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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (160131)10/25/2008 11:50:51 PM
From: Jim FlemingRead Replies (1) | Respond to of 306849
 
Achimedes re gold

I have traded in and out of gld and nem in the past couple of years. I am probably about even. I saw a message on SI that the Capital of all the gold stocks was 60 billion give or take a couple of billion. At the same time someone said that all the gold ever mined could fit on a football field two or three meters high. I had already decided that I had no idea what I was doing in something I knew absolutely nothing about. Since the info offered on SI wasn't challenged by knowledgeable people on the thread, I judged that gold would not be the answer to financial problems on the horizon. The size of the world's financial markets makes fiat and cyber money necessary. I'm sure that smart traders will make money on gold but I am cured of any illusion that I am a smart trader in gold or maybe anything else.

Jim



To: Archie Meeties who wrote (160131)10/26/2008 10:45:13 AM
From: James HuttonRespond to of 306849
 
No. A little, < one day bounce means nothing when the metal has been crushed mercilessly. I'd wait and see.


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