Originally Posted by
Bossobass
What about the suckers who bought a home in CA, FLA, AZ in 2007?
When gold was $1900, my neighbors bought a Cadillac Escalade. If they had bought gold instead, would they be feeling pain vs the SUV, tires, oil changes, registration fees, plates costs, insurance, gasoline, personal tax, etc., etc? When they bought the SUV, did they plan to keep it for 3 months and sell it?
If you asked them about buying that much gold, they would say without hesitation; "I can't afford that!!!", but when you mention that they had no apparent problem finding the means to purchase the SUV, you'll immediately get; "But, you HAVE to have a CAR!!!".
But, let's stick to silver here, since that's the subject of the thread. Silver has outperformed gold 2:1 since the meltdown. Gold is at or above where it should be, silver is 1/2 what it should be against the USD. That means, IMHO, that with a USDX at 80, silver should cost 60USD. If TPTB were making ANY moves to strengthen the USD, I would still hold silver. But, they're doing the opposite, continuing to debase the USD.
My point is a very simple one. While virtually everyone I know has just spent thousands of USD to satisfy the demands of the Christmas obligation and the latest iPad, iPhone, Plasma TV, Premium Cable Package, Dining Out, sucking down booze by the case and really cool shoes... it would be absurd for me to think of them as suffering any pain if they had allocated a percentage of those completely useless expenditures toward silver at $48.
Bosso
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