"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."
- Ludwig von Mises

Tuesday, March 1, 2011

Calling All Gold Bears!!!!

You know who you are.  Calling for a "correction."  Calling it a "bubble."  Saying everything is going to be fine.  Saying the Dow/Gold ratio will soon revert in favor of the Dow...

Where are the Gold Bears?

I think I hear them here:




I'm not saying that gold will continue this ascent forever.  It may just as well drop at any time. But over the long haul, I just don't see things getting better until we really experience the type of meltdown we barely averted in 2008.  And the next crisis will make 2008 look like a picnic.

1 comment:

boatman said...

exactly.