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Why Gold $10,000 should make you feel queasy...
Submitted by Coreadrin on Thu, 09/10/2009 - 00:04
in
New blog post! $994 /oz right now. Also if anyone is interested I'm looking for some feedback so feel free to message me here or email me: » |
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thanks for all the responses guys!!
Like I have made clear in most of my posts I completely agree with what you guys say on a philosophical level, a moral level, and every other way imaginable.
However, I am a trader at heart and I have been through some scalding lessons over the past 8 years of doing it. Right now I feel that this is not the right time to buy gold. Last fall through january I was loading up on silver with about 30% of the cashout on my put options. lol I'm the silver king of my family!
But on a historical level in sheer volume the dollar is so extended and sentiment is too negative. My trading side is telling me that there is going to be a sharp reversal of all these trends (i.e. gold and silver are going to fall in tandem with the markets at least one more time).
If we have a "sneaky" bull run in gold and silver after a bottom reversal then I will gladly profess my view that gold is going higher - but I just don't think now is the time.
Thanks again for all the feedback - much appreciated! Keep up the good fight, all - awesome news (unless some surprise twist) on HR1207!
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
It's late August and I'm 80% cash and 20% long term Puts AGAINST the market. Gold is also going down. Want to know why?
http://www.investophoria.com
- - - - - - - - - - - - - - - - - - - - - - - - - - - -
Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.
I don't know
About the rest.
But
I may have a messed up view of owning PM but here goes.
I own PM not to get rich.
I own it to save my ass when gold goes to 10k.
While everyone else is scrambling to scrounge up FRNs to afford food and water I will be able to stay afloat and survive with that 1oz of gold.
Its not about getting rich its about retaining the value of your savings and staying financially flexible when the dollar goes belly up.
If that's the wrong way to look at the situation could someone inform me so I can make corrections before this dollar bubble bursts?
I looked closer at that article and sadly the average income transfers of Canadians has what to do with our problems over here?
if your savings is in frn's
if your savings is in frn's or urban property you will lose your ass. I will say it again for the 10 millionth time.. 4 to 6 billion (estimate) ounces of gold on the face of the planet.. over 6 billion people.. a third of the people on the planet.. the chinese, have just been told by their government to buy gold and silver.. 1 billion ounces of silver on the planet in tradeable form.
there is even less silver per person.. MUCH less... so if gold went to 10k and all the people panic to buy you don't think silver will go north of 100.00 an ounce? BUY ALL YOU CAN.. the precious metals will make you rich at this time.. not only will it be a hedge against inflation, it will be the old supply and demand for these metals.. do the math.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Mark Twain:
"I am more concerned with the return of my money than the return on my money."
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Just
Want to ride out the storm intact...somewhat.
Would the complete
Would the complete destruction of the dollar stop the killing of innocent victims by our war machine? That alone is good reason to wish for it.
I'd also prefer to live in a wrecked economy with green shoots of liberty rather than in a stifling but still functioning economy with government health care and carbon taxes on cow farts and a camera on every street corner.
Bring it on!
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of course it wouldn't stop,
of course it wouldn't stop, we'll just transision to another fiat currency and the rape cycle will repeat itself
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato
Maybe, but...
Something like 500 debased and fiat currencies have failed in the course of history and I believe that in most cases the (ir)responsible regimes went down with the currency.
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Regimes are fronts for the real power structure
It hasn't changed. Now they have technology. Have you seen the Fed tour video? Indentichip?
Explore Orthodox Christianity
No, haven't seen that video.
No, haven't seen that video.
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It's a little spooky
http://www.youtube.com/watch?v=ZeAiJzGW6vk
Explore Orthodox Christianity
Slow Connection, Only Watched A Minute
But I can tell you right now I don't want no fancy hovercar, I just want my liberty, dammit!
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