Seeking Alpha

Vooter

Vooter
Send Message
View as an RSS Feed
View Vooter's Comments BY TICKER:
Latest  |  Highest rated
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "Wages are very important when it comes to inflation. In truly inflationary environments, they have to go up too."

    Oh, really? Why do they HAVE TO go up? All you need to do is to look at our current situation to know that that's NOT the case. Since about 2005, U.S. wages have stagnated while inflation (not surprisingly) has continued unabated:

    http://bit.ly/1qD38iG

    Why do you think so many people in this country are in so much financial difficulty, Jeffrey? It's pretty simple: Prices continue to rise (no matter what contorted CPI numbers you want to come up with), and people have stopped making enough money to keep up with the rise. The ONLY thing that will remedy that is a lower standard of living and, in some cases, poverty, which is what you're now beginning to see on a large scale in this country.
    Mar 14 12:05 PM | 3 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "When a meaningful percentage of the $45 trillion global economy is using gold as the backing for its respective currencies, I'll start taking that sort of the thing seriously."

    Interestingly, if you divide that $45 trillion by the total number of ounces of gold ever mined (an estimated 6.1 billion ounces), you get a gold price of roughly $7,300 an ounce. Hmmmm...
    Feb 17 01:11 PM | 1 Like Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "I wrote an article in 2011 about how gold was in a bubble and I only got 50 comments and 2,100 pageviews. :-( What did I do wrong??!"

    You forgot that for something to be in a bubble, people actually have to BUY it. How many people do you personally know who own gold or silver bullion? I can count the number I know on NO hands....
    Feb 17 12:58 PM | 3 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "Arguing that most things go down in price over the long run is inconsistent with reality and historical data. Things tend to rise in price over time."

    Who's arguing that most things go down in price??? I've been arguing just the opposite...WTF? But I'm absolutely NOT saying that we have inflation because "Things tend to rise in price over time." That right there is the biggest and--I have to admit--most impressive myth that any government has ever foisted on a gullible public. Inflation doesn't "just happen"--it's not some natural phenomenon, like gravity or light. It's the result of the INTENTIONAL devaluation of a nation's currency by a government that wants to spend more than it has. It's called coin-clipping, and it's been around since Roman times. Inflation is the de facto POLICY of the U.S. government--how else do you think the public is supposed to pay for the government's profligate spending???
    Feb 17 12:32 PM | 2 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "Apple and Facebook may disappear but the US stock market and economy won't."

    How do you know?
    Feb 16 09:17 PM | 2 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "Technology is incredibly deflationary. How do you account for that?"

    But how often do people buy technology?!? I've had my current TV for eight years. I've had my current phone for about four. I have an 11-year-old desktop computer that still works, although I bought a new laptop two years ago. How are the differences in the prices of these gadgets over the course of several or more years affecting my standard of living? Especially since almost EVERYTHING else I buy on a regular (i.e., at least every week or so) basis has gone up in price over the life of my TV, or my computer? Furthermore, why does one of the most technologically sophisticated items that most people own--that is, their CAR--continue to soar in price?
    Feb 16 08:51 PM | 1 Like Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    Where are you NOT seeing inflation? Seriously--as I said before, make a list of everything you can think of that's gone up in price over the last year, or 10 years, or 30 years, and then make another list of everything that's gone down in price over the same period of time. See which one is longer, and then get back to us.
    Feb 16 08:40 PM | 4 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "Remember, their underground vault in downtown NYC holds one of the two large(st) deposits, the other being the vault at Fort Knox."

    Oh, really? How do you know this?
    Feb 16 11:06 AM | 4 Likes Like |Link to Comment
  • Gold And Silver: Are Shorts About To Panic? [View article]
    "The dollar survived the transition from 42 to 420 dollars to the ounce in the 17 years between 1968 and 1985. And it survived an increased of 2000% in the price of gold percent when gold peaked briefly at 800+. Why could not the dollar survive gold going from 250 to 2500 or even 5000[?]"

    You mean gold survived the debasement of the dollar at those various times and by those various percentages, don't you?
    Feb 16 10:55 AM | 12 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "No doubt, certain stuff is getting more expensive. But other stuff is getting much cheaper and offsetting gains in the price level of the whole economy."

    Like what? Make a list of all the things that have gone up in price over the last year, or 10, or 20, or 30 years, and then make a list of everything that's gone down in price over those same periods of time. See which one is longer. Then get back to us.
    Feb 15 11:35 AM | 2 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    You should count your precious-metal holdings in ounces, not dollars or any other currency. Hope that helps...
    Feb 14 10:45 AM | 2 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "Presently our national debt is 3.3% of our GNP. That is about where it was in the 1980's, or so I'm told."

    But what's the ratio of the INTEREST we pay on our debt to GDP? The interest on $17 trillion is a LOT higher than the interest on, say, $4 trillion. In fact, we're now paying roughly half a trillion in interest alone on the national debt. What government revenue is funding those interest payments?
    Feb 14 10:40 AM | Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    If you don't hold it, you don't own it...
    Feb 14 10:35 AM | 4 Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    "The only thing that's really changed since then (or changed MEANINGFULLY) is the value of the dollars denominating that gold."

    Hmmm...and how did THAT happen?
    Feb 14 10:34 AM | Likes Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    Agreed--that's why everyone should take delivery of their bullion. EVERYONE. Make 'em produce it. It's all there, right? :-)
    Feb 14 10:32 AM | 5 Likes Like |Link to Comment
COMMENTS STATS
107 Comments
335 Likes