Well, now even the Fed has acknowledged that the recent employment numbers so highly touted by the Mass Media are mostly hot air. Remember that 270,000 full time jobs were eliminated during June. And the Fed has come clean and told the world that - Well, we were just jerking you around the last couple months to keep you confused and out of things we hate like GOLD. So now we must grudgling admit that we will continue to ease until the end of time and debase your currecy by all possible means. After such a dramatic pullback and with the reality of the situation out there for even the most reluctant to see, it appears that gold has bottomed. There were HUGE buy orders for Physical entered during the recent smash. Now someone has to find that gold to fill those orders in the future. Don't let them have your gold for that purpose. May the slime balls sweat. Maybe our day has finally arrived. Stay tuned as this may get interesting. Good luck to all.
Good post.. you obviously understand the macro picture that most do not. It's this understanding that leads one to continue to accumulate gold particularly at these levels. It's not a question of if, it's a question of when. There's no way out for the fed or this broken economy. They have to keep printing now until eternity and hope for 2% growth. The gun is now empty.
The Feds primary job is to make money for the banks that own it and to see that the execs there get huge, obscene bonuses. They have fulfilled that mandate nicely. They have been strip-mining savers for over 4 years now. They wish they had any type of exit strategy but are making this up as they go along trying not to crash the system although their owners profit nicely from the crashes. At some point the pain for the majority will become so great (aka many European countries now) that the entire system will be tossed out and the elite minority that is now benefiting will disappear into South America or some other unknown location. Gold is really the only answer. It is painfully difficult to get yourself to move into it in any quantity that will actually do you some good when the brown stuff hits the fan. You just have to buy physical and hold on. I had planned to trade the miners and take the cash away, but I bought too soon. Hopefully I can break even on the miners if they eventually run.