5000.00 Gold!!?? (Bloomberg article)
Posted June 23rd, 2008 by gavination
output
If Gold goes to 5000.00 where will Silver be?
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All
The markets are down. DOW,NASDAQ,S&P. Check it out on any financial page. Yahoo or MSNBC. Anyone of them. Why has this not been front page news. Its a continuation from Fridays drop. Can someone help me out as to why no one is covering this.
You can't trust the media for financial information
Or for anything, for that matter.
I've been studying the markets carefully since November 2007, and the media constantly hides the truth.
Here's a blog I recommend everyone I know: http://market-ticker.denn...
Karl Denninger posts news and studies of his own and from people who post on his public forum, located at http://www.tickerforum.or.... If you want to be informed, I suggest you read what these guys say.
I do not think it will ever
I do not think it will ever reach that amount. Ever. Our dollar used to be tied to gold and $35.00 would buy an ounce of it. The price of gold relatively buys the same things it always did, even in inflation. If it went to that amount, then a pair of shoes, a good suit and a belt would cost $5,000. That makes no sense at all. That is what an ounce of gold has bought since Roman times.
I don't think it is that far
I don't think it is that far fetched.
In 1915, Henry Ford had the cost of a Model T down to $440. In today's dollar's adjusted for inflation, that is $9,005.23.
WHOA! As of this writing, GOLD DOWN $21.00 and SILVER DOWN
$0.66 according to KITCO. Is this PUMP AND DUMP or what? This is just an impression that I got, but outside of DP, less people seem to be interested in silver based on the declining number of messages that are posted on a message board that I've been checking for years. Also, everytime I look at so many silver for sale on eBAY, I really wonder if these things would be worth more in the near future. But, having said that, I would not be surprised if Gold and Silver had one more up leg. I just don't know. As for me, as long as I have to pay bills and taxes in USD, I'm saving USD. But, that's just me. Many people here seem to disagree with me.
"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson
Normal correction happening......
.
Folks, the BIG bomb hasn't dropped on our economy yet (or at least most people haven't gotten the memo).
Once the faith in our dollar is lost by other countries and by our citizens, or if a disaster hits (PNAC boys) the normal gold/silver cycles are going to look silly.
It ain't even BEGUN to get interesting yet.
.
Patrick
Polk County, Florida
Not HyperInflation
If you read the article (which I also posted yesterday), you will see that what this columnist is talking about is simply a transfer of portfolios from stocks and bonds to gold to fight inflation.
If there was only a ten percent shift in portfolios to precious medals, that would mean $13.5 trillion dollars on new investment. That alone would drive gold up dramatically, and this does not take into account the actual effect of inflation on the price of gold. If we reach a period of hyper-inflation, all bets are off on how high gold would actually go.
This is an article about supply and demand. Even a small shift in demand could equal huge gains in the precious metals market. On the flip side, when interest wains, you could see an equal drop in value.
I think it WILL reach that value...............but......
.
........will it also come at a price?: ........chaos in the streets?............martial law?
.
Patrick
Polk County, Florida
HYPE
I love silver and would love to see hyperinflation, but I think that's fearmongering propaganda.
Has nothing to do with "loving" silver and I'm not sure why
anyone would love to see hyperinflation.
Guess the quadrillion dollar derivative market that's showing cracks of failing is fear mongering propaganda too. So to, the falling dollar and the crashing real estate market.
Take a minute and have a look at a 5-year rhodium chart and you'll see exactly what's going to happen with silver.
___________
Lisa C.
“Elections are short term efforts; revolutions are long term projects.”
--Ron Paul
Join the rEVOLution here: http://www.campaignforlib...
Rhodium?
food freedom,one seed at a time.
Please explain what Rhodium has to do with silver prices.I buy junk silver as a hedge to pay off my mortgage if times get really bad.Why did Rhodium prices rise like this?
Talking Peak
10:1 Silver Gold
5000 : 500
$500 Ounce silver.
A house is equivalent to 1000 ounces of Silver, some have said it will peak at 500 ounces for a home.
So .. $500,000 home, 500 ounce silver.
It's very dependant on the posibility of hyperinflation.
Then, just add zeros.
Look towards derivatives for how many zeros, as all that money will try to find a home in Precious metals.
1000 TRILLION dollars and climbing.
etc and so forth.
Using historical ratios and barring "interference",
silver should be roughly $250/oz when gold hits $5,000.
___________
Lisa C.
“Elections are short term efforts; revolutions are long term projects.”
--Ron Paul
Join the rEVOLution here: http://www.campaignforlib...
And Gasoline & Milk...
...would be roughly $65.00 a gallon, and comic books about thirty bucks a pop. Generally speaking, fortunes aren't usually MADE with metals, they are PRESERVED. If you haven't already, convert a big chunk of your savings into gold and silver.
Caveat Emptor!
Professor Bernardo de la Paz
I went for the gusto
I converted all of it then leveraged the hell out of it. It's do or die. If it comes to "die", I'll yank my full home equity line and leave the bank with another default/forclosure and walk away from the rest of the equity. I could care less about a credit rating. Especially after the mess I'm watching day by day. Never had credit aside from one car loan a long time ago. Won't need it tomorrow either. I could live in a one room dirt floor cabin, burning melted pig fat in lanterns and it wouldn't bother me a bit.
I think....
I think you broke my irony detector.
My Shelfari page
lol
lol
I thought gas was $65 a gallon?
___________
Lisa C.
“Elections are short term efforts; revolutions are long term projects.”
--Ron Paul
Join the rEVOLution here: http://www.campaignforlib...
Once Bloomberg starts saying
Once Bloomberg starts saying 5K an ounce, is it time to sell? I don't trust these guys.
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