Marc Faber, Jim Rogers Continue to Hold Gold
the daily fluctuation of the markets based on little snippets and
tidbits of news can drive even the most astute trader or speculator
batty, but in the case of gold, investors and pundits like Marc
Faber and Jim Rogers aren't confused at all, and they both say they
have no intention of selling their gold, and are always on the lookout
for dips so they can acquire more.
into too much detail, the reasons these guys continue to do this
is there overall understanding of the macro-economic circumstances.
If you understand
the macro-economic situation affecting any investment, and gold
in particular, the daily ins and outs of the market are largely
irrelevant, unless you're trying to make a quick killing, which
hopefully you're not. Even the day traders can't do that great in
attempting to time the market, and very few are that successful,
even though there is always the glamor attached to being involved
macro-economics as it relates to gold, will deal with issues like
national debt, inflation, paper currency and the practices of central
banks; all of which the above are highly affected by.
around the world now central banks refuse to implement austerity
measures into their practices, as they're committed to bailing out
whatever major problems occur in order to save the various economies
or industries they deem in need of saving.
they'll have to print money and government debt will continue to
rise to astronomical levels.
is job creation in the private sector, which is just above zero
in the United States, with the government being the almost sole
creator of jobs, which means they're propping up the economy while
creating nothing of value that has a chance to last.
This is why
Faber and Jim Rogers continue to hold gold. The central banks and
governments have become addicted to these practices even more than
in the past, and it's not sustainable by any stretch of the imagination.
trust in paper currencies is eroding around the world, and the only
reason the U.S. dollar is stronger is because the euro isn't. It's
not because it has some type of safe or mystical power which makes
it a place of safety. It's only relative in the sense when you compare
to the condition of most other currencies in the world, which for
the most are even more unstable.
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