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Perhaps it is time for Doug Kass to reevaluate his "gold to triple digits" thesis?
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+666
Well truont and snowball, maybe...
I think India was the event that put the floor in with their India Put (at around $1040) a couple of years ago. Gold gets back down that low, physical buyers come in real big time.
Dow, another story... But, I have been both blessed and BURNED in stocks and ETFs...
Time will tell.
Gold popped almost 1% yesterday early, then fell back later (?).
Gold may not be edible, but this 10 year bull run sure tastes sweet!
Everywhere in the world inflation is going up like a apollo rocket.
By June, everybody with a little bit of money will try to run into precious metals.
Doesn't qe2 end in june? I can't remember and I am too lazy to look it up. I might consider getting out of pm's by june. I think a deflation scare is in our future. there is no way to initiate qe3 without it.
Let me get Liesman's take before going all in
but but but, i called THE generational low back in early 09' so i can now die a self righteous bsd
what the fuck is goin on with the metals today???
the swings r stupid...30.53 to 30.96, now down to 30.76 n Silver...
what the hell???
We're witnessing all-out war. If silver closes above 31.09, Blythe will need vaginal and anal reconstuction surgery.
I doubt it will happen, but it sure is fun to watch...
The prices, not the surgery...right? o.O
badump chink! Good one! You got me! Thanks for the chuckle!
C'mon over Kaiser. You need to be brought up to speed.
Today is an extremely important day.
It is being shown today that Blythe is actually losing control. This has very significant implications.
http://tfmetalsreport.blogspot.com/2011/02/blythe-is-in-house.html
Turd -
i read u every morning...cant post comments to ur site for some reason cause i dont utilize any of the social network devices in the options drop down box...anyway, how is it she's losing grip when she can take Silver from the open of 30.77 down to 30.28, then fight off a spring to 30.96 to level it back down below the open??? im just sayin....
btw - im a huge fan of urs....
Is it safe to read Denninger's blog?
http://www.youtube.com/watch?v=WCwWfSYBwOQ
Well, I hardly ever go to Karl's site anymore; I got tired of the "piling-on" by the regulars. Anyone with a contrarian-view is going to get it and I just got tired of reading the abuse, day after day.
And the little flags, teddy bears, stars, and what-not under each poster's avatar..... :/
I ALSO GOT TIRED OF THE ALL-CAPS, ITALICS, AND UNDERLINING ESP IN BOLD TYPE THAT KARL HAS GOING ON IN HIS POSTS. Tiresome.
~Misstrial
Why is this move so significant? It doesn't seem like that big of a move
I will stick with the stuff fleeing dictators fill up their suitcases with. GOLD.... dont flle the country without it !!!!!!!
Mr. Kass runs Seabreeze Partners Mgt. and is known for timely accurate market calls in the past. Here is what he said about Gold for 2011. “Gold will drop $250.00 in a span of four weeks” The reasons for his bear stance are simply that rising interest rates will cause money to flow out of the metal as a hedge and into higher returning assets. His reasons are logical and represent a growing contingency of managers that think many economies are doing better. China, Brazil and others are raising rates to battle inflation. This would reduce demand form these countries for Gold as a hedge. We don’t necessarily agree, thinking that the U.S. cannot follow their lead, the result of which just means a weaker dollar. Hence gold remains firm in dollar terms. But his track record speaks for itself.
He closed by stating “Gold will briefly touch $1050.00/ OZ. and should finish the year $150 lower than where it is today.
He seems to forget that interest rates had to rise from 10% to 20+% in 1979-1980 to stop the gold bull. Does he really think a rise from 0 to 2.5% is going to do it this time, when the fundamentals are so very much more bullish for gold? Or does he think that the Fed will murder the US government by raising interest rates to the point that the interest on the national debt will be 20X GDP?
Personally I hope so. It will make me feel better for selling my gold and putting it into uso and ung. Wait...I mean losing it, at least the physical. Darn boating accidents.
Yeah, I sure do read a lot about those boating accidents. I will be REAL CAREFUL next time I take my PMs out there...
Just wondering if anyone has checked out this dude's site (no junk intended)
http://danielamerman.com/
His assertion is that gold, after paying the taxes on your gains, is not going to preserve your wealth at all. I don't know what his 'solution' is- just wondering if anyone has looked at his course or not.
taxes ? on gold ?
oh, oh, yeah... right.... THOSE taxes.
Sadly all the physical gold and silver I ever bought has always been lost in boating accidents. I don't know why I never learned from my mistakes.
I lost all my records crossing a river in Guatemala back in the early 1980's, I reported this to the IRS and they hounded me year after year for over a decade. That being said, I keep my PMs with me everywhere I go on land, sea and air. I hope I don't have a boating accident.
If gold is "sold" for currency then that may be correct but if it is used as currency to buy food, fuel, machinery, property, what is the tax on something that is valued on the U.S. govt. books as $47/toz?
Gold & silver Eagle coins are exempt from taxes on resale by the IRS.
Unique to those coins only. Buffaloes are not included in this special tax status.
~Misstrial
His assertion is that gold, after paying the taxes on your gains
There is the immediate problem with his thesis statement. If it ever becomes time to actually use the gold and silver you have put away the LAST thing you will do is operate with it under the non-shadow economy.
That being said I have no PM's whatsoever.
well then I'll just diversify into cocaine, because sales of that aren't taxed, right?
Two words for daniel: money laundering. It might surprise people that there are hundred-billion dollar economies out there selling things that are illegal to possess, stolen merchandise, hell, even PEOPLE.
I'm not sure that if there's a megainflation that anyone is really going to be caring that much about taxes; just borrow the money you need to pay them.
Dougie likes the adage Dress British, think yiddish.
Well, old boy, you have some gefilte fish on your Burberry.
LOL!
Russell also added:
“Moving averages are often useful in technical analysis. For instance, here's a picture of daily gold fitted on a 150-day moving average. This 150-day MA is interesting, because it has provided support for gold on every decline going back to March of 2009.
Most recently, gold has again touched the 150-day MA, and again gold has bounced off this MA. We look for change. Will the 150-day MA hold again, or will it be different this time? If the MA holds again, it will be another triumph for technical analysis by way of the 150-day moving average.”
The crowded fiat-powered gold trade.
Gold bugs about to get squashed Dump gold, buy stocks for the decade ahead, newsletter editor says
This from MarketWatch's Chuck Jaffe...
WE been warned...
Here's the quote,from the guest he was interviewing:
“Gold is about to go bust,” he [Jim Lowell] said. "... as soon as the world banks decide that one way to bail out their fiscal mishaps will be to sell gold at historically high prices — gold that they were buying in metric tons just last year — I think you will see a run on gold to the tune of 20% to 30% to the downside.”
This is one of the few realistic criticisms of gold: panic selling by stressed institutions. That's what happened in 2008. But I suspect that it would be sold privately, to China, to avoid driving down the market price. And, long-term, it would be bullish, as gold would be moving into strong hands.
Do you think people will take my Apple and Netflix shares in exchange for food and clothing in a panic? I opted to have the actual shares delivered to me for physical holding, since people keep telling me to "buy physical".
lose on gold and silver? tell that to the ancients, the school boys who invented paper money running around wiping our asses with their paper will never be ancient.
I can remember all the doom and gloom about "the coming ice age" back in the 70's:
http://newsbusters.org/blogs/noel-sheppard/2007/09/19/nasa-scientists-pr...
http://tomnelson.blogspot.com/2009/01/longer-planners-delay-more-difficu...
see: 1975 New York Times: “Scientists Ask Why World Climate is Changing, Major Cooling May Be Ahead”, May 21, 1975
see: 1975 New York Times: http://ruby.fgcu.edu/courses/twimberley/EnviroPhilo/Ominous.pdf June 19, 1975
see: 1974 New York Times: http://ruby.fgcu.edu/courses/twimberley/EnviroPhilo/EndangerFoodSupply.p... August 8, 1974
see: 1974 Time Magazine: “Another Ice Age,” June 24, 1974
http://www.denisdutton.com/cooling_world.htm
Books were even written about it:
http://www.amazon.com/Cooling-Has-Next-Already-Begun/dp/013172312X
http://www.amazon.com/Weather-Conspiracy-Coming-New-Ice/dp/B001RG3POO/re...
And on and on and on...
Compare Al Gore's net worth before he became involved with "Global Warming" (1 to 2 million)with his current net worth (90+ million). Examine what companies he holds stock in, then you'll have your answer.
http://newsbusters.org/node/11149
When large amounts of money are involved, don't underestimate the amount of "facts" that can appear.
would somebody please compute the slope of that line?
For gold to drop to 250$ an ounce the dow
will have to drop under 1000 and medium
home prices 90% lower then today.In case
of a deflationary collapse gold will do just
fine value wise,as in a hyperinflationary boom.
Price is not important,value and usefulness are.
Gold is concentradet wealth,very easy to hide
from insolvent gouverment.In times of trouble
gold/silver are incredible usefull tools to use
on the black market.Even for sceptics,history
proves it is real wise to put at least 15% of
ones financial assets into PM as a hedge.