Showing posts with label Are the Chinese Stupid? NO!. Show all posts
Showing posts with label Are the Chinese Stupid? NO!. Show all posts

Are the Chinese Stupid? NO!

Central banks don�t want to go to a gold standard. But if gold is a barbarous relic, if gold has no role in the monetary system, if gold is a �stupid� investment, then why do the Chinese have 5,000 tonnes? Are they stupid?

If some scenarios play out, you are going to see the price of gold go up� a lot. And it may go up a lot in a very short period of time. It�s not going to go up 10% per year for seven years and the price doubles. It�s going to chug along sideways, maybe in an upward trend, with a lot of volatility. It will have a kind of a slow grind upward� and then a spike� and then another spike� and then a super-spike. The whole thing could happen in a matter of 90 days, six months at the most.

- Source, Jim Rickards via Wall Street Pit: