• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

Mike Krieger On The "High End" Bubble

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Thu, 07/21/2011 - 16:21 | 1478560 JohnG
JohnG's picture

WTF is wrong with you man?  Just another troll that should be ignored?

Thu, 07/21/2011 - 16:26 | 1478572 Ahmeexnal
Ahmeexnal's picture

Trav7777's lily white world is collapsing.

Thu, 07/21/2011 - 16:36 | 1478607 JumpinJonnyK
JumpinJonnyK's picture

This is why I have been buying gold and silver for 3 years and still add to my holding.  I only buy the physical coins and bays.  Just an fyi for anyone looking to buy gold or silver use www.goldshark.com it's a cost comparison shopping site.  It will help you locate top dealers with the best price. 

Thu, 07/21/2011 - 16:48 | 1478656 I think I need ...
I think I need to buy a gun's picture

we are within weeks of gold revaluation and the soverign debt crisis will be history

Thu, 07/21/2011 - 18:11 | 1478884 Calmyourself
Calmyourself's picture

Years out pal,  the psychology of the masses manipulated perfectly by the paid for media will not allow it to happen..

Thu, 07/21/2011 - 21:05 | 1479350 DoChenRollingBearing
DoChenRollingBearing's picture

@ I Think and Calm,

I have no way of knowing when gold will make its big move up, but my guess would be that it incrementally go up until we SNAP!

And then we get to FOFOA numbers.

I agree with Mike Krieger that the high end retailers are dangerous play for anyone but short term speculators.

Fri, 07/22/2011 - 10:42 | 1480590 Syrin
Syrin's picture

FOFOA = ??

Thu, 07/21/2011 - 18:34 | 1478926 ElvisDog
ElvisDog's picture

Not sure what that means. Bottom line is that no country on earth, with the possible exception of Norway, can make good on all the promises they've made to their people. A reset/revaluation is coming but it won't be primarily in gold.

Fri, 07/22/2011 - 08:22 | 1479991 YHC-FTSE
YHC-FTSE's picture

"we are within weeks of gold revaluation and the soverign debt crisis will be history"

 

You're kidding right? Equities will be hyperinflated before that revaluation tool is used. It may have worked in Roosevelt's era, but I can't imagine Americans obeying an order from the president to sell all their gold to the US treasury, besides, we live in a globalised era and the high end guys who have physical gold holdings in banks would have moved it where the IRS/Treasury can't touch them long ago. Revaluation without confiscation is also on the cards, but that is happening incrementally right now anyway, and it does not solve the debt crisis. 

http://www.321gold.com/editorials/thomson_s/thomson_s_011409.html

Thu, 07/21/2011 - 16:42 | 1478631 nope-1004
nope-1004's picture

Thanks Mike.  Love your work.  You bring passion and clarity.

 

Thu, 07/21/2011 - 18:45 | 1478956 waylon153
waylon153's picture

In reply to the article:  Disappointed.  Not bad for an opinion piece but to make such a strong statement based on a Bloomberg article is a mistake.  I haven't been particularly impressed by Bloomberg recently and I'm finding it harder to find well researched information there.

"Just read this article from Bloomberg this morning to get an idea of how close we are to a total social implosion."  Really?  Bloomberg is now a leading source and indicator of total societal implosion topics?  Let's do some fact checking: 

1) Written by Anna-Louise Jackson and  Anthony Feld.  Can't find the author's bios on Bloomberg.  However, I did find over 8 articles they have written together.  Interns?  Part-time student journalists from Northwestern?  Who knows who they are, but they seem to be holding hands a lot.  Hard to believe Senior Financial Reporters need so much help....

2) The authors claim "Consumers in the U.S. are increasingly using credit cards to pay for basic necessities as income gains fail to keep pace with rising food and fuel prices." Really?  Because the June increases mentioned could easily be explained by summer vacations and expenditures away from home.  Gas is needed for families traveling by auto.  Also, how do credit card companies know that people are paying for gas or food?  Are itemized lists sent to billing or just the transaction amount?  Purchases made from grocery stores could easily be pharmaceutical or anything else.

3) I stopped reading (not really, but wish I had) when the authors cited data from the Federal Reserve.

4) "Changes within the industry may account for some of the recent stabilization in outstanding revolving credit as several banks have ended incentive programs for debit cards." Incentive programs for debit cards?  Never heard of those.  Ever.  Besides, several banks?  Which banks?  Two community credit unions in Walla Walla, Washington?  How large were these banks?  Large enough to spike data leading to "Consumers in the U.S. are increasingly using credit cards to pay for basic necessities as income gains fail to keep pace with rising food and fuel prices?"

Thu, 07/21/2011 - 19:27 | 1479048 Vlad Tepid
Vlad Tepid's picture

He didn't make the statement of the article BASED on the Bloomberg piece...he made it from long experience in the macro trends world as he stated at the beginning of the article.  The Bloomberg piece was icing to give more flaovr to the overall trend he sees developing.  

Thu, 07/21/2011 - 21:00 | 1479322 Kali
Kali's picture

Waylon, sorry to tell you, number 2, that's a big YES!  Any transaction you make with a credit card or a debit card is "logged" somewhere, specificly stating what you bought.  If you get a receipt showing what you bought, so do they.  If you have a grocery store "club" card, they know exactly how much toilet paper and tampons you are buying.  Think about it, marketing research people sell this info about you all the time.  You think the gov doesn't have it somewhere?  Shit, even my credit union sends me an unsolicited "breakdown" of where I spend my money every month, would I like to meet with a financial planner to better manage my income?

In addition, a bank teller friend told me this, since 911, all banks/credit unions were required to digitize the deposits of checks.  Seems things got screwed up at the clearinghouses that got blown up along with the towers.  So, they also know exactly where any check you deposit in your account came from and where any check you write went to.

I am afraid you are woefully uninformed about how our money systems work and unless you pay or buy everything in cash, yes, they do know EXACTLY what you spent your money on.

Thu, 07/21/2011 - 22:15 | 1479477 IEVI
IEVI's picture

If you think the Bloomberg article was written by interns, how about this from CNN.  

 

http://revolutionarypolitics.tv/video/viewVideo.php?video_id=15271

Fri, 07/22/2011 - 08:31 | 1480015 -Michelle-
-Michelle-'s picture

Incentive programs for debit cards?  Never heard of those.  Ever.  Besides, several banks?  Which banks?

USAA is ending its debit rewards in September.

https://www.usaa.com/inet/ent_search/CpPrvtSearch?SearchPhrase=debit+rew...

A new federal law will significantly reduce the revenue banks receive from merchants when consumers pay with a debit card. USAA Bank has always returned the majority of this revenue to its members in the form of benefits, such as free checking, ATM fee refunds and debit rewards.

 

As a result of the law, USAA Bank will end its debit card rewards program Sept. 1. Unlike other banks responding to the new law, USAA Bank is not adding fees or eliminating the benefits that members value most, including free checking and ATM fee refunds.

https://www.usaa.com/inet/pages/about_usaa_corporate_overview_financial_...

As of March, 2011, ranked 66th in net worth among the Fortune 500 and 132nd for revenue, USAA has proven to be a financially strong organization. Without a cent of TARP money, our net worth, owned and managed assets, revenue, net income and membership all increased and continues to grow. Plus, member satisfaction remains consistently high at 97%.

Thu, 07/21/2011 - 19:10 | 1478997 mkix
mkix's picture

I just wanted to throw a thanks for Krieger's article.
I'm a designer working with marketing teams who are constantly force feeding us this "high end market" strategy stuff. It's complete nonsense!
It's market research that's like from unicorn valley! There's no way that 1% of a population can support all of these brands… it's a pyramid with no base, which is suppose to be emerging markets aka. China, and I think there is a "want" for it, but not any cash behind it. The 3 fake apple stores in the news today is a perfect example. It's a lot if crap to tackle in a blog post. Thank you mike.

Thu, 07/21/2011 - 19:22 | 1479035 trav7777
trav7777's picture

Junked off again and I've got a 2nd one almost on the cusp of making it a twofer

THAT IS HOW YA DO IT, BITCHEZ.

Is Chumba watching?

Tyler, you need to raise my junk limit

Thu, 07/21/2011 - 19:49 | 1479109 mkix
mkix's picture

Tav! Let it go... Why are such a dick?... Lol
What do you have to say?!

Thu, 07/21/2011 - 16:29 | 1478588 trav7777
trav7777's picture

got no time for blowhards who voted for Obama

Thu, 07/21/2011 - 16:31 | 1478597 JohnG
JohnG's picture

Where did you get that idea, and just for the record I don't vote in sham "elections" anymore.....would NOT have voted for Debt Brother if I did.

Thu, 07/21/2011 - 17:17 | 1478733 trav7777
trav7777's picture

Krieger did

Thu, 07/21/2011 - 18:57 | 1478968 GoinFawr
GoinFawr's picture

Looks like a lot of people don't have time for you either Trash, though I doubt they give a crap how a bigot like you votes.

Thu, 07/21/2011 - 19:13 | 1479006 Blanc swan
Blanc swan's picture

Shut up, jack-ass.

Thu, 07/21/2011 - 21:19 | 1479056 GoinFawr
GoinFawr's picture

What is this: the cracker jack punk parade?

Tone down the "White Noise", "...turn up the colour, turn down the suck..."

Thu, 07/21/2011 - 19:15 | 1479008 Libertarians fo...
Libertarians for Prosperity's picture

Trav7777 is one the the most epic disappointments in the short history of ZH. 

Incredibly smart guy who can't escape the clutches of his white-trash, misogynistic, KKK DNA.

 

Thu, 07/21/2011 - 19:20 | 1479027 trav7777
trav7777's picture

ROTFL...not my fault if you're blind, moron

The "truth" you guys spout here is regarded as moonbat conspiracy bullshit, and you have the gall to be closedminded?

Thu, 07/21/2011 - 21:20 | 1479387 GoinFawr
GoinFawr's picture

Heh, 'closeminded to regressive closeminded-ness', is that supposed to function like a double negative?

Thu, 07/21/2011 - 22:43 | 1479529 snowball777
snowball777's picture

Hey, man, you gotta give Trav the freedom to let his fuck flag fly.

Thu, 07/21/2011 - 23:08 | 1479562 GoinFawr
GoinFawr's picture

And I do. I just call him on the bosh.

Thu, 07/21/2011 - 22:36 | 1479514 Libertarians fo...
Libertarians for Prosperity's picture

Closed Mindedness?

LOL

It's difficult to find a group of human sloths more close minded (and loathsome) than the KKK, and it would appear, given your obsessive racist and bigoted commentary, that you're either a proud member or looking to join.

Your various arguments that you puke up to support your white-power, superiority complex are utterly asinine.  Take for instance your claim a few months back that cranial radius is indicative of intelligence - fucking pure garbage! 

You're citing research from decades ago before advancements in neurosurgery allowed surgeons to remove significant portions of people's brain with virtually no lasting cognitive affects.  If we can remove 25%-40% of some one's brain with full recovery 12 months later, do you actually think a 2cm difference in cranial radius means anything? 

What about those people with Down Syndrome who have a much larger cranial radius?  Do they have better cognitive skills?

What about Einstein? Was his brain/cranium larger or more dense than normal?  No. The only notable difference was the number of glial cells.

For you to cite pathetic, half-ass, archaic, agenda-driven research from 40 or 100 years ago demonstrates the sort of idiocy one should expect from a KKK slug looking to justify his white-power insecurities.

However, even more pathetic than that, is your insistence in playing the powerless victim. You're always the victim, aren't you?  Women screw you over; Jews screw you over; blacks screw you over; bankers screw you; politicians screw you. You're the guy who blames everyone else for your own failures and misery, aren't you?  If only the world was all male, all white and government-less, you could just butt-fuck everyone in pure utopia, couldn't you? 

It's not the fault of women, or Jews, or blacks or minorities for whitey's struggles. It's his own damn fault. If you want to blame the blacks and minorities for being parasites on the system, why not blame the white, country-club Harvard politician who buys their votes with food stamps and social projects? Here, you blame the recepient, not the provider, because the recipient is black.  When convenient, though, you'll switch blame to the provider, as is the case with "Jew confetti". If you want to blame the Jews for usury, why not blame the entire planet for signing on the dotted line?  You switch blame from the hookers to the johns and back again when it suits your paradigm of bigotry. 

When a man constantly blames others for the environment in which he lives, I think it speaks more about the man than his environment. If whitey was so damn smart, why does he allow himself to get screwed all the time? Why has he allowed the world to treat him so unfairly?  When you blame everyone else as pervasively as you do and constantly play the victim card, you unwittingly reveal your (and whitey's) spinelessness. That, coupled with your obnoxious avatar and hostile, loathesome online persona, leads me to believe you're just another spineless "victim" struggling to understand why you're so irrelevant to this world and why your sphere of power erodes more and more.

You're a smart guy trav - you truly are.  But so is Kaczynski and a thousand other famous lunatics. 

   

Thu, 07/21/2011 - 23:12 | 1479573 GoinFawr
GoinFawr's picture

I'd swear Trash is Dr.Lionel Jones in Kurt Vonnegut's "Mother Night"

Thu, 07/21/2011 - 23:56 | 1479634 trav7777
trav7777's picture

wow...that was just a great screed man.

Too bad you have me confused with somebody else.  I'm not miserable nor a victim; I'm doing fine.  I'm not complaining every other fucking day or salivating for the end of the world to come RIGHT NOW please bc I have my canned ham and silver buried in the backyard.  That is y'all bitches.  And I blame YOU.

Fri, 07/22/2011 - 09:43 | 1479916 Urban Redneck
Urban Redneck's picture

Closed Mindedness?

It is almost impossible to find a group of human sloths more close minded than anyone in a position of power that benefits from the maintenance of the status quo.  The KKK bigots are actually legitimized by the closed minded actions of those in power who de-legitimize, as opposed to refute, their line of reason.  

Fri, 07/22/2011 - 08:47 | 1480051 Arthor Bearing
Arthor Bearing's picture

People get really charged up about race, which should indicate that there are serious internal imbalances in the loudest most obnoxious people shouting on either side of the argument. In a completely different context Glenn Greenwald said "the ideas stigmatized with the most potent taboos are the ones that are most obviously true." Rather than bash Trav, which is becoming downright trendy on these comment boards, you guys should consider his ideas for what they are, and do so without getting your panties in a bunch or attacking him personally with dumb cliches ("white trash" "kkk" etc). This is how rational discourse happens, this is how ideas evolve and become sophisticated.

 

Fri, 07/22/2011 - 08:47 | 1480052 Arthor Bearing
Arthor Bearing's picture

double post

Thu, 07/21/2011 - 16:34 | 1478603 Confused
Confused's picture

Trav.....

 

....really? Thats what your comment is based on? You are better than that.

Thu, 07/21/2011 - 16:38 | 1478617 tmosley
tmosley's picture

Clearly you haven't read many of his comments.  He is NOT better than that.

Thu, 07/21/2011 - 16:47 | 1478653 gmrpeabody
gmrpeabody's picture

At least he USED to be coherent.

Thu, 07/21/2011 - 20:14 | 1479190 GoinFawr
GoinFawr's picture

I think Trash's noggin' went offline about the same time as the Fukishima nuclear plant, either that or when he added another '7' to his moniker.

Thu, 07/21/2011 - 16:53 | 1478675 Robot Traders Mom
Robot Traders Mom's picture

+1 from my son. He is in Juvie right now.

Thu, 07/21/2011 - 17:00 | 1478695 espirit
espirit's picture

Where have you been Mom? Junior is still able to access the internet on the break room Xbox as we speak.

Damn cutbacks in local support services, uh parole supervision.

Thu, 07/21/2011 - 17:18 | 1478734 trav7777
trav7777's picture

yeah, Krieger's a dumbass

Thu, 07/21/2011 - 18:31 | 1478920 Milestones
Milestones's picture

So as the correlary, you must be the smartass. Couldn't resist.     Milestones 

Thu, 07/21/2011 - 18:54 | 1478970 Al Gorerhythm
Al Gorerhythm's picture

So, Kriegar comes to the party with a theme to consider and you come with a scintillating "STFU" sign around your neck. Now, let's consider who's the dumb ass in this equation?

 

Thu, 07/21/2011 - 19:23 | 1479038 trav7777
trav7777's picture

ok, let's.

 

All right, I have considered it and YOU are the dumbass...along with Krieger.  Throw Mort Zuckerman in there too

Thu, 07/21/2011 - 20:18 | 1479202 GoinFawr
GoinFawr's picture

How about Mark Zuckerberg?

Thu, 07/21/2011 - 20:59 | 1479328 oddjob
oddjob's picture

gay.

Thu, 07/21/2011 - 21:13 | 1479374 GoinFawr
GoinFawr's picture

Hunh, doesn't say anything about that on his 'wall', you know this first hand 'job?

Thu, 07/21/2011 - 21:19 | 1479389 oddjob
oddjob's picture

Who else other than a fag would want to create a site where everybody can come together and reveal personal information ?

Thu, 07/21/2011 - 21:35 | 1479421 GoinFawr
GoinFawr's picture

Any one of the half billion Jabronis that have signed up for it?

Do NOT follow this link or you will be banned from the site!