speaking of Prechter. My Grandfather was big time into Elliot wave. I remember him reading Prechters books that were twice as thick as the bible. Not only did he read them he reread them 2 or 3 times.
Didn't make any sense to me at the time that the price of gold and silver would go down during a depression and he said.. No one would have any money to buy. So like most of the Prechterite cult here I was thinking, gee save my dollars and a 500k house will go for 25k and pay cash for it and I can buy silver at 1.00 and gold at 125.00 an ounce. We still bought metals for insurance just in case Prechter was wrong. You see this BS reasoning on the daily paul all the time. But this is where Prechter makes his mistake. Stupid, Prechter worshipping Americans may not have the money, and that is really a mute argument as 0nly maybe 1% of the American population has any gold or silver of any significance, But what about the demand from those Chinese? Russians? Indians? Arabs. and the rest of Asia? What about Japan? You know all those countries with reserves? the Countries that actually work and produce? Of course back in the 80's and early 90's those Asian countries were not where they are today.
Prechter does not see that the there are 2 forms of the precious metals. the physical market and the paper market. Soon the paper market is about to crash and burn. The manipulation is just about over. The Federal government, through the big banks will not be able to manipulate the markets any more to keep the US dollar viable. At that time, especially in this thread there will be wailing and gnashing of teeth.
Now think about this. 7 billion people on this planet. 6 billion ounces of gold exist. and even worse, only maybe 1 billion ounces of silver. Do the math. Don't be a fool trying to buy your physical metals at the same time Not for real and TX are. there will be no metals to buy. as most of it is in Asia now.
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