Just some random thoughts today

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Gregory Isaacs Dies at 59

Gregory Isaacs lost his battle to cancer today in London.  He was 59.

I’m sorry, I was never a real big fan of Isaacs and the only song that I considered worth while listening to was Night Nurse.

But to some, GregoryIsaacs will be a pillar missed in the Reggae community.  Gregory Isaacs, dead at 59, RIP.

State Court Expected to Overturn Prop 8 Same Sex Marriage

The San Francisco Chronicle reported today:

The California state Supreme Court will rule Tuesday on a challenge to Proposition 8, the ballot measure that reinstated California’s ban on same-sex marriage.

I predicted back in November:

that Proposition 8 will be overturned as unconstitutional by the same courts that ruled in favor of gay marriage in the first place.

California courts are known to overturn liberal bills and amendments such as Prop. 8 even though the people have passed the new law in general elections.

I’m fairly certain that my prediction will come true and all people will have the same protection regardless of race, religion or sexual preference.

Gold Off Recent High

Gold has been dropping like a “gold brick” in the past week and is retracting from a recent high of $1000 per ounce.  This perhaps is a good buying opportunity before it shoots up again.

The only problem is that gold is scarce but I keep calling all the local dealers to see if someone is selling.  Usually on dips, the dips sell and the smart people buy.  Hopefully a few dips will sell their gold tomorrow.

One dealer just got in a 1000 oz. bar of silver.  It was hard to believe that this silver brick was nearly 63 lbs.  He wanted about 14k for it.  Now if it was gold and I had a spare $939,000, I would have bought it.

Gold Closed Today at $1,001.80

My prediction that gold would hit $1,000 per ounce by the end of March came a little early when gold closed today at $1,001.80.

It took nearly 6 months after the 2008 financial panic that gold is finally is starting to glitter.  I was surprised that the price was held so low since the demand for the precious metal is so high.

I still find it hard to purchase gold sovergns, eagles or any other types of coins and must result to carrying large sums of money in the chance the I can find any dealer in town that has a supply I can buy.

How high will go is anyone’s guess. But with this unrelentless printing of fiat money, it will only go higher.  My guess is that once Congress decides on another trillion dollar deficit 2009 budget — which is 6 months late — gold is going way up.

Congress Should Drink Lean One Shakes to Reduce Deficit

Congress needs to go on a diet to reduce deficit spending.  Perhaps they should drink lean one shakes like Sarah Palin did to drop 4 dress sizes.

Just imagine if our deficit was only 1/4 the size of what it currently is, we could go on a shopping spree to rebuild this country and get off oil dependence once and for all.

Yes, Congress needs to go on a diet, and lean one may be our only hope.

When Will Gold Hit $1000? Soon.

I predict that gold will hit $1000 mark by the end of March 2009.  I’m so confident that the dollar is dying with all this deficit and reckless spending by our Government, that Gold may be our last resort to preserving our wealth.

There may be some resistence to pass the $1000 mark, but 2T in bailout money — that does nothing to solve the bankrupt banking system — will serve nothing more as a catalyst for higher prices.

Gold $900 Oz

Gold pushed upward to $899.10/oz today!  I’m sure it’s heading much higher once everyone figures out that paper money isn’t back by anything but a bunch of politicians full of hot air…

IMO, gold is heading upwards.  How high nobody knows but some gold prognosticators think it’s heading to $5000 an ounce.  Perhaps this will happen when start calling this economic collapse the “Great Great Depression.”

I bought two Krugerrands this week at $858/oz so I’m a little ahead for this week.  Now I’m not really looking at gold as an investment, but as a hedge to preserve wealth when the USD dies with a loud hissing sound.  But it’s good to know that the gold I got for $800/oz last November is worth more than I paid for.

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