Friday was a strong warning sign. I don't need glasses to see this storm coming. The dollar is going to strengthen over the next several month. The Fed is going to tighten and raise interest rates. Gold bugs are going to panic and try to sell/dump gold while it is still high. I see a $50 to $100 drop in gold on Monday and possibly 850 an ounce before Christmas. I really think the big gold sell off start in early January and we could see gold selling for around $400 a ounce by February. Out on Monday. Rather be safe then sorry.
Yea, Steve, your track record speaks for itself. And ah NO gold will not do anything close to what you have proclaimed.
What a friggen idiot.
Do you seriously think the dollar spike up can
continue next week?
Look at the USD index chart and it never lasted more
than 1 day.
Meanwhile, the monetary base of the US is expanding
with no sight of changing direction.
Actually the monetary base, the Feds bal sheet and Treasuries on bank bal sheets is not velocity of money, and velocity is not nearly the capital destruction of assets right now on Americans balance sheets, assets are falling in price, we have deflation right now, and all the gov't stimulous does not even come close to the deleveralgin of consumer balance sheets and asset values depreciating(deflating). It's only a bandaid on deflation. Stock manipulated asset bubbles will not cancel the asset destruction going on, and they will burst.
Now, you are betting on future inflation, on the Fed telling banks to cut loose and loan the crap out to anyone that breathes, and any crappy business idea will get a loan, and reflating consumers again. That is a spurious bet because there is a generational change in the debt & spend fantasy that new generations and retiring Baby Boomers are not going to repeat.
imagine the panic if it does start crashing 20 bucks a day for many days???? will be a bloodbath with people like John Paulson dumping GLD daily, etc
when word on the street is that he is selling, BOMBS away
John Paulson, the Rothschilds, the Rockefellers, China and I will all welcome a bloodbath in the price of gold early next week, so that we can all increase our physical gold holdings by dumping worthless fiat paper for it. China has $2 TRILLION in US dollars it has been waiting patiently to unload, and a steep break in the price of gold would be very welcome right now.
I'll buy yours right now if you give it a 10% haircut on the current price.
The FED starts raising rates, and granted it may drop gold prices, but than 6months later a barrage of foreclosures in real estate come onto the market. The Fed than says, "Uppsss.... we underestimated the intergity of the loan holder to repay at a higher interest rate. Sorry :( And so we must drop rates again and inject more printed money and taxpayer money into the system to re-stabilize." Gold soars to new highs on the news.
Oh no, you don't need glasses to see this storm coming. You just need a brain connected to your optic nerve. How could anyone believe such tripe. The basic fundamentals of how and why the dollar is losing value are still intact more than ever. Things are getting worse, friend, not better. The debt in this country is into the trillions and if Congressional thugs pass healthcare and bogus Cap and Trade then this country will be set for depression. Don't forget, wars cost money, and the extra add-on to the debt with the additional 30K troops scheduled for Afghanistan will drive our economy further into the toilet. Dollar value gets worse every day that passes as long as capitalism is being stuffed by the current administration. Damn, do you work for CNN or just plain stupid?