Posted on 09/08/2009 12:15:49 PM PDT by arthurus
Last October was a pretty brutal time to be in the prognostication business. I had just called Gold the opportunity of a lifetime at the end of August at a price of around $800/ounce. By the time late October came around, the price had fallen to around $725 and the catcalls had begun in earnest. The Keynesian Kakistocracy was out in full force, hurling insults so rich and humorous that I felt compelled to write some of them down. Now a year later it is time to do another quick review and probably set myself up for yet another barrage of hate mail if the price of Gold doesn’t immediately set a course for Mars.
(Excerpt) Read more at seekingalpha.com ...
Our “elite” is so out of touch that our country will be in complete ruins and they will still only converse about their narcissistic selves.
The gold bubble has yet to burst...
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I bought 4 $20 gold pieces back many years ago when gold had fallen from $800 to $400. Over the years, it fell way lower and now it’s up pushing $1000. All I know about gold is that when you want to sell it, you have to find somebody to buy it. I’m not buying any more.
I misread the headline and I thought it read “GOD” was still the opportunity of a lifetime..
I’ll buy your gold...makes more sense than investing in the Obama economy...
Gold doesn’t generate cash flow; I need cash flow to keep Mrs. Tick supported in the manner to which she would like to become accustomed.
Then, there’s always the storage problem.
But the one thing I have to ask myself is this:
If gold is such a great — nay, such a CRUCIAL — investment, then why the hell is anyone selling any?
Gold will tumble all the way back down to $325 an ounce as soon as Obama announces a repeat of the gold confiscation act of the thirties in order to prop up our rapidly falling dollar. Then after Obama steals everyones gold for cheap, it will go back up to $900-$1000 an ounce, and Obama will have wiped out the national debt and found a few extra trillions to pay off his pals and finish buying out the rest of private industry, screwing the American people out of their lifes savings once again.
So be prepared for that barrage of hate mail Andy.
>> I misread the headline and I thought it read “GOD” was still the opportunity of a lifetime..
He still is! In fact, the opportunity of an eternity.
UGL
you have to find some to buy...with a premium...and hold on to it...then find someone to buy it, discounted from the price of the going rate for gold ....
sure, I'd like to have some, but........
No problem...easily sold at any number of reputable dealers. Also easy to sell (above premium, usually), on Ebay
bttt
I bought gold back when it was around $234 an ounce, and everyone was poo pooing the rumors that gold was about to go up to over $800 an ounce, possibly $1000 in a few years.
I sold 3/4 of it at just over $800 an ounce, and kept the rest, since it was basically risk free no matter what gold did.
I think it’s time to get rid of the rest before Obama steals it.
It is amazing that the events of the last year didn’t achieve the $2000/oz gold price that so many of the gold bugs predict with regularity.
I suppose it could still happen, but that it didn’t happen last year when the entire economic system was collapsing is kind of telling.
People DID horde cash, and buy staples. It appears that most folks figured they’d rather have something they could spend or eat.
Huh? It wouldn't be priced at $1500/toz if people weren't willing to buy it at that price. The price is the equilibrium of people willing to buy and sell. If it jumps to $2500 tomorrow it will be as easy selling it then as it it today at $1000. Price has no effect or rather price is the net effect of buying and selling. Econ 101.
If gold is such a great — nay, such a CRUCIAL — investment, then why the hell is anyone selling any?
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Seriously Flawed argument... my parents always said “why buy somebody elses headache” whenever I bought a used car ,, truth is their new cars spent more time in the shop with bigger problems than mine ever did..
There will always be buyers and sellers of any item you can name, their motivations can be anything you can think of ,, the real question is “Is this the right thing for me at this time?”
That second spike will be 3000
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