International Forecaster March, 2005 (#4) - Gold, Silver, Economy + More
By: Bob Chapman, The International Forecaster
MARCH 2005 (#4) Vol. 9 No. 3-4
P. O. Box 510518, Punta Gorda, FL 33951
GOLD, SILVER, PLATINUM, PALLADIUM AND DIAMONDS
Gold is a store of value and the only real currency in the world and it will always be that way. It is not just another commodity. It is much more than that. It is an island of stability and safety in periods of financial crisis like we have today. Gold and silver to a lesser degree are ideal insurance against the ravages of fiat money.
Everyone on this planet will soon need gold as we face slowing economic growth; rising interest rates; falling stock, bond and real estate prices; rising oil and gas prices; ongoing war in Iraq and Afghanistan; the possible invasion of Iran, Syria and Venezuela; a move by China against Taiwan; the possibility of nuclear war and terrorism; a political crisis; a collapse of the dollar or the imposition of Martial law in the US.
You buy and hold gold and silver related investments and put them away for the duration of what will be the biggest precious metal bull market in history. The only time you should trade is when you absolutely have to. You have to have conviction and you cannot be shaken out of your position by false profits. Higher gold and silver prices are here to stay. They are a dominant trend. Remember, the trend is your friend.
Those 20,000 workers in South African gold mines that are going to be laid off because of suppression of the gold price by the elitists, support 12 others each. That means 240,000 people are not going to eat.
Word out of India is that no one is going to fall for the new Indian gold ETA. Our sources say get real.
This has got to make you puke. The World Gold Council has appointed Pierre Lassonde, President of Newmont Mining, as its new chairman. Now you can understand why Lassonde never would give any credence to the fact that the gold market was manipulated. Antics like this are a reminder as to why gold has a harder time going higher. We get very little support from the mining industry that knows darn right well that the market is being manipulated.
DRDGold will close Blyvoors & Harties shafts. Incidentally, both of us have been down both those shafts, although that was 30 years ago. That cedes a third of their 15 million in gold reserves and that means 5,600 workers lose their jobs and that takes food out of the mouths of 67,200 people. We hope the elitists are proud of themselves for starving these people by rigging the gold price.
Needless to say, the unions are outraged. They can blame their Marxist government for not only destroying their country, but also the mining business. Finance Minister, Trevor Manuel, thinks it is just fine for the IMF to sell gold to suppress the price. The Marxist morons at the National Union of Mineworkers want the government to have DRD Gold’s mining license revoked. Stay out of South African investments, they’ll have nothing but trouble.
