sdavid0419

Gartman on the 'Mind Boggling' Gold Bubble

At this point Bernanke is nothing more than a talking head. Congress has handed him two unfunded wars, a broke FDIC, a Social Security lock box full of IOU's that are due, broke pension guarantee funds. Like it or not Bernanke will be printing more and more money as far into the future as one can see. If the gold bubble is waiting for the money presses to stop before it stops it sure as heck won't be in my lifetime!!!!!

Beware Fortune Magazine's Gold Warning

I couldn't agree more with your article. I do have a small correction to add. In between the highest prices paid ads are now appearing the former head of the US gold supply advocating the purchase of at least some gold for your portfolio. In addition there has been a long running radio ad selling gold which is why I was able to get in at the $600 level.

As to chap08 warning of government confiscation of gold I would like to point out that I attend as many TEA parties as I can and I am noticing that more and more people are showing up and the speakers are angrier and angrier. I also go to gun shows and have noticed crowds and buyers are growing like crazy. Look in any Lowes or TSC and you will see gun safes selling like crazy. Any attempt to confiscate gold could and very likely will trigger a civil war.

Is It Time to Start Gold Prospecting?

What would make someone like me think the dollar is going to go bust? By the way I DON'T think the dollar will ever go bust. I just think its going to have to lose a lot of its value. Lets start off with the premise that we are currently paying 56% of GNP to service existing debt and the presses at treasury are still printing money as fast as it can. Next lets consider the IOU's in the Social Security Trust Funds which are soon going to need to be replaced by more printed money as receipts can't possibly cover it. Add in not one but two wars that keep raising their cost in american lives as well as more printed dollars. Factor in an FDIC very much in the red and member banks can't contribute another dime. As the over 200 teetering banks crumble we no doubt will print more money to pay off the promised coverage of those insured accounts. Not to mention the pension guarantee fund the government managed to commit to taxpayers paying off a debt stockholders were liable for. Did I mention Congress generously paying unemployment benefits well beyond what the premiums were supposed to qualify for. In spite of all this my faith that we can overcome this is not shattered, however, the direction we are going definitely needs to be reversed sooner than later or else the dollar will go down.

What Lies Ahead for Gold ETFs?

The run up in gold is just a little ahead of the feared coming inflation due to the Obama/Benanke money printing policies. The crash in oil prices has allowed them to get away with it for a while now. The August increase of 1.7% in wholesale prices which interprets into 20.4% annualized indicates it may now be time to face the piper. In a few weeks we will have the Sept wholesale prices and if the trend continues the double digit inflation will be upon us. I take this to mean it is very likely interest rates will finally raise drastically and banks will have to pay them or loose the little assets they have left. This could be the stone that tumbles the hundreds of banks still tinkering on the brink of collapse. The FDIC is already showing red ink. Throw in some more bad unemployment numbers though I am happy GM has finally announce a partial recall of some laid off workers which is the only good news I've seen. As I say in all my comments gold is not an offense but a defense. I haven't been able to get into the movies for 25c in years. Once inflation comes everything adjusts upwards and the rush to gold is just those of us trying to be first in line to protect our assets. I continue to say throw out your history books and charts and look in front of you not your rear view mirror.

Gold Hits Highest Level Since June 5 - Next Stop $1,000?

There is no doubt in my mind that gold is eventually going to those higher levels. However, nothing in public trading goes straight up or straight down. Right now Oil is slowly but surely finding its way back to the $100 a barrel level which started all of our troubles (along with the housing bubble and the bank collapse) gold seems to be following it up. The oil price is an indicator that the oil companies that are spending billions to buy off our elected government to prevent them from embarking on Obama's alternative energy path. I believe they have no choice but to do this as they have billions tied up in infrastructure that could be obsoleted should we successfully wean ourselves of fossil fuel. I firmly believe it is in the public's best interest to stick the Obama course and will vote and encourage others to vote that belief. As for the short term it is the end of the summer doldroms for precious metals and they already have recaptured the summer selloff. I'm guessing in the short term the summer traders will be covering their shorts and/or taking some profits, I did. I'm looking for a brief selloff in which I'm intending to reposition. I think this will be very brief so one will have to act quickly as I believe by January or a little sooner the Bernake inflation numbers will be undeniable. I'm also predicting the almost 1 in 3 unemployed will be exchanging home made gifts this xmas and retailers will take the worst hit yet.

11 Months After the Oil Bubble Burst

Brilliant observation. I'm still losing my @ss on my Chevron stock and my GLD stock is showing a profit. If we all had 20/20 hind sight we'd know exactly when to buy and sell our stocks. I was still working after the last recession ended and one of my employees heard on TV that a certain stock had gained 300% in less than a year. I had held that stock from prior to that colapse. I told her if it gained 300% more I still wouldn't be even. For someone talking a stock up a 300% gain sounds great. There ought to be a law that if a stock is only getting back to where it should have been all along it can't be considered a gain but a cutting of the losses which is a much more accurate statement.

The Vicious Circle of a Falling Dollar

You get it. I get it. T. Boone Pickens gets it. What the heck do we have to do to overcome the oil interests and get through to our elected officials?

It is difficult to push alternatives when a solar generator that produces 1700 watts of power costs $1200 compared to a gasoline powered one that delivers 5000 watts of power costing $500. I get it that I'm saving $13 every time I use the solar generator what I don't get is having to pick one or two items to keep on during a power shortage. The 5000 watts has barely gotten me by. As to wind power there are lots of hits on google but very little specific information as to cost and the amount of power they generate.

Gold and Silver About to Hit Resistance

We got into this situation because our elected officials have acted so irresponsibly over the years. The oh so clever baby boomers tricked theirselves into believing they could have both guns and butter if they used hokey accounting and credit. Just like hokey accounting brought down Enron it will catch up with our government too. Laws like "Murphy's Law" and "the law of supply and demand" can only be avoided before so long and then the pendulum will find its way back. The light is coming on with our crediters. Dubai is building its own Ft Knox. China wants more gold also. Believe me your charts have never seen the kind of demand the lack of trust can develop.


On May 14 12:29 PM Kristjan Velbri wrote:

> David, the charts above show the price of silver and gold futures
> contracts as determined on the futures markets (like COMEX, which
> is part of NYMEX). The price of these metals is influenced by central
> banks, large commercial banks and technical analysis. The days when
> gold and silver were priced according to their actual worth and demand
> on the market are long gone. Some say these times are coming back
> but I wouldn't bet on it. Of course, it would be nice to have money
> with actual collateral.
> If you want to know more about resistance, then google the following:
> technical analysis resistance

Gold and Silver About to Hit Resistance

Go to the US Treasury webb site and try to buy new Gold or Silver coins and you will get the message that sales of these coins has been suspended due to an extreme shortage of blanks to mint them on. You can still get some older coins in PROOF condition at a huge premium. So whats all this resistance about?

Disagreeing with Garty: We Are Long Gold

I'll take a GLD/SLV exacta box then 2 if 4 and reverse on both of them. Pleeaaaasssseee If you want to invest in the opportunity look at the seeable horizon $1500-$1600 by December. I want to kick myself in the pants for all the times I took the short money and ran while the long money was way better than anything I did with the capital raised from the short play. If you want instant gratification take the filly in the Preakness. Rain or shine she will lead at every call.

Gold and Economic Freedom: Reinterpreted for the 21st Century

Excellent presentation of the facts. I guess with our current situation the only thing left for us to do is go on the SAND standard.

How Does One Value Gold?

The answer is there is only a finite amount of gold. Not much use for it other than jewelry and electronic connections, and guilding a few city halls here and there. However, if currency is pegged to something with a finite amount our elected officials can't print more than that finite amount!!!!!!!!

The sign in New York City showing our current National Debt is once again running out of zeroes. Our elected officials are talking about reducing our deficit by one third in ten years. Here's the tricky part. The deficit is a yearly thing and for each year there is a deficit the National Debt increases. So in plain English our elected officials are talking about spending more than they take in for far more than 10 years to the future and have no plans of ever paying off the National Debt. I guess they figure the further out they push it the more likely we are to get hit by an asteroid that destroys life as we know it.

Will the Fed's Overkill Succeed?

good summary of everything I've been spousing for some time now. What I'm unclear about is the bottom line. Once we've printed all the money we can and bailed out all the people that should be going to jail and bankrupting innocent citizens begging our representatives to stop this insanity. What happens next? Do we become indentured servants to the creditors of the elected caval that chose to do this to us? In the great debate of the lie that "we have to do this because the alternative is not acceptable" I am quick to point out what we are really talking about since I have forced this debate to full conclusion with people that I consider intellegent enough to represent the opposing point of view. That is, should we allow big business to go bankrupt and start completely anew from the ashes with hopefully more honest and caring merchants or should we once again do wealth reassignment and bankrupt every US citizen of all their life savings along with untold generations to come (as if when they arrive they are going to be crazy enough to accept the fact that they are burdened with debt that had nothing to do to create) and save the crooks that put us in this position? You people that thought Obama's "CHANGE" meant from big business to private citizen could not have been more incorrect.

Indians Are Selling Gold - Is Their Thinking Right?

Hey, if the Indian's bought it cheap what's wrong with a little profit taking? They can only wear so much jewelry at a time and that is what they purchased it for. Me? I don't wear jewelry. I have taken a small profit on each cycle and repositioned back in at the lower price. With Obama spending billions he don't have I can't risk profit taking at this time as it is inevitable that there is a huge upward movement in gold that may have already started on the day the give away bill was signed.

Will Silver Now Outperform Gold?

I'm thinking with Obama's siganture on the spend more than you have bill hyperinflation has started. If I were going to artificially try to manipulate the price down one more time I'd be shaking in my boots. Once we get $6 newspapers and $10 sodas gold will be the only safe haven left for all that sideline money. I think everyone involved knew from day 1 hyperinflation was the only way out where we get to pay our largest debt ever off at pennies on a dollar only to cost anyone holding those dollars their life's savings.


On Feb 16 01:51 PM ManAboutDallas wrote:

> Watching the action of the past two weeks in both gold and silver,
> I can't help but get the feeling there's at least one more torpedo
> in the water, heading gold and silver's way. Don't be surprised by
> one last $100 mugging in gold and $2 or $3 mugging in silver. The
> enemies of gold and silver are NOT going to go quietly into that
> good night without one last kamikaze attack.