Just heard investor Jonathon Hoenig, that calls himself "the capitalist pig" say two things. One, silver is on the rise big time because its affordable, whereas gold is no longer. I used to know a guy that took hi wife and two kids on a two week family vacation to like Florida, California, wherever from Indiana, financed entirely from silver that he'd pick up from garage sales beginning about a month before vacation. He'd start searching for silver about a month before vacation, and...every year. So per Jonathan Hoenig, silver is a great place to begin.
Then believe it or not, he said the Mexican Peso because EVEN it is rising swiftly against the devaluating dollar. He gave the 3 letter acronym in the stock market that it is found under. To be honest with you though, and this goes back a couple of years ago when the big talk was a single currency for North America called the "Amero", if most can remember that, I had heard that if we went t the "North American Amero", that Mexico would benefit the most, because the value of their currency, would instantly be raised to the same as the US and Canada through the Amero, and that Canada would be hurt the worst because they would nose dive to the same level as us and Mexico. But then, that was a couple of years ago when there was talk of the "Amero", and long before our Time Magazine Man Of The Year, Ben Bernanke from the Federal Reserve Bank went into overtime printing our dollar with no backing, building for huge deficit spending and inflation, making our dollar worthless. Forget about Canada, if I were even Mexico, I'd be saying no to the Amero, because if I were them I wouldn't want to be taking on the US debt currently being incurred.
True story. Couple of decades ago I worked at a trading floor exchange in Chicago. Had a neighbor that worked trading floor security, which was one of the lowest paid jobs at the exchange. He was a friendly guy, got to know brokers in passing. One day a broker gives him an inside tip, and asked the fella if he could come up with $1,000, which was big for what he got paid, but he did. Next day gave the broker that $1,000 and the second that Mexican telecom went public as expected for like a penny a share, he invested the whole thing for him. It closed for like a dime per share that same day, so his one day investment grew to $10,000. By the end of the week, it closed at $10 a share, my neighbor, nice guy working for not much more than minimum wage became a millionaire. Now, that broker took pity and care on this guy, thankfully, but my experience dealing with brokers in backrooms? I have a low opinion of them. But, my neighbor won, and I'm happy for him.
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