Spot Gold Price & The Bailout & Dollar Effect
The nice thing about being in gold as opposed to dollars right now is that the dollar is very much in heads the dollar loses, tails gold wins territory right now. Bonds are expensive, the dollar is overvalued. If things improve, the risk aversion tade will unwind. If not, the horrifying balance sheet of the US Treasury will come into play. It's impossible to imagine the dollar doing well in this market, at least relative to gold (which is the one true store of value and thus the only thing that matters).
The euro may well do even worse, but overall the only thing you want to own right now is gold. Arizona gold prospecting
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I think gold is going up and I’m looking for a good, hard, downturn to go double dog long. I think oil might lead the way. This imposter of a bail out plan is going to be dis-robed by good old oil and gold.
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Because of clever manipulations of gold swaps and leases and other paper games and in some cases even outright sales of physical gold by governments that are desperately trying to keep the right to print money, most people are unaware or still not convinced of the value of the precious metals and don’t consider paper to be just that paper… yet.
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Why isn’t the gold standard a financial system flexible enough for our global economy? I’ll see a gold standard financial system more stable and eliminates unnecessary man-made fluctuation which is risk. This in turn eliminates necessity for hedging and other complicated instruments that takes care (but they don’t) of this part of the risk.
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Not owning gold is like skipping the fire insurance – it saves you a few dollars per month at the risk of losing everything. I wonder if anybody is getting it yet.
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Can gold go up further? Sure, but can it go down spectacularly? Yes. I believe the risk reward on Gold is not good. With Gold you are simply betting that the system is going to fail. It’s a possibility, but still a long shot. If the market stabilizes and the crisis relaxes, Gold will fall as people return to other investments. Someone will be left holding the bag.
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Gold, silver and coins are the only forms of money to survive the test of time and I believe they will still be used as a store of wealth long after America’s paper and imaginary/electronic money becomes synonymous with the German Reichsmark in the history books
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This is a huge flight to safety in highly (hyper?) inflationary times. I expect the miners and producers to follow the price of gold up soon.
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Increasing the money supply does create inflation regardless of whether the money is used for spending or to pay down debt. I went to a fairly large coin dealer and they were completely out of silver and had very little gold.
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