This thread is almost sort of personal. Gilby doesn’t take the tanking of gold so hard because he is hunkered in his back yard behind a pile of sand bags filled with nickels.
I made the prediction that gold was a bad bet on the forum about 08. Gilby disagreed , and then I had to shut up as the price of gold rose from 800 to 1800$. This does not come naturally to me. Not the being wrong part, the shutting up part. It’s hard to speak while you are eating a hat.
Now, I think the housing starts and sales being up massively has lead to investors wanting cash. The huge inflationary devaluation of the USD$ that drove up the price of gold didn’t happen. Now the dollar is king.
Yeah, maybe I should have said nostalgic, not personal
I am sure Gilby remembers debating gold values with me 7 or 8 years ago. He’s young enough to remember, unlike you Harper. You were there to. Don’t worry though, if a debate starts I promise I will type slowly, just for you!
It was not to insult Harper. It’s just that he makes it so easy and I am weak and easily distracted.
I have had fun over the last decade throwing random economic questions at the forum. It’s an odd field, and most of my local friends have no interest. I was curious how some of you would explain the drop in gold value.
Another question is about the future. Do you agree solar power will be king? I am already off the grid myself, but I live in the deep sunny south Florida.
Many think Tesla’s lithium batteries are the wave of the future for home solar. I doubt it. Great for lap tops and vehicles where weight matters, my home solar system has lead acid batteries invented 100 ish years ago. I don’t care how much they weigh, they work and are cheap. Hell, if they worked better and lasted longer and was cheaper, I wouldn’t care if they weighed 10 times as much.
So my prediction is that home solar will continue to replace grid power, for very sound economic reasons. The batteries will likely be lead acid.
I predicted gold would tank in 08 and as it doubled in value over the next years I shut up. It is so much easier to explain things you can guess you understand.
I think Gilby is surprised at the tanking of gold and the strength of fiat $. He’s not explaining it because he can’t.
