I cracked up laughing when I heard this. There is not enough gold to go around and we have hit peak gold. You mean there is not enough gold to go around to bunker and do nothing with? This was on CNBC and the commentator himself said, “all of the gold that has ever been mined is still around, and most of it is bunkered.” Peak oil while I am thinking economically will not happen, peak gold is a contradiction in words. Heck we could have peak peak diamonds (oops that market is controlled…).

So folks, PLEASE go ahead and buy more gold. After all most investors do just that, buy high, sell low. When Nouriel Roubini says this is utter non-sense you gotta be nervous. After all this is Mr Perma Bear the world is collapsing himself speaking.

That’s what Nouriel Roubini said a few days ago at the Inside Commodities Conference in New York.

The comments from the economist credited with foreseeing the banking crisis were aimed squarely at investing legend Jim Rogers. According to reports, Roubini specifically referred to Rogers’ call for $2000 gold as “utter nonsense.”

Since then, gold has continued to set new highs and is attracting a lot more attention from some of the best investors in the world.

You have to remember that you can’t eat gold, and you are relying on a bigger fool than yourself to buy it, for you to make a profit.

I know many of you are going to think, “you’ll see when all of this money printing mess and inflation hits the fan.” Really? With inflation, earnings go up, with earnings go up, stock prices go up. People get employed, and the circle keeps going around. It is out of control inflation that causes problems and last I looked there is no out of control inflation. People think there is because after all money is being printed left, right and center. Fair enough, that may be true. But due to the fact that the money is being bunkered instead of spent there is no velocity to the money and hence no inflation. Once the bunkered money is being spent, and the velocity of money increases will there be inflation.

But hey we shall see, no? Right now I say we are in a gold bubble and gold could and will head higher. But remember this bubble was created by the market and when everyone exits it will collapse VERY quickly. As I said to a friend on mine. Take profit…  Profit is always good…