Correct this paper scheme is going to fold up eventually and probably sooner than later. They just keep push it off kicking that can down the road. I just don't see why precious metals would be the new flavor because they're somewhat rare and used in the past.
In my opinion $100k in 2000 is pretty much the same worth in 2013. You can get about the same amount in material items. Gold and Oil on the other hand, have inflated to astronomical levels without much sense.
There's no guarantee when paper folds up gold will be worth anything. It could just be a shiny brick to look at because it doesn't have much value besides humans using it as currency in the past. Oil is just ridiculous though and makes no sense. There has not been a decline in the oil found. Demand may have risen due to more people overall, but to go up ten fold makes no sense to me. Commodities are as ponzi as fiat in my opinion. It's the same people running the show.
The gold bugs and fiat pushers are one in the same. I suppose the difference is that fiat is here to stay and gold is currently speculative that one day it will back currency. I think gold is a bigger gamble than equities because central bankers aren't going to dive into a currency that cannot directly manipulate.
Who knows what's to come, but my target for gold end of year is now 1300, up from 1285. We all saw the buying slow down around 1500, value players are taking the profits from the dump in April.
I went short Gold Futures (june '13) on open at 1440 looking to cover 1420 for a nice scalp
News 
Market Data 
Discover 
AI
