That's interesting. I predicted a stock market crash some time later on this year, but I made my prediction about a year ago. Then there's the whole silver prediction thing that I already talked about. Silver cracked $45.00 an ounce today, and for those of you with "gold fever", gold cracked $1500 an ounce today.
I need to play the lottery.
You are playing the lottery at theseprices.. I am never a crybaby; I am happy that you have had luck with your silver and gold but what I am telling you is that when you spread the myths or justify those "investments" as superior to equities or other investments, you may mislead people who are inexperienced into making a dreadful error. You are not presently buying silver or gold; if you were, you would be out of your mind. Cheering the price of gold and silver seems to me to be akin to cheering some desperate person in the top of a skyscraper to jump. Some people respond to impulse suggestion and fall to their doom.
What an investor does when they broadcast like you do is to potentially mislead impulsive unseasoned investors to do stupid things. Your arguments in favor of gold and silver are arguments with no basis in historic support. The value of dollars is set in the futures markets not by the Fed Reserve. And there is a clear indication that the M1 money supply is not running out of control in fact, savings as a part of M2 is increasing suggesting that Ameicans are digging themselves out of debt not sinking more. The M1 says there is no inflation. But we have bubbles from speculators everywhere. Oil is up, silver, gold, wheat, cocoa, coffee. None are in short demand. So there is a fad at present to pour money into bubbling commodities even though to do so in necessities will damage the economies slow the recovery. Gold and Silver have zero potential to destroy anything but the impulsive investor so it is never important as compared to oil.
And please the fiat money argument of yours is weak. The reason gold and silver are so high is because there are lots of irrational metal bugs. Paper money is not going to go away in your life time or anyone's lifetime presently on earth. While the liberals have followed a rino and given us one mess of a recovery, very sluggish at best; it is a little late to be pushing precious metals as an answer to bernanke. Unless the M1 money supply is fed by Bernanke, there is no inflation for what the fed does with its own money even operating as a global backstop.
Human nature being what it is; conjures for itself fantasy of lottery riches. We just got through the housing bubble an it took all the expert flippers down with it. Nobody got out and stayed out. Instead they leveraged more and they got rolled. The same will happen in Gold and Silver and it takes out another unsophisticated investor class.
And do me a favor truth just because I look for bubbles to short that is my right. As I see it both gold and silver are in bubbles pushed by the the euphoria class of investors that always loose their shirts. It is my intent to ride the down elevator and I will continue to buy shorts and clear to gain positional advantage because I think the ride down is going to be spectacular.
How much idiocy can the press feed us... the beauty of bubbles is nobody listens they are too busy cheering the impulse buyers off the rooftops. That is why this bubble in precious metals will end in a splat and it will be a shockwave of a ride down.
You brag about your silver, look at equities I have owned for years like PX. It is a true industrial technology stock and its booming. It says exactly the opposite of what you and the precious metal bugs say. The long history of the metal bugs going splat on the windshield leads me to believe that PX is the real story. And I have owned it quietly without fanfare for years.
best regards
doug
Do I know how high Gold and Siver might go?..NO
