On December 31st 2008, when gold was trading at USD$850.00 I predicted it would go to over USD$1400.00. At the end of 2010, gold is now trading at USD$1420.00.
At the end of 2008, when silver was trading at just USD$11.00, I predicted it would go over USD$30.00. At the end of 2010, silver is now trading at USD$30.89.
Had you invested in gold you would have made a profit of 65% and with silver you would have made a profit of 153%.
Let me give you my predictions for gold and silver for 2011:
Gold will go to $1800 and above and silver will go to at least $45.00. If you have not yet invested in gold and silver, it is still not too late. Precious metals are yet to become mainstream and therefore have a long way to go. We are at the beginning of a long-term bull market and there could be shortages of the physical metals in the future.
I predicted that real estate would fall dramatically in the US and it is continuing to fall. I predict that over the next two years, property prices will drop overall another 20% the US and that the Chinese and Australian property bubbles will burst. There will be small pockets of land and real estate that will hold their value even during the economic crisis that still lies ahead, but they are few and far between. In the main, if you are thinking of buying property, think again. You may want to rent for a while to keep your options open. Don’t get into something that looks like a “real bargain” only to find six months later that its price has dropped by another 20%.
Stock markets will be more volatile than ever. Between now and 2014, the Dow Jones could still fall to 90% off its all time high. If you are thinking of trading on the markets during 2011, make sure can afford to lose the money you are investing as there will be wild fluctuations in prices and people will become even more speculative than before and bubbles will form and burst in the twinkling of an eye.
The US dollar will continue to fall and we will see the start of currency wars, trade wars and cyber wars.
Unemployment in the US is at a 26 year high and unemployment among the young is at over 50% in Spain and Italy. This sets the scene for greater unrest and revolts against authorities and governments to come.
During 2011 we will see the schism between the haves and have nots widen with more austerity measures piled onto average person. We’ve already had civil unrest in Greece, Ireland and the latest in the UK with the students’ revolts and an open attack on Prince Charles and Camilla.
We will see more bailouts this coming year, governments taking on even more debt and more printing of colossal sums of money. We’ve already had QE 2 and I am fully expecting to see QE3 some time in the summer to fall of 2011. The same holds true for Europe where the situation is also worsening.
Governments worldwide will be imposing more and more taxes. Sales taxes, property taxes, income taxes etc., cash strapped states, councils and governments will be looking for ways to squeeze cash out of the everyday person. Make sure you keep your accounts and business dealings in order as I am seeing Inland Revenue departments chasing even small sums of money such as $50 or $100.
There will be more groups who want to expose corruption in governments, banks and big business. It has started with Wikileaks and OpenLeaks, but the power of hackers around the world remains unknown and they may be able to bring down the likes of Paypal, Visa, Mastercard and Amazon. Take your privacy seriously and do whatever you can to put in place protections for your online security and financial security.
We will see more government leaders voted in and out of office quickly, just as we saw in 2010 with Kevin Rudd voted out by his own party within a year of taking office. And in the US the November mid-term elections where there was a sweeping change in the balance of power.
There will be more natural disasters in places we least expect them. In 2010, Christchurch experienced a 7.3 earthquake and seismologists were not aware of a fault line in that area of New Zealand. There continue to be severe aftershocks that are still affecting the people and the buildings. Changing weather patterns will bring about freak weather conditions. In Australia there is severe flooding in areas that have had droughts for the last ten years.
I predict that we will see flooding so excessive in some places where small towns or even whole cities will go underwater. A proliferation of water borne diseases could ensue.
The majority will stick it out in the cities and towns and they will face civil unrest, uprisings, austerity measures and restrictions on their personal freedom. Others will withdraw, retreat to nature or live communally with others of like mind. They will be concerned with survival issues and will live independently and self-sufficiently, growing their own food and generating their own power. If you are unable to escape from where you are living, but feel vulnerable to the changes ahead, at least stock up with some basic food and water supplies, a first aid kit, torches and make copies of all your important documents. Think of it as taking out insurance – be prepared for the worst and hope for the best.
For more information download Goldsmith’s FREE Ebook:
Getting Rich While The Rest Of The World Falls Apart
Or buy Handbook For Surviving The Global Financial Crisis which is available on Amazon, Lulu and www.financemoneybusiness.com
Saturday, January 1, 2011
Friday, December 17, 2010
Wikileaks - does it affect you?
In November 2008 I predicted that we would see greater transparency in our governments, banks, corporations and that information and secrets that had been withheld would be revealed. And just two years later, that prediction has come true. Just look at Wikileaks that has come along and threatened the security of many countries as they reveal information about businesses and governments around the world. And they have only just got started…
This weekend, Amazon Europe went down for over half and hour. Amazon said that it was a hardware issue, but was it really? After all, Amazon was among the first US firms to pull the plug on WikiLeaks since it began publishing thousands of US diplomatic cables, withdrawing hosting services last week after being questioned by the US Senate Homeland Security Committee.
Julian Assange has just been released on bail of £240,000 and he stated that he plans to continue with WikiLeaks and with releasing sensitive information. Many countries want to see him killed as they see him as such a threat. Right now there are over 3000 hackers from around the world who have joined his cause. Probably more are signing up all the time. They have pledged to ruin Mastercard, Visa, Paypal, Amazon and any company that has rejected hosting their services. They are gathering momentum and this is just the beginning. What’s interesting is that they are so concerned with transparency and yet they are called the Anonymous Group and they themselves hide behind screen names. They are not transparent themselves.
The latest news is that one of Assange’s top men has split with him and started his own organisation called OpenLeaks. This organisation is going to feed bits of information to the media in dribs and drabs and then let the media do what they want with it. This then gets them off the hook and takes them away from the direct line of fire. We don’t know the power of these groups, but one sure thing is that they are just starting up. There is certainly much more to come.
We’ve had the riots in Greece, Ireland and the latest in the UK. The spontaneous attack on the Prince Charles and Camilla shows the degree of rage of the people against the ruling classes. The banks have had billions of dollars of bailout funds, yet they continue to post huge profits and give their management enormous bonuses, while the people are left with austerity measures, losing their homes, their money, their jobs…..is it any wonder that they are resorting to rioting at the injustice of it all? We are going to see many more revolts and uprisings round the globe.
Although you are seeing in play out in government, you will also see it play out in your personal life. What should you watch out for?
Be careful about what you share and with whom – whether it’s information, material goods, contact, anything. Be aware of what you post on social networking sites – that’s where transparency and security are really at risk. Don’t tell everyone that you are going away on such and such a day – chances are you will have a robbery when you get back.
If you do internet banking – check it out. Is it really safe? Not only your money, but how about your identity?
We are all vulnerable in one way or another.
Be careful of your privacy
Be aware of your security
Be observant
Don’t move too quickly as to what is being said to you
Guard what you say and to whom
All your private details should be kept secret. Anything that you have always felt very secure about will feel as if the rug is being pulled out from under you. Stay vigilant and don’t take anything for granted.
This weekend, Amazon Europe went down for over half and hour. Amazon said that it was a hardware issue, but was it really? After all, Amazon was among the first US firms to pull the plug on WikiLeaks since it began publishing thousands of US diplomatic cables, withdrawing hosting services last week after being questioned by the US Senate Homeland Security Committee.
Julian Assange has just been released on bail of £240,000 and he stated that he plans to continue with WikiLeaks and with releasing sensitive information. Many countries want to see him killed as they see him as such a threat. Right now there are over 3000 hackers from around the world who have joined his cause. Probably more are signing up all the time. They have pledged to ruin Mastercard, Visa, Paypal, Amazon and any company that has rejected hosting their services. They are gathering momentum and this is just the beginning. What’s interesting is that they are so concerned with transparency and yet they are called the Anonymous Group and they themselves hide behind screen names. They are not transparent themselves.
The latest news is that one of Assange’s top men has split with him and started his own organisation called OpenLeaks. This organisation is going to feed bits of information to the media in dribs and drabs and then let the media do what they want with it. This then gets them off the hook and takes them away from the direct line of fire. We don’t know the power of these groups, but one sure thing is that they are just starting up. There is certainly much more to come.
We’ve had the riots in Greece, Ireland and the latest in the UK. The spontaneous attack on the Prince Charles and Camilla shows the degree of rage of the people against the ruling classes. The banks have had billions of dollars of bailout funds, yet they continue to post huge profits and give their management enormous bonuses, while the people are left with austerity measures, losing their homes, their money, their jobs…..is it any wonder that they are resorting to rioting at the injustice of it all? We are going to see many more revolts and uprisings round the globe.
Although you are seeing in play out in government, you will also see it play out in your personal life. What should you watch out for?
Be careful about what you share and with whom – whether it’s information, material goods, contact, anything. Be aware of what you post on social networking sites – that’s where transparency and security are really at risk. Don’t tell everyone that you are going away on such and such a day – chances are you will have a robbery when you get back.
If you do internet banking – check it out. Is it really safe? Not only your money, but how about your identity?
We are all vulnerable in one way or another.
Be careful of your privacy
Be aware of your security
Be observant
Don’t move too quickly as to what is being said to you
Guard what you say and to whom
All your private details should be kept secret. Anything that you have always felt very secure about will feel as if the rug is being pulled out from under you. Stay vigilant and don’t take anything for granted.
Sunday, November 7, 2010
Gold to $2000 and silver to $50 Soon!!
The Federal Reserve is now onto QE2 and printing more and more money. There are consequences to each and every action and surely this will result in inflation down the line. Inflation has been described as a “painless” method through which a country devalues its currency. It’s like turning on the car in your garage and letting the carbon monoxide slowly put you to sleep. In most western countries the public is being dumbed down by the government run public schools. They count on the fact that 9 out of 10 people don’t understand what inflation means. It is an insidious way of robbing people of their hard-earned money and transferring it to the very rich people.
This is going to mean less money for pensioners and people who are conservatively saving their money, and more profit opportunities for the financial industry. As the saying goes: “the rich get richer and the poor get poorer” and that is certainly what we are seeing around the world.
As the work dries up, people can no longer find permanent employment, they need to rely on temporary work, maybe having two or three part time jobs, or contract work just to make ends meet. It can be harrowing for families who are just trying to survive in the current economic climate. But what they don’t realise is that the powers that be are making the situation even worse through their actions.
In the US, for example, they allowed the FASB to turn a blind eye to the actual values of the banks’ assets and let them value their assets at ridiculous prices that would never fetch those amounts if they were actually to sell them. And secondly the government stood behind Fannie Mae and Freddie Mac and this as resulted in over $1.5 trillion in debt obligations of these insolvent companies.
The situation is getting worse not better.
If you haven’t already done so, consider getting yourself some gold and silver bullion. Whilst the prices may look high, in the months and years today’s prices will look extremely inexpensive. So while you are still able to buy precious metals and have them in your possession, go ahead and do it. Don’t be kicking yourself saying that you wish you would have bought some sooner.
In my opinion as I said several years ago, we will see gold at $2000 an ounce and silver at $50 an ounce in the not too distant future.
This is going to mean less money for pensioners and people who are conservatively saving their money, and more profit opportunities for the financial industry. As the saying goes: “the rich get richer and the poor get poorer” and that is certainly what we are seeing around the world.
As the work dries up, people can no longer find permanent employment, they need to rely on temporary work, maybe having two or three part time jobs, or contract work just to make ends meet. It can be harrowing for families who are just trying to survive in the current economic climate. But what they don’t realise is that the powers that be are making the situation even worse through their actions.
In the US, for example, they allowed the FASB to turn a blind eye to the actual values of the banks’ assets and let them value their assets at ridiculous prices that would never fetch those amounts if they were actually to sell them. And secondly the government stood behind Fannie Mae and Freddie Mac and this as resulted in over $1.5 trillion in debt obligations of these insolvent companies.
The situation is getting worse not better.
If you haven’t already done so, consider getting yourself some gold and silver bullion. Whilst the prices may look high, in the months and years today’s prices will look extremely inexpensive. So while you are still able to buy precious metals and have them in your possession, go ahead and do it. Don’t be kicking yourself saying that you wish you would have bought some sooner.
In my opinion as I said several years ago, we will see gold at $2000 an ounce and silver at $50 an ounce in the not too distant future.
Friday, October 8, 2010
Financial Predictions 2010-2011
Many of you will remember the financial predictions I made a couple of years ago. My first prediction was for gold to be going to $1500 – when it was just under $800 in October 2008. When it got to $1000 an ounce everyone said it would not be sustainable and it would surely drop. Then when it got above $1100 an ounce, everyone said that was impossible – and then it hit $1200 an ounce – and today it’s at $1345 an ounce on October 7th 2010 – just two years later!!
One of the theories about gold is that it holds its value over time. Indeed it is said that in King Nebuchadnezzar’s time an ounce of gold was worth 350 loaves of bread and depending on the unit of measurement that was used at that time, and the unit of measurement that we use today, that same ounce of gold might still be worth 350 loaves of bread. If we use the current price of gold against the current price of a loaf of bread – so for example an ounce of gold at the time of this writing is $1345 an ounce and the price of bread is about $3.85 a loaf, thus showing that the purchasing power of gold has not diminished since biblical times.
I predict that gold will go to $1650 within the next few months and within 2011 don’t be shocked when it goes to $2000. That’s my prediction for gold in the next 15 months.
Do you remember when I predicted that silver would go up tremendously in value when at the time it was only $12.00 an ounce. Today it is almost double that amount – only 2 years later at nearly $23.00 an ounce. I am predicting that within the next 14 months it will go to at least $37.50 - $45.50 an ounce.
Silver is used in so many different applications: the technology industry, computers, medical advancement and equipment and its uses continue to grow so the price of silver is likely to increase.
People will try to get you to invest in gold and silver funds or mining stocks. DON’T DO IT! Make sure you are in possession of your gold and silver coins. I am predicting that most of those mines will eventually play out and you will be left with paper that’s not worth anything at all.
I’m going to make another prediction – as many of you know, I used to own a very successful property investment business. When everyone said that the real estate market in the UK was going to collapse, I had faith it would not and during those years I was right and the real estate market did not collapse and my properties increased a great deal in value. The properties that my clients bought increased substantially in value.
So I am making another prediction: As we have already seen, real estate has taken a tremendous nosedive – and if you are thinking of investing in the deflated property market and getting a wonderful bargain now – my prediction is that within the next 15 to 24 months the market will topple another 10-20% below what it is now.
As I have told my clients, don’t buy that house you have got your eye on as an investment or you will lose money. Only buy that particular property if you intend to live in it. Then if the market drops, you won’t be relying on it for investment returns and you will be able to ride out the dips.
Diamonds will always be a good investment. Precious metals will go up and down but essentially they will still be a good investment. During the time that they go down in price, if you can afford to hold onto them, do so – because my prediction is that they will always retain their value just not necessarily at the time that you think that they should.
Anything that has to do with survival will be a good investment. Anything that has to do with health care will be a good investment. Anything that has to do with sustainable energy will be a good investment. If I had room on my back lawn I would put up a windmill to generate electricity. Anything that has to do with solar energy will be a good investment.
And just like playing poker – you have to know when to hold em and when to fold em!
In speaking of survival – don’t forget to buy my book on Surviving the Global Financial Crisis – you can get it as a download or you can buy it from http://www.amazon.com or on my website http://financemoneybusiness.com. It’s a small book chockfull of big ideas on how to survive and thrive in the upcoming changes.
One of the theories about gold is that it holds its value over time. Indeed it is said that in King Nebuchadnezzar’s time an ounce of gold was worth 350 loaves of bread and depending on the unit of measurement that was used at that time, and the unit of measurement that we use today, that same ounce of gold might still be worth 350 loaves of bread. If we use the current price of gold against the current price of a loaf of bread – so for example an ounce of gold at the time of this writing is $1345 an ounce and the price of bread is about $3.85 a loaf, thus showing that the purchasing power of gold has not diminished since biblical times.
I predict that gold will go to $1650 within the next few months and within 2011 don’t be shocked when it goes to $2000. That’s my prediction for gold in the next 15 months.
Do you remember when I predicted that silver would go up tremendously in value when at the time it was only $12.00 an ounce. Today it is almost double that amount – only 2 years later at nearly $23.00 an ounce. I am predicting that within the next 14 months it will go to at least $37.50 - $45.50 an ounce.
Silver is used in so many different applications: the technology industry, computers, medical advancement and equipment and its uses continue to grow so the price of silver is likely to increase.
People will try to get you to invest in gold and silver funds or mining stocks. DON’T DO IT! Make sure you are in possession of your gold and silver coins. I am predicting that most of those mines will eventually play out and you will be left with paper that’s not worth anything at all.
I’m going to make another prediction – as many of you know, I used to own a very successful property investment business. When everyone said that the real estate market in the UK was going to collapse, I had faith it would not and during those years I was right and the real estate market did not collapse and my properties increased a great deal in value. The properties that my clients bought increased substantially in value.
So I am making another prediction: As we have already seen, real estate has taken a tremendous nosedive – and if you are thinking of investing in the deflated property market and getting a wonderful bargain now – my prediction is that within the next 15 to 24 months the market will topple another 10-20% below what it is now.
As I have told my clients, don’t buy that house you have got your eye on as an investment or you will lose money. Only buy that particular property if you intend to live in it. Then if the market drops, you won’t be relying on it for investment returns and you will be able to ride out the dips.
Diamonds will always be a good investment. Precious metals will go up and down but essentially they will still be a good investment. During the time that they go down in price, if you can afford to hold onto them, do so – because my prediction is that they will always retain their value just not necessarily at the time that you think that they should.
Anything that has to do with survival will be a good investment. Anything that has to do with health care will be a good investment. Anything that has to do with sustainable energy will be a good investment. If I had room on my back lawn I would put up a windmill to generate electricity. Anything that has to do with solar energy will be a good investment.
And just like playing poker – you have to know when to hold em and when to fold em!
In speaking of survival – don’t forget to buy my book on Surviving the Global Financial Crisis – you can get it as a download or you can buy it from http://www.amazon.com or on my website http://financemoneybusiness.com. It’s a small book chockfull of big ideas on how to survive and thrive in the upcoming changes.
Tuesday, October 5, 2010
Gold going higher and higher!! Don't miss the boat!
Gold going higher and higher – don’t miss the boat!!
Today gold is at USD$1340 an ounce and rising…….silver is at USD$22.80 and rising…..of course nothing goes up in a straight line and there may be dips and bumps along the way, however, you can be sure that gold will go over $1500 an ounce very soon. For those of you who are unaware of this one of the triggers for precious metals going higher in the not too distant future is the revelation that mortgage fraud is huge in the US and it is just being unraveled. It turns out that many banks do not have the proper title to the homes on which they are foreclosing and therefore they lack the legal right to foreclose. In a nutshell, the subprime lenders, trusts and banks did not keep good records and in two states there are now civil class action suits against them. This latest public information is yet another reason for the gold bull run we will see in the coming months.
Hold on tight, put your seatbelts on and get ready for the turbo charge!!
http://www.financemoneybusiness.com
Today gold is at USD$1340 an ounce and rising…….silver is at USD$22.80 and rising…..of course nothing goes up in a straight line and there may be dips and bumps along the way, however, you can be sure that gold will go over $1500 an ounce very soon. For those of you who are unaware of this one of the triggers for precious metals going higher in the not too distant future is the revelation that mortgage fraud is huge in the US and it is just being unraveled. It turns out that many banks do not have the proper title to the homes on which they are foreclosing and therefore they lack the legal right to foreclose. In a nutshell, the subprime lenders, trusts and banks did not keep good records and in two states there are now civil class action suits against them. This latest public information is yet another reason for the gold bull run we will see in the coming months.
Hold on tight, put your seatbelts on and get ready for the turbo charge!!
http://www.financemoneybusiness.com
Friday, September 17, 2010
Gold reaches new highs
The price of gold went over USD$1284 this week and this trend it set to continue. What are the reasons for this? It’s very likely that during the rest of 2010 we will see a worsening of the crisis. Billions upon billions of dollars have been swallowed up by the banks, billions and billions of dollars have been pumped into the economy to no avail. Unemployment hasn’t stopped growing, the US housing market remains depressed at historically low levels and one in five Americans is out of work. In the press this week there were reports that one in seven Americans is on the poverty line. This does not bode well. I think we are building up to a very dangerous time in the world economic and financial system.
Two years ago and repeatedly since then I have recommended that you put a good portion of your fiat money into gold and silver bullion and those that have heeded this advice have done very well so far. However, for those of you who think that gold is already much too high, think again. Yes, of course, like any precious metal it is volatile and it could go down to the $1100’s again, but it will surely rise again like the phoenix out of the ashes. So for those of you who are still on the fence, try to make a decision quickly as gold will go to $1500 and beyond within the next 6-9 months.
Two years ago and repeatedly since then I have recommended that you put a good portion of your fiat money into gold and silver bullion and those that have heeded this advice have done very well so far. However, for those of you who think that gold is already much too high, think again. Yes, of course, like any precious metal it is volatile and it could go down to the $1100’s again, but it will surely rise again like the phoenix out of the ashes. So for those of you who are still on the fence, try to make a decision quickly as gold will go to $1500 and beyond within the next 6-9 months.
Thursday, July 22, 2010
Could Gold Get Confiscated Again?
Another invasive law has passed in the US which states that any payments to a vendor of more than USD$600 will have to be reported to the IRS. I am anticipating that more and more material about this law will start appearing on the internet and in the press. This law will affect virtually everyone in the US who has business to business dealings. It could well lay the groundwork for a VAT tax similar to that in the UK and Europe or GST in NZ. This law could reignite fears that the US government could confiscate gold. This would make the government aware of its citizens gold transactions and make it more prone to confiscation.
Traditionally, precious metals dealing have provided a last haven of non-reportable financial transactions. With this current legislation, the status of gold and silver as an anonymous purchase is breached.
What can you do about it if you are a US citizen and you still want to buy gold and silver?
1. Use dips in the gold price to top off your portfolio before the 2012 proposed implementation date of this law
2. Document your purchases so that, should you ever be dragged in to explain the source of funds you used to buy your gold in a subsequent sale, once the regulation is in place, you are ready with the answer
3. Consider opening a safety deposit box at a reputable Canadian bank, then make occasional gold buying/storage trips up north or if you have relatives or friends in other countries, consider having them buy and store your gold for you.
My advice is that no matter where you live, you need to be aware of new legislation that could affect the safety of your ownership of precious metals. As our monetary system worsens, governments will be looking for all kinds of sneaky ways in which they can rob us of our wealth.
If you would like a personal consultation about how to protect your wealth during these uncertain times, please don't hesitate to get in touch: www.financemoneybusiness.com
Traditionally, precious metals dealing have provided a last haven of non-reportable financial transactions. With this current legislation, the status of gold and silver as an anonymous purchase is breached.
What can you do about it if you are a US citizen and you still want to buy gold and silver?
1. Use dips in the gold price to top off your portfolio before the 2012 proposed implementation date of this law
2. Document your purchases so that, should you ever be dragged in to explain the source of funds you used to buy your gold in a subsequent sale, once the regulation is in place, you are ready with the answer
3. Consider opening a safety deposit box at a reputable Canadian bank, then make occasional gold buying/storage trips up north or if you have relatives or friends in other countries, consider having them buy and store your gold for you.
My advice is that no matter where you live, you need to be aware of new legislation that could affect the safety of your ownership of precious metals. As our monetary system worsens, governments will be looking for all kinds of sneaky ways in which they can rob us of our wealth.
If you would like a personal consultation about how to protect your wealth during these uncertain times, please don't hesitate to get in touch: www.financemoneybusiness.com
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