Gold To 5000.....

...Not Happening.

Gold is a lot like Crude and most commodities.
Like Telecom
Like Internet
Like Seminconductors
Like Biotech
Like Structured Finance

Its moving with fundamental flavor. But once it gets really going, the fundamentals stop and its all momentum based on unreasonable expectations. Its just money leaving one bubble to create another.

No good for no one in the end.

We don't need cave mongering from the likes of Peter Schiff.

I don't like the markets. They are totally managed by the government and manipulated by Wall Street. But the more skeptical opinions we have the higher it goes. We need less of this type of talk and more reasoning. This just creates more volatility and brings in more nitwits to bunch into a trade. Bubbles are created from this type of ranting.

Obviously the fundamentals in Gold are good. Excessive money printing, etc. But warning people that Gold is going to 5000 is senseless. The move to say 1500 will be all fundamental, but the move to say 2000 will be all technical, cave mongering, and momentum trading.

Crude rallied nicely to 75-80 on the backs of the globalization theme, but the move to 150 was all momentum trading. So will the move in Gold to 2000.

I see 2000 for Gold...not 5000. That is irresponsible and reckless ranting.