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filipo

filipo
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  • Gold Bears Are In Control [View article]
    WGC just released 2014 gold mine production figures: up 2% to a whopping 3,114.4 tonnes!!!!!!!!!!!!!!!!...
    Feb 12, 2015. 01:13 AM | Likes Like |Link to Comment
  • Investors Have No Choice But To Own Gold After This Latest McKinsey Chart [View article]
    stat,
    ""best performing" means "pays me income without selling it". "

    Fair enough. You don't have to sell it all at once. Just a tiny little bit every now and then pays the bill and saves your bacon.
    That's what assets are for: you buy them and you sell them.

    Q: you buy a stock to never sell it ? NEVER ?
    Feb 12, 2015. 01:02 AM | Likes Like |Link to Comment
  • Investors Have No Choice But To Own Gold After This Latest McKinsey Chart [View article]
    @filipo,
    There you have it:
    The WGC today released it's 2014 gold mining figures and they are absolutely stunning:
    global gold mine production went up 2% (more than US money supply) to a whopping 3,114.4 tonnes !
    Feb 12, 2015. 12:58 AM | Likes Like |Link to Comment
  • The U.S. Economy Recovers - GLD Comes Down [View article]
    Doug,
    Excellent comments.
    Could be that after all the so-called US recovery wasn't the driving force for lower gold prices, as Lior states.
    First, there hardly is a recovery:
    http://bit.ly/1zcmjq2
    Second, the low gold price probably is related to the stunningly high 2014 gold mine production: it went up an astonishingly 2% to 3,114.4 tonnes, according to the WGC figures that came out today !

    If gold mining is to stay at these record levels, it bodes ill for the 2015 gold price as well.

    BTW, excellent blog you have, it's a source of wisdom.
    Feb 12, 2015. 12:54 AM | 3 Likes Like |Link to Comment
  • Investors Have No Choice But To Own Gold After This Latest McKinsey Chart [View article]
    stat,
    "Buffet, however, loves dividends"

    He sure does, for his own. But his own company BRK.A never paid any dividends. The owners of the stock just had to sell a share every now and then, taking profit from the price increase, exactly the same as with gold.

    Actually, I prefer equities that don't pay dividends and that capitalize the profits: at least then you don't pay taxes.

    BTW, did you know that gold is the best performing asset at a 15 year time frame ?
    http://bit.ly/1zwgxK5
    Feb 11, 2015. 02:23 PM | 1 Like Like |Link to Comment
  • Investors Have No Choice But To Own Gold After This Latest McKinsey Chart [View article]
    stat,
    "Only if you sold your gold, until then they are unrealized gains."

    Correct. If you buy coins or 100g, after a few years, every now and then, you sell a bit.

    "Dividends get paid to me without selling anything."
    Then you never owned Buffett's BRK.A : they NEVER paid a dime of dividend.
    Feb 11, 2015. 12:36 PM | Likes Like |Link to Comment
  • Investors Have No Choice But To Own Gold After This Latest McKinsey Chart [View article]
    stat,
    BRK.A paid me nothing either.
    Feb 11, 2015. 08:55 AM | Likes Like |Link to Comment
  • Gold Bears Are In Control [View article]
    fish,
    Sincere congrats with your marriage.
    It's something we all ought to do in our lifetime at least a few times. It keeps the mind awake.

    Have you tried Sureguard ? They rent all sorts of locker sizes.

    Over here charity shops function excellent, but you have to bring the stuff yourself. And then we have these eco-shops: you bring your stuff, they decide what to take and what not and if accepted they put it for sale and after awhile, when it gets sold, you get a notice and everything is put on your banking account.
    It works stupendo, but it's hard work. When my mother died in 2011 I had 3/4 of her stuff moved to the eco-shop and it took me a year before everything was sold.
    Yes, i-phones sell well. I Always wanted to buy AAPL-shares, but never did: they were too expensive, I had no money, the USD was too strong, there Always was a reason. I regret now. I wonder whether the i-watch will be successful too.

    BTW, have you noticed how uncle Vlad managed to expand his influence in Egypt -delivering kalashnikovs- and Cyprus -they offer him a military base next to NATO's:
    http://bit.ly/1viV9Y1
    And now the Greek Foreign Minister is in Moscow discussing God knows what:
    http://bit.ly/1viV9Y2

    I think US foreign policy is losing grip on the events. Obama thinks that bombing and droning solves all the problems, but other people are of a different idea. French former President Sarkozy over the weekend explicitly said that it is in France's interest to have better relations with Russia than with the US. That counts.
    From the very beginning when Obama started blaming Russia for everything, I thought it was not the right thing to do.
    Feb 11, 2015. 03:18 AM | Likes Like |Link to Comment
  • Gold Bears Are In Control [View article]
    fish,
    "America attracts capital because it exports SO much cash"
    Indeed.
    Meanwhile the EM's feel the pain.

    "we are the only market that can absorb it."
    Like I said: it comes at a price: surging USD isn't exactly what US exporters have in mind.

    And it's even not sure that the strength of the USD will boost US consumption. I have my doubts since these capital flows largely remain in the hands of the 1%.
    Actually, DEC retail sales were bad:
    http://bit.ly/1zcmjq2
    which proves my point.
    The strong USD is not a phenomenon that ensues from a strong economy (US consumption stands for 85% of GDP), like it did during the Clinton-years, but is the result of capital flows.
    They can be very detrimental to the US real economy, even if, as you say, the market can absorb it: today 30YT auction was a success and the yield plunged even further.
    They create bubbles and complacency.
    Feb 10, 2015. 02:38 PM | Likes Like |Link to Comment
  • Gold Bears Are In Control [View article]
    rogro,
    Japan will astonish (you and all those who have been shorting JPY):
    From Mirabaud:
    "How times change. Mere months ago, the Communist Party’s main domestic propaganda tool, China Central Television (CCTV), was plumbing the depths of its thesaurus to condemn Japanese perfidy – from the Imperial Army’s 1937 Rape of Nanking, to present-day encroaching on Chinese-claimed islets in the East Sea, to perennial collusion in American efforts to “encircle and weaken” China, etc. etc. etc.
    So it was amusingly newsworthy that last Friday night (6 February), CCTV broadcast in prime time a special report on Chinese shoppers in Tokyo, celebrating both their consumption of Japanese goods and their journeying to Japan to buy them. [The program was one prelude to Lunar New Year travel.] A CCTV correspondent, mike in hand as Chinese touristscartedtheirloo... “Whatdidyoubuy?” he asked one woman. “Thermos bottles, rice cookers, electric toothbrushes and toilet seats” she answered in a Shandong country accent that suggested she was more used to outhouse than townhouse. As she spoke, the CCTV camera panned across Chinese shoppers lugging Toto brand toilet seats, a pair under each arm, to the baggage hold of their bus. [Ubiquitous in Japan and increasingly common elsewhere in Asia, the Toto toilet seat combines bidet, rinsing and heating functions in one user-friendly electronically-controlled device.]..."
    Feb 10, 2015. 02:20 PM | Likes Like |Link to Comment
  • Gold Bears Are In Control [View article]
    I just went through the latest (FEB) WGC stats and to my astonishment I discovered that Nepal has sold almost all it's gold reserves: some 34 Tonnes.
    They had 36 Tonnes and now they have 4 left.

    The Maoists have been making a mess of the Nepalese economy with rising inflation, economic downturn, poverty, insecurity and uncertainty as consequences.

    So, my guess is that they HAD to sell their reserves to make up for the current account deficits.

    I wonder who bought their gold ? The Chinese ?

    I wonder what the communists in Greece will do, equally sell their gold ?
    Feb 9, 2015. 04:33 PM | Likes Like |Link to Comment
  • Is Gold Losing Steam? [View article]
    ap,
    Even China can't compete with paper gold.
    This won't change before the last oz of gold will have left the West.
    Feb 9, 2015. 03:36 PM | 3 Likes Like |Link to Comment
  • Gold Bears Are In Control [View article]
    rogro,
    "I like pragmatism"

    So do I, that's why I think a default is written in the stars: most nations default as soon as they can present a primary budget surplus.
    They would be fools not to default:
    http://on.cfr.org/1z1LA1j

    Italy and Spain are less indebted than Greece and they are on the right track: unemployment decreases and their economies grow.
    France however is a different matter: they're still in the phase of denial and have to start the necessary restructuring.

    Concerning Japan, you clearly have no clue of the most recent evolution:
    http://bloom.bg/1z1LA1l

    There is another nation though that I'm more worried about right now: the USA: PMI and ISM numbers of Industrial output (15% of GDP) were disastrous, debt keeps on Climbing (>18T), the strong USD kills exports and the stats on the jobs were too nice to believe.
    For the time being however the US succeeds in attracting capital from all over the world and that saves it's bacon. It comes with a price though.
    Feb 9, 2015. 03:29 PM | 1 Like Like |Link to Comment
  • Gold Bears Are In Control [View article]
    gel,
    "you are not buying because you are waiting for Oil"

    ... as are so many:

    http://bit.ly/1z1Ila8

    strong jobs report being the consequence of a lower oil price...
    Feb 9, 2015. 03:14 PM | 1 Like Like |Link to Comment
  • Gold Bears Are In Control [View article]
    rogro,
    You're right.
    Although they're far left, they can't be that naive: be rude to the Germans and expect them to hand over the money smiling.
    Feb 9, 2015. 12:19 PM | Likes Like |Link to Comment
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