Course not, our massive debt problems will tank our economy and drive gold down to about $700. Buy it then if you must.
If the economy tanks one would think gold would go through the roof. But nobody really knows what will happen. It’s all a gamble.
But I wouldn’t be buying dollars.
Course not, our massive debt problems will tank our economy and drive gold down to about $700. Buy it then if you must.
I could be wrong but I think your logic is 180 degrees wrong. If the economy "tanks" gold and silver (after a short period of falling) will skyrocket.
When Nixon was threatening to break the last ties to gold, Milton Friedman predicted that gold would sink like a stone. He was certain its only value was as the backing for the U.S. dollar.
He was wrong. Respectfully, I think you are, too.
When our economy tanks, gold will be driven even higher. Or, more properly said, the dollar will be driven even lower. Gold remains the same.
When Nixon was pondering whether or not to break the dollar's last ties to gold, Milton Friedman predicted that gold's price would drop to near zero. He was convinced that its only value was its connection with the almighty dollar.
He was wrong. When Nixon made the move, gold instantly shot up to $50 and tripled by 1972. I think you're wrong, too (respectfully). When the economy tanks, the dollar will along with it.
Gold is the constant -- it only reflects the perceived value of the currencies it's priced in. I'd keep buying.