Re: On the edges
in response to
by
posted on
Sep 14, 2010 02:22PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
I know I'm a little pumped today, but just one more side bar of positive information. I have a friend in Chicago who runs a small hedge fund. I grew up with him, he was my best man at my wedding. I have pleaded with him for 6 years to take some positions in PM and PM stocks to complete, total, and utter deaf ears, SOUND FAMILIAR? 2 months ago he wanted to talk to me on a speaker phone with some of his partners about the PM investment world, why, and what options existed. They started calling every other week. Now they are calling me once a week for more ideas, because everything I told them to buy has gone up: CEF, SIL, GG, GDXJ etc. , they should hire me, the Bastards, but.....at least, money, ever increasing amounts of it, is starting to wake up. this is the end of the second leg of the bull market in Gold that Russel talks about, when the institutions start to segway in. The last conversation with the Chicago guys was yesterday and, it went like this: "So tell me again about this CEF , is it an ETF?", Says I: "NO it's a closed end fund in Canada, Pure bullion 50% silver 50%gold Allocated, auditted, and physically inspected and accounted for by the officers who have their own money in the fund. I have called and talked to the chairman Spicer, myself. My family trusts use it for our cash, we don't have money market funds or T-bills anymore (says I) They buy only through Canadian refineries and they have checked for tungston-none (trust the Canadians, God bless them-except for Scotia!) The Chairman Spicer started the fund 40 years ago right after Nixon closed the Gold window.Then the Fund manager in incredulity says; "What do you mean you don't have Money market funds or T_Bills for cash?" "Just what I said" says I, More silence from the hedgies. You mean you really don't believe in paper money?" "No It's fake fiat, the Paper money system is irretrievably broken, I'm a Math guy, I've done the math-there is no way they can pay the interest on the accelerating Debt with the fagility of the economy without a masive devaluation- Gold is the Canary in the Coal mine!. You need to protect yourself." Then after a strangly pregnat pause, the Wealthiest partner says " Yeah, thats the vehicle so and so in Seatle put 4 million in, and I'll bet you so and so did 10 million in the same thing." Ok thanks "munisign" we'll be calling you. "Ok" says I "take care" I've taken care in giving them only the most conservative PM plays ( I used to be a broker-AGE(rest in peace),and they are happy, and increasingly interested to say the least. And, the next time they call me they're gonna get the ECU story in SPADES!
munisign