Looming Financial Crisis? UPDATE (12.14.2015)- Where's your Gold now?

I just saw something that reminded me of how really ridiculous it is that people are still making predictions on Gold and Gas Prices.

It was a conversation I was having with someone on my Facebook feed in 2010.

We talked about the gas price and gold...

"just wait....i promise Gas will continue to rise as the US dollar falls in value. just last week or so gas jumped 15 cents/gal"

"it's an unfortunate reality. invest in Gold my friend"

OK, let's take a look at the time-line since then, shall we?

THEN:

Gold:

Gold tops $1,900, looking 'a bit bubbly'
By Hibah Yousuf August 23, 2011: 7:44 AM ET
http://money.cnn.com/2011/08/22/markets/gold_prices/

Gold edges up to a new record
By Aaron Smith, staff writerSeptember 20, 2010: 2:31 PM ET
http://money.cnn.com/2010/09/20/markets/gold_record/

Gas:

Gas prices: Bracing for more pain at the pump
By Laurie Segall, staff reporter January 1, 2011: 9:09 AM ET

The price for a gallon of gas has risen 3% over the past 12 days and last week, prices crossed the $3 mark for the first time since October 2008. At $3.073 a gallon, gas prices are still 25% below their peak of $4.114 set in July 2008.

more here:
http://money.cnn.com/2010/12/30/markets/oil_commodities_gas/

NOW:

Gas and Natural Gas:

Natural gas prices fall to 14yr low on cheap crude, mild weather
Published time: 14 Dec, 2015 13:46
Edited time: 14 Dec, 2015 13:47
https://www.rt.com/business/325875-gas-price/

Average U.S. gas price soon under $2, lowest since recession
By David Koenig • AP Business Writer

DALLAS • Gasoline is close to breaking below a key psychological barrier across the United States as drivers enjoy some of the cheapest pump prices since the recession.

The nationwide average price of a gallon of regular Sunday was $2.01, down 56 cents from this time last year, according to auto club AAA.

In the St. Louis metro area, it's already dropped below $2 a gallon — averaging $1.925 per gallon on the Missouri side of the Mississippi River.

more:
http://www.stltoday.com/business/local/average-u-s-gas-price-soon-under-lowest-since-recession/article_8635dd13-82f3-508a-89f6-7f32f4886557.html

Gold:

Gold futures fall to a more than one-week low
Published: Dec 14, 2015 10:32 a.m. ET

Gold prices came under pressure on Monday, as oil plunged anew and investors braced for Wednesday’s U.S. interest-rate decision by Federal Reserve policy makers.

Gold for February delivery GCF6, -0.53%  fell $7.20, or 0.7%, to $1,068.50 an ounce, after losing 0.8% last week. A settlement around this level would be the lowest in more than a week.

“Dealers and speculators are trying to second guess what the market’s reaction to the expected Fed rate hike on Wednesday will be and are reading the price, in line with the technical picture, as downwards,” said Julian Phillips, founder of and contributor to GoldForecaster.com.


“But such plays are high risk ones, for if the Fed does not affect the dollar exchange rate they will have to unwind their positions in the face of a market going the other way,” he said.

The Federal Open Market Committee is expected to raise interest rates when it meets on Tuesday and Wednesday, and a hike could weaken the appeal of the precious metal. A rate hike is widely viewed as lowering opportunity costs of owning metals that don’t offer a yield.

The probability of a Fed interest-rate hike next week is 79%, based on futures prices, according to CME Group’s FedWatch.

more here:
http://www.marketwatch.com/story/gold-prices-drop-as-market-tenses-up-ahead-of-fed-meeting-2015-12-14

Here's the thing, Fareed Zakaria warned about betting on Gold:

cnn - fareed zakaria: beware the modern-day gold rush - the cfr speaks
Uploaded on Oct 3, 2011
CNN's Fareed Zakaria looks at the rush for gold and whether or not it's worth the investment.
http://www.youtube.com/watch?v=wS2mDS1HHhY

Lesson here?

Stop making prediction, especially ones based on misinformation.
Start watching, praying and proving all things, hold fast to that which is good (not just what you believe is good information, what you have PROVEN)

-Spyda

P.S. Ron Paul was wrong:

Ron Paul on Gold: No One Knows Value; I'm Buying
Published on Apr 23, 2013
April 23 (Bloomberg) -- Ron Paul, Former Congressman from Texas, discusses his views on gold, central banks, and the weakened Republican Party. He speaks on Bloomberg Television's "Market Makers." (Source: Bloomberg)
https://www.youtube.com/watch?v=Iwav9ldKvbg