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xzorro | 06-04-2004 05:08 AM
Daily Reckoning/Agora now Bullish on Silver Dear Investor, Here at the Daily Reckoning, we constantly strive to find the next newest and brightest investments. The good news is that we can't find any! That's because the best investments, in our opinion, are the oldest. Truth is, persistent monetary irresponsibility in Washington, will likely help gold and silver outperform almost all other asset classes for the next decade. Sceptical? You should be...we've only been learning about monetary mechanics for twenty years. Below you'll discover why these solid assets have been outperforming their paper counterparts for centuries... Regards, Addison Wiggin, The Daily Reckoning ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The Metal That Will Make You Rich On the 12th of March the British magazine MoneyWeek ran a cover story entitled: 'The metal that will make you rich.' The metal was silver. And the article explained how the two metals - gold and silver - have made thousands of people very, very rich in the past... and how understanding the relationship between the two could make you rich, too, in the months ahead. While many have gotten rich, many more have used the two metals merely to protect their wealth -- and even their lives -- in dangerous, restless periods in history. And once again, the world seems to have entered one of those periods... an era when the world's stability, safety, and the value of its money are all called into question. Think about this: if U.S. dollars continue to lose their value (as measured in gold or silver) at the same rate as over the last two years... ...in 10 years time, the dollar may no longer exist. And now think about this: the two metals do not move together. Still, they are linked. One usually signals -- far in advance -- what the other might do. Understanding that link could be the key to immense profits... to financial security... even to being able to forecast the major fi! nancial trends that will affect you and your family. Of course, I would like to give you the quick answer: here's how it works... here's what's coming... here's what you should do. If only it were that easy! The answer is not necessarily quick or easy... but it is far more interesting... and far more rewarding than anything I could tell you in this letter. And you can have access to it in the new comprehensive collection, The History of Gold and Silver. Once again, London-based Pickering & Chatto makes publishing history by collecting the most important historical documents and creating a stunning overview of timeless subjects in this case, gold and silver, and the relationship between the two precious metals. For lovers of the printed word, here is an investment secret you can profit from for generations. Own it. Enjoy it. Learn from it. Use it as your personal guide to secure great wealth and a far deeper understanding of money, trade and value than you've ever experienced before... The History of Gold and Silver Dear Friend and Reader, The 21st century has brought nothing but bad news for the dollar. We are four years into it and still, nothing on the horizon indicates an improvement for the de facto world currency. How disappointing it would be for most Americans... if they understood what this means to their wealth, retirement ... and perhaps most importantly... their family and freedom, but most remain oblivious to the diminishing value of their paychecks, investments, and retirement plans. Fortunately for the politicians and central bankers, most Americans are clueless to the fact that they are being robbed blind as their currency is devalued. In March 2000, as the Great American Stock Market Bubble burst, headlines were made from Alaska to Florida and from Moscow to Tokyo. Eight trillion dollars of paper gains evaporated. A public outcry was heard at home f! rom sea to shining sea. But there is no similar cry of pain regarding the plunge of the Greenback... even though all Americans bear the burden, not only stock market investors. One hundred years ago, by contrast, Presidents, bankers, economists, and philosophers respected gold and silver - not just because it was currency - but also because it protected America's wealth and freedom... and limited the power of governments to debase the currency at the expense of their citizens. The History of Gold and Silver presents a foundation for understanding the relationship between real value, paper money, international trade, building wealth and securing freedom. It is essential reading for those who want to be well informed. Not in the sense of what is the burning issue in today's headline, but in the terms of understanding the world and how it works. I have found that you can better determine the course of future events by studying history than by devouring newspapers. The trials and tribulations of Martha Stewart, Michael and Janet Jackson or even George W. Bush shed little light on the most important issues that will affect where we will find ourselves 10, 20 or 30 years down the road. Writers whose works have stood the test of time and whose insights have enlightened generations before us offer much more to the intelligent reader today than most journalists or best-selling authors, myself included, could ever hope to achieve. Seven Centuries of Treasured Economic Wisdom in Three Volumes Silver's history is perhaps richer than gold. Both have served as a means of exchange and store of value for as long as people have been recording history. The first reference to gold that I am aware of is in the second chapter of the book of Genesis, where it is recorded that in the Garden of Eden flowed a river that separated into four headwaters. One of those, the river 'Pishon winds through the entire land of Havilah! , where there is gold. The gold of that land is good...' I find some comfort in the declaration that God considers gold 'good.' I am happy that we share that conviction. The first mention of silver comes several chapters later. Abram, equally revered by Christians, Jews, and Muslims, left Egypt with his wife, all of his possessions, and his nephew Lot. The author reports that Abram had become 'very wealthy in livestock and in silver and gold.' I've tried my hand at livestock, raising dairy goats in southern Maryland. I never made much money from them... but the cheese was good. My wife keeps horses, which have cost me more than I ever made from the goat operation. Gold on the other hand has been quite good to me as an investment... especially in the last few years. While the value of the money I have in dollars in the bank have fallen drastically... the gold I have on hand has increased by much more. I have little affection for paper money, dollars, euros or treasury notes. But real money, gold and silver, are another matter all together. (You might be interested to know, although the French franc has been replaced by the euro, the French word for money, argent, is the word for silver. The same is true for Spanish and Italian. Silver is money.) Silver's Golden Era? I write about gold often in The Daily Reckoning. You can easily find my recent musings on the Midas Metal. I'm bullish on gold. But I don't write much about silver and this book stirred my interest. There's a powerful case to be made for silver today. The silver story differs from the case for gold. Because of its durability, almost every single ounce of gold that has ever been mined is still in circulation today. But not so with silver. Silver supplies are being used by industry and medicine at a far faster rate than it is being produced. Gold is a store of value and prized for jewelry and decorative arts. Silver, although revered as mon! ey, is a lso a precious industrial commodity. Over 90% of all the silver mined in the past 5,000 years has been used up by industry and is gone forever. Silver is disappearing... at least what's above ground. According to James Cook, a respected silver analyst, 'Each year, the silver supply falls 200 million ounces, or about 25% short of industrial demand... Shockingly enough, all of the known and recorded silver in commodity warehouses and elsewhere comes to only 150 million ounces. Industry requires almost 900 million ounces a year. Something has to give.' Maybe that's why the world's most successful investor, Warren Buffet, is also the largest acknowledged holder of silver in the world? When he bought silver he told his shareholders, 'In recent years, bullion inventories have fallen materially, and last summer Charlie and I concluded that a higher price would be needed to establish equilibrium between supply and demand. Inflation expectations, it should be noted, play no part in our calculation of silver's value.' Nothing has changed since then... except that silver is still rising in price. In the December 2003 Forbes, respected analyst James Grant made a powerful case for silver going to $49... Seven times the current price! But these tomes give you something even more important... The big historical picture. To learn more about this important set of books... click here. http://www.agora-inc.com/reports/905SHGS/history513/

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