For Immediate Release
November 18, 2005
Contact: Kate Incontrera, 410 454-0417 or kincontrera@dailyreckoning.com www.dailyreckoning.com: Gold's 18 Year High - A Sign Of Things To Come BALTIMORE, Md - Both gold and the U.S. dollar have been skyrocketing. But according to a bestselling author, only one of the trends has any staying power. His advice: drop the dollar and buy gold. Addison Wiggin, author of the recently released Empire of Debt, co-written with Bill Bonner, has expected the gold rally for some time. "With the spending habits of this administration, this trend has been in place for several years," he says. Gold's jump to $482.50 an ounce on Thursday -- an 18-year high -- echoes the prediction Wiggin and Bonner make in their book. "Gold is what people buy when they begin to lose confidence in the economy, the government and its money," it says. "We expect they will begin to wonder more and more." For the same reason, Wiggin believes the dollar's recent rally is destined to reverse. "Strength in the dollar is more a reflection of trouble for the euro and the yen. But the fact remains; the US government has made many promises it can't afford to keep. "Likewise many consumers have overextended their own balance sheets," Wiggin contends. "Higher energy prices have scarcely registered on people's spending habits this fall. But the retail season is upon us and the bell is beginning to toll." Ironically, that will help gold become stronger. "What are investors going to do? Invest in the euro? It's just another paper currency, prone to the same weaknesses. Gold is the only investment alternative not susceptible to what ails the dollar." In an effort to get the message out, Wiggin and Bonner are sending copies of their book to every U.S. senator and representative on Capitol Hill. Additional copies are going to the Federal Reserve and President Bush. Brought to you by Agora Financial, and written by the NY Times best- selling authors Bill Bonner and Addison Wiggin, The Daily Reckoning is a daily, free e-letter that weaves information about the financial world, investing and everyday life into an educational and entertaining format that has been engaging their readers for over six years. SOURCE www.dailyreckoning.com | 
