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    Chapman Forecasts $3000 Gold by the End of 2010

    Mac Slavo
    December 3rd, 2009
    Comments (6)
    Read by 102 people

    Bob Chapman with Jason Bermas  on The Alex Jones Show December 2, 2009.

    “Gold is not going up because of inflation. Gold is going up because sophisticated investors, professionals, people with money – they are saying to themselves we don’t believe what the central banks in the TARP 8 and 10 nations of the world are saying. We’ve lost confidence and trust in them. We want gold because we know they’re not telling us the truth.”

    Listen to the interview:

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    Author: Mac Slavo
    Views: Read by 102 people
    Date: December 3rd, 2009

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    1. I hate to be the bearer of bad news but today (Friday 4 Dec ) gold went into the tank at a loss of  over $ 61.00.  This is the kind of stuff that will scare away and keep away investors . Gold has become too Volatile .

    2. We have not yet begun to see what real gold volatility is in store… think $50, 100 or even $200+ swings in a single day.  Just know where it’s going long term, and make rational decisions about ownership.  That’s my 1/58060 of an ounce of gold ($.02 for the conversion-challenged).

    3. Patrick, it would have taken me all night and a 6 pack of Heineken to get that one… 🙂

      I totally agree with you on the swings. We ain’t seen nothing yet. I would love to wake up one day (Monday?) and have gold sitting at $950!

      The swings on the Dow should be quite interesting too. I wonder what the Dow would have done had the markets been open on Thanksgiving when the Dubai news first hit.

    4. Yes, today was interesting…not just gold, but the swing(s) in the stock market.  Something similar happened yesterday with about 30 minutes left in the trading day – well, with 30 minutes left in the trading day for regular people…

      I have no idea what this means.

      As for gold, as I’ve said before, long term – it’s “golden” (rimshot).  That being said, in my humble, humble opinion, I value gold stock more than physical gold. 

      Why?  As I’ve said here before, if we get to the point where we need actually, physical gold on hand to use for bartering, I’ll take my ammo.  How’s that for a SHTF take on things?

    5. Aye to that. If we so happen to be in a situation where the US Dollar is literally worthless (like gas is $500 a gallon, etc.) and people are trying to trade with gold/silver, then I, too, would prefer to have food, ammo, and gas.

      Gold and silver will be cool and all, but if the SHTF, then for a brief period of time, people will be more concerned with food and self defense and I would venture to guess that many would not be willing to trade food for gold/silver in the initial phase of a hyperinflationary meltdown.

      Don’t get me wrong. I am a gold bug through and through, but me personally — if I am staring a complete collapse dead in the face, I would not trade my food or ammo for anything. (Ok, i might trade a little food and price gouge you for it, but I am keeping most on hand in my personal possession).

      Once some level of ‘normal’ trade is re-established, that’s when I think gold/silver will come into play.

      Just to clarify — I am talking about total, all-out SHTF here, like the kind described in the first couple chapters of ‘Patriots‘.

      I’m glad you brought this particular topic up Rick. Good stuff.

    6. Rob says:

      I somehow agree with all of you. Yes gold isn’t acting how it ought, but does anything that someone can manipulate? Bob-bob-bob’s point is well said. This will scare off many. Stage II of the Gold surge has been lengthened. Stage I is when us Gold bugs are into it, Stage II is when commentators who are usually bearish start talking up gold and Stage III is when your Barber and the Cab Driver are advising you to buy gold, then you know everyone is into it and the price will reflect such popularity. This volatility was done on purpose, to keep Stage III from happening. I say delay really because reckoning day will come.

      On the beans and bullets comment, that too is correct. Before I bought any gold and silver I have my beans, bullets and band aids squared away. I was looking into gold back in 2001 when it was cheap, but delayed in order to get other areas taken care of first. As Mac said, if you have a loaf of bread, and I offer an ounce of gold, you may say no to me, because you have no idea where you get you next days bread. Gold doesn’t digest well. This delay has cost me Federal Reserve Notes, but I can live with it.

      The thing I try to remember is not to get emotional. When emotional we don’t make good decisions. Hang in there.


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