It looks like one of the most famous people in history has just been “outed” as a gold bug, his name is… Osama Bin Laden. That story comes from a document obtained by the New York Times. To be fair to both sides of the aisle, Osama Bin Laden was also extremely fearful of climate change and urged action against it – so knee-jerk liberals and conservatives can fight it out whether Osama Bin Laden was a progressive or conservative!! Back to gold… Bin Laden thought the precious metal which was currently trading at $1,390 could hit $3k. He also seemed to use a little technical analysis and thought that if the metal went above $1,5000 it would be a buy signal.

Gold is currently trading at around $1238 an ounce.

See an excerpt from the Bin Laden letter sent to Al Qaida’s “general manager below followed by the full letter in PDF. The NYT article is here.

– As for the money you received in local currency, it should be gotten rid of, because its value has been declining and it continues to go down. As for the ransom money for the Afghan prisoner, I think you should use one-third of the money to buy gold and another third to buy euros. Then, use one-third of the remainder to buy Kuwaiti dinars and another third to buy Chinese yen; the remaining third can be for expenses, if no other resources are available in the near future. When you do spend this money, use the euros first, then the dinars, the yen, and then the gold, which should be purchased as ten-tola (pieces, in several amounts over a one-month period. FYI, gold [coins] are minted in several countries, such as the Swiss, Dubai and South African coins. The broker you deal with should be trustworthy, but you can sell a small amount of gold on the main market to  make sure it is genuine. I was told that your intermediary has connections with a broker in Peshawar who is from his same tribe.

In terms of buying gold, the overall price trend is upward. Even with occasional drops, in the next few years the price of gold will probably reach $3,000 an ounce. Right now it is $1,390 an ounce, but before the events in New York and Washington it was $280 an ounce. Note: If the price of gold reaches $1,500 or a little over before you get this message, it’s still alright to buy it.

Full document in PDF here – UBL-Letter

[drizzle]

 

COMM-gold-just-had-its-best-quarter-in-30-years-04012016

[/drizzle]

Tags: