7243 replies to this topic
Posted 2009-11-12 14:57:25
 sokal, on 2009-11-12 13:12:14, said:
badge, on 2009-11-12 13:24:41, said: Col. Namm, there is no point trying to tame the wild fever of Gold bugs now that its the 'final' bubble of our time, having only just broken to a new high, whilst other assets' bubbles have broken and collapsed already, within the last 10yrs.
Gold is devoid of practical use. Its role in financial markets is levered up against physical to such an extent it could only possibly end up one way.
As with owners of Tulips in the 17thC, stockholders of the South Sea company in the 18thC, Railways in the 19thC and Japanese, Real Estate or Dot-Com in the 20thC, theres no reasoning with the holders of any mania, infact to do so is an admission of plain faced ignorance, apparently.
Yet every bubble pops, and it should be fitting that as testimony to the largest financial collapse, amidst the largest economic crisis, the world has ever seen, the 'old worlds' favourite 'store of wealth' should be the final bubble to pop.
Its human nature, fallible and flawed 
You did not lose any purchasing power of your money by not participating in all the bubbles you mentioned above.
Bernanke is creating a bubble in fiat money, that is the bubble and when that fiat bubble bursts you get hyperinflation. You are in the bubble without even knowing it.
Poor sheeple, just when they thought they had this bubble thing figured out 
Theres a certain irony in your response
However, you've tried that arguement before Sokal.
Unfortunately, there isnt any inflation, let alone hyperinflation.
Sadly we'll have to wait a while to conclude this.
Regards,
John Law
Posted 2009-11-12 15:33:11
Bear Bob Janjua of RBS ... ever hear the expression "cherry picking"... one could cherry-pick the contrary as in Dow Retakes 10000 on Bullish Data, Cisco (5NOV2009)
Posted 2009-11-12 16:31:02
jazzbo, on 2009-11-12 15:33:11, said: Bear Bob Janjua of RBS ... ever hear the expression "cherry picking"... one could cherry-pick the contrary as in Dow Retakes 10000 on Bullish Data, Cisco (5NOV2009)
it has been a long time since i pricked a cherry 
Posted 2009-11-12 16:49:21
flying, on 2009-11-12 12:47:22, said: Naam, on 2009-11-11 19:26:32, said: not closed is the case that the target for me buying gold is getting closer and closer inspite of a "stable" USD
How many of those stable USD do you hold? I think your target is calling 
11/12/2009 1120.50
standard practice is when my wife and me are travelling each of us carries 2,000 dollars and 2,000 euros in cash. i also still maintain a bank account in the Greatest Nation on Earth™ with a balance of approximately 2 or perhaps 3k. these are all the dollars i hold presently. only a couple years ago USD share was >65% of my portfolio but i was getting tired doing continously forward trades selling $ vs. € as a hedge even though it paid handsomely.
i am very much tempted to have USD denominated assets again because there is no other currency which provides that huge range of investment possibilities. but you are right, my gold buying target is indeed not too far away and i will bite the bullet if and when the time has come.
Posted 2009-11-12 18:09:07
flying, on 2009-11-12 14:45:37, said: Those are some nice coins & Pamp LOS
You have me confused with another I think
I have no knack for economics & am just a street person like you.
We must have entered at the same time into the Gold market as I am up 30% also
Surprisingly I am up 45% on the Silver side of things
Although, have you noticed Flying, that silver seems to have stopped its continual outperformance of gold over the last six weeks also?
Posted 2009-11-12 18:11:11
This should help things along. Barrick has said it will close it's 3 million oz short over the next 12 months. Hmmm.
http://www.telegraph...y-runs-out.html
Regards.
Posted 2009-11-12 18:24:16
"Gold Price Won’t Drop Below $1,000 an Ounce Again, Faber Says"
http://www.bloomberg...id=az6qQ8ZuXg9M
Regards.
Posted 2009-11-12 18:52:37
teletiger, on 2009-11-12 18:24:16, said:
Echoes of T.Boone Pickens(a far more seasoned professional in their applicable fields) stating that Oil will never trade below $50 again, 6 months prior to its All Time High, and subsequent bust
Posted 2009-11-12 22:53:12
Abrak, on 2009-11-12 01:09:07, said: Although, have you noticed Flying, that silver seems to have stopped its continual outperformance of gold over the last six weeks also?
Yes Abrak I have.
Although it has its moments I would have expected it to
break 18 & continue on.
Posted 2009-11-13 02:03:12
Martin Armstrong's latest on Gold
http://www.scribd.co...D-5000-11-11-09
Some interesting thoughts on Debt, Inflation, Govt etc....
Money_is_NOT_GOLD.jpg 39.49K
5 downloads
ABOLISH_DEBT.jpg 38.08K
3 downloads
Edited by flying, 2009-11-13 02:06:32.
Posted 2009-11-13 09:27:50
jazzbo, on 2009-11-11 21:52:11, said: Kuhn LostInLOS -- Sometimes 'street economics' is pure wisdom.... a real street person would think Gary North is some hockey goalie and the Austrian School a place to learn pastries.
you mean thats not true ? 
Posted 2009-11-13 11:15:01
Pretty funny if true
Also a good reason to remember the old adage
You dont own it if you dont hold it
http://www.marketora...ticle14996.html
Posted 2009-11-13 11:54:24
You don't own it if you don't hold it
Posted 2009-11-13 11:57:06
badge, on 2009-11-12 15:57:25, said: sokal, on 2009-11-12 13:12:14, said: badge, on 2009-11-12 13:24:41, said: Col. Namm, there is no point trying to tame the wild fever of Gold bugs now that its the 'final' bubble of our time, having only just broken to a new high, whilst other assets' bubbles have broken and collapsed already, within the last 10yrs.
Gold is devoid of practical use. Its role in financial markets is levered up against physical to such an extent it could only possibly end up one way.
As with owners of Tulips in the 17thC, stockholders of the South Sea company in the 18thC, Railways in the 19thC and Japanese, Real Estate or Dot-Com in the 20thC, theres no reasoning with the holders of any mania, infact to do so is an admission of plain faced ignorance, apparently.
Yet every bubble pops, and it should be fitting that as testimony to the largest financial collapse, amidst the largest economic crisis, the world has ever seen, the 'old worlds' favourite 'store of wealth' should be the final bubble to pop.
Its human nature, fallible and flawed
You did not lose any purchasing power of your money by not participating in all the bubbles you mentioned above.
Bernanke is creating a bubble in fiat money, that is the bubble and when that fiat bubble bursts you get hyperinflation. You are in the bubble without even knowing it.
Poor sheeple, just when they thought they had this bubble thing figured out 
Theres a certain irony in your response
However, you've tried that arguement before Sokal.
Unfortunately, there isnt any inflation, let alone hyperinflation.
Sadly we'll have to wait a while to conclude this.
Regards,
John Law
$1120 gold and a 50% rise in the Australian dollar is inflation.
Posted 2009-11-13 11:59:14
badge, on 2009-11-12 19:52:37, said: teletiger, on 2009-11-12 18:24:16, said:
Echoes of T.Boone Pickens(a far more seasoned professional in their applicable fields) stating that Oil will never trade below $50 again, 6 months prior to its All Time High, and subsequent bust
We are talking currencies here, not commodities.
Posted 2009-11-13 12:21:21
sokal, on 2009-11-13 11:57:06, said: $1120 gold and a 50% rise in the Australian dollar is inflation.
No, they're treasury instrument price movements.
Your mistakenly jumping from one huge assumption(there'll be hyperinflation), to another(Gold and AUD up = inflation).
US inflation is negative.
Financial market oscillations unfortunately dont constitute economic fact.
As mentioned before, we will have to wait for US CPI to reach 2% before its worth considering any real inflation dreams.
Posted 2009-11-13 13:04:38
badge, on 2009-11-13 13:21:21, said: sokal, on 2009-11-13 11:57:06, said: $1120 gold and a 50% rise in the Australian dollar is inflation.
No, they're treasury instrument price movements.
Your mistakenly jumping from one huge assumption(there'll be hyperinflation), to another(Gold and AUD up = inflation).
US inflation is negative.
Financial market oscillations unfortunately dont constitute economic fact.
As mentioned before, we will have to wait for US CPI to reach 2% before its worth considering any real inflation dreams.
Money velocity is a myth.
The Icelandic króna had declined more than 35% against the euro from January to September 2008.[8] Inflation of consumer prices was running at 14%,[
Iceland's GDP is expected to shrink by as much as 10% as a result of the crisis, putting Iceland by some measures in an economic depression.[143] Inflation may climb as high as 75% by the end of the year.[1
Posted 2009-11-13 20:03:18
Sokal, your reasoning gets more and more innocuous.
Your previous(unnecessary) suggestion that Golds rise is proof of Inflation, in erroneous.
Lets measure Inflation the old fashioned way; prices for goods and services.
When your Hyperinflation shows up in the US or EU(places that matter), we can see who was closer.
Even without Inflation Gold can continue to rise.
It has had tenuous link with Inflation in the past, I dont see why that should end now.
Posted 2009-11-13 20:17:02
Another conspiracy story to get Goldbugs juices flowing
http://news.goldseek.../1258049769.php
Posted 2009-11-13 20:20:04
... your reasoning gets more and more innocuous
Actually, Kuhn S. is very innocuous... he is located in Canada.
Posted 2009-11-13 23:13:02
badge, on 2009-11-13 20:17:02, said:
Posted yesterday #1488
As to the whole inflation/deflation/hyperinflation
Bottom line for many is the price of gold rises when the people begin losing faith in their government's ability to manage their country's economy in a stable manner.
Edited by flying, 2009-11-13 23:15:13.
Posted 2009-11-14 05:00:48
Bottom line for many is the price of gold rises when the people begin losing faith in their government's ability to manage their country's economy in a stable manner. As in..
Why Gold Owners Are Targets of the Government by Gary North
If you own gold, you are in a war. You are under assault. You had better figure this out early. There is a full-scale war against you. The politicians and central bankers who are conducting this war against you are determined to see that you lose money on your investment.
The reason why you are under assault is because you have demonstrated by your purchase of gold or a gold-related investment that you do not trust the monetary policies of your nation's central bank. If you are an American, this means you do not trust the monetary policies of the Federal Reserve System. You have taken a step that confirms your lack of trust in the government and its central bank. If you think the government and the central bank will sit quietly, while millions of citizens buy gold as a way to hedge against government and central bank policies, you are terminally naive.
... and you guys have chosen to fight the Full-Scale War on the Plains of ThaiVisa.com -- kinda like George Bailey fighting the Battle of Bedford Falls in It's a Wonderful Life ...Paper drives... Rubber drives... and Air Raid Drills (keep those blinds drawn)
So the Battle of ThaiVisa, at the heart of the Front Line against the Faithless Insane KaoJai Mai-less Government, rages on. Croix de GaryN for all.
Posted 2009-11-14 10:07:59
... and it seems that some of these guys are fighting the Battle of Plains of ThaiVisa.com when they are not even in Thailand. Oh well, I guess you take on the terminally naive wherever you find them.
Posted 2009-11-14 10:15:52
2nd consecutive week of record price highs...
Posted 2009-11-15 12:25:53
Naam, on 2009-11-12 17:49:21, said: flying, on 2009-11-12 12:47:22, said: Naam, on 2009-11-11 19:26:32, said: not closed is the case that the target for me buying gold is getting closer and closer inspite of a "stable" USD
How many of those stable USD do you hold? I think your target is calling
11/12/2009 1120.50
standard practice is when my wife and me are travelling each of us carries 2,000 dollars and 2,000 euros in cash. i also still maintain a bank account in the Greatest Nation on Earth™ with a balance of approximately 2 or perhaps 3k. these are all the dollars i hold presently. only a couple years ago USD share was >65% of my portfolio but i was getting tired doing continously forward trades selling $ vs. € as a hedge even though it paid handsomely.
i am very much tempted to have USD denominated assets again because there is no other currency which provides that huge range of investment possibilities. but you are right, my gold buying target is indeed not too far away and i will bite the bullet if and when the time has come.
Those investment possibilities are slowly turning into investment impossibilities but that does not make those dollars go away.
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