When Obama was elected, gold was at 750. The POG increased more under the first year of Obama than Carter's first year (130 to 160). FWIW, by Carter's last year gold was 850 and tumbled dramatically when Reagan was elected. Care to guess why? Same reason Iran held American hostages when Carter was in the White House and immediately released them when Reagan took office. The world knew that the utter incompententcy of the Carter years were at an end. Don't hold your breath on today's price of gold. Do you have the slightest grasp of what Obamacare, Cap n Trade and the "Son of Tarp" (coming soon) will do to the value of the U.S. dollar?
So, you should be long gold. In fact, if you really believe the propaganda bull$hit that you just wrote, then you should have at least a 50% allocation in gold.
You can tell what people really believe by what they do with their money.
Last spring when all of the pundits were whining about how bad Obama was for the markets, they were actually buying stocks as hard as they could go, pushing the S&P up 26% for the year.
When everyone on tv,radio,and print talk something up it is time to get out. While i bought GLD @ 92.50, i sold at 116.75. I should have sold the day before but i saw this as overbought and had a gut feeling.
I listen to Bloomberg and CNBC radio on my commute; the commercials are different on the radio than on TV, lots of small business scammer type stuff.
Three or four years ago every frickin' commercial was Loral Langmeir or some other program for flipping houses. Now every commercial ends with "call now for your free packet on how to start investing in gold today."
I'm not short gold, because you'd have to be an idiot to short a bubble, but bubble it is- that I guarantee.
And what do you get for listening to ben Bernake? I am so glad you trust himand timmy so much so keep on buying what they tell you to buy tool. By the way most gold bugs bought before Beck said anything about gold. You just post hyperbole because thats all a libtard can do. Also, glad gold going down so I can buy more.
Listen, Skippy, I put my money where my mouth is, and I'll put my returns against anyone's on this board. That's why I like the markets: you don't have to debate opinion. We keep score here.
While Bush destroyed the S&P's value by negative 40% (with policies that you right-wingers cheered), I increased my portfolio by about 150% over the same period of time.
Maybe you should stick to listening to FOX and leave the markets to people with triple digit IQs.