Gold is back.. Lack of faith in currencies
Dear Diary,
It seems like dejavu all over again. We are about to see currencies swing so wildly that no one will have any faith in stock markets soon. Very soon. After witnessing live the 995 point drop in the stock market on 5/6/2010, it is quite easy to see the looming crisis before us.
In a matter of hours, I saw on CNN people in Greece fighting for their bankrupt country. When a few protesters began to throw bottles the police came out in force. Shortly thereafter the stock market plummeted 995 points. The Euro may be collapsing which will devalue all of Europe and the dollar will sky rocket as well as the Yen, which moved 5% in 1 week.
Every day that goes by as the dolalr rises, we lose another foreign buyer of our goods, materials, equipment, and home buyers of the multi-mllion dollar estates along the coasts of our country.
The only stable currency going forward is gold and watch out for black Tuesday next week.
My wife and I often discuss the “honey theory”, which states that when the night comes, husbands and wives turn to each other and say, “Honey, do ou think we should sell?”.
The timing of this conversation during the week is crucial to the impending result. During the depression, on Thursday, there was a computer glitch which was spoken about during the weekend. By the following week havoc had taken the market down 50%. When the faith of the actual market collapses, people will run the the hills. Watch down 2000 points next week.
To be continued……
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