Topic category: National Crisis - Saving our Constitutional Republic
Did you make some Goldman-Sachs-approved moolah today?
Now you can understand why GOLDMAN-SACHS have GOLD in their name...and it's not because they are sinister. It's because they trade well and their critics are sinister! Mostly, and hardly surprisingly, their critics don't trade well either. But that's their problem. Besides, I don't advise people what to do. I just tell them what I am going to do. If they do what I do, it's their business and their pocketbook. So take this with that grain of salt. ERGO, I wrote Dec. 14th:
The Gold Bugs Are Throwing in the Towel MarketWatch
Gold bugs over the last two weeks have become even more discouraged than they were at the end of November. READ THE REST.
What would I do? Buy some at these levels, a little more if it goes lower, and a little more if it goes higher.
I'm not a gold bug - and silver is a better bet. An interesting combo is UXG - US Gold trading @ $2.95/share as I'm writing this @ 11 am.
On January 12, 2012, UXG closed at $4.13, a profit of exactly 40% in less than ONE MONTH!
Annualized, that profit translates to 480% before compounding. After compounding, and that is an assumption too, those of you who are better at math and trading than I am can calculate the numbers. On my calculator, the way I look at it is this: a $10,000 investment Dec. 14th is now worth exactly $14,000. In my area, a reasonably good lunch. With wine of course. And cloth napkins. A $100,000 bet is worth $140,000, or a decent automobile with genuine rubber tires and real glass windows that roll down. And you were not left in debt either.
John Corzine, eat your heart out. Vegas, here I come!
Andrew G. Benjamin is a real estate and tax specialist, equities trader, a former economic advisor to New York city mayor Rudy Giuliani; serving on the transition team's Subcommittee on Taxation, Finance and the Budget. Benjamin also wrote extensively about intelligence, political and economic issues, the Mideast and its history, terrorism, technology, high end audio, migration issues and transnational politics concentrating on Europe.