I can understand why you might think gold can bubble, but it never has in the past. Gold blew out to $2400 an oz (adjusted for inflation) in 1981, but it wasn't a bubble so much as a lack of confidence. Reagan got elected and gold dropped to $200 an oz.
You see anyone like a Reagan anywhere in the world? We have a lack of confidence in Europe... A lack of confidence in the US, and even China and India aren't meeting expectations...
Actually a cross over from the laura dekker thread - Shipping containers are a serious hazzard at sea. More than one sail boat has gone down after hitting a shipping container... Depending on what they are loaded with, they can float just at or just below the surface. You can't see them at night, and if they are low enough, you don't see them durring the day... deadly... hit them at full steam and you end up with a bloody great hole in your hull...
And on another departure... The discovery of the world sea currents, and how they are connected, was due to a container of rubber ducks being lost over the side during a storm. The rubber ducks got out, and were found all over the world over the next two years.
I agree with you Kizz, scientists don't get the recognition they deserve.
But you are missing the human desire to push the boundaries - the first, the youngest, to make or do...
Sailing around the world is an acheivement. It is hard. Doing it single handing is both very very hard, and dangerous. Sailing around the world single handed, when you are 14 years old - that is amazing. I'm an experienced sailor, who has sailed around the world, and much more, and I do appreciate what this lady is doing. I don't care how she got her boat, it is what she is doing that is amazing.
Not to worry Krista, the chance a major PHO hits in your life time, assuming you live to 80, is about 1 / 10,000. They do hit every 800,000 years or so... But a serious torino 10 event will happen in you life time is about 1/ 650,000... not much of a chance really...
But the chances are it will hit an ocean - The tsunami will be miles tall, moving at just sub-sonic speeds (near 1000 km/hr.) Having lived through a tsunami, I have nightmares about this...
But I put it aside and live for the day -Carpe diem, quam minimum credula postero
A few weeks ago, I switched all my super funds into cash (good move since If I hadn't they would have lost 12% - in a little over three weeks.)
I've not trusted the market since 2006, so all my savings are in term deposits, staggered in case I get in financial trouble. (yeah, some of us saw the GFC coming)
My debts are nil (Other than my car, which is deductible.)
The only thing I regret, is not putting all my savings into gold in 2006...
The Euro does float against other currencies, which is part of the problem (and boy does it give me headaches.)
The latest crisis meeting to save the Euro will be happening in a few hours. This will be the 26th crisis meeting to save the Euro, and all they have been able to do is postpone the collapse.
The markets were hoping the ECB would start issuing EuroBonds (essentially - print money from nothing) as Ben Bernanke did in the US. But the ECB doesn't have that kind of mandate - not to mention the inflation it would cause, as the value of the Euro dwindled to nothing. The chief fo the ECB pointed this out, and today the markets here collapsed...
but only down 2% for the week... Will hate to see what happens in the European markets - especially if this crisis meeting doesn't come up with something...
RE: WOOHOO, IT'S RAINING IN QLD.
Fun round today - We were just teeeing of on the 15th hole (the furthest from the club house) when they sounded the evacuation alarm.We walked back in and got to the club house just as the heavens opened, and it bucketed down. Twenty minutes later and the course was flooded...