RE: All that is going on in the world.. 1condor, it is really good to get another opinion. Have you ever seen dominos fall, even if the first domino is a small one. That's how i see Cyprus. It is the first to fall. If i were living in Europe, i would realize that NO bank deposit is safe. Cyprus proves that. And if i were a European, i would be slowly withdrawing the bulk of my wealth. Those countries that cannot print their own money will go through deflation. Those countries that can print money will go through inflation. How else can one inflate the stock markets or housing market? Print money. Of course, that means for places like USA or Canada, or United Kingdom, there will be huge inflation, but the buying power will be greatly eroded.
If Europeans trade their fiat Euros for fiat US dollars, the US dollar will strengthen and push the price of gold down in nominal terms. But on the other, central banks, such as the BRIC nations as will as Korea, and also Germany are buying gold.
Therefore, follow the smart money (central banks) and accumulate NOW. This could be your last opportunity before SHTF.
Goldcorp is excellent as is Agnico Eagle Mines. Cost of gold is about $700 per oz. And they will be exporting to countries with money and rising GDP. America is going south, but i still wouldn't bet against America totally because the American people with a high degree of freedom can be very imaginative and creative.
And one more point. Most debt based economies, and that means ALL fiat based currencies fail eventually. The average is about 40 years before it gets extremely devalued. Let us see. Since the US dollar was unpegged to gold in 1971, that is 42 years ago- OMG that is about RIGHT NOW!
As i write this, i am holding a 1 oz Credit Suisse Gold bar. So shiny and cool. 999.9 Gold. And contrary to what people say, Diamonds are NOT a girl's best friend- it is gold.
Buy a diamond and return it a few hours later and the jeweller will give you back 10 cents on the dollar. Buy gold now and return it a few hours later, you will get back spot price less a few bucks.
$2000 by year end is my prediction, assuming USA does not have a major crisis, otherwise if the USA has a major crisis, $5000 gold.
Go long on GOLDCORP. Do your own DD.