What now?
Stubborn fools who throw good money after bad. Remaining buyers are a dwindling lot of “greater fools” essential to precious metal sellers.
Notice last week, everything sold off. Just like Oct 1987. Safe havens, beans & bullets.
Absolutely not.
Gold is none of those things.
Gold, Silver, COMEX is a scam; if anyone thinks the USD is ok and bulling it’s way up and up, they are fools. Thomas Friedman’s rules of investment don’t apply here; they are fine and good when level playing field abounds, not during fascist times like now. Gold and Silver should be bought and held with excruciating due diligence; watch and see I’m right as it dips and the smart money will get back in on the cheap while others have lost their money. Hey, disagree with me, I won’t be offended.
The kind of fools who understand what’s being done to our money.
US oil production increased by 1 million barrels @ day in 2012. Oil production increases in similiar range are expected for the next 4-5 years. Leading to US energy independence.
These are the circumstances that increased US federal government revenues by 200 billion in last year. This reduced federal deficits to an expected 640 billion—with similiar decreases expected for the next several years.
As well rising US oil production decreases the US trade deficit which increases the value of the dollar—which will reduce the cost of oil.
Lower US borrowing and a rising dollar and lower oil costs ...all mean that for the next five years or so the price of gold will go down.
Goldbug ping.
Buy good scotch and other barterable items. Like quality toilet paper and tobacco.
The kind that buy low and sell high.