I'm worried that gold is being promoted by all sorts of entities because they want it to keep going up, so they can bail out when it's around the peak they create, and then leave everyone else holding on to gold that's down below what they got in at. If the economy truly tanked and gold became worth 10s of thousands an ounce, who would buy it for that high price?
The stock market is what is being promoted right now because they want to keep it going up so they can bail out and screw the little guy.
If the economy truly tanked and gold became worth 10s of thousands an ounce, who would buy it for that high price?
If the price of gold was $20,000, that means there is someone buying it for that price. Otherwise the price would go down until there were willing buyers.
Remember, the price of something shows you what people ARE willing to pay. Otherwise the price would change.
Yes, I was trying to say that gold could reach some ridiculous price, but at some point, people would no longer buy, unless the price came down significantly, and then people would see the price going down, so they would sell (assuming they bought when it was low), further driving the price down, and so on.
I still don't understand why it would become worth that much.
I don't have a mind for numbers and finance and the economy.
I'm not arguing that it won't be worth that much, just that I don't understand why.
So if anyone would like to explain it (preferably making it simple enough for a relatively intelligent 'tween to understand), I would be very grateful.
I'm worried that gold is being promoted by all sorts of entities because they want it to keep going up, so they can bail out when it's around the peak they create, and then leave everyone else holding on to gold that's down below what they got in at. If the economy truly tanked and gold became worth 10s of thousands an ounce, who would buy it for that high price?
Gold is historically cheap right now.
The stock market is what is being promoted right now because they want to keep it going up so they can bail out and screw the little guy.
If the price of gold was $20,000, that means there is someone buying it for that price. Otherwise the price would go down until there were willing buyers.
Remember, the price of something shows you what people ARE willing to pay. Otherwise the price would change.
Yes, I was trying to say that gold could reach some ridiculous price, but at some point, people would no longer buy, unless the price came down significantly, and then people would see the price going down, so they would sell (assuming they bought when it was low), further driving the price down, and so on.
I still don't understand why it would become worth that much.
I don't have a mind for numbers and finance and the economy.
I'm not arguing that it won't be worth that much, just that I don't understand why.
So if anyone would like to explain it (preferably making it simple enough for a relatively intelligent 'tween to understand), I would be very grateful.