Hugh's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/119781/comments http://seekingalpha.com/article/84973-diamonds-aren-t-harry-winston-s-best-friend?source=feed#comment-205736 205736 Tue, 15 Jul 2008 06:37:15 -0400 http://seekingalpha.com/article/84754-is-gold-a-good-investment-during-the-credit-crunch?source=feed#comment-204481 204481
This is it boys. This is how Gold rolls. Read the above paragraph again and forget all of the charts. ]]> Sun, 13 Jul 2008 14:30:27 -0400
This is it boys. This is how Gold rolls. Read the above paragraph again and forget all of the charts. ]]> http://seekingalpha.com/article/84350-extreme-opportunity-in-gold?source=feed#comment-202746 202746
This could also mean: OIL MUST GO DOWN IN PRICE.

There is no natural law that says ratios must return to some norm. ]]> Fri, 11 Jul 2008 05:02:11 -0400
This could also mean: OIL MUST GO DOWN IN PRICE.

There is no natural law that says ratios must return to some norm. ]]> http://seekingalpha.com/article/81718-hyperinflation-here-we-come?source=feed#comment-187496 187496
You put $100 in your bank, your bank loans out $90 of your money, that $90 winds up in another bank, that bank loans $81, that money gets into another bank, and then $70 of that money is loaned, etc.

This is the modern cause of inflation. Because of this, some argue that we are in a deflation, in that banks are more reluctant to loan and the public reluctant to borrow. This winding down of credit extinguishes the fractional reserve's money creation abilities. There may be more paper money but less total money.]]> Wed, 18 Jun 2008 06:33:22 -0400
You put $100 in your bank, your bank loans out $90 of your money, that $90 winds up in another bank, that bank loans $81, that money gets into another bank, and then $70 of that money is loaned, etc.

This is the modern cause of inflation. Because of this, some argue that we are in a deflation, in that banks are more reluctant to loan and the public reluctant to borrow. This winding down of credit extinguishes the fractional reserve's money creation abilities. There may be more paper money but less total money.]]> http://seekingalpha.com/article/81233-fed-tightening-and-the-gold-market?source=feed#comment-185121 185121 Fri, 13 Jun 2008 13:48:10 -0400 http://seekingalpha.com/article/81036-homeowners-have-record-low-equity-in-homes-housing-tracker?source=feed#comment-183936 183936 Thu, 12 Jun 2008 06:33:02 -0400 http://seekingalpha.com/article/80749-bespoke-s-commodity-snapshot-6-10-08?source=feed#comment-183923 183923
Look at those charts and tell me what the N.Y. gold closing price will be on June 18th.

Thank you very much!]]> Thu, 12 Jun 2008 05:20:10 -0400
Look at those charts and tell me what the N.Y. gold closing price will be on June 18th.

Thank you very much!]]> http://seekingalpha.com/article/80749-bespoke-s-commodity-snapshot-6-10-08?source=feed#comment-183586 183586
Take a snapshot of the world today, and unless you live in the television show the Twilight Zone or Star Trek, the snap shot will be different from all other snapshots ever taken.

What makes an economy is human action. We have six billion people on earth, all of them taking action daily. What are the possibilities that all of these players will take the same actions again simultaneously?

Look at the green areas of the above charts. Why aren't these areas extended out into the future? If they can't be accurately extended into the future, the they mean nothing.

If charts worked, there would be no markets. This is profound, study it.]]> Wed, 11 Jun 2008 14:55:37 -0400
Take a snapshot of the world today, and unless you live in the television show the Twilight Zone or Star Trek, the snap shot will be different from all other snapshots ever taken.

What makes an economy is human action. We have six billion people on earth, all of them taking action daily. What are the possibilities that all of these players will take the same actions again simultaneously?

Look at the green areas of the above charts. Why aren't these areas extended out into the future? If they can't be accurately extended into the future, the they mean nothing.

If charts worked, there would be no markets. This is profound, study it.]]> http://seekingalpha.com/article/80749-bespoke-s-commodity-snapshot-6-10-08?source=feed#comment-183065 183065
If something is "overbought," Then is must be at the same time "oversold."

If a trillion ounces of gold were bought in one hour, one could look at the buyers and claim an "overbought" situation, where another observer could look at the sellers and claim an "oversold" situation. Overbought must therefore cancel oversold, making both terms suitable only for the braindead.

Charts are history. They tell us nothing about the future because the future of a complex economy is ruled by billions of variables on an hourly basis. That Iran may or may not be attacked by the United States next week, therefore sending gold to over $1000 per oz, might be hinged on the menstrual cycle of some general's wife. Where's the chart for that?

Its obvious to me that some people write only to chum for business.
]]> Wed, 11 Jun 2008 04:24:25 -0400
If something is "overbought," Then is must be at the same time "oversold."

If a trillion ounces of gold were bought in one hour, one could look at the buyers and claim an "overbought" situation, where another observer could look at the sellers and claim an "oversold" situation. Overbought must therefore cancel oversold, making both terms suitable only for the braindead.

Charts are history. They tell us nothing about the future because the future of a complex economy is ruled by billions of variables on an hourly basis. That Iran may or may not be attacked by the United States next week, therefore sending gold to over $1000 per oz, might be hinged on the menstrual cycle of some general's wife. Where's the chart for that?

Its obvious to me that some people write only to chum for business.
]]> http://seekingalpha.com/article/80521-headwinds-for-gold?source=feed#comment-181572 181572
The fact is that gold is a commodity money. The term, "commodity money" has been around for at least a century.

Gold is a commodity, and it is a money. Gold is used in electronics, medicine, jewelry. There is gold in your computer.

From Wikipedia, the free encyclopedia:

"Commodity money is money whose value comes from a commodity out of which it is made. Examples of commodities that have been used as mediums of exchange include gold, silver, copper, salt, peppercorns, large stones, decorated belts, shells, alcohol, cigarettes, cannabis, and candy."

Moreover, the word "currency" is incorrect in this case. Even in a fully convertible gold standard, paper receipts that are title for gold are the "currency," and the gold is the actual money.

If you want to be incorrect, you ought to do it correctly and say, "gold is money, not a commodity." In this way, you only have ONE thing wrong.]]> Sun, 08 Jun 2008 20:49:21 -0400
The fact is that gold is a commodity money. The term, "commodity money" has been around for at least a century.

Gold is a commodity, and it is a money. Gold is used in electronics, medicine, jewelry. There is gold in your computer.

From Wikipedia, the free encyclopedia:

"Commodity money is money whose value comes from a commodity out of which it is made. Examples of commodities that have been used as mediums of exchange include gold, silver, copper, salt, peppercorns, large stones, decorated belts, shells, alcohol, cigarettes, cannabis, and candy."

Moreover, the word "currency" is incorrect in this case. Even in a fully convertible gold standard, paper receipts that are title for gold are the "currency," and the gold is the actual money.

If you want to be incorrect, you ought to do it correctly and say, "gold is money, not a commodity." In this way, you only have ONE thing wrong.]]> http://seekingalpha.com/article/80165-gold-as-money-means-a-potentially-massive-rise-in-valuation?source=feed#comment-180978 180978
In this case, one would be hard pressed to find someone to trade with.]]> Sat, 07 Jun 2008 15:08:35 -0400
In this case, one would be hard pressed to find someone to trade with.]]> http://seekingalpha.com/article/79700-short-term-warning-for-gold-bugs?source=feed#comment-178111 178111
Gold is easily moved in either direction by factors outside the gold market itself.

A "contrarian bearish reading" is nothing more than a "mainstream bullish reading."

All of the charts ever created, and all of the talk ever uttered, will never replace the fundamental fact that paper money has no backing.]]> Mon, 02 Jun 2008 14:54:08 -0400
Gold is easily moved in either direction by factors outside the gold market itself.

A "contrarian bearish reading" is nothing more than a "mainstream bullish reading."

All of the charts ever created, and all of the talk ever uttered, will never replace the fundamental fact that paper money has no backing.]]> http://seekingalpha.com/article/79311-gold-is-money-and-nothing-else?source=feed#comment-176422 176422
Quote: "If tonight you curse gold, keep this in mind when it crosses$1034, and please leave never to return."

And, what kind of crap is this???]]> Thu, 29 May 2008 22:18:30 -0400
Quote: "If tonight you curse gold, keep this in mind when it crosses$1034, and please leave never to return."

And, what kind of crap is this???]]> http://seekingalpha.com/article/79311-gold-is-money-and-nothing-else?source=feed#comment-175806 175806
Not true. Gold is a commodity that has been used for money for thousands of years, just as salt has been used as money. If one said, "Salt is not a commodity but money," the kookieness would be the same.

Gold is a commodity money. One of many.

There is a term: "Money Crank." Some people can go overboard.]]> Thu, 29 May 2008 08:04:19 -0400
Not true. Gold is a commodity that has been used for money for thousands of years, just as salt has been used as money. If one said, "Salt is not a commodity but money," the kookieness would be the same.

Gold is a commodity money. One of many.

There is a term: "Money Crank." Some people can go overboard.]]> http://seekingalpha.com/article/78948-52-to-1-just-right-for-gold-silver-ratio?source=feed#comment-174678 174678
All the ratio gives us is the chance to resort to the concept of, "blah, blah, blah..."

]]> Tue, 27 May 2008 15:42:49 -0400
All the ratio gives us is the chance to resort to the concept of, "blah, blah, blah..."

]]> http://seekingalpha.com/article/78214-james-turk-on-gold-the-ultimate-inflation-and-catastrophe-hedge?source=feed#comment-171516 171516
"... it is money that doesn’t have counter-party risk. In other words, you’re not reliant upon someone else’s promises for the value of that wealth..."

The problem I see here is that one is in fact reliant on the promise that his company, "Gold Money" does in fact have the gold in a vault somewhere, that the gold is pure and not debased with another metal, that the banks who own the vaults are honest, that the government will keep their word and not seize the gold on a political whim, that those doing the counting are telling the truth...

There is risk, there are promises.]]> Thu, 22 May 2008 01:06:47 -0400
"... it is money that doesn’t have counter-party risk. In other words, you’re not reliant upon someone else’s promises for the value of that wealth..."

The problem I see here is that one is in fact reliant on the promise that his company, "Gold Money" does in fact have the gold in a vault somewhere, that the gold is pure and not debased with another metal, that the banks who own the vaults are honest, that the government will keep their word and not seize the gold on a political whim, that those doing the counting are telling the truth...

There is risk, there are promises.]]> http://seekingalpha.com/article/77886-gold-prices-can-fall-regardless-of-fundamentals?source=feed#comment-170155 170155 Mon, 19 May 2008 15:26:56 -0400 http://seekingalpha.com/article/77769-time-to-buy-gold?source=feed#comment-170077 170077 Mon, 19 May 2008 12:52:50 -0400 http://seekingalpha.com/article/77741-a-look-at-the-respective-rallies-in-tech-housing-and-oil?source=feed#comment-169884 169884 Mon, 19 May 2008 03:39:06 -0400 http://seekingalpha.com/article/77428-hard-assets-heresy-talking-down-gold?source=feed#comment-168141 168141
seekingalpha.com/artic...]]> Thu, 15 May 2008 12:25:06 -0400
seekingalpha.com/artic...]]> http://seekingalpha.com/article/73586-yale-s-shiller-housing-decline-could-be-worse-than-great-depression?source=feed#comment-155539 155539 Wed, 23 Apr 2008 18:20:27 -0400 http://seekingalpha.com/article/73170-are-central-banks-out-of-their-minds?source=feed#comment-154510 154510
Read Ludwig von Mises's Human Action]]> Tue, 22 Apr 2008 04:45:24 -0400
Read Ludwig von Mises's Human Action]]> http://seekingalpha.com/article/72182-golds-grand-illusion?source=feed#comment-150400 150400 Mon, 14 Apr 2008 11:24:06 -0400 http://seekingalpha.com/article/71644-gold-the-last-cheap-asset-class?source=feed#comment-147960 147960
What this all means is that the spike was meaningless.]]> Wed, 09 Apr 2008 19:57:49 -0400
What this all means is that the spike was meaningless.]]> http://seekingalpha.com/article/71644-gold-the-last-cheap-asset-class?source=feed#comment-147925 147925
The fact that it didn't last more than a day or so proves that it has no meaning.

What gives a price meaning is SUPPORT. If, in 1980, the price of gold held $800-900 for several months, then, and only then would it have meaning.

Also, the idea that gold will return to the $850 price in real dollars, (inflation adjusted) is without any merit. A one day spike (or was it five minutes?) 28 years ago tells us zero (nothing, zilch) about what the market will do tomorrow or next year.

Come on, get real.]]> Wed, 09 Apr 2008 18:19:14 -0400
The fact that it didn't last more than a day or so proves that it has no meaning.

What gives a price meaning is SUPPORT. If, in 1980, the price of gold held $800-900 for several months, then, and only then would it have meaning.

Also, the idea that gold will return to the $850 price in real dollars, (inflation adjusted) is without any merit. A one day spike (or was it five minutes?) 28 years ago tells us zero (nothing, zilch) about what the market will do tomorrow or next year.

Come on, get real.]]> http://seekingalpha.com/article/70893-a-1million-wager-for-gold-bears?source=feed#comment-135545 135545 Wed, 02 Apr 2008 18:00:05 -0400 http://seekingalpha.com/article/66739-target-s-results-raise-questions?source=feed#comment-121077 121077
Labor is a product. Imagine a boss who demanded a refund from an employee for their wages paid because the employee was lazy and did a poor job, or imagine what this lazy worker would say if the employer demanded a re-do at no charge.

I bet that billions are lost yearly to business because of exchanges and refunds. Millions of people believe that they can buy a product, abuse it and then return it with no cost.

Could be that Target is attempting to break this cycle. Good for them.]]> Sun, 02 Mar 2008 09:49:12 -0500
Labor is a product. Imagine a boss who demanded a refund from an employee for their wages paid because the employee was lazy and did a poor job, or imagine what this lazy worker would say if the employer demanded a re-do at no charge.

I bet that billions are lost yearly to business because of exchanges and refunds. Millions of people believe that they can buy a product, abuse it and then return it with no cost.

Could be that Target is attempting to break this cycle. Good for them.]]> http://seekingalpha.com/article/66472-iau-can-spot-gold-continue-its-tear?source=feed#comment-120219 120219
Another good question is, "How do we know the BANKS have our money on hand rather than just paper contracts where they invested in risky schemes?"

The answer is that they don't have our money, and they did invest it in a lot of risky worthless paper. (such as mortgages)


]]> Thu, 28 Feb 2008 11:47:14 -0500
Another good question is, "How do we know the BANKS have our money on hand rather than just paper contracts where they invested in risky schemes?"

The answer is that they don't have our money, and they did invest it in a lot of risky worthless paper. (such as mortgages)


]]> http://seekingalpha.com/article/65958-existing-home-sales-slipped-23-4?source=feed#comment-119133 119133 Tue, 26 Feb 2008 07:24:36 -0500 http://seekingalpha.com/article/63738-john-lee-responds-to-nobel-laureate-stiglitz-s-subprime-thesis?source=feed#comment-115566 115566 Sun, 10 Feb 2008 16:57:03 -0500