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  • Silver Update: One More Pullback [View article]
    Thanks for the post Avi.
    Your short-term analysis certainly is thought provoking. And, contrary to what some offer, I can see where it is complentary to fundamental analysis as well.
    Personally, I'd appreciate a short-term pullback. It'll offer another opportunity to get in, whether ETF, physical or miners.
    Feb 27, 2012. 12:35 PM | Likes Like |Link to Comment
  • A Return To The Gold Standard Could Destroy The Modern Economy [View article]
    While I appreciate you sharing your views, Gene, it's clear you've come from a Keynesian background. However, even most old school Keynesians recognize that a gold standard is foundational to a free people. Consider Alan Greenspan, for instance.
    "An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense - perhaps more clearly and subtly than many consistent defenders of laissez-faire - that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.
    In order to understand the source of their antagonism, it is necessary first to understand the specific role of gold in a free society.
    Money is the common denominator of all economic transactions. It is that commodity which serves as a medium of exchange, is universally acceptable to all participants in an exchange economy as payment for their goods or services, and can, therefore, be used as a standard of market value and as a store of value, i.e., as a means of saving.
    The existence of such a commodity is a precondition of a division of labor economy. If men did not have some commodity of objective value which was generally acceptable as money, they would have to resort to primitive barter or be forced to live on self-sufficient farms and forgo the inestimable advantages of specialization. If men had no means to store value, i.e., to save, neither long-range planning nor exchange would be possible."

    To switch to a gold standard today would cause massive disruptions and turmoil in people's lives for many years. However, continued manipulation via central bankers is a form of slavery whose shackles become tighter with each successive generation. Better to pay now than later.
    Feb 27, 2012. 12:22 PM | 3 Likes Like |Link to Comment
  • Did China's Central Bank Buy 139 Tonnes Of Gold In The Fourth Quarter? [View article]
    Thanks for your insights Tim. Well done.
    I'm curious about this statement though.
    "But, given the remaining uncertainty about the Greek bailout and what a disorderly default would do to investors' recently increased appetite for risk, higher gold and silver prices over the near-term are anything but a sure thing."
    It appears that Greece has two basic options - continued bailouts or default (which could be done a few different ways). Aren't both of these actually bullish for gold? Why would you think not?
    Feb 27, 2012. 12:22 PM | Likes Like |Link to Comment
  • Why I Forecast A $2,600 Gold Price In 2012 [View article]
    Unless I missed something, Robin Griffith's forecast wasn't confined to any time period. Long-term, because inflation is the name of the game, I don't see how $5k gold can be avoided.
    However, for 2012, because of the political pressures involved during an election year in the US, and several European countries, I would expect gold's price to be held down a bit, maybe breaking the $2000 psychological resistance barrier, but perhaps not. I would expect 2013 or 2014 to see a major breakout for gold as upward pressures on AU conspire with downward pressures on the U$D, in an effort to equilibriate.
    Thanks for the article AD
    Feb 27, 2012. 12:22 PM | 3 Likes Like |Link to Comment