Make sure you are getting phsyical during this paper raid, same as always. Banks are borrowing trillions to stay afloat as I write this. The economy is stil in free fall. The US government debt ceiling is about to be breached again. Gold is no where near 10k yet. It will be well over 10k when this is all over. Nothing they do will make the current paper system survive. They aready broke faith with it. Unbacked paper money won't be back for a generation.
>>>My suggestion for goldbugs like you would be to buy a few Assualt rifles and have a good stock pile of food and then invest the rest of your money in companies such as a ge or kft....because if the dollar collapses GE with its 100's of billions in debt will do alot better than gold...so will kraft which has plenty of debt and sells food.<<<
And what makes you think that bugs haven't already done that YEARS ago? The only exception is that part where we should throw our money down a rat hole by giving it to GE and KFT. NO THANK YOU! We exchange our fiat for REAL money, gold and silver.
***I just used GE and Kft as examples of companies with a lot of debt. Feel free to pick other companies. In the German hyperinflation companies that produced goods and had heavy machinery and plants with debt did better than everything....including gold. Money becomes worthless...goods do not...goods are just as valuable as gold. Read your history.
>>>A 4 year trend line was broken in gold...the chart is broken....today was a chance to get out.....<<<
Charts, schmarts. The best indicator in existence is HISTORY and CURRENT EVENTS and NOTHING has changed in this world TODAY that causes it go down legitimately, except manipulation. If anything, it is a time to BUY. This country is almost 16 Trillion in DEBT with another 16 Trillion that the FED gave away to corporations and other governments, and you believe in CHARTS, lol? Wake up and look around, turn on the TV, the radio, read reports and books, surf the net and learn. Good grief!
***The biggest current event is that GLD'S chart is broken.
>>>CNBC had some of the biggest and most convincing gold bulls on today...it was no coincidence....sucking out some more buyers before it all comes grumbling back down to $1000 or lower per oz.<<<
>>>Just my opinion....but the chart doesn't lie.<<<
Once again, CHARTS SCHMARTS.
There are lies and dam lies, then there are STATISTICS - Mark Twain
***Statistics? Like the money printing of 16 trillion stat? If you comprehended how much production is going on in the world today you would understand why there is so much money being "printed".
Because your response was basically an example of your wishful thinking...let me respond.
At your request:
>>>Paper money bear raids?<<<
Yeah, a raid. As in "stick 'em up and give me your gold!" Another way of saying it is, "YOU got screwed if you sold your gold".
>>>Gold starting climbing when the GLD etf came out in I believe the $40 price range.<<<
GLD inception, share price was $44.43, Nov 18, 2004
PHYSICAL GOL began to climb in 2002, two years earlier, and has climbed steadily since 2002 to where it is today.
***Gold began to climb from $375 to $425 in large part because of the anticipation of the GLD etf. at $375 it was still more than half its all time high. To say that the GLD ETF is not largly responsible for the Gold buying is either being insincere or just plain naive.
>>>It was the GLD that pushed Gold prices up....so to say that when GLD sells off it is only a bear raid might be wishful thinking on your part but it is simply not true. Went up because of paper and will go down because of paper. You might also want to know that dealers are offering spot or below for Gold and Silver.....a few months ago they were offering over spot almost everywhere.<<<
It's call M-A-N-I-P-U-L-A-T-I-O-N. If I were you, I would learn the real definition of it before you lose it all. It's good that dealers are offering such low prices for metal 'cuz it sounds like a deal to me, lol.
***So it was all fine and dandy when it was going up but if it goes down it must be Manipulation?...and the Dealers are buying under spot...and selling above to "deal finders" like yourself.
>>>Also..although I am not a buffet fan you seem to miss his point...there are better ways to preserve your capital than gold...unless you think we are going to turn into the book "the road"...and even in that case guns are better than gold.<<<
Bugs have missed the point??? Oh is that right! FYI, guys like us are LIGHT YEARS ahead of you paper patsies. "the road"???? mystery there. As for guns, gold buys those guns, including the ammo. As for your denial of Buffett, but your affinity to guns and paper, you seem a little confused and not quite disconnected from the dark side yet. You need a little more to learn from history and current events, then you will be able to make the transition from funny money to gold. After that is done, your gold, guns and bunker will be in harmony with the stars, lol.
***The road is a novel by the famous author Cormac Mccarthy. It is a post-apocalyptic tale of a journey of a father and his young son trying to survive.
Did you write the "nothing has changed" post without considering all the poopy in your pants?
Because that counts as something that has changed.
Crapping your pants as this tanks.
fyi-The pain hasnt even started yet.
Gold and silver MONEY have been around for close to 6,000 years. The dollar has been around for 150 years, a blink of the eye as compared to REAL money, gold and silver. MOST fiat based currencies last about 150 to 200 years. GOODBYE dollar and good riddance jzandmebuddies!
I know this is going to be lost on you. But gold only goes down in fake paper raids. Physical has already bottomed. By that I mean, the large physical buying kicked in at 1650. It is just a matter of time before paper gets overwhelmed again.
You can call people names and pretend that there is hope for paper money. But every major crisis has been easy to predict. I heard Buffett say no one can predict a crisis. Maybe that helps him sleep at night. But it is clear to me he has no head for the macro or history. There is a crisis going on right now in US government paper. It has happened before. There is one solution to our currency crisis.
I really hope that you pick up an ounce or two for safety. Because the DOW and gold are probably going to converge between 6k and 20k before the final outcome is decided. Gold is a global money market. It cannot be controlled.