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NIA's Top 10 Economic Predictions for 2011
4) The mainstream public will begin to buy gold.
Although the mainstream media continues to proclaim we have a gold bubble, it is impossible to have a gold bubble when mainstream America isn't buying gold. The average American is more likely to be a seller of gold through companies like Cash4Gold, in order to raise enough dollars to put food on their table.
The mainstream public will apparently buy gold with dollars they don't have so that they can then sell the gold to raise enough dollars to buy food. That's what I'm told here.
2007
When people ask me why we made a 100 kilo gold coin with a 1 million dollar face value I like to tell them because the team wanted the challenge. Because we wanted to raise the bar of excellence in precious metal assaying, refining, and gold bullion. We have a solid reputation in raising the bar. We did it when we introduced 99.99% pure gold bullion in 1982 and 25 years later we're doing it again with 99.999% pure gold bullion.
You may find this hard to believe, but that was not a "mainstream" 2007 Saturday Night Live skit. This is.
Here's the original commercial as seen on "mainstream" TV in 2007.
It has been 3 1/2 years since then. I think the mainstream public pretty much knows what gold is at this point. They also know what bling-bling is. Just a hunch.
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
16 hours ago
6 comments:
Mark,
Perhaps bubbles only exist when the "average American" buys while the rich, aware of the impending collapse, sell at the peak. A natural transfer of wealth (or debt!) from the rich to the poor.
verification word was "ineral" as in "mineral"...
remy
remy,
Perhaps bubbles only exist when the "average American" buys while the rich, aware of the impending collapse, sell at the peak.
Perhaps!
And to add insult to injury, let's not forget that the rich can now sell many times per second thanks to the miracle known as high-frequency trading.
Last night Fox had ads for 2 dollar bills. They cost 10 bucks each.
But they give you another one for free.
So its 4 dollars for 10 dollars.
Coba
In order for mainstream America to sell gold, it had to have already bought it first.
We'll be in a gold bubble when people borrow money to buy it. Which may be happening if people are buying gold instead of paying their mortgage.
Coba,
I saw that ad! Is there no shame?
United States two-dollar bill
The most significant evidence of the $2 bill's reawakening would be that, in 2005 alone, 61 million $2 bills were printed by the U.S. Bureau of Engraving and Printing.
The insatiable demand from $2 bill collectors will perhaps eventually be met.
$2 bills for sale? 14 mg gold coins (less than 1/2000th of an ounce)? Amish electric fireplaces?
Good frickin' grief. Just when you think you've seen it all.
Charles Kiting,
"We'll be in a gold bubble when people borrow money to buy it. Which may be happening if people are buying gold instead of paying their mortgage."
It would be very difficult to fault your logic here.
Here's another thought. What if some housing price speculators have turned to gold price speculation as a way to keep current on a mortgage they cannot actually afford? Then what?
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