The talk today is all about George Soros call that gold is in a bubble. First off let me remind everyone the Soros isn't an idiot. He's one of the most savvy investors in the world. I expect George knows what a bubble looks like and what it doesn't look like.
Currently less than 25% of all professional money managers have ever owned gold. Does that sound like a bubble?
I'm just guessing but I doubt that 1 in 100 average Joe's have ever owned a gold coin. (I'm being generous. I suspect the true number is less than 1 in 10,000). I doubt 99% of the population has ever even seen a gold coin. Does that sound like a bubble?
During the housing bubble it wasn't unusual to see people camped out overnight waiting to bid on real estate. Sometimes the builder hadn't even broken ground yet.
Has anyone seen a line in front of the local coin dealer waiting for the doors to open lately? When you do then we can talk about a bubble.
I suspect that wily `ole George is interested in knocking the price down so he can buy in at cheaper prices because I'm pretty sure George Soros knows what a real bubble looks like and it ain't gold.
2 months ago