It's not even just about international currency values. When your wages barely move but bread costs 20$ a loaf you're going to be very very concerned, but when that happens people will scurry to gold. The worse things get, the more value gold and silver have.
I don't plan to invest everything into gold, just in case I'm wrong and there is no economic catastrophe, so it's a win win for me. Either the market goes boom and gold skyrockets, or it doesn't, in which case gold will decrease gradually as people become more and more secure, and i'll have to decide when to get out. We'll see.
It sets my mind at ease. Only option to do if you believe the economy won't last long. And I'm not even in the states. That's why I'm not in such a hurry, CAD currency may last a bit longer.
Gold has had value since the moment man discovered it, just like jewels. That will never fade away. Even when the economy was healthy, gold was still valuable.
Last edited by Death's Chill; 05-15-2012 at 16:43.
So where is EE now? His stupid silver also collapsed from 45$ to 28$.
Meanwhile if you bought something like AGNC 6 months ago you'd be up 20%.
People were making fun of peter Schiff when gold had it's last correction. The problem is that it was up from the time he was buying it. Again short term trends for the ignorant are a curse.
It's like the whole world suddenly can only see 2 feet or 2 seconds ahead of it. No one has any patience anymore or any consideration for long term planning.
Does anyone else realize how ridiculous it is to watch a market become crippled by bubbles only to see sub-cultures of society create their own bubbles for fear of what the market might do because of a bubble?
It's a ripple of fucking retarded non-sense.
P.s. your fears just got rode all the way to the bank. It looks like China cashed in on them?