MightyOne wrote: The panic selling to come, when everyone realizes that the world is not going to end as we know it, makes gold the best option for bears.
I am looking forward to $500/$600 an oz over the long term.
So you think the Fed is going to stop devaluing the dollar?
As soon as they do, a world economic crisis of another kind will arise.
The whole world would have to turn into Zimbabwe first, before the US $ could ever have that much value over gold again.
I lived in Argentina from '84 to '86. There were 2 currencies in circulation "Pesos Argentinos" and "Pesos Leyes". The old series had 10,000, 50,000, and 100,000 while the "newer" series had 10, 50, 100. The older series was phased out while I was there.
Before I left, a new currency was introduced: the "Austral". 1 Austral = 10,000 of the "NEWER" series.
In the time I was there, Argentina lopped off 3 zeroes from their currency and then 4 more zeroes!!!!!!!!!!!
I got on the bus with an Argentine friend of mine who payed our fair. After paying, he counted up in his head for a minute then told me that he just paid more for our fair than he did for his first house.
It's not Europe I fear becoming like, it is Argentina.