Thursday, August 04, 2011

Down Dow Down... Up Gold Up...


The Dow closed down over 500 points today. The worse single-day drop since Oct 22, 2008 (remember THAT time?...can YOU say TARP, QE1-2-3, Corporate Bailouts, Freddie & Fannie Faux Pas, Too-Big-To-Fail-BS, and the beginning of all this mess?). Since Monday morning, the Dow's dropped almost 900 points. All the markets (S&P, NASDAQ, etc.) were hit even harder.

Gold's at $1650/ounce, though! The average price of gold in 2008 was........ $872. The average price in 2005 (before the housing crash began?)..... $445. Gold was stable for many, many years, until 1933. Then it up-ticked a bit. Stayed stable again until the early 1970s when it went from $36 in 1970 to $124 in 1976 to $615 in 1980. Nixon/Ford, then came Carter, and look out!

Gold stabilized and fluctuated in the $317-460 range thru the late 90s. Dipped into the high $200s for a few years. In 2001 it was at $271, then it went back to it's 2+ decade range until... 2006. It went from $445 in 2005 to $603 in 2006. Then to $695 in 2007, $872 in 2008, then $972 in 2009, then $1224 in 2010. And now it's at $1650. Welcome back, Carter!!


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