GREY:ABGFF - Post by User
Comment by
camphoron Mar 01, 2012 12:56pm
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Post# 19611788
RE: Call me crazy but....
RE: Call me crazy but.... BTW, my caiculation is based on current gold price, which is $1700. Do I think gold is in bubble? No. Gold was $850 in 1980, Taking into the rate of the inflation. We should see at least $2500 to match 1980's price. Besides, the whole world is printing money (QE, LTRO.etc) like crazy (when one country prints money, other countries prints it with it, because they want to stablize their currency rate with rest of the world.) We are in a more serious situation than 30 years ago. That is why we are gold bugs, because, we understand why gold goes up, not simply just chasing the market. Yes, EU might sell their gold alone with printing money, but China is buying their gold. That's why we are no seeing the 3rd dip into the $1500, because EU knows China is buying the gold at those low price (using their USD, which = dumping their USD reserve).
People believe what they believe, people should also understand why they believe what they believe. That is the only way to do what they do with logic on their side.