Is it Time to Buy More Gold?

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Is Gold a Buy?

A huge – and I mean a huge – new gold buy recommendation.

Bill Gross, the bond king, one of the street’s most respected mentors, said in a recent Barron’s article that there is an impending credit explosion worldwide, a credit supernova, and owning real assets, gold, is one of the few ways to survive it.

According to Barron’s, since the dollar decoupled from gold in the 70’s credit has skyrocketed from a total in the US of $3 trillion dollars in 1971 to the current level of $56 trillion, trillion! Our GDP is only $14 trillion.

Our credit system was described in a Barron’s article as one big Ponzi scheme and that eventually we will be borrowing money just to pay the interest on our debt.

And, when the return on investable assets is so low that the risk outweighs the return, our current zero percent interest rates seem pretty low, the credit system, which he describes as fragile, will be out of time and the countdown to implosion will begin.

Gross’ recommendation for investors; plan for inflation, get use to much slower growth, invest globally, be aware of property rights and under what conditions  governments can confiscate our money and property, that doesn’t sound like good news, and transition from financial to real assets, gold, commodities, anything that can’t be reproduced as quickly as credit!

When Bill Gross, one of the ultimate insiders of our credit system, recommends gold as one of the only ways to profit from our credit mess, everyone need to take a second look at the yellow metal.

Never in the 30 years I have been in the markets have I ever owned gold.

But, even I am looking over my shoulder these days and gold is beginning to look like something I have to consider.

Gold is regaining its shine. Take a look at this one…

February 8, 2013 by  – Gold Stocks Today

http://www.MissionMining.com 

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About Mission Mining

US Gold and Silver Mining - Our Nevada & California mining properties are anticipated to hold extremely large precious metals resources. The Company has posted over $400 Million in Assets in its OTC Filings. Come join us!
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