This was another gold crash...
- Thread starter TreasureHunter
- Start date
People who are dishearted by this drop should get out , because before
this is all over, gold will be attacked and driven lower many times and to a greater extent.
Perhaps it will finally overcome the bankers and politicans who don't want an alternative to currency.
It will take guts and perseverance to hang on.
It's not for speculators.
jmo.
this is all over, gold will be attacked and driven lower many times and to a greater extent.
Perhaps it will finally overcome the bankers and politicans who don't want an alternative to currency.
It will take guts and perseverance to hang on.
It's not for speculators.
jmo.
The reason for holding gold is for one reason and one reason only - Insurance policy. Frankly, it's a bad investment, it returns nothing by way of dividends or income. To go all in is crazy, to have none is crazy.... Like all insurance policies hope you never need to use it.
The recent nonsense in Greece in my opinion is not a typical period of distress for gold support. The banks are still in control, whether this be in theory or fact, the reality is, they (and others) think they are. The Greece concern was more about political contagion not financial. Half of Apple's cash reserves could wipe out Greece's immediate debt problem, the banks were not going to risk a global melt down over this alone. Potentially big problems in that part of the world and others I agree, but not yet. War on the other hand would be a different story.
However, the reason for holding gold to me is clear. If the reserve banks are holding it, because lets face it they really don't what's going on either...Then so will I...
Do as they do... Not as they say!
The recent nonsense in Greece in my opinion is not a typical period of distress for gold support. The banks are still in control, whether this be in theory or fact, the reality is, they (and others) think they are. The Greece concern was more about political contagion not financial. Half of Apple's cash reserves could wipe out Greece's immediate debt problem, the banks were not going to risk a global melt down over this alone. Potentially big problems in that part of the world and others I agree, but not yet. War on the other hand would be a different story.
However, the reason for holding gold to me is clear. If the reserve banks are holding it, because lets face it they really don't what's going on either...Then so will I...
Do as they do... Not as they say!
