Posted on 02/11/2011 7:33:03 AM PST by SeekAndFind
I think Gold will bounce around for a bit but I don't know what kind of dope Goldman and Business Insider are smoking if they believe the tripe about the "strengthening dollar, growing economy, etc." The dollar isn't strengthening, the economy is not growing...or just barely...and the China correction has not happened. What will happen when China's GDP falls below the 6-8% they need it to sustain????
Gold is okay and will continue to be fine. But, don't invest 100% in it and you'll be okay.
If we're to the point where the government restricts the use of gold as currency, do ya REALLY think houses will be bought?? Do you REALLY think the very people who are trading food or ammo for gold are going to REPORT IT??
Holy cripes....
Thanks for making my point, although it appears really did not read the thread. This is the problem I have with the gold bugs, the idea that you can sit there on all this wealth in the form of gold and use it to gain economic advantage is problematic. If the SHTF (and MadMax is the MO) if you hold gold and it is found out, someone is going to come and get it.
Could I have it all wrong? Possibly, but those that held gold during the great depression first saw the government outlaw that ownership and then deflate the value of your gold by about 50%. It is difficult to imagine that more draconian measures instigated by the government will not be at hand if we face economic catastrophe or hyperinflation.
schu
Sorry, Goldman... I guess I’ll just have to take my chances...
With everyone buying and few selling, Goldman may be short some physical gold. Start a selling cycle and sop up gold on the cheap. The peasants will never figure it out...
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