paxjds

Gold Price Appreciation Likely on Eurozone Debt Concerns

Yes, that is the fat lady singing in the background. I last heard her on a French gunboat in 1970 or 71 sailing for the US , mad as hell as we would not pay in Gold.


On Dec 16 09:42 AM ManAboutDallas wrote:

>
> The EU itself is toast, Mr. Wachtel, and because it is, its HandMaiden
> the Euro is toast, as well.
>
> The notion that the disparate nations of Europe were suddenly going
> to kiss and make nice after centuries of fighting amongst themselves
> was a Fairy Tale concocted by 20th Century daydreamers.
>
> And then to believe they were going to adopt a common currency and
> treat it with any sort of respect was piling idiocy on top of delusion.
>
>
> Watch for Germany to start making plans to resurrect the Deutschemark,
> and the French right behind them with a "new, improved" Franc.<br/>
>
> Is that the Fat Lady I hear warming up off-stage?
>
> On Dec 16 08:53 AM Cliff Wachtel wrote:

What Motivates Fox's Glenn Beck on Gold and Healthcare?

Monex sells around 4% over spot price for gold and silver coins.
You are the one blowing hot air. Price of Gold in 1971 was $35 an ounce. At this moment, spot gold is $1134 an ounce. An increase of 3,240% for this conservative investment, or 85.2% average return per year. Perhaps you should go to a college that teaches this is a very good return for such a conservative investment. I hope you continue with your plain stupid way of thinking and also by not watching Fox news, thereby leaving more gold on the market at a reasonable price for us common folk who like the safety of gold returns.
You are so anti gold, perhaps you might buy some Lehman stock instead.


On Dec 16 12:51 PM User 521090 wrote:

> The reason this is relevant on an investment site is because some
> of the inflation in the price of gold is due to the relentless touting
> of gold on Fox, both by Beck and others. From an investment standpoint,
> the concept that the price of gold is being supported by mass exhalation
> of hot air might give an investor pause before throwing one's money
> after a further increase in the price of gold. The sheer audacity
> of persuading people to invest in gold through a vehicle that charges
> them an extra 35 percent over the actual market price is astounding.
> It should be illegal. But then again, so should usurious interest
> rates and their evil twin, "late charges." I won't hold my breath
> waiting for reform. Meanwhile, the best investment idea I can communicate
> to the Fox-watching masses is: turn off your TV.

Fat Cat Bankers, Obama and 'Corporate Communism'

Most of the government programs under Obama have been to bail out the fat cats of banks and wall street. I have to many family and friends that are non college grads and they are not seeing their life getting better or receiving any benefits from Obama. Barnacle Ben at the Fed in Senate testimony, refuses to say where several trillion dollars were spent. They are not going to blue collar workers or half of my very large family would be getting fat checks. Nor are they going to the other half whom are college grads, no checks either. Obama socialism sucks.

The Fed has about 2 trillion $ that they refuse to tell us where it went. It did not go to main street as per above. Lets therefore assume it went to one million Obama insiders. 2 trillion $dollars divided by 1 million Obama insiders is $2 million per insider. Now that gets a lot of political IOU's from the "Elite". As I write, this reminds me of the Soviet Union, 1 million or so elitists communists, and the rest were struggling main street-ers. It is time to abolish the FED. Obama and top Dems have got to go in 2010 and 2012. God help us. We the people no longer have real representation!!!

Fat Cat Bankers, Obama and 'Corporate Communism'

Team Obama criticizes Bush Team for not being able to capture Bin Laden half way around the world in the mountains between two countries. Obama cannot even keep uninvited guest out of the white house. What a joke.
Obama bows to Muslim leaders. Next year, if he kisses Ass
in the Mosque, they will no doubt turn Bin Laden over if he is still alive. Now that is real Socialism at work.

On Dec 15 06:15 PM Tony Petroski wrote:

> Obama is not a socialist and the temperature of the earth is rapidly
> warming. Keep repeating these "truths."
>
> Mr. Harrison: I like most of what you write and find your articles
> generally sensible and informative but you lost it here.
>
> Let's examine a few points:
>
> 1) It's true that the first year of the Obama administration contains
> nothing of note and legislation was already put in place by the Pelosi
> regime with the signature of lame-duck President Bush. In that sense,
> Obama can't be blamed for TARP (an abomination) or the "Keep all
> Federal, State and Local Public Employees Flush" (KAFSALPEF) also
> known as the "stimulus package." That too was a Pelosi/Reid creation
> although the neophyte President Obama put his signature to the bill.
> If that pile of pork and lard isn't "socialism," then what is? To
> say that the lame-duck Bush was part of the mess doesn't make it
> "capitalism."
>
> 2) President Obama has committed to "Cap and Trade" legislation that,
> aside from being a huge job killer (except in China where the few
> remaining American manufacturers will want to relocate) it's meant
> to solve a problem that doesn't exist: Global warming. What are the
> Citizens of the World convening in Copenhagen up to? Saving capitalism
> from itself? It's the largest collection of leftists since the gatherings
> in Nuremberg by the National Socialists.
>
> 3) President Obama has comitted to a takeover of the U.S. healthcare
> system trumpeting legislation that mimics the takeover of the British
> system by the Labor socialists after World War II (once Churchill
> was given the boot).
>
> 4) Obama's "tough talk" on Afghanistan is a ruse. It was pure politics
> done so during the campaign he could show the public that while he
> was against the war in Iraq, he wasn't soft in general. After all,
> he wants to find Bin Laden and take the fight to Afghanistan (how's
> that going?) Are we bringing Bin Laden to New York for a fair trial
> by a jury of his peers? Obama is and will remain as soft as a marshmallow
> and the world's thugs know it.
>
> Mr. Harrison. Accept the fact that Obama is a socialist. Pelosi and
> Reid are socialists as well. I agree with you that the "maverick,"
> Senator McCain, would probably have jumped on this socialist roller
> coaster as the lame-duck Bush did. But it's still socialism, and
> reasonable people have to ask: America, the last best hope of the
> world. Does she want to follow the path of the Europeans, Fidel Castro,
> and Hugo Chavez?

An Unbelievable Investment Opportunity in Gold

See paxjds article about 8 articles before your response on gold. Gold has gone up more than 3500 percent since coming off the
gold standard in 1971. That's 92% per year average return. A George Washington dollar is still a dollar, that's a 0% return in my book. My offer goes to you as well, I will buy the same amount of gold from you in exchange for $200,000 of this precious fiat money with George Washington on it. So don't show up to sell me the gold and keep blowing smoke, and do continue to defend the fiat currency that will be worth toilet paper in ten years. Gold bugs know the difference between gold and fiat currency, and the holder of fiat currency BEWARE. You have been advised and prefer to follow the Barnum and Bailey salesmen in Washington and Wall Street. The street savvy people and investors keep working and accumulating more gold.

On Dec 15 02:30 PM Brian McMorris wrote:

> SE, your initial point is very well taken: gold and paper are in
> the same boat, they are only worth what people think they are worth.
> Then you divert off into opinion-land where you make statements that
> the time of paper is over. Really?? Where is your crystal ball? I
> would like a look.
>
> Here is a fact you will never hear from a goldbug: there were severe
> economic cycles in the 1700s, 1800s, and 1900s up to the Great Depression.
> All occurred when the world was on the Gold Standard.
>
> Gold does nothing to insure a strong economy, controlled government
> spending or investor / consumer confidence. Gold is a severe master
> that punishes its servants. There is no accomodation with a gold
> standard for anything that goes wrong in an economy (and it has and
> will). The idea behind a fiat currency standard is that responsible
> governors (our Congress in this country), would increase money supply
> in times of stress and tighten money supply in times of plenty. The
> problem is our elected officials, not the idea of fiat currency.
>
>
> On the other hand, if we had a debt panic (and there is still plenty
> of debt under a gold standard), and people could not come up with
> the gold to trade in for their debt should it be called, there is
> NOTHING any one can do about it. That is when you have the kind of
> cataclysmic debt deflation that was common under the gold standard.
> Study your history and you will change your mind about the value
> of gold as a currency.

An Unbelievable Investment Opportunity in Gold

You can purchase Gold bullion and coins(non Collector) from a lot of dealers. I prefer Monex in California. It is a matter of building trust and personality building relationships. Always take possession IMHO. Start with a small order and build up as you develop trust.
You can also buy "Collector Grade" historic gold and silver coins from gold dealers all over the country. PCGS #1 and NGC#2 are the top rating system. IMHO a PCGS rating is usually 1 coin rating lower as NGC tends to over rate slightly. You can buy these MS rated coins also at Coin shows, sometimes I find one at a flee market, ebay sell them, and sometimes large coin dealers have them for sell on ebay in the 20-$50,000 price range.
Kitco is another great source. Many mints around the world sell them direct, some sell them thru a short list of approved dealers. China sells gold at the banks. Europe has gold in ATM machines.
Start Google searching.
Buy and take possession for the long term.


On Dec 15 03:00 PM manigambler wrote:

> J.S. Kim A truly great article. Thank you for the valuable opinions
> and information.
>
> In your eyes (and others here on the board), what is the best way
> for a common investor like myself to purchase gold for the long term?
> I have visited different websites, etc. and was hoping you could
> give me some thoughts on this.
>
> Thank you.
>
> -Julian

An Unbelievable Investment Opportunity in Gold

If there is no intrinsic value of gold:
1 then why did the US build the depository on Fort Knox
2. Why are central banks around the world buying gold to add to the Gold they already have in there safes.
3. If Gold has no value as you say, I will buy from you all the worthless gold from you that you have or can secure and pay you $10 per OZ for the worthless gold. I will buy from you $200,000 worth of Gold from you on December 29th, 2009 and meet you at noon at any Fifth Third Bank in Columbus Ohio to complete the transaction. I will gladly trade you my fiat $200,000 for your 20,000 OZ of gold that has no intrinsic value. I hope you dont mind my bringing TV cameras along to record my getting this worthless gold why you are ripping me off for $200,000 of that valuable fiat money known as the US Dollar.

On Dec 15 04:07 AM jrainspe wrote:

> EVERY HISTORICAL PIECE OF EVIDENCE indicates that adhering to a gold
> standard worsened the worldwide depression of the 30s and delayed
> the recovery of those countries that held to it.
>
> How many times does it have to be said. THERE IS NO INTRINSIC VALUE
> IN GOLD. IT IS A MERE DELUSION AND ANTICIPATION OF PEOPLE THAT MAKES
> IT VALUABLE.
>
> Absolutely nothing has any value as a means of exchange for goods
> (money) unless it is perceived as valuable by both parties. It is
> like the fairy tale of King Miser, left to sit on his pile of gold
> with nothing to do but count it again. You can't eat it, drink, smoke
> it (although I guess your mind can get "high" on the idea of it)
> or have sex with it. It has no value, except making pretty baubles.
> It's too soft for construction, not as conductive as silver, and
> is basically inert as a chemical agent.

Is Gold Bubble Popping?

The gold bubble price of $2300 ala 1980 in today's dollars will be a new floor in Gold when it is hit. We now have 25% more people on the planet, Central Banks are now buying, we have printing presses running all around the world cranking out phony fiat currency that is depreciating as fast as they come off the press, gold production has been in a steady decline for about ten years straight, banks and ATM's around the world are now selling gold to consumers(not USA). Look for Physical Gold to be $2300 before the end of 2012, and Gold to be at least $6,000 by 2020. Gold and possible silver are the only real Buy and Hold assets on the planet for at least the next ten years. Meanwhile the dollar will go down to 10-15% as will most other currencies by 2020. Buyer beware, as this time, you now know where you need to put your paper fiat currency for real wealth growth and preservation.

Printing Our Way to a Jobs Recovery?

Simple logic says for them(GOV) to forgive the debt by decree thus eliminating all interest and principle from the government books. That just leaves the QE fiat currency floating around doing is destructive force of inflation and currency debasement.


On Dec 12 08:51 AM Denis Gould wrote:

> Just had a conversation with my daughter about why QE is bad. Apart
> from the obvious "if leaves were currency it would take 3 deciduous
> forests to buy a hot dog" I'm not sure I explained anything really.
> If government's run deficits but finance them by issuing bonds which
> they then buy themselves then they only owe themself money. Going
> to need to think about this a bit more.

Gold Bubble Bursting, Or Just Another Correction and Consolidation?

Man about Dallas.
I am a political conservative and also conservative in my gold forecast. I GIVE YOUR FORECAST AT LEAST A 50% probability. But now we have an excellent range for the astute readers and investors. Buy physical Gold and Hold for long term. paxjds


On Dec 09 02:17 PM ManAboutDallas wrote:

> Both numbers are inevitable, but much sooner than your expectations.
> We'll see $2300 easily some time next year, 2010, and $6000 no later
> than your 2012.
>
> Today's Treasury auction was much worse than expected, and signals
> the start of the REAL monetisation, because what it means is that
> the Fed is soon to be the Buyer Of Last Resort for future Treasury
> auctions, which means the Money Presses which are already at redline
> RPM are going to be cranked up even faster.
>

All That Is Gold Does Not Shine

Do your analysis at the most critical point for gold in the last 50 years, when Nixon took us off the gold standard in 1971. Gold comes out much better. And with forward looking to 2020, Gold will be $6,000 or more. The Dollar and government bonds very well could be out of existence. Very Troubled times like these mandates the worlds best hedge against failing world fiat currencies, PHYSICAL Gold

Gold Bugs Are Warned, Again

The Gold bubble price of $2300 ala 1980 in today's dollars will be a new floor in gold when it is hit. We have 25% more people on the planet, central banks are buyers now, we have printing presses running around the world cranking out phony fiat currency that are depreciating as fast as they come off the press, and gold production is in a long term down. Look for physical gold to be $2300 before the end of 2012, and gold to be at least $6,000 by 2020. Physical Gold is the only long term Buy and Hold on the planet.

Gold Bubble Bursting, Or Just Another Correction and Consolidation?

The gold bubble price of $2300 ala 1980 in today's dollars will be a new floor in gold when it is hit. We have 25% more people on the planet, central banks are buyers now, we have printing presses running around the world cranking out phony fiat currency that are depreciating as fast as they come off the press, and gold production is in a long term down. Look for physical gold to be $2300 before the end of 2012, and gold to be at least $6,000 by 2020. Physical Gold is the only long term Buy and Hold on the planet.

Gold: Despite Recent Rise, It's Still Under Water

Sometimes people whom are young do not look very far back to learn from history, and what dates are immensely important. 1971 is the most important date for gold in the last 50 years. Gold was $35/oz when Nixon took us off the Gold Standard and last week it was $1218. This dumb old retired Texas Engineer calculates on the average gold is up about 89% a year since 1971. You young fellows over at Global Investor should go back to school to learn about the best long term investment in the history of the world. You just keep knocking Gold lower, so us Texan Boys can keep raking in the POTS.

What Does Bloomberg Have Against Gold?

The only significant reference for gold analysis in the modern world is from 1971 when Nixon took us off the gold standard. Gold up 3500% the other day compared to 1971. That is 92% per year over the past 38 years.
With Obama telling us another 10 Trillion or so in deficits over the next 10 years, not counting the money to be spent on the government takeover of health care, Gold will easily go to $5,000 by 2020. For heavens sake, the dollar will not be around then, or if it is, it will only be worth 10 to 20 cents in buying power compared to today. The only thing we seem to manufacture is $money in the form of printing press dollars. Trouble with that is fewer and fewer people and nations want anything to do with the dollar. Buy gold, that is what other nations are doing. Buy Gold, that is what other nations are telling their people to do. Is America now the only nation on the planet with idiots who think the dollar is not going to default?