HAHA this thread is great.
Skol and David.. I like the fact you are being contrarian and have your own opinion, you may make a motsa or fade into the background in shame, who knows.
Personally, Oil and Gold are too different to compare judgements on. Gold is precious metal, the key word there being precious, meaning hard to obtain and fairly useless other than as currency.
Oil is useful, its demand increases and decreases which causes over-supply and under-supply and thus fluctuations in the price...
Oil in 2007/2008 fell because the world went from boom, having lots of money, huge V8's, V12 cars, everyone having plentiful amounts to spend on travel.. to unemployment, where people had huge debts, defaulting and 0 spending money. If you dont have a job, you dont need a car..
Even if this is GFC mack II, as long as the FED/ECB keep printing money, and the world is on the USD based currency system, GOLD will rise.
In australia though, if we are kept afloat by china again (seeming less and less likely) our dollar will skyrocket and most likely, we wont see the full benefits of a gold increase in USD.. thats just how fair value works..
QEIII will increase gold.. how much? depends on how much they devalue the USD..
It isn't that gold is more/less valuable, its that the currency is devalued.
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