Originally Posted by culverwood
I'm one of the three saying gold and silver are heading for a fall. Get out now if you can but always have 10K or there about in your safe in case the revolution ever happens.
I am a recent convert on metals. I was always thinking that gold and silver were over-hyped, and since we went off the gold standard, they are no different than any other commodity since there is no built-in demand from it being a currency anymore to keep the price up. After reading about Utah trying to go back to making bullion into legal tender (as well as 10 other states), what's going on in the middle east, JPM's massive short interest in silver, and the incredible stubbornness of PM longs, well, I see the light now heh. PM bugs rock. You can short silver down to 20 dollars, and rather than freaking out looking for exits, the longs will just load up on even more physical metal. I love it. Crane, 1250 gold would be nice, but wouldn't 1k be nicer
I'm not worried about any breakdowns in the PM market. No problem letting the market digest some of these gains even if it means lower prices for a while. edit: Also, I see that weak hands are trying to point to the crash in '80 after silver touched 50 an ounce, as if to imply the same thing would happen today if silver hits 50. In 1980 the Q3 money supply was what, 1.5 trillion? What's it today? 18+ trillion and growing. You do the math to adjust that 1980 price in today's inflated dollars.