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Mr T Talks Gold On Bloomberg
Mr. T pities the fool who does not buy gold. And having been gobbling up the shiny metal since 1977, Mr T's cumulative return puts about 90% of the hedge fund managers currently in the business to shame, and proves, once and for all, that to be an uber-successful asset manager, a mohawk and a unique sense of jewelry is all that matters. No seriously, Mr T presents what is probably the best defense for gold we have ever heard (just be sure to ingest a lot to quite a lot of booze first), and why it is headed to 5, 6, and more digits very soon. That said, Mr. T, and Gold Promise, will gladly buy your gold.
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Cash America (CSH) is a great business but it is after all a pawn shop and payday loan operation. Just as a wild guess their "gold promise" is to rip your eyeballs out by buying your jewelry scrap (wedding ring you don't want no more) for some FAT discount to melt value.
Probaly so. It's called making a profit.
I ain't gettin' on no plane.
SELL SELL SELL - Fuckit, fiat or not fiat, i'm selling my gold, if this is not a bubble alert, I don't know what is (but I'm still keeping my silver until Rocky shows up with silver around his neck)
Yeah, that's what the man's saying: SELL
your gold...to his boss.
Gold is useless, it's as useless as fiat money, the same criticism that people apply to fiat money can be applied to gold, except that you can't print gold, so at least there is some value retention. Gold doesn't pay dividends, rent or grow, it's wealth preservation and it's done it's job already, when it's on general public and celebrities minds and voices, it's a fool's errand, just like when taxicab drivers and shoe shiner's start to give stock tips.
I'd rather have my money in emerging markets and commodity stocks, real estate and agriculture than in a shiny rock that has value based on people's faith in its value...Goldbugs had their run and may have for maybe a year or two, then it's all down baby...
I'll buy your gold, weak hand.
If it hits $1400 I'm ringing the cash register (again :)
I agree. I'm waiting for the next market wipeout to buy some XOM and CVX. Black gold!
You just made the case for gold, you moron.
No I didn't, I just made the case that gold is wealth PRESERVATION and it's done it's job the last 10-20 years. If I was obscenely rich as Soros or Paulson of course I would have some gold in my portfolio, just because I wouldn't care anymore about growing my nest egg, just preserving (even though I think their objective is speculating, redeem the SPDR ETF for physical and then give the finger to retail and the last ones on the bullion vault run).
I should made it clear that my objective is long run (20-40 years, I'd rather take my horizon to infinity limit so as I think of my portfolio as a growing business, not short term speculating) wealth GROWTH and you do that by not buying overvalued assets such as long term US treasuries and gold.
People probably thought just like you in the 70's when gold was reaching all time highs (and gold dropped before inflation capitulation, so NO, gold is not an inflation or hyperinflation hedge). If you really think there will be inflation or hyperinflation, you should buy useful things, like real estate, oil and any useful commodity producer stocks or in countries that are growing such as BRIC countries.
And please explain and contribute usefully to this forum before just calling someone a moron, moron...
Yes, because we all know that Soros and Paulsen don't care anymore about growing their nest egg,puuleez. Rich or not, everyone who holds any metals is better off on the long run, regardless of the amount.
Check your facts quasimodo, if you take any 20+ years of rolling investment, gold is beaten by everything, even bonds...
Fuck you.
Lozzer....
@camoes. If you bought in the 70's and sold in the 80's. You would be rich. In a way, aren't we in the 70's now ???
Yes, but how do you know ex-ante when to time the market (buy and sell)? That's why the fair way to compare any investment is to use rolling returns (in my opinon) You can always find a specific period of point and entry for any asset where you had very good returns, the question is which one can make it consistently for a long period? Gold is not one of them, even though people (specially the ZH trolls lately) have amazingly short-term memory and focus on recent performance, it's almost as they are Dory from finding Nemo. They probably invested in high-tech stocks in the 90s, real estate last decade (or are too young to remember that or never read any financial history, but domintate all the fibonacci and hinderburg technical indicators) and now they're are all in gold. I do respect people who were courageous enough to buy gold at 400, but they would probably be laughed by these same morons.
Sorry for going way over your question...but I'm just sick of this one-minded short-term thinkers. I'm not calling top on gold or anything, I'm just saying that Mr. T signals we're coming to the end, could be 2-3 years, or tomorrow, if I knew I wouldnt be wasting my time discussing this and would be drinking champagne in my yacht with supermodels.
http://www.investopedia.com/terms/r/rollingreturns.asp
That about sums up your investing style. I've got some chicken bones you can toss if you want some technical analysis to back up that thesis.
"but I'm just sick of this one-minded short-term thinkers"
You mean like the last ten years? WTF are you talking about? Gold was/is the investment of the decade yet 90% of Americans don't own one ounce and couldn't givel you one decent gold stock to own. Sorry, wrong answer, Mr T not withstanding.
then SHORT GOLD, genius. you'll gain more credibility amongst the cool kids in class.
you don't do this now?
...you've got some catching up to do.
And there I thought you were a super model!
gold jewlry, bitchez.
you would look more beautiful then ever, if you have a gold necklace on and it was dropping right in between your voluptuous two breasts. it would enhance your picture 10 fold. but your pretty any way.
TODD REED trunk show saturday 16, noon. i will be there to exhibit my fine gold jewelry and show to many many high end customers.
"You just made the case for gold, you moron."
Oh but you can print gold, they call it an ETF.
http://www.stungunstopepperspray.com/
This might be the start of main stream recognition. My friends and neighbors never mention the yellow fairy dust. Yet. Value based on faith? I'll bet on lack of faith in governments - ALL of them.
You are probably well positioned in commodities. Gold is not a commodity like greasy wool or prime oak acorn mash bourbon. It is money. Another year or two for the goldbugs - indeed, and it will reach mania proportions.
Agreed doomfinger, just not ALL of the governments, there are still some who are fiscally responsible and creditor nations, which may continue to be so in the short-term, even if they try to fight of QE2, 3, 4. The problem is not so much in devaluing the currency, if all countries devalue, you're just multiplying the numeraire, but screwing the bondholders. That's why currency wars are a no-win situation. The problem is the countries who are effectively "soft" defaulting their debt through money printing. What do you think China would rather have, a trillion dollars of us treasuries or a trillion dollars of oil reserves, farmland, water sources, iron ore, etc.? Where do you think all the money will go once it capitulates? Do you think the Chinese would rather own a shiny useless metal (except maybe to give to their wives and concubines?)
there is plenty of upside in precious metals, food, and energy. we're all saying the same things and splitting hairs.
this is sort of like Trekkies arguing with Star Wars fans.
lmao, nice one..
"this is sort of like Trekkies arguing with Star Wars fans."
+1
Why commodity stocks or miners, what are they mining for. PMs or stuff. Enough said I think. Think. It's all the same.
OMG! I don't even know how to answer to this one...guess a moment of silence for humanity's infinite supply of alternative soil nutrients is the best response...
No man, the MSM have woken up to the fact that the public confidence in them has deteriorated to the point that nobody believes them.
So here we're witnessing Stage 2 of the propaganda wars - reverse psychology. Whatever they tell us we're likely to do the opposite.
Stage 3 - live porn in the CNBC studio.
Please by all means sell if this is a turning point for you. I for one would love weak hands to dump on the market. I'm not done buying till the fundamentals change or I simply can't put he scratch together to buy more. And the fundamentals don't change till the central banks do put down their guns in their veriosn of the Mexican standoff. Where everyone has the gun to their own head.
Sure there are other things to own, but I can't store barrels of oil or bushels of wheat, or operate agg land. If you can rock on, but in the fire paper assets might get you burned, counter party risk is a mother.
Shameful, its quite simple. take some profit when fiat rates are raised to 20%, and not one day sooner.
Right on Chopper. I'll trade in when policies change. When Geithner is in prison, and benny can't get a job teaching at the community college. I'll trade in when the lunatics in DC have been replaced. I might consider a long bond at 18% if it appears some sanity has returned. But honestly I believe America has jumped the shark.
+2000.
Rocky does silver. I don't wear the stuff, however.
Oh! You mean that Balboa guy.
Never mind.
That is hilarious. I thought he meant you, too.
BIS taking in gold?
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=112890&sn=Deta...
Please direct me to the corresponding link that states this fact. Thank you.
http://www.bis.org/
Ah pitty da fool, bitchez!
If the top is in, then I am a Night Elf with a Mohawk Grenade:
http://www.youtube.com/watch?v=BAibYnDUH6c
Some Good Kennedy history in here.
'Kennedy later claimed he knew the rampant stock speculation of the late 1920s would lead to a crash. It is said that he knew it was time to get out of the market when he received stock tips from a shoe-shine boy.'
http://en.wikipedia.org/wiki/Joseph_P._Kennedy,_Sr.
Is the shoe shine boy telling you to dump paper currency, yet? Let me know. Then I will sell some gold. Too funny that people never see the bubble they are in. We print trillions, but they just can't see it because they are fully invested.
Yah, and Mr. T tellin' ya'll on the commercials to sell yer' gold.
so fucking true.
fiat bubble, run for your lives.
Wow so when did The Onion merge with Bloomberg? Though having Mr.T on does lend credence to my idea of having commentators fight it out in a cage. The best financial analysis comes when one man has another locked up in an arm-bar or is elbowing his face.
Also enjoyed how Mr. T likes gold but the company he reps is a gold buyer "Yeah it could go up a little, but I don't want to tell people what to do"
They're desperate. We laughed last year.
US To Trade Gold Reserves For Cash Through Cash4Gold.com
http://www.youtube.com/watch?v=6JPcimrnXGA
Bloomberg is digging at the bottom of the barrel. What a comedy.
To the poster above, JFK signed Executive Order 11110 -- Once again, we have come full circle
http://www.scribd.com/doc/4597758/JFK-EO-11110-and-the-Fed
Please study history and look at the laws passed yet, not enforced.
Messing with the oligarchs money is like messing with their emotions. If the Italian mob is willing to kill then what makes us think other gangsters would not kill over trillions?
If this is directed at me, the Kennedy Wiki is a bubble anecdote and contained zero commentary from me.
Gold Biatchez, that make it better!
According to Minyanville's "Mr. T Gold Indicator" tm, as Mr T's career goes, so goes gold. With his voice acting in 'Cloudy with a chance of meatballs" to the success of his world of warcraft adverts, and the remake of the A-Team, he is doing well. Now Mr. T on Bloomberg? The technical indicators of his appearance, such as the media reception and the height of mohawk, are off the chart! Incredibly bullish for gold. All aboard the gold train, fool!:
http://www.minyanville.com/businessmarkets/articles/Mr-T-Gold-Indicator-economic-a/2/22/2010/id/26505
I've always been impressed by the fact he always wore physical, never paper.
Hey suckas.. inflation adjusted gold is half the price as it was in 1979 /1981
http://www.ritholtz.com/blog/2009/10/gold-inflation-adjusted/
While everyone seems to be all abuzz over Gold’s new highs, you should be aware that these are nominal, not real highs.
Adjusted for Inflation, Gold is nowhere near its all time peak — in real terms, its only about half its prior highs:
>Fooooos
Ah, picking certain spots in time to make a point. I can say that about every asset class. Pick a huge top, and then adjust for inflation. How's the inflation adjusted high in the QQQQ's? Oil at $140? Etc., etc., etc.
"I pity the fool who jumps on the gold bandwagon now! Buy Chinese solars instead!"
Who said that, Howling Mad Murdock?
We heard that at $1300 and $1200 and $1100 and $1000 and $900 and...
"I pity the fool, Bitchez!"
Where's Murdock when you need him??? I love it when a plan comes together........
"It was Dial-A-Joke, fool!"
Worth re-posting.. chart of current gold/silver vs. commodity bubbles of the past:
http://v3.caseyresearch.com/images/Gold-Silver-Bubble-orig-100827.gif
In 1972 a crack commando unit was sent to prison by a military court for a crime they didn't commit. These men promptly escaped from a maximum security stockade to the Los Angeles underground. Today, still wanted by the government, they survive as soldiers of fortune. If you have a problem, if no one else can help, and if you can find them, maybe you can hire the A-Team. (Sound of Machine guns
Daadaadaaaaaaadadadaaaaaaadadadadaaaaaaaa Daaaadadadadaaaaaaa Badababaaaaaadaadaaaaadaaaaduhduhduhdaaaaduhduuhduuhduhduhduh
http://upload.wikimedia.org/wikipedia/en/9/93/Ateam.jpg
I always wanted one of those GMC vans with the pimped out interior
with "free candy" painted on the side?
Tyler,
You were right about imbibing alcohol first.
DavidC
I bet it will be a long time before people forget this crash, flash crash and comming currency crisis. This is the era of gold.
Only in America is Gold not money.
The is one of the funniest posts ZH has had since you guys got started. It was a continuous laugh attack.
I wonder if he colors his hair.
Big Man can only carry 45 pounds? How convenient - just under one thousand $thousand. Benny has at least 5 or 6 lbs. hidden in his beard.
Has anyone seen the ad for Woocard they want to buy your unused gift card.
Is that odd?
As long as the central banks and the BIS are hoarding gold why shouldn't anybody else?
Shutup Fool!
Is this a joke to turn people off from gold...bring this guy on the big screen to make everyone think their fiat money is superior to precious metals...the world has just turned upside down for me today from POMO to infinity to Mr. T.
That what I was thinking. MSM reverse-psychology.
Crap, I loved my gold position until 2 min. ago...
Mr. T ain't No Fool !!!
He was "physical" 30+ years ago, and he wants to buy your gold for 50 cents on the dollar.
It's funny that he mentioned the ark of the covenant, because I think my face just melted.
Thanks for the laugh. I really did LMAO.
Awesome. I'll give him this over 99% of the rest of the shysters making their claims: you damn well know he puts his money where his moths is. The guy's got about $40k of product swinging around his neck.
It's called electroplating. Talk about a walking target in this day and age. I hope he sells enough of those chains to afford some really good security, else some fool's gonna pity him.
If he got a big neck, that be fitty or sixty kay.
He says he can't carry more than 45 pounds = 16 x = 720 oz x $1370 = $968,400.
.................
I think I can take him.
Yeah, I did the math too...
Troy ounces so 14.58 per lb. Most certainly his necklaces are 18K max not 24k so the math is
45 * 14.58 *.75 *1370 = $674,142.75
Still a pretty expensive neck.
interesting article on the price of gold and on some smaller gold stocks that have finally started to show their leverage to gold in recent months.
http://www.goldalert.com/2010/10/gold-price-climbs-to-new-high-near-1370/
Here is T's real prediction for all you Rocky Balboa goldbugs:
I pity the fed!
Finally, a colorful figure in the financial theatre.
Now I am waiting for Jesse Ventura to appear and say something....
Mr. T: "Gold is special."
Interviewer: "Are you gonna sell any of your gold now that we're at record highs for the precious metal?"
Mr. T: "No, no, but I'm about to tell other people it's time to sell."
Someone get this guy a job at Goldman!
s h i n y
s h a r k l e y.
Frontpage of the FT a couple of days ago: "Ahnuld" sporting cowboy boots, laidback in a chair talking with Dimitry. Now the second childhood idol Mr. T is getting airtime - either the financial media is trying everything, or, they are finally coming to their senses.
And to all of you saying this is a top sign - no it isn't. The T'ster has obviously always been a goldbug. When Jay-Z an Giselle wants to get paid in gold - that will be a top sign.
I pity da fool's broken website:
http://www.sublimelogic.biz/images/GoldPromiseFail.jpg
FAIL!
1386 usd/oz. Mr T was right!
Futures are a bubble sucka!!
outstanding
I love it when a plan comes together...
+1, very funny!
Gold Bugs.
Just Gold Bugs.
Gold Bugs are Foos!
Wait. Ok...stop making fun of the Bugs now.
It just draws more attention.
Come on... Mr. T can't even spell his own name and some here would advocate taking his incoherent advice?
I like precious metals but some here will junk any post that suggests having a look around for your selves and consider the possibility that gold may not go straight to the moon from here.
When the trolls junk you instead of offering evidence beware! Now watch how many times this post gets junked!
http://www.stungunstopepperspray.com/
Soros is right. Gold is the ultimate bubble. Even Mr. T is leveraged up!
Really this is a great post from an expert and thank you very much for sharing this valuable information with us.
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