How should investors hedge against today's falling currency values?
*Dow Theory Letters, by Richard Russell, December 28, 2007:
“I've never made any secret of it. I've said all along that my
biggest position by far has been, and is, in gold. And I've suggested
that subscribers do the same thing, buy gold, load up on gold, ignore
all the bearish and ignorant nonsense being spouted about gold -- and
hang on.”
“The US is now churning out dollars in an effort to ward off a
recession. The growth rate of M-3, the broad money supply, is running
above 16%, the highest in 47 years. Most of the Asian central banks are
pumping out paper even faster, as they seek to keep their own
currencies competitive with the dollar. The result -- all paper is
being devalued against the ‘rock,’ the center-piece, the only money
that the central banks can't devalue -- gold.
GOLD -- understand it, be glad you can legally own it, buy it,
accumulate it -- hang on to it.”
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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