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09/24/2006 Archived Entry: "Howard Ruff says to buy gold and silver"

Howard Ruff, who advised against gold for 22 years, answers the question Why Gold & Silver Now?

Silver says: Buy and hold (or hide) the metal. Bullion coins, silver rounds, bags of "junk" (pre-1965) silver coins. Gold mining shares are extremely risky. Too many gold mines are nothing more than a hole in the ground with a liar standing on top. (These words are often attributed to Mark Twain, but some doubt that claim.) ETFs and closed-end funds like CEF and CLGLF can be used to hold IRA, 401(k) and other tax-advantaged funds, but ONLY if you know the difference between an "exchange traded fund" and a "closed end mutual fund."

Lew Rockwell explains that "owning and holding gold symbolizes independence and freedom" in his latest essay What Government Is Doing to Our Money. "Thus does the goldbug understand far more about the nature of things than others who blithely assume that wealth can be created by a printing press."

Posted by Silver @ 07:14 AM CST

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