10-12-2010, 01:18 PM
Vanraw Wrote:Breand, I dont trade in currencies either. But note that your example statement is an excellent example of why Gold is strictly an emotional trade. The price is not going up due to lack of supply or increase in demand. Its going up because people are saying the "sky is falling". People think if all the markets crash then gold will be safe.
Frankly the only way that is true is if you have the actual gold in your basement or vault. Because owning a chunk of paper that says you own something would be useless in a time of war or cataclysmic event.
Im not saying people aren't making money on gold. they are. They propaganda;e will make more, but if you ask me it looks like a bubble to me because its not proped up with sustainable facts, except that "its going to keep going up".
Bubble alert.....
I agree. With the number of ads on Fox and conservative talk radio about "buy gold now", I'm suprised the price isn't higher. This entire run-up is almost entirely sponsored by conservative people like me preparing for armagedon (which only has a .00005% chance of actually occuring).
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison