I have to say i have a bad feeling about it too . Have had since the beginning of last year & stopped buying my thoughts have come true so far . Its nice to have some but theres too much at stake around the world for me to get in any deeper & i dont think having a bag of gold is going to help much if/when it does happen. I mentioned that govs were maybe buying it by the truckload nearly 2 years ago & that worried me .. I had a gut feeling it would go backwards or sideways this year. I mentioned cash in the bank & got laughed at . . good thing i took my own advice :lol:
You story is exactly what happened to me. Last year, someone I would always makes online purchases with to split the shipping costs was buying like crazy saying "it's only going up, $35 is the bottom!!" while I was saying, bro... It's going to correct to $26 just chilllllll, and now we know who was right. Honestly you should NEVER take anyone else's advice and ALWAYS think for yourself, it's the only way. I will never put my trust for investment advice in other people who are more uninformed then I am.
Im going with my gut and my gut tells me the beginning of this year doesnt look rosy for metals however I think well see a decent rally hopefully like 2010 but inevitably it will get smashed down by either raisong the margin call or profit taking or both. This time Im ready and wont let my emotions cloud my judgement. My gut also tells me that was a damn good coffee I just drank.
Yes, yes... I said this... but soooo many jumped at my neck! Some even joked about me working for Bernanke the "Money Maker". Seems like we're looking forward to a deeper correction. Watch the news regarding the euro: the deeper that crisis goes, the stronger the dollar will get. And others (Marc Faber) have been talking about a deflationary scenario... I wonder what PM seller Peter Schiff will say about this...
I'm going to go out on a limb here and say Peter says gold is going to $5,000. Oh wait.. He is saying gold to $5,000 [youtube]http://www.youtube.com/watch?v=yhREH6h56VY[/youtube]
Jim Rogers also claims he cant call short term, in this i have to say i agree that he cant - and i dont think any of you will either. If you trade on fundamentals youll be ok, if your chasing short term paper profits youll get smoked, understand where the economies are going and how to protect your wealth and you will see that you dont infact have many options. In the real world im not huge on gold but its a smart vessel for my money over the next few years, dont get caught up in short-term noise and let it distract you from the bigger picture. Jim Rogers has had no revealations for years, i dont even now why i bother watching him to be honest as its ALWAYS the same... but i do .. maybe to prevent congitive dissonace.. WELL DONE FOR INVESTING IN METALS! PAT ON THE BACK FOR YOU SON. this talk about a STRONGER US DOLLAR and DEBT CEILING INCREASE being reasons to be bearish short term are nothing short of ridiculous.. the US$ is a dead cat on borrowed time and any increase to the debt ceiling is another step off the cliff to a monetary collapse.. in other words one step closer to where you will need gold and silver to protect yourself.. Thinking in terms of a fiat correction and listening to the talking heads may really damage your strategy for mine! 1for1 if gold goes lower buy!
Well to Jim Rogers credit when Silver was in the $40's in 2011 he did say he is not buying and he said if it hits $100 in 2011 he would have to sell his silver. You won't see some others like Maloney saying that. So I think he does have some value still even though yes it seems for the most parts its the same old same old....
Rogers was saying nearly exactly the same thing this time last year, here's another $5000 an oz prediction, you can skip to the last 3 minutes for the relative quote. [youtube]http://www.youtube.com/watch?v=SZHTFhrmyHk[/youtube]
Yes, yes, I know... He said that BACK THEN. But now? What is Schiff going to say in 2013? Especially if gold sinks below 1,500 $. I still appreciate him and on the long term, I can imagine gold going above 5,000 $.
Personally don't really want to see gold going to $5000... can't imagine what kind of mess the world economy will be if that happens.. not saying that we aren't already in a mess.. but..
One very important point that Jim Sinclair makes in his blogg is that I can't remember seeing anyone making this call before.... it's an exciting concept.
I don't think the world would be in any bigger mess than it is. Perhaps the shenanigans of the banks would be out in the open for all to see. They have simply played on the ignorance of the masses who are more interested in what's on TV, Sport and the latest scandal. The guvmint and the ruling elite don't want free thinkers and those who can see the coverups, control and manipulation. If gold goes to $5K then its only because the truth is out and fiat is shit!
