Loading ...Maddog – lord knows we’ve been conditioned to the up and mostly down moves so, the normal pullbacks no sweat, but to think that pm’s aren’t rigged is just nuts. Also, the magnitude of the moves down, the HUI has gone from 335 to 250 – a 35% loss in two weeks. That’s something that should happen once a decade, not on every single rally attempt. We’ve done nothing but rally and crash for the last 20 years.
I can’t believe I’ve let these guys steal from me for the last decade. I think gold and silver and the pm shares, commodity, or whatever that hasn’t made gains since 2011. Everything else has gone up 10 fold.
One thing is sure, gold is absolutely not insurance or protection from market turmoil. It has never been again since 2011. I remember when the banksters met with Obama and the next day gold was hit for $200 or something.
My wife told me the other day that she didn’t think gold would ever get to $3K. She may be right given what we’ve endured repeatedly for the last 10 years. If I cash out, what then? Can’t keep it in dollars, can’t buy stocks that are overvalued by 200%. Real Estate? Nope, real estate is just starting to crash. I’ve been looking at some homes in Florida, everyday there are homes that are dropping the ask price and the inventory appears to be rising.
I’m not sure how far down gold and silver are going to go. Maybe back to $1100? HUI back to 135? Maybe they can get the paper price to zero.
Rant over. Good luck to all of you guys, I know some of you are in the same boat.