Paula:
There is always something new on the horizon, but I can't see what that has to do with currencies. If you don't consider gold to be a currency, then we are from different perspectives. So far, those who accept that gold is a currency seem to be prospering.
Yes, "all things do pass",... and it is also true that "in the end we are all dead". But for today, and for the foreseeable next few weeks, I hope to make some dough in this market.
How long can "it" be delayed (I presume you mean averting a short panic)? Not answerable by me, but that point is only one in a long list and I sure do like the risk/reward ratio of being long gold, given the growing list of factors moving in its favour. Need we mention such things as the US current account, the trade deficit, the newly annointed government spending deficits, the staggering corporate and consumer debt levels (and attendant, almost daily defaults), the bond spreads, the almost non-existant institutional gold stock ownership (normally 2%), foreign central bank selling of treasuries to buy gold (UK, China, just for starters), expanding global "friction", etc.
Best, Earlie
Now arguing against gold |
