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Peter Schiff Sees Gold At $5,000
The congressional candidate is the latest to chime in on perspectives of where gold is going. This ties in with our expectations that the Fed's generous excess liquidity, coupled with a declining dollar, will likely see gold as the primary focus on new capital flows. If gold does really hit $5,000 expect a military coup by the various governors of the Fed.
As to Schiff's contention that a plunge in the dollar will be accompanied by Chinese dumping of Treasuries, we are not so sure it is that simple. Bernanke is well aware of the game of poker (where courtesy of the reserve currency he can raise into infinity, even on blind), and this is the only bluff he would be unable to respond to. Which is why the tacit assumption that China will keep USTs in exchange for Geithner backing off from allegations of renminbi manipulation, seems very sensible.
Either way, if Peter Schiff ultimately does get elected into Congress, it will be amusing to watch the Grayson-Schiff financially astute tag team take on the rest of their underedcuated associates, and hopefully, the administration and its flawed economic policies.
h/t Shanky
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I see gold being priceless, at least in dollar terms, if you catch my drift.
I am Chumbawamba.
drifting backward...
drifting my ass....it is in full bored balls to the
walls backwardation....
see kirby on latest....
http://news.goldseek.com/GoldSeek/1255111200.php
so cleverly has the gold cartel concealed
the truth that those relying on the public basis data
from comex think that we are in contango....
5000 usd misses the point - gold is in the process
of vanishing and no amount of fake money (frn) will
pull it out....
we are now in permanent backwardation and life
is about to get really ugly.....
that vast superstructure of derivative wealth
is evanescing into the ozone and with it economic
life...Fukuyama should have written his book 10 years
later....
It'll be a great opportunity for personal growth (I'm not joking)
After seeing him on televisions so often, I think that I'm beginning to understand his investment philosophy:
Step 1- Correctly identify the real estate bubble two years in advance
Step 2- Write a book ("Crash Proof")
Step 3- Become the economic advisor to a presidential candidate (Ron Paul)
Step 4- Short the dollar, and NOT the mortgage backed securities that you knew to be the epicenter of the bubble
Step 5- Rant and rave on TV about the eminent demise of the dollar
Step 6- Lose 60% to 80% of your investors’ money
Step 7- Rant and rave on television some more
Step 8- Write another book (“Crash Proof 2.0”)
Step 9- Run for Senate, where you can…
Step 10- Vote to cement the inevitable demise of the dollar, when you’ll have…
Step 11- Absolutely no fucking money left to use as collateral to sell the dollar/euro cross
Sounds pretty fucking foolproof to me… I’m in!
Why are all the idiotic comments Anonymous?
idiot does as idiot is....
You are so right! But some people just don't like fact to influence their opinions.
no body no bady but you~~she is the story the story is she..
maybe you have already know the song of she ..but if you know the story behind it? Cassava Flour Mill
Agree, at some point, very soon, it won't matter what the dollar price is.
Agree. Question is the timeframe.
I'm guessing around 2012.
You thinking Mayan calendar 12/21/2012 end date?
True date is October 28, 2011. Think of it as the end/beginning date. We're almost home.
I mean, I don't know about you - but when TSHTF I'm certainly gonna be seeking to conduct electricity with limited loss.
Gold bubble! Everyone in!
You mean "Dollar Bubble, Everyone Out!"
Thats whats happening.
Do not - I REPEAT DO NOT - ever say anything negative about gold in the blog comments on this site. Even the suggestion that gold could retrace at all is unacceptable.
You see, gold is completely different from every other asset class and so we have to repeatedly talk about the gains from gold ad nauseum. You will note that any trading of gold below $1000 is the result of nWo intervention - ZOMG GOLD NEVER GOES DOWN!
PS this also applies to any discussion about the USD rallying. Also - buy guns and canned beans for the coming civil war.
Agreed Dont forget the bankers. Can you say bigot?
i see that you have eaten the beans and then
some before the war has even started....in the quantities
you have taken, it could be lethal....
Get real. It's a bubble like the oil bubble last year. Longterm, 20 years, I'd say yes oil and gold will outperform most asset classes. Short-term, next 3-6 months, look for a major correction.
A correction, baseed on what?
What was the oil correction based on?
I'm going to guess and say we see gold on the cover of Time or Newsweek by the end of the year as the banksters try to suck in the last marginal buyers before they sweep the table. Thanks for playing, suckers!
If you're messing with paper gold maybe. But the hard stuff is a bargain today compared to what it will cost in the future. Nearer future than you probably realize. That hard stuff will always be *yours*, not some number in some brokerage house computer.
Btw, if gold's recent rise was based on the falling dollar then why isn't oil rising too? Answer: gold is becoming a store of wealth and smart people are starting to realize it.
I think you may have it right here. The big million dollar question is whether the gold price and gold stocks will get "pounded" again (like it did in Sep 08) if and when the stock market gets a much needed correction. If government manipulation keeps the markets soaring to the moon - I don't see a correction in gold any time soon. In which case I'm screwed because I got nervous and exited the markets completely about 3 weeks ago.
The dollar is the bubble - the biggest bubble in the history of mankind, and when it pops the BOOM will be heard round the world. BTW, a skyrocketing Gold price is EXACTLY how a dollar bubble pop should look like. Also, there will be NO "correction" in the short term. Looks like seems you missed the bus on that one.
Tell me that in a few months when gold is back at $850
I fart in your general direction.
I am Chumbawamba.
Just 850? Why not 250? If you are so confident, why not go all the way? ROTFL!
It's happened before.
It dropped a DOLLAR today. Why not go for 180? LOL
Only way gold is going back that low is if the markets crash down 75%. Even then, gold will be the sole asset to be only down ~20%. Itll look like a winner even then.
I'll be buying more again if it revisits $850...
I'll be buying more regardless. Whenever I have excess FRN it goes to metals.
I am Chumbawamba.
LOUD NOISES! HOW DARE YOU SIR!
j/k btw ...not likely that it goes back to 850.
@HEHEHE if you think gold is a bubble then short it. Dare ya.
I certainly would shot it nor snp.
Correction: "would not"
The dollar is quite problematic, but I don't see imminent failure quite yet. I think the greenback is oversold and the markets overbought. I see the dollar correcting up soon. In the long term, it's toast unless taxes are increased and drastic social/medical reforms are created....and to completely halt the US war machine. Cruise missles, spies, and drones are best solution for the Middle East.
The dollar "bubble" will pop alright. However, it is more of a reverse bubble right now. The Fed will raise interest rates & cut back on the printing press, just when most folks suspect it the least.
Happened before. Will happen again. When it happens, next round of deleveraging will take almost everything down. Gold should re-trace to the $650 area. Inflation & all that will come later.
Or not. Nobody knows for sure, but it is a pattern. The Big Banks are flush with capital. The Fed is planning on pulling excess liquidity from the Money Markets. The Big Banks will then be capitalized to buy up whatever they want, when D-Day hits/bottoms. Gold is their traditional sweet spot. They would wet themselves at $650, prior to it really taking off.
"The Fed will raise interest rates & cut back on the printing press, just when most folks suspect it the least."
uh, that would be about..........NOW.........ain't happenin'........
Inflationist and gold bull Mark Faber switched to the deflation camp:
"US Dollar Is No Longer Overvalued"
http://marcfaberblog.blogspot.com/2009/10/us-dollar-is-no-longer-overval...
I'm starting to think there may be no stock market correction either- just KA-POOM (itulip.com), total paradigm shift. People will have to confront themselves and learn to "go with the flow"- or not, we have infinite lifetimes to learn.
when TSHTF, i would rather have soup and tuna. i cant eat a bar of gold and the barter system has no currency
A barter system will last, like, 3 minutes. Then on to a new currency.
Agree, a new currency will initiate even before starting barter system.
Ah, but if the new currency has a gold component? Then the physical gold you purchased at this level would likely buy you a lot more "new currency" than the paper dollars (or digits in a computer) you would otherwise be trading.
We WON'T be going back to a 100% barter system - ask Argentinians.
Comparing a collapse of the US dollar with what happened in Argentina seems rather silly.
If the US falls, so does everyone else. I'm long tuna from here.
Oh really? That's an astounding amount of hubris.
"Opinions" are the next great bubble.
Mine is: an economic reformation has begun, to be played out over the next couple of years, ultimately resulting in the Dark Ages part 2.
Hedge that.
The truly last great bubble- ego.
Tuna only has a can shelf life of 6months to a year or so---What are you going to use to purchase tuna in the future? How are you going to store that purchasiing power? Hence 5000 years of GOLD history.
I'd rethink the tuna strategy. Heavy mercury pollution has the world stocks contaminated, plus over fishing has the population decrease fast.
Better yet, refine the mercury out of the tuna. Mercury will ride the wave of commodities up and might be worth a reasonable amount in future.
I am Chumbawamba.
Now there is a reasonable business idea for Bobby Prechter, considering he went bankrupt shorting the market and going long the dollar. And he can ride the commodities bull too while he's at it! Nice!
Hi Gordon_Gekko, are you still following RP? Every time i read his reports, i think of you and then remember to read with care.
Yeah, so I know what not to do.
IDK what how many seeds = an oz of gold now but i'd bet that it will be a lot less in 5-10 yrs.
Screw the tuna, I'm gonna sell sex, has worked for thousands of years.
One screww for 1/10th oz gold eagle
stupid says as stupid is....
what law says that just because the usa falls
with others that an argentinian result is not
possible? i argue it will be worse....
your logic is infantile...
Doesn't Schiff encourage his clients to get out of dollar denominated assets? If so, they'll miss the massive move he's predicting. If Gold does hit $5000 based on dollar devaluation only, that does not mean anything if your invested in Asia or Europe.
Also, unless war breaks out or hyperinflation (different to high inflation) than you may as well invest in anything that's dollar denominated like eggs, bicycles, light bulbs etc. $5000 gold would only confirm the weak dollar, doesn't mean it would make you richer.
No, it makes you 'less poor'. The idea of gold is as a store of value, to maintain purchasing power.
I think the idea of investing in foreign securities is diversification...?
more than diversification, i think it is for the currency risk he sees in the US$ and by investing outside of the US in countries with currencies that are stronger and appreciating, it adds to any growth you may have in the securities (or the opposite if the hypothesis fails...there are no guarantees!)
Very true. Schiff was correct about the phony US economy that developed over the past 20 years but every country in the world is running the printing presses right now, especially his and Rogers darling China, so why would only the US experience hyper-inflation? This bubble is going to collapse just like last years oil bubble.
In the long run would I rather have gold than fiat money? Yeah, but that doesn't change the fact a bubble is a bubble.
I love the way that every comment that is negative about gold is flagged... can't the gold bugs see that they are just as annoying, one eyed and repetitive as the shills on CNBC?
Right... let drive that thought to its logical conclusion: $5000 Gold may not make you richer. But $1 at a time when 1 ounce of gold is $5000 will have 1/5 the purchasing power it has today -- and that will surely mean you are poorer if you held onto the dollar instead of Gold.
And this is precisely the reason why buying gold is not an investment but rather an act of saving.
In a world gone crazy, buying a hunk of metal seems the sanest choice.
Edit: Who gives a shit what it is as long as it protects me from theft via inflation by the government and gives me the maximum possible return as compared to any other asset class.
Not I!
I just look for investments that might yield better returns. Over the long term the best returns will come from the saving power of gold since as many others on this site I see the collapse of mostly everything else. But in the meantime, as you might say, don't fight the fed. The fed obviously wants to suppress the price of gold. while this is its hardest task, it might just pull it off a bit longer.
If one bought Au in 2000 at USD$255/oz
http://www.kitco.com/charts/popup/au3650nyb.html
one would presently have roughly a %400 increase on that investment, not factoring inflation. Even with inflation factored in, there are *very few* things that have done better than Au in the past decade. Granted, this is not going to be the case over any given span of years, but given current market dynamics, it would appear Au may continue to have respectable returns for the foreseeable future.
If one bought Au in 1980 at USD$850/oz... not so great!!
It might not work the way you think.
But at least it will protect your purchasing power as opposed to hoarding FRN's. Gold will not rise solely in dollars but in all fiat currencies, just more in the dollar. I am not sure eggs and light bulbs are as fungible or indestructible as Gold. It WILL make you richer because it's extremely undervalued right now.
I have to disagree with you on this one.
Historical data contradicts your statement.
Yes, but he also heavily advocates precious metals. I believe he has said in the past that he holds about 50% of his personal account in metals and mining stocks. Further, he does not recommmend this allocation for his clients.
A mining stock bought on the Australian stock exchange will see the same benefit of leverage in the gold price as one in the US and you will also get the added currency play as the Australian dollar (likely) rises against the US dollar.
I am down with the miners as a play on gold, no substitute for the real thing, there are different dynamics at work to be sure, but they are a decent play. Schiff mentioned a couple the other day in his webcast that I was going to look into - cs.to and rbi.to. Haven't done my research yet so can't recommend myself.
I own Redback and Silvercorp (the other of the three mentioned). Would never recommend them to internet strangers, but I was happy to hear him talk.
Think of gold this way,,
Your running in place..
...while everybody else is on a backwards-moving conveyor belt...and then they see what a good deal gold is, so demand goes up.
You got it...
so when do the feds start confiscating gold?
As soon as you are stupid enough to give it to them.
+100
HA. Good one. Guns help. In fact, guns and gold go together like chocolate and peanut butter.
Yeah, they'll be getting my gold over my dead body.
They'll have to climb over the dead bodies of those who came before to try to take my gold. Mother fuckers.
I am Chumbawamba.
You two (Chump and Gekko) just don't get it.
If .gov outlaws gold and sets a redemption price of $200/oz, everyone will redeem their gold.
If you expect to use gold with a merchant when it's outlawed you're mistaken. You might as well try to rob a bank right now. You'll get the same amount of attention attempting to use gold when it's outlawed.
I know, I know, you'll use your guns and terminate the evil-doers like in the movies, right? Good luck kids.
you don't get it....
there will never be a successful outlaw of gold
just as there has never been a successful outlaw
of cocaine, marijuana, crystal meth
thanks for the ignorant prattle paris...
You don't know what you are talking about!
Agree. The analogy might be that family still lives in their foreclosure HOME.
Why confiscating? Comparing to the huge US deficit, gold is only a drop in the ocean.
Shortly after I run out of ammo?
NEM on the hunt in australia is a tell
with all due respect to those that are bullish on gold (i'm neither bear or bull, but do believe in the value of gold), Schiff has been saying 5 grand per ounce for a long time, no?
Schiff has been bullish on gold longer than most people can remember. He has been correct on this and many other calls.
Really? Has he been correct? You think gold's performance has been very good compared to alternatives?
Yes, very good.
Fool http://www.usagold.com/gold-price.html
Please go back to 1980.
S&P in gold terms is DOWN 80% from the pop of the tech bubble back in 00'
Back in 2006 he also said house prices were going to lose 30% of their value. I guess if you were reading those words in 2007 you would have laughed at him too.
His arguments have sound economic theory behind them, unlike some of the BS technical analysis you read on this site (oh, Gold is going back to $800 because it is going to hit its 900DMA, or whatever).
I have said it before, I will say it again - the Fed is going to have to support the MBS market until at least 2011. Printing that much money will destroy the USD.
Fed MBS buying is down 25% from its highs, which is exactly how much Fannie and Freddie issuance is down from its Q2 highs, so as a % of the market, the Fed has not slowed down at all. Their announcement that they were stretching their MBS dollars was pure bullshit - they knew the market had slowed and wouldn't be able to spend $1.25T before the end of the year.
They won't be stopping in March . Not March 2010 at least.
And that will kill the dollar relative to real money.
+1
When have those so-called "technical analysts" been right? Or so-called wave theory when every wave theorist has his own opinion as to which wave market indicators are currently at!
I am not Chumbawamba.
+10000
don't know how long he's been claiming gold at 5K, but i do know he believes the value of the DOW will eventually reach 1oz of gold. he believes at some point in the future the 2 of them will meet at the same price.
" Schiff has been saying 5 grand per ounce for a long time, no?"
About as long as folks here have been saying the stock market was going to go through the floor.
That's not a cow, but a steer (in your photo).
I am Chumbawamba (also not a cow).
Hey Chumbawamba how do you know its a steer and not a cow?
Cows have horns too.
yeah a steer.
and your a queer.
I also am not Chumbawamba.
Chumba - you are the first to notice, but cows have horns too
Chumbawamba, Your a funny fuck!!
Ya, and world would end...
But do you have any explanation for the correlation regarding DXY/SPX today?! Per your previous article
http://www.zerohedge.com/article/what-happens-if-when-dollar-rises
It seems DXY sky rocketed (bond sold off hard) and yet equity still positive... WTF?!
Skyrocket? 76.5 has been it's support for a while now. Skyrocket was Q1 this past year.
You have to love Schiff even if his gold price predictions are off the wall.
Funny, somebody said the same thing to a $1000 price prediction when Gold was at $250.
Sure, but that was inflation. The current price has more to do with speculation by ignoramuses, which is the key component of any bubble.
Neither inflation nor speculation account for this graph:
http://www.kitco.com/charts/popup/au3650nyb.html
The ignoramus didn't buy in 2000.
:-)
Just don't put a date on that prediction, Peter. Because your timing ain't all that.
Nobodys' is. Name one person who has perfectly timed every event over the past couple years. I read a lot of people, all who made good prognostications, many who made excellent ones, but the timing was always off. Jim Willie got it the closest on some of his calls, but even he (and Bob Chapman) got the whole martial law and dollar collapse thing wrong. Either it was based on intentional dis- or misinformation, or we're looking at the carnage to really begin in November, or early next year.
I am Chumbawamba.
I keep hearing this early Nov date for the dollar crisis.....or demise.
Jim Sinclair is also predicting it.....www.jsmineset.com
i see dead dollars * looks frightened under the table *
Cheeeeekeah!
Glad to see you post.
yes baby, im back, nice to see you
Before hooking onto this notion Mr. Schiff puts forth, ask yourself if gold pricing is currently based upon relational calculation(s), or inherent value. For your own fiscal well-being, don't demonstrate a level of naïveté indicating a belief that gold itself can't be bubbled by risk chasing. For what it's worth, St. Jim Rogers stated he wouldn't buy gold at this level.
As for the Federal Reserve Chairman's comments about addressing monetary tightening, controlling inflation, testing reverse repo action, it's a ruse. Once the reality beyond Q3 reporting season comes to the fore, fears of inflation will abate and evaporate. Enjoy a couple of weeks at play in equities, but keep an eye on the far end of the yield curve for bargain pricing of the long bond and real returns.
For the health of the forest, naturally occurring fires need to be allowed to burn out the accumulating dead wood.
Of course he does.
If you're a Conneticut resident you have an obligation to help get this man elected.
You don't even have to be a CT resident - I threw some of the fiatcos that my employer pays me his way.
Here is my prediction - in six months all the people bashing gold on this site will be gone, just like all the bears who were here six months ago are gone today.
$1.25T in MBS purchases, a number that will keep rising through 2011. WTF don't people understand about the implications of that?
Oh, I know, "that is a drop in the bucket compared to the money destroyed by decreasing credit". Yeah, there is a word for that theory: FAIL.
+100
Loved the CR catch on Frank - this is a policy decision on Housing FHA losses
Yes, that was quite the "tell", wasn't it? He basically admitted govt policy was to support house prices.
That is going to come at a cost. that cost will be the USD.
As I said before, the handwringing over a few billion for C4C was a laugh for me, given that Bernanke was printing $5B a DAY buying MBS. WTF don't people get. Let me say this in caps:
BERNANKE HAS CREATED 900B NEW USD IN LESS THAN NINE MONTHS TO BUY MBS.
Not only can he not sell those, he can't stop buying or the housing market tanks again. There are no buyers in volume for agency MBS at today's prices.
I predicted the MBS market would be Bernanke's Waterloo, and I am still 100% convinced of that today.
yes, ditto you are. I dont even care about the credit flow at this particular moment, but when i look into the future there is only one clear outcome out of all of this; dead dollar, gold numerated with mid 4 figure number, war and a rebuilding; i can not give you a time frame, but it will happen. So, buy gold, sit back and laugh at the game.
+1
5000 seems very far away, but gold at 2000 or 3000 would be a good start
+10000
+1E7
I am Chumbawamba.
I could not have said it better, and oh yes: FAIL!, FAIL!, FAIL!
Robert Prechter: FAIL!
Dollar-Deflation: FAIL!
US Dollar: FAIL!
US Government: FAIL!
HAHAHAHAHA; im LOLing so hard right now
Strong sentiment internationally that the U.S. Government will collapse within eighteen months. We are in so much shit that we forgot how much shit where in. Think of the last 2 years and what's happened that is unprecedented.
Right Gecko...Cause there's just SO much inflation out there. You Fail.
Deflation. Get used to it.
And the DXY isn't even close to all-time lows.
You gonna be here when gold trades $750?
I love when he's asked if people are too late to getting in here long in Gold - Schiff mentions something like "no way". Swear I heard some Cramer in that tone.
Inflation!!!! Oh no!!!! You guys have been saying this for a very long time now. Where is it?
Right Gecko...Cause there's just SO much inflation out there. You Fail.
Deflation. Get used to it.
And the DXY isn't even close to all-time lows.
You gonna be here when gold trades $750?
I love when he's asked if people are too late to getting in here long in Gold - Schiff mentions something like "no way". Swear I heard some Cramer in that tone.
Inflation!!!! Oh no!!!! You guys have been saying this for a very long time now. Where is it?
I'm with you, but it's all a matter of perspective - and timing.
First is the distinction between a rising stock market and a relative net increase in value as perceived by our joint cumulative delusion. Market goes up up up, and those of us who see catastrophic consequences look like fools to the uninitiated - meanwhile we've invested nothing real into our "recovery" except some misguided hopes and dreams fueled by a strong desire to be lied to. It's all a false yet self-fulfilling prophecy - or at least that is the hope.
At the end of the day, no one is looking out for us except each other - and with the way Americans are pissed off today - I doubt even that. Those who seek our complacent and misinformed approval will continually do whatever they can to serve their own interests, and so has it been since the recording of history. 99/100 times it's nothing more than highway robbery, a concept which assumes you even have something worth stealing.
You can attempt to preserve your wealth, but it will be in vain. You're all probably right. $$'s shit the bed, and golds the new, old king. Will it get us marginally further than we would have without it? Probably, but at the end of the day we are sill going to have to face the truth just like everyone else.
Whatever that truth may be, is shared the whole world around and is characterized by our willingness to embrace honest value, both intrinsic and deterministic and lift ourselves from the doldrums of economic slavery.
I'm goona continue to bash gold, since despite millennia of recorded history there are superior standards of contract and stores of value. The most fundamental of which is an honest nature and a firm handshake.
Guess it comes down to Comex warehouses and who demands delivery. If China and Arab countries are buying the contracts with intention of delivery, this thing could go parabolic.
Does the price of gold in some way benefit from the effects of fractional reserve lending? Plug that in.
Or does fractional reserve banking help to suppress the price?
Hmmm... While we are thinking, might as well consider everything, right?
Basically you are implying people are borrowing money and buying gold. That may be the case. But what about all the paper derivatives of gold that have been created, that people think represent gold, but might find out one day, doesn't exactly represent gold.
I don't doubt that the dollar will continue to slowly decline. Clearly Obama's Fed & Treasury are the most arrogant set of people in power in a long time (Bush's warmongering was a different kind of arrogance). But comparing a decline of housing of 30% to an increase in the price of gold of 500% seems a bit hopeful (I own gold). The dollar impacts the price of all commodities. So somehow we're going to have a lengthy recession (or mild depression) but all dollar-denominated things (oil, copper, corn, you name it) will increase 5-fold, or gold will have outsized gains because...? And we'll pay for that $10/gallon gas and $12 loaf of bread with our gold coins? At $1200/oz I'm a seller.
That 30% decline in house prices, and $5000 gold? They are connected. One is leading to the other.
Obama's not errorgant. He won a piece priiize.
roman polanski may be available to baby-sit for O.
Hello MsCreant! Enjoying the PM rocket ride? I hope you increased your allocation before this latest run up.
When Krugman won the Economics Nobel, from that moment on I knew the Nobels were WORTHLESS. The NYTimes is subtly trying to justify his ill-deserved prize (or maybe well-deserved, considering how worthless they are, because after all, Obama is the epitome of worthlessness - there is a new prize for ya - The Nobel Worthlessness/Hot-Air Prize) with pretty weak arguments:
Obama telling UN leaders that the US "intended" to begin a new era of "engagement" (is that really a good thing considering how the US "engaged" with Iraq?) with the world
Made an overture to Islamic world during a speech at Cairo University.
Sitting with the U.N. Secretary general Ban Ki-Moon (read: puppet)
And last but not the least:
Getting some shitheads...er..."leaders" from Israel and Palestine to shake hands (again), after which they bombed the hell out of each other...again.
Hi Gordon,
Enjoying the PM rocket ride, wishing I had more, and waiting for the dip that may not come. In many ways I am Chumbawamba. Gold, guns, gear, and garden. My tomatoes are still going nuts, I need to learn to can them. Three big watermelon need to come in off the vine. Berry bushes, apple trees had apples for the first time this year. I may take some of my cash and buy help in the garden. Too much to do.
Keep on rockin' us Gordo!
Don't wait for any dip. What is it today...like 1050? It's time to buy right now. There is a very limited downside with substantial upside right now with $1000 acting as the floor now. The reason I am recommending that you should buy now is that when the last upleg unfolded at the end of 2007, those waiting for a dip were left in the dust as prices screamed onward from $700 to $850 without any correction worth the name, and this time I expect the same to happen, only the rise will be much more. If you absolutely HAVE TO wait for a correction, then wait for it to hit 20 DMA again, but who knows what the price of gold will be when that happens? I can assure you that in 6 months you'll be extremely happy that you bought it now.
Good luck with the garden!
Gordon,
One good thing about the prize,,,He's gonna have a hard fucking time telling people why he bombed Iran.
He should have vetoed the thing if he had half a brain, VANITY OH VANITY.
In recent years I've started to question the validity of the whole Nobel Prize system. Now I know it is a complete and utter total joke, but with a decidedly unfunny punchline.
May as well give the prize to GW himself! Hey, can we borrow Hitler's skull from the Soviet archives and posthumously award him a Nobel as well?
I am Chumbawamba.