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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
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18 comments:
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Get ya some!
.
That's the final, "current problem solver" bubble.
Won't harm anyone (you don't need gold like you need energy, food and shelter) and will be the CB's and Governments way of buying their way out of this just by shifting some gold between themselves.
The "number" applied to gold, or should I say it's "value" is completely arbitrary.
Who do you think stands to benefit from it? The people with all the gold. IMF, Governments and CB's...and really really filthy rich people to I'm sure.
Even if there were some crazy decree that it was now worth 100k an ounce, it would hardly bump up the number of "millionaires" out in society because people just don't have that much gold with the exception of people in India.
Governments around the world then confiscate gold. Everybody thinks they are saved because they might have an extra 100k because of the Mrs.' jewelry and a fancy watch or something. It will all just be plowed back into paying off their debt.
Remember the golden rule.
He who has the gold makes the rules.
And then the debt slavery cycle continues with the fiat currency game.
Anyhow, no, I don't see it going to 100K as I was just using that as an extreme example.
I do think that we will all be surprised at how high it goes.
Just my wild ass guess.
and if only 42% of HPers have gold, that shows you that it's probably not very widely held.
There was probably a reason that old-timers kept 5-10% of their wealth in PMs. Times like these were probably what their original intention for investing in gold was.
and I'll bet those old-timers had gold...IN HAND.
not some silly ETF or pool account where who knows what goes on behind closed doors.
You want your gold leased out?
Silver is the better buy!!!
bubble, sold my CEF yesterday after holding a few years
dollar just hit a record low against the euro
"dollar just hit a record low against the euro"
that's hardly news, the dollar hits a record low against some other currency every few days...
Going over $1,000 this week for sure
The Vietnamese sell houses for gold:
http://blog.mises.org/archives/008272.asp
Vietnam may have a housing bubble and gold may be overpriced but it seems that the two are suited for each other.
It's time..... to change my blogger name to something more appropriate.
At some point, all the gold bugs will "sell" to buy cheap assets.
I figure just buy the neutral position in gold. Buy the physical and buy cheap puts gold miners. So, if there is a price collapse then you have a hedge. Otherwise, if the price goes up its safe. You would only have the cheap puts in the bank.
Keith - nice to see you may finally be waking up.
$3.50 silver is long gone.
$350 gold is long gone.
Oh- and $4.00 gas is long gone...
$20.00 gas - if you can get it.
Enjoy the die off!!!
That's the final, "current problem solver" bubble.
It's no bubble as long as demand far outweighs supply.
Won't harm anyone (you don't need gold like you need energy, food and shelter) and will be the CB's and Governments way of buying their way out of this just by shifting some gold between themselves.
You DO need it, or something like it (silver, platinum, SOMETHING) to have a chance against inflation. Or, you have to be exceptionally astute at trading/investing some other instruments.
The "number" applied to gold, or should I say it's "value" is completely arbitrary.
No, it's not arbitrary at all. The current price reflects the cocktail of supply, demand, government manipulation, naked shorts, physical buyers/sellers, pool buyers/sellers, paper buyers/sellers...AND all of the same factors applied to whatever fiat currency you're pricing it in...same as any market. It may SEEM arbitrary because all that goes into determining the current price moment to moment is unknowable.
Many of you are in dire need of Econ 101. In lieu of that, watch part I and II of Richard Daughty's (the Mogambo Guru) interview (link given below). If you have two brain cells to rub together, you may start to get it.
Please, please start educating yourselves.
PAY ATTENTION!
http://tinyurl.com/5juvwt
Silver is the better buy!!!
_______
Yes, it is, for several reasons. The gubmint doesn't want you to know that, though.
I think its our patriotic duty as Americans to buy and hold gold right now!
God Bless America!
Silver has more upside % potential and is getting scarce. It has made a relatively weak upward swing during this crisis and is soon to break out.
I love gold but silver is an awesome buy!!!!
Just loaded up some more today and will continue as more banks unwind.
Can you imagine having your own personal bank that is backed by gold and silver!
That is how you have to think about todays situation. Lets see, deposit your funds in fiat currency banks and hope they will not implode or purchase precious metals and wait this fiasco out.
ICEMAN
Gold is worthless if you don't have lead to protect it. Just sayin'.
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