Posted on 06/20/2013 9:32:02 AM PDT by SeekAndFind
Don’t feel sorry for us Gold and Silver-bugs.
I am 20 Kg richer than I would otherwise have been, thanks to the shenanigans at the COMEX.
If silver stays this low I will buy more of it on payday.
Reminds of 1980. Gold hits $800 per ounce. The talking heads said it was a temporary pullback and the $800 level would be eclipsed.
They were right.
Eventually.
If you lived long enough.
The safe havens will have to have intrinsic value. Earlier this year I took a hunk of my savings and bought a house—for cash, fully paid-for. We all can see where Bernanke’s printing will lead and it was time to get out of cash.
Down 297.37(1.97%) 2:50PM EDT
Down 349.48(2.31%) 3:00PM EDT
Reminds of 1980.
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Sure gold fell after 1980/81 ,, we had Reagan and stellar economic growth , interest rates falling from 17/18% for a 30 year mortgage down to 7% ,, taxes cut , exports zooming ...
Sounds a lot like today huh?
Gold will always be a good store of wealth because it is convertible into ANY other currency,,, does anyone really care if your coins originated in South Africa or Austria or the USA ? nope .. it’s all GOLD.
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