Clearly I underestimated the extreme bullishness in the stock market. While I'm wiping out the eggs on my face, I still stick to my words: I think a crash is coming soon. The markets just go from overbought to more overbought. It actually becomes more dangerous each passing day. Be careful if you really want to jump in now.
I heard probably a year ago that Utah had passed the state law that will allow citizens to use gold or silver to pay for their debt. In other words, in Utah, gold and silver are legal money. Now I just read that 13 US states are requesting to allow to issue currencies based on gold and silver. See the whole story here. While I don't know if this will ever become reality due to the legal system here, this has sent a very critical signal that I think everyone should pay attention to. Clearly even in the mind of the state governments, the US$ is not reliable and safe anymore. Gold and silver are the ultimate money to reserve the purchasing power. Sure it is very volatile for gold and silver and you need a lot of courage to stomach it, but if you simply treat it as money, there is no excuse to not hold some of them at least.
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