http://hotair.com/archives/2011/05/05/is-there-really-a-gold-bubble-maybe-not/Gold is in a bubble. Anyone will tell you that. They’ve been saying it since gold was about, oh, $500 an ounce.
But it’s a funny kind of a bubble. It’s the only one I’ve encountered where so few people seem to own the asset in question… During the dot-com bubble, you met lots of people with tech stocks. Taxi drivers told you what dot-coms they owned.
During the housing bubble you met normal, ordinary people who were trading up to expensive homes using adjustable-rate mortgages, buying new condos off plan to flip, and cashing out their fictional “equity” through a refinance mortgage.
But who actually owns gold? I keep hearing about the gold bubble, but every time I ask people if they own any themselves, they say, “no, no, of course not, it’s a bubble.”
When your liberal neighbor tell you he owns gold or silver - its time to cash some out .. into what? Yuan I guess.
