Blue Scorpion's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/212289/comments http://seekingalpha.com/article/101909-lihir-gold-price-and-reality-part-ways?source=feed#comment-290920 290920
You must be a masochist to publicly flaunt your ignorance the way you do here at SA. I'll now try to shed a little light on gold, but it's up to you whether or not you keep your eyes open.

Back in the day, when gold was $35/oz., an oz. of Au would get you a well-tailored suit. Today at $730/oz., that same oz. of Au still gets you a well-tailored suit. But in dollars, that same suit has escalated in price 21 fold. Today, the tailor will make you one sleeve from the elbow to the wrist for $35. Furthermore, there is no other commodity that can make the same claim of purchasing power retention over the past 70 years.

Let me go biblical on you. Back in the time of King Nebuchadnezzar, an oz. of Au bought about 300 loaves of bread. 3000 years later, an oz still buys you those same 300 loaves.

Au has been exchanged as a currency or surrogate for currency off and on for over 6000 years. Which might explain why every central bank of any significance still retains Au in their vaults. But can you point to a single fiat currency that has lasted more than 500 years at best before ultimately collapsing into the abyss of worthlessness?

Au will get you across the border if it comes to that, Alan. And at the rate we are going, it very well may come to that. But if you ever do need to get across the border, it's highly doubtful you'll find any assistance if all you are waving in people's faces is greenbacks.

Au is money, Alan. But it's money that retains its value. Unlike your beloved dollar.

Been fun. See you around SA.]]> Sun, 26 Oct 2008 14:45:16 -0400
You must be a masochist to publicly flaunt your ignorance the way you do here at SA. I'll now try to shed a little light on gold, but it's up to you whether or not you keep your eyes open.

Back in the day, when gold was $35/oz., an oz. of Au would get you a well-tailored suit. Today at $730/oz., that same oz. of Au still gets you a well-tailored suit. But in dollars, that same suit has escalated in price 21 fold. Today, the tailor will make you one sleeve from the elbow to the wrist for $35. Furthermore, there is no other commodity that can make the same claim of purchasing power retention over the past 70 years.

Let me go biblical on you. Back in the time of King Nebuchadnezzar, an oz. of Au bought about 300 loaves of bread. 3000 years later, an oz still buys you those same 300 loaves.

Au has been exchanged as a currency or surrogate for currency off and on for over 6000 years. Which might explain why every central bank of any significance still retains Au in their vaults. But can you point to a single fiat currency that has lasted more than 500 years at best before ultimately collapsing into the abyss of worthlessness?

Au will get you across the border if it comes to that, Alan. And at the rate we are going, it very well may come to that. But if you ever do need to get across the border, it's highly doubtful you'll find any assistance if all you are waving in people's faces is greenbacks.

Au is money, Alan. But it's money that retains its value. Unlike your beloved dollar.

Been fun. See you around SA.]]> http://seekingalpha.com/article/99460-is-gold-a-sucker-s-bet?source=feed#comment-281006 281006
The opposite is true in deflation. If prices next month will be lower than they are today, then currenct will be dearer down the road. So no one spends, believing goods will be cheaper next month than they are today. Cash is hoarded, since prices of goods are falling and next month that same unit of currency will buy more cans of soup than it can today. Since gold is money, it too is hoarded. With less on the open market for coin dealers and jewelry, the price skyrockets.

The author, in his ignorance, has it azz-backwards. But I'm not surprised...not here at SA. One of these days you ppl are going to shock me and actually do your homework.]]> Mon, 13 Oct 2008 00:46:59 -0400
The opposite is true in deflation. If prices next month will be lower than they are today, then currenct will be dearer down the road. So no one spends, believing goods will be cheaper next month than they are today. Cash is hoarded, since prices of goods are falling and next month that same unit of currency will buy more cans of soup than it can today. Since gold is money, it too is hoarded. With less on the open market for coin dealers and jewelry, the price skyrockets.

The author, in his ignorance, has it azz-backwards. But I'm not surprised...not here at SA. One of these days you ppl are going to shock me and actually do your homework.]]> http://seekingalpha.com/article/99566-bolivia-a-blizzard-of-misinformation-on-mining-and-everything-else?source=feed#comment-280980 280980 Mon, 13 Oct 2008 00:19:08 -0400 http://seekingalpha.com/article/97004-on-apex-silver-s-huge-day?source=feed#comment-263456 263456 Wed, 24 Sep 2008 10:07:47 -0400 http://seekingalpha.com/article/87528-of-rumors-and-bank-runs?source=feed#comment-217444 217444
Educate yourself instead of tossing around uninformed generalizations.]]> Tue, 29 Jul 2008 11:38:15 -0400
Educate yourself instead of tossing around uninformed generalizations.]]> http://seekingalpha.com/article/87528-of-rumors-and-bank-runs?source=feed#comment-217442 217442
Educate yourself instead of tossing around uninformed generalizations.]]> Tue, 29 Jul 2008 11:37:38 -0400
Educate yourself instead of tossing around uninformed generalizations.]]> http://seekingalpha.com/article/82330-oilsands-quest-looking-to-break-out-jim-cramer-edition?source=feed#comment-191337 191337 Mon, 23 Jun 2008 19:04:18 -0400 http://seekingalpha.com/article/81098-colossus-minerals-why-i-should-have-listened?source=feed#comment-188719 188719 Thu, 19 Jun 2008 16:59:29 -0400 http://seekingalpha.com/article/81823-speculators-continue-to-drive-oil-higher-at-risk-of-global-recession?source=feed#comment-187806 187806
As much as Uncle Sam lies to us every month with the CPI numbers, the one thing both Paulson and Bodman have gotten correct is that the rise in oil price is due to lays of supply and demand, not speculators. The other factor is the plummeting value of the dollar.

]]> Wed, 18 Jun 2008 13:12:24 -0400
As much as Uncle Sam lies to us every month with the CPI numbers, the one thing both Paulson and Bodman have gotten correct is that the rise in oil price is due to lays of supply and demand, not speculators. The other factor is the plummeting value of the dollar.

]]> http://seekingalpha.com/article/81098-colossus-minerals-why-i-should-have-listened?source=feed#comment-187757 187757
"Exploration License 850425 at Serra Pelada is valid to 2010.
Although renewable for another two years, it is under the
discretion of the Department of Mineral Production
(“DNPM”). There is a chance the DNPM will not issue
a renewal to Colossus if needed. As well, if drilling and
sampling takes longer than anticipated there is a chance
a renewal will be denied. However, given the depth of
the technical team and their Brazilian experience and
connections, this risk is minimal."

2010 isn't that far off. Too many if's. Pass.]]> Wed, 18 Jun 2008 12:07:38 -0400
"Exploration License 850425 at Serra Pelada is valid to 2010.
Although renewable for another two years, it is under the
discretion of the Department of Mineral Production
(“DNPM”). There is a chance the DNPM will not issue
a renewal to Colossus if needed. As well, if drilling and
sampling takes longer than anticipated there is a chance
a renewal will be denied. However, given the depth of
the technical team and their Brazilian experience and
connections, this risk is minimal."

2010 isn't that far off. Too many if's. Pass.]]>