When gold goes to $1000, there will be a long line of people at the bank waiting to BUY GOLD>.
Here's Andy Tobias' experience with the same thing in SILVER -
andrewtobias.com
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Investment Rarities sells silver, basically (and buys it), and 22 years ago I actually, sheepishly, bought some bags of silver dimes -- what was I thinking? -- and then, to my astonishment, Bunker Hunt tried to corner the silver market, the price went from $5 an ounce to $40, and, in a rare moment of lucidity, I sold.
(The larger point here is what I found when I showed up at Deak Pererra in Rockefeller Center to sell. As I have written at greater length elsewhere, the place was mobbed. A huge crowd waiting for the doors to open at 10am. Everyone else, I realized, had had the same idea. I would never get in to sell my silver, or, if I did, they would have run out of cash. And yet, as it turned out, three of us were there to sell. Everyone else was there to buy. A classic top. Astonishing.) |
