybe Investors Should Read History
Tuesday, July 10, 2007 - FreeMarketNews.com
Just about everyone in the markets these days pours over their charts, hoping to spot the next move in the metals. Maybe they should read some history instead. Steve Saville of The Speculative Investor writes in a post on 321gold.com:"Changes in the INVESTMENT DEMAND for the EXISTING ABOVEGROUND GOLD STOCK are, instead, by far the most important determinants of the gold price. In fact, nothing else really matters. The difference between gold and other commodities stems from gold's historical role as money and its current role, in the eyes of hundreds of millions of people, as a store of value."Aubie Baltin writes in an article entitled The More Things Change, The More They Remain The Same:"The big boys, especially those super smart (?) Hedge Funds, can't get out. They and all their Carry Trades are all on the same side of the market- they can’t get out or even reduce their exposure (we all know what ends up happening to all those lemmings). But as far as us little and even not so little guys, there is more than enough liquidity for us to get out. After all, the big guys have no other choice but to support the markets in their attempt to stop them from collapsing. So what do you do now? SELL everything except gold and silver either now or gamble and wait for that last Blow- Off rally." Staff Reports - Free-Market News Network
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