Loading ...Wealth Effect
OK….Huddle Up Goldtent
What do you think here ?
I think the wealth effect is kicking into gear
The real Economy sucks but who cares.
The younger generations ( what do they call em ?)
The 20s and 30s year old guys who are making a killing in Crypto and Pot….they are going to get around to gold
soon….So tell your kids and grandkids about our god forsaken sector and that we have been watching in horror as
Cryptophreniacs and Potheads are making a killing while our shit just sits there.
Stock Markets in almost every sector and in every country in the world are also making new highs….sooo…investors are making a killing !
Now remember add this to the fact many of these kids are under or un employed…and they love to gamble…lotteries…football….
So when they see friends making a killing on these wild sectors they are more and more going to want to find a new game….
Lets face it its the Gamers….the new Generation of millionaires who need to come to gold to bail out us old geezer
goldbuggers who are past our best before date and still holding on to rocks …in the hope of avoiding the Wall Mart
greeter fate.
Share your personal stories…are the kids and grandkids in these markets and are they aware of your gold fettish ?
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I am not an economist…never took an economic class in any school I ever attended.
So I may be way off here BUT…When the value of stocks world wide are increasing rapidly is that money printing out of thin air >
Maybe the Fed and all those other CBs are stoking all this …it makes their jobs easier…
I dunno …its all too confusing for me but there does seem to be a bear market in Common Sense and a Bull market in
most everything else.
Another Thing I am wondering …Are the big Pension Funds investing in Pot ? Ha…The Teaches Pensions will depend
on the success of this new industry….and the 100 baggers that go with it
Still think the LT $XAU-Gold ratio chart will turn out to be bullish.
Million dollar question is if it does, what will stocks do?
Ultimately, for me long gold, silver and the miners is just a leveraged $USD short. Gold is the ultimate currency IMHO.
Completely agree Fully. Patience is a virtue and PM’s time will come again.
Most young folks I know (around the Toronto Canada area) don’t have a dime invested in anything. I’m sure some kids are making out like bandits on weed stocks and cryptos, but I don’t know any personally. Most have student debt and phone costs (and live a life largely subsidized by their parents). A good percentage of them don’t even own cars. One young guy I know has a house that he bought and rents out. Makes a good six-figure salary working on large construction projects, and plans to buy more houses. He told me he’s not going to bother with RRSPs, just buy and rent real estate.
I think the “financialization” of everything will be our undoing and eventually PMs will come back into focus as “safe tier 1 assets”. When everything can be financed without much thought given to risk or default… look out. Most commercials on the radio on my way into work have a financing component to them. You can even finance your mattress!! Who’s going to repossess a mattress if someone defaults? I saw a sign in the summer which said: “Be debt free today! Get a home equity loan!” We obviously don’t even know what debt is anymore—And when lessons are forgotten, they must be relearned.
agree SS. when Canadian tire flyers have toasters on monthly payments the end gotta be close. 2 young adult kids both have cell phones $100/ ea =25K in 10 years time. That would buy me and mrs 5 good trips to sunny mexico for a couple months each time. No doubt they live at home still, not too smarts