Humean_Nature: You think Beck actually has gold stocks? He just gets paid for the commercials.

Be that as it may, he's never far from a crying jag.

So I graphed out gold prices over the past decade and it reminds me of the beginning of a roller coaster where you're riding up to the big drop

So now is a good time to buy, right?

antidisestablishmentarianism: Makh: Can you tell that I just came back from a (war on) Christmas with them?

It was all Scott Walker talk at our Christmas gathering. That was inevitable thought because of his stupid ass commercial t (new window)hat has been running for weeks now.

Same. If my eyes were lasers, they nearly burned a hole through my mother.

Kazan: Mugato: WTF is Glenn Beck and why do I keep hearing about him? I know he's not a guitar player in a band from the '70s and I know he's not a member of a hipster band from the '90s so WTF does his name keep coming up?

[notsureifserious.jpg]

In the age of Google, such a question is either unserious or asked by a lazy idiot.

blorpen: So now is a good time to buy, right?

Good time to buy BEANIE BABIES!@!

While speculators in New York futures are the least bullish (.MMGCNET) in 31 months, the median estimate in a Bloomberg survey of 44 traders and analysts is for prices to rally as much as 40 percent to $2,140 an ounce in 2012.
...
Bullion's 7.6 percent gain in 2011 means it's on track to beat stocks, bonds and the dollar for a second straight year.
...
Options traders are also bullish, with the top nine holdings all betting on higher prices. The two most widely held contracts give holders the right to buy gold at $2,000 by the end of March and May, data from the Comex exchange show.

Terrible investment, indeed. Other than Apple stock, I'm not aware of too many investments that are up 500% in the last decade. Soros thinks it's a bubble, the market seems to disagree (though, in fairness, that's how bubbles work). Time will tell.

Yes, but the conservative sandwich-heavy portfolio will continue to pay off for the hungry investor.

Hey, if the price of that shiny sh*t crashes, I'll be able to nab some.

I blame that gold rush show they are pulling so much out of the ground its causing the price to drop.

oren0: ...I'm not aware of too many investments that are up 500% in the last decade.

Real estate.

Mugato: jjorsett: Kazan: Mugato: WTF is Glenn Beck and why do I keep hearing about him? I know he's not a guitar player in a band from the '70s and I know he's not a member of a hipster band from the '90s so WTF does his name keep coming up?

[notsureifserious.jpg]

In the age of Google, such a question is either unserious or asked by a lazy idiot.

Well I'm not arguing either. I do realize that he's a right wing radio guy but beyond that, I don't know why he's so oft quoted and why his opinion is so important. There are plenty of right wing radio guys out there. Who did he blow to be so relevant?

The Koch brothers?

For once there's about to be a bubble pop and I'll have money to do something with it...

Bubbles pop, values plummet as everyone tries to get back what they put in during the inflation period, prices drop well below the appropriate value (where prices should have been all along) and that's where you swoop in like a vulture.

I'd be willing to bet you can get gold for $400/oz by July 2012, and sell it for it's appropriate price of $800 by December.

2015.

How much a bet? 15% of my assets if gold hits $400. 25% if gold hits $300.

/My day job looks likes loaves and fishes in terms of returns
//But it's turning out improbable to compound.

The drop in gold may spur more buying from central banks...

Now why would they want gold?

Oh yeah. Tradition.

downstairs: Can one short gold?

yes. Go "long" with gll or dgld if you don't want a real short position

wildcardjack: I'd be willing to bet you can get gold for $400/oz by July 2012


You'd lose that bet. Hard.

Gold isn't going below $1000 for the next decade.

oren0: While speculators in New York futures are the least bullish (.MMGCNET) in 31 months, the median estimate in a Bloomberg survey of 44 traders and analysts is for prices to rally as much as 40 percent to $2,140 an ounce in 2012.
...
Bullion's 7.6 percent gain in 2011 means it's on track to beat stocks, bonds and the dollar for a second straight year.
...
Options traders are also bullish, with the top nine holdings all betting on higher prices. The two most widely held contracts give holders the right to buy gold at $2,000 by the end of March and May, data from the Comex exchange show.

Terrible investment, indeed. Other than Apple stock, I'm not aware of too many investments that are up 500% in the last decade. Soros thinks it's a bubble, the market seems to disagree (though, in fairness, that's how bubbles work). Time will tell.

Soros was long gold last year, I believe he sold most of his position sometime in June or July?

I have 100 gold canadian leafs I bought so long ago, I forgot what I paid for them. I take them out once in awhile and fondle them. Saving them for the dark days when paper currency is no longer valid or accepted. Then I will rise like the Phoenix and buy everything I ever wanted with just one of them. Muuuuwaahaaaahhaaa....

jigger: wildcardjack: I'd be willing to bet you can get gold for $400/oz by July 2012


You'd lose that bet. Hard.

Gold isn't going below $1000 for the next decade.

"Willing to bet" is a funny thing. How willing? I'm sure you could get a steal on some options at that price and make a killing if that were true.

My AK is already gold plated, so I should be alright.

Hydra: It'll be funny to look back through this thread after gold has gone above $2,000.

But it'll still be a bubble then according to the Fark Financial Advisors here, of course.

Your comment will be especially funny once gold slips below $500.

Since the early 1980s or so, the USDollar price of an ounce of gold has seemed to track the USDollar price of a barrel of oil. Usually, the factor is pretty near 16. There's the speculator aspect to either commodity, but even that averages out over time. This last year there seemed to be a departure from that tracking trend, but that seems to have worked itself out.

MrEricSir: oren0: ...I'm not aware of too many investments that are up 500% in the last decade.

Real estate.

Wrong.

MrEricSir: Hydra: It'll be funny to look back through this thread after gold has gone above $2,000.

But it'll still be a bubble then according to the Fark Financial Advisors here, of course.

Your comment will be especially funny once gold slips below $500.

And wrong again. You must enjoy being wrong.

wildcardjack: For once there's about to be a bubble pop and I'll have money to do something with it...

Bubbles pop, values plummet as everyone tries to get back what they put in during the inflation period, prices drop well below the appropriate value (where prices should have been all along) and that's where you swoop in like a vulture.

I'd be willing to bet you can get gold for $400/oz by July 2012, and sell it for it's appropriate price of $800 by December.

2015.

How much a bet? 15% of my assets if gold hits $400. 25% if gold hits $300.

/My day job looks likes loaves and fishes in terms of returns
//But it's turning out improbable to compound.

lulz - what happens if there are allot more people out there with vastly higher numbers of what they think that stuff is worth? -- What if allot of the market thinks even 900$ is a steal?

Im not saying its not a good plan - its a great plan if you can ever get gold to fall below true value. I just suspect that so many vultures are circling gold that they continuously tear it into shreds so the value never falls. The moment it takes even the slightest dip someone somewhere fires cash into it thinking its a winning deal.

you wont make a big short gain in gold because to many people are willing to make smaller long gains in gold.

\My financial world experience consists of tuning in to the Langdon O'leary exchange once a month so no i don't know what i'm talking about.

Atomic Spunk: And wrong again.

[citation needed]

Cerebral Infarktion: My AK is already gold plated, so I should be alright.

You have gold-plated cat barf? That's pretty fancy.

Atomic Spunk: MrEricSir: oren0: ...I'm not aware of too many investments that are up 500% in the last decade.

Real estate.

Wrong.

MrEricSir: Hydra: It'll be funny to look back through this thread after gold has gone above $2,000.

But it'll still be a bubble then according to the Fark Financial Advisors here, of course.

Your comment will be especially funny once gold slips below $500.

And wrong again. You must enjoy being

wrong.


Well in a way he's right. And you are right. There is actually now two gold prices: one for paper gold, one for actual physical gold. The COMEX is imploding as we speak. Due to the MF Global meltdown, large investors have seen that these crooked middlemen will rob you blind, steal your money, sell off your futures contract, and you have little hope of any recourse. So they are now bypassing these crooks completely and going directly to miners for their gold.

So although we see the price of gold dropping, what we are really seing is the paper price of gold dropping, and the physical price creeping ever so slightly higher than the paper price, the famed 'decoupling' that has been predicted by so many is now actually upon us. We will continue to see a larger and larger divergence between the two, until soon the COMEX goes up in smoke (i.e. the world sees that the emperor really does have no clothes, and the COMEX really does have no gold).

The whole MF Global bankruptcy was really about saving the COMEX for just a little bit longer, kicking the can down the road because they were unable to deliver on their gold and silver contracts.

So yes, paper gold will soon be $0, and physical will eventually pass the Dow.

Newtons law. It works for stocks too

Unfortunately the financial problems are still there. Until they are fixed, gold will be high. Artificial or not, where else will big money go?

Gold is headed for it's11th annual gain. Deflation may drive gold and silver down for a while but it will hit fresh highs. I amsure thankful didn't sell my precious metals when fark told me to. When inflation kicks in a few years you will wish you had a store of wealth.

Gold has a traditional relationship to THE commodity, oil. Also it reverse tracks the strength of the dollar. When the momentum players are out it will be gold around 900-1000 and silver 14-16.