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Friday, June 11, 2010

Letter From A Millionaire - Market Direction

"I agree that Gold Line is probably ripping off customers. The Gold industry is rife with rip-off's and Gold Line is just one among many and so I disagree that Gold Line should be singled out. If they want to be honest, criticize the entire industry.

I also disagree that Glen Beck is responsible. His network FOX sells the advertising time, Gold Line is FOX's customer not Becks. GB does not have the authority at FOX to accept or decline Gold Lines advertisement dollars. I believe this is an effort to cut off Beck's advertising sponsorship in order to shut him up.

Finally, gold is close to its final top and I expect it to then drop into the mid $600's. When this happens, expect more heat on GB. GB believes we are heading into hyper inflation and gold would be the solution if that were the problem. Unfortunately, he is wrong. If we get hyperinflation, it will be a couple of years from now. We are heading into deflation which will not be kind to gold, silver, real estate or stocks for that matter. In fact we are heading into the GREATER DEPRESSION, one that will make the 1930's seem mild by comparison. This should be apparent to everybody by this time next year."


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