It is odd.
I talk to the Japanese, and I ask them about keeping their life-savings in banks that are insolvent and it does not cause a stir. I really am worried, as the people here are absolutely superb, and I have read stories about post-war Germany, and other periods of super-inflation and you get a picture of frightening social unrest and panic.
Boy, I would not wish that on any country, least of all the Japanese. Still something just does not add up. The insolvent banks, the 20%+ p.a. money growth, the absolute determination to change nothing structural.
The average Japanese citizen is not yet buying bullion.
Not even the not-so-average. Very few people are.
That is the catch, if they were then you could forget about Gold at 330. I think any number north of 500 would be a more realistic number. But that is IF they panic. Trying to predict this is like trying to predict a crash - impossible. What I want to see is mass central bank sales to drive gold down, and then I promise I will never trade Gold stocks again - just LTBH. Once they have used up a lot of their rounds then the whole thing could explode.
John, you said it - "Life takes time to live!" - and my timing sucks of late.
I may park my fat arse in Starbucks Ginza next week, and count the number of nervous people walking around with brown paper backs.
Oh sorry, I lied. It's the World Cup* and there are matches to be watched.
- macavity
*- The Greatest Sporting Event In The World |
