Thursday, October 4, 2012

Sell your Gold

Several weeks ago, I was at a birthday party for a Girl who my wife used to babysit years ago. I was chatting with a friend of her father's and I mentioned to watch China and our currency. The reason you want to get rid of you gold now, is because we don't know what currency will maintain it's value. If you are one of the lucky persons who bought gold at $700 an ounce or less, sell 60-70% of it, take your profit and run or invest in oil, yes I said it, those evil oil companies.
I can't say I see the price of gold going down, but the value of it will, in other words, what would you be able to buy with a 1 gram bullion when we don't know what it will be worth in the future.
I thought I logged this statement somewhere a few months ago, I'll have to research it. Watch China. Look at what is happening in Iran with it's currency due to U.S. sanctions. Take care.

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