GOLD 0.51% $1,391.7 gold futures

It's quite simple.Because every now and then there's herd...

  1. 32,842 Posts.
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    It's quite simple.

    Because every now and then there's herd instinct afoot. People buy gold because people are buying gold, and suckers listen to the likes of Jim Rickards and Peter Schiff who cash in on these manias.

    The 1980 gold mania, I watched it. if you look at it carefully, you'll see the top is exactly the same shape as the 2011 gold and silver mania, but the drop was quite sudden and very devastating to goldbugs who thought they were going to be rich. But after the sheep were shorn, the only people who were rich were the gold dealers.


    https://hotcopper.com.au/data/attachments/1689/1689178-ef7d0a5067a658205a71ce09f93b0309.jpg

 
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