Posted on 11/09/2009 8:14:29 AM PST by TigerLikesRooster
Well in that case I suggest you stock up on a few sacks of charcoal, sulfur and potassium nitrate. Or read up on sources of same you can find around any farm....
I’m sorry - educate me as to what good Gold will do for me if the world economy goes to heck? I think food, smokes, booze, and ammo will be a better bet.
One coin is $1000+. Try smuggling $10,000 in cigs (or booze, or ammo) across a border to flee whatever threatens you.
You gonna eat that gold? Oh, you’re gonna by things with gold, huh? Like what? Food, ammo, fuel? From whom?
Of course, you’re making a big mistake here. Gold doesn’t primarily help YOU survive a crisis. Gold helps your surplus wealth survive a crisis. Get your beans and bullet squared away first.
at the corner of Harrods Department Store in London?
- Nothing can be in a bubble unless it is well past the previous inflation-adjusted all-time high
- Gold regularly drops up to ten percent in three days or less and once dropped more than twenty percent nearly without a break in 2008. Bubble price action goes one way.
- In every case, gold “corrections” have taken weeks and months to recover. Bubble price action is exponential — not a grinding, grudging “recovery”.
- It is almost a commodity, yet supply is not readily available. That’s a supply shortage, not a bubble.
- Boiler-room companies (i.e. cash4gold) are begging the masses to sell to them, not to buy from them
- CNBC is still bashing goldbugs instead of worshipping them
- We haven’t seen a TIME or Business Week magazine cover with a cartoony John Q. Public engaging in borderline-sexual acts with Lady Liberty from the Saint Gaudens Double Eagle
- Nobody you know, knows what Lady Liberty from the Saint Gaudens Double Eagle looks like
- Hollywood hasn’t yet made gold-related TV shows, movies, etc.
Also, this article specifically addresses the harrods issue:
“....If the top were in, we’d be in the midst of an all-out Mania. Are we? Do you get the impression there’s a rush into gold by the greater public right now? Are headlines blazing the covers of major magazines pronouncing gold as the new investment king? Has Wall Street gone gaga over gold and silver? I ask because these are the true signs that a trend has entered its final blow-off top and would signal it’s time to get out.
“I decided to put Bert’s prognostication to the test, and I invite you to play along.
“First, I struck up casual conversations with my friends, neighbors, relatives, acquaintances, my wife’s co-workers - heck, even my seatmates on airplanes - angling to learn how much gold they were hoarding, about the killing they were making in gold stocks, and how they were getting rich from all their precious metal investments. (In fairness, I had to exclude my dad, who is an award-winning gold panner, but he’s the only one.)
“I found no one - not one person - who is actively investing in anything gold or silver, let alone rushing to buy or hoard the stuff. I had two people who confided that they did own gold, but in both cases it was inherited. A few were curious how they would go about doing such a thing, and fewer asked if I thought they should. Most everyone looked at me blankly when I asked; they didn’t seem to know what I was talking about. When I got a reaction like that, it was pointless to ask about gold stocks. Of the handful I did ask, most had never heard of Barrick Gold, the world’s largest gold producer....”
http://www.321gold.com/editorials/casey/casey110509.html
It was a joke.
I was making the point that you can both accumulate gold and silver AND other things. Not just one of the other.
It was a joke.
When I see Lady Fortuna graffiti on subway cars/deserted buildings I will know it’s time to sell
It’s a bubble - but the shoeshine boy’s not buying in for another year or two...
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