Re: Public Awareness: Why Gold isn't 2000$/oz already
in response to
by
posted on
May 19, 2009 08:10AM
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I’ll take a different tack here , All I know is that gold is money and I cant think of any asset class that will hold up in terms of gold. Shares? No! gold 3000/Dow3000 a possibility , long term bonds?No! this bubble is popping already and has plenty more to pop , corporate bonds? No! a lot of bonds will be heading for junk status, Property? No! more downside. Commodities? Why bother, buy gold
As for the $ , I can see why it should loose value but as most $ are lent out , there is plenty more de-leveraging possible wrt credit card debt etc. , throw in some destabilisation in Russia that spills over to European financial markets and you have a well supported dollar.
Just remeber that graph with Homestake crossing the Dow and never looking back