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  • 12 Gold Bugs Bring Christmas Cheer [View article]
    Are you sure about your calculations? You're using troy ounces and not avoirdupois ounces right? By my calculations at $1660 an ounce it's over 6 troy pounds of gold per day, just over 5 avoirdupois pounds. Anyway, it certainly is a problem! (I'm sure Obamacare will fix it--lol) What about a year at Harvard costing $55,000? Or a fancy boarding school that charges $50,000 a year? These schools claim it actually costs them much more to "educate" them, around 70k. Is this an education problem? Just wait until you have to pay 100k a year for your child to go to college. Maybe it will cost 250k a year? It's funny money time. Or consider the decidedly less fancy prison system that costs tax payers 40k to 60k per inmate per year. Is this a prison problem? Our government is in the hole a titanic 16 trillion dollars, over a 60-100 trillion dollars (funny money time!) when unfunded liabilities are considered. Or is it just a government problem?
    Dec 24, 2012. 01:29 PM | 1 Like Like |Link to Comment
  • 12 Gold Bugs Bring Christmas Cheer [View article]
    A friend of mine spent 4 days in the hospital because his heart wasn't functioning properly. The bill was a stupefying $500,000. (Yes, our healthcare system is broken.) My friend has insurance, but his jaw hit the floor nonetheless. Now, what does this tell you about the shabby state of the US dollar and the phony CPI figures? It's not gold that's overvalued Mr. Walters. It's the dollar! The dollar is moribund, the walking dead, a debauched piece of trash.
    Dec 23, 2012. 09:39 AM | 1 Like Like |Link to Comment
  • Fed Policy Decision Is Key For Gold And Silver This Week [View article]
    fishfryer is being sarcastic, presumably to draw a contrast between old fart's comment and every day reality. i happen to agree with ff and yourself. my neighbor bought his house in 1965 for $1500. he now pays nearly that much in taxes each year. the cost to go to harvard for the year 1966 was around $3000. now it is a staggering $55,000. it's much easier to see the deterioration of the dollar over a longer period of time.
    Dec 10, 2012. 09:59 AM | 4 Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    I was being sarcastic.
    Nov 5, 2012. 02:40 PM | Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    The author wrote, "Greece has come close (to collapsing) but was rescued, and strangely enough, it was rescued by issuing more debt." Strange indeed! So too are QE ad infinitum, operation twist, ZIRP, negative real interest rates and "sterilized" bond purchases (wow, these things sound exotic even). Everything is fine! The experts are on top of this. Just drink a few beers and go back to sleep for a year or two.
    Nov 5, 2012. 09:55 AM | 3 Likes Like |Link to Comment
  • How Gold Investment Hurts The Economy And Becomes A Self-Fulfilling Prophecy [View article]
    Mr. Walters, have you considered the following?
    1) Gold bullion in private ownership was confiscated in 1933 in this country by FDR. In effect gold was nationalized and hoarded by Uncle Sam. It was not until 1974 that citizens could buy gold again. The gold price was fixed at $35 an ounce. This would account for gold costing the same in 1950 and 1960. The price of gold certainly would have been higher if traded/bought freely during those decades.
    2) The gold market today is world wide. The bull run of the late 1970's was not. Thus many more millions of people are now able to purchase gold. I would take this into account before claiming that we are in "a massive bubble valuation", especially when other currencies are being debased.
    3) Much of the 9 trillion dollars worth of gold on the planet you mention is already spoken for in the form of jewelry and central bank holdings. Thus the dollar figure for people to invest in gold is substantially less than that. Compare the size of the gold market with the stock markets around the world (30-40 trillion dollars) and the world bond market (70 trillion dollars).
    4) Ordinary people buy gold because they've been humiliated or pauperized by the stock market crashes and real estate collapse. Because they cannot get a decent return on their savings in a cd or money market. Because they realize that the social security trust fund has been sacked by greedy politicians. Because they read the papers and not stock charts and cannot find any good economic news on the horizon anywhere.
    Oct 8, 2012. 03:42 PM | 2 Likes Like |Link to Comment
  • Marc Faber Warns: Store Your Gold Overseas [View article]
    The author neglects to mention James Turk's
    Sep 19, 2012. 05:37 AM | 1 Like Like |Link to Comment
  • Gold Might Be A Good Trade, But It's A Poor Investment [View article]
    Your comment has a cuteness factor I admit. Good for you sir. But as commentary it is worthless rambling. I see you get your shot in on Bush Junior--still hung up on him huh? I don't see why. Bush was a big spender and expanded government considerably. Pretty typical liberal/progressive/big government guy. As a liberal yourself, I assume you voted for him at least once. (Here's a little secret: Bush's tax cuts had nothing to do with the burgeoning deficit. It had everything to do with massive spending--most republicans are big spenders just like democrats.)
    But to be serious for a second, people who buy gold do not worship it as you say. Ridiculous! You made that up. People buy it for practical reasons. It is a play against the arrogance and stupidity of central governments and bankers. If you are in their corner, good luck.
    Aug 20, 2012. 07:56 PM | 1 Like Like |Link to Comment
  • End Of An Era For Gold Investors [View article]
    The author writes, "unlike other assets, gold has no intrinsic value." I am sure he meant to say something different because on its face this is flat-out false. Otherwise, there would be a lot of gold rings, coins and necklaces thrown in the garbage. The truth is physical gold is practically hoarded, clung to like grim death by the wealthy and poor alike all over the world.
    Aug 3, 2012. 07:53 PM | 9 Likes Like |Link to Comment
  • Halliburton Is Excitingly Cheap, But An Even Better Entry Point May Await [View article]
    Thanks for the article.
    Jul 17, 2012. 07:27 PM | Likes Like |Link to Comment
  • Why Buffett Is Dead Wrong On Gold [View article]
    What is this either/or business? Either all stocks/farmland/etc./ or all gold. How about both? Very few people are suggesting that you place your investing future solely in gold. Yet there are lots of folks who say no gold whatsoever. Buffet seemed to go out of his way to denigrate gold and insult gold bugs, which seemed to me to be odd. Then when his creepy henchman, Munger, said the same thing, I thought it doubly odd. Gold is a hedge against debt laden countries, central planners, and a corrupt banking industry. It is a hedge against inflation. It is money. It has no counter-party risk. It is the ultimate barter item. Put a portion of your savings, whether 1% or 20% in physical gold and forget about it.
    Incidentally, Buffet's hypothetical regarding choosing one pile over another is fantastical and silly. He'd never make it in a logic class. The choice should be: to own some gold or to not own some gold. To me the answer is obvious.
    Jul 17, 2012. 06:33 PM | 2 Likes Like |Link to Comment
  • Gold Looks Terrible Part III: The Mass Capitulation Thesis [View article]
    Good point Plebian. I read about this so-called investigation of silver manipulation recently (see Adrian Douglas). After four years, at the least the CFTC could put out a whitewash conclusion to put an end to it. The ongoing silence is either a sign that this agency is incompetent and inefficient or something much worse.
    Jul 9, 2012. 06:04 PM | 1 Like Like |Link to Comment
  • Gold Looks Terrible Part III: The Mass Capitulation Thesis [View article]
    I read as many anti-gold or short gold articles as I can. This is to challenge me as an investor of gold to see if I've made a mistake. I am not a trader though and the author is so I don't think the goldbugs should pounce on him for bearish sentiment in the short term. After all, there is plenty of it out there. However, I think his "gold as religion" angle/theme is rather strange and misplaced. If anybody is religious in the investment community it is the stock holding/trading, warren buffet worshipping crowd. I had my money "managed" for 12 years and their religious mantra was 100% stocks. US stocks, european stocks. Stocks and more stocks. Their idea of a "diverse" portfolio was large cap vs. small cap stocks. Not a whiff of gold or silver or bonds or any alternative investment. I got my head handed to me. My investing friends have scarcely considered gold as a hedge let alone a serious investment. So while gold has performed like a champ these last many years as the stock market has gone sideways I still hear the same thing: Gold is risky, speculative, dangerous, maybe even stupid and "barbaric". But by all means buy stocks as if your life depends upon it.
    Jul 8, 2012. 11:38 PM | 7 Likes Like |Link to Comment
  • $10,000/oz Gold And The Money Supply [View article]
    greenworld, I take your point. If you can buy farmland and lumber I don't think a gold bug would dissuade you from doing so. Or stocks for that matter. What bothers me (and I am sure I am not alone) as a gold holder is the absolutists--no gold whatsoever! That my friends think I am crazy for buying one ounce of gold puzzles me to no end. Hence the emotional response. They urge me to convert to cash or buy a stock. That is, not one cent in gold! I own stocks. I own real estate. I own corporate bonds. And I own gold (and silver). Everyone, in my view, should hold a small percentage of their cash in gold. Perhaps 1 to 10 percent. If you are more worried about macro affairs maybe 15 to 20%. You shouldn't leverage yourself nor should you trade it unless you know what you're doing. I have a friend who has 250k cash in a safety deposit box. I told him he ought to buy a few gold bars with the money just in case. He told me I was a fool!
    Jul 3, 2012. 10:11 PM | Likes Like |Link to Comment
  • Gold: The Worst Inflation Hedge Ever [View article]
    Forget inflation for now. As others have said that's only one reason to buy gold. I think you have to ask yourself a question before anyone dismisses gold, the "non-producing asset". Do you have confidence that our political leaders and central bankers will solve our financial/fiscal problems? I am talking about the massive debt loads of western sovereign nations, miniscule growth, mounting deficits, and high unemployment. For me the answer is I do not--just the opposite. In my view, buying and holding (not trading) physical gold and silver is not only a reasonable purchase but also an obvious one.
    Jul 2, 2012. 10:18 PM | 2 Likes Like |Link to Comment