How low will it go down afterwards? :roll:
Timing parabolic moves is impossible.
Good luck.
First of all, it really isn’t “parabolic” it is “exponential.”
If I’m right, and we hit $2K this year, it’s because I was right about the dollar collapsing and we’ll never see gold below $2K again. I’ll know a lot more tomorrow when we hear from Jackson Hole meeting.
No, it is definitely parabolic just like silver was.
Do you remember the Hunt Bothers?
It will fail and fail hard.
Is this the one? maybe or maybe not
This is all fear based.
I don’t know any more than you when it will fail.
I just know it will.
Bernake is out of bullets and though the market wants QE3 the bluff will be called eventually.
The world will not go on buying our debt forever.
Correct. Which means we have to make up for the difference by printing. Which means the dollar debases. Which means it takes more dollars to buy an ounce of gold.
Nothing to do with fear.
If we print. We crash.
Good luck to us all.
We’ve been printing, and tomorrow, we may discover that we’re going to print even more.
Gold… to da moon!
Printing unbacked currency in massive quanities ALWAYS results in collapse.
Show me where it didn’t.
Correct again. A collapse in the currency, which is why you’ll need more currency to buy hard assets like precious metals, heavy equipment, and farmland.
Gold is NOT currency.
And when the government decides to take it away, they will via transaction taxes or outright confiscation.
Good luck.
Machine tools bought at fire sale prices would be my advice in the event of a collapse.
There will be a lot of rebuilding to do if we survive at all.
That’s what long term investing is all about…
Gold is not an investment.
It’s a shiny metal that trades on fear.
Don’t over do it is all I am going to say.
Just ask those that went all in the real estate market in 2005.
Oops.
Correct, gold is not currency. It is the opposite of fiat currency. So as our currency becomes worth less due to printing, you need more currency to buy an ounce of gold.
Tran action taxes or confiscation.
Please do not think it cannot happen.
It has before.
Why should I worry that someday some government will confiscate gold… might as well worry about a meteorite hitting the earth. That has happened before too.
Better to worry about the confiscation the government is engaged in now. And that is the confiscation of the purchasing power of your paper money. You can do something to stop that today. Trade your paper for hard assets like gold.
Nick, if this government survives they will come for the gold.
Worry about the f u c k I n g nitwits on this board in this industry who are so f u c k I n g stupid that they not only voted for this moron Obama but will vote for him again. That’s what you need to worry about.
You know what they say Joe,
“ignorance is a choice but you you can’t fix stupid”
Enough said.
The Tea Party did the best that they could and they should be commended for their efforts… but in the end they couldn’t stop the deficit spending.
The Tea Party, Michele Bachmann, and Ron Paul, like me, have to face reality… we lost. We tried, but we failed. We lost. The over spending will continue, which means the printing will continue… so as to cover the spending, which means the dollar’s dive will continue, which means the price of gold’s climb will continue.
See ya at $2K!