Ecotic wrote:What I see as different this time around is the rise of the internet and how all of the survivalists, preppers, hoarders, gold-standard libertarians, gun nuts, and general crazies (I'm not necessarily saying anyone here is) have found reinforcement for their views online and their numbers and collective power has swelled. And it's all egged on by survivalist t.v. like The Walking Dead, Doomsday Preppers, and by right-wing radio that's constantly trashing government and hammering home how America's $14 trillion debt will cause an economic collapse and our fiat money will go down with it. Add to that the Euro crisis which is constantly making people afraid of having their savings stored in banks or in fiat money, and you basically have an ever increasing global population that's scared stiff of not having something physical and tangible.
Well said! But we may have a difference between us in that I suspect from the tone that you are listing the above as incorrect and/or bad things, whereas I would view them as either correct and/or good things.
Ecotic wrote:You could see it a couple of weeks ago during the big correction, everybody was dumping gold and silver and you could see how the market wanted to make a far bigger correction but the demand for physical bullion was so strong it put a stop to the falling price.
The "everyone" who was dumping was limited to paper sellers, largely major investment banks who were dumping short paper (with the purpose of affecting price) rather than selling actual physical. In contrast the physical buyers reached a fever pitch, because they recognized that gold and silver were on a fire sale stimulated by the paper selling (since the two are still somewhat tied together).
Ecotic wrote:Gold and Silver are probably on a long-term decline right now (it's quite obvious that the money is flowing into stocks), but it just seems more and more people are getting afraid out there, and want the shiny stuff.
This last statement is internally contradictory. They are on a long-term decline? Perhaps you refer to paper prices. The decline in paper price simultaneous with record demand for physical just illustrates how the market is disconnecting, since it is not following supply and demand theory.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
