gold is doom!, page-107

"If you like corn flakes and you go to the supermarket and find corn flakes 60% off - you would buy up and be happy."

Under those circumstances I would buy the corn flakes, but I cannot see any similarity between a purchase of corn flakes at discounted price and gold at current prices.

You see, in the corn flakes case I know that the price of the stuff is being discounted from its normal price, which I can figure out by just walking to a different shop or supermarket. Besides that I also know that the discount is temporary, that is, just promotional.

If gold is selling at $1,200 and somebody offers me some of it at $1,000 and I know that it is genuine and not stolen, I would be tempted to buy it in order to make an immediate paper or real profit of $200.

However this is very different from buying it at $1,200 on EXPECTATIONS that sooner or latter it will be selling at $1,400.