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Wednesday, August 24, 2011

The Top in Gold

Anyone who has followed this blog over the past year, knows my accuracy concerning Gold and the $USD has been spot on (pun intended).

I hate to be an "I told you so", but I have continually warned the gold bugs, "gold will not save you".

Once the entire herd - from Jim Cramer to Glen Beck - runs in one direction the outcome is predictable, and this bubble is set to implode just as the housing bubble did.

I predicted the top in gold just a couple weeks ago,
and now it can be confirmed on the 10 minute GLD chart.

I've already covered my gold short, but I'll be putting if back on after one of many inevitable dead cat bounces.

As the anti-cramer, I recommend every trader put on a short position in gold, and leave it on indefinitely.

Everything is playing out just as I predicted over a year ago, including the end of the era of baby-boomer investment, assuring the stock market will not bounce back, the next time it crashes... and as deflation continues over coming decades, it comes down to simple supply and demand.... There's a long overdue worldwide depression underway, one in which there will be little demand for luxury metals like gold & Silver.

What is in short supply is $USD paying jobs, and low interest loans... and until the sheople wake up, and throw the deadbeats (those who keep spending money we don't have), and the Lobbyists (the banks and corporations including GE) who have enslaved us, out of Washington, things are only going to get worse for most of us.

As things get worse; the demand will turn to basic necessities like food, and shelter; farm land, garden seeds, fishing tackle, and dry Ammo will be worth far more than gold.

To trade future targets in gold and gold miners join today


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