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  • U.S. Treasuries in a Bubble, Not Commodities [View article]

    I agree there is a bond bubble. However, so long as the US is committed to artificially depressed interest rates I see no reason why bonds will collapse in nominal value.

    The bond bubble will burst GRADUALLY, the mechanism being that an annual devaluation of the dollar of 10-15% over the next 4-5 years will cause the inflation-adjusted value of bonds to drop by about 70-80%.
    Nov 18 09:59 am |Rating: +1 -1 |Link to Comment
  • Archie's Rule and Junior Mining [View article]
    No Jake, he said more than that, he gave a quantitative benchmark for predicting profitability. How good a gauge it is I don't know, but he did say more than just a mine has to be profitable to be profitable.
    Mar 09 13:43 pm |Rating: 0 0 |Link to Comment
  • Why I Got Gold Wrong [View article]
    Note this gem of idiocy in this article:

    "Here's how wrong is the idea that gold is money: Islamic law more-or-less mandates that gold be used as money and yet Islamic states issue fiat currency."


    So Islamic states do not adhere to Islamic law. What's your point, Bailey?


    These bozos like Bailey make the CNBC nitwits look like Nobel Laureates.
    Sep 22 11:11 am |Rating: 0 0 |Link to Comment
  • Why I Got Gold Wrong [View article]
    And I concur with others who have commented: Exactly what is so "tragic" about gold going up.

    Perhaps it will lead to our adopting a sound monetary system somewhere down the road, rather than our "funny money system" of US dollars and other toilet paper whose value is based on the authoritarian power of government rather than markets?
    Sep 22 11:08 am |Rating: 0 0 |Link to Comment
  • Why I Got Gold Wrong [View article]
    First of all, Gold is deeply depressed in price and is now showing a very slight rise off its depressed lows.

    What planet does Mr. Bailey hail from that he thinks Gold is booming right now?


    Secondly, it may indeed be true that we are undergoing a deflation right now due to the vaporization of credit, but it is also true that the only way out of that without an immediate collapse of the financial system is INFLATION INFLATION INFLATION.

    Thus, if the price of gold were to start showing some strength it might be in anticipation of the huge inflation that is looming. Mr. Bailey, ever heard the concept that the market does not reflect the present economy, it anticipates 6-12 months going forward?

    So I hope indeed gold does stage a rally.
    Sep 22 11:02 am |Rating: 0 0 |Link to Comment
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