Scary of Gold Forecasts by Jim Rogers, Marc Faber?
by Jim Sinclair
Recently by Jim Rogers: Dow 1 Million? Sure, Why Not?
The gold bears are out today as the aired 2010 predictions are being issued by talking heads.
Some pro-gold stars like Mark Faber and Jim Rogers are being interviewed every day and are predicting a dollar rally. That is scary to those that have followed them and is making them emotional.
This is the end of the year and there isn't a market for much right now. There is profit taking on gold spreads as taxes on commodity trades as regular income are anticipated to rise meaningfully in the near future.
The ease in the US dollar is being considered as yearend as most predictors are friendly to the dollar short term.
In the grand scheme of things this period is quintessence in its meaningless nature. Stay the course.
Following are the gold-predictions from Jim Rogers, Marc Faber, and Nouriel Roubini:
In the 1980s the US Dollar was a very strong paper currency compared to the Mexican Peso. Today, there is no paper currency that is as strong relative to the US Dollar as the US Dollar was relative to the Peso in the 1980s! The only "currencies" that have a chance of becoming as strong against the US Dollar as the US Dollar was against the Peso between 1979 and 1988 are precious metals such as gold, silver, platinum, and palladium.
December 30, 2009
Jim Rogers has taught finance at Columbia University's business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website.
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