Gold going to parabolic top of $10,000

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investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Gold going to parabolic top of $10,000

No wishful thinking here! As I see it gold is going to a parabolic top of $10,000 by 2012 for very good reasons - sovereign debt defaults, bankruptcies of “too big to fail” banks and other financial entities, currency inflation and devaluations - which will all contribute to rampant price inflation.

Not surprisingly, I have company in that view:
 
Money manager, Peter Schiff, told Business Week recently that, "Gold could reach $5,000 to $10,000 per ounce in the next 5 to 10 years” and highly respected economist David Rosenberg is of the opinion that "There is no doubt that gold can easily double from here."

http://www.financialsense.com/fsu/editorials/wilson/2010/0614.html

earthwise's picture
earthwise
Status: Platinum Member (Offline)
Joined: Aug 10 2009
Posts: 848
Re: Gold going to parabolic top of $10,000

 

It's not unreasonable to envision gold going parabolic as described in the context of an economic crisis like a hyperinflationary spiral. But one theory holds that it wont' be helpful to those who hold PM's, that the stored wealth will be in effect 'confiscated' through high taxation and the establishment of a One World Currency by TPTB. With no way out, gold will become worthless. Any thoughts or comments.

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