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Thanksgiving Tally: Lunatics And Hacks Win As Gold Up 19.3% YTD; S&P Down 7.5%
To some, only "Lunatics and Hacks" believe in gold and a system based on real money. To others, one look at the chart below showing the relative performance of gold and the S&P YTD is enough to determine who the lunatic and hack truly is.
Source: Bloomberg
As for the "some"...
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no 1 fuckwit
How is it fair that redneck doomers should be rewarded for simply sitting around watching nascar while they ’stack’ their precious metals, while hardworking and innocent investors lose money in equities. This is clearly not fair, and it’s time we stood up to these self-important pigs who constantly boast about their inflated and obscene profits. I would strongly urge the Obama administration to introduce an ‘equal opportunity in investments’ policy to tax windfall gains in the precious metals sectors and use the proceeds to compensate unfortunate equity investors.
Good one.
I object, I am not a hack or a lunatic. I'm just a traditionalist with a barbaric fancy for shiny inedibles.
My apologies. Didn't take my redpill recently.
Aaaahhh, MDB.. Your expertise at trolling is unmatched.
Have a terrible holiday
I thought the 'equal opportunities in investment act' was a little too over the top, otherwise some top quality trolling as always.
mdb is the King of Trolls. He keeps the real ones out by filling the niche.
Stay in your dreamworld while sucking on recycled waste in the real.
I prefer eating lobster and juicy steaks from the wealth my gold preserves.
One of your better lines, red.
I bought my gold purely cause I'm into metal, man. I thought it was a tribal thing. Guess it was my Texas Tea moment.
A barbarous relic is just one oxidation step lower than a barbaric relic.
Funniest comment on ZeroHedge EVER!!!
+ 6.02 E23
Saw a comment one day in which it was called the "barbequed relic". Couldn't tell if it was intentional or not.
I know of a man who has truly straddled the barbarous - he has stacks and his wife wears 24k solid gold jewelry (either way he's covered.)
And don't forget those of us who had the temerity To stick with our puts and shorts and dca all the way up and are now solidly in the green on trades that should have blown up in our faces.... Iow, me bitchez! Happy thanksgiving, I'm going straight for the veuve isle : )
i didn't get my sun microsystems windfall redistribution when i was holding gold back in 2000. Please pay back tax million dollar bonus
Some people connote "gold bug" as an epithet. I embrace it. In fact, I hold up the cockroach as a more specific symbol for the term. The cockroach is an amazing and adaptable creature. It endures in the harshest of environments. It will survive long after humans (and sheep) are extinct.
www.pmbug.com
It's a bit surprising that MDB received 25 positive votes for his diatribe. There must be more troll support than usual... Maybe it's a Thanksgiving thing?... Or, maybe his positive votes are for humor?
On the one hand MDB seems to believe in the equities markets and capitalism... On the other hand he abandons capitalism when his equities portfolio heads south... and, like any other azz hat banker he wants a socialist bail out from those that are holding PMs.
MDB... is your portfolio having a crisis of capitalism, or one of socialism...and, would you know the difference?
HAPPY TURKEY DAY TO ALL... Mmmmm GOLDEN oven baked turkey... and it's edible!
He's not a sadist but rather a satirist.
I would also urge Mr. Obama to applaud the blatant racism that took place on the Jimmy Fallon show, which was aimed at Michelle Bachmann. That is the leadership we need in this country. We need to reward the racism aimed properly against white people like that exhibited on Jimmy Fallon's show. That will teach those NASCAR rednecks to boo the fine first lady.
WORLD WIDE WHITE PRIDE, baby! where is the Congressional White Caucus? Where is the so-called 'equality' the progressive-left always screams about?
when do we get a UFC HW champ with "White Pride" tattooed across his chest?
We have cities getting sued by white firefighters who passed the test then got passed OVER for promotion that was based on the test.
"More diversity" always means more blacks even if their representation is already far in excess of their share of the population. And it leads to Detroit or Zimbabwe, as night follows day. Show me one fucking counterexample in all of history.
We can't nurture out nature.
maybe I took a few too many hits out of my friend's bong tonight, but it seems you and I see eye-to-eye on this. Every Founding Father I look at comparatively seems to resemble one-another. Perhaps, although it may not yet be realized, the proverbial ethnic demographic we relate to has always been correct, despite the many interruptions. Cultural Marxism has been with us a long while. Reversion to mean is indeed a bitch. The system has failed... We're here to prove it now!
Who the fuck is Jimmy Fallon? When did he get a TV show?
Yes indeed.
It is important that the government use its powers to promote equality and a level playing field.
We should not allow such inequality to exist
During these holidays, we need to be reminded of those less fortunate than ourselves: the globalist fiat overlords of the banking cartel.
Nouriel: "Gold is not relevant. Just ask bernanke and keynes."
Aaron: "What about James Rickards? What about the 10 year chart?"
Nouriel: "Only lunatics and hacks pay attention to charts."
Aaron: "..bbbut but but.."
Nouriel: "ENOUGH"
so you are opposed to affirmative action, then, and all the other racial set-asides and quotas that maintain this "white privilege"?
What if we had a system that relied on the best person qualified getting the position. Nah, wouldn't work. Let's just keep dividing people up into groups; ethnic, religious, sex, age, etc. This way everyone knows their place and the division and envy can continue.
"..promote equality and a level playing field."
Since you metioned playing field, the NBA is in dire need of Affirmative Action. There's not nearly enough diversity. And the NFL is discriminatory in its hiring practices.
Fine by me. Just discourages people from buying dollars with hard currency.
Would a large donation of brass & lead suffice?
thats cause redknecks is simpletons ans they derive everything back to its singularity... and da maths not too complex when you figure infinite growth is confined to a finite momma earths; golds.
city folks is different. complex, running around doing nothing, saying a lot; always selling, always hustlin. Dey have to give their money to people who talk complex promising a lot, delivering nothing, so they can run around with dreams in their head.
http://www.youtube.com/watch?v=I4s0nzsU1Wg
surely you jest.
In order to "bozo proof" yourself, you should state when you are being sarcastic. If you are not kidding, then forget it bozo.
It's all sarcasm, dude (dudette).
Sorry, sweetie, you blew your cover with this post.
One word for you: DIE!
K, thx, l8r.
LOL !!!
MDB, much better than other recent efforts.
Yes, but equity investors are disproportionately white.
Therefore any taxation should be given back to minorities who built this country, such as blacks and illegal mexicans who've arrived here in the past 10 years or so.
I mean, we owe a lot to these groups, we owe the traffic light to Garrett Morgan who invented it 10 years after it was already in Cleveland and was like the 60th patent for it. White people traveled back in time to steal his inventions, including the wheel and the written word and the transistor.
Until the playing field is leveled once and for all, all the affirmative action in education and government hiring, as well as racial set-asides in gov't contracting, scholarships, and welfare will do nothing more than maintain the white privilege that is experienced in superior outcome in working, invention, education, investing, saving, maintaining civilization, and sticking around after the baby is born.
I'd say their greatest invention has been peanut butter. And --- I'm not going to lie --- I heard a great deal about this accomplishment during my formative years in government school.
MDB, I believe you are RoboTrader and this is your 'therapy' avatar. Your posts are douchelicious.
I hereby retract my rule of junking your posts before reading them and offer my sincere apology for being so careless as to miss the subtle sarcasm. I sir, applaud you.
It was the phrases "hardworking and innocent investors" and "equal investment opportunity" that won me over.
My you choke to death on your fucking holiday dinner.
Great close, this roller coaster is going straight down like this, (Sommerrodelbahn, Mieders, Austria)
http://www.youtube.com/watch?feature=player_embedded&v=iqCkICXWdWI
nothing new here.
http://expose2.wordpress.com
That makes me a lunatic.
libertarian86.blogspot.com
Then I must be the hack.
Speaking of hacks, somebody took a hack at that bullshit ramp in the last five minutes...
Damn it's good to be a lunatic hack!
I know... It was glorious to watch in real time... Everyone dumping before the asian market nightmare tonight...
It's only two more days until the new moon. Just stay calm until it's past.
notice that on 11/11/11 at the 11th hour the up move in the market (hourly line chart) died and has never looked back.
Awesome headline.
sorry never been first had to do that... long live the shiney woo
you can still have gravy on yer mashed potatoes, as far as i'm concerned
YAY! for the fringe bloggers!
indeed i get a strong whiff of sanity amongst the insanity here on the hedge
But, But, But, it's down from it's all time highs....../sarc
Gold miners down 10%+ on the year...
Apples... oranges.
Apples....pieces of shit
Clearly you've been burned. Miners are for the super connected or super patient. Preferably both. I can see this is a difficult subject, I'll move on.
Look at the mining indexes and explain to me the rational behind the moves we've seen? Explain to me why companies are at levels they traded at when gold was trading at $600 an ounce? Gold moves up $1,100.. Major gold miners go absolutely no where.
Maybe since "they" have such a hard time knocking gold down they just kick the shit out of the miners. who knows.
It's a disconnect. They are treating mining stocks like bank stocks.
JAG- had a $9.30 bid on it by a chinese miner. Traded up to $8 and now trading in the low $7s.. That's $2.30 of free money but since jag is a miner, no one cares.
fonzanoon
IMHO< the ETF's are taking the miners Cash.
There is a lot of truth to that.
'Look at the mining indexes and explain to me the rational behind the moves we've seen?'
Like you I have more questions than answers, friend. The rational? Hee hee you're silly. I don't want you to be that crazy man walking down the avenue repeating: "The markets are rational" ad infinitum. Doesn't work like that. Let me tell where I'm at: I got a few favorite juniors I'm holding no matter what. Either the institutional $ comes or it doesn't. Bullion is a must of course. I've had no great returns since that Kinross/Red Back situation.
Either you have the stomach or you don't. I'm brainless + heartless.
I'm pretty sure this trade has damaged quite a few of my brain cells.
A bull is a brainless animal. If no tummy, stay away. Sorry to hear about the cells.
All extremes revert to the mean. Just wait.
The market can be irrational longer than you can stay solvent sadly...
I share your frustration, makes no sense but I'm in for the long haul even though I'm mostly physical. I picked up a couple of miners at the lows today (dumb luck) in another account I trade for a friend. I'm sure they'll tank another 30% :). I can't believe the values I'm looking at, trading at the same dollar value it had before it proved up another boat load of reserves and started production! Another miner I bought today just added 2 million ounces of gold reserves, currently at 6 million (anticipating 10 million by late next year, hopefully won't get bought by a major in the interim) and is trading lower than when gold was at $700ish, just crazy stuff! I'm hoping for an absolute rout so I can load the boat but I can't help but add some when I see these valuations. Keep the faith!
Well, some of them had hedged in at lower levels (e.g. Kinross, although they've unwound now). And I think a lot of hedge funds were long which means a lot of risk on/risk off bullshit price movements and forced liquidations in times of turmoil.
If you take a look at the 1970s when oil prices went through the roof oil corporations share prices didn't rise too much even though you would have made a substantial profit owning oil futures. Gold miners, like any company, are valued based upon future expected EPS which of course is reliant upon so many variables such as management and the policies they implement, input costs such as machinery (made with commodities that have gone up in price even more than gold in some cases), their productivity, debt:equity, etc. etc. etc. Quite frankly, anybody who thinks that gold miners are going to perform well simply because gold will perform well doesn't understand basic equity valuation.
It hurts. It hurts.
Roubini is/was partners with Larry Summers at RGE Global economics. His other buddy is Timmay. Any questions?
He is a money bitch and slut
You can't blame the guy. If he accepts gold, he basically admits his life lie. Gold replaces him (& his kind) subsequently rendering his life's work obsolete.
True that
Fiiiinally some one says it...
I'd rather listen to Latka than Roubini. They have similar voices but Roubini's bullshit is way more expensive.
http://en.wikipedia.org/wiki/Latka_Gravas
Roubini is a moron
Nouriel, good luck ever living down "lunatics and hacks"
We can add the phrase "lunatics and hacks" to "green shoots", "soft patch", "subprime crisis" and "tradition".
PS: Dear No-Real Rube-beany, fuck you, you lying Keynesian hack.
Gold obviously will compress the ~26% crash it needs to catch up to S&P. The race is on! Gold and Silver go up with equities and they too shall crash and bite the dust like the equities.
The velocity is differenct, but direction is the same.
Gold obviously will compress the ~26% crash it needs to catch up to S&P. The race is on! Gold and Silver go up with equities and they too shall crash and bite the dust like the equities.
The velocity is differenct, but direction is the same.
*************
With a comment that stupid-it's plain to see you don't know how to interpret a simple chart-
Here ya go-spend some time learning and try to enjoy-
http://home.earthlink.net/~intelligentbear/com-dow-au.htm
Yeah rub it in why dontcha?
But are you guys who own gold and no other investments going to be willing to trade it in if the Dow jones industrial average trades for an ounce of gold?
Thought not.
But are you guys who own gold and no other investments going to be willing to trade it in if the Dow jones industrial average trades for an ounce of gold?
Thought not.
************
if it reaches 1-1
Isn't that by historical facts-the exact time to sell gold and buy the DOW?
Exactly!
But they will cling to their gold and their guns and wont sell because at a one to one ratio it will look like all hell is about to break loose in the world.
They should sell then, but wont.
Wasn't it Lira who said that during Allende's term, you could buy a mansion for a car? I'm sure some will know a good thing when it hits them. Others will keep their car.
LOL...this isn't like history
Talk to me when the DOW is generating a ROI with cashflow and dividends instead of forward expectations of growth.
The old paradigm is gone. Or maybe fusion power comes at 1:1 and then u bail on the shiny.
Dr Doom is a Boob
Nation states going for the gold?
From Reuters late this afternoon:
German backing for issuance of joint Eurozone bonds is no longer being catorgorically ruled out in Merkel’s coalition
I have said all along that the end goal for this lap in the Global Race To The Bottom is the Eurozone gets to join the competition in ernest by issuing bonds, and then of course monetizing the debt.
You see, it really isn't a race to the bottom anymore. No, it is more like synchronized diving. All the central banks are working together...no bank left behind...everyone performing the same maneuvers...no currency goes underwater ahead of the other currencies.
When this competition is over, the central bankers will shake hands, head off to the next round, climb the platforms, and DO IT ALL OVER AGAIN.
Your finest today, I'm just not going to hide it anymore hh I'm a fan.
Regarding this upcoming EUtopia you speak of, it'll need a common Treasury, no?
Matters not, violence continues...
cannonball in pike position?
france and germany in sync?
Honestly... no clue. Everything tells me Germany is working on a back-up plan so-to-speak. It's all inconclusive, all in suspense.
Those divers don't look like they are having too much fun!
Interesting that this did not have any impact on markets. Maybe folks are beginning to think that even if ECB does go for broke with Eurobonds (or some other money printing scheme) that the game is really up and there is no easy way out.
Isn't it priceless though that nobody is paying attention to the USA any more!
was released after close i believe.
risk on.
Naw, that was around 3 ET. And, I'm certain I saw it floated much earlier in the day. Sorry, I can't cite the source.
PS no dis from me...
could be, first time i saw it hit the talking forex news wire was around the close though.
was going to sell my puts anyways, but the on the news i bought calls on ms for a dead cat bounce.
there are a number of commentators - i'm one - who have explained why this is inevitable. Once you understand the mechanics of the growth systems like creditmoney, this becomes obvious.
There is NO other way to make the accounting work. It would behoove everyone not to misunderstand and chalk this up to scienter or malice and just get that the math makes this happen. That's all there is to it.
If you can parse the kookiness of hypertiger, you will see the same statements. It's a matter of the growth needs not being met and they simply must be filled by printing or else the system itself will collapse.
Kookiness of Hypertiger. - my take on this guy is that once he absorbed this picture, he became terminally embittered and compensates by talking down to everyone as the doomsayer from hell. I have met a number of people like this who take refuge in their arrogance when all else fails them, using the little knowledge they have to put others down under the guise of teaching.
Fact is, there are lots of people who got this 10 or more years ago, some long before, and quite a large number now. It is easier than ever to understand now that chunks of the former reality are falling away. ZH is a whacky place itself, but at least we all enjoy some irony and humor through it all.
Even if there were no sociopaths leading the world with perverse money systems, we'd all be facing a difficult future for reasons of energy and resource supplies, etc. Better to get together, discuss, plan, laugh, etc than fret.
Cue Robo with the usual disparagement of miners.......
Well.. I own the miners and I think they are pieces of shit. I've made more than 4X my investment in gold but made next to nothing on miners in the past 4 years. They are the worst sector.. Period.
Agree they suk medium term, but for weekly and daily plays, they aren't bad. And they are cheap!
And getting cheaper
My sentiments exactly
Too much political risk involved with miners. The host country can nationalize the mine at any moment so it's value becomes ZERO for the investors/stock owners. This assumes that they don't experience any problems getting product out of the ground or mining costs that exceeding the products value.
Pray tell, what does not involve political risk anymore?
+1 Ex-fucking-actly.
Or lock in low gold prices with stupid hedges...
Yeah. Climate change another danger. Floods
+1 LJS; doesn't FCX have labor issues in Indonesia?
What mining stocks could you have invested in over 4 years and not make a return?
Roubini reminds me of Kissinger...you want to throw up when you hear him ramble on (both his thoughts and voice are so annoying).
I prefer Dr. Henry Killenger:
http://www.youtube.com/watch?v=hNqZ7qsWpJc
Can we add "Non-PhD" to that list? "Lunatics, hacks and non-PhD's" ... :D
Yeah. I resemble that remark, and I don't need it Piled higher and Deeper to figure out it wasn't the gold standard that caused the Lesser Depression of the 30's-40's, but fractional reserve banking.
This guy's an asshat.
in the absence of robo fuck you all
...and the XRT you rode in on!
Gotta P, just stopped by to LNKD.
and just stop with the netflix comments.
robo's at his fuckwits anonymous meeting today
Miners are run by clowns, if only they raised their dividends and stacked some of their production (why sell all your gold produced at market now if you can stack on your balance sheet and sell it at much higher prices later ). Thats only two of the ways, another is to buy back their stock smartly and opportunitsitically to counter short raids...
It still doesn't make any sense that they are trading the way they are.
I saw Roubini on CNBC a couple weeks back... His smugness about his certitude in being a bull made me want to piss on his face... He seemed a little to sure, like he knows something we don't, which wouldn't surprise me given his elitist connections... In any case, even if they turn the printing press back on in the near future we will probably have some time to make good on our shorts before that... And then, ride the gold/silver train back up...
Miners offer too much counterparty risk via nationalization. Hold it, protect it, own it.
"Hello, I'm from the Goobermint, and am here to relieve you of your physical."
- Mr. Abrams aka M1A1
I forgot hide it. Then the guys from the government can go relieve themselves.
Gold and silver judge paper. Paper is found guilty of fraud.
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
I'm crazy bitches! But I don't care cause I'm rich!
A fiat whore is still a whore. Fuck off Roubini.
I am proud to be a Profitable Hack.
I am Proud to be able to provide for my Family and Loved Ones no matter what happens with Paper (Fiat) Money, thusly I am a Proud Lunatic!
I am even more proud of my fellow Hacks and Lunatics here! fore, it is not every day that you see common sense in use on such a large scale.
God Bless ALL! of You(s) Hack, Lunatics!
Bitter boy Roubini just bitter he has been getting tooled trading ES while the smart "rednecks" have been stacking. I'll sell you some bits dickwad right near the top.
Roubini likes to debate the ocean and the stars. His bathtub provides water and his electric lightbulb provides light...until his house burns down. Then he can get a bucket of water from the ocean by starlight.
Woooow. Regretting already getting out of FAZ yesterday, hopefully there's another takedown soon...or I'll have to move back into paper gold and oil.
At least bloody NFLX is keeping going down. That company drove me nuts when it was worth $200+....
Who cares. Short it all and go long shovels.
The miners will have their day in the sun. Agree on all you say but I have a chunk of them and as frustrating as they can be at least they have real earnings, do not need bail-outs and you can read and understand their numbers, unlike many such as the banks. Sure there is risk, but can you spell GRPN.,
When the sheeples finally realize that gold is not going back to 800, then they will get involved. Part of the furstration is when we have some decent profits and the market does its bi monthly tank, they sell them since that is where the real profits are.
No one every said this was easy, but I am keeping my miners along with my gold and silver.
nroubini@stern.nyu.edu
U Clueless Economic POS
“There is no means of avoiding the final collapse of a boom brought about by credit expansion.
The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” ~Ludwig Von Mises AKA NOT A LUNATIC OR HACK like you - you effing POS clueless economic moron who I wouldn't let teach my dog how to count.
This is precisely why we are where we are today-----there are only a handful of good economic teachers & you NR are not one of them.
There are real economists. Then there are government sponsored economic alchemists trying to hocus pocus an outcome.
So what asset class returned 30 percent this year?
Hint. It has a better thirty year return than stocks and gold.
Hindsight?
Of course its hindsight.
I have never owned a goddam thirty year usa treasury bond in my life. I would never touch them.
It would take a real contrarian to have dollar cost averaged into thirty year usa treasurys since 1981. Or my clueless progressive pro government sister who doesnt want to own stocks or gold.
LOL! I have one of those too. I love the "Buy gold? Gold's too fucking expensive!" response. I always just laugh my ass off. She honestly doesn't get it and I'm not one to try and nail jell-o to a wall either.
Happy thanksgiving man. Don't forget money is money and paper is paper.
...and hindsight's 20/20 -- not 30% YTD. Gold + FAZ >30% YTD ;)
So what asset class returned 30 percent this year?
************
Don't count your chickens until they hatch son-
The year isn't over yet-about 40 days left and with this shitshow unwrapping at warp speed-everything can change-in a new york minute-
Sell everything and go into dollars, seems to suit you. Gold is not messured on returns, it is meassured on VALUE and fiat money printed out of thin air has none.
Well done tekhneek, my thoughts exactly.
Roubini made one very obvious call on the housing market and that somehow qualifies him to be the economist all these rectums in the news media pay homage too. Well, I am a regular guy and my net worth is up over $1 mil in holding only Gold while all my genius Phd friends many who took his and others advice and told me I was a nut have lost their asses in stocks. So keep the price suppressed Mr. Roubini because I want more of this junk at a lower price, you keep the paper money.
Happy T day fellow ZH lunatics and hacks. PM victory is sweet so drink a toast to the sheeple and their fiat leaders to wish them well. They are going to need any prayer of goodwill that drifts their way.