The Gold Bug Trap
Hello again. Well, once again the Gold Bugs are out in Full Force stroking their egos because they got the last 2 weeks right. They are all saying, "I told you, I told you". Wow, like after 2 years, they finally got it right, prices will skyrocket.
Why is it that, they never seem to play devils advocate on themselves. Of course not. My guess, which sounds pretty logical, is that GOLD Skyrocketed more last week then any time in history because of one thing. The ban of naked short selling. Bad news has been out for over a year. Gold has been coming down as of late.
It wasn't but 60 minutes after the BAN on Naked Short Selling, did GOLD Skyrocket to the moon. Hmmm.. can you see the connection? Yes, the Gold Cartels have been keeping the price of Gold down with Short selling Gold contracts. Such spikes, one must look at "different" immediate causes, and no one but a few did.
Below is what you will typically see in a GOld Newsletter, and my responses in red. Now don't get me wrong, I am bullish on Gold, but it will go through bigger corrections then what most people see based on Elliot wave perspectives.
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From Uranium-stocks.net Newsletter
> "Gold rises in times of significant economic concern, such as during the 1970's inflation, and so gold is telling investors what the US government is not; this crisis is very serious and will not be going away anytime soon."
Its been economic concern for 3 months, gold has tanked until the past week...
> "There is a possibility that we will see an all out "crash" in the stock market, similar in severity to that of 1929. If this is the case, which despite being gold bugs we hope it is not, then gold prices will shoot back up to $1000 and beyond very fast."
How do you know that? Gold has to compete with cash. Cash will be more important, and people will sell anything.
> However we think a more likely scenario is that the mainstream market will continue to suffer, gradually falling apart. More bailouts by the Fed will increase the money supply, devaluing the US dollar even more and pushing gold to new all time highs by the end of this year.
So did you predict the 15% correction a couple of months ago.? Then you are constantly repeating the same thing, without any real forward thinking.
Lets see if I get a response from Bob or not, and if he's chapped. My guess, it gets thrown in the spam box. ;0
My advice is buy some gold, but not a full position. The idea comes from the "all the same markets" theory. All markets went up hard, all markets will come down hard. Think about how bad people will need cash in the next downturn. Gold a will sell down and come down a lot less, and will go up earlier.
Adios Amigos!
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