Posted on 05/11/2010 6:04:58 AM PDT by blam
Goldbug ping, sorry for duplicate pings, looks like Travis is doing a PM list now too.
Hey look, we’re “gold vigilantes” now, ha! Sneering gold vigilantes, that is.
Mail me to get on or off the Free Republic Goldbug Ping List.
A “gold vigilante” (BTW this is the first time I’ve heard the term) is somebody who doesn’t buy the official happy talk that the scheme of nonstop money-printing, accounting shell games, and central bank mystery balance sheets is leading to a “V-shaped recovery” and the elimination of debt problems in Europe, and is buying gold in anticipation of currency collapse and hyperinflation.
Similar to “bond vigilantes” here http://en.wikipedia.org/wiki/Bond_vigilante
What about Silver Bullion? I just bought two Kilos and intend to buy about 3-6 more, although I might diversify that a tad with silver coins (not numismatic), like pre 1960s silver and half dollars. What's your take on that? I have heard that silver might be poised to go to over $1k per oz. You think this might be true?
If the gold:silver ratio still has validity, $1000 silver would correspond to gold somewhere in the $16,000 (16:1 is the historical “norm”) to $50,000 (50:1 was a decent ratio before the collapse in 2008). IMO that’s very-late-bubble territory at best.
I can see $100 to $200 silver in the next let’s say three years, I don’t think that’s out of the question.
“, but I can say it’s overbought right now.”
why can you say that?
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