With some of the “Mind Boggling” numbers coming out of the United States, the mess in Europe and a Sovereign Debt Crisis on the horizon, Michael Campbell decided to ask what the legendary James Dines had to say about current conditions. Ed Note: You can also listen to the 43 minute exclusive interview between James& Mike right below if you prefer:
James Dines: Q3 and the declaration that they are going to print money without limit primed the pump in my opinion and I’m now looking for a resumption of the Super Major Bull Market that I’ve been looking for since my major buy signal 11 years ago on September 25th, 2001. Gold has been up every single year for the last 11 years and there has been no other investment area that’s done as well. It is important to understand that with all this money being printed, Gold has no price. Gold is money. In each country it will sell for a different number of pieces of paper based on the amount that they print. In my interim bulletin of August 22nd/ 2012, I said I was looking for Gold and Silver to challenge their all-time highs, which means at least $1,900 for Gold and $50 for Silver. My initial target on Silver is $120 an ounce if they continue to print all that paper.
The problem is that there is no safety in this environment and its Delusionary to think that there is. When the currency itself is corrupt were can you hide. Maybe the only really safe place would be Gold and Silver on pullbacks because a coin of them made back even in Caesars time is still good anywhere in the World today. I think everyone should put a small amount of money into some Gold coins and put them, never on your person or near your residence, but in a bank or safety deposit box and preferably in more than one country. If you have more money than a small amount you can buy stocks also on pullbacks. They’ve had a big jump here and I am looking for a bit of a pullback before the next upwave.
About James Dines:
James Dines has become legendary for having made correct forecasts that were in complete contradiction to the rest of the financial community.
In an industry where it takes courage and conviction to go against the crowd, Mr Dines defiantly warned investors of the “invisible crash” that would bring down stocks in 1966, the unexpected gold boom of 1974, the Internet revolution of 1996, and the market top in 2000, a 2001 call for a Super Major Bull Market in Gold. Now he warns of “The Coming Uranium Boom” that is steadily approaching.
His subscribers to The Dines Letter have profited so much that subscriptions are handed down to second generations. – read more HERE