Post by midwesterner (banned) on Dec 30, 2010 13:59:58 GMT -5
Those of your that dis gold and silver I promise will look very silly and embarrassed in the coming couple years. The fundementals are ripe for a Gold and Silver bull market. Those that think gold is overpriced still haven't accounted for inflation adjusted highs of the 1980's high, which puts it around $2000 an ounce.
This also doesn't account for QE, Bailouts, Pumping the market, global financial crisis, dollar and fiat money crisis we are in the middle of right now.
[glow=red,2,300]I BOLDLY STATE THIS SO YOU CAN MARK MY WORDS WHEN THE DAY COMES YOU CAN ALL REFLECT ON THIS AND SEE GOOD OLE MID WAS CORRECT AND SAW THIS COMING. [/glow]
Gold and Silver are going up, and governments are hording gold and silver. China is not selling it's gold. China and Brasil are not trading in dollars anymore. Russia is buying up IMF gold along with India. Germany won't sell it's gold. Talks between eastern and Russian nations are looking to dump dollar which has started. Countries are not buying our debt, and we are bankrupt. Hyperinflation is on the way with the continuation of QE. States are broke and despare need of funds. 40+ million on food stamps, and unemployment is closer to 22% from private statistics. We have gutted our manufacturing. Food and oil prices are going up from the dollar losing it's reserve currency status. 5-6 bucks a gallon is predicted, on scale with rest of world.
If you don't have any physical metals in your profolio, your going to be very sorry.
Post by midwesterner (banned) on Dec 30, 2010 14:53:27 GMT -5
Mid Most people have some Gold in there portfolios.
The problem I have is that since the market hasnt collapsed like you guys have been telling us every day for a year and a half you have now switched to how great Gold is.
Yeah not yet, but the cards are all stacked up and ready to fall. You have to look at banking, economics, history and the currency crisis. This all ties together, if you look at parts of the puzzle and not the whole puzzle you won't see what's happening.
Many here think USA is immune to any sort of economic crisis because they haven't experienced it. This is changing fast, if there is no need to hold dollars to purchase oil, and we print like crazy, then why would demand USA dollar anymore?
In fact history shows us these sort of situations happening over and over throughout the world, 20th century has some examples on a smaller scale.
The funny thing is, Mid keeps talking metal but on other threads he talks about his "mining stocks" as if gold and mining stock is one and the same. It's also interesting that these guys were talking about derivitives until about 3 months ago and didn't make a peep about gold until it hit $1200. Nothing like waiting to call a trend until after it runs up 50%. Quite a prediction eh?
Post by midwesterner (banned) on Dec 30, 2010 15:08:22 GMT -5
From the looks of the chart above. I would say Mid has perfect timing for the opposite to occur.
35% correction in a very short time. Am I being unethical and immoral again? How will this effect my patriotic position.
Kman, you are now being sarcastic. Sure Gold and Silver go up and down and will be rollercoster, but the trend is upward.
You being unpatriotic, not for saying that. Pumping money into zombie banks and companies for self advancement is fueling this mess and is unpatriotic. Tax payers are ones affected, and you have openly stated your postion your have no moral issues with profiting off of our blood sweat and tears.
Donate your profits to charity, and I'll retract my opinion of you, but until then you know in your soul it was crooked.
Line of credit I Believe. The banks are now setting them up with new lines. The gov will increase their holdings in AIG from 80% to 90% and convert it to common stock....to be sold latter. Existing shareholders will receive warrants for about $45.00 a share.
Nothing is a "sure thing" anymore...in fact "sure things" never existed. People can be lulled int o a false sense of security with years, or decades, of growth, however " what goes up, must come down". All empires rose from the dust. All empires, eventually, collapse into the dust. The one culture/country/civilization that has been running the longest is China. They have an on-going, recorded, history going back over 4,000 years. www.metmuseum.org/toah/hd/shzh/hd_shzh.htm Gold and silver have been valued in China ( and elsewhere for that matter) throughout it's history of thousands of years. The same is true for India. Russia, China and India are urging their citizens to buy precious metals. That fact alone will should at least stabilize the price, if not make prices go higher ( over one billion people in each of India, China +wanting to purchase a limited material=price stabilization/rise ).I purchased physical gold when it was at the "psychological barrier" price of 700 dollars an ounce. I'm happy I did so. China has recently decided to stop it's exportation of rare earth minerals; those which are used extensively in new technologies. news.yahoo.com/s/nm/20101230/bs_nm/us_china_rareearth Since China now mines/produces 97% of the world's supply , this will cause, at least initially until other mines can go back into production, a scarcity of these needed materials which will cause the prices to rise. Supply. Demand. Pretty basic concepts.
Last Edit: Dec 30, 2010 16:21:31 GMT -5 by comokate - Back to Top