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  • Not escaping the post-FOMC, post-Bernanke selloff is gold (GLD -1.2%) which falls to $1,349 per ounce - key support as the technicians like to say as this is the level at which the metal's fast spring slide bounced from in both April and May. Underneath that, there's nothing but air going all the way back to 2009 and $800 per ounce. Ditto for silver (SLV -1.3%) and maybe even worse as that metal has cracked the April and May support. [View news story]
    "only guy trying to save the economy" !
    I suggest getting a copy of "The Creature From Jekyll Island". Then I suggest reading it. Then please remark again about the "Federal Reserve Bank". (hint: it's NOT a federal institution, there are NO reserves and it is NOT a bank.)
    Jun 20 03:35 AM | 1 Like Like |Link to Comment
  • The kind of thing that never occurs at tops: Not pleased the poor performance of his gold fund (-47% YTD) is detracting from the good work at his other products, John Paulson will be mailing the gold fund's monthly figures separately and holding separate monthly conference calls. His firm will also stop broadly reporting the performance of the gold share class in its various funds (investors are allowed to own their stakes with gold instead of dollars). GLD -2.1%, SLV -3.8%[View news story]
    The non-stop harangue from the naysaying media and master manipulation from the master manipulators is having effect.. on GLD. It is also having the opposite effect on physical. The safety, reliability and dependability of gold is unchanged. The same statement is not true for GLD.
    Jun 7 01:43 PM | 4 Likes Like |Link to Comment
  • "There Will Be Haircuts," says Bill Gross (BOND), though for U.S. citizens maybe not as overt as what befell Cyprus depositors. "Trimming the bangs," "The Don Draper," "The Uncle Same Cut," and the "Dobbins" are the symbolic names Gross gives to bland stuff like negative real rates, inflation, and capital controls. [View news story]
    And it won't take much of a trim for the citizenry to seek alternatives that let them protect their wealth. Savers and investors won't be abused without responding.
    May 1 08:48 AM | Likes Like |Link to Comment
  • Gold concluded another crummy quarter, finishing Q1 at $1594.80, down $80/oz., or 4.8%. Combined with its downbeat end to 2012, gold has dropped 10% over the past two quarters for its first back-to-back quarterly drop since 2001. The metal's 1.1% gain for March offers a bit of hope for gold bugs, but it has dropped in four of the past five sessions and 12 of the past 18 weeks. [View news story]
    I cringe when it shoots up. I'm still accumulating. I'm not ready yet.
    Mar 28 05:37 PM | Likes Like |Link to Comment
  • Stocks remain lower following the more hawkish tone from the FOMC, with a benign loss in the Dow masking more substantial drops in the S&P (-0.5%) and the Nasdaq (-0.7%). Gold (GLD -2.2%) and silver (SLV -3%) leg down to new lows for the session. Bond prices fell on the release, but have now turned positive, TLT +0.1%[View news story]
    I wonder how much physical gold Mr. Soros picked up after hammering the market price.
    Feb 21 05:12 AM | Likes Like |Link to Comment
  • The sight of big name managers dumping gold likely augurs badly for its near-term prospects, as such notables as George Soros, Julian Robertson and Pimco reduced their bets on gold during Q4, when bullion posted its biggest quarterly loss in more than four years. The price of gold is down nearly 2% today, and has dropped 6% since the end of November. (also[View news story]
    Prime time for more long-haul dollar-cost averaging.
    Feb 15 04:07 PM | Likes Like |Link to Comment
  • Notoriously poor market-timers, the central banks purchased 534.6 tons of gold in 2012, according to the World Gold Council. It's the largest amount the banks - last seen unloading their gold at less than $500/oz. - have bought since 1964. [View news story]
    I bought gold in 2012 too. I am not one bit displeased. As long as the Fed is still open and doing business, there is nowhere else but gold to preserve wealth. As long as Bernanke and others keep diluting the dollar, it's only a matter of time before China decides to stop financing the profligate American lifestyle. When the Chinese are strong enough they will pull the plug. Washington and Wall Street will find their party has ended - suddenly.

    Maybe next year. Maybe five years from now. Certainly within ten years. There can be no other end.
    Feb 14 02:46 PM | 1 Like Like |Link to Comment
  • Exposure To Gold For A Fraction Of The Cost [View article]
    It would be interesting to know if there is a difference in the tax handling between GLD and IAU.
    Oct 30 09:37 AM | 4 Likes Like |Link to Comment
  • Simple Game Theory On GLD - Based On Soccer, Global Inflation And QE Expectations [View article]
    Dear Bro,

    Most of your well-annotated and wonderfully graphed argument relies on CPI inflation hovering around two percent. The only thing hovering around two percent is the percentage of the citizenry that actually believe the government's CPI inflation numbers.

    A truer inflation number would be six or seven percent. A truer inflation prognostication would be for at least that much near-term and much more inflation in the long term. Bro, you need to understand that this is what the government wants. The inflation is a necessary device the government uses. It uses it to steal money. And it uses it a lot.

    Joe Sixpack though, is wising up to government -- and their Bernake minion. Joe is tired of having his money stolen. He will no longer sit back and watch helplessly as the value of his dollars evaporates. Joe is putting his wealth in gold. And Bro, you can quote stats and graph charts til the cows come home and Joe will be unmoved.

    And you can tell your handlers that you have been made.

    Aug 13 06:17 PM | 5 Likes Like |Link to Comment
  • Sell your gold and buy a house, hire workers, buy grains, or send a kid to college, writes Peter Tasker, noting the price of the metal is at multi-generational highs against these items. Recent financial instability has failed to budge the price, he says, meaning the bull market may be over and gold is back to being just another risk asset. [View news story]
    Why are there no pundits that take a long term view? Moment to moment micromanaging is not the way to approach investment in gold or anything else.

    Social, political and economic fundamentals all indicate situations that cannot be sustained long term. We have allowed politicians and captains of industry to create a set of circumstances that can have no good end. It might take a while to play out but it will. And it won't be pretty. In five years, ten years or 15 years, gold will still be worth its weight in gold. Fiat currency most certainly will not.

    As long as the Fed and the ECB are open and doing business, those thinking long term will keep buying gold.
    Aug 7 09:20 AM | 4 Likes Like |Link to Comment