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$15,000 gold price by 2025? Jim Rickards and Peter Schiff!!
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<p>[QUOTE="medoraman, post: 4698282, member: 26302"]The problem I always had with these hucksters is no one thinks it through. If we DID have $15k gold, that would mean the economy was in free fall, the USD was no longer a reserve currency, massive rioting would be occuring daily. Sure, you ounces of gold would be retaining value, but do you want to live in that country?</p><p><br /></p><p>They always pull out Zimbabwe, Weimar republic, etc as examples. how about talking about the 99.8% of other currencies and timeframes? Will gold eventually go up in nominal USD? Of course, in a modern inflationary environment the natural course of all prices if slowly increasing in terms of USD. The Big Mac has seen the same price pressure over the last 40 years. However, to say this means a massive surge is simply ignoring 99.8% of modern human experience to scare you with the .02% scenarios.</p><p><br /></p><p>Hacks like this have always made PM a "scummy" area of investing. They predict these things every year, then like a broken clock they are right occasionally and new people think they actually know something.......</p><p><br /></p><p>See the old man on the right of that picture? Something tells me he was predicting a 5000% increase in gold when he still had hair and was fresh out of school. They predict the same stuff ALWAYS, regardless of markets. Its always doom and gloom.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 4698282, member: 26302"]The problem I always had with these hucksters is no one thinks it through. If we DID have $15k gold, that would mean the economy was in free fall, the USD was no longer a reserve currency, massive rioting would be occuring daily. Sure, you ounces of gold would be retaining value, but do you want to live in that country? They always pull out Zimbabwe, Weimar republic, etc as examples. how about talking about the 99.8% of other currencies and timeframes? Will gold eventually go up in nominal USD? Of course, in a modern inflationary environment the natural course of all prices if slowly increasing in terms of USD. The Big Mac has seen the same price pressure over the last 40 years. However, to say this means a massive surge is simply ignoring 99.8% of modern human experience to scare you with the .02% scenarios. Hacks like this have always made PM a "scummy" area of investing. They predict these things every year, then like a broken clock they are right occasionally and new people think they actually know something....... See the old man on the right of that picture? Something tells me he was predicting a 5000% increase in gold when he still had hair and was fresh out of school. They predict the same stuff ALWAYS, regardless of markets. Its always doom and gloom.[/QUOTE]
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$15,000 gold price by 2025? Jim Rickards and Peter Schiff!!
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