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Think back to mid-July 2008, when gold was pushing higher and was again within spitting distance of $1,000. How did you feel? Were you optimistic? Excited? Of course, and so was I. But what did that optimism have to do with the reasons for gold’s rise? Nothing! You were happy and tingling because gold was moving your way – yet it was rising because inflation was climbing, the dollar had a long-term illness, the government was printing money, banks were failing, falling house prices were threatening the solvency of more lenders, long-term oil supply was dwindling, and the economy was faltering.
Don’t wait for me to ask. Ask yourself: which of those factors have changed in the last 30 days? NONE! None! none!
Whats up with gold? Wher is it going?
ReplyDeleteThink back to mid-July 2008, when gold was pushing higher and was again within spitting distance of $1,000. How did you feel? Were you optimistic? Excited? Of course, and so was I. But what did that optimism have to do with the reasons for gold’s rise? Nothing! You were happy and tingling because gold was moving your way – yet it was rising because inflation was climbing, the dollar had a long-term illness, the government was printing money, banks were failing, falling house prices were threatening the solvency of more lenders, long-term oil supply was dwindling, and the economy was faltering.
Don’t wait for me to ask. Ask yourself: which of those factors have changed in the last 30 days? NONE! None! none!