patrick.net

I like seeing the word gold and bubble together. If nobody questions it any more, then I will start to get worried. The more the mainstream press and mags poo poo it, the better.

I will say, it depends. If Volcker is in charge this time around, I expect it top off at around $1000.

Very fortunately we have Bernanke around this time. Sky is the limit.

What the fuck chuck, suck
I thought there would be more bucks
Now I suck, I suck

surfer-x,

Huh?

Oh, a haiku.

Duh!

I am reading that by 2018 the Medicare fund will be depleted. What exactly does it mean? The Medicare fund will be $0 in value if we are continuing the current usage?

Does it mean by 2018, if nothing is to be done, then the 65+ age group will need to pay for their own medical cost a dollar for a dollar?

HARM,

Is there any way to resize the picture? The original image is much bigger than what's shown up.

Why do I think gold will go down?
No logical reason whatsoever.
I just think it will.
I would be very suprised if it went up to $1000.
And disappointed that I didn't invest.
I just think the money will go elsewhere....
and more conservatively so...
I'm thinking Euros...

Owneroccupier,

Do you have the source re: Medicare?

t-Bone,

Nice article. I hope the bubble burst destroys these fools. Everyone repeat after me: a house is not an investment!

http://money.cnn.com/2006/05/01/retirement/SStrustees_2006report/

HARM,

Is there any way to resize the picture? The original image is much bigger than what’s shown up.

Yes, just add "width="xx%" before the ending "/>" of the img src tag.

I do not receommend setting ANY picture greater than 100% because it sends all the right-hand links to the bottom of the page and skews the posts as well, making them hard to read.

Linda,

nobody knows for sure what will happen in the future.

Those who invest in gold/silver are counting on Bernanke to print money like mad to save the US economy. The more money he prints, the higher gold will go, but it doesn't mean much, gold is just retaining its purchasing power as opposed to USD yet. So in the end gold may be worth $2500 USD, but the things you can buy with an ounce is probably the same, it is another form of USD devaluation.

Maybe Bernanke turns out to do the "right" thing and push the US into deflation, a harder route to take. But I highly doubt his resolve and the resolve of the current admin. That's why I bet on gold price going much higher than $1,000.

Very fortunately we have Bernanke around this time. Sky is the limit.

That is my impression. Beware of retracements though.

Owneroccupier,

As you've noted, "in the end" gold will simply inflate with money, but the initial rate of inflation will be for gold will be high, so there's a window of opportunity to buy gold and then dump it for another asset class at a relative bargain compared to gold prices.

So does that mean when we retire, we will have no Medicare at all? Should I go get a Canadian citizenship now as a backup option? :-)