ManAboutDallas

Is Gold in a Bubble?

Gartman led all his lemmings over the cliff back at gold $930, and hasn't even had the human decency to say "I'm sorry", let alone "I was wrong" about that bit of briliance. (eyeroll) Anyone who follows Dennis 'The Gold Menace' Gartman better like the taste of Beenie-Weenies and Cheez Whiz. Meanwhile, Roubini has shown his true colours as being in the pocket of "somebody", so that's blown any credibility he has, or ever has had.

Meanwhile, Rogers can speak the brutal truth, because he's beholden to no one but himself.

And finally, if you're taking ANYTHING babbled by EWT seriously, may you get immediate help from your Deity Of Choice. You're going to need it.

E*Trade Takeover Chatter: How Should an Investor Respond?

ANYONE but TD Ameritrade !

U.S. Treasuries in a Bubble, Not Commodities

It's the last-gasp attempt by the Fed to manage the yield curve and pretend "everything's ok". The inevitable can be forestalled only so long, however. The pin this bubble will find is when either:

1. Gold tops $1344; or
2. Oil reaches $100 again.

At that point the US$ will be carried off in a body bag and it'll be "Weimar, Part Deux" time.

Gold as a Hedge, Not an Investment

The scariest part of this is that you really seem to believe it.
The US$ is still the world's reserve currency because the U.S. still, for the moment anyway, holds The World's Biggest Gun Barrel. If it didn't, the US$'s status as the world's "reserve currency" would have ended on August 15th, 1971. The US$ is "indexed" to other currencies because, as yet, no other nation/s has/have decided to call the U.S.'s bluff. As you may have noticed, there is a growing rumble of discontent over this paradigm, and the bluff is close to being called.

> Global fiat currency is based on the aggregate asset
> base of the world.

Global fiat currency is based on NOTHING but the speed of the press doing the printing.

Don't worry; what's about to happen will wipe that Village Idiot grin off your face. But your Village will still love you, I'm sure.

On Nov 16 11:03 AM Brian McMorris wrote:

> You hit on a key point that others somehow miss: The US Dollar is
> the world's reserve currency. This means that one way or the other,
> almost every other currency is indexed to the dollar (China's link
> is direct). So, when the dollar goes down, all currencies go down,
> more or less depending on the degree of linkage.
>
> Gold as a trade against all the world's currencies makes no sense.
> Gold might trade higher in a relative sense, one currency against
> another (as Oil does), but as an alternative to paper currency? I
> don't think so. Global fiat currency is based on the aggregate asset
> base of the world. There is not enough, nor enough interest in gold
> as a representative of the global asset base for it to serve as currency
> (and really no need). It is a speculative play only, and therefore
> is as likely to go down as up, especially once supplies begin to
> increase.

Gold as a Hedge, Not an Investment

Yet another educated fool, deluded by others ( Roubini, Minksy, et all ), who knows the price of everything and the value of nothing.

3 Reasons Not to Believe In Gold's Recent Rally

The best reason to KEEP BELIEVING in gold's rally is articles such as THIS one, written by educated fools such as Summers who know the price of everything and the value of nothing.

All Investment Roads Lead to Commodities

Dr. Leeb.... something's up out there in Lending Land.... in just the past couple of days, I've started noticing banner ads for lenders who haven't been advertising for MONTHS.

Orchard Bank, the hi-rate card arm of HSBC, is back on the air. So is Ditech, the online arm of GMAC. GMAC ! Good grief.

A few others, as well.

Something's afoot, something just happened in the past week or so that's got lenders acting like they want to lend again.

What's your take on this?

All Investment Roads Lead to Commodities

China wouldn't be encouraging their citizenry to invest in gold and silver - and not just encouraging, practically begging - if they weren't doing well. Another great SA article recently laid this out, sorry can't remember by whom it was written.

The average American is devoid of any knowledge of history, as well as anything else, it seems. What the average American knows about China is "aren't they Communist, or something?" and is oblivious to the millenia of Chinese history, which said history reveres precious metals for what they are: repositories of stable VALUE.

The Chinese WANT their population to feel the effects of wealth, and owning gold and silver tends to induce that effect, doesn't it?

The next card the Chinese are going to play is this:
Now that the Hong Kong gold is being returned from Britain to the new vault in Hong Kong, watch for China to conduct a little experiment by pegging the Hong Kong Dollar to that gold; a little laboratory, if you will, to carefully watch what happens with a gold-backed currency. They they'll apply the lessons they learn to the Renminbi Yuan.


On Nov 12 09:56 AM bluesmoke wrote:

> Excellent analysis. Although I agree with your observations there
> remains one big wild card - is China really doing as well as they
> say they are? Granted, they have plenty of stimulus money to keep
> the party going for quite some time. But if China were to implode,
> all bets on commodities would be in question.

Google: Setting Itself Up for Failure?

I don't have to "hope", Mr. Comatose In Wherever You Are...

The inevitable can be forestalled only so long.

People such as I bring a healthy dose of reality to any given situation when people such as yourself can't stop eating Pie In The Sky.

Now go do something useful and sit on a tack.


On Nov 11 11:14 AM JW.USC wrote:

> Keep hoping for that, Mr. Classless in Dallas.
>
> People like you are pathetic.

E*Trade: Potential Ameritrade Merger Makes Sense for Both Companies

ANYONE but TDAmeritrade ! E*Trade will have such a mass exodus of customers TDA will think they've bought a skeleton when the bleeding stops.

Chase needs a retail brokerage operation; Capital One needs a better one than they've got now; Wells needs a better one than they've got now; ANYONE but TDAmeritrade!

Google: Setting Itself Up for Failure?

Google will be buying Apple once it finishes collapsing after Jobs croaks which, given the state of his health, will be ".. any minute now".

Elliot Wave: The Dollar Is Set for a Major Rally

Kind of a shame Prechter isn't Japanese, he would have killed himself years ago.

Watching the USD Drop? Here's What You Should Really Be Watching

You can't fight real wars with fake dollars for very long, unless you have:
a) an indigenous manufacturing-based economy whose manufacturers you can persuade or force - take your pick - to accept your fake dollars; and
b) a citizenry whom you can persuade or force - take your pick - to trade their real dollars for your fake dollars [ read: War Bonds ]

This is how the U.S. managed to fight and win WW2. Those days are over. The U.S.'s industrial base is gone, and its citizens, except for the 2% at the top of the pyramid, are all bankrupt, along with the U.S. itself.

The Romans learned it the hard way, the British learned it the hard way, and now the United States is learning it the hard way...... you can't afford an "Empire" for very long when no one wants to pay for it, any more.


On Nov 10 10:08 AM Shishir Nigam wrote:

> Egg,
>
> Appreciate your comment.
>
> Agreed, Dennis Gartmen often provides that reasoning as to why the
> US dollar being the reserve currency is not going to change anytime
> soon. I acknowledge that fact about military power but I think that's
> a much more LONG term factor - and by long I mean something 20-30
> year down the road. That's when the balance of military power will
> start affecting things. But I don't see any country overtaking the
> US military prowess for the next 20-30years.
>
> In this article, I was looking focus more around the 3-5year horizon
> and hence focused on the factors that I did.
>
> Thanks for bringing up an important point!
>
> For more analysis, check out my blog: youngandinvested.com
>
>
> On Nov 10 02:35 AM Egg wrote:

Rally as Expected, Another Gold All-Time High

And you can always drink the oil, right Chris? Get used to "[T]he gold story", Chris, it's here to stay to $6000 an ounce. Might even buy 'ya that bomb shelter you'll be needing, too. If you've got an ounce then, that is.


On Nov 10 11:49 AM chris coonan wrote:

> The gold story is getting a bit old. Oil is more interesting, as
> it tends to affect people more directly. The price of a bar of gold
> sitting in a storage locker doesn't do much for me, of course, my
> family never invested in bomb shelters either.
>
> I am sure that in the apocolypse, it will come in handy, and you
> can buy the last of the canned goods at the market.

Gold Consolidates at $1,100 as U.K. Credit Rating Is Under Review

Ever since the $ made its top back in early March, the Pound has been on some sort of Mission From God. Just look at the chart. What IS the "MFG"? Darned if I know. But nothing seems able to deter it and the notion that Fitch knows more than The Market about the creditworthiness of a country - any country - is ludicrous and laughable, especially given Fitch's recent track record at spotting credit risks. Har, de har har har.

Something is driving the Pound relentlessly higher, at least against the $. When that reason becomes apparent, then and only then will the Pound-versus-$ rally finally come to an end.