I became very intrigued by the fact that all policy makers want a gold standard (except Bernanke et al) and my last prediction-that gold has bottomed may be a little premature-but I still see the price rising soon. There are conditions that would have gold staying relatively flat while equities pulled back. Really, this week changed all metrics for at least now. Weak dollar, weak gold friday confused me. I am not sure what is going on.
That being said, well what can I say more. I will sit back and wait for the markets to open and will go from there. So many factors can change the landscape...will the dominoes continue to fall on the world's politicians? Count on that. That is bullsih for gold as the more the oilgarchs loot their gold vaults, the more light is shined down on the truth. Gold is money, nothing else. Sure it is used for technology, but what is more important? Burning PM and oil for convenience and niceties? Or holding it as a store of wealth? I will take the latter.
What is the hold up on gold's eventual meteoric rise? Oil production has not yet peaked. We are still on the bumpy plateau. In the meantime, let's watch Bernanke wreck the landscape, and stay as far away as possible from his catastrophic damage by hedging with PM. Our shield is tough, and our sword strong. When the time is right, we will thwart his attacks and win the war. That day is soon.
They say you can't eat gold,as if that is a negative. I have been thinking about that. Rust can't eat it, people cant eat it, it cannot be burned for fuel, it does not spoil. It is rare. Perhaps this is why it is such a great store of weath versus other consumable commodities. People will always need a medium of exchange and a way to store wealth. You cannot print gold. C.B.
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