What Do You Think Is Going To Happen Next?

what is all this JOE stuff I keep reading? Link to the where it started?

I think 6 hours and 19 minutes has to be some sort of record for a huge hurdle to be skooshed on ccf.

I think it was closer to 3 hours Fred

Well, that's just it, isn't it? None of us knows what the future holds. About all we can do is make our best educated guess and go from there.

As to the price of gold, that is the real question. The gold market is much bigger than the silver market so it is far less susceptible to market manipulation and the price volatility that results. Many of the BIG banks hold gold in their vaults as part of their reserves. Of course, we can't call it currency reserves because Uncle Ben insists that "gold is not money", even though 6,000 years of human experience tells us that it is. No, it is not accepted everywhere one might want to spend some but so what? There are a lot of valid currencies in the world that cannot be spent just anywhere. Dollars work well in the US for buying things but if you go to the UK you will HAVE to change those dollars into British pounds before you can go shopping.

Personally, I find the price of gold more than a bit scary. It just keeps going up and up and then up some more, as if there was no limit to its rise. I don't know... maybe there isn't a limit to its rise. Again, history tells us otherwise. Gold and all other commodities are rather famous for their boom and bust cycles. Gold is clearly in a boom cycle right now and has been since about 2001. The trick is... for how much longer? No one knows this. What we do know is that there is a LOT of fear in the financial markets right now and a lot of people have sold off their paper assets and bought gold because of it. When (if?) that fear is reduced, we will see some gold selling and money flowing back into stocks, bonds, real estate, etc.

Because of all this, buying a physical gold ETF could make more sense than buying physical gold itself. Once the golden worm turns, it will likely do so VERY quickly... probably far too quickly for anyone to sell much of their physical gold. An ETF, on the other hand, can be sold VERY rapidly via a few mouse clicks. One can also use a trailing stop on an ETF for some downside protection. Yes, I know, it is not perfect. But it IS PDG.

And that is my (perhaps) educated opinion.

Great thoughts an points Ed, and I figure if it did turn back south, one may still have the option of a 24 hour to 3 day auction on ebay to dump the physical if one really got nervous. I know when it hits free fall it will fall fast, but because of the US economy and other nations, endless trillions of debt, a world wide financial disaster on the brink, I really doubt a multiple day drop of lets say 100 dollars a day for like a week is gonna happen. Which would be a major free fall I think we all would agree and a window for many perhaps....

I posted that one thread about selling at 2 grand, but again I am thinkin long term, so a dip in gold prices to 14 or 15 hundred is just that, a buying window IMO. Ten, fifteen, or twenty years down the road, good chance it will have gotten back to 2 grand an went way beyond by then I figure....

If gold does not slow down and keeps pace, I figure 2500 by Christmas is a real possibility now, and not just a speculators pipe dream....

I think to many home owners might be defaulting on there loans do to a declining jobs market.