Nowhere to run, Nowhere to hide

Gold is losing its Midas touch. Has dropped below $1200 at $1193 an ounce down 21 bucks. Is this the beginning of the unraveling of that bubble?

I suggest those former gold owners buy Campbell's Soup. Not the shares, but the actual cans of soup. As in Harlan Ellison's "A Boy and his Dog" canned goods may well become the new currency.

I think you make a good point. I also think one has to ask why? For gold to suffer as miserably as some brightly colored pieces of paper with no hard backing and issued by countries devoid of fiscal discipline does not make sense.

Erwin Miller said:

Gold is losing its Midas touch. Has dropped below $1200 at $1193 an ounce down 21 bucks. Is this the beginning of the unraveling of that bubble?

I suggest those former gold owners buy Campbell's Soup. Not the shares, but the actual cans of soup. As in Harlan Ellison's "A Boy and his Dog" canned goods may well become the new currency.

Goes up'n'down like any commodity. I'm glad it occasionally goes down, because I don't buy at peaks.

Ya pays yer money and takes yer chances. A mattress of cash or numbers in a bank account is like a tray of water on the counter-- It slowly evaporates until nothing is left. Stocks and to a lesser extent metals, are like a tall glass sitting on the counter-- Occasionally it can tip over and spill half yer water.

Real Estate may be better if purchased in a dip, unless the govt raises property tax go too high for maintainability, or unless the govt decides to seize the property for the benefit of the collective.

Bullets don't make great trade goods if it gets really bad, unless you can trade with friends. A stranger might trade for yer bullets then shoot you with em.

Canned goods are too heavy to tote and do have expiration dates. Mac&Cheese is the overland hiker's staple-- Compact and light with lots of calories if you have the luxury to cook. You don't get malnutrition right away eating junk food. Granola bars are light and reasonably compact and you don't have to cook em, but they do have expiration dates. Maybe stock up on Little Debbie's. Those things are so full of chemicals I don't think they can go bad .

http://www.kitco.com/charts/techcharts_gold.html

Look at the 10 year chart at the bottom of the page. It will take a lot to bring gold down to where the current rise stated. If the "correction" continues I bet it doesn't go much below $1000/oz.

Andreas