Author Topic: Question....Why is "everybody" panicking over the drop in gold price the past two days?  (Read 629 times)

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Offline DCPatriot

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Question....Why is "everybody" panicking over the drop in gold price the past two days?

They are saying that anybody that purchased gold since April 2011 has lost money....and that the safest (Hardy Har Har) place is the stock market.   :silly:

Now I don't own any gold as investments, but the stock market is being propped up by the Fed...which spends $83 Billion per month subsidizing stockholders.


....talk about a house of cards.

"It aint what you don't know that kills you.  It's what you know that aint so!" ...Theodore Sturgeon

"Journalism is about covering the news.  With a pillow.  Until it stops moving."    - Iowahawk

Offline Bigun

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Question....Why is "everybody" panicking over the drop in gold price the past two days?

They are saying that anybody that purchased gold since April 2011 has lost money....and that the safest (Hardy Har Har) place is the stock market.   :silly:

Now I don't own any gold as investments, but the stock market is being propped up by the Fed...which spends $83 Billion per month subsidizing stockholders.


....talk about a house of cards.

You are ABSOLUTELY right!  I'm out of the market and will stay out indefinitely!

Offline GourmetDan

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They are saying that anybody that purchased gold since April 2011 has lost money....and that the safest (Hardy Har Har) place is the stock market.   :silly:

The next step will be to crash the stock market and say that the 'safest' place for your 401k is in US Gov't debt (the supply of which is going vertical).

There truly is no end to the theft of honest people's assets.


"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Online jmyrlefuller

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The only ones who have been panicking are the people who don't understand how a market system works. Nothing is a truly "safe" investment. Everything rises and falls in value relative to other things. The problem is that the goldbugs had a lot of people convinced that gold was somehow exempt from that, that the fact that its supply cannot be expanded ensured that it would never, in the long term, lose value. Of course, that neglects demand and the value of everything around gold. Gold, outside of corrosion-proof cable connectors and jewelry, has very little practical use. So, with neutral supply, and neutral demand, it becomes a trader's toy, something that people think is valuable but, in reality, isn't.

Offline DCPatriot

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"It aint what you don't know that kills you.  It's what you know that aint so!" ...Theodore Sturgeon

"Journalism is about covering the news.  With a pillow.  Until it stops moving."    - Iowahawk


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