Wednesday, October 6, 2010

Just Say No to Gold

Yesterday we posted an article about how some rich folks were buying gold by the ton.

Today the advisers to the rich people are saying their clients should say "no" to gold.

Dang it! Does that mean that the rich people aren't listening to their advisers?? Or does that mean some advisers are telling the rich to buy gold....while some other advisers are telling the rich NOT to buy gold?

I'm so confused.

(Reuters) - Gold is all the rage as investors flee uncertain markets and worry about inflation, but some bankers to the very rich do not take a shine to the precious metal.

Gold prices have spiked 22 percent this year, with investors sending gold futures to record highs of more than $1,337 on Tuesday. The weak dollar, volatility in currency markets and deficit worries boosted demand for the metal as a safe store of value.
Private banking executives, say gold's glittering price tag is or should give their wealthy clients pause.

"We're not really recommending gold right now, just because it's at a level where there are things driving it beyond the types of things (where) that we can add a lot of value," U.S. Trust President Keith Banks said at the Reuters Global Private Banking Summit in New York.

See it here; http://www.reuters.com/article/idUSTRE6943X820101005?loomia_ow=t0:s0:a49:g43:r1:c0.350000:b38049610:z0

It seems this is just one more layer of confusion that is being laid out for mankind. You kind of get the idea that the uber-rich are running around, desperately trying to figure out how to protect their wealth when really they should be running around seeking Jesus....before their time is up.

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