|
History Repeats
There is no telling if these are minor corrections, the beginning of a great rush or the end. But they are called economic cycles. Just look up Wikipedia for the Silver Panic of 1893. It also happened in 1873. Thing is now, everything is magnified by the Internet.
Joseph Kennedy, (JFK's dad), sold all his stocks before the '29 crash. his quote was "when the shoe shine boys give stock tips, it's time to sell."
Zoom to 1980, the Hunt brothers want to corner the silver market. Silver went to (don't quote me), about $40 per ounce. When metal prices get too high, everybody sells grandma's silverware they inherited, and unprofitable mines, suddenly open and work overtime. There's more metal than fools.
Quit looking at porn long enough to read one book on economics. Gold & silver may be over or have a long way to go. Same as Bitcoins. But you are playing a game of Musical Chairs. Sooner or later the music will stop.
Didn't say there was opportunity, just be aware of the risks.
|