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If you're thinking about buying gold, I would advise you to exercise caution. There have been a number of high profile articles like this one in the last week o
by IAmGraydon 2y ago
If you're thinking about buying gold, I would advise you to exercise caution. There have been a number of high profile articles like this one in the last week or so, and several of them came from people who stand to profit from you buying gold. As an example, this is one from Peter Schiff that came out Friday:
https://investorsobserver.com/news/3500-gold-means-life-in-america-is-about-to-change-in-ways-few-can-imagine-economist-says/ https://investorsobserver.com/news/3500-gold-means-life-in-a...
It turns out Peter Schiff owns SchiffGold, a large gold dealer. This guy is saying we all need to own gold due to economic turmoil, and then turns around and sells it by the ton.
Also, it's worth taking a look at the Gold/USD since 1970 on a log chart. The rate of increase we're seeing right now is not at all unusual, and it has gone through periods of much faster growth. From 1970-1980, it increased 3000% in only 10 years.
It's also worth noting that gold fell sharply in the days following the tariff announcements (6.66%, oddly enough) and then took off. The immediate reaction to economic news is typically smart money because they can estimate the longer term impact faster and price it in. The delayed reaction usually comes from dumb money.
Something just feels very off about this to me.
- pjc50 2y agoThere's a long tradition of people talking up doom so they can market supplies to preppers. If those people get anywhere near power they will create the doom so they can fulfill their marketing. On the other hand, as the Economist said, there's another 1300 days of this.
- jen729w 2y agoWell there's that, but also here's a ten-year graph of GOLD.AX. | / | / | / | / |/ +------
- deleted 2y ago[deleted]