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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (86643)	9/20/2007 12:29:10 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 110194

I remember people melting down the families silver tableware and selling it.

To: John Vosilla who wrote (86643)	9/20/2007 12:31:24 PM
From: CalculatedRisk	Respond to of 110194

It's funny, my reaction at the time was "Gold is overpriced". Any time you see housewives selling the family silver, or regular people buying gold (or standing in line to buy houses), that is usually a sign that the price increases are nearing the end. You should have seen these little gold shops in Arabia (I don't know what the shops main purpose was). They had these little 1 Kilo gold bars just sitting there. I remember thinking, hmmm 2.2 pounds, about 39 ounces, and gold was close to $700 per ounce. Those bars were more than $25K each! That was real money in those days. And Saudis were walking into the store and buying those bars. Also: I walked freely around those little towns back then and I was treated very nicely. I wonder what the experience would be like for an American today?