Gold

I know there are "gold bugs" on this blog and I wanted to bring in advice for those who do not own gold/silver. You can use the bing cash back on ebay to get 8% off coins. The question is, what type of coins do you buy? I like the Gold Eagles PR70 rated coins by the NGC. Ultra High Relief MS70 is the best, but some people may think it is too much money. My take is to buy the best gold and silver coins since how many in reality are you going to physically own? If you are going to own a handful, why not purchase the best/rarest?

I still worry down the road, the government can "confiscate" an ETF like GLD in your trading or roth ira account. While it does do a great job at tracking the price, the government can take over and give you inflated US dollars. The Sprott Physical Gold Bullion Trust http://www.sprottphysicalgoldtrust.com/ just came out which you can purchase with your trading or roth ira account to own the physical gold bullion.

As for the gold and silver miners, GDX, GDXJ, SIL are etf's that own a basket of the miners. The 2 reasons I prefer the ETF's is they own miners non traded on the NY stock exchange and it is easier to manage. The only con is one of the miners can explode 200% and you will only see a small increase in the ETF since the EFT may only have a 3% holding in that particular miner.

Anyway, I wanted to get some of these gold thoughts out there to receive some feedback.

Short term, gold is looking to make another run toward $1200. 0 sigma held and the 200 bar just when inside -3 sigma.

SEC Charges Goldman with Fraud over CDOs

I do not have time to write much about this now, maybe someone else can do that. I just wanted to post a link to the complaint so everyone can read it if they want to. Here it is: http://www.sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf

The wikileaks video of Iraq Shooting - WARNING Graphic and You May Become Nauseous

Here it is. Way to go wikileaks, no wonder the Government tries so hard to shut them down. The video speaks for itself.

Capital Controls = Forced inflation tax

I am surprised the "herd" media outlets have not picked this this up.

LINK

"Provision requires that foreign banks not only withhold 30% of all outgoing capital flows (likely remitting the collection promptly back to the US Treasury) but also disclose the full details of non-exempt account-holders to the US and the IRS."

So now, it is illegal to have a foreign bank account that is not in part of the US umbrella. If you trade the Asia/Europe markets with an overseas broker, you have to waiting until tax time to get back up to 30% of your profits? Unreal. This is the camel's nose under the tent as they do not want anyone to get out of the dollar. It's not about home many dollars that you have, but what can those dollars purchase. I really do not want gold to got to 10k an ounce since that will mean 1k US dollars today would be = to $10 in a 10k gold environment. But, the writing is on the wall.