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On Gold and Silver

By Monkeyswing   2012 Jan 13, 4:09am   1,748 views   5 comments   watch (1)   quote      

Does anyone believe the Bulls, that gold is going to shoot above 2,000 in 2012 before going parabolic, and silver to break 100, tailing gold to the stratosphere?

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/12_John_Embry_-_Silver_to_Break_$100_in_12_to_24_Months.html

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1   TechGromit     2012 Jan 13, 4:34am  ↑ like   ↓ dislike   quote    

I looked up this guy John Embry, he seems to be a big gold and silver cheerleader. Every interview he give he see's gold and silver raising. He predicted back in October when Silver was trading at $35 an oz, it would be trading $70 in two months, but it's in fact trading at $30 today. I wouldn't give his opinion any more weight than any other gold cheerleader.

2   uomo_senza_nome     2012 Jan 13, 4:43am  ↑ like   ↓ dislike   quote    

John Embry is another example of a guy who talks his book.

King World News interviews are sort of boring and they're all almost nearly the same. Gold and Silver to the moon!, now is the great time to buy! US dollar is gonna collapse anytime soon. FTW!

Admittedly, the world currency regime is a ponzi game. But it can last longer than people's lives. So it is better not to get ahead of ourselves in these things.

Headwinds for a US recession is quite severe, I would expect gold/silver to be about where they are or deteriorate further.

3   RealEstateIsBetterThanStocks   174/174 = 100% civil   2012 Jan 13, 10:53am  ↑ like   ↓ dislike   quote    

Jason M. says

Given that two-thirds of all physical gold is held by central bankers, it's easy to see how the price can be easily manipulated and depressed, despite that central banks worldwide have been buyers of gold for the last five years.

do you have any sources for these info? i keep hearing that the price of gold is being manipulated but how?

4   Monkeyswing     2012 Jan 13, 4:42pm  ↑ like   ↓ dislike   quote    

What a corrupt system. So, paper certificates obscenely outnumber actual gold... I guess that's an argument for having the metal in your hand as opposed to ETF's. Isn't this the same financial approach that brought Lehman down?

Jason, thanks for the videos on Rickards. I just started his book, Currency Wars.

5   B.A.C.A.H.     2012 Jan 14, 2:42am  ↑ like   ↓ dislike   quote    

Well "dollar price" may not be the best way of looking at it, but it's the most universal metric in the US. At 1640 USD, gold is "up" about 9% annual basis since the US completely went off of it in 1971.

It is also up about 5% y-o-y since FDR set the price in 1934.

Either way of looking at it, I think more rises in the "dollar price" are sustainable for awhile. Dollar price probably is not the right way to value it, though. Purchasing power for basic needs is probably a better measure.

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