“Mann International”– International Commodities-(Gold’s New Best Friend)

“Mann International” the Asian-based investment broker says that the main state-owned Chinese television channel is advocating the purchase of precious metals including gold and silver as an investment.

Furthermore, every bank will sell gold and silver bullion bars in four different sizes to individual buyers whilst China’s largest bank, the ICBC, is setting up a precious metals department to handle growing investor demand.

Sources close to “Mann International” say that the news is likely to provide a floor under the prices of both metals. Gold closed out the week at $1005 despite concerted efforts by bullion banks to drive the price down by short selling futures contracts.

The consensus at “Mann International” appears to be that investors have begun to look more closely at the “safe haven” status of the US dollar which has just completed six solid days of losses against a basket of major currencies. This scrutiny has revealed flaws in the viability of the US dollar as a store and preserver of wealth in the light of quantitative easing practices that devalue the currency.

“Mann International”: Ignoring mainstream economic commentary means profits for canny investors.    

“Mann International” analysts say that ignoring mainstream economic commentary trumpeting  the arrival of “green shoots” and the like have served to help its clients achieve impressive returns on investment.

The Asian-based investment broker vehemently warned clients to avoid purchasing stocks in banks and financials despite the hyperbole surrounding the results of the US stress tests.

One of the firm’s newsletters apparently described the banks’ capital raising exercises following the results as a “Ponzi scheme with Federal approval” saying that the US government wanted to shift the price of the bailout of several US banks onto the small investor in order to facilitate the repayment of TARP funds.

“Mann International”, instead, advised its clients to purchase stocks in selected mining stocks several of which have more than doubled in price.

The firm also advocated the acquisition of precious metals including gold which, last week, reached and closed at over $1000.
The rally in equities appears to have run its course and investors are now taking money off the table and heading for the “safety” of the dollar.

“Mann International” analysts are advising their clients to be prepared for sharp falls in key stock market indices and the opportunities to purchase selected company shares at excellent prices.