Posted on 11/25/2005 6:48:53 PM PST by hubbubhubbub
FWIW, and I swear to God that this is true, when I heard commodities firms advertising on the Howard Stern show I knew that the stock market bubble had finally run its course and The Top was imminent.
"The Top" didn't come for another two years, at least.
Gold has almost doubled in 4 1/2 years; NASDAQ went from 1000 in mid-1996 to 2000 by the end of 1998 -- three and a half years. Are people as excited, as obsessed, as universally giddy about gold now as they were about their internet stocks in the beginning of 1999? NFW. Gold is in a stealth bull market and IMO nowhere near bubbly in sentiment.
I recall (but I might be wrong) that the radio news back in the mid-80's always gave us the gold price just like they gave the DJII and NASDAQ. FWIW, I myself won't consider gold to be bubbly until we get at least that -- gold prices on the hour every hour.
Save this post.
It'll be $2,000.00 by 2008.
Elmoooooo!!!!
OK. You win. The sky is falling.
yes I agree, but what will silver be.
and even better what will silver's percent increase be.
Lurking'
I did NOT say the sky was falling, you did, TWICE now.
I said the the VALUE of the dollar is falling and that is why the VALUE of gold is rising.
Nice chatting with ya
but...GATA go now....
And if you had purchased gold then?
As Gold has exploded in the past 3 weeks, the yield on the 10-yr note (which determines mortgage rates) has fallen from 4.70% to 4.42%, the equivalent of a Fed rate cut and then some. So much for the inverse relationship between Gold and interest rates. As a trader who trades both of these futures and currencies, it is clear that the current gold rush is mostly speculative in nature.
It has gone up even more than that in the past 5 years, all while long term rates have declined. The author's premise is provably false.
you are good with the funny pictures
kindly answer with words:
Has the increase in the VALUE of gold in dollars anything to do with the Federal Reserve printing 1.2 Trillion Dollars which are not backed by anything?
Are you aware that foreign countries OWN $6.2 TRILLION of our US dollars?
What effect would you say that has on our spending power?
Inquiring minds would like to know your opinions on those questions.
Or do you only make pretty pictures?????
I think you should buy gold. Gold! GOLD!!!!
Hurry!
More gold!
No need to shout.
If you're going to publicly stake out a strident position against the historical currency of your home country (if USA is your home country - otherwise what's your agenda?), you really should be prepared for some disagreement.
It's supply and demand. More consumers buying a finite supply of a rare commodity.
Price goes up.
Sky remains aloft.
Petronski
I did not tell you to buy gold I said that teh value of the dollar is going down which is why the value of gold is going up.
You are a lawyer. Look up GATA. Read the briefs.
Good bye!
It is not supply and demand.
It is ablut what the true intrinsic avlue of the dollar is.
If the dollar has lost intrinsic value it will take more of them to buy something of value in this case gold, it coud also be oil, or silver or coffee or copper or zinc.
Come to think of it they are ALL up WAY up. 100-2200% up.
Are they all short supply and rising demand? NO and NO.
I don't discuss economics with horses, preschoolers or goldbugs (but I might reconsider the first two). Sorry.
Don't know.
you are laughably wrong.
I and not a goldbug, I own very little gold.
I am speaking of relative value.
Your hyperbolically negative posts on this thread, combined with your erstwhile denial of gold ownership, make you a goldbug of stereotypical proportions.
That was true a couple years ago, but it is not the case now. Gold has gone up relative to ALL major world currencies, not just a depreciating dollar. Which leads to the second thing--the dollar is at a recent high, and has been holding for months. At 1.17 to the Euro, the dollar is not "going down" at least during the recent rally in gold price.
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