Nemo!
Are you trying to give me a heart attack?? If you're right, then I'll be underwater in 2018!
Uh, if I owned any gold, I mean, which I don't. Nope. Not a bit. At least snapits has gold in his mouth. All I've got is amalgam fillings and actual teeth.
Some pundits I respect think gold will bottom in the $800s. I don't know where it will bottom (just see my signature line for proof of that.) A credit crunch could lead to a deflationary period in which the price of most things falls dramatically, and gold won't be immune to it. HOWEVER, such a crunch will likely be followed by hyperinflation... during which gold's wealth-preservation qualities should create great demand.
There are so many possibilities that I don't even want to guess what's going to happen. I only know how they ALL end - which is badly. For those who are fortunate enough to have an investment portfolio at all, I'll only say that it's flat-out stupid to not own P.M.
But it's not surprising that so many don't. Is it any wonder that, in the 1920s when so many people were flush with paper profits, almost no one converted their gains into cash (and fewer still into gold)? It's for this same reason: A disbelief that something really bad is actually possible. Even if you believe in this, WHEN will it strike? Uncertainty sometimes freezes the best of us into immobility.
There's lots of uncertainty about what's coming. I've been "preparing" for a nebulous "something" for almost fifteen years. Some people say it's not worth spending so much of life getting ready for such a thing. Maybe they're right . . . except that I also like the direction it takes me. Social independence feels GOOD.
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