I didn't expect USA downgrade, but it seems fishfinder is working, but now I think 1 oz of gold will be fine to buy and go to long fishing vacation until SHTF is over.
fearmongering is on the front page of the major newspapers in Sydney astonishingly, I found a great rant yesterday in SMH, which echoed the stacker sentiment
http://video.foxbusiness.com/v/4651...a-credit-rating-to-aa-plus/?playlist_id=87247 this guy says US bonds will be a safe haven even after down grade as there is NO alternative... Umm gold
Mls, "I didn't expect USA downgrade, but it seems fishfinder is working, but now I think 1 oz of gold will be fine to buy and go to long fishing vacation until SHTF is over." You will need LOTS of gold, forget fishing and buy gold AND silver. China will not escape the events overseas, we are ALL in this mess together. How will the average Chinese worker feel when his factory closes? OC
I remember reading Harry Dent's book 'The Great Depression Ahead"... he stated (and still maintains i believe) that bonds (municipal bonds i think) are the best place for major crisis and that gold will perform well but at the end/peak of crisis it isn't the best place to be. Whether he means that major bull run will abruptly end and crash, leaving late sellers holding the bag, or some other reason. I'm not a bond expert, and he didn't give an in-depth description of why he believed that. I'm happy buying PM's until i learn more... the whole thing is a learning experience for me
And i buy it today, only one Au oz, but for silver i will wait , i expect some drop for silver because industrial use of silver, when price go down a lot, people will find out again that is also PM and start buying. China will be influenced a lot by these events, but not so quickly, and workers will fell broke , but not hungry, everyone can turn back home form where they come eventually few years ago, chinese people basiclly r farmers and used to it to hard life, so this is well know area for them but not for western country peoples.
