Pulling The Trigger
181 replies to this topic
Posted 04 December 2002 - 02:12 AM
i am a confessed gold shtunk-ive thrown everything i have into gold(except for bearx)--every time i take a leak i see my alchemical powers exemplified in my ability to transform diet pepsi and budweiser into liquid gold i fancy myself as having discovered the philosophers stone;i've gotten my dearest friend into a monstrously large gold position--
The above and an invincible foolhardiness are my credentials for expostulating on the future of gold--
I use a story told by weiss(weiss safe money report) and his father walking into brokers offices right after the 1929 gravitational warp and buying the living shit out of evrything in the stock and bond mortuary==he goes on to say that inthe immediate aftermath things were so bad that TREASURIES were devalued being sold like crazy--I liken treasuries a little bit to the closest paper thing to gold--anyway his explanation of the general decline (more of an avalanche) and the reason "super secure" T's hit the deck was that everyone and all at once NEEDED CASH ,and thus started to jettison evrything salable in sight--selling everything not nailed down-in the short term everything fell
My question to anyone out there is:Is this the scenario MAESTRO Prechter is ENVISIONING AND FOR HOW LONG IS HE PREDICTING THIS golden decline and fa ll???? beardrech
Posted 04 December 2002 - 04:26 AM
Maybe, but let's not forget that in '29, paper notes were backed by gold. There was no difference between the two except that cash was highly liquid and immediately convertible into anything else. Thus it was freely accepted. In fact it was virtually all that was accepted. Gold had to be weighed, assayed and valued then converted into a rapidly disappearing commodity aka cash. Contrast that with today. No one needs cash, yet, but by the time we reach a point where credit cards are no longer accepted where do you think gold will be. There will be a flood into gold to protect savings. There will be no rush to the safety of dollars as the Fed will ensure we are awash in them. The coming crisis will be extreme.
If you fear for gold, then you must mount an alternative safe haven for your savings. Swiss Francs, maybe? Real Estate? Methinks, too late for that. No, the one thing that is still undervalued due to the cartel's manipulation is Gold. They are going to lose their grip for sure and soon. They just can't keep the balls in the air any longer. So, I reiterate, THE PLAY is short US equities and long Gold. If you wish to be more exotic then hold some foreign currency like I do (Stirling and Ozzie $) in fairly safe investments. Diversification is the key. And play the cycles, the big bad ones.
I have many opinions; but I strive not to act on them.
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