Originally Posted by
Skol
I suppose anything's possible. Even the educated, alleged intelligensia get blinded by their own BS in a speculative mania, although it's hard to believe sane people woiuld buy in at these levels.
At the moment the gold and silver snake-oil salesman are touting precious metals as a risk-free trade, something we all know doesn't exist.
In a few weeks time, at this rate silver will make nice paperweights. There's still probably money in it, anything's possible.
JB thinks it's going to $400/500 oz.
In 1929, a Yale economics professor, Irving Fisher secured himself a spot in crash history with the following statements;
He concurred that there might be a drop in stock prices but "not anything in the nature of a crash".
On October 15th 1929 Fisher said "stock prices have reached what looks like a permanently high plateau".
The 'new paradigm'.