Now see where Norman Chad learned everything he knows. Like a fairy tale, everything works itself out because we're the best! This ignorant commentary deserves a gold star, maybe even a bow tie!
I can't imagine anything less functional than a GDP based currency. GDP is entirely a statistic created by central bank induced inflation. Currencies backed by gold (and/or silver), not the use of PMs in trade, are likely in our near future.
This article is entirely worthless to me and most readers at SA, however it is entirely true. The author analyzed some of the most successful and well positioned companies in the world, all of which figure to be great long term investments. The problem is that most of us don't have 7 figure net worths and are not concerned primarily with wealth preservation. Buying stocks today for income, whether it be short to medium term trading or dividend investing, is out of the question. Unlike Warren Buffett, I don't buy companies. I buy stocks.
Excellent piece Moses, you had me at "I love incorporating psychology to economics because this dual framework explains the world a whole lot better than pseudo-scientific economic models that are consistently wrong."
so hyperbolic means gaining 1% daily for months on end and bubbles occur at historically low, yet rapidly rising, ownership and purchasing power levels.... "heady stuff".... oh to be a shill
Crazy huh? Wouldn't you rather be spoon fed govt stats that you can regurgitate without thinking? For some inexplicable reason I'd rather hear what a bright free thinker has to say and draw my own conclusions.
By the way, the "h" in "hour" is silent so it's "an hour." I hope that explanation is brief enough for you to grasp.
PS. Thanks to whoever posted that on Youtube and to SA for the link.
Will a 'Silver Bullet' Finally Kill the Metal Manipulators? [View article]
Isn't there an element of: since ETFs are phony, investment banks' positions might make big money when they are exposed? Couldn't the spot price soar while ETFs tank for their lack of backing? I'm bullish on precious metals and, the more reading I do, the more I find excellent intellectual arguments for gold and silver currently consolidating before a major breakout (www.kitco.com/ind/Patt...). Keep telling them Jeff, if people fail to listen they can't come crying to you when their paper becomes more valuable as a cleaning supply than money.
Gold Doesn’t Care If It’s IN-flation or DE-flation [View article]
One thing the author touched on that I believe is generally WAY understated is the global investment demand for gold. As people accumulate wealth in China, India and other emerging economies that value gold more highly than the existing worldwide middle class, they will save in gold. Remember, there are places in the world where people trust their neighbors more than bankers.....
The problem with your analysis is the assumption that the USD will remain the world's reserve currency. This is not the 1970s. The rest of the world does not worship us. They want to eat us because we're old, fat and rich.
You acknowledge we haven't quite reached the mania phase but insist it will end within a couple of months. So will PMs peak as 1.2% of investor holdings? 1.5%? We're still under 1% now... Every single person I talk to (outside of the fellow PM bugs I meet online) insists gold is worthless and in a bubble. Even compared to the 1970s gold has done nothing. That decade it went from $35 to $1000/oz then settled around 350 in the 80s, still 10x 1970. Additionally, today's debt problems are astronomically worse than any financial catastrophe in history.
I appreciate your view as objective but insist you are not looking at much of the picture. Dollar strength has long been determined by demand from nations willing to give up their resources. Now those nations have internal demand for resources and no demand for imperial king dollar.
If markets really crash I expect PMs to sell off, but not nearly as hard as stocks. The dollar is due for a last bit of glory, but it will be brief.
PS. Gold and silver are money, cash is currency. Deflation=appreciation in gold and silver. Prices of goods and services have steadily gone down in PMs over recent years and the trend shows no signs of slowing. Dollar inflation simply means declining wages and profits in the USA.
Obama may be about to order Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) to forgive a portion of the mortgage debt of Americans who owe more than their homes are worth. The potential move is seen as a last-gasp effort to save the Obama agenda; the political calculation is that the number of grateful Americans would outnumber those offended that they would be paying for someone else’s mistakes. [View news story]
Dollar's Days of Dominance Are Over [View article]
"Keep in mind that due to the success of the U.S.'s relentless propaganda-machine, most other countries are just beginning to comprehend the dynamics of the U.S.'s unsupportable debts. As that awareness grows, the decline of the U.S. dollar is certain to accelerate rapidly."
I wish there was a realistic way to extrapolate on Jeff's conclusion. The US was viewed as an unquestionable beacon of prosperity for so long that much of the Third World (California, Michigan, Indiana, South America etc..) has yet to get the memo that we're broke.
Stocks Poised for Big Rally [View article]
Pricing Gold and Silver as Money [View article]
Why a Market Crash Doesn’t Matter [View article]
The problem is that most of us don't have 7 figure net worths and are not concerned primarily with wealth preservation. Buying stocks today for income, whether it be short to medium term trading or dividend investing, is out of the question.
Unlike Warren Buffett, I don't buy companies. I buy stocks.
A U.S. Government Bond Bubble [View article]
Silver Goes Hyperbolic [View article]
Debunking Faulty Precious Metals Analysis [View article]
Marc Faber on The Coming Economic Catastrophe at Mises' "Austrian Economics and the Financial Markets." Worth the hour. [View news story]
By the way, the "h" in "hour" is silent so it's "an hour." I hope that explanation is brief enough for you to grasp.
PS. Thanks to whoever posted that on Youtube and to SA for the link.
Nouriel Roubini: From Macroeconomic Visionary to Reflexive Crank [View article]
The Debt Conundrum, Part 2 [View article]
Will a 'Silver Bullet' Finally Kill the Metal Manipulators? [View article]
High Conviction: A 'Stunningly Cheap' Telecom Stock [View article]
All the best.
Gold Doesn’t Care If It’s IN-flation or DE-flation [View article]
Pricing Gold and Silver as Money [View article]
You acknowledge we haven't quite reached the mania phase but insist it will end within a couple of months. So will PMs peak as 1.2% of investor holdings? 1.5%? We're still under 1% now... Every single person I talk to (outside of the fellow PM bugs I meet online) insists gold is worthless and in a bubble. Even compared to the 1970s gold has done nothing. That decade it went from $35 to $1000/oz then settled around 350 in the 80s, still 10x 1970. Additionally, today's debt problems are astronomically worse than any financial catastrophe in history.
I appreciate your view as objective but insist you are not looking at much of the picture. Dollar strength has long been determined by demand from nations willing to give up their resources. Now those nations have internal demand for resources and no demand for imperial king dollar.
If markets really crash I expect PMs to sell off, but not nearly as hard as stocks. The dollar is due for a last bit of glory, but it will be brief.
PS. Gold and silver are money, cash is currency. Deflation=appreciation in gold and silver. Prices of goods and services have steadily gone down in PMs over recent years and the trend shows no signs of slowing. Dollar inflation simply means declining wages and profits in the USA.
Obama may be about to order Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) to forgive a portion of the mortgage debt of Americans who owe more than their homes are worth. The potential move is seen as a last-gasp effort to save the Obama agenda; the political calculation is that the number of grateful Americans would outnumber those offended that they would be paying for someone else’s mistakes. [View news story]
Dollar's Days of Dominance Are Over [View article]
I wish there was a realistic way to extrapolate on Jeff's conclusion. The US was viewed as an unquestionable beacon of prosperity for so long that much of the Third World (California, Michigan, Indiana, South America etc..) has yet to get the memo that we're broke.