Making Poverty History

By: Mark O'Byrne | Mon, Jul 4, 2005
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Weekly Markets
Precious Metals - 'Rich Dad, Poor Dad' advocates investing in gold and silver bullion
Oil - Euro Oil Chart
Other Commodities
Currencies - Central Bankers' Bank (BIS) Warns
Bonds - Bill Gross of PIMCO Bonds
Stocks - Energy & Utilities Outperform

Weekly Commentary
Making Poverty History

Irwin Stelzer, Kathleen Barrington, Martin Weiss,
David Smith, Damien Kiberd, Paul O'Kane,
Brendan Keenan, John Hathaway

Performance ( % Change)
   Current Level   5 Days   1 Year   5 Year 
Gold 427.10 -2.9% 7.9% 50.7%
Silver 6.85 -5.5% 15.5% 38.9%
S&P 1,194.44 0.2% 5.1% -17.7%
Nasdaq 2,057.37 0.2% 2.1% -46.7%
ISEQ 5,556.76 1.2% 20.2% 35.8%
FTSE 5,161.00 1.6% 14.4% -29.0%
USD/EUR 0.8264 -0.5% 0.5% -21.8%
OIL (Nymex) 58.75 -1.1% 51.7% 83.3%

Robert Kiyosaki: "I am currently preparing for a crash, an economic recession and possible global depression."

Weekly Markets

Stock markets were up marginally for the week.

Bond markets were down with a consequent rise in yields.

Precious metals, oil and the majority of commodities all sold off.

Precious Metals

Gold had its first losing week in 6 and is lower by $12.90 or 2.93% on the week.

Silver is lower by $0.40 or 5.52% on the week.

Gold sits at 2 week lows and silver sits at near 2 month lows.

Gold denominated in Euros also fell in price to nearly EUR357 but remained above the EUR350 mark which was significant multi year resistance and may now become resistance or support to the downside.

Robert Kiyosaki, the investor, entrepreneur, educator and the best-selling author of 'Rich Dad, Poor Dad' and a number of other best selling financial education books has gone on record as saying that there is a real estate bubble in the US and globally which will inevitably burst. He advocates becoming financially prepared for this eventuality by buying gold and silver coins and storing them in a safety deposit box in a secure bank.

"Lately, I have been asked if we are in a real estate bubble. My answer is, "Duh!" In my opinion, this is the biggest real estate bubble I have ever lived through. Next, I am asked, "Will the bubble burst?" Again, my answer is, "Duh!"

It was only a few years ago we were in a real estate depression, which proves how quickly people forget. In 1987, the stock market crashed and the Savings and Loans went out of business. That led to one of the biggest real estate fire sales in history.

By 1991, the real estate market was depressed and it remained depressed until around 1998. In Hawaii, the real estate market remained depressed until 2001. Today, the Hawaii real estate market is on fire and people have already forgotten how bad the market was.

So the answer to the question, "Will the real estate bubble bust?" is an emphatic, "Yes. All bubbles bust." The reason I write this alert is because this time, when the bubble bursts, I think it will be a monster. Never in my life have I seen so much money being made on such weak fundamentals. If you think the last recession caused by the bubble bust was bad, the coming recession will be at least twice as bad. It might lead to a depression.

The reason I put forth this alert is not to frighten anyone. The reason I put forth this alert is to say get prepared for the coming economic changes.

How long will the bubble last and keep expanding? I do not know. I just wanted you to know that I am currently preparing for a crash, an economic recession, and possible global depression. Why? Because this is a very big worldwide bubble . . . the biggest I have ever seen."

All Booms Bust - Words of Caution - Richard Kiyosaki, Rich Dad, Poor Dad
Create Your Own Fort Knox - Kiyosaki, 'Rich Dad, Poor Dad' & Gold
Ibbotson study determines diversification benefits of precious metal bullion - Lycos Finance
Gold moves on despite the sceptics - Money Management
Spot gold predicted to double in coming months - Purchasing
How to Hedge against Two Scary Scenarios - Waggoner, USA Today
Gold Bulls Rub Hands; Stock Bulls Wonder When It'll End - Bugos, Safe Haven
Top Precious Metal Price Forecasters Face Off - Wood, Resource Investor
Gold Price - Big rally to Come - Mining MX
Alan Greenspan, wizard or villain? - Business Week
Gold Rush may mean inflation bust - CNN Money
Gold & Silver Market Watch - Scottia Mocatta
U.S. About to Launch Massive Ad Campaign Promoting . . . Gold - De Meritt, Gold Eagle
Financial Terrorism - Bonner, Gold Seek
The Mysterious Gold Order - Australasian Investment Review

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Mark O'Byrne

Author: Mark O'Byrne

Mark O'Byrne

Brief Profile
Mark O'Byrne is Executive Director of Gold and Silver Investments Limited ( He is regularly quoted and writes in the international financial media and was awarded Ireland's prestigious Money Mate and Investor Magazine Financial Analyst of 2006. He is a financial analyst who believes that due to the current macroeconomic and geopolitical situation, saving and investing a small portion of one's wealth in precious metals is both prudent and wise. Gold and Silver Investments Limited believe that hard tangible assets and monetary assets such as gold and silver, the world's oldest forms of money, will once again become the safe haven assets of choice in the coming years. The increasing economic and geopolitical uncertainties at the dawn of the 21st Century mean that gold, silver and platinum will become increasingly important in the new century as a means of preserving financial wealth.

Gold & Silver Investments Limited is a precious metals brokerage company which sells and buys a wide variety of gold, silver and platinum numismatic and bullion products to all class of investor, companies and institutions in Ireland, the UK and internationally taking payment in all major currencies. We assist our clientele in diversifying their assets with a comprehensive range of precious metal coin and bar products and by allocated and unallocated precious metal storage facilities licensed by the Chicago Board of Trade (CBOT), Comex and Nymex and by other precious metal storage programs.

Mission Statement
Gold and Silver Investments Limited hope to inform our clientele of important weekly financial and economic developments and thus help our clientele and prospective clientele understand our rapidly changing global economy and the implications for their livelihoods and wealth. We focus on the medium and long term global macroeconomic trends and how they pertain to the precious metal markets and our clienteles precious metal savings and investments. We emphasise prudence, safety and security as they are of paramount importance in the preservation of wealth.

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