In an exclusive interview with Kitco News during the 2010 McEwen Capital Reception last Tuesday, McEwen said that governments are printing excess amounts of paper currency and it is cheapening the value.
“It is making everyone’s bank account worth less, so you need to go out and find a way to protect it,” he said at the gala in Toronto.
According to McEwen, gold is the answer. He remains confident in his repeated prediction that gold will hit $2,000/oz by year-end and $5,000/oz before the gold bull run is over.
“It is up to me and you to protect ourselves by going into gold and other hard assets. It will deliver you multiples on your investments; this is what you need to protect yourself in this type of environment,” he said.
“I happen to like gold bullion and Junior Mining Stocks because they are going to run,” he added.
McEwen noted that not all juniors will run and it is important to choose wisely.
In terms of what he looks for when choosing juniors, he said he likes to see the CEO of the company have a large equity interest in the company.
“I don’t like to see him take a large salary and lots of options and have no stock. I like to see the property be in a place where it is not going to be taken away by a foreign government. That they are not people with more guns than we have and with no laws, so I tend to go in the Americas,” he said.
On the topic of the sale of the IMF’s gold, McEwen says it will have no depressing effect on gold. “When the IMF offers it, it will be gone in a nano-second,” he said.
Link Here..
www.thezeitgeistmovement.com
ReplyDeleteA$$inine. If there is hyperinflation - and I suspect there will be 5k will be meaningless. When the currency tanks nothing will stop the peg there - or anywhere.
ReplyDeleteIf there's major deflation - and I suspect there will be - 5k in paper will be worth
ReplyDelete50k.
Davos is 100% right.
ReplyDeleteKeep your eyes on the growing schism between London/DC and Paris/Berlin.
The Germans, French, Belgians and Greeks want to cancel all credit default swaps. Also, Central Europe is busy setting up the "European" Monetary Fund to replace the Anglo IMF. The fund is to be backed by gold.
Together, Germany and France (Central Europe) are the world's No. 1 exporters, not the Chinese or U.S.
Prediction: within two years or so, Britain will be neutered in terms of global power and reach. The Brits are done. And so are the Americans that the Brits are so busy destroying through their minions in DC and New York.
Bottom line: the Anglo-Saxon elites are fools. They're about to be double-crossed by an alliance of Jews, French and Germans: the REAL New World Order.
Does anyone have any suggestions on how or what to do with retirement accts, 401k etc. through the company. Can they be transfered to ANYTHING?? safe. If I put it in paper gold it is not safe. How and what do we do?? If I cash it all in I pay a ton in penalties. Is that what any of you guys are doing. You can't just put 750,000.00 in gold under the mattress. (I don't have anywhere near that much) Advice please??
ReplyDeleteDear 6:35 am:
ReplyDeleteDon't be alarmed at the penalties. Convert all paper 'securities' such as 401k, retirement, to physical commodities (gold,silver,platinum, a fully paid for house with land suitable for chickens etc).
If you think the 'penalties' now are bad on withdrawal, consider the final penalty of 'and it's gone' in a few years.
Things are bad. Be prepared.
If you need further convincing , start reading zerohedge and Marketoracle.co.uk
Peace
Davos if there is Hyperinflation GOLD will be 5k, but in whatever real money we will be using at the time. Fiat will be worthless, GOLD will hold its VALUE, so you are wrong.
ReplyDelete"GOLD will be 5k, but in whatever real money we will be using at the time."
ReplyDeleteFiat isn't real money.
5k is meaningless, When the USD and other currencies experience a crisis 5k will come and go ---- think Zimbabwe
GOLD will will 5k in some currency somewhere in this world. Do you think the CHINESE/INDIA/ROTHCHILDS will allow their GOLD to collapse to zero? Not a chance. The "number" will adapt to represent a value in some type of currency somewhere in this world. Perhaps a new World Currency.
ReplyDeleteI see gold and other "things" as a means to preserve value, nothing more. I also "save" in real items such as food, water, clothes... to me saving means to be prepared for bad times and what better way to do so than to have the physical things you will need and might not be able to buy later? I feel safer with a nest egg made of rice, gold, canned goods etc than an IRA denominated in dollars or any other currency (including fictitious gold)
ReplyDeleteIs there an age limit to buy gold and silver? Is there anywhere we can get it locally instead of online?
ReplyDeletewww.thezeitgeistmovement.com is all talk and not moving. Prove to the world with Venus Project cities. Only then we believe.
ReplyDelete9:12 go to your local coin shop. Anyone can buy bullion no age limit..
ReplyDeleteJesus Freak, I get a serious match from employer so I am thinking about withdrawals after the match. I can roll it over to a bank fund so I can get it easier without begging. Leave just enough in company acct with the required deposits to get employer match and then roll it as soon as it hits. When I withdraw from the bank I would then go buy gold. Is that a good plan? How do I know the price I am paying is accurate and the dealer is selling the real thing? What do you guys think. Any advice appreciated.
ReplyDeleteDear 11:04,
ReplyDeleteBuy from a reputable dealer such as Southern Coin Investments, you can buy gold coins by grade, average circulated which is called "very fine" up to uncirculated. The better the grade, the higher the price. Either way you will pay a little more than spot for actual pre-1933 US coins, but this is the cream of the crop for gold investment. About $1300 for a "very fine" $20 gold piece (aka Double Eagle almost 1 oz.) is a fair price ($695 for a $10 1/2 oz);
LOL all the talk and drooling over gold, it will be worthless in the long run.....what do you morons think? They will open up a gold "window" at the local bank? I can see it now, the local banker will welcome you with open arms when he sees you walking up with a gold eagle and some mercury dimes,LOL
ReplyDelete"WELCOME ALL PM HOLDERS" all others go around the back of the building to the soup line,LOL
this is the stuff fairy tales are made of...you could better stash some cash and canned green beans
GOLD SUCKS THE BIG ONE... $50 bucks says you're under 25..and never seen a GOLD coin in your life
ReplyDeleteTo "Gold sucks the big one"---Who needs a bank? Who needs their depreciating paper cash? Keep your cash and your beans, you can decorate your walls with the cash. One reason I own gold is because banks are closing weekly. There are plenty of ways to sell and barter with gold and there always has been for the last 5,000 years. What other money has been good that long?
ReplyDeleteHey 9:12. I've been buying silver over the last 8 months. There are few coin stores in our Midwest state that sell bags of 90% coins. Thier primary business is rare and collectable. My local coin dealer did order my first 100 silver eagles. I found that I could get quicker delivery from apmex.com The only negative with the oline is the 3% additional fee for paying with cresit card. I have to view it as delivery insurance, as visa will reimburse if the company doesn't deliver. Most online companies will not ship for 4 weeks. That's bulls**t, they are just using your money for 30 days. Don't do it. There is no reason they can't ship in 3 - 5 days if they accutually have the PM in stock.
ReplyDelete6.52 your right up to a point some vendors like nwt like to "borrow your money" for 2 months free interest at your expense.There are a number of repectible companies that will deliver within 10 days.ie.Brandons coins.First Majestic Silver Colonial acres in Canada Westminister MInt.I do a lot of business with First Majestic--great bullion quality and choice.More inportantly their prices are commonly close to spot compared to others.Moms silver shop also delivers quickly but there premiums are a little hight on Eagles and other bullion coins.There still quik to get it to you.The worst for time delays at least for me has been Northwest Territorial mint.A little pricey but you have time to grow a fair lenght beard before you recieve the product.
ReplyDeleteINcidently First Majestic products are mostly fabricated by N.W.M and sunshine mint.BOth are high quality products and very recognizable brands.hope that helps.
If your in Canada go to any Cibc or Scotiabank they sell bullion at very modest marketups and the name brands are ussually Englehard or JOhnson Mathey.