Sounds like a buying opportunity.
We are in Wonderland, for sure.
That “plunge” chart is all of $5.00. Silly.
Why is anyone upset? This is how it works! The ratio of gold to dollars goes up and it goes down. Crying when it goes one way and not the other is stupid!
The dollar is big. Huge. There are plenty of dollars in circulation in the USA and the world that it will take 20 0bamas and 3 carters to destroy the dollar.
You can’t eat gold. If there is a crisis, all the people with gold will come out and shave off some gold and go looking for a loaf of bread. So will everyone else, and soon you’ll need a lot of gold shavings for your bread. Then the guy with the bread will be stuck with piles of gold and be starving.
Buy liike there is no tomorrow. Becuase there isn’t.
For the next decade the direction of gold is down because USA oil production is up. That hardens the dollar. Its pretty much that simple. Here’s a graph. Notice the similarity between now and 1980.
http://www.macrotrends.net/1333/gold-and-silver-prices-100-year-historical-chart
Various large, international financial entities telegraphed a desire to drive gold to $1,200 months ago, I recall commenting upon it here, suggesting that holding gold might not be the best strategy in light of such baldly stated intent coming from those with an ability to follow through and actually do it. And, here we are. Almost there.
