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(CNBC)   QE3 sets sail on a voyage that is sure to end in a sinking   (cnbc.com) divider line 9
    More: Interesting, Federal Reserve, Asian Tigers, small-cap, investment strategist, open market, Federal Reserve Chairman Ben Bernanke, money creation, interest rates  
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2118 clicks; posted to Business » on 13 Sep 2012 at 3:41 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-13 03:16:13 PM  
3 votes:
Market is up big today. Looks like Wall St. likes a little bit of Socialism.
2012-09-13 08:32:25 PM  
2 votes:

HotIgneous Intruder: Atomic Spunk: Woot woot!
[www.screw-paypal.com image 300x300]

I'm pretty confident gold will break it's nominal high of $1,920 sometime before the end of 2012 and will break it's inflation-adjusted high of $2,300 by Q1 2013.

A noteworthy investor who is now bullish on gold - Bill "Bond King" Gross of PIMCO. He made billions in bonds over his career, but he said last week that in the current market environment, gold is better than stocks or bonds. Also increasing their gold purchases in 2012 - George Soros, John Paulson, Dennis Gartman, the central banks of Russia, China, South Korea, Turkey and Mexico.

I'd say the bubble is starting to inflate, but there's still a couple years before this thing gets too wild and pops. I'm going to enjoy this ride, though.

This is amazingly myopic.
If it ever comes to it, Uncle Sugar is going to confiscate your precious gold and give you some paper for it. And if you have gold and the mess crashes, which it won't but I don't wanna bust up this delusion, who will you call, who will the millions of idiots call, to cash the stuff in? Are you going to show up at the 7/11 with the papers that say you "own" gold and redeem them? Oh, you're going to trade it for beans and bullets. Right. Until somebody takes it from you on the street. Unless you take physical delivery of your gold, IT EFFECTIVELY DOES NOT EXIST. And if the fecal matter hits the oscillating rotary displacement device, who's going to redeem that paper? How many mocha grande lattes can you get for a gram of gold? Google "more gold sold than exists" and watch the fun.

Enjoy the bumpy plateau, doomer.


You must have me confused with someone else. I'm not a doomer. Society will chug along just fine with maybe a hiccup here and there, to make things interesting. I'm not planning on holding my gold forever. Someday there will be a bubble, and shortly thereafter, the bubble will burst, but I'll hopefully be mostly divested by then. I own bullion (yes, I have it in my possession) but I also own gold stocks which are experiencing a nice turnaround. I'm an investor trying to make money and have invested in precious metals for about 25 years..

pmdgrwr and I have been the only people I have seen consistently in the Business threads related to gold that have been championing the metal for the last year and a half. Nearly everyone else posting was claiming that gold was a bubble in late 2011 and it had popped. It's funny that many of those who said that still continue to post in gold threads, but won't admit to the fact that they were completely wrong about gold. No doubt, they'll probably be the ones to capitulate and start buying just when gold is reaching it's peak. Suckers.

I enjoyed your rant, even though it was entirely misdirected.
2012-09-13 04:46:35 PM  
2 votes:
Woot woot!
www.screw-paypal.com

I'm pretty confident gold will break it's nominal high of $1,920 sometime before the end of 2012 and will break it's inflation-adjusted high of $2,300 by Q1 2013.

A noteworthy investor who is now bullish on gold - Bill "Bond King" Gross of PIMCO. He made billions in bonds over his career, but he said last week that in the current market environment, gold is better than stocks or bonds. Also increasing their gold purchases in 2012 - George Soros, John Paulson, Dennis Gartman, the central banks of Russia, China, South Korea, Turkey and Mexico.

I'd say the bubble is starting to inflate, but there's still a couple years before this thing gets too wild and pops. I'm going to enjoy this ride, though.
2012-09-13 10:40:35 PM  
1 votes:

PDid: So when will you call the top and divest?


I won't call a top and divest, but rather I will start selling piecemeal when it passes $1,895 which is the highest nominal close to date. I'll also sell a bit when it passes $2,300 or so, which is the inflation adjusted high. And while that's happening, I will be watching for signs of "frothiness". Examples: Newbies to precious metals investing will speak about the metal as if they were experts (I remember this happening for NASDAQ stocks during the high-tech bubble). We Buy Gold stores will start closing down in bunches because people are so enamored with gold, they don't want to sell (or they've sold already and have nothing left to sell). P/E ratios for major gold stocks will exceed the average S&P P/E by 50% or more. The general statements made about the metal by the media as well as the "man on the street" will be overwhelmingly positive, and instead of most people thinking that gold investing is risky (as most people do now), people will think gold investing is safe and NOT owning gold is risky.

I also am in contact with a friend who is in the gold exploration industry and I'll rely on his advice from time to time. He's been at this for a very long time, and although he's an industry insider, he's not in love with gold as an investment. I trust his objectivity.
2012-09-13 10:22:37 PM  
1 votes:
people don't have confidence in our economic system because of actions just like this. We know our economy is being propped up. We know it can't last. We are all just waiting for the other show to drop before we get along with our fiscal lives.

The best thing to do at this point would be to let the institutions fail that are going to fail, let the Euro die, everybody writes their losses down and we start from scratch.

All of these economic contrivances are slowing down the recovery.
2012-09-13 07:47:27 PM  
1 votes:
So many FarkProgsTM like GAT_00 and Tyrantll in this thread have no idea how astronomically bad for the economy this is and how the disasterous consequences will be. This thread will be sad to look back on once the dollar loses its status as the world's reserve currency. It'll hurt to say "I told you so" when that happens, and the Fed has sealed its fate with its announcement today.
2012-09-13 05:02:03 PM  
1 votes:
*Bernank cracks whip*

Whaa-pishhhh!!

"Consume damn you!! Consume!!"

Whaa-pishhhh!!
2012-09-13 04:51:14 PM  
1 votes:
I'm liking silver.
2012-09-13 03:37:49 PM  
1 votes:
So...how much is a loaf of bread going to cost next year? People will be biatching then.
 
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