Gold is not the bubble. The USD is in the bubble. Americans' faith in their paper chits is the bubble. Consumers trading pieces of paper as markers for value. The bubble of US printed paper currency may pop. To guard against that risk, investors buy gold. Once the paper money bubble pops (remember iceland), it is too late.
the royal bank of scotland has just been cooked. Bank of america is the walking dead. what ever the FED is selling, i don't want it. thanks, but no thanks. 10%+ in gold production shares and a few kilo of gold as insurance can't hurt. ask an icelander what he would prefer? the remaining i-bankers are preparing to run roadshows for gold mining ipos in the 1st and 2nd quarters so there will be the added fuel of them ramping up interest.
i was at the beijing gold market on January 1. both levels of the building were packed standing room only with people lined 7 deep around counters. The morning turnover was a record and featured on the Beijing TV news. there were many more people buying than jan 1 last year. double according to the lady handling the pama ingot sales.
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