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13/03/19
15:55
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Originally posted by Crom Valen:
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The Federal Reserve cannot stop people borrowing money, buying gold , housing, or acting like sheep in any way. Sheep syndrome is quite common in the markets, the gold mania in 1980 and 2011 are classic examples. Pitiful attempts by you to try to tie gold to a horrendous Global Financial Crisis caused by the Ponzi goings-on in the US housing market, where the Ponzi scheme was kept going a little longer via lending to people who couldn't afford them. The sheety 'sub-prime' (= last stages of Ponzi) mortgages were bundled up for consumption on the derivatives market, where they blew up in a helluva big way. No signs at all that the Fed is desperately warning people against buying gold as it may spark another Global Financial Crisis. Such behaviour on their part would be idiotic in the extreme.
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The GFC was a lot of dopey people (as usual in manias) borrowing money without giving the matter adequate thought. It was a worldwide phenomenon as the sheep syndrome even reached the Arctic circle.VIDEO