"I've been paying attention to these claims for years. Too bad you haven't."
And for years the claims were bogus. There was a bear market in gold and silver for 20 years. The smart people look for the bottom and buy. That bottom was put in during April 2001. I bought in June 2001. I am not a goldbug, I was totally invested in stocks (100%) until January 2000
The Dow fell about 35% from its peak to its low (10/9/2002). The bulls have been crowing that “the bottom has been reached and we are in a new bull market.” It has risen 15% (and currently declining) since its low.
The S&P 500 fell 45% from its peak to its low (10/9/2002). The bulls have been crowing that “the bottom has been reached and we are in a new bull market.” It has risen 15% (and currently declining) since its low.
Gold fell about 70% from its peak (Jan 1980) to its low ($253 in 7/1999). It has since risen over 30% since then. The bulls have been crowing that “the bottom has been reached and we are in a new bull market.” Which of these bulls is more likely to be right?
Again I ask, what dog are you betting on?
Again I ask, what dog are you betting on?None of the above, actually.
It's just amusing as hell to read the GATA conspiracy theorists and their ever-moving target for when all hell breaks loose in the gold derivatives market.
That figure used to be $280 back in 1999. Now it's closing on $350. If gold keeps rising, I'm willing to bet that the "magical doomsday price" will stay just ahead of the actual price...because it allows outfits like Blanchard to keep shilling away.