Paper pushing, flip/flopping Jim Cramer of Mad Money took a letter tonight from a follower of his show concerning diversifying assets into Gold. With CNBC ratings falling faster than a Pre-FOMC silver smash, perhaps CNBC executives have advised Cramer to seek investment information from legitimate sources such as Zerohedge and SD.
“Alright, Here is one from Schultz in Arizona.”
Question: Jim, How much gold should I hold as a % of my portfolio?
Ever since I started the show (??) I have felt that between 10 and 20% should be your benchmark. When gold flew all the way up to 1800 in 2011, I felt, you know what let it pull back and you can even sell some. But you got to keep your core position. Why? Because I do not regard gold as a stock, I regard it as a currency. It is an alternative currency to the fiat currency the printed currency that we have in the United States and that they have in Europe.
“I gotta tell you, I trust Gold I don’t trust Paper. That’s why between 10 and 20% makes so much sense.”