Posted on 06/02/2013 6:02:49 AM PDT by blam
NOURIEL ROUBINI: 6 Reasons Why Gold Will Plunge To $1,000
Joe Weisenthal
Jun. 1, 2013, 4:27 PM
Gold has been getting poleaxed in recent months, though it remains just below $1400/oz.
In a piece up at Project Syndicate, economist Nouriel Roubini says gold will fall to around $1,000 before the end of 2015.
He gives six reasons why.
We summarize:
* Gold spikes during extreme crises. The crises are over.
* Gold does well during periods when there's a risk of high inflation. That clearly is no longer a big worry, given how much central banks have unsuccessfully tried to stoke even modest inflation.
* Now with the economy recovering, nobody wants to be in rocks that don't pay any dividends.
* Real interest rates are rising. That kills gold. Governments with debt issues are selling gold.
* Gold was juiced by right-wing fanatics in the US. That boom is over.
(Excerpt) Read more at businessinsider.com ...
Wait till government asks to be paid in gold and not paper. Fracking irs already jails those paying with pennies.
That’s the real deal.
Fiat money laundering fractioning currency is a scam. Our government is an ebt card drug dealer and pusher.
Dollars are being printed to pay off maggot gov workers and oil.
More crisis ahead as the futures market is going to be rocked in the promises of globalism gone awry when Iran lobs a nuke and McCain funds alqaeda in syria to go after christian tparty patriots in the name of laraza style acceptance and wealth share.
Wake the heck up America.
“* Gold was juiced by right-wing fanatics in the US. That boom is over. “
Says a left-wing extremist. There isn’t enough people with money in the US to have pushed gold to the price it is today. Governments the world over are buying and have been buying. They know the extreme left-wing policies the socialist States have adopted are going to crash the world’s economies.
I have no diea whether gold is heading up or down, but I find it amazing that a guy makes 50 outrageous predictions in any given month, and people still listen to him because he was sort of right once.
But I can buy anything I want with it. Like people have all over the world for the last 6000 years.
If gold does go to 1000 I will buy as much as Physical as I can lay my hands on.
Gold? You cannot eat it. Wheat & cattle you can if you can afford it.
It’s the way economies have worked for millennia.
Correct.
But if no one has the gold to buy the beef or seed what do you use as a medium of exchange?
Yes, Gold is the haven for capital preservation during a collapse/panic. And these are certainly not “normal times”.
That ship has sailed.
But if no one has the gold to buy the beef or seed what do you use as a medium of exchange?
All right! I’m dumping my PMs and going all-in on the Dow! Happy days are here again!
Well, we either start the tack in the right direction or the ship will capsize. All will go down with that, including the ComDem B_tards.
Roubini is always an excellent counter-indicator. I was concerned about my physical precious metals investment until I read this.
If governments are selling gold, it is long-term bullish gold because it means they aren’t willing to engage in real fiscal reforms.
Thank you. Someone who finally gets it.
Gold is a storage of wealth. Silver is currency. There is a vast amount of American Silver Eagles and 90% silver out there and people are buying up all they can get their hands on. Local coin shops and online precious metal dealers are having a hard time keeping up with demand.
We voted in the community organizer instead of her.
Okay, something must be wrong with me, because when I read what that ex-spurt says, I read 6 reasons to BUY gold...asap. Maybe with dollar cost averaging approach starting NOW.
I know a little about how hard farming is as my Mother and Dad were raised on the hardest kind of farming back in the days of WWI.
And I live surrounded by dirt farmers.
So I sympathize with you.
However, you missed the point of my question.
When I asked about what you would pay for cattle and wheat, I should have been more careful.
What I was asking in reply to the post that you can not eat gold...instead invest in cattle and wheat, my real question was:
What form of payment are you going to use when paper money becomes worthless.
That is when you will be glad you have some real gold coins or something else of value to barter.
Paper money, or for that matter money of any kind, is nothing more than a substitute for barter. When the money goes worthless, he who has something to barter that can be broken down into small amounts, will make it just fine.
Money took the place of barter because it is hard to pay for a chicken with a cow and make change.
So we need something that can barter for big or small items.
All through history, gold has met that requirement. Whether it will the next time around, I know not.
But I firmly believe that we are going to find out.
What we are ignoring in all of this is, the control on prices has been, that production has moved from America, to China.
We are no longer the major exporter in the world.
China is. That continues to be the case, as China takes over ever more production, of OUR industry.
Now we are #2. And shrinking.
That is what everyone is completely ignoring. China is winning.
And both parties in America are helping.
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