That price might mean something if the dollar had any value. It sounds like a big deal until reality kicks in.... like...weak dollar,fees,taxes,inflation.
Do you remember when bread was 29 cents/loaf? The dollar is doomed because of the Obama program.
Buy something of real value - maybe real estate - because the dollar is printed without any value backing. The people with real assets will survive - gold - and the rest of the pigeons will be broke.
So, are you going to sell? You don't technically make any money unless you sell. Seems like a stock that paid a dividend would be more useful, unless you had to have gold to buy bread.
You can make money trading gold if you buy it right and sell it right. However, adjusted for inflation, the price of gold should be $2200.00 per oz. Check it out.
Personally I don't think it will stop until $3000 and maybe more. The next round of quanative easing(MORE BAILOUTS AND MONEY PRINTING) is set for after the elections and it should drive the price even higher.
What I have not heard here is CHINA.. What they do in the next few months to either revalue their currency.. or devalue ours..will also start comming into play..
China is very quietly selling it's US bonds and buying gold. The rest of the world is tired of funding our deficit spending and it seem the only buyer is the Federal Reserve. Which means we get to pay them dividends on our own bonds. Now that is pretty cool.
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