goldis4ever's Comments

7 Myths About Gold Debunked: Bubble Warning; $600 Target?

Tue, 21 Jul 2009 09:57:19 -0400

While I can still buy a flat panel tv using dollars at my local dealer, I sincerely doubt they'll accept cow's ears in trade (not even if it's pickled!)

Groundbreaking WSJ Story on Gold

Fri, 10 Jul 2009 09:21:27 -0400

I first purchased gold in bulk when 353 dollars an ounce was the going rate. My only regret concerning buying gold was not buying more. For those who bought stocks and bonds: I don't know whether to mockingly laugh at you or pity you.

On Jul 10 02:19 AM Gold Barron wrote:

> I own physical gold and I think it is a pretty good hedge against
> inflation or in uncertain economic times.
>
> My only concern with owning physical gold is how I will sell it when
> the time comes that I need to or have to. I have never tried to sell
> physical gold, but something tells me that when the time comes for
> me to sell it that I will end up getting some small percentage less
> than the going spot price. 10% less maybe?
>
> I am fortunate enough to have bought my physical gold at around $450/oz
> a few years ago, but at the current spot price physical gold carries
> a pretty high premium to purchase and a high penalty to sell. I am
> going to roughly speculate that the spot price would have to go up
> 15% just to break even on a buy/sell transaction of whatever your
> purchase price of physical gold was just to break even.
>
> If the US dollar crashes, then thats a whole different matter, but
> what if the US dollar does not crash? There were alot of people in
> the 70's predicting the same thing about the dollar that they are
> saying now.
>
> I am just playing the devils advocate so you gold bugs please dont
> get your panties in a wad.
>
> And if anyone is that confident about the price of gold going higher,
> then I would be happy to sell my gold eagles right now for 15% over
> spot. :-)
>

Groundbreaking WSJ Story on Gold

Fri, 10 Jul 2009 09:15:47 -0400

Or, just buy the bakery with the gold!!

On Jul 09 04:30 PM yellowhoard wrote:

> I hear this idiotic argument all the time, "how are you going to
> buy a loaf of bread with a gold coin?"
>
> YOU DON'T.
>
> You take the coin to a dealer, get cash, then buy your stuff with
> the new worthless cash available at that particular point in time.

Revisiting Gold's Valuation

Thu, 09 Apr 2009 08:53:52 -0400

Try buying groceries with a piece of lead and let me know how that goes.

On Apr 08 07:55 PM RickenAxer wrote:

> I don't get gold as an investment. It's practically useless and has
> little intrinsic value. In contrast, iron, lead or aluminum offer
> the owner a substantial array of practical uses. So, why gold?

Why Gold at $1,200/Ounce Is Likely

Sun, 01 Mar 2009 09:12:13 -0500

Paraphrasing a line from Bernard Baruch: "if i ever get a recommendation from a shoeshine boy to buy gold, that's when I sell." Gold has much more to go, tho'.

Btw, gold and gold stocks had done very well during the Depression era. Look it up.

On Feb 28 02:16 PM MarvinMBA wrote:

> The biblical commentary has always been "Do not put your faith in
> Gold" but I am assuming that putting your money in gold is something
> else. This could be the top of the market as hard assets/commodities
> get marked down as we unwind into Depression Statistics. We are looking
> into another bubble as gold (investing???) is bought into by the
> public. When stuff like this gets published with rationale to jump
> in, its time to jump out of this bubble in my opinion....MarvinMBA

Gold: The Only Remaining Bubble?

Thu, 19 Feb 2009 09:53:34 -0500

gold would have to climb 600% to qualify as a "bubble". sorry to disappoint.

Gold: The Only Remaining Bubble?

Thu, 19 Feb 2009 09:53:29 -0500

gold would have to climb 600% to qualify as a "bubble". sorry to disappoint.

Want a Way Out of the Economic Stupidity? Buy Gold

Wed, 18 Feb 2009 18:44:00 -0500

gold would to rise at least 600% to make it a "bubble". We got some ways to go.

On Feb 18 03:23 PM Sakura wrote:

> gold is the biggest bubble of this financial crisis, and has been
> climbing beyond it's stable value for a few years now due to financial
> fears. but don't be fooled! The bubble is extreme right now because
> gold is not only seen as a safe haven from investments, but it is
> also a difficult to track haven from debtors. It is 5 times it's
> stable value, and the vast majority of it is used for jewelry. Still
> sound like a stable investment? This will burst as soon as things
> calm down... People should be selling their gold now!

Want a Way Out of the Economic Stupidity? Buy Gold

Wed, 18 Feb 2009 15:21:26 -0500

Gold is time-tested hard and pure. Paper shrivels and crumbles.

Bullish Long Term Outlook for Gold

Wed, 18 Feb 2009 15:16:57 -0500

The dollar's up, but gold's up too!

However, gold-haters has dropped to new lows.

What Gold Price Is Telling Us About World Markets

Wed, 18 Feb 2009 15:14:42 -0500

where are the gold-haters nowadays?

12 Reasons to Short Gold

Thu, 12 Feb 2009 09:38:59 -0500

>>>"..16 of 24 analysts surveyed by the London Bullion Market Association believe gold will reach a minimum of $1,032 per ounce this year...<<

Right now we're less than 90 dollars away from that target.

I believe you must know the number of analysts who predicted gold will plummet below 500 dollars by this time, eh?

12 Reasons to Short Gold

Thu, 12 Feb 2009 09:33:53 -0500

>>>"..., 16 of 24 analysts surveyed by the London Bullion Market Association believe gold will reach a minimum of $1,032 per ounce this year. As we all know, analysts’ track records are deplorable. Instead of just ignoring them, why not bet against them? The odds are definitely in our favor.....<<<

Analysts that I had followed over the last few years like Peter Schiff and others had always maintained gold will rise and they have been correct.

Of course, there's the majority of 'chicken little' analysts over the last few years who bleated that gold will sink into the sewers and the dow and housing will skyrocket 4ever. I usually bet against them and win nearly all the time. The track record speaks for itself.

The Hopefully Not So Great Next Depression

Sun, 01 Feb 2009 09:05:27 -0500

It was widely published that Bin Ladin has been dead a long time. More likely from natural causes. Do keep up.

On Jan 31 07:16 PM PrudentMan, CFA wrote:

> bin Laden liked the reducing military spending bit. Bill Clinton
> was kind enough to give George W. Bush an army, which ran Hussein
> out of Iraq and virtually destroyed the Soviet Union, in half. We
> are just starting to get over that blunder.
>
> Some believe we don't need a military. I have always wondered if
> they thought we don't need a police force or fire department. I imagine
> they talk about these things in their gated communities drinking
> white wine and eating brie.

Gold Breakdown

Fri, 16 Jan 2009 10:06:11 -0500

>>>The dollar is the current which frustrates
> the goldbugs.... <<<<

It's taking much more of that "store of value" to buy breakfast in the mornings. I'll need a bigger store soon.

Gold Breakdown

Fri, 16 Jan 2009 10:02:57 -0500

"""As debts are eliminated, dollars disappear. Trillions of dollars are gone while the govt creates little or none....""""

Duh, what debts had been paid down?

On Jan 15 12:52 PM SW Richmond wrote:

> On Jan 15 12:36 PM CLH wrote:

The End of Citigroup

Wed, 14 Jan 2009 10:16:42 -0500

Actually, the consumer division of Citigroup was a money generator for the bank. It's the corporate division, with credit derivatives as its starring instrument, that burning citibank. Just a few years, some mid-level managers had warned that the bank was too exposed in credit derivatives and strongly advised reducing its exposure quickly. But derivatives was making too much money for the bank and ignored the warnings. What's more, they let go those very same managers who sounded those warnings. I guess there must be a certain measure of satisfaction from those employees who had finally proven they were right.

On Jan 13 01:02 PM Teutonic Knight wrote:

> On top of every commenter had said so far, C fell prey to a fast
> changing banking landscape on three fronts that renders its business
> model outdated -- 1) Technological advances; 2) Regulatory paradigm;
> and 3) Customer needs.
>
> First, with the general depositor being increasingly equipped with
> PC, laptops, smart phones, and the accelerated availability of affordable
> high-speed internet, both wired and wireless, online and mobile banking
> explodes.
>
> Second, on top of the first, the public becomes more informed and
> sophisticated in investing through web. They go online for the best
> deals in CD, money market funds, savings accounts, etc., and brokerage
> as well.
>
> Third, adding fuel to the fire, recent banking regulations opened
> the doors for a myriad of companies to become banks, such as GMAC,
> American Express, and even AIG to name a few. Competitions for scarce
> deposits fiercely intensify.
>
> The reader could deduce for himself/herself that the need for a one-stop
> one-size fits all shop had practically vanished.

Gold Loses Its Shine

Mon, 12 Jan 2009 08:51:37 -0500

>>>why not skip this middle step and buy oil and corn as opposed to gold?<<<

Sure. there's plenty of room in my closet to store a few hundred bushels of corn and a hundred or so barrels of oil in my bedroom closet.

Why the Stimulus Plan Won't Work

Sun, 11 Jan 2009 08:50:30 -0500

FDR stimulus programs were rather successful in getting many folks to be gainfully employed. It was only in one period, 1937-38, that the economy suffered: after he had listened to conservatives' demands to reign down public spending and balance the budget.

Reagan " voodoo economics" left Bush I with a HUGE deficit and culminated in one of the worst stock market crashes is U.S. history.

Now, we have someone willing ( with the mandate of the people ) to try and straighten out this mess. The Republicans main fear is that Obama's stimulus deal will be rather successful and thus relegate the Republican party to the dustbin of history. This is likely, imo.

Gold: Wealthy Investors Want Bars, Not Paper

Sun, 11 Jan 2009 08:20:47 -0500

>>>>Gold: Wealthy Investors Want Bars,......<<<...

My question to those folks who wised-up and are buying the metal: what took you so long????

Five New Forces to Drive Gold Higher

Fri, 09 Jan 2009 11:25:39 -0500

>>>>China has stopped buying U.S. debt.<<<<

Did it look so obvious that the U.S. took them for suckers that they had to act now?

If Manufacturing Is So Bad, Why Did the Market Go Up?

Mon, 05 Jan 2009 08:10:19 -0500

"If Manufacturing Is So Bad, Why Did the Market Go Up?"

Stupid, gullible investors? Think Madoff.

Gold Poised to Move Higher

Mon, 29 Dec 2008 09:56:36 -0500

You could say the same thing with a Mona Lisa or Rembrandt. An apt comparison.

On Dec 28 10:09 AM otbricki wrote:

> Let us get this straight...

Enlightening the Gold Bugs

Wed, 24 Dec 2008 10:54:45 -0500

>>"This by no means is scientific or deeply analytical..."<<

Well, duh, that says it all!!!

Gold Topped All Currencies in 2008

Thu, 18 Dec 2008 08:44:36 -0500

"Gold Topped All Currencies in 2008"

Of course.

It was always the wall streeters who saw gold as something archaic. their wheeling dealing and math smarts in the finance world was supposed to be the last word in stable investments in whatever: currency, stocks, bonds, hedge funds, 401Ks, etc. In various interviews I saw, they always dissed gold. A rare exception, Jim Cramer of Mad Money, who once hated gold, however, has saw the light.

Now that so many of them and their phony financial instruments has been thoroughly discredited, gold is looking shinier than ever before.

Dollar on the Decline, Gold and Silver on the Rise

Wed, 17 Dec 2008 08:04:31 -0500

ah, so much for "deflation". Let the party commence!!!

Gold and Silver: Backwardation and Manipulation

Mon, 15 Dec 2008 13:50:02 -0500

"The federal government is not restricted to gold and silver. "

Where do you see that?

On Dec 15 10:01 AM BillCu wrote:

> Your partial quote of the U.S. Constitution left out the critical
> beginning of
> Article 1, Section 10:
>
> "No State shall enter into any Treaty, Alliance, or Confederation;
> grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit;
> make any Thing but gold and silver Coin a Tender in Payment of Debts;
> pass any Bill of Attainder, ex post facto Law, or Law impairing the
> Obligation of Contracts, or grant any Title of Nobility."
>
> The federal government is not restricted to gold and silver.
>
> BillCu
>

Dollar Down, Gold Up

Mon, 15 Dec 2008 08:24:37 -0500

housing and stock prices are deflating (and as well they should). But not everyone buys houses or stocks or don't even care about them. But they are concerned about every day things like groceries, clothing, restaurant meals, movie tickets, apartment rentals, etc. The prices of those are slowing INFLATING!!

We're not experiencing rampant inflation now because the central banks are sitting on a pile of cash and are reluctant to lend out. Very soon they will have to because it's their business to do so. And then watch out!!!

Negative Real Rates Will Drive Gold Prices Up

Mon, 08 Dec 2008 11:56:14 -0500

Folks here we are in a "deflationary" period. Where is it??? Prices for everything has done up, not down. My local restaurant had recently marked up prices for all their items. The local supermarket has raised prices for a majority of grocery and non-food items. Some products, for example, could've been bought for 4 items for 5 dollars. Now it's two for 5 dollars. While some prices for some grocery items hadn't changed, the packaging had shrunken down. So we are getting less for the same money. School tuition fees had been raised recently, amidst much grumbling. Happy hour drinks at the local bar are costing more now. There's serious talk of raising transit fares in my city.

The above are just a few examples of an INFLATIONARY change. True, stock market rates are tanking and housing prices are sinking to new levels, but not everyone buys stocks and not everyone buys houses. Those issues merely affects a minority of foolish investors. But everyone needs to eat, however. And many people attend higher learning facilties. No longer cheaply.

Those crying 'deflation' are not living in the same world most of our folks live in.

Unemployment Data Is Very Grim

Sun, 07 Dec 2008 12:37:13 -0500

hey, nothing like a Bush tax cut to increase unemployment, er, employment.