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trade and current
account deficits improve, legendary investor and businessman
Warren Buffett said. "I think, over time, unless we have
a major change in trade policies, I don't see how the dollar
avoids going down," the world's second-richest individual
told CNBC television. "I don't know when it happens.
I don't have any idea whether it will be this month or this year
or next year, but we are force-feeding dollars on to the rest
of the world at the rate of close to a couple billion dollars
a day, and that's going to weigh on the dollar."
was
particularly clear when the Caishikou department store sold all
its gold bars in just a matter of hours last month. When a second
set of gold bars was released, the top gold retailer in Beijing
asked people to register by phone and nearly 3,000 people did.
The urban middle class is looking to cash in on the value of
the precious metal and all made sure they benefited from the
recent price peak for gold. Although exporting gold is still
banned, a booming home-grown market has now allowed the metal
to trade relatively freely, according to the China Post. Last
year 235.35 tonnes of gold were traded on the exchange and the
figure had already reached 170.04 tonnes of gold in the first
half of 2004 alone.|
Marie Ballard |
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Marie Ballard |
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Psychologists say to stay in bed today. Second term tests (Pat Buchanan) The fire bells of inflation; a war of choice Behind the falling dollar (Washington Times) The U.S. could sink into a depression and take the world with it. |
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"Investing in gold can secure a glittering return. Nations have built wealth and power on gold...a commodity people can touch instead of cash. The history of gold is as old as time itself. From references to gold in Genesis to the myths of Jason and King Midas and the legend of King Solomon's mines, gold has been a symbol of wealth, freedom and power. Empires and nations from Charlemagne to the Spanish conquest of the New World to the American frontier movement pursued gold or built on its promise. Gold today is not just the preserve of the jeweller and all who appreciate fine pieces that use this precious metal in its making. In an unstable world, gold should form part of a balanced portfolio and there are several ways in which this can be achieved for the individual. In value, gold has been rising dramatically recently. From US$253 per troy oz in November 1999, the price rose to US$454.2/troy oz in early December the highest level for 16 years. It can be a useful 'insurance' against extreme movements in traditional assets and rarely follows economic patterns." Conal Gregory, Yorkshire Post This is a useful, easy-to-digest reference of recent gold market analysis from the experts. |
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Important Contacts and Website Links  Centennial Precious Metals, Inc. _________________________________ since 1973 Gold coins & bullion. Call for quotes. We educate first-time investors. Attuned to the times and the needs of the modern gold investor. Denver, Colorado 80246
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In 1920
the German government issued both 20 mark paper notes and gold
20 mark coins with a net fine gold weight of .2304 ounces. It
is interesting to note that if you were to hold both in your
hand today - the 20 mark national note would be worthless and
the 20 mark gold coin would still approximate the same purchasing
power it did in 1920. For that matter, the German government
issued a 20 million mark note a few years later which
commanded the same purchasing power as the original 20 mark note.
And a couple of years after that a 2 billion mark note
commanded the same purchasing power as the original note. All
the notes are now worthless though they make for interesting
conversation pieces. At the height of the Nightmare German Inflation
in 1924 the 20 mark gold coin (pictured here) was worth nearly
three billion marks - testimony to the transience of paper money
and the historical stability of gold.