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  • Still Interested in Getting Physical With Gold? [View article]
    I believe the option for these funds to allow receiving of physical gold isnt meant so much for the everyday investor, as it is an insurance policy against fraud by the fund intself. At the end of the day its a check and clear verification that they hold actual physical gold. Unlike some other very gold ETFs we know.....
    Nov 5, 2010. 10:34 AM | 20 Likes Like |Link to Comment
  • Gold Fails 3 Times [View article]
    If you like this article, you may like the author’s previous articles:

    Gold Bubble: Final Warning? - Date: 11-10-10 Gold price: 1390.50

    Is TV Signaling a Top in Gold? - Date: 12-8-10 Gold price: 1385.50

    How ETFs Have Spurred the Gold Bubble - Date: 7-25-11 Gold price: 1613.50

    Unemployment Picture Points To Gold Bubble – Date: 10-17-11 Gold price: 1682.00

    Gold's Technical Picture Is Broken; Collapse Coming – Date: 6-25-12 Gold price: 1570.00

    Today’s gold price: 1659.00

    Chartprophet: How does it feel to be completely wrong? Because it looks pretty bad…. You should probably change your name.
    Jan 8, 2013. 12:52 PM | 19 Likes Like |Link to Comment
  • Gold Looks Expensive [View article]
    “I'll even take it a step further. It's not even particularly desirable for currency to be a store of value, or even worse if it appreciates, because, then, people tend to sit on it, even hoard it, rather than exchanging it for goods and services or making investments with it, none of which is good for any economy.”

    This is such an incorrect fallacy that generations of smart people have some how fallen for. Where do you honestly think most people would “hoard” their money if it was increasing in value? In the bank… Where do you think real savings comes from that then leads to investment? It’s not magic. It comes from people under consuming, saving their surplus and someone else borrowing it to make productive investments. Which countries in the world are experiencing the highest growth rates? > Those with the highest savings rate because it allows them to invest more.
    Nov 27, 2012. 10:32 AM | 15 Likes Like |Link to Comment
  • Leonard Melman: Are You Prepared For Hyperinflation? [View article]
    User 6707651,

    There is an easy answer to your question, think of these two scenarios:

    1) You found out there a was a shipwreck off some coastline which are you familiar with and can easily get to which contained numerous tons of gold bars.
    2) You found out there was a shipwreck off some coastline which you are familiar with and can easily get to which contained a few hundred million Prussian francs (thalers) in their paper form, which at the time was of equivalent value to that same amount of bold in scenario #1.

    Which would you put effort into salvaging and which would you completely ignore?

    Why does the gold still have value after all these years but the long dead fiat currency doesn’t? It’s called intrinsic value. Gold has several properties based on its chemical composition. It doesn’t decay, tarnish, or lose consistency over time, it’s hard (but not impossible) to counterfeit, it can be easily divided when needed, its rare in the Earth so it’s valuable in small amounts, and it’s easily recognizable. No matter how much you hate gold or dislike it, your emotional stance toward it will not affect its placement on the periodic table of elements giving it the atomic number 79 which for whatever reasons based on the physical laws of our universe, give it the above properties. This is intrinsic value - value that comes from its own physical properties, not value that comes from an artificial construct of some parliament or government ordering people to value it.

    Disliking or not having faith in gold will not take any of these physical properties away. Enough people disliking fiat money though can make it worthless. This is why you cannot spend Prussian francs anymore.

    Just like when you build a house, you need the materials you build it with to have certain properties, which are ideal for house building. Same with money. Whatever “thing” you are using as money needs to have certain properties suitable for this use. Oil wouldn’t be a good money because it’s hard to transport, you would need a huge truck to make a large purchase with it, and it can easily blow up in your face. Now, I’ll let you determine the flaws of using paper or digital 1’s and 0’s for money given my above analysis… I think if you put some thought into it you will come up with quite a few.

    In reality only a few materials on this earth have shown they have the physical properties suitable to be consistently used as “real money.” This is why time and time again, people gravitate toward those materials which have these properties.
    Mar 7, 2013. 01:53 PM | 12 Likes Like |Link to Comment
  • Department of Labor Gaming Its Unemployment Figures? [View article]
    "Well, I could hire two people here, or I could hire five people in India. What should I do?"

    You realize this has been the case forever right? But in the past those two Americans with better skills and supported by capitol investments could out produce many more times the number of people hired abroad. So it was worth it to hire them.

    That is not the case anymore. If I had a small business and was choosing between hiring 2 Americans with liberal arts degrees who got pumped out of an education system that is like number 20 in the world, or 5 Indians with engineering degrees and who were as smart as heck, I go with the Indians in a heartbeat.

    Social responsiblity? Why is subsidizing two overprivledged art history majors more socially responsible than giving 5 hard working people in a developing country a chance?
    Dec 30, 2010. 01:10 PM | 12 Likes Like |Link to Comment
  • Whitney Tilson: Why We're Short Netflix [View article]
    This is a key aspect the author missed.

    I cut my cable cord over 5 years ago and have had netflix ever since. Even as i find myself using Hulu and other services more, I never once thought of canceling netlix. The other services seem to compliment, not compete with them. Plus the "latest and greatest" films the author touts as key are many times quite frankly, crap. I like all the indie movies Netflix has for such a bargain price.
    Dec 17, 2010. 09:57 AM | 12 Likes Like |Link to Comment
  • Attention PermaBears, The Chance Of A 2012 Recession Is Zero [View article]
    Your writing style reads like a cheerleader for failed Keynesianism.

    I don’t know if there will be recession in 2012 but I’m surprised adult people still believe in zombie-like fashion everything they are taught in their econ 101 course like you do apparently do. The fact that you are even using the totally flawed GDP formula “GDP = Consumption + Investment + Government + Net Exports,” tells me a lot. You realize that based on this formula a natural disaster is good for GDP because it means there is more re-construction? It also means that if the government decided to spend $1 trillion on a mega air craft carrier, lets call it the USS Paul Krugman, which would add nothing to productive capacity that this would also raise GDP. Hence the fact that you are using this worthless formula for anything beyond pure entertainment pretty much kills your analysis. Even your spiel on investment spending seems to lump “building a house” as an “investment.” Seriously? You actually think a new McMansion helps the long term productive capacity of our economy?

    Your article reminds me of a joke: A priest and a rabbi and an economist are trapped on a desert island. The priest says: “let’s focus on surviving, we need to work on hunting and fishing.” The rabbi says: “no we need to focus on letting people know we are so they can rescue us, let’s make a big smoke signal and write gigantic letters in the sand.” The economist says: “let’s assume we have a boat.”

    Your article basically starts with the assumption that this economist in the joke makes, then tries to actually construct an entire analysis around a serious of faulty assumptions. Sigh….
    Aug 6, 2012. 03:52 PM | 11 Likes Like |Link to Comment
  • How the U.S. Once Prospered by Debasing Its Currency -- And Could Again [View article]
    Its a bit of a stretch to say the turnaround then was the result of debasing the currency. Your article doesnt exactly make much of an logical argument for why debasing currency makes things good, you just say it does, so we should do it again. Perhaps sales of jellybeans went up that same year, so maybe those were the cause of the growth? You do realize coorelation doesn't equal causation right?

    To quote you when you reference with "people with a long interest in monetary policy," Im curious their take on what went wrong then for Germany in the 30's, or Zimbabwe, or Argentina. Why didn't they print themselves into prosperity?
    Nov 26, 2010. 02:00 PM | 11 Likes Like |Link to Comment
  • Why Gold Bulls Need To Temper Their Emotions [View article]
    The fact that you wrote an entire article in response to someone's comment on your article seems to suggest you are the one taking this to an emotional level.

    Funny how tech stock promoters in the 90's weren't considered irrational when they were predicting things like the Dow at 30,000. Or that real estate cheerleaders in 2006 weren't frowned upon when they predicted that prices would keep rising by 10% annually indefinitely. But if you make predictions for gold, well then you are considered "emotional."
    Aug 8, 2012. 02:51 PM | 10 Likes Like |Link to Comment
  • Zero Percent Withdrawal Retirement Plan [View article]
    I concur whole heartedly with this strategy but my question is: why wait for retirement? (in the traditional sense)

    Instead of working for 40 years to try and amass a principle amount around in the 1 to 2 million dollar range just so you can live out the last years of your life in your 70’s without withdrawing any principle here in the US, do what I am doing instead. Aim for a more modest 200 – 300k amount but in a regular non-IRA non-401k brokerage account. If you can keep your approx. 8.5% yield then that amount annually off of 200 – 300k in principle will allow you live comfortably and happy for the rest of your life in numerous developing countries around the globe who have a cost of living well below the United States or Western Europe yet are still very nice places to live. That 8.5% yields you an annual income of around 17-26k a year. You can live a middle to upper class lifestyle in Thailand, Costa Rica, many of the Eastern European nations, and many others. You can even take up some fun part time job that you actually want to go to, and thus that modest amount of annual dividend income stretches even further.

    Anyway I am in my early 30’s and about halfway to my goal on this which I hope to reach before I’m 40. Of course I have spent time overseas, speak a second language that numerous countries use, and have friends and relative in multiple countries so it’s easier for me to do. But still in all those countries I named there are growing expat populations who are doing just this. For anyone else my age or younger (or older), don’t relegate yourself to four decades of working just so you can retire to an old folks home in Florida and have a few years of real freedom when you are in your 70’s. Think on it…
    Jan 25, 2012. 03:49 PM | 10 Likes Like |Link to Comment
  • A slide in commodity prices turns into a rout: GLD -3.2%, SLV -4.2%, USO -3%, Copper (JJC) -2.2%. At $1,506/oz., gold is threatening a $1,400 handle for the first time in nearly 2 years. After an early bounce, stocks move to session lows, the S&P 500 -0.7%. The long bond gains three-quarters of a full point, its yield down to a 2013 low of 2.93%. Update at 11:05: Now off 4.3%, gold slips below $1,500. [View news story]
    Yeah austerity sucks! Who are those anti-austerity advocates to tell people like Macro that he shouldn't be able to enslave the next three generations of unborn children to financial indentured servitude in order to pay for current consumption now. How dare they! Down with austerity! Up with passing the buck to our kids!
    Apr 12, 2013. 12:16 PM | 9 Likes Like |Link to Comment
  • Short Gold As The Economy Gets Better, $1,400 Price Target Likely [View article]
    I second this. Not sure how borrowing money from china to spend and creating it out of thin air to spend somehow equals economic growth. If it were that easy every country in the world would be a paradise.
    Apr 1, 2013. 04:13 PM | 9 Likes Like |Link to Comment
  • Don't Fight The Fed: Investment Strategy For The Coming 'Unwind' [View article]
    Semp hit the nail on the head. Our economy and government finances are on life support right now with $1 trillion a year in Fed purchases. If they stop doing that, the whole ponzi scheme comes crashing down.

    There is no way the Fed can unwind.
    Mar 28, 2013. 03:53 PM | 9 Likes Like |Link to Comment
  • Is Sandy Weill Right? [View article]
    Well Sandy sure seems like a hypocrite now doesn’t he?
    Jul 26, 2012. 03:44 PM | 9 Likes Like |Link to Comment
  • Eric Sprott's Gold Analysis Deconstructed: What The Gold Bulls Still Don't Get [View article]
    The author is quoting CBO??? HAHAHAHAHAHAHAHAHAH

    Back in 2001, the CBO projected a $5.6 trillion budget surplus, and $3.1 trillion on-budget surpluses for the next 10 years.

    Seriously dude? Hey Mike Williams I have some pristine rain forest/beach land to sell you in Arizona. Send me a message we can work out a price. You'll have to send your funds through my intermediary in Nigeria though. Don't worry he is legit though.
    May 2, 2013. 10:13 AM | 8 Likes Like |Link to Comment