reply to post by sligtlyskeptical
"There is no fundamental basis for gold to go higher from here and based on fundamentals alone, gold should be back at $400. Speculation comes and
goes and when it goes, industrial demand will be the only support for gold."
Forgive anything that might sound harsh, but the profound ignorance of your statement that I quote above, it's almost too much to address, since
you're obviously miles behind the curve. (You could try a few pages in this thread, lots of replies do in fact share good info.)
But, I wanted to comment, mainly because after 11 pages in this thread, I'm certainly not astounded by ignorance anymore when it comes to a total
lack of knowledge concerning precious metals. Reply, after reply, people who do not "get it". No, they don't own any (naturally). Sure, they can
talk to someone who does own it, and who understands it, but instead of humbly begging-off, since they have no experience of it, they have their
opinions to share. Recommendation: Try listening, to learn something, when you don't know anything about a topic.
I'm sure I'm not alone, but what we're seeing is a lot of knee-jerk reaction, people spouting off their programming, and trying to find objections
whenever they encounter that rare bird who understands gold.
Thankfully, there are quite a few who are open enough, and I applaud those who will consider ideas that are new, without resorting to non-productive
Speaking of utter nonsense..."industrial demand will be the only support for gold." My goodness, even the shills for gold suppression would never
say anything that ridiculous. Or perhaps you were just thinking far into the future, Federation of Planets and all?
"Industrial demand" for gold has always played a bit part, it's not a relevant issue, in comparison to 6,000 years of history, where gold has
played the role of thee most significant commodity, ever (until the rise of oil in the last century). This is because gold is "real" money, in a
world where ALL governments have gone to fiat.
This is the huge backdrop in this play, the context if you will, of the current situation with gold. The whole world has gone mad with funny money,
and no one has ever been fool enough, to assert that it would go on forever, not even the vile John Maynard Keynes, who is given credit for really
getting the modern ball rolling with universal fiat.
Another critical thing to always consider, is not what our humble neighbors (again, irrelevant). It's always been the opinions of people who MATTER
that count, and by this I mean the wealthy, the banksters, those who have spoken loudest by virtue of the fact that they control almost all
this despised commodity. Why would this be?
This could lead into a whole other subset of objections, namely, that category that proclaims severe confiscation risk
by the government, as if
it was an argument "not" to own gold. Use a bit of logic people! It's precisely the OPPOSITE that would be true. The mere fact that governments
have confiscated in the past, that they control gold tightly in the present, should lead you to suspect, at the very least, that this thing called
gold is extremely important to "them". Even if you refuse to look into "why" this is, at least concede that it could itself be a better
indication of true value, than opinions from those who have no clue, and are too lazy to do the research.
Do I dare ask for any kind of data backing up this choice statement?
"...based on fundamentals alone, gold should be back at $400."
Really? "Fundamentals"? Precisely what would those be? "$400"?? You do mean US Dollars, don't you? You do realize that US Dollars do NOT
indicate the "value" of gold, again, it's exactly BACKWARDS. It is gold that indicates the relative LACK of value in those dollars, that can't
seem to purchase the same amount of gold that they used to.
I could use the word "elementary", but it might come of as condescending, and that would not be my intent. And when I say "you", believe me, I do
not mean "you" alone, but the legion of those out there who are so far behind the curve, it's almost not even worth an attempt to educate them.
But notice, there are many here in the ATS community that DO seem to care, and will share their experience, even if it should be despised.
SO, how do I know anything at all?
Is it just because I read more history? Listen, I work this, day in, and day out. For the past dozen
years, as the metals market went bullish, I have been in the trenches. There is a world out there that would shock you, at your level, if you were to
encounter it first-hand. It's a world of absolute rubbish and lies from the media and the government. A constant "soothing" message, in spite of
it all, and all along, MASSIVE, chronic SCARCITY
when it comes to precious metals, that boggles the mind at times.
Here's a reality check for you. How many know that it would take just ONE billionaire (and there are thousands in the world), to "corner" the
teenie, tiny, silver market? Just ONE. It's already happened of course, when Warren Buffet made his play some years ago. Much more to this story,
but if you should ever get a chance to "do the math", you might be very surprised.
And then you have the naysayers, who can boldly step forward, after confronting this info, and say, "But the silver price is low. This alone proves
it's low value." Really? Have you ever actually tried to put your hands on any significant amount of it? Even a "small" investor, trying to buy
a few million dollars worth of physical, will be greeted by frustration. Why? Because there isn't any real, "physical" out there, to speak of.
All the coin dealers know this, and it's a time bomb, when it explodes, the silver price will go to the moon (along with gold).
Google up "Jason Hommel" for starters, if anyone is interested in reality. Yes, he now owns a coin shop in California, but long before he did, he
was sounding the alarm, even announcing a "preposterous" silver price of $8,000/oz. in the future. It is just crazy...until you decide to learn
some "fundamentals" about it.
The misinformation out there, that people swallow, it's amazing. I hope some will ignore the nonsense, and find the FACTS. They're "out