RE: POG6 Aug 2020 11:09
Sorry Petro but I echo Speedy thoughts here. Also not sure which gold graph you are looking at?Gold rose from Oct 18 from 712 all the way to 1900 high which was in fact the end of August 2011 and only began to drop in Oct 2012 back towards 1000. What is different this time is the fed have run out of tricks. After the last round of QE the fed was actually reducing the monetary supply in an opposite excersise to money printing. That ship has sailed now with negative rates and the sheer volume of what looks like 5 trillion in money printing by the US alone this year. I for one dont think this is the end either, but sadly just the start of the global fiat currencies going to zero, what timeframe, Im not sure. But my money is in Bitcoin and gold for the long term. We were already heading to a recession before Covid, its just sped things up.
I do however believe Oil longer term will fly again, its used in everything, if trump gets in, Oil will be over 100 dollars IMO within three years. Scary times indeed and I am hoping for a scenario where the world monetary system doesn't need to collapse for my investments to make me rich! but collapse it will, its just a matter of when and how. Probably far slower than many predict I feel.