Tuesday, October 19, 2010
Why gold is a HUGE bubble!
Gold mine production is now at the highest level since 2000, when gold prices were at $250 per ounce!!
And gold demand from jewelry—the largest source of physical demand for gold—is collapsing!
Meanwhile, investors keep stockpiling gold at a feverish pace. Gold inventories on the Comex are up ten fold from 2001!!
So, add it all up…
Mine production already exceeds total gold jewelry demand by 50%!
And investors are piling up gold inventories…
When it comes time to sell, who will they sell to???
Nobody will be there to buy all that gold.
This is a major disaster waiting to happen. A MASSIVE bubble!