And the gold hawkers say, Buy Gold! It’s going to be $2000 an ounce! If they really believed that, they would be buying, not selling.
The “hawkers” don’t care what the price is. They make $ when you buy or sell.
“And the gold hawkers say, Buy Gold! It’s going to be $2000 an ounce! If they really believed that, they would be buying, not selling.”
To be honest, I would not have bought when it was $1900.00, or even $1250, but it’s getting close to the point that I might buy. The only thing that bothers me about ‘precious’ metals is that you can’t eat them, build a house on them, or grow crops on them. If the economic system collapses, and you have land with water, and a means to protect it, you are much better off than anyone with paper money - and likely better off than those holding precious metals.
Maybe someone can explain to me why people pay so much attention to the paper price (of gold) being traded by computers, programmed by whoever?
How can anyone have faith in our constantly devalued currency, desperately being propped up by the Plunge Protection Team, or from the constantly twisted & massaged numbers on inflation, employment, and productivity?
As a senior living only on Social Security, I resent the EBT cardholders getting a 4% increase in payments, while we seniors get zilch. We did pay in, and those of us who were self employed paid double that of those getting a paycheck.
Doesn’t anyone see that we are living in a giant bank/FedReserve ponzi scheme ruining the shreds of our once vibrant economy?
How long will our fiat currency last? What will happen when China, and all those other countries stop buying our electronic $? What will happen when they stop buying our paper?
If news reports are correct, they are buying all the gold and silver they can get their hands on, while we clueless frogs, slowly being boiled, fail to notice that most of the world is in an economic mess that hasn’t been seen since early last century. We are lulled by the ever increasing value of the Dow/Jones, failing to realize that it is just the latest tulip mania bubble, dressed up by “Wizard of Oz” cable channel (but corporate approved) news readers.
Most of our production here is the USA is gone to “over there”, and we are now pretending our economy is flourishing because of McDonald’s and Walmart greeters, and taking in each other’s laundry.
Our grandchildren are working at minimum wage jobs, with college debts that they may not ever be able to pay off. They can’t afford to buy houses, appliances, or start families - no wonder, all they can do is line up to buy iPhones and Pads.
And, don’t get me started on health care costs!
I think it is just a matter of time until the increasing complexity of trying to keep our civilization afloat reaches a breaking point, and I share the mood of those elderly relatives you all have mentioned - I weep for my grandchildren, who do not have any skills, knowledge, or mindset - to grow, hunt, can, sew, knit, make soap, knit, repair, carpentry, and so forth and so on.
My only wonder is which sector will devolve the faster - the urban areas or the suburban McMansions. My prediction is that the former will be shooting their neighbors, and the latter their families.
Disgusting that so few can see the oncoming storm of societal collapse, and boy, do I hope I am totally wrong. Please, someone, paint me a believable picture of a way put of this mess.
Having a bad time tonight - the latest disgusting news about how our government is failing at every level only deepens the gloom. I am afraid we only have another 9 months before the SRHTF, and I don’t like the feeling.
If the Gold Hawkers REALLY thought Gold was going to be huge, they would’ve just quietly bought it and cornered the market.
The only people selling physical metal are the fools.
Paper investment in precious metals is a bad joke. No paper investment can withstand a real crisis.
The only pressure on gold is due to the false strength of the dollar caused by the tumbling value of Europe.
Don’t react to it unless you are holding paper, in which case you lost a long time ago.