Yep,i guess it all depends on when you decide to enter on the gold market,if at all.
There was certainly a pullback earlier, so for those who entered at that point,its probably been difficult--but my point was that you have been slamming gold consistently from the start, so those who followed your advice would have lost an excellent opportunity--by the time the pullback came i doubt most would have found your advice credible.Theres a time to be bearish and a time to be bullish.
Those who choose one, and follow it blindly do so at their own peril
Fed To Ease As Fears Continue To Propel Gold & Silver Surge
Today acclaimed money manager Stephen Leeb told King World News, “Right now you are seeing fear ... This is why you are getting this kind of surge in the gold and silver markets because investors are realizing that policymakers are in trouble.” Leeb also reiterated what he predicted in his last KWN interview, which is that the Fed will ease at its September meeting. It is now looking like he was correct on that prediction.
Here is what Leeb had to say: “Today a rally in gold and silver was sparked when the US reported terrible jobs numbers, and no gains in wages. But we’ve seen lots of gains in energy prices lately, and this move in gold comes on top of a great deal of stimulus. Europe, this week, announced unlimited bond purchases, whatever that means. We do know that means they are going to be buying a lot of bonds.”
Stephen Leeb continues:
“We are going to have to inflate. We are going to have to stimulate, and this means paper currencies are going to be worth less. It means people are going to be in a desperate search to buy things such as gold. This breakout in gold and silver is a big deal because it is further acknowledgement that whatever we are trying to do is not working.
This means we are going to have to pump more and more money into the system. So as I said, the money will become worth less....
“That’s the bottom line when it comes to the paper money.
So if you are China, as an example, and you know you are going to have to buy resources, you know you are not going to be able to buy as many resources going forward by sitting on the $3 trillion you have because those dollars are becoming worth less and less as we print more and more.
The same thing is true for the euro. So if you are China, you are going to be looking for something that people will accept, and that’s gold. It’s that simple. I would also add silver to that list as well because silver is a monetary metal. Not only is silver a monetary metal, and it’s accepted as being a monetary metal, but it’s also a critical industrial metal.”
Leeb also added: “Right now you are seeing fear. People want something they can count on because they are losing faith in our leaders. That is why you are seeing this move in the metals. People know that the words these politicians are speaking are having no effect on our economy.
So investors are taking matters into their own hands. The more these politicians talk, whether they be Democrat or Republican, the more people realize they have no solutions. How can you have a convention, in times like this, when you are looking at record droughts for the past 70 years, record corn prices, the marginal cost of oil at $100, where you are not hearing any of these words mentioned even once by these politicians?
It doesn’t even make sense. It’s like they are living on another planet. Who’s speaking for the people? I watched both conventions, and I don’t think I can remember one person using the words food, water or energy. They weren’t in anyone’s speeches.
If you move over to Europe, we are seeing a dramatic rise in suicide rates and mental health disorders. People can’t feed themselves, and many people are showing signs of a good deal of mental stress and difficulties. And I should add that in the US, 25% of the population is spending 50% of their income on food and energy. Well, it is also true that in Europe that middle-class is going through these same struggles and in many instances it’s worse.
This is what no one is talking about and I don’t get it. There’s a lot of talk about same sex/different sex marriages, but what difference does it make what sex your partner is if you can’t serve he or she dinner? What if there is no dinner and no food in the cupboard?
This is why you are getting this kind of surge in the gold and silver markets because investors are realizing that policymakers are in trouble. They have to stimulate. They have to see to it that as many people as possible are employed. So the gold and silver markets have much further to run.
One day gold will be part of any major currency basket. And people have to remember that outside of the majors, the only meaningful supplies of gold are contained in the juniors. Those quality stocks will go up at least ten fold in price, Eric. But regardless, everybody has to have something in precious metals.”
As far as gold's concerned India's dead, China's dying, resources, materials and commodities are at death's door.
Are you serious Skol or just blowing your whistle to see how many dogs will bark? I suspect your toungue must almost be ready to push right through your cheek.
the Stephen Leeb article is the second Ive seen today basically saying the same thing--check out the Frank Giustra interview on u tube. [ Losing faith in the politicians] the link is on the depression in the usa link[he is predicting major inflation though]
Are you serious Skol or just blowing your whistle to see how many dogs will bark? I suspect your toungue must almost be ready to push right through your cheek.
Of course I'm serious, gold sales in India are at a net zero after scrap gold is taken into account.
Gold sales are plummeting worldwide, yet gold's going up, probably ETF based, and you know what happens when supply exceeds demand, or shall I spell it out?
"and you know what happens when supply exceeds demand, or shall I spell it out?"
That is OK, Skol, you have already spelt it out about a year ago and every year since you started this entertaining thread. The spelling a year ago was p a r a b o l i c
"and you know what happens when supply exceeds demand, or shall I spell it out?"
That is OK, Skol, you have already spelt it out about a year ago and every year since you started this entertaining thread. The spelling a year ago was p a r a b o l i c
I was correct, it went parabolic and it's been a lame duck ever since.
Settle down mate. No offence intended. I always assumed this thread was always more intended to wind up Goldbugs than a debate on the merrit of Gold but if the merrit of gold it is then what do you reckon about this wee picture.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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