spaceman spiff
Key Veteran
Location: Tucson
My Posts This: Topic Forum | | Quote |
| So spaceman, are you saying that gold is way over inflated ala the dot com era and housing bubble?
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Gold can't go bankrupt, but its value can go up and down like anything else. I think oil is a good example. People got all excited about the rise in oil, " we need it and the supply can't last forever", was the mantra. ( and who can argue? both are the truth ) Problem is those speculators drove prices up to 150$ a barrel, some made a lot of money, but as soon as demand dropped a tad, and more importantly the speculators no longer saw it as a money making proposition, they ran for the door, and those who sat still waiting for it to bounce back got crushed as the price dropped to 35$ in only months. Back around 80 now? Depending on when you bought and sold you either made money or got crushed. Gold goes up and down like that as well. It is at a historic high now....
A lady i know just sold all her gold a few weeks ago, and now taking a vacation in europe on procedes of other peoples fear and greed. When things calm down a bit she plans to start to buy it back for a fraction of what she sold it for, waiting for the next recession/vacation. |
(J/K!!!)
