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I was planning on buying some gold coins because I only have a few so a drop to 1000 would be welcome :)
Go with .999 products. Easier to sell (no sales tax) over the border in Canada if US market has hickups.
I can imagine if there is a sudden drop to 1050, there will be a physical depletion.
Dont worry about the price, the weight remains the same!
This guy could just be another poison breeding Robert Prechter. We know how HIS calls have done (pfft)
Kass 2009 Prediction:
Gold never reaches $1,000 an ounce and trades at $500 an ounce at some point during the year.
Kass 2010 prediction:
The price of gold topples. Gold’s price plummets to $900 an ounce by the beginning of second quarter 2010. Unhedged, publicly held gold companies report large losses, and the gold sector lies at the bottom of all major sector performers. Hedge fund manager John Paulson abandons his plan to bring a new dedicated gold hedge fund to market.
Kass 2011 prediction:
"Gold will briefly touch $1050.00/ OZ. and should finish the year $150 lower than where it is today.
See a patern - What anus would listen to this shill?
I listen to him. See that's the great thing abount CNBS they don'd post your past predictions, that's why i like going there and Bloomberg. Now don't post my past predictions please!
It's like weather forecasting. You can be wrong almost all the time and somehow keep your job and all of the esteem you've gained for being right some of the time.
Why did God make economists?
To make weather men look good!
We eliminated weathermen in favor of weather bimbos. Economists are no longer required. Washington didn't get the memo
What I am hearing is BTFD
"Since 2004, annual returns averaged around 8 percent"
This number was printed in late 2008 but certainly does not include the collapse that occurred at the time it was penned. Thus, Doug is mediocre.
Here is this dumb fukk's record since September:
Sept 17th "Staring to short the market" (SP is 1125)
Oct 1st "We're about to hit a wall" (SP is 1146)
Nov 8th "The market has hit the TOP" (SP is 1223)
Dec 27th "I am moving to a NET SHORT position" (SP is 1257)
Jan 6th "In cash, waiting to make the big short trade"
Oh really Doug? You stupid lying fukk. That one was a real laugh after seeing every call for the previous three months including your NET SHORT article not a week prior, but here it is...
Jan 13, 2011 "Commodities look attractive".....
I guess after missing the entire short since you're "In cash and waiting to make the big short" the last I heard....
Remember Elane Gazzerely (if spelling is correct). She too had a perfect record for a 6-12 months interval prior to 1987 crash. Her call for the crash was the best! Then, it was all wrong and she never recovered.
Yes, China and Brazil have inflation. They are raising interest rates. So what?
China, Brazil, FED, EU, etc., are still printing fiat money like there is no tomorrow.
China prints more RMB when it raises interest rates in order to keep the dollar peg. Then we get cheaper Chinese import prices.
By Paul Kedrosky · Monday, December 21, 2009
My friend Doug Kass of Seabreeze Partners has out his list of 20 market/political/economic surprises for 2010. These are always fun reading, and he did surprisingly well with his list of 2009 surprises, so let's have a look at the latest list. The only one I think is completely outrageous is the Tiger Woods prediction -- what the hell are you thinking, man?
The man is a fkig clown and a shill.
Doug Kass's 20 Surprises Of 2009
As Doug explains, these predictions are outliers, not events that have a high likelihood of occuring (if they did, they wouldn't be surprises).
Does it really matter? They have been trading a lot more paper gold and silver for a long time now, a lot more on paper that they have physical and the regulatory authorities have given then a wink and a nod. If it wasn't for those bogus ETF's they created as another vehicle to screw around with the metals market, the COMEX would have already blown up. They simply do not have the product to cover the paper shares and options. It is simply criminal what is happnening and nobody will do a damn thing about it. Meanwhile the FED continues on playing their games with QE and purchasing of our own damn treasuries. The whole thing makes me sick. It is quite obvious to me, they are postering now for the next take down.
I agree High Plains. The silver manipulation can go on for at least another 3 years under current production/sales/inventory trajectory. So, don't expect any meaningful change in the spot price manipulation for at least that time frame....because, other than Sprott, I don't see any large money coming in and asking for delivery. That's the only thing that can put an end to the charades sooner rather than later. But it seems like it's all hands off....
Meanwhile, in three years, the marginal buyers--the odd lotters, could very well throw in the towel one after the other--punishing the price to nadirs not seen for awhile.
Why not? You've got a total take-down happening in silver, no one gives a crap, you've got major accumulation taking place at the Mint and in China, Sprott can't get physical in a timely manner.....all of this taking place THIS MONTH, and what has the spot price done?
You're indeed right: the whole thing is sick. Everything.
Barack Obama on bank fraud
The March 120 puts on GLD look pretty good at 67 cents.
21 implied vol.
If gold hits 1050 ($102.48 in GLD), they'll be worth over 17 bucks.
Paper Assets are easier to carry...
All Hail King Tyler!
Yes, this is very good info. Thanks, TD.
It ain't "Fast Money."
Its "Frontrunning Money."
Thanks for nothin.
Every day that gold is cooler than banker products, bankers will attack gold. Ergo, to win the war from the gold side, bankers need to be put down in their constant attempts to force misallocation of capital.
As well, it is a KNOWN that The Blow Horn [CNBC] is a propaganda tool and a frontrunning tool for big market bullies.
You combine these two facts, along with the fact that no one at the SEC or the FCC or the CFTC [and any other agency you might mention] gives a rip about rules, laws, or the integrity of the market...and you get a gold sell off.
Last thing the world banksters want now is the peasants owning gold. CNBC red light district for Wall St will help their glorified used car salesmen in any way they can.
BTW I'd stay far away from gold puts as the article suggests doing, already big ramp in gold puts mean a pool of money bankrupt banksters can snatch away fast. Options on gold....forget it just buy and hold, dont momo trade gold thats not what its for.
The 'peasants with gold' scenario is probably the second to last thing the banksters want. The absolute worst thing for banksters is when the commoners own productive assets or scarce commodities instead of the fiat 'notes.' As the prices on all things rise, the confidence in the paper vanishes and the fun begins. Disclosure- I'm long torches and pitchforks with a garden backstop.
I'm long torches and pitchforks with a garden backstop.
I'm long torches and pitchforks with a garden backstop.
Sweet call, man! I am jealous.
LED hand-crank flashlights, much more efficient and long lasting. Not as effective psychologically in a lynch mob, granted.
Cool thing about this Cdad is it doesnt make me want to sell my gold plated Desert Eagle at all! Buy n hold.
if gold see's 1050.. I will go long in a way that will make the earth move from under any fucking paper traders feet inculding jp. fucking quote me.
You aren't the only one!
Did you head just got bigger?
+ $1350 JW n FL
+ a whole lot more oz if gold goes down that much.
NONE of our financial problems have been solved.
Enjoyed all the firearms commentary w/ you and the Colonel last night.
happy to share with the other fight club members... what ever is palatable enough to go down.
I'm pretty sure gold will go up very soon.
Banks are in deeper shit then everybody expected so there will be a lot of money running out of those this week.
Just look at BAC that has current annual dividend yield of 0.28%!
They run at a mega loss and still they give a div.! HA!
STUPID IS AS STUPID DOES!
Kass..is a Hack!
Some close friends lost a ton of $$ w him in the '90s.
Not such a great track record after all.
he can kass his a** goodbye
Gold is often weak in first quarters of years...So, now gold's enemies are saying that gold is going into a major price decline because it is performing as it has in many years past?
I call bs on this gold decline prediction.
Nothing has changed. Fiat monies continue to be printed to the Nth degree. The banks sitting on rediculously bad assets are still afloat. The Fed is still acting as a prop for many economies...etc.
Gold is still the best money on earth. PMs in general are far superior than any fiat currency. Time will show what is sound money, regardless of how it is priced in various fiats.
One, China, India and Russia don't listen to Kass or CNBC. Every evening, I watch gold and silver go east. Two, I will be first in line at a significant correction.
I don't know about you, but I will take as much time as the elites are willing to give to transfer assets out of FRN's and into real assets. Retirement funds are tricky. That is where you need a real strategy for getting your 401k money out without paying huge fees and taxes.
Hey Tyler, do you know any advisors with some grey strategies concerning the protection of retirement funds from government gropnicrats?
Maybe a bit off the topic. I saw you mentioned the other day the agricultural products in the US are highly subsidized. However, I checked on the USDA website and found that the Commodity Program (the subsidies) in the USDA budget is only around 9 billion USD annually. That's in fact not a lot of money in my opinion. Care to explain? Many thanks.
Even wikipedia places the number of direct subsidies at 20 billion. This does not include other subsidies which include : CRP, Forestry, Soil Conservation, Marketing and farm energy grants. The list is endless- if you caught the latest Republican salvo to cut costs, it targeted the 1 million dollar angora goat subsidy.
Farmers do not just grow corn, soy and wheat. There are subsidies for organic, fruit growers and livestock as well.
" The U.S. government heavily subsidizes grains, oilseeds, cotton, sugar, and dairy products. Most other agriculture—including beef, pork, poultry, hay, fruits, tree nuts, and vegetables (accounting for about half of the total value of production)—receives only minimal government support. U.S. farm programs have cost about $20 billion per year in government budget outlays in recent years. But budget costs are not a particularly useful measure of the degree of support or subsidy. Some subsidy programs, such as import tariffs, actually generate tax revenue for the government but also impose costs on consumers that exceed the government’s revenue gain. According to Organization for Economic Cooperation and Development (OECD) figures, the average rate of “producer support estimate” for the heavily supported commodities in the United States ranges from about 55 percent of the value of production for sugar to about 22 percent for oilseeds. For the less-supported commodities the rate is typically below 5 percent."
The problem, in my mind (and I am a Farmer), is that these are your tax dollars. They are forcibly taken from your wallet and then dispersed-more often than not, to large corporate farming operations.
Sean7k - I always enjoy your posts. Didn't know you were a farmer. Full-time? What crop? What region? Not trying to get specifics. In the back of my mind, I want to be in farming over the next few years, likely starting by leasing the land. So, I'm just curious about these things. If you choose to respond, thanks...
Actually, Russia is planning to buy half as much Gold in 2011 as they did in 2010.
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