Gold shot up yesterday to over $1000 per ounce. The dollar index has been dropping, so why not buy gold and silver right now?
The experts are saying - this is not the final and continued run up of gold and silver. Why?
Because the expectations are for the stock market to soon (starting next week) start a major dive bomb lower. When the stock market starts imploding, people will be selling off their metals to pay for their margin calls, including banks. Fast money will need to be raised, so a sell off of metals would be expected.
A drop to around $700.00 could be likely for gold. After the panic and sell off - expectations are the final start of a real and sustained run up for metals will happen. The metals are expected to then run up to numbers not seen before and stay that way.
The above is from my own research - do not take this as absolute (prices may not drop dramatically), do some research yourself and do what you feel most comfortable with.
China, has decided they are going to default on their derivatives contracts, which has banks and investment firms in a tail spin. From my understanding, China looks at it, as those banks and firms got billions/trillions of dollars from the U.S. government, so they have already made their money and China is not going to pay them theirs.
Funny, we can't do that with our mortgages and credit cards, though I certainly think we should be able to do that. We are all working to keep banks in business to keep ripping us off and charging higher and higher interest on balances left on credit cards, as our tax money has gone to all of them.
A great youtube video made in 2006 - is right on target - Max Keiser, knew exactly what he was talking about!
No comments:
Post a Comment