No offense to Jakegint, but gold is for 2nd class morons. The type of people who buy gold call themselves “bugs” and stockpile food, waiting for the end of civilization. In their heads, they imagine a world, not too much different from the Lord of the Rings, where the Federal Reserve are evil monsters trying to feast on the flesh of the righteous humans. These miscreants make stupid videos and talk all day long about fiat currency and how China is going to stop buying our fucking bonds.
Well, I got news for the Peter Schiff crowd: that shit will NEVER happen, at least in your lifetime—unless of course the Chinese are into afflicting grave depression upon their populace, which in turn will lead to an armed revolution.
Ladies and idiots, America has the world by the short hairs. As a result, buy the dips, sell the rips.
The banking crisis has been put on hold, for at least another 3 years. So, you might as well get used to not running out of food or the dollar going “Zimbabwe.”
In short, gold has been going up due to asset allocation. Money managers and sovereign wealth funds have been buying the yellow metal, mainly because of the idea that it is an alternative to paper money. However, in reality, the only viable purpose a gold brick would serve during a financial collapse would be to bash in your neighbors skull for stealing your crops.
Some of you are short gold, via [[DZZ]] or [[DGZ]] . I can’t get into that sort of thing now. Stocks, bonds and commodities are irrational these days. In my opinion, it makes little sense to get in front of the “Gold Bug Express.” However, just know, it is filled with idiots.
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