I sincerely hope you do well with your stocks and that you can also join me in the wonderful life that retirement offers later this year as I believe you plan to.
Regarding the Gold price I have no doubt that one day in the not too distant future the price of Gold measured in US dollars printed out of fresh air will reach $3,500.00.
However; in some respects it’s already doing all that I ask of it. I have mentioned before that a house I saw in the UK two and half year back now still remains for sale. Thing is now getting 65 UK pence for my dollar instead of 42 and the subsequent rise in the gold price means today I would only need to sell 40% of the physical Gold to purchase the house.
As you are a one for making notes in your diary make a note of how many ounces of Gold you could buy for the current value of your homestead. Then compare it once again when Australian housing drops by around 50% in the next few years and our dollar reaches parity with the Mexican Peso!
Never happen I hear you say, well my friend just wait and see, because if the next generation can’t afford to pay your inflated house price who will be the buyer? I believe the current median price for a home in the USA is around $200,000.00 and in Australia it’s more than twice that. Add that to your conviction that once something has been in a bull market for a long time then the price must be due for a fall, maybe I am being far too conservative warning you of a 50% house price crash.
Mull those thoughts over during your next stint of hours of endless boredom interspaced with a few minutes of shear adrenalin rush.
Will be travelling about a bit next so will not be able to banter for a day or two.
