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How do you see investor psychology pushing gold upward in the Aftershock?

Robert Wiedemer

Aftershock Book

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Video Transcript

Well, gold is one of those unusual investments in that two of the most important forces that push investments up are working together to push it up, greed and fear. Think about it, a stock goes up because of greed; we assume it will go up. It's not going up because of fear is it? Gold is a bit different, it's unusual, both greed, as gold starts to roll up, people want to get on the bandwagon and see it go up, but also fear of the rest of the economy and other investments going down. So it is in a unique position to really benefit from both greed and fear. It's because of that it could ultimately really start to take off as the aftershock starts to hit.

So specifically, that fear factor is going to be one of the keys to push it up. It's why I really don't know exactly how high it could go. I think it's going to go up very high. As I said far higher than I'm probably willing to put into print, but it's the fear factor, could get pretty strong. On the other hand, it also will feed the greed, won't it? In other words, as the fear factor pushes gold up, greed is going to pile on top of it and say, "I want to be on this bandwagon." So, there's a lot of intangibles and it's hard to measure all these in true terms, but what we do know is you've got two really powerful forces working together to push gold way up there.

Related quote from his book:

" will perform spectacularly in the Aftershock…at its height, gold prices could become truly stratospheric -- so high, in fact, we won't even mention our best guess for fear of losing credibility." (AFTERSHOCK, page 144)