Doesn't anyone read my blog, or does everyone think this prediction has no credibility? Anway, see the chart here http://www.sharelynx.com/chartstemp/GoldeWave.php I like it when there are specific prices and dates to the day, unlike a lot of commentators who are vague about prices and dates.
The prediction is credible as an extrapolation but i suspect the PTB would rather crash the monetary system and have a currency reset etc than let it go exponential
Yes, we do read your blog & appreciate it, thanks Bron. The problem is that Elliot Waves are associated with Robert Prechter, and all the noise I hear everywhere is about how discredited his views on many things have been, so this $ estimate is taken with a hefty dose of salt. :/
If gold has a long long long history of preserving purchasing power, ie an ounce thousands of years ago and an ounce today buys same amount of "stuff", that graph is screaming SHTF hyperinflation but its purchasing power will remain the same ....
Eric DeGroot mentioned this prediction on his blog recently and I indulged in a bit of daydreaming while staring at the screen Alternatively the mainstream commentators could finally have a real "bubble" to talk about at that time... In that scenario I imagine they'll have all seemingly forgotten the word bubble and will be screaming "BUY BUY BUY" :/
how many ordinary folk are going to be able to afford gold at those prices in this economic climate? imo there would social chaos before that price point was reached water/food/shelter would take priority long before then ...
gold confiscation more like it ... its been done before in the USA and they fixed the price of gold .... history has a nasty habit of repeating ...
Why is wave 4 and 5 divided into multiple parts? If we take W4(B) and call it W5 as the ultimate top (3,559) it seems credible to me. And why is W1 not divided up since it clearly has multiple peaks and troughs. Seems like playing with figures and wishful thinking.
if i had a savings account with compounding interest for a long enough term i could buy up the world but they wont lend to you like that .... so why would they let gold go to that if it could let ordinary folk buy everything up ? Although i am happy to be wrong, how did gold go in the great depression?
i was still working on my post .... my point is the exercise in the principle of the "exponential function"
Gold was still tied to the dollar (or vise versa) in the Great Depression so in dollar terms it didn't move. However, as prices were falling for other goods, it did well like fiat.
Yes but if you were born into an old dynastic family that had a family Trust with tonnes of gold acquired and accumulated hundreds of years ago and is set up to be self perpetuating as a financial investment instrument .... it is hoovering up gold forever regardless of the price in fiat .... and your spending power is incredible .......
You don't have to buy 10oz per person. Gold is highly divisible. And hey, if people can sign up for $500K houses on the average wage in Australia, then I think they can get themselves 1gram of gold (even if it costs $1000).
