"Today I am going to buy a 2gb sandisk mini sd card for my pdaphone but I want a 10gb one. I went to bestbuy today - the general public I see are not going to throw extra money into GOLD - they will pump it into more new clothes, cars, electronics, food. They are socialized to do this - I think several here do not appreciate how hard it is going to be for princess and her boyfriend to alter their socialization - very difficult - now perhaps muslims and asians the world over will jump into gold - but I just don't see the bulk of americans doing that no matter how charming general chen is."
It will take a few years for Americans to adjust. Bette Midler on a tour of Europe in 1980 insisted in her contract that she be paid in gold not dollars.
"In January of 1980, nobody trusted anybody in government to man the controls. Gold hit $850 an ounce. After a decade of dumb ideas from our political leaders (including Nixon's price controls), the Vietnam War, and the OPEC oil embargo, we were stuck with drastic inflation, high unemployment, and no signs of economic growth...
Inflation was considered a permanent condition. It got so bad, singer-comedienne Bette Midler demanded that payment for her $600,000 European tour be paid in South African gold coins, NOT in U.S. dollars!"
investmentu.com
We aren't there yet.
By the way you have a strongly US centric view, India followed by China are the number two and number three consumers of gold currently. Do you think they will get richer or poorer in coming years relative to the US? (Also recognize that gold purchases in China currently are not as liquid as they are in the US..)
"Why? When has oprah come on TV and said buy GOLD my little sheep or else? I haven't heard her say that. When I see oprah get married, give up her makeup and new clothes and instead of giving away cars on her show give away gold bars I will agree with you that times are a changing. Right now I see a single princess living the life of indulgence."
No the times won't be changing if Oprah makes that announcement, that will mean the times have already changed. (And it may mark the point when one should exit gold..) Bette Midler's contract request came within a few months of Gold's all time high in US dollars. |
