imported post
Quips wrote:
So, where is the problem? One problem is gold at $500 an ounce. There is a lot of people and banks buying it for the price to climb like that. No doubt the buyers are taking advantage of recent "strength" in the dollar and are dumping them to buy gold.
Not good.
Gold at $500 and ounceis not a problem...unless a person doesn't have any
GoldIS a barometer measuring world confidence in paper currencies, world leaders, and corporate/government ethics.Goldat $500 an ounce is a vote of no confidence in all these areas.
It will be interesting watching the effects of the ECB 25 basis point rateincrease on the dollar and gold chartstoday.
Trading is true democracy in action. The dollar votes we cast, in the marketplace, have real influence without the coerciveness associated with pseudo democracy operating under the principle of 'might makes right'. Trading allows us to protect ourselves from those inclined to pick our pockets in the polling places and at the printing presses.
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