As menta refers to Bob Prechter's recent observations:
"Every one of these statements was -- and still is -- correct.
If markets follow the rules of mechanics, silver would have risen to the moon for the stated reasons.
But silver had already peaked at $50 per ounce two years prior to the book's publication. It did not bottom until 13 years later after falling an incredible 93% in value..."
The question is -- will silver's history repeat itself now?"
I also read Prechter's article.
There is a different world now;
** China's citizens now have access and official encouragement to buy PMs.
** The PRC has a growing middle class.
** India is also growing a substantial middle class.
** The Internet is increasing transparency into the financial world - previously we only had rare glimpses into its workings.
** GFC 1 has shown the vulnerability of allowing money moguls to run a system that is clearly flawed - fiat paper promises backed by belief & goodwill.
** Panic selling of paper assets - like Municipal and National Bonds will likely push the system off its axis.
** Where do people stampede to during financial systemic failures.
I suppose the questions is, has Prechter considered all of these factors?
It may be a bumpy road, but like garry w, I won't be putting my money into Bonds or Paper-backed gold certificates either.
cheers
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