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 an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. 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.