It's Hard Damned Work...
being this good. Props to Red for pointing this out... but please... Please take a moment to read the following, which your humble host posted on April 29, 2004:
With Gold closing at $387/oz you can hear the screetching for miles. Even way down under JaimeR is pissing on about how good it is to be out of metals right now.
There is universal worry in the commodities area, though it's not reached panic yet. People will say that Gold has lost 40 bucks per ounce and note the falling sky.
Listen up girls. You only lose if you sell when the price is low. If you bought when gold was at 400, and now it's at 380, you don't sell. You buy more and you wait. I'm personally kicking myself because I don't have anything to make a buy with. I would love to wait till the middle of next week. I still feel anything below 400 is a good deal, because the economy is on quicksand. There is a correction coming that could go back as far as 300 years. We're talking gloom and doom here people. Dog and Cats, living together... Mass Hysteria.
Real Estate, i.e. debt, has propped the US economy up for far to long. The FED has backed themselves into a corner. They have a pissed off hungry bear called inflation pacing around them looking to make them a meal. They keep tossing him bloody steaks in the form of low intereste rates, to stave him off. Now they are running out of steaks though, and they see the Bear is getting board with them anyhow. The FED will soon have to raise rates. When they do, things may teeter for a while, but eventually the rates will hit 8% or so... and that will be that. Without the new debt coming in, the house of cards falls apart.Once it dies, 10 bucks an ounce of Gold won't matter one bit. It'll be chump change.
Buy low and hoard people. Buy low and hoard!
Now.. for those of you who're paying attention... Gold hit 514.00 today and is still climbing. I sincerely hope you listened back then. If you did you made over 100 bucks per ounce... and well.. that fricken rocks.
You would all do well to also note that Vox's predictions are neither this specific, nor this right.
I am very pleased with this... as everything seems to be going along as I predicted... as the feds raise rates... the price of gold goes up. The Crash Protection Team is busy at work... performing miracles and keeping the zombie walking.. but the Real Estate Market that they are using for crutches is having the rug pulled out from under it.
$500 bucks is a nice turn over... but my advice???
$1200 per ounce is coming.