Gold And Silver - The End Is Near; Just Not In Sight

The Market Oracle ^ | 6-22-2013 | Michael Noonan

[blam]

Ping.

[blam]

Has the Great Financial Crisis Finally Arrived?

[gunsequalfreedom]

Not in the lifetime of anyone reading this will gold get to $10,000 an ounce.

Me thinks a shill that bought at $1,900 is trying to move the market back up so he can recover his loses.

[Bobalu]

Yup

[Jet Jaguar]

Goldbug ping.

[hinckley buzzard]

The newsletters and bloggers are always motivated by their own short term financial interests. That is why years ago they were christened by an insightful observer as "financial porn." The always promise but seldom deliver.

Metals are down, and may go down further. Great. Buy 'em if you like 'em. They'll go back up sooner or later. And that's as good as you will get from any of these einsteins.

[TomasUSMC]

I remember the Tea Party guy from the Chicago Exchange saying Gold was no longer any good because of what ETFs had done to it. Couldn’t follow the reasoning but it seems he was right on the money.

[Jet Jaguar]

Last I checked physical gold and silver are selling higher than the fake spot price.

[Aliska]

I think the prices are being manipulated. If you have it and bought at a higher price, I'd try to hang onto it (but not trust in it or dollars to save your physical life). I've resisted pressure to buy physical, happen to have some stock but that was more for copper than gold.

You don't want it on paper or in a vault with a bank or private company or at shipping distance. Why do I say that? Just an intuition.

[dagogo redux]

“Me thinks a shill that bought at $1,900 is trying to move the market back up so he can recover his loses.”

I doubt the writer thinks he has such sway over the markets that a blog post will recoup his losses. Most people write because they like to think someone somewhere is impressed with their ideas, but markets couldn’t care less.

[Aliska]

James Chapter 5, first part.

1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you. 2 Your riches are corrupted, and your garments are motheaten. 3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days. 4 Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth. 5 Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter. 6 Ye have condemned and killed the just; and he doth not resist you.

There was a requirement to report sales of gold or pm over $600 but I guess that has been repealed.

[pterional]

With the US Government spending more than it takes in and a 17 trillion dollar deficit with 48 million people on food stamps, 10 million people on disability and hundreds of trillion in future liabilities the writing on the wall, it is just getting the timing right. When the poop hits the fan it will be too late to move equities, bonds and cash into hard assets. It will be like trying to buy several thousand rounds of ammo after Sandy Hook shooting.

[golux]

Can someone on this thread please explain to me why VGPMX has been tanking for the last two years? Yep, call me an idiot: I can’t for the life of me figure out what’s up with hundreds of metals and mining stocks that are collapsing, and collapsing, and collapsing.... Is there no end in sight?

[TomasUSMC]

The sign I will look for is when gas prices start to fall.....because no one has the money to pay for it.

[Lancey Howard]

This is the kind of article you usually see in that Democrat propaganda publication, ‘Business Insider’.

[gunsequalfreedom]

Well, it sounded good...to me anyhow. I’ll go with your take on it.

[hosepipe]

FIAT Givernment money is worthless... a house of cards..
scratchy toilet paper, america is rotting.. maggots are eating it...

Hold gold... buy more when it gets cheap enough..

[Kozak]

I’ll take that bet.

[gunsequalfreedom]

I didn’t say I was willing to bet on it. I was just figuring the GOP will get a spine and brings the nations fiscal house in order. As I said, I am not actually placing a bet.