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  • Deflation and the Dollar [View article]
    Exactly. What the hell is the author on? How can he get away with these blatant lies?
    Nov 24, 2010. 12:09 PM | 4 Likes Like |Link to Comment
  • The Gold Standard Is No Silver Bullet [View article]
    Monetary systems can not and should not be used to try to manipulate employment rates. The Soviets tried that, and succeeded. Everyone had a job. But everyone was also broke. You have to understand that good aren't produced by blind effort, nor is the point of living in this world to produce blind effort. The reason for work is to produce goods. Money has nothing to do with it.

    You want higher employment rates? Get rid of all these foolish government regulations. There are plenty of jobs available, but many produce less marginal gain for employers than the cost of minimum wage+regulatory compliance, or there are just huge costs associated with regulatory compliance, making the business non viable to start with.

    The gold standard is a means to restrain government spending. It worked SPECTACULARLY in that until it was abandoned, the mean government budget was about 2% of GDP. This is as opposed to what, 40% today? Are we really twenty times better off than our great grandfathers were? I don't think so.

    Further, I don't know exactly what planet the author is living on, but inflation is running rampant. Indeed, if it weren't for the Dollar-Yuan tie, we would be seeing much greater inflation here than they are seeing in China (where they have 10+% inflation because they confiscate every dollar that comes into their country in exchange for Yuan at a fixed rate, they then lend the dollars back to us--essentially everything we buy from China is going on the US government's credit card). They have seen lesser rates of inflation that we would because their population is so much larger than ours. And even with that peg in place, food commodities have still DOUBLED in the last few months. Oh,but wait, food isn't included in the CPI. Apparently government bureaucrats and the author survive by eating widescreen televisions.
    Nov 17, 2010. 08:50 AM | 5 Likes Like |Link to Comment
  • How to Profit From the Bursting of the Gold Bubble [View article]
    How to profit from a burst in the gold bubble?

    Simple, go all in on a triple short ETF.

    Of course, in reality, shorting gold will do nothing but bankrupt you, but hey, when you can't read the winds of change, even as they are blowing your house down, I guess you get what you deserve.
    Nov 16, 2010. 01:00 PM | 7 Likes Like |Link to Comment
  • Silver Gets No Respect [View article]
    That might be enough to supply one television producer for a few months. Once it's used it's gone. There isn't that much available. If the manufacturers are relying exclusively on private hoards for their supply, you can bet on the price doubling gold within a few days.

    Luckily for them, there are a lot of silver mines out there. Unfortunately, they only produce about half of what we use now, and silver use in industry is inflexible--they don't care if they have to pay five times the current price, since they only use a 20th of an oz in a given product.

    And no, people were NOT lining up to sell. I'd like to see you prove this baseless assertion. But you can't, because you were in diapers at the time.
    Nov 5, 2010. 09:29 PM | 12 Likes Like |Link to Comment
  • Silver Gets No Respect [View article]
    You don't know your history. The Hunt Brothers used margin in an attempt to corner the market. What broke them was a post facto rule change that was illegally allowed by the government that greatly increased margin requirements, which forced them to liquidate what they had bought. That, combined with the high interest rate imposed by Volcker, was enough to shake confidence in metals, and restore faith in the dollar...until now.
    Nov 5, 2010. 09:22 PM | 19 Likes Like |Link to Comment
  • Silver Gets No Respect [View article]
    SLV is not a commodities position any more than a still life painting of fruit is fruit. Beware that the counterparty on SLV is JPM, who is currently being sued under RICO. If it is proven that they don't have the silver they claim to have, SLV will evaporate while physical silver goes vertical.
    Nov 5, 2010. 04:49 PM | 25 Likes Like |Link to Comment
  • Silver: Strong Demand for Poor Man's Gold [View article]
    Hey, bring on the manipulation. The lower they can drive the price, the more physical I can buy. Sadly, it looks like the folks at APMEX and elsewhere are catching on, and have jacked up their premiums. I used to pay an extra $2.50 to spot for eagles, but now that is the price for Buffalo rounds. Looks like Tulving is all that's left as far as cheap silver is concerned, but you've got to buy quite a bit to get those good deals.
    Oct 27, 2010. 01:30 PM | 2 Likes Like |Link to Comment
  • Gold Is Not the Bubble - Apple Is [View article]
    It's being pumped by the Fed 2-3 times per week via POMO. I wouldn't touch it with a ten foot pole, either on the long or the short side.

    Gold is a hedge against this currency madness, but there is a huge amount of manipulation going on in this market as well, though it appears to have been mostly to the downside, and has been braking down over the last few months.

    As such, I would buy gold and silver (and I am), but ONLY physical in my possession. Anything else introduces counterparty risk, and the counterparties are the big banks, who are much more likely to be let off the hook rather than forced to obey the law.
    Oct 21, 2010. 09:05 AM | 7 Likes Like |Link to Comment
  • COT Signals Short Squeeze in Silver [View article]
    By whom? Everywhere I have read said that we are running out, or on the verge of the point where consumption exceeds current supply+production. Since consumption is something like 200m oz/year, 150 million seems about right to me. I have never seen anything saying the total inventory was around a billion, except articles from back around 2000.
    Oct 14, 2010. 11:57 AM | Likes Like |Link to Comment
  • When Will Gold Reach $10,000 an Ounce? [View article]
    Nice handwaving bullcrap there. DeBeers was able to become a cartel because diamonds don't occur in a lot of places and, contrary to popular belief, they do NOT last forever, so there aren't a bunch of them around. Gold is mined all around the world, and the amount mined is tiny compared to the amount held in the vaults of central banks and in private hands.

    Nice try though. I guess next time you could always pull out the old "you can't eat it" argument.
    Oct 11, 2010. 08:59 AM | 2 Likes Like |Link to Comment
  • How Gold ETFs Are Killing Gold Miners [View article]
    Wow, interesting point.
    Oct 8, 2010. 05:05 PM | 3 Likes Like |Link to Comment
  • James Altucher: Gold - Just a Fear Metal [View article]
    I see. Numbers change when you get big, I guess.
    Tell me, how is the US army going to force people to transact in dollars? Talk about an exercise in futility.
    Oct 6, 2010. 04:35 PM | 6 Likes Like |Link to Comment
  • Jim Rogers Sees Gold Cross $2000; My Contrarian View on Silver [View article]
    How's that silver short doing for you today, Dan?

    I kid, I kid.
    Oct 5, 2010. 03:58 PM | 4 Likes Like |Link to Comment
  • Are Gold and Silver Overbought? [View article]
    A ponzi scheme destroys the capital that goes into it. Gold is by definition NOT a ponzi scheme, because the gold doesn't go out the back door to pay for Charlie's new yacht and/or caribbean island. The gold remains.

    That is, unless you are investing in paper gold products, in which case, yes, it likely is a ponzi scheme.
    Sep 29, 2010. 03:30 PM | 2 Likes Like |Link to Comment
  • Are Gold and Silver Overbought? [View article]
    Debt money (expressed as M3) is deflating. Real money (expressed as M2) is rising FAST.

    What the net of this is is that anything that is bought with debt, like houses, cars, bigscreen TV's, etc, will and are going down in price. Things that are bought with cash, like food, fuel, gold, silver, etc, are rapidly rising in price. Indeed, commodity foods like soybeans, rice, wheat, etc, are rising at such a fast clip that it is on the border of hyperinflation (60% rise over the last quarter--two more quarters like that take you over the generally accepted 400% limit between inflation and hyperinflation, three more quarters gives an annual rate of 650%).
    Sep 29, 2010. 03:26 PM | 2 Likes Like |Link to Comment