We continue to hear pundits describe gold as a bubble. Certainly it will turn into a bubble before this is all over but we are hardly in the bubble stage yet. In order for a bubble to form you need the public to come into an asset class. The public is pretty dim and it can take 15-20 years before they "catch on". It took 18 before they noticed the tech bubble.
Once they do start to "get it" we will have about a year to a year and a half as gold enters the parabolic stage before the bubble pops. See the Nasdaq chart below from late 98 to March of 2000.
At gold's top, half of your neighbors will be buying gold (not selling like they are doing now).
At the top there will be lines outside the the local coin dealer waiting for the next shipment of gold to come in.
At the top 7 of 10 billboards you see driving down the highway will have something to do with precious metals.
At the top the guy standing next to you in the grocery store will tell you how many thousands of dollars he made last month off his gold coins.
At the top everyone will have become convinced the dollar is toilet paper and will only continue to decline until it has become worthless.
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Gold Reclaims its Currency Status as the Global System Unravels
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All I know is it sure nice keeping your wealth, whether that be $100 or a million, close by.
ReplyDeleteNOTHING is worse that trusting in a bank to be there for you. They'll be there alright. With the doors locked while the dollar tanks.
Robby Noel on a Gold Bubble, as identified by CNBS.
ReplyDelete.
In the two minutes, he talks about their observation of a gold "bubble". I love his comment, "what a worthless financial channel that is." LOL
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It's funny. Almost everybody out there thinks we're in a banking/sovereign debt crisis. We're not. We're in an oil crisis.
ReplyDeleteWithout steady supply of cheap oil, the infinite growth financial/business paradigm comes apart.
To those of you who still don't get it. The Elite aren't going to waste the dwindling oil reserves on an out-of-control humanity who can't come to terms with breeding.
There are TOO many people in the world, including the United States of America.
We are entering a period of die off. Unfortunately, 5 billion or so people are going to die, with or without the assistance of a global war and/or pandemic.
I have reliable information on Saudi Arabia. The country has peaked in terms of oil production. It's now going after offshore sources, a sure sign it's running out. A few years back, the average income in that kingdom was USD $28,000 per people. Today it is a mere USD $6,000. Saudi Arabia has a severe population explosion problem as well. The royal family is going to fall. It's only a matter of time.
If BP is unable to perform a bottom kill in about 2 months (the soonest it can do so), the gusher(s) will result in shut down of all oil exploration and production, because of toxicity and fire hazards. On top of this, all oil destine for LOOP (Louisiana Offshore Oil Loop) will stop as well for the same reasons. That will cause a daily oil short-fall of at least 3.2 million barrels for America once the Strategic Petroleum Reserve runs out (assuming they choose to tap it).
Again. We're running out of cheap oil in a world that's hellbent in pursuing infinite growth.
If there's no oil, there's no stock market, very little mass produced food, virtually no transportation, virtually no pharmaceuticals, very little by way of plastics, etc. It takes between 27 and 45 barrels of oil to produce a car or light truck. Think about that. It currently take 10 calories of oil to produce and deliver one calorie of food to your grocery store. Think about that too.
OIL. It's all you need to know.
One last thing. America is not going to enter a depression. It's going to collapse outright. If you have gold and silver, but no way to access food and protection, you're done. Most U.S. cities are death traps.
Carry on.
I am 256. Top? There will be NO top in Gold; count on it. Life as you know it is about to change. Got Gold?
ReplyDeleteWhat are you going to do take your gold to walmart to pay for your food.What good is it alls you can do is make jewlerly out of it.
ReplyDeleteI am 256. And don't worry about your neighbor; they won't be able to acquire any as there won't be any available.
ReplyDeleteYou all still believe there's a depression coming? Look at the markets! Have you ever seen this much profit! They're booming!
ReplyDeleteI don't understand why the doom and gloom attitude with this much wealth abound.
7:59 what are you going to do with you US Dollar take it to Walmart or other when it is worthless? Gold and Silver are not foolproof but maybe better taking a chance on them instead of the USA Dollar. No one is saying only have gold and silver they are saying have food, water, guns/ammo and then gold and silver.
ReplyDeleteWell said, 7:24. Those pushing Gold, or any financial instrument at this time, are duplicitous and do not have your best interests at heart.
ReplyDeleteYou will hand over your gold to the New World Bank at gun point. In return you will get a one way ticket to your designated FEMA camp.
ReplyDeleteBuy yourself a good gas mask, AR15, AK47, or whatever you feel comfortable with. Then stock up on lead, not gold. Ammo will have tremendous barter value after martial law is declared.