Been awhile since anyone posted. Kim , are you out there? :) Much has happened, not that i'm going to go into everything right now. But I thought i would post a thought that i had, that deals with the recent run-up in metals like gold silver and palladium. Particularly gold, since for 4000 years it has been the money of last resort among failing fiats.
The neat thing is that people being what they are, they are emotional and subject to superstition and are susceptible to overemphasizing certain price point or milestones. For instance, $500 gold was a milestone, as will be $850 (the old high from the 80s) and $1000, the first four-digit price in dollars. $539.30 is not an emotional milestone, nor is $682.
Now that we are all living in a pure-fiat world, people in each of the 13 major currencies will hit each miletone particular to that nation at usually different times, and each will bring a new rush of buying to the metal at different times, thus propelling the value of the metal forward in all currencies, with some currencies being forced on to their own, next milestones.
Today, dollar gold is gaining, having passed $700. It's actually now at 708.50. We're just over 900 in Australian dollars, and just over 550 in Euros. That's three nice big groups of people all seeing milestones in their respective currencies. We're also over 850 swiss francs, at 863 actually. Another strong performer. The strength of buying post-milestone is pushing us towards 1500 Brazilian reals, 400 british pounds, and 800 Canadian dollars. We're closing on 20,000 russian rubles and 80,000 Japanese yen. About the only currencies not near a significant milestone are the Chinese renminbi, at 5667, the mexican peso at 7689 and the south african rand at 4299. But these currencies should be positioned to take their turn in pushing things higher, once the Russians and especially the Japanese (big savers, those Japs, with plenty of yen to spend on money that isn't someone elses' debt) hit their milestones.
That's the way i see it, anyway.
