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Silver next upswing
- Thread starter d-lod
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After correction of 49.78 to 13.63 of silver in 2011, it rose to 21.13. That was the first bull wave.
Wave i === 13.63 - 21.13 = 7.50 -----55%
Wave ii === 21.13 - 13.89 = 7.24 -----34%
Wave iii === 13.89 - 21.52 = 7.63 ---- 55%
---------"------------- 26.11 (1.6 x wave i)
Wave iii has to reach 21.52 / 26.11
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Ahhh, but when there is a 75% implosion in the market, there is going to be (temporarily) an implosion in PM prices for a term due to frenzied fund raising. After THAT there will be steady price growth but not to the wishing levels that some believe, but to back to historical valuations.
Remember, the value of Au has remained steady for millennia. In Imperial Rome a gold Aureus would buy you a nice toga, In Medieval England a Noble would buy you a nice short tunic, tights and belt. In the U.S. Today, a single gold AE can be traded for a nice suit. The value of Au has remained constant, the inflationary debasement of the underlying currency has been what inflates the "price" of gold.
It was so in Roman times, and it is so today...
https://en.wikipedia.org/wiki/Roman_currency
RR
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you must be right, so here we conclude that investment in gold or any natural resource for that matter keep us afloat.
But right now it is matter of where to park your hard earned/saved/looted money .......in any uncertainty, people trust real money, be it bubble of 2000, 2008, and now in 2020 (covid) only the natural resources will rise.
And for me, I may buy many thing for 1800$ than that suit.
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Hmmm. You said: "Remember, the price of Au has remained steady for millennia. In Imperial Rome a gold Aureus would buy you a nice toga, In Medieval England a Noble would buy you a nice short tunic, tights and belt. In the U.S. Today, a single gold AE can be traded for a nice suit. The value of Au has remained constant,"
But in fact it appears that what once cost 1/4 oz, now costs 1 oz. So the price of Au is 1/4 of what it was and its value has not remained constant.
I know I'm being a bit of a pedant, but there are plenty of these "goldbug myths and sayings" (for lack of a better expression) that we happily trot out without sufficient examination. And plenty of them turn out not to really be true when properly examined.
But in fact it appears that what once cost 1/4 oz, now costs 1 oz. So the price of Au is 1/4 of what it was and its value has not remained constant.
I know I'm being a bit of a pedant, but there are plenty of these "goldbug myths and sayings" (for lack of a better expression) that we happily trot out without sufficient examination. And plenty of them turn out not to really be true when properly examined.
Sorry but I have to disagree! If we are going to run with similar weights of Au, which I guess for this purpose will be 1/4 ounce, then lets use this as the standin for our current era:
https://www.jmbullion.com/5-liberty-gold-eagle-xf/
Note that it's a circulation coin, not a bullion coin. I don't know about you but I can purchase a very nice suit for this amount. In fact I've never spent this much on one in 60 years. Not an Armani, but a nice suit. Just as in ancient Rome and Medieval England. The value remains constant. I have to stand by my assertion.
RR
https://www.jmbullion.com/5-liberty-gold-eagle-xf/
Note that it's a circulation coin, not a bullion coin. I don't know about you but I can purchase a very nice suit for this amount. In fact I've never spent this much on one in 60 years. Not an Armani, but a nice suit. Just as in ancient Rome and Medieval England. The value remains constant. I have to stand by my assertion.
RR
