If had just a tiny gram of Gold for everyone that said 'Gold bubble' over the last 3 years I think I'd own ALL the Gold ever mined and ALL the metal still in the ground. Want proof that Gold isn't in a bubble? The average man/women in the street hasn't got a clue what it's been doing. Can't say that about internet stocks 1998 or real estate 2005 where EVERYONE KNEW and was talking about them/it. Gold is only a financial story at the moment, it's far from mainstream.
Do you know the % the US economy is subsidized?Do you know how much indicies droped?Do you know how much it should drop?Do you know % left for gold to soar? Do you know the warm progress under the stars?Do you know we exist?
No steps are being taken to thwart gold's rise (as was the case in 1980). Until then, gold will continue to climb and ET will continue to post "gold bubble threads".
Exactly, when the latest of the late birds are chirping...not right now when the average person thinks it's too late...people with (IMO) off base ideas have been calling it a bubble at 600, at 800, at 1100...on and on. I've been looking ahead to 2500. as the fourth or fifth inning of this run. All that being said I'm looking for a 100 to 200 point pullback short-term, RSI level on many timeframes is extremely overbought, chart gone parabolic, etc.
Listen to Warrior, he's no mug. Now, for all your 'bubble' callers this is the real reason Gold is going up - IT'S A VOTE AGAINST (and safe hangout) FROM GOVERNMENT INCOMPETENCE. Now, even a retard knows how well Governments have been performing over the last 4 years. Gold will therefore fall (or level out) when the markets feel Governments are getting their collective acts together. How will they get their acts together? It's a 2 step process, stop whatever they've been doing and start taking radical action. Both are extremely unlikely over the next few years as Governments only tend to do the right thing when they're absolutely forced to, ie they're in complete panic mode and have NO other options left. We are not at that stage yet. So if you think Governments and leadership will improve over the next few years then either sell your Gold (if you have any) or have a few nibbles at the short side. But if you think as I and many others do that the leadership (US/Europe) are totally useless and/or corrupt then I have got 3 words for ya - BUY MORE GOLD. PS. Also be prepared for plenty of $100 daily up/down moves from here. The bubble callers will say 'I told you so' as soon as as it drops $150 or more but since when have they ever been right? So click buy, don't use margin (or very little) and FOCUS ON THE BIG PICTURE, not whether it's up or down today, this week or even this month. Start acting correctly, like a sensible long term investor and don't think that every move means something, it doesn't.
Reality is since Nixon unilaterally abandoned Bretton Woods the US has printed and circulated 45x more currency then the 1972 $35/ ounce pegged rate. We had printed 20x up to 2008 before the bailouts. In 2008 at 20x, gold would be approx $700/ounce and now that we have circulated 45x the currency reserves of 1972 we are sitting $4535 per ounce. This is assuming we still have the same amount of gold reserves we had in 1972. Gaddafi, Hussein, Strause-Khan all were looking to move away from the $ and look where they are today.
Exactly. And the more financial crises, gov't spending/stimulus "solutions," debt problems, wars, etc., worldwide, the more gold will move up--with plenty of volatility and retracements, of course. There's already a sort of de facto gold standard.
Hilarious. We have two people who actually address and debate the real issue, then a dozen more who blindly spout off with the same ole irrelevant pro-gold, anti-fiat rant. This has nothing to do with fiat vs. non-fiat. The fact that only a couple of you have grasped this so far only confirms my suspicions. Wish I could make money off of this but this level of stupid will die hard, and there no easy way for me to be a 'long term short.' There is no need for a gold standard, because such 'standards' were necessary due only to pre-eletronic age illiquidity. If we return to commodity-backed money, it'll be some kind of exotic weighted basket thing. Or do you think the countries of the world will happily elect the USA to become even richer than we already are? (fort knox + the Fed's vault...) Gold to hit an inflation-adjusted $300 within our lifetimes. That is all. You may now return to your mindless and irrelevant anti-fiat regurgitations.
the bubble is in the stages of forming.. look at the physical gold fund. did that even exist 1- years ago?