People have been pushing gold for years. I believe that will be the next thing to crash. I would have given it another two years, though. I have to admit that I will be surprised if it happens now.
It fell over $40.00/oz. on Friday.
For many, the real purpose of buying gold is NOT to make a profit in dollars, or in any other currency. It’s to use that gold AFTER the currency of the dollar has been devalued to zero, or near zero, and there is no alternate currency available.
It is to give you SOMETHING to use so you can purchase the necessities of life during such a time period, no matter how short.
If you’re buying gold to make a profit in dollars (or other currency), you’re not getting the point. That’s not to say that investing in gold for a profit is wrong, only that it’s not the purpose for which many are buying gold.
The gold bubble pop has been very nicely set up. When the dollar bounces back to about 1.3 - 1.5 pounds or makes significant gains on the Euro then the bubble will begin to pop.
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ACORN = OBAMA
OBAMA = ACORN
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STOCK = SOROS
SOROS = STOCK
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