GREY:PTQMF - Post by User
Comment by
Libertygon Aug 25, 2011 10:03am
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Post# 18978110
RE: Careful what you wish for!
RE: Careful what you wish for! It's not blasphemy to want to see gold pull back and cool it's heels a bit for the benefit of it's long term strength. Personally i believe gold will reach 2,500. at some point, and with the mammoth and unsustainable global debt, no fundamental reason exists yet that would make me think it will end at 2,500.We haven't seen the bubble explosion the blind keep touting, a bubble reaches highs most don't dream of. Gold hasn't come close to a bubble end move, just look at past bubble tops, this isn't it. Bubble tops tend to at least double in price in short order. A correction is not a bubble top, but a correction can be very deep and harsh. I don't mind PTQ selling gold for a day at 1300.00 if it was selling gold for an average of 1700 for the year, the yearly average is the number we care about. Gold to be putting in a potential bubble top would have to run to "AT LEAST" 2600.00 on this move. It's moved up about 50% in 7 months, and that's not a bubble top.Remember silver? 7 months it tripled in price. That's more like a bubble top, which i don't believe it was. It gave back 1/3rd on it's correction. So up 200% and back half that. Two steps up one step back.When in the history of the world have you had Global debt threatening the entire economic system? When in the history of the world have we been this close to a one world economic system, of this magnitude? When in world history has it been this easy to move money in an instant from one investment to another. Money flows like waves of the ocean and now it can flow faster than ever in history. Gold is competing with paper currencies, and no sane person would value this mismanaged paper over gold if we continue the status quo.Golds last bull run went up 2400% bottom to top. Even if gold began at 200.00 now it would need to hit 4,800. to equal that move in magnitude. The biggest and most dramatic move in gold is still to come. So enjoy the corrections that's all they are is a temporary pause in trend.