It just broke 10 yesterday. By the end of this bear market, one ounce of gold will buy the Dow, just as it did in 1932 and 1980. In the short-lived Panic of ’07, it only dropped to 2 ounces.
Gold is money, and in deflation, that’s what you want. I still think gold should fall to $600 or lower after this panic buying subsides and people need to sell it just to pay their bills and debts. Also, the reality of deflation hasn’t begun to set in yet — people are still looking in the rear-view mirror at inflation. A lot of gold bugs are going to bug out when their hyperinflation scenario doesn’t pan out soon. Their timing will be awful, because we will eventually (I’m talking years) get hard-core inflation after the new New Deal kicks in.
THIS IS THE SAME WAY IT LOOKS TO ME.
I SOLD HARD GOLD AND SILVER IN AUG. I WANT TO BUY BACK BUT $550 FOR GOLD AND 5 OR 8 FOR SILVER LOOKS LIKE THE RIGHT NUMBER. COULD GOLD GO TO $300? SILVER $3? YES!!! IF THE DOW TANKS TO 700 YES 700, WHAT WILL GOLD BE? WE MUST GO BACK ON GOLD STANDARD!!! TO MANY MOVING TARGETS FOR EVEN A SUPER COMPUTER TO FIND VALUE OF ANYTHING,
WHAT IS MONEY? REALLY? DEBIT IS MONEY. NO DEBIT , NO MONEY.
DEBIT IS TRUST, DO YOU TRUST ANYONE???????
LOTS MORE PAIN TO COME. ALL FROM DEBIT AND DISTRUST.
Well said. I don’t think we could hit 700, but we could go to zero, meaning no more market, which we could get if the government keeps expanding.