Global Economy Bursting?

[Big ole Boy]

I bought more metal last week .... I do not expect metals to "ever" go lower again .....

... metals could go lower before ... but now that real estate is ballooned in price due to artficial unstatainable debt ...

.. real estate has no where to go .... the dollar is busted .... the american consumer is "middled" ....

... were about 25% in hard currency right now ...

 

[Couch Potato]

I bought more metal last week .... I do not expect metals to "ever" go lower again .....

... metals could go lower before ... but now that real estate is ballooned in price due to artficial unstatainable debt ...

.. real estate has no where to go .... the dollar is busted .... the american consumer is "middled" ....

... were about 25% in hard currency right now ...

History does not bode well for your expectation. Both gold and silver look to be in bubble mode right now.

Consider the platinum and palladium roller coasters.

Everyone knows the only thing that always goes up is real estate........

 

[Big ole Boy]

You may be right ...

... but I got tell ya .... History ... is a big word ......

... and when consider the fact that we are broke and over-promised on every horizon ...

... the dollar, in terms of history is just a blimp on the screen of time ....

.... for thousands of years ... empires rise and they fall ......

... trend lines only speak of a period of time where wealth seeks a short term safe haven .....

... the dollar ... and the global financial system ..... is busted .... for good ....

....

.... once the dollar does bust and my metals go sky high in price .... (I will still be far worse off) .....

.... so I am not gloating about my handle on things ......

... because things will only get worse for the current financial system ...

... and the new system will be ..... something none of us really want ...

...scratch and barter

 

[Couch Potato]

You won't see me selling off gold or silver anytime soon either in spite of the fact I think they are overpriced right now, but neither am I buying at these levels. I do not view the gold and silver I have as an "investment" that I expect to earn a return, but as an emergency reserve to preserve a base level of wealth. With luck the only transfer I ever make will be to my daughter when I die. Unfortunately, it looks more and more like I may need to use it someday for my own survival.

I don't know anyone who ever got rich speculating on the price of gold and silver, but I do recall Nelson Bunker Hunt was a billionaire in the 1970s, but filed for bankruptcy in 1988 largely do to silver speculation. Had he sold at the top of the market (or even within 20% of the top) he would have earned enough to bail out California.

The only metal I am purchasing regularly right now is coper jacketed lead.

 

[Big ole Boy]

Getting Rich

...I do not see anyone getting rich either ......

....I, on the otherhand see metals prices as artificially "under-priced" ..

.. (I will pick a number for the price of gold to make a point) ...



... I believe the price of gold per ounce is really around 1 million dollars per ounce ...

.... but , lets say I am correct for a second ...

... before the price of gold gets over .... say $4,000 an ounce ..... the system will begin to become transparent and then it will collapse ....


.... prices at that point will then trend upward until they will no longer become published or have relevance on the net or trading floors ....



... the price will begin to reflect what it can buy in terms of other things on the street ....


... and the street ....... will no longer be the street you and I are contemporarly familiar with ...

.... the street will be a war zone

...prices just reflect what DC is able exert on the dumb mass

... dumb mass will give way

.. to the universal tide of cause and effect ...

...fiat can only buy the illusion for the dumb mass, but for a brief moment in time .... (100 years or so) ---

.... eat your heart out Stephen Hawking

 

[Couch Potato]

Current gold prices are about 50% above the peak of 1974, and about 50% below the peak of 1980. Of course gold fell about 50% by 1976, and fell about 65% by 1982. If the price of gold dropped 50% from its current price, it would be a tad over what would be expected based on general prices of stuff. Consider that our current gasoline prices are inline with the prices of 1982. Like housing prices of 2006, current gold prices simply defy rational thinking.

 

[Terrel L. Shields]

The Hunt brothers were fools. Scumbags too. They bought a big ranch from the estate of Winthrop Rockefeller in McAlester, OK and when price of cattle was down and silver too, they "saved" money by not buying any hay. Some of the cattle died from starvation. I remember one very angry cowboy from those parts when I worked in that area. They finally lost their Austrailian Ranches in bankruptcy.

 

[Vetteman]

Heavy into metal?

David
You must have watched this video/infomercial being advertised on cable TV. Warning...very long and hypnotic presentation, but scary stuff.

www.endofamerica2011.com

 

[Big ole Boy]

I have been watching metal for 35 years ....

.. I have always believed that eventually the dollar would go bust ....

... I have forgotten more than I can currently recall to make the case for higher metal prices ...

.............

.... I don't care about old trends ...... they have nothing to do with the situation IMO ...

.... When I see charts where trends are shooting higher off the screen ...... what I see is the masses waking up ..... to the reality of the situation ....

..... indebtedness .... has nothing to do with old trend lines ...

.... unless of course ... people willingly jump at the chance to pay negative interest on a wide sustainable scale .....

..... I don't see that happening ......

.... I see a consuming fire ...... burning up the chaff ..... and the thorns .... I see a dead carcas ... called the financial system ....

 

[Couch Potato]

Ah yes. This time things are different.......

Metals are not good to eat.

Metals make awkward clothes.

Steel and aluminum are the best metals for shelter.

Invest accordingly.