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Ottawa, Illinois | Fascinating article. I would agree gold is over sold. That market works like any other market. If the sales on paper were real, there would be a problem.
Yes, it does make sense that the fed has been busy buying toxic loans and they do not wish to show their books to congress. I can see them attempting to buy the bad loans in an attempt to keep banks solvent. So it saved the banks asses but they are still not interested in loaning more out too quickly. This creates a problem for Obama, Geithner and the FED. They criticize banks for making bad loans but they want the banks to make more bad loans to jump strart the economy All the time, the root cause of today's problems is the government encouraging and making bad house loans.
Buy gold? I'd say it is always darkest before dawn. People think it is goign to get worse when it is at its worst. Gold is over proceed. I would be hesitant to buy gold right now. That said, I will keep an ear our for any European loan defaults. It wont be hard to miss it if it happens. Then, I will take this advice much more seriously. ( I dont think its a joke now. I am just not ready to commit just yet.)
Thanks for a good read. | |
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"How much imaginary gold has been sold?"
