POPPYCOCK!

Gold, Silver Fall as Citigroup Downgrade Sparks Risk Concerns

Nov. 19 (Bloomberg) -- Gold and silver fell as a drop in U.S. stocks curbed investments in riskier assets such as commodities.

U.S. equities declined after Goldman Sachs Group Inc. placed a ``sell'' rating on shares of Citigroup Inc., the largest U.S. bank by assets. Japan's currency rose as traders repaid yen- denominated loans that had financed investments in higher- yielding assets. Before today, gold had gained 23 percent this year, reaching a 27-year high of $848 on Nov. 7.

``Risk aversion continues and that hurts all investments, including gold,'' said Leonard Kaplan, president of Prospector Asset Management in Evanston, Illinois. ``Investors are taking huge losses so they're not eager to invest in anything.''

I'm sorry, but NOTHING could be further from the truth. If you believe this drivel, sell ALL your Gold and Silver now, and NEVER buy it back.

The timing of the Citigroup downgrade to Sell (i.e., with Citigroup already down 30% from its October high), and a warning from reinsurer Swiss Re that it lost nearly $1.1 billion on two credit default swaps, played on investors' concerns that it is premature to think the financial sector has hit bottom.

In a somewhat ironic twist, Citigroup on Friday raised its rating on the U.S. banking sector to Overweight from Market Weight citing, among other things, awful investor sentiment.

A Billion and one reasons to own Gold and Silver...