Gold, Silver, and Expert Liars

Summer 2011 - I had cashed in all my silver and one once of palladium the month previous to finance this trip. From a prone position on my friends couch in Sai Kung, Hong Kong I watched the English version of CCTV. Gold was a hot topic; the price had been going up and as more people jumped on the bandwagon, the curve grew steeper. The pictures showed hordes of Chinese people exchanging money for gold. No secret Chinese love gold. The experts were all proclaiming gold as a fantastic investment opportunity. The price hovered in the $US1,800 range. The experts said the price will top $2,000 by years end and will likely reach $2,500 !! by mid 2012. Many people were investing. Had I sold to early?

The next day the headlines read “Gold Price Crashes” – “ Biggest Decline in History” The experts were not around to explain what happened. They had cashed out. After a coordinated effort to drive the price up, they sold, reaping huge profits. I had witnessed a similar scenario in the US real estate market a few years earlier.. The experts encouraged everybody to jump into the can’t lose, invest your retirement stake, real estate market. The encouragements were ramped up. Then the market crashes… The biggest transfer of wealth in American history has happened. Transferred from normal people to the wealthiest people in the world. The "Experts" are high level Con Men who are in on the game....