I'm sick of the doomsday stuff too. Right or wrong its getting real old.

smells like lots of armchair qb's here

I'm not sure if you're referring to me or other posters, but I posted this in the giant "silver" thread back in February 20th of this year (2011):

"I know I'm going to be looked down upon, ripped upon, or flamed in this thread for posting my thoughts, but here they are.

Silver is a bubble."

If you want to read the complete post, it's post number 66 in that massive silver thread. I did NOT armchair silver (although I never said gold, they are/were/still are the same thing to me basically)

Bump

nice bump, I just got my red envelope from grandma today for Chinese New Year and was thinking about buying some gold just to keep it. Am still not too sure if it's a good timing to buy 1 oz of gold bar. Thoughts?

don't flame if my post has nothing to do with the market analysis or whatever you guys are arguing/discussing.

Does getting the "red envelope from grandma" mean the same thing as a visit from "aunt flow"?

Not sure if you just bought your first TV or subscribed to your first news paper or what. Have you ever turned on the your tv and heard the commercial for the 10 o'clock news and not heard something to the effect of "2 children shot and killed in the park today, aids spreading like wildflowers in (your town), and find out why eating lettuce increases your chances of losing your balance and dying from your fall, coming up 1t 10:00."

no, in Asia, during chinese new year, elders give younger generation envelope with money in it. It's a tradition. So I have some spare money to invest.

For a second I thought you were GomTV from Stars.

What makes this thread all the more amusing is that it's not even about whether OP "thinks" gold is in a bubble, it's him celebrating a stellar call on the bubble popping and trying to question where the money will go. Calling for a top at $1600 then having the price go to $1900 and then back to $1700 as being some kinda victory is pretty lol. 5 years from now all these people trying to justify why gold/silver rising makes no sense, as opposed to trying to learn why they're rising, will look back and wonder why protecting an ego was worth more than $. But then again, I guess the same thing could have been said 5 years ago from now too and nothings changed. Yawn.

Why do you think gold is rising/ will continue rising? Can you share your opinion on gold for the next year and maybe a long term perspective as well?

Reasons #1 and #2.

http://www.intrade.com/v4/markets/co...tractId=743474
http://www.intrade.com/v4/markets/co...tractId=743475

Well, a couple links that sort of scratch the surface as to what's going on:
http://forumserver.twoplustwo.com/sh...6&postcount=52
http://www.godlikeproductions.com/fo...age1066365/pg1

But to put it even simpler, if you understand that gold is a monetary metal and the history for how it became such (large assumption here since most people don't understand sound money, gold, or currencies), and then you look at what the monetary policy is with central banks all over the world at the moment, it paints a pretty clear picture for the most probable long term trajectory of gold and other hard assets.

Or to put it even simpler, more money/liquidity is being pumped into the system than the real value of goods/services in the world would reflect. It's currently being stockpiled on peoples books in bonds, currencies, and other paper instruments. As government spending continues to increase and as inflation begins to creep in, all it will take is a psychological shift in thinking from a very small % of people to start moving some of this money currently being stockpiled in paper, into things that are deemed more likely to retain purchasing power. Gold will thrive in this environment, since historically, it is the safe-haven alternative to fiat currencies and inflation.

So in an environment where governments can't stop spending, bailing out, and stimulating, it will only take a miniscule % of the money currently flowing into paper assets to flow into gold for the price to really take off. More so than most equities since an economy dealing with high inflation will experience a reduction in purchasing power from it's citizens, creating a lot of uncertainty, and driving a lot of companies in various sectors out of business as resources are reallocated to more productive areas. So unless you think the US politicians have the stomach to make meaningful cuts, as opposed to just monetizing the debts, then the current trend in motion is like a runaway freight train.

I see your argument, but wonder if Gold could have increased too fast and could be overvalued. If gold was trading at 17,000 instead of (about) 1700 would you still think it is a good buy?

Never seen a site like this where you can live bet events. Have you ever used it or do you think/ know it is legit? You can get about 45-1 on Newt becoming President.