Originally Posted by IChopCars
I agree with alot of what you said...but not about buying bank stocks. IMO they are way to vulnerable in our current economy. When the USD collapses, bank stocks will plummet.
Not really. Gold is a hedge against the dollar. When the dollar goes down gold goes up. Gold has been the cornerstone of power since civilization begun. "He who holds the gold, rules the lands". Paper money was created as a representation of physical gold being held in the bank. Back in the day you could actually take your paper money to the bank and exchange it for physical gold. If the dollar crashes, we will be back to the stone ages, where you will be able to buy a cow to feed your family with an ounce of gold.
LOL Yes the call him Dr.Doom in the mainstream media. But he is actually Dr. Truthsayer. He says what others are afraid to say. He was right in 2001-02 when he predicted the market crashing. He was telling people to buy gold then when it was below $500/ ounce.
Gold is not something you buy to flip the next day. The fact that it went to $1900 and then slowly fell to $1700 means nothing. Investing in gold is a waiting game. People who bought before 2007-08 have doubled their investment as of today. Hold onto it and it may be at $3000-$5000 an ounce by 2020.
I agree, but at the same time, it will take time before USD dollar collapses.