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Dabble010

3,902 Posts.

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17/08/19

14:29

Post #: 40025083
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Originally posted by Skol: ↑

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.

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Interesting comment, first gold was going to $800 and now it's in a mania?
Contrasting arguments of opinion, seems to me you pick and choose at the time anything that remotely is in line with your agenda.

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