[quote=socrattt][quote=partypup]I warned you fools 2 years ago.
Got gold?[/quote]
Come on Partypup, we were all buying in unison. I was a huge proponent of silver more than 2 years ago and guess what, it’s outpaced gold at an astounding rate. That said, it may just be time to hit the sell button. That’s only if you’ve got some good investment ideas as the dollar certainly isn’t any form of an investment at this point.[/quote]
As I recall, most on this board were too fascinated with real estate, stocks and miscellaneous paper to really give serious attention to metals. So I don’t think we were all buying in unison 😉
And you are spot-on about silver. I had been split 75/25 gold/silver, but I diversified my holdings heavily towards silver about 18 mos ago and have not regretted that decision. Silver is much more volatile (even though the bigger gains are to be found there – up 110% in the past 52 weeks), and most simply do not have the stones to ride that coaster, which is why gold continues to be the safest “sure bet” for the average investor.
But I would not hit the “sell” button now, my friend. It’s about to get a lot worse. $150-200 oil will kill whatever is left of this economy and this faux/imagined/illusory “recovery”. The blinders will come off for everyone this year as they begin to realize that we are firmly ensconced in a depression that will not end anytime soon because the dollar is effectively worthless abroad now.
If your plan is to diversify out of metals and into food, however, that might not be a bad move. Food and water will be more valuable than gold or silver in the not-so-distant future.
But any other diversification at this point is unthinkable. Because ALL paper is going *poof*.
