Home Forums Hunting & Shooting Hunter's Campfire Why Gold is Crashing

This right here!! kwg

But we have been told by the gold bugs on here that the Fed printing so many dollars would crush the dollar and cause gold to skyrocket. Hmm...something just didn't work out that way.

Did you watch the Peter Schiff vid?

I think higher production spurred by the high prices have led to a decline inthe price, but hey not to many people believe in the fantasy of supply and demand anymore, so I am sure I will be seen as ridiculous.

Dude, just wait 'till interest rates start going through the roof. You must not remember 1980. This hasn't happened yet because the Fed has forced interest rates down. When no one will buy US bonds anymore (and that day is coming SOON), that little song and dance will come to a screeching halt. Actually it'll be more like musical chairs, except there will be a LOT of morons standing, not just one.

Dude, this is what I do for a living. I know a little bit about how these things work and I remember 1980. I also know the Fed isn't the only thing that affects yields and the yield curve.

No, I didn't watch the video. Peter has a long ways to go to get back any credibility. He has been predicting the dollar going to zero and hyperinflation for so long that it has become laughable.

I am not saying that the US is doing it all right. Far from it. We done so many things wrong it is frightening. The only saving grace is that we aren't the only ones doing it wrong. The gold bugs and doomsayers are missing one important aspect to all of this. They are acting like the US is the only one printing the money. Of course, this makes us the tallest midget in the room, but we also have something ahead of us that no other major industrialized country has and that is a major energy boom.

The energy boom is a huge shift in the balance of payments and other economic benefits. That is one of the major factors in the strengthening of the dollar and further weakening in precious metal prices.

This is the only thing that has forestalled hyperinflation, because it has allowed the dollar to remain the world's reserve currency. That WILL NOT LAST.

Your position is a lot like Wil E Coyote's, in the desert, with the shadow of an anvil over him. You might want to move.

For the last several years I've heard radio adds bragging about how much gold prices have climbed, and encouraging buyers to jump aboard before it climbs even more. Being a skeptical sort, I've never trusted an investment that tries so hard to drum up excitement. Sure, I wish I'd bought a few pounds of gold 10yrs ago, and I'd have sold it by now for a fancy profit. But as a hedge against TEOTWAWKI, I'd rather invest in more practical things.

Only a moron would do that, that is like going to Vegas with next years mortgage money. You are a dumbass if you don't provide for the reasonable material needs of you and yours FIRST. Then, you invest in precious metals for your needs AFTER TEOTWAWKI. There always is an "after".

Not if the chit hits the fan, and people focus on what they need. food, water, shelter, and security. Shiny isn't a need.

No times were harder on folks than during the Dark Ages in Europe, yet you could still buy some chickens for a small piece of silver, and a plot of land for a couple of small pieces of gold. Hard to argue with six thousand years on the basis of the tiny slice of time (the last forty-two years) during which the world has been on a pure fiat currency.

PS Much of the gold and silver coinage in circulation during the Dark Ages had images of Roman emperors on it, i.e., it mattered not that there was no longer a Roman Empire to back it with its "full faith and credit." All anyone cared about was that it was gold and silver.

A day is coming when the only thing that will matter is whether you believe in Jesus Christ or not. Revelation will soon unfold before the eyes of the world and most will not even know it.

Qtip
Soli Deo Gloria!

The doomsday scenarios are correct and the dollar will crash, and the U.S. will go extinct. The problem is when will this happen. Will it be in a few years, a decade, a few decades, a century or when the Sun goes into its red giant phase? Any fool can predict the crash of the dollar with 100 percent accuracy as long as they don't give a date or time frame and other fools can spend their lives living in a cave waiting for it to happen.

Peter Schiff predicted gold would be at $5,000 an ounce as of a few years ago. When that didn't happen he moved his forecast to be a few more years down the road, and if that doesn't happen he'll find a reason and move it further into the future. Peter Schiff is to gold what Al Gore is to global warming. It doesn't matter what happens it always proves their case. As with any investment, timing is the key. By low and sell high. Those who horde gold for doomsday are missing the opportunity to profit from the usual market cycles that occur in all commodities.

Big government is not going away and if there's a collapse of the dollar, government will impose price controls and rationing as it has done in WW2 and other times in our history. You won't be able to buy foreign made goods with dollars, but you'll be able to buy domestic goods. The U.S. is not Cyprus or Greece in that we have the ability within our borders to feed, clothe, house, transport, employ, and defend our own population. With no competition from foreign goods and labor the bust could quickly turn into a boom.

Any plausible economic collapse would produce minimal hardships compared to a catastrophic natural disaster on the order of a Yellowstone eruption or pandemic on the order of the black death. Being no one can predict the timing of such events, my advice is to make prudent preparations, but don't waste your life living in a bunker be it the physical or the mental kind.

You will need to back that statement up. I've been a follower of his since he proved correct in predicting the housing bubble crash, not to mention its course and cause, and he has always been clear in stating that he cannot predict the year of the dollar's crash, to which his $5,000 per ounce gold price prediction is attached. He has always said that there are too many variables involved for that.

This assumes you have a kickass plan for converting fish into fuel, other food, water, shelter security, parts, labor, yadda yadda. Store of value, medium of exchange stuff here. Stinky fish has limits as a store of value.

Also, it is pretty easy to find information on various countries efforts to trade directly in their own currencies and bypass the use of the dollar as a reserve.

What do you think the real reason for regime change in Iraq and Libya was? Gaddafi and Hussein were both whacked for attempting to trade their oil for something other than US petrodollars.

I used to joke that .22 ammo would be the currency of the new millennia.

I didn't realize that it would ever really come close to being just that.