by tcfifer » Thu May 20, 2010 12:31 pm
I would like to see it get that high, but the central banks need to loosen their grip for it to go much higher.
IMO, they're still artifically holding it down until certain individuals and entities finish getting on board. We all know that our gov't can't back up our money. And since most countries hedge their economies with our U.S. dollar, when we go they ALL go too...right down the crapper. THEN gold will take off cuz nothing can stop it!! And those who own gold will still live a decent lifestyle. The rest of us will have to live with anarchy.
Greece is just the beginning. When the gov't tells us that everything is just fine (contrary to everything we see around us), we ought to take that as our cue to run for the doors before the whole thing comes crashing down around us!!
The whole thing has got me a tad concerned. But like Leonard, I'll continue to "dredge for my hedge" since I can't afford to buy it like the big dogs.
TC