That's the answer for the question....What are the participants called in the World's most crowded trade? BAGHOLDERS...Remember when I used to warn how crowded the miner trade was four years ago? I knew it was at risk, but didn't appreciate just how much damage they could do to a crowded trade with their ability to CONtrol the paper market. As some here correctly pointed out, bullion was the safest play for the crowded precious metal. So what is the world's most crowded trade now? Its PAPER!! Its unbacked PAPER fiat. If you wish to be even more precise its the top counterfeit fiat pig.....ITS THE FIAT DOLLAR!! Oh sure.....the dollar is the prettiest girl at the dance blah blah blah. Oh sure Harry Dent assures you that gold is going to 600 and it is the WORST asset to own in DEFLATION. Surely you have the IQ to go back and check yourself what THE BEST PERFORMING ASSET was in the greatest deflation in our modern history was......you remember the GREAT DEPRESSION???? It was gold and gold miners......So does that make Harry Dent a liar or incompetent? You choose.
Harry isn't alone. Rickards and others tell you to own gold but they waffle with when you should buy and where the price is going etc. Which creates a "deer in the headlight" move by retail investors. FOR ONE THING ITS NOT AN INVESTMENT. It is simply wealth preservation against a ponzi fiat currency scheme. If there is one thing you need to be aware of YOU DON'T BUY INSURANCE when the hurricane hits Its not for sale then. Its too late....sorry. I think the biggest fraud out there right now is the dollar and I think they are getting ready to rip it apart and I DON'T think you will get out of your dollars when they do. Hardly ANYONE is saying this could happen overnight and I think that is just what will happen. You'll get ring-fenced and told to piss-off......sorry charlie.
gl and enjoy the game.