In exchange for a promise of 400,000 barrels of oil a day by 2015, China has agreed to lend Venezuela $20 Billion that it sorely needs. This will help offset China’s dependence on Saudi Arabia for its oil needs. Venezuela produces extra-heavy oil that is high in sulphur and has specific refining needs. Most of [...]
John Mauldin is an investment adviser for wealthy individuals. He has a fantastic free weekly newsletter where he deconstructs the political-economic environment and offers good advice on where to invest. He is also a big proponent of owning gold. Here’s his reasoning:
Why would anyone want to be long the dollar or treasuries? The dollar may [...]
In the last post, I mentioned Richard Russell’s views on gold. Recently, he declared that he was extremely bullish on silver as well:
January 6, 2010. They call it “the poor man’s gold.” But don’t turn your nose up at silver. The dollar was originally defined in terms of silver. When precious metals are on [...]
Buying and accumulating gold must be seen as a LONG-TERM proposition. I can tell you that gold is going much higher, but I can’t tell you when. I can tell you what to buy — gold bullion coins — but I can’t tell you when it’s going to go into its bubble phase. By the [...]
I just got an email from a company that I have previously bought gold coins from. They said that the US Mint has temporarily suspended the sale of 1 ounce Gold Eagles but the 1/10th ounce gold Eagles would actually resume. For the first time in a year, 345,000 coins would be made available to [...]