Posted on 07/18/2011 6:52:10 AM PDT by blam
$1600
Joe Weisenthal
Jul. 18, 2011, 4:34 AM
Congratulations to gold, which has broken over $1600, for a new, nominal all-time high.
Meanwhile, silver is back above $40, as the world races out of paper money ahead of looming disasters in the US or Europe.
(Excerpt) Read more at businessinsider.com ...
"All of you subscribers in the EU and UK get your funds out of the bank, now, and into gold and silver coins."
I once bought a stock that went from $11 to $28...didnt have to pay 5%+ to buy it, store it, insure it, and then 5% more to sell it....
Oh, bought other stocks that went up too...
Watch out below with gold...
When you think things can only go up, remember oil in July 2009 at $147 and 4 months later at $37...ouch
Gold might tank. Kramer is saying to buy it. A bad sign.
Finally, the time is right for me to invest.........in nose plugs so grandma will sleep with her mouth open and quality pliers for mining the "grandma lode"......
The great and powerful Roubini doesn't understand what inflation is (or doesn't explain it very well). The apparent low rate of price increases -- and I'm talking about all prices -- does not mean there's no inflation.
The expansion of the money supply by the Fed (17% just this year) is the inflation. It is doing its damage even as we speak.
It is covering up what would otherwise be price decreases due to a bad economy and normal productivity improvements; it is fueling a stock market bubble; and it is allowing the fed'l gov't. to continue to spend hundreds of billions of dollars at ridiculously low interest rates.
All of that must come crashing down sooner or later. People buying gold -- and central banks as well -- know that and are acting accordingly. Gold is not in a bubble.
The dollar's tanking.
I have found this website to be a very useful source of information on the economy, gold, and silver.
http://goldismoney.info/forums/
Oil did that before. Look at the shape of the price curve from 1980 through 1982. Same shape, different driver.
We're in uncharted territory with the things affecting Gold/Silver/Platinum prices, namely the insane generation of unprecedented stocks of fiat currencies. Gold prices are just a measure of the worth of the paper money as an exchange item.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.