I agree with that. The problem I have with gold right this minute is that I think it is in a fear induced bubble. The dollar is rising against other currencies and against consumer goods.
This means the outcome could be that gold, right this minute, is the next bubble, like oil, real estate and credit before that, etc. And like the oil bubble, it is very limited and will be very short lived, I suspect.
Since there is currently no inflation fear (as the economy collapses) I will wait to see if gold hits a peak. If it is like oil, we could see it drop below 500. Meanwhile, I am stocking up on useful commodities. things that have real value, like tools, food, clothing, guns, liquor. These things can actually be used beyond their “barter” value.
But I am watching gold VERY closely.
Yeah, I’m not buying now. I bought between 250 and 320. If it drops down to the 500- 600 level I will be back in. Long term, with the $$$$$$$$$$$$$$$$$$$$$$$$$$ debt we are piling up the price will go up, and I think quite a bit.