Gold and silver up +2000%.
- Thread starter Debaser82
- Start date
Quote from Debaser82:
It happened in the seventies. And guess what: The world didn't end.
Why can't it happen again?
Its a myth that Gold is a hedge against inflation. Gold was $850 in Jan 1980.
Gold price directly related to fear. People can't stay afraid for ever.
What an incredibly stupid thread. If any of those commodities were ever up 2000% in any time period, I'd have more problems than just where to find an AK-47. 2000% would imply gold can reach $21,000 per troy ounce. Yeah, uh huh, right. It doesn't really require any response because it has no credibility, nor requires any thought because it will never happen. Not in my lifetime, and not likely in anyone's lifetime that ever reads this thread either.
In 1970 gold was $35 per oz. So i guess there is nobody alive today that was around in 1970 because thats OVER 2000% increase in 1 lifetime. (actually 3000%)
Silver is more modest and only up about a little over 1000% since 1971 when the average silver price was $1.55 per oz.
I think when the economy crashes, bwolinsky is going to be one of those people that says "Man, i wish i would've listened to those guys on elitetrader instead of my own inexperience."
For what it's worth, the DJIA was up by more than 2000% from late 1974 to late 2007.
Furthermore, Debaser82 could have been referring to a 2000% gain from the late 1990s / early 2000s bottom of 250 US Dollars per ounce.
A 2000% gain from there would "only" be to 5000 "US Dollars" per ounce.
While I understand there is a chance that gold may not reach 5000 "US Dollars" in the next 36 years, the possibility is much greater than "no credibility" or "never happen".