Missed the Gold Rally? Now What?

[youtube=http://www.youtube.com/watch?v=lWktQi9fwW4]

  • Gold hit a 7 month high today, breaking $960 an ounce.  The fear trade is very much alive as companies worldwide concur that we have a FUBAR economy and probably will for a while.  On top of that, Count Porkula signed the stimulus bill into law this afternoon which basically authorizes the mass dilution and devaluation of the dollar.  This in the hopes that a bullet train from Vegas to Disneyland and the building of a Frisbee golf park (not joking) will be stimulative enough to offset the economic Armageddon in our midst.

    I’ve heard it remarked that The Fed will stop printing dollars when they run out of trees.  If you subscribe to either the mother-of-all-inflation or the end-of-days investing thesis right now, then gold is your play.

    A lot of guys I talk to on The Street have begun to proselytize and preach the gold gospel.  They are starting to sound like the Austin Powers nemesis, Goldmember (“I Love Gooooooooollllddddd!“).

    I own some gold-related trading vehicles for clients as trades or hedges, mainly because they’ve been working, but I haven’t started to stock up on canned foods and guns just yet.

    I wish I could say that all this gold fever means it’s a top, but intellectually, I can’t agree with that gut impulse just yet.

    Other than gold, if anyone knows the names of any publicly-traded safe companies or credit consolidation companies, I’m all ears, as these could be the next big winners as the depression develops.

    Yeah, not in a good mood tonight, surrounded by so much destruction.  It has permeated my soul at this point.

    41 days ’til Cabo…

    See Also:

    Gold rises to seven-month high on flight to safety – MarketWatch

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    1. tangerine banking online commented on Jan 06

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