I didn't say gold was in a bubble I said ASX gold stocks have been dragged into the US equity bubble. Seriously some people need to understand that the financial system is broken.
The NY Federal reserve bank just announced unprecedented loans to the market totalling $1.5 trillion over two short days which is on top of the $198 billion in loans given to the overnight repo market the day before which don't include the $650 billion of loans provided to this same market since Sept last year when it started failing with overnight rates spiking to 10%. When I say loans I mean debt/printed money, no wonder the bulls are back and the index futures have turned green, that's the biggest three day bailout in history. What you and others don't understand is that the Federal reserve bank of NY is battling for its own survival because if it lets its banks fail, which they certainly would without this gigantic rescue of the markets, they would also fail. The only thing standing in the way of the NY Fed's demise are those printing presses. That's the nature of bubbles and this is the biggest bubble in the recorded history of the world. I'm not going to tell anyone where to invest their money but personally the only real exposure I have to the banking system at the moment is an undrawn credit line secured by property and a few day to day accounts with minimal money in them to receive some salaries and pay for day to day expenses. If the banks fail and my bank reneges on the credit contract I have with them I'll be a little upset but I wouldn't lose a minute of sleep. I also have enough cash and precious metals out side of the banking system to ensure I won't be lining up behind you when the banks shut their doors and direct you to their ATM's so you can withdraw $50/day like the poor people in Greece had to do in 2010/2011. If you are going to stock up on paper, stock up on paper money not toilet paper, it will have dual use for what it will be worth once the banks fail. And before you call me an alarmist, the markets and banks are bankrupt, if they weren't they wouldn't be printing money at this alarming rate to stay solvent. It's just a fact but the sheeple have been led to believe that this bankrupt system is normal. You believe whatever you like, I've protected my family as best I can and I'll put my perspective on these markets out there. You can take it or leave it.Esh
(20min delay)