Nostalgia

I started buying gold 3 years ago when it was still below $1000 an oz. Since then it has gone up to $1730 (today's price). I have most of my money in silver though. 3 years ago it was below $14, and now it is about $34.

Throughout the past 2 years, I have been trying to tell people about the history of monetary systems - not because I want to turn people into investors, but because I believe this is an essential knowledge that people need to have to protect their future generations' or their own savings and wealth. We are in a period of human history where there is massive inflation across the globe, and I expect such an episode to recur again in the future.

I have been trying to convince people that gold/silver is not a bubble. But the cries of a bubble is really big. One day, people are going to look back at $1000 (or $1730) gold and $14 (or $34) silver with nostalgia, and they will not believe that they could have been snapped up at these price levels.

In the interim, I expect prices to fluctuate up or down sharply as more and more short-term speculators come into the gold and silver market. Speculators don't create a trend; they jump onto a trend. This gold and silver bull trend has been going on for about 12 years now, and they will end one day at very high prices. That might be the time to sell then, unless maybe the world got back into some form of gold or silver standard. Till then, it'll be a veryyy patient wait.