Looking at History: Argentina's Economic Collapse - Compare it to the US

[GigiBowman]

Looking at History: Argentina's Economic Collapse - Compare it to the US

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Argentina's Economic Collapse - Part 1 of 12

http://youtube.com/watch?v=rH6_i8zuffs&feature=related

If you really want to awaken the masses pass this movie on

 

[autobot]

I LOVE this video....CHILLS. Same banks caused the problems and we didn't even notice or care about this back then... Of course, we didn't know.

 

[gutteck]

The difference is that in the US we have guns and thousands of veterans…

 

[muh_roads]

The difference is that in the US we have guns and thousands of veterans…

Yep, when this happens in the US...let's just say it will not be pretty. We'll be doing more than just banging on pots.
When people are so used to having things who suddenly can not, it will be chaos.

 

[Fox McCloud]

someone on a gold website was saying that the markets are scary right now for the pattern they're developing--he pointed out that Enron went through a "head an shoulders" type gain/loss situation, before it just started absolutely tanking--he also pointed out the Argentina Peso did the same thing, and when it collapsed it was very sudden and brutal.

 

[jonahtrainer]

someone on a gold website was saying that the markets are scary right now for the pattern they're developing--he pointed out that Enron went through a "head an shoulders" type gain/loss situation, before it just started absolutely tanking--he also pointed out the Argentina Peso did the same thing, and when it collapsed it was very sudden and brutal.

This? Shesh that would suck.

 

[Fox McCloud]

That's the one! Thanks for finding it--I thought it was a 321gold or Jim Sinclair's website.

 

[muh_roads]

Hey Fox,

You said Jim Sinclair actually recommended selling gold at one point. When was that and what were the conditions?

 

[Fox McCloud]

Hey Fox,

You said Jim Sinclair actually recommended selling gold at one point. When was that and what were the conditions?

it was during the early 1980's when the Fed decided to fight inflation (for once in their lives...even then, Vockner said that if he could do it over again he would have suppressed the price of gold...which...almost implies he would have done nothing with inflation and pushed down the price of gold to make things look 'ok').

 

[muh_roads]

it was during the early 1980's when the Fed decided to fight inflation (for once in their lives...even then, Vockner said that if he could do it over again he would have suppressed the price of gold...which...almost implies he would have done nothing with inflation and pushed down the price of gold to make things look 'ok').

Interesting.

Anywho, so how is the price of gold artificially pushed down? Leasing metal they don't have as paper certificates?

 

[ThePieSwindler]

it was during the early 1980's when the Fed decided to fight inflation (for once in their lives...even then, Vockner said that if he could do it over again he would have suppressed the price of gold...which...almost implies he would have done nothing with inflation and pushed down the price of gold to make things look 'ok').

Gold is an investment that tends to gain in periods of high expected inflation. Over time, it keeps its purchasing power. But its great when you spectular properly on it. Its not some magical commodity, it just happens to go indemand in times of high inflation, so prices rise. You can make the best profits selling high, then buying in again when gold is back. The reason to put money into gold is for economic emergenies. I'm all for keeping a stash of 10k worth of gold though if youre also investing for retirement, but having the gold for potentially serious times. Im all for that. Love it or not, while inflation hurts, the dollar wont go to zero, but investments like gold will rise with the rice in prices, and outpace them because of the demand. I love gold, and its a great hedge for inflation risk. But its not magic.