RE: RE: RE: Bashers EVERYONE got caught flat footed when gold took a dive from 1900. Most also tanked more recently, with the latest paper takedown.
Seriously, does anyone think that gold will NOT recover to new highs?
Any goldbug must know of Jim Sinclair, Max Keiser, Gerald Celente, Richard Rogers, who all told us to buy gold in 2001 and 2003. These good people are telling us to keep the faith, the fat lady hasn't stopped singing.
Only when the general public starts buying gold will we see that parabolic rise, that overeaction, that spike of all spikes. Only when we hear the gold price announced daily on the morning news will we know that gold is peaking and about to crash to the downsidw with a few bounces till it reaches equlibrium.
China has passed the US in gold production and is not selling any. In fact, it's become one of the world's largest importers. They are trading in their about to become worth far less, US dollars, for real money.
The PTBs thought that their paper takedown would discourage goldbugs into dumping their gold. Instead, REAL goldbugs know the game that's been played all this time and responded to the low price by buying up the stuff in record numbers. That's PHYSICAL with taking delivery.
With rare exceptions, ETFs are NOT allocating or even storing the gold you think they are. They were set up to draw off money that might have really affected gold on the upside.
WHEN paper gold is rejected for the real thing, PHYSICAL, watch the price explode. ALL gold stocks will respond on the upside just as they did on the downside.
Profit? How much profit will LSG show with gold at 2,000? 3,000? 4,000?
Don't get discouraged. I sold off some non gold stocks and doubled my position in LSG to the tune of 100K shares.
All of this is, of course, just my opinion.