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<p>[QUOTE=&quot;Juan Blanco, post: 1577566, member: 41665&quot;]Thank you InfleXion! That&#039;s where I&#039;m going with this, more or less. </p><p><br /></p><p>I used to counter the Paper-Bugs argument (for at least 6 years now) that tons of noobs were buying Au/Ag with SHOW ME THE NUMBERS (they couldn&#039;t) and so &#039;NO, IN FACT THIS IS NOT A BUBBLE&#039; (because US investors own no Gold and have not participated in this asset-class at all, if ever.) </p><p><br /></p><p>1) The US Retirement Mkt has shown no interest in PMs: &#039;No interest&#039; means &#039;No Bubble&#039; and it really is that simple.</p><p>2) This corollary follows: &#039;YES when US investors finally pile $Trlns into PMs it should indicate a Bubble&#039; or &#039;YES when US PM allocation rises back to 15% that should indicate a Bubble&#039; </p><p><br /></p><p>My underlying premise (which I&#039;m now ready to doubt or contradict) has been that &#039;A GLOBAL BUBBLE IN X CANNOT EXIST UNLESS THE LARGEST MARKET SHARE IS FULLY INVESTED IN X.&#039; Sure, the US retail investor has probably always been a low-information participant, but - what I didn&#039;t consider - we can miss future global Bubbles because we&#039;re already sidelined, irrelevant, locked in the padded cell. The dumbest money on the planet - trapped in 401ks - is as duped by Wall Street propaganda as the loyal Soviet Citizen ever was to the Bolsheveiks&#039; lies. </p><p><br /></p><p>Scary conclusion?&nbsp; We (99% of Americans) cannot and WILL NOT <i>ever </i>move into PMs: we&#039;re totally in thrall to the Paper con, cannot see the forest for the trees. So US retail money is a poor gauge of anything but utter foolishness, by the numbers... the US mkt will never &quot;show&quot; a PM Bubble, so long as the Dollar Regime lasts.</p><p><br /></p><p>(And YES, the Paper Fooled will eventually lose everything - up in smoke it must go! &quot;Got Gold?&quot;) </p><p><br /></p><p>Sidenote: I&#039;m surprised no one has yet mentioned Dmitry Orlov (CT Search reveals no mention of his name) - his work is excellent &amp; informative. Last I heard, he was a live-aboard in the Boston Harbor, LOL</p><p><a href="http://en.wikipedia.org/wiki/Dmitry_Orlov" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Dmitry_Orlov" rel="nofollow">http://en.wikipedia.org/wiki/Dmitry_Orlov</a>[/QUOTE]</p><p><br /></p>

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