People have no idea what a bubble is like.

I lived through the gold bubble of 1979-1980.

Gold was what people talked about at parties.

Gold was quoted everywhere.

Ordinary people knew about gold and silver prices.

People who had gold or silver to sell would wait weeks for an assay because the smelters were backed up unbelievably. BTW, if you wanted to sell a bar, you were out of luck because it took too long to get the assay done and nobody wanted to bother.

Rare coins, jewelry, all was melted down at the smelters, without discrimination. This was a mad panic to buy gold and silver.

This is NOTHING like a bubble. Sure there is more interest in gold because it has gone up.

Sentiment FOLLOWS price.

But so what?

There is no widespread public participation in gold. The total market cap of GLD is a fraction of the S&P500 market cap.

The "man in the street" is selling gold today because he needs the money.

Those buying gold are the smart money including central banks, wealthy people. And they have not BEGUN to buy gold.

Gold will go up hundreds of times what it is today when this is truly a bubble. And this time, the bubble will correspond with the complete collapse of the USD IMHO.

That's why I tell people I know to buy gold and silver. Today's prices are nothing compared to what we will see.