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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 457.82

+1.3%

Jan 23 4:00 PM EST

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To: carranza2 who wrote (86510)	1/28/2012 4:18:20 AM
From: Maurice Winn	2 Recommendations Read Replies (1) of 219702

C2, there is one metaphysical certitude I can tell your for sure which is that gold is in a bubble. It has now far exceeded the long run marginal cost of production. If there was no other way out from the fiat mania but to adopt gold as the new global money, there would be a case for $10,000 an ounce and a global culture of digging gold like the Easter Islanders dug moais. But that is not the case. Oil is also in a bubble for the same reason [the price far exceeds the long run marginal cost of production of energy]. In fact, oil is more bubbly than is gold, though nobody suggests oil is money. Gold went from $280 an ounce when oil was $10 a barrel to $1727 an ounce with oil at $100 a barrel. Oil and gold are related in that oil can be turned into gold by mining and smelting iron to make huge excavation equipment and trucks and digging mines and producing gold. But look at the price of methane which is oil and gold by another name. Methane prices are waayyyyyy down. Why buy oil or gold when one can buy methane? Mqurice

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