DoChenRollingBearing
Yellow Jacket
...
FOFOA has a public post up at his blog. His latest post (long!) essentially recaps many of his views through time, but he ups the ante on when gold may go through the roof (after a BIG decline in paper price). His latest piece has the hopeful title: "2016: The Year of the Fire Sale".
fofoa.blogspot.com
He has thought that we could see "paper gold" sink to perhaps $400 right before the market breaks -- that is, NO ONE would sell at $400 (certainly not me), and the phyzz would disappear. OK, I have always accepted that, paper will go to zero as those who owe physical gold default (and just pay in FIAT$).
If his scenario more-or-less comes true, what price do you all think we would have to reach (on the downside before the reset) for all the gold to disappear (from the LCSs, APMEX, etc.)?
Before I post my guess (and just a guess, because I don't know), I ask you all to post your guesses!
(Note that I will buy much more Au should Mr. and Mrs. Bearing win the $800 million Powerball Sat. night...)
FOFOA has a public post up at his blog. His latest post (long!) essentially recaps many of his views through time, but he ups the ante on when gold may go through the roof (after a BIG decline in paper price). His latest piece has the hopeful title: "2016: The Year of the Fire Sale".
fofoa.blogspot.com
He has thought that we could see "paper gold" sink to perhaps $400 right before the market breaks -- that is, NO ONE would sell at $400 (certainly not me), and the phyzz would disappear. OK, I have always accepted that, paper will go to zero as those who owe physical gold default (and just pay in FIAT$).
If his scenario more-or-less comes true, what price do you all think we would have to reach (on the downside before the reset) for all the gold to disappear (from the LCSs, APMEX, etc.)?
Before I post my guess (and just a guess, because I don't know), I ask you all to post your guesses!
(Note that I will buy much more Au should Mr. and Mrs. Bearing win the $800 million Powerball Sat. night...)