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(BusinessWeek)   Gold loses its shine. There's still time to sell   (businessweek.com) divider line 20
    More: Obvious, GSCI, bear markets, South China Morning Post, spot prices, SPDR Gold Trust, gold reserves, printing money, MSCI  
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1339 clicks; posted to Business » on 16 Apr 2013 at 8:31 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-04-16 07:46:54 AM  
www.wearysloth.com

There comes a time, Farker, when the jewels cease to sparkle, when the gold loses its luster, when the throne room becomes a prison, and all that is left is a father's love for his child.
 
2013-04-16 08:51:07 AM  
I think back-to-back contradictory headlines are better when they have the same source.
 
2013-04-16 08:54:34 AM  
thankfully yard sale weather is beginning and the wise investor can once more stock up on rare and valuable decorative collector plates.
 
2013-04-16 08:57:11 AM  
Sell, Mortimer!  Sell!
 
2013-04-16 09:03:10 AM  
It's a non-performing asset.
 
2013-04-16 09:30:29 AM  
Goldman Says Sell

Time to buy.
 
2013-04-16 10:11:12 AM  
Ouch. Thanks Goldman for the heads up with your short position you open two days before the sell off.
 
2013-04-16 10:19:07 AM  

Pants full of macaroni!!: I think back-to-back contradictory headlines are better when they have the same source.


True, but I always get some lulz out of them even when they aren't. It just goes to show that media investment advice is worth about what you pay for it.

By the time the media latches on to the Next Big Investment Fad, it's already too late.
 
2013-04-16 10:39:13 AM  
Since so many of the "metalheads" are Ron Paul types, part of me would love gold to tank. Idiots all of them.
 
2013-04-16 11:06:48 AM  
It's the Fed's fault for printing too much gold.
 
2013-04-16 11:10:06 AM  
numbdrum.com
 
2013-04-16 11:10:56 AM  

PC LOAD LETTER: Since so many of the "metalheads" are Ron Paul types, part of me would love gold to tank. Idiots all of them.


They also like bitcoin.

It's been a rough 2 weeks for them.
 
2013-04-16 11:25:35 AM  
Hey, did you see what gold is doing today? 10:24 CST up $53.00

Not exactly panic selling at this point.
 
2013-04-16 11:36:44 AM  

impaler: PC LOAD LETTER: Since so many of the "metalheads" are Ron Paul types, part of me would love gold to tank. Idiots all of them.

They also like bitcoin.

It's been a rough 2 weeks for them.


The ones I know are two paranoid to own bitcoins. They want physical gold. And the last I heard, it's very hard to get the actual physical metal right now.

It seems the sell off is mostly among those who own the ETF. Those who want the real item are buying the dip. They are either the smartest people in the room, or they are drinking a double dose of the cool aid. Time will tell which is true.
 
2013-04-16 11:37:02 AM  
Gold's a store of value in the range of $700-$800 or genuinely numismatically interesting coinage.
 
2013-04-16 03:41:38 PM  
Silly goldbugs. This is why I only invest in Greek treasury bonds.
 
2013-04-16 04:59:22 PM  

BigBooper: impaler: PC LOAD LETTER: Since so many of the "metalheads" are Ron Paul types, part of me would love gold to tank. Idiots all of them.

They also like bitcoin.

It's been a rough 2 weeks for them.

The ones I know are two paranoid to own bitcoins. They want physical gold. And the last I heard, it's very hard to get the actual physical metal right now.

It seems the sell off is mostly among those who own the ETF. Those who want the real item are buying the dip. They are either the smartest people in the room, or they are drinking a double dose of the cool aid. Time will tell which is true.


Dead cat bounce on the way down.
 
2013-04-16 07:06:38 PM  
I do hope silver keeps falling as well. Now that I got a little extra money coming in I want to start buying silver coins. I inherited a small silver collection from my granddad and its got me interested in it again. I've always been a sucker for Morgan dollars and I want to start buying them again.

I also want to buy a gold coin minted in Dahlongea but those are out of my price range now.
 
2013-04-16 07:28:32 PM  

PC LOAD LETTER: Since so many of the "metalheads" are Ron Paul types, part of me would love gold to tank. Idiots all of them.


Actually, those who study the market (as opposed to those who read news stories about the market) saw this coming. It's been predicted, even by those who are staunchly bullish on gold, for quite a while, and we "idiots" are making a killing.
 
2013-04-16 07:44:44 PM  

BigBooper: impaler: PC LOAD LETTER: Since so many of the "metalheads" are Ron Paul types, part of me would love gold to tank. Idiots all of them.

They also like bitcoin.

It's been a rough 2 weeks for them.

The ones I know are two paranoid to own bitcoins. They want physical gold. And the last I heard, it's very hard to get the actual physical metal right now.

It seems the sell off is mostly among those who own the ETF. Those who want the real item are buying the dip. They are either the smartest people in the room, or they are drinking a double dose of the cool aid. Time will tell which is true.


I'm probably in the wrong part of the country to see many of these idiots firsthand, but my understanding was that most of the recent activity in bitcoins was due to a combination of currency speculation and people in poorer Eurozone countries deciding that bitcoins were a safer investment than a savings account in a Eurozone bank.

I did hear a second-hand story about a former customer of the investment house my mom works for, who panicked when he heard the news from Cyprus and assumed that Obama would soon be coming for our savings (you know, just like he came for our guns).  So he decided to sell all of his investments, cash out all of his bank accounts, and then hide the cash (which now accounted for all of his liquid assets) in his mattress.  Of course, if he's so paranoid, he probably shouldn't have told anyone that he was hiding a big pile of cash in his mattress...
 
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