Reply With Quote
should have bought it a year ago or more
EDIT: make that "several years ago..."
Northwestern Mutual Makes First Gold Buy in 152 Years
By Andrew Frye
June 1 (Bloomberg) -- Northwestern Mutual Life Insurance Co., the third-largest U.S. life insurer by 2008 sales, has bought gold for the first time the company’s 152-year history to hedge against further asset declines.
“Gold just seems to make sense; it’s a store of value,” Chief Executive Officer Edward Zore said in an interview following his comments at a conference hosted by Standard & Poor’s in Brooklyn. “In the Depression, gold did very, very well.”
Northwestern Mutual has ac ulated about $400 million in gold, and Zore said the price could double or even rise fivefold if the economy continues to weaken. Gold gained 10 percent last month, the most since November. The commodity has more than tripled since 2000, rising for eight straight years. Gold futures for August delivery slipped $4.80 to $975.50 at 4:03 p.m. in New York.
“The downside risk is limited, but the upside is large,” Zore said. “We have stocks in our portfolio that lost 95 percent.” Gold “is not going down to $90.”
Policyholder-owned Northwestern Mutual, based in Milwaukee, ranks third by 2008 life insurance premiums according to data from the National Association of Insurance Commissioners. The data excludes annuities.
-------------------------------------------------------------------------
sniffffffffffffffffff. what's that i smell?
inflation
should have bought it a year ago or more
EDIT: make that "several years ago..."
Last edited by Bender; 06-02-2009 at 04:02 PM.
Well, that pretty much guarantees gold will go up.
Good move.
Wouldn't it feel funny if the Gold Market bubble burst now?
I don't see its happening now. Investors are too skittish and the other markets too volatile. A lot of Glenn Beck listeners might hold onto it for too long after the economy finally recovers though.
MN will be on his tiptoes seeing if he can hold off the wave until after 2012.
I don't see it happening for a year at lest myself. However, gold is heavier than a rock, and it will fall like a rock when the bubble bursts.
Keep in mind, that the gold and silver is now artificially high. I say that because the numbers aren't tracking with Platinum and Palladium. Gold and silver are being 'hyped.' Gold and Silver are more than double what they were 5 years ago, but platinum is about right for normal inflation, and palladium is only slightly higher. Each of these are supply and demand based. My belief is that gold is now priced at 150% or more of it's real value.
From KITCO Inc:
No . Glenn Beck is pimping it nonstop.Gold and silver are being 'hyped.'
Well, I don't care for him so much. He's making money for advertising it, and may believe the hype himself. I wish him and other conservatives wouldn't market it. I am rather sure it will embarrass them in the future. I see it as falling in the near future, and those not quick enough to get out in time, may take huge losses.
i'm no financial expert, but wouldn't the gold's value stay up being that the dollar is tanking and not really looking like it will be to where it once was in the near future? that's a legit question, by the way.
I agree. The temptation to inflate our way out of our structural debt situation might be hard to resist, since the alternative is slashing benefits and raising taxes to pay for it.
That depends. I don't really understand the international monetary market myself. There are several reasons why the exchange rates have only tanked as little as they have. If the international en ies that have stopped the dollar from tanking more, can continue to do so, then gold is long past it's peak price.
There is a vested interest in the nations that hold our debt, and the nations that sell to us, not to let the dollar slip. As the value of the dollar falls, the debt they hold is devalued to their currency. Manufacturers find it harder to compete in the US market as their effective price increases.
Myself, I with the dollar did continue to fall, and gold continued to rise. I want to see the US manufacturing jobs grow and grow and grow.
that would be crazy if we were actually doing that. honestly, i wouldn't put it past any of those jackasses in washington. they only look out for their ass. i know i'm going to get the "oh conservative this. conservative that" type response to this, but obama's appearance on conan(or CoCo) convinced me that all he cares about is appearance and persona. that dude is still campaigning. they report on where he eats. where he takes his wife out on dates. the silly dog. his sports predictions, yada yada, and not a single word gets blurbed about it before it airs?..................... we have newspapers nearly giving away our war strategy in iraq when we weren't doing all that great before they even carried it out and not a single blurb about the president's appearance on the tonight show? the second day of the new tonight show? his leno was announced.......all i have to ask is, why? why no blurb about it? .................the answer really isn't important. not important at all. no, i didn't get this from fox or any silly right wing blog. i saw what i needed to see. yeah, as you can tell it did create a stir in me, but according to "everyone"......... i "lost" ....................and should just go along with it. non-contesting. and be swooned...............i hope that man just believes in what he's doing. that's all i ask of him.
What the was that?
Gold is already manipulated mega big time by the banks to keep it low even with all of the inflationary pressure Bernake is introducing slowly but surely.
Add that with all the unpredictable political fiscal policies of different the US and foreign countries and you can never be sure what is going to happen to it.
All the economic sign may look like it should go up, but certain players can make damn sure it defies logic.
^that's what I've heard as well.
Alex Jones, Rush, Beck, all the conservative voices pimp gold like a 2 dolla .
Preying on the sky is fallin' bubbas.
The US is too big to fail.
Too big = Fail
Government, that is.
From what I heard today in the news, I don't think it can be kept down. I think all precious metals will rise again. The dollar has dropped four days in a row now, to other currencies.
OK, changing my mind... Buy Gold!
This much I know. Compare the gold prices of past and present to currency rates. they should be very similar, ratio wise. If not, gold is likely over valued.
What happens when the Chinese decide it isn't?
Gold isn't overvalued but may still go down because they're selling gold that doesn't exist. They've been doing it for years. The problem is outside of the banks that sell it, no one knows exactly how much gold is out there, and until supply is limited, gold as a commodity won't rise that much.
But yea I've read a couple of things today that say the scheme may be beginning to unravel. Dunno. Never underestimate the power of insiders to screw you over.
Beck pimps gold and silver? Chalk up another parallel between him and Alex Jones...
If that's true, it's an illegal Ponzi scheme!
wow. if that is true then we're going to be someone's real soon, if not, even more of being someone's . they should just start handing out the jonestown kool-aid right now if it's true.................................. just imagine.
Its just like the normal banking system, as long as everyone doesn't demand to see their 'gold' all at once everything is rosy.
If they audited all the banks that hold all the 'gold' tomorrow (which they'll never ever do) we'd be in a world of hurt.
Here's a link
http://seekingalpha.com/article/9135...silver-markets
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
