"Someone with “perfect foresight” should have foreseen that
the process was not sustainable and that an implosion was inevitable.
—Charles Kindleberger
Gold is in a bubble that is set to burst.
I sit and write
this without a clue as to whether we've reached the top in gold or whether
we're getting ready for a parabolic rise. All I know is that gold is in a
bubble, gold prices will come crashing down, and many people will lose a lot of
money. I write this book after a year of intense analysis of gold, commodities,
emerging markets, the dollar, and the stock market. After carefully,
meticulously, and thoroughly analyzing gold prices since the 1800s, inflation trends, fundamental stories,
chart patterns, investment behavior, news coverage, and a nearly endless amount
of information from
stock prices to
economics to psychology— I
boldly and justifiably claim
that gold is
in a bubble
that is ultimately
due to collapse and severely hurt
the average investor.”
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