From its all time high in 2007 the dow fell 7000 points [in march 2009] Since then it has increased to almost 1000 points higher than its 2007 high. Look around you at the economy and draw your own conclusions.
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I've been drawing my conclusions about gold for years, it's on the 'skids'. lol
Economy looks OK to me, just looks bad to goldbugs who like to blame everyone else (JP Morgan, the Fed, Obama, Goldmans, ECB, ad. nauseum) for their misfortune, which is about to get a lot worse.
''Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.''
—President George W. Bush, Washington, D.C., Aug. 5, 2004
Skol i do own some gold.Not a truckload but some- prices I paid range from $30-$500 /oz for it so yes I have owned it for some time and even with gold at $2000/oz havent sold.[It is my insurance against American stupidity.Which is not confined to the Bushes
''My belief is we will, in fact, be greeted as liberators.''
—Vice President Dick Cheney, on invading Iraq, ''Meet the Press,'' March 16, 2003
''I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy. I mean, that's a storybook, man.''
—Joe Biden, referring to Barack Obama at the beginning of the 2008 Democratic primary campaign, Jan. 31, 2007
''People have got to know whether or not their President is a crook. Well, I'm not a crook. I've earned everything I've got.''
—Richard Nixon at a November 17, 1973 news conference
''If I were a single man, I might ask that mummy out. That's a good-looking mummy.''
—Bill Clinton, on ''Juanita,'' a newly discovered Incan mummy on display at the National Geographic museum
''During my service in the United States Congress I took the initiative in creating the Internet.''
—Vice President Al Gore, during the 2000 presidential campaign
''I promise you, the president has a big stick. I promise you.''
—Joe Biden, citing Theodore Roosevelt's famous quote, ''Speak softly and carry a big stick; you will go far'' (April 26, 2012)
''Folks, I can tell you I've known eight presidents, three of them intimately.''
—Joe Biden, Aug. 22, 2012
''Republicans understand the importance of bondage between a mother and child.''
—Dan Quayle
''It depends on what the meaning of the words 'is' is.''
—Bill Clinton, during his 1998 grand jury testimony on the Monica Lewinsky affair
''I was under medication when I made the decision to burn the tapes.''
—Richard Nixon
''Well, I learned a lot....I went down to (Latin America) to find out from them and (learn) their views. You'd be surprised. They're all individual countries''
—President Ronald Reagan
''A zebra does not change its spots.''
—Al Gore
''I want to say one thing to the American people. I want you to listen to me. I'm going to say this again: I did not have sexual relations with that woman, Miss Lewinsky. I never told anybody to lie, not a single time; never. These allegations are false. And I need to go back to work for the American people.''
—Bill Clinton, Jan. 26, 1998
''Facts are stupid things.''
—Ronald Reagan, at the 1988 Republican National Convention, attempting to quote John Adams, who said, ''Facts are stubborn things''
''I am not worried about the deficit. It is big enough to take care of itself.''
—President Ronald Reagan
'When I meet with world leaders, what's striking -- whether it's in Europe or here in Asia...''
—President Obama mistakenly referring to Hawaii as Asia while holding a press conference outside Honolulu, Nov. 16, 2011
http://politicalhumor.about.com/libr...tm?PS=548%3A16
Skid,
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Skol i do own some gold.Not a truckload but some- prices I paid range from $30-$500 /oz for it so yes I have owned it for some time and even with gold at $2000/oz havent sold.[It is my insurance against American stupidity.Which is not confined to the Bushes
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Not selling it at $1,900 was a mistake, because it's not going back there any time soon. The world is recovering, all is well, this century won't be the Chinese century, it's probably going to be the American century the way things are going in China.
Here's a laugh-lots of chinese 'aunties' have been buying gold for some reason westerners are unable to fathom. This is from Bloomberg-what the papers had to say about the aunties.
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On Sunday, Shanghai-based Liberation Daily, a newspaper owned by the Shanghai Communist Party, not only joined other news outlets in comparing the gold-shopping habits of aunties to grocery shopping but also suggested: “Their knowledge of banking and finance is close to zero, so their investments change with the winds. They’re also based on feelings, as well as the advice of close friends.”
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lol
Another bad day for gold and silver. Gold $1,429, XGD down 4.8%.
When will it end?
Not anytime soon.
Any guesses when gold will hit $1,000? Mine is about January next year.
[QUOTE=Skol;406661]Another bad day for gold and silver. Gold $1,429, XGD down 4.8%.
When will it end?
Not anytime soon.
Any guesses when gold will hit $1,000? Mine is about January next year.[/QUOTE]
I'm just locking in that estimate Skol - we'll see if the Gold bugs are closer to the price direction. US$1350 to $1400 is the current average rock-bottom breakeven on mining investment, so after the shorters have finished, it should recover back past its previous high, as gold always does eventually.