Infographic: Is Gold A Bubble?
Yes, another infographic, and yes, another answer (always the same) on whether gold is a bubble.
Courtesy of bullioninternational.com
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It's not in a bubble... It's in a "BAUBLE"... (get your facts straight)...
Sincerely,
Nouriel Roubini
I like the "Central Banks Have Turned Net Buyers" graph.
Buy high sell low. Shows how stupid these banker academics really are.
But then again...at this point, the money printing cannot stop until the financial system implodes...
My gut meter tells me no:
Trying to buy a 99¢ taco (unfit for a dog) with 1 ounce gold coineverybody knows that a taco is worth at least 2 ounces of Gold
No one would be fooled by that trick
Roubini, what an idiot. I remember him 2 years ago saying the current stock market rally was a "sauckers rally". Then last year he jumped in with both feet. Oops. A little bit Dennis Gartmanish?
Some of those "economists" just like to hear themselves, like a dog that barks into the darkness. People hear it, but no one is listening.
Lord, I hate sauchers rallies. They're so, I don't know; "popular" or something.
Agreed.
I like Saucher torte though.
But flying sauchers scare the bejeesus out of me.
I've argued with you about this clip before. Of course a cashier at a chain won't accept a gold coin for a taco. They don't want trouble, they just want a FRN that fits in the cash register.
Take that same coin to an owner of a taco truck, and you'll get a years worth of tacos.
I don't understand your argument.
The experiment clearly shows the depths of how clueless people are regarding the value of gold.
If you were her, would you have given him $49.01 in change in the form of FRNs and paid for the taco yourself with a FRN out of your pocket?
Congratulations; you are a modern citizen. You have avoided the entire question and the lesson contained therein by falling back to the uber-modern model; what is your opinion? It doesn't matter what the opinion of the individual idiot is.
It would appear you're addressing me.
If so, your point is logically flawed.
I am aware of the value of the gold eagle in question, and would have gladly given the man $49.01 in FRN change, paying for his taco with 99 cents from my own pocket (assuming I was dishonest, which did not appear to be the reason why the clerk declined to take said gold eagle in the video; in fact, she appeared to have absolutely no clue as to its value, and was relieved when he whipped out his BenankBuck).
Am I in the distinct minority or majority of individuals?
If you assume that I'm in the distinct minority of individuals, then you are necessarily conceding that the majority of the population lacks any fundamental understanding of the value of an American Gold Eagle.
If that's the case, how can it be argued that the mania historically associated with bubbles has begun, let alone peaked?
There are a couple of flaws in that "experiment" and in trying to extrapolate it's results to the wider US population:
While I do suspect that most people know very little about gold (mosty because most people don't have enough savings to be able to afford it), that specific experiment was designed to have that specific result:
http://www.youtube.com/watch?v=Gk5aRIz17fk&feature=player_embedded
I <3 the Interwebs.
Personally, I think this clip is a useful, if experimentally flawed, illustration of the emotional risk/reward calculation. Her risk was about $50. Her reward was potentially $1,400. She could have spent a few seconds feeling the weight of the coin in her hand and observing it's fine workmanship (the golden eagle is one of the world's most beautiful coins). It is obviously not a toy.
This reveals the source of poverty. You must take risk. Opportunity truly knocks ONCE. Not knock, knock, knock. It's just...knock.
If you were her, would you have given him $49.01 in change in the form of FRNs and paid for the taco yourself with a FRN out of your pocket?
_______________________________________________
The speculative prospect of such move has to be good because it is a fire cause for anyone trying this.
The stupidity of your comment is so severe that it doesn't deserve a specific response.
Really? So refraining from moves that will cost you your job, in an environment where unemployment is rising, is stupid?
What you are calling for is a book keeping manipulation through the cash register, an operation clerks usually have no authority for.
Pocketing the gold coin for yourself while filling the gap with your own money is theft as you use the property of the store to speculate.
Indeed, the hope is stupidity, that the management is stupid enough to let those kind of moves slip through.
I am the Great Stoolman Mousy Tongue, running dog imperialist and warmonger extraordinaire, and I approve this Chinese citizenism message.
Hey dumbass, they are given a till at start of shift and it is counted at end of shift. This corporate 'merica. Nobody cares what happens in between as long as the end of shift till tally's with the register and none of the customers complain.
As soon as someone official starts raising hell about MF Global misplacing $1.5 billion, come back and try again.
You're forgetting that Anymouse is a Chinese citizen and a docile sheep and subject of a totalitarian regime, and as such it is beyond his grasp to fathom doing anything that is neither expressly forbidden nor usual in his controlled, conformist, cowed society.
OK, I tend to speed read the comments section, and blink past the bag people, so now that I know who Ananonymous is, I can keep this in mind.
zhandax said:
They are "struggling" to find criminality...
Doubtful Signs of a Criminal Case Against MF Globalhttp://dealbook.nytimes.com/2012/02/28/doubtful-signs-of-a-criminal-case...
Gold coin is worth losing that job. Lets face it. Its probably worth more than the monthly pay.....
.....soon to be worth more than the yearly salary.
;-P
Severely molten parsley computers, longing for draconian Chinese citizenism hot worm portfolios, will forever squeeze blue hurtful penny calm under all enslaved chrome apples, banishing corrugated eggplant sodomy six times.
Just you because him don't the understand the language, doesn't mock is re-apprpriate enough...jerk
He known troll, raging anti-American bigot, deserve all he get in nastiness, should be shot by Chinese firing squad for incompetent trolling.
oh...sorry
raging anti-American bigot,
_______________________________________________
Apparently, US citizens do not appreciate much debates of ideas.
Outlining a set of beliegs is now being raging anti something bigot, ah, well...
I am the Great Stoolman Mousy Tongue, destroyer of freedom, hater of all round-eyed foreign devils, rampant anti-American bigot and outliner of beliegs, and I approve this Chinese citizenism message.
Hey any mouse leave the beli egs alone they are a protected species.
No poaching from the wild tut tut.
@TIS - pocketing the coin would be theft (she's appropriating her employers benefits) and I'd bet they'd prosecute her. If she puts it in the till she's benefiting her employer but risking the coin being a fraud - which maybe she gets fired for. And I don't know store operations, but I bet she's recorded on a security camera. So she risks prosecution or termination with no reference. And you think this is a fair trial?
Take that coin to the owner of a taco truck. Spend some time with them, and I'll bet you'll come away with a fair value barter at least half the time.
Mark Dice is the bomb! :)
lizzy36
I am a jew.
I come from a large family of Eastern European Jews.
Some observant, some not.
NONE OF US LEARNED THIS CRAP.
It is racist, anst-semtic, 3rd reich scapegoating, CRAP.
I believe in free speech. I try and stay out of ignorant, racist, lowest common denominator debates. However, if i believe that the debate has become disrespectful, to Zerohedge and what it stands for, i will have the debate temporarily halted. That is not a threat, it is a statement.
http://www.zerohedge.com/news/next-leg-ponzi-revealed-central-banks-begin-buying-us-stocks-outright-starting-today#comment-2215694
Let that be a Lesson to ALL! of You Goy Slaves! It is a Statement! of Authority!
Freedom of Speech!
And Censorship of the Truth!
Are at her finger tips!
Honestly! You Goy Slaves should have known better than to Anger Your Owner Lizzy!
If this sounds familiar! Here is why! Barbra Specter and Lizzy have that same “Jewish Authority over the Rest of us Goys!” We Goys can be silenced whenever it suits our Jewish Masters! And that is NOT! a Threat.. Per Lizzy! That is a Statement! See the video below and see if you can as well recognize the similarity between Barbra and Lizzy? Maybe Lizzy is Barbra? Who knows.
http://www.youtube.com/watch?v=k2Vq_e2Z1ug
and for those of you wanting to know.. TruthInSunshine
shares these views of Lizzy’s! and backs up Lizzy’s power to Silence the Goy Slaves! Truth be Damned!
Given the Fact that Lizzy has used Lobby Dollars with Tyler.. to provide herself with a Bully pulpit! And of course more sway than the rest of us.. Because of the Lobby Dollars.. I would implore you Goy Slaves to behave.. shy away from the Facts and the Truth for fear of being politically incorrect by AIPAC’s Standards!
It should be as well noted that Tyler has been threatened with a Law Suit for Liable! By the Jewish Lobby here at ZeroHedge!
The Truth it seems will not set you free! With regard to your Jewish Owners!
Let this be a lesson to ALL of You Goy Slaves!
Let us ALL! try to NOT! get Tyler or Fight Club in any Trouble.. even if the FACTS! Are being put forth for discussion!
Thank You for Your Time!
P.S. You will notice that 50,000 plus reads and over 600 comments later that Lizzy Allowed the Goy Slaves to have their Rant! LULZ!!
JW, you're free to say whatever you want on ZH, as it's one of the few uncensored forums around, which I actually appreciate (I'm very much a fan of free speech), but you really lessen your personal credibility by mistating what others have written and by digging so deep down the conspiracy well.
The irony is that, unlike your confused paranoia, I am able to separate jews from the Israeli Government (criticizing Israeli Government policy often and vehemently), and judge people on their individual qualities, rather than assume incredible things about individuals who I've never met nor had a chance to converse with. I sure do hope that I'm not individually blamed for all the unjust and inherently flawed policies of the government that legislates the land where I was born; guilt by association.
But feel free to keep spamming the forums with all manner of tripe, in bulk mail and rambling fashion.
p.s. - I'd love to see your claims about Tyler/ZH being threatened with a lawsuit by the "jewish lobby" or Lizzy somehow managing ZH's actions, or "Lizzy putting up lobby money with Tyler," something or other. Put up or shut up - now is the time to prove your credibility (or not).
I quoted Lizzy.. that is not what I said.. it is what she said.
http://www.zerohedge.com/news/next-leg-ponzi-revealed-central-banks-begin-buying-us-stocks-outright-starting-today#comment-2215694
Tyler himself said he was under threat of Law Suit from the JEWS!
Only Sourced and Sited Material is ALLOWED when discussing the JEWS! no personal opinions what so ever!
So what do you mean put up or shut up you coward?
P.S. I would really love to meet you face to face. So YOU! can put up or shut up!
ISRAEL ATTACKS IRAN * Latest * FKN Newz Mar 1st 2012
http://www.youtube.com/watch?v=HoGpua2sS5s&feature=context&context=G2d6a4bdFAAAAAAAAOAA
.... you got to have some fun before you die ......
Fab
Well, no you don't, actually. I know several people who never had any fun before they died. But it seems like a worthwhile project to try to have some fun before you die. Of course, this may be merely "living" predjudice.
http://www.youtube.com/watch?v=co0WmN_0piw&feature=player_embedded#!
Don’t give yourselves to these unnatural men, machine men, with machine minds and machine hearts. You are not machines. You are not cattle. You are men. You have the love of humanity in your hearts. You don’t hate – only the unloved hate. Only the unloved and the unnatural. Soldiers – don’t fight for slavery, fight for liberty.
Bankers want to cause inflation.
What better way to do it than to drive the price of gold up and intentionally creating a bubble in gold?
I don't think we're in a bubble for gold yet, not by a long shot, but we will be.
This is indeed, very likely. The circumstances and the price behaviours; will, as they say, "blow your mind".
Last night I thought of a song for my football (soccer) team. Our official song is 'I'm forever blowing bubbles' see here http://www.youtube.com/watch?v=yvuOtlpSAeY and came up with this. "ONE SONG! We've only got one song, Gold and Silver going gone, blowing bubbles all day long! Wuuuuuuuun Song we've only got one song!"
Gold and silver are not yet in a bubble but if 70000 fans start to sing this every Saturday it soon will be!
China says it's a blobble.
Being a blobble is the eternal nature of Universal citizenism gold.
Do you think there's any chance they're going to remove the suicide net from his dormitory?
Dormitory, sweatshop, prison, re-education camp ---- such concepts are both fluid and essentially interchangeable in the People's Republic of Nose-Picking and Blobbing-Up.
Ah convenient exterior.
Can US citizenism exist by itself?
It is a capital question when you factor in the fact that US citizen is meant to be universal and global.
So as US citizenism spreads, it eliminates its exterior.
What will happen when the exterior no longer exists?
The answer is already known as US citizen draw a world of quasi certainty.
When the world population in its majority follows US citizenism, the world population will split in true US citizens and false US citizens, proper followers of US citizens and the others, the deviant ones.
True scotsman fallacy type.
US world order is such that the future has to be better tomorrow.
I am the Great Stoolman Mousy Tongue, renowned public nose-picker, psychopath and sexual deviant, and I approve this Chinese citizenism message.
oh man, go easy on our Chicom poster seeing how he/she has probably been contaminated...so when he/she talks of "US Citizenism" he/she has the moral high ground [/sarc]
The only gold thing Nouriel has was was likely pawned, er, sold, long ago.
Ask Roubini how can gold be a bubble when helicopter ben says he's leaving intetest rates unchanged for 3 years? Were else to put one's money a matress can be lumpy!!
And don't forget, this is the internet blog for intelligent people; if that doesn't make you depressed, nothing will.
Is crude oil going to hit 150 today and gold 2500??? http://www.armadamarkets.com/2012/03/saudi_explosion_wti_crude_oil_fire/
Tyler,
You keep posting bullshit, spin doctor pieces as this :
9/11 Commissioner and Co-Chair of Congressional Inquiry into 9/11 Say in Sworn Declarations that Saudi Government Linked to 9/11I will make it my full time job exposing you as a fraud/spin doctor.
Lord knows you would never put uip this link
http://www.RealZionistsNews.com
In Fact I am almost convinced that Tyler is NOT the same Tyler that of 6 months ago?
Anyone feel the same way?
http://www.realzionistnews.com/
http://www.realzionistnews.com/
http://www.realzionistnews.com/
http://www.realzionistnews.com/
you guys are in fine form tonight
I don't see a graph showing its edibility.
It's been used to barter for edibles, goods, and services for 5,000 yrs.
Sarcasm on my part making fun of the first thing anti-gold people say. They conveniently forget you can't eat digits, treasuries or shares.
But, but, but, Graeber.
Same goes for crude oil, guns, ammo, cars, houses, etc.
In the past the guy with the most gold owned the land and usually the people who grew the food on the land for him.
If we move so fast to a calorie economy that gold as money is no longer useful, all bets are off an anything you could possibly do or own now that would help you stay alive through such a collapse. Even stored food and and water will just make you the target of those who don't have them.
Personally, I'm trusting the majority of people to maintain their humanity as things fall apart. The ones who will cause trouble will likely be taken out first, unlike the current predatory situation in which the jerk are rewarded. I could be wrong, but I'm guessing cooperation will win over the screw you I've got mine, dog-eat-dog mentality so many seem to have on these boards (usually the more conservative types). I hope we don't have to find out, but if we do, then I'll deal with it. I'm not going to worry about it now, but I'll keep my spider sense in tune.
Agreed, but we'll know for sure pretty soon because the 100 yr gas price chart is now shooting straight up. It currently requires almost a gallon of gas to extract a gallon of gas from the earth. Once we hit an exact 1:1 ratio we're in deep deep deep manure. What price will gas be then? $100 a gallon? $1000 a gallon?
Very good point. Along the same lines what happens to unemployment when it costs more for a gallon of gas to get to work than you make at work to pay for that gas?
You;re an innumerate moron; they're dealing with $9.00 a gallon gas in Europe every day. You don;t work for only an hour, fool.
lol plus 1 dang :))
Read what I wrote one more time... I'm aware that gas is higher in price in Europe than in the U.S. but that's not what I was referring to in my comment. When did I say people only work an hour? Jesus Christ. Read before start masturbating to your SAT score and vomit all over your keyboard.
And what the fuck is wrong with your single quote key?
But, but, but.....the abiotic oil crowd claims there's abundant oil and gas on the Earth. Gee, I guess the idea of diminishing easy access to all of that endless oil might be a problem. Careful about throwing out these EROEI statements or they'll start calling you a Peak Oiler.
Silence, idiot. It doesn't require any "Gas" to extract "Gas" from the Earth. "Gas" is a manufactured product; which is a part of the refinery run of crude oil.
Obviously 800 was your combined score
Interesting... do you have a source for this info? Thanks.
"Personally, I'm trusting the majority of people to maintain their humanity as things fall apart."
Heck, you can test your theory TODAY! Leave the doors to your house (and any other building- shop etc) wide open (no dogs, or anything) and take off for the day. If when you come back and no one has messed with your property then you MIGHT have a chance with that "trust" approach.
"I hope we don't have to find out, but if we do, then I'll deal with it."
Yeah, sometimes it's easy to rationalize not doing anything... Expect what you plan for... If you fail to plan they you plan to fail.
BTW - Derrick Jensen and one of his audiences came up with an excellent definition of "hope:" It's the desire for an outcome over which you have no agency.
To a degree your idea about testing that idea is correct about today's society. However, in several places across the country you could do just that because your neighbors would do the humane thing and help you by watching your stuff for you. That's the humanity I am talking about. Although, the more I read these various message boards it appears I need to just accept that everyone's an asshole out to screw me over at every opportunity, then they go to church on Sunday to rid themselves of any guilt.
Hope, beliefs, faith all share that same definition. I gave up on beliefs and faith long ago.
As for hope, I've heard Derrick Jensen's and other definitions of hope and for the most part I agree. However, even though we all may want to pretend we're strictly reality-based hardasses, most people I know hold out hope every day. They hope it doesn't rain and ruin their golf game. They hope that guy screaming up to the intersection they just entered doesn't run the stop sign. They hope the office asshole doesn't talk to them today. They hope they get the cute waitress at the restaurant today. People also hope to one day own a nice home and that hope makes them start saving, etc... I see it as a failure of the language and my mistake for using the word.
I realize hope isn't cool in this cynical world we live in, but I do hope I can provide a better life for my son, and I take action in that direction. Sure, a million things beyond my control and the control of all of humanity could throw a wrench in that "hope" but I'll just have to adjust course and keep moving forward. To me that's how life has worked for countless centuries.
Also, I didn't say I wasn't prepared. But I also know that reality doesn't unfold in the same manner as our plans. I am fully aware of the "I'm gonna get mine, screw you" mentality that permeates our culture. But there are a lot of people here who are decent and humane. I will do my best to see that the latter prevail.
I'm glad I let everyone know up front I am a seven day sinner.
Personally, I'm trusting the majority of people to maintain their humanity as things fall apart. The ones who will cause trouble will likely be taken out first, unlike the current predatory situation in which the jerk are rewarded.
__________________________________________
Ah, you can trust US citizens to maintain their nature because US citizen nature is eternal.
As to dealing with predators, well, predators will be seen through the scope of US citizenism which leads to quite a distorted self perception.
You can count on US citizens to patrol their hard earned property just the same way they did during the war pretendedly fought for freedom, when US citizens patrolled the plantations to prevent slaves escapes. It was not like slaves lacked freedom.
It would be very surprising indeed if US citizens lost their nature.
I am the Great Stoolman Mousy Tongue, enslaver of Tibet and murderer of tens of millions, and I approve this Chinese citizenism message.
Upgrade, move to US citizenism.
You will murder and enslave much more people.
The only horizon is the number of human beings peopling the Earth.
Be ambitious, switch to US citizenism, it will suit your needs better.
I am the Great Stoolman Mousy Tongue, enslaver of Tibet and destroyer of thousands of historical sites and artifacts in the misbegotten and psychotic "Cultural Revolution", and I approve this Chinese citizenism message.
Mount Rushmore? Does it ring a bell?
US citizenism is spreading in China so yes, it has consequences.
I am the Great Stoolman Mousy Tongue, babbler of inanities and disseminator of non sequiturs, and I approve this Chinese citizenism message.
However, with proper seasoning fractional Fed Reserve Notes are quite delicious.
Me: OK, I've given you arguments as to why it's not in a bubble. Why do you think it is?
Everyone I fucking know: Because the price went up!
Right the price went up in terms of fiat currencies BUT the value has remained stable since the dawn of man.
"the value has remained stable since the dawn of man."
Clearly this is a trek down the hyperbole road. I highly doubt that as soon as "man" appeared that he KNEW of the value of gold.
Also, what IF there was only ONE ounce of gold on the planet, what would IT's value be? I guess that this question goes to the matter of what effects extraction has on value. If you said that it's been stable since day one then that would mean that extraction has NO affect on value. There seems to be a bit of a disconnect here.
Sadly, given that only 1% of the world's population (or is it 1% of all "wealth?") has gold, then I'd think that the other 99% wouldn't be wanting to establish a system based on something that they don't have.
NOTE: Just a couple of things that seem problematic. I still concur that gold/PMs are grounded in reality, whereas fiat is not: fiat WILL self-destruct.
Fiat, hard currency, none resisted US citizen economics which is based on consumption.
As opposed to Chinese citizenism economics, which is based on poisoned pet food, lead-coated childrens' toys, toxic infant formula, plastic rice, public nose picking and roadside shitting.
http://www.truth-out.org/chinese-fascisms-global-consequences/1327694358
-------------------------------------
Article on US citizenism spreading in China.
Article on Chinese citizenism spreading throughout the world:
http://www.StoolmanMousyTongueEatsDirtyDiapers.com/
That is a nice world of fantasy you are building here.
Unable to connect with reality...
Dont worry, there are still billions of people out there in the real world to endure for you the cost of your life of denial.
You'll be dead before the stock runs out so you can keep playing your game as long as you want.
I am the Great Stoolman Mousy Tongue ... and how DARE you interrupt me while shitting on the side of the road as I promote my Chinese citizenism!