David Rosenberg on Gold and Commodity Currencies

Gold Price and Chart - ETF: GLD Price & Chart

-------- Original Message --------

Subject:	David Rosenberg on Gold and Commodity Currencies
Date:	Mon, 22 Nov 2010 09:00:51 -0800
From:	Jas Jain

Gold and Commodity Currencies...

"Gold and silver continue to look good in this environment of an ever-declining level of faith in the integrity of the global financial system…"

Those who have read my comments since 1997 know that that has been my primary argument in support of owning gold. Gold is an insurance against the collapse of the American-led global financial system, a system that over the past 15 years has been turned into a System of the Crooks. And China is the biggest beneficiary of this.

I am not bullish on silver and commodity currencies because the Greater Depression cannot be pushed farther into the future, with most developed economies artificially supported by debt, for long. What sort of person has faith in govt's (including the Fed) powers to grow the economy for the good of the majority? The endgame is near.

Jas

-x-x-x-x-x-x-x-x-x-x-x-

David Rosenberg; 11/22/10:

"Gold and silver continue to look good in this environment of an ever-declining level of faith in the integrity of the global financial system (gold is up 24% for the year and silver has gained 65%). At the same time, some of the commodity currencies are taking it on the chin — New Zealand's kiwi was just hit by a downward revision to its credit rating outlook by S&P 500 to "negative" from "stable" and the Canadian loonie has been trading a tad more softly of late, too."

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