iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,515 Blog Posts

Gold is For Traitors

Support your country: go long dollars.

Actually, you can go long dollars; I will continue to buy other things, like coffee, oil/natty and Chinese slavery plays.

Asshat of the Decade Award coming soon to a blog near you.

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73 comments

  1. omfgitsjd

    I agree. The dollar is a good answer.
    Buy the stuff you know is good but is out of fashion and low. 🙂

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  2. TA

    LOL fantastic title!

    You forgot about how most of your money is currently going to useless presents for asshat relatives but otherwise it was just about perfect.

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  3. Steve Place

    The US Dollar is the world’s largest effective long position. The odds of a Zimbabwean move in the currency are approaching zero.

    Also, watch for neg correlation of domestic equities and the dollar to mean revert towards 0:
    http://chart.ly/agkxhs

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  4. Dr Fly

    Approaching?

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  5. Spooky

    I’ll aye to that. All the Gold lovers are essentially wishing the world would revert to totemism and idol worship. Underneath all the doom and gloom is paganism! And we thought that the monotheistic religions of the book had finally conquered all that!

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    • Dr Fly

      Agreud!

      Fucking pagans!!!

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    • Sir Prime Bean of Caffeine
      Sir Prime Bean of Caffeine

      They seem to ramble on about things such as fiat currency, inflation being a slow hidden tax, a 1 oz gold coin always being able to buy a suit (maybe a poor man’s suit), and the end of the world.

      These morons don’t realize that if we actually went all Mad Max, gold wouldn’t matter until sociedad returned to order. Some guy would bust down your door, kill you and your family, take your food and anything else of value, and move on to the next asshole who couldn’t defend his shit. We’d be bartering in bartertown long before gold became useful.

      What would lead to thunderdome anyway? NOTHING! Say the USD collapsed overnight… you don’t think we would unveil some new solution the next day? Amero partnership with Mexico/Canada, or a new gold backed currency, etc? I’m sure the guys who run the world have contingency plans for bullshit like that. Regardless, ‘taint gonna happen while commodities are traded in USD, the US GDP #1, and the US consumer is the most powerful force on the planet. Am I wrong?

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      • Braveflaps

        Right or wrong, you are +3 for use of the word ‘taint’.

        Mazel!!

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      • omfgitsjd

        The people of the United States are the most powerful force in the world.

        I’m thinking the dollar will be back eventually. No to the Amero. No to gold. Keep going after stocks and cash while it’s low. Anyone who wants to try and ride gold to $2000, be my guest.

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  6. A monkey with a dart board
    A monkey with a dart board

    No restaurants? EVER?

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  7. Purdy

    Why does Jake hate America?

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  8. j

    Jake doesn’t hate America. Correctly and unrepentantly he despises the Demolition party. These are two independent things.

    I for instance love America and find the Demolition party totally despicable.
    ———————-

    I tend to agree about the dollar. I think the worm is turning on that one. However seeing its flow driven it’s all dependent on what large 2nd tier central banks are doing with the buck. The Euro truly deserves to be around 1. The yen should eventually make it’s way to 200 (not kidding).

    For a decent trade you could buy dollar yen between 88 to 85 and and then wait for BOJ intervention with a stop at 80ish. Intervention should eventually make it a 3:1 trade.

    My current position is long Aussie against the Euro which has actually funded my entire living expenses this year plus left some mullah in the bank for a rainy day. Haven’t been greedy. When I need some money to fund the house account I just sold Euro Aussie to fund it. 🙂

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    • JakeGint

      Don’t say that to Purdy. That is shit he just does NOT want to hear.

      Purdy’s got it all figgered out see — he’s going to endorse a new Mega-bureaucracy, a “super EPA” if you will — that will decide just how much everyone who breathes owes to the federal gummint.

      This bureaucracy will be run by Purdy’s favorite politician, John “Effin'” Kerry.

      Purdy, you see, is a great American.

      _________

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      • TA

        Take solice in the fact that the greatest triumphs are born of pure shit. That’s why I refuse to write off the US and their debt addiction as pointless with no hope.

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    • omfgitsjd

      This guy has issues.
      http://www.youtube.com/watch?v=4Q4RsmG6bzc&feature=related

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  9. Dr Fly

    Jake loves America, which is why he hates coffee.

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    • JakeGint

      I love coffee.

      Coffee gimmickry, not so much.

      _________

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      • The Fly

        You just said you like the idea. Which opinion will stick? Or, could the absurd valuation of 25x eps deter you from chucking ups to the trash heap, in exchange for?

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        • JakeGint

          I’m well aware of UPS’ valuation problems.

          I need some taxable losses, here, and I may let fly 10k shares or so.

          First, I need to get my speech ready for “she who will not be easily placated.”

          _______

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  10. Dr Fly

    RC will fill you in on why you should never eat out.

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  11. Bobby Boucher

    Anybody else see the latest edition of SFO mag? I was spending some quality time on my throne yesterday perusing it. Saw an ad for PFG Best Precious Metals. They’re advertising a precious metals accumulation acct. The investor agrees to send in a fixed amount each month and the investment performance is tied to metal prices. At any time the investor can cash in the value of the acct for gold or silver coins in any currency minted by a central bank.

    Not sure if these accts are a new product or not but couldn’t help but think they gotta be a sign of at least a short-term top in metal prices.

    Once metals come back in price I would like to own some coins (metal money has always fascinated me for some reason). But wanna make sure I’m getting genuine mintage. Anybody ever buy coins from PFG and can attest to their legitimacy (sic)?

    fid

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  12. JakeGint

    Music to my ears.

    Save this post.

    When Fly, and Purdy, and TA, and all the other good Americans (okay, TA’s not an American) who voted for Obama are (finally) buying gold– out of desperation, that’s when you want to be selling.

    Again, save this post.

    (I already have, heh).

    ____

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    • TA

      I don’t need gold, I have Loonies galore backed by oil, natural gas and basic materials(the ones that get consumed)

      Gold is for traitors!!!

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      • JakeGint

        Gold will surpass even your fiat loonies.

        But I will admit, I like loonies better than loonie (U.S.) bucks.

        ___________

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    • the anti-fly

      Better yet, Jake, go back to the Fly’s “Gold is a Clown” post, from one year and $500 AN OUNCE ago.

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      • JakeGint

        He knows.

        He’s just trying to annoy me, in a tsetse fly-like fashion.

        _________

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        • The Fly

          I am sure you are trying to “help” me by way of trashing my largest position. How kind of you.

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          • JakeGint

            I started making my case long before you went “full FTK” on it.

            And recall… I like the pick… just not here.

            ________

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          • The Fly

            How nice of you to mention ftk at the same time trashing gmcr. Perhaps you should change your name and avatar to match your snoopy persona.

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          • JakeGint

            Rofl.

            “jogging on,” as it were.

            Merely pointing out your sometime-tendency to get manic over certain positions.

            __________

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  13. Sir Prime Bean of Caffeine
    Sir Prime Bean of Caffeine

    Know what’s fun when you’re bored?

    http://tinyurl.com/czechwalk

    Google maps has done streetview of a lot of Europe. Nice little walking tour!

    http://tinyurl.com/fatpraguebitches

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  14. Mr. President

    Call me crazy here, but what about a $NKE short based on the Tiger scandal and temporary leave? How many people do you think will be buying TW apparel in the near future?

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    • DPeezy

      I’ll take the opposite, (equally crazy?) side…

      The scandal has certainly put Nike’s name in the spotlight as well…but I think it’s one of those “no such thing as bad publicity” cases, especially for a company that doesn’t advertise much on TV.

      Yeah, maybe the TW line will drop in sales, but overall, I think they’ll actually see a boost.

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  15. Mr. President

    TW does, if I am not mistaken, something like $700m in sales. Over the next 2,3,4 quarters, how can NKE not suffer?

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    • DPeezy

      Yeah, but isn’t their total revenue something like 20 billion?? A small drop in the 700mil portion of that would barely budge the bottom line, especially if some of their other lines benefit from the increased publicity…

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  16. the anti-fly

    I wonder how long a bull market needs to run before you people wake up to it.

    This one has been going strong for ten years and counting. You’ve missed a 400% run, and somehow you’re proud of it?

    Worse yet, you’re talking about how “K-cups” are the next big bull market?

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  17. No One

    Jim Rogers.

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  18. Dr. Incognito

    Cawfee is for closers.

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  19. ZenProfit

    My condolences, in advance, for the upcoming loss by NY to The Philadelphia Eagles.

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  20. tgarfield

    Everyone complains the US doesn’t hold enough gold and should go to the gold standard. IT is about the only big country holding gold in any proportion.

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    • JakeGint

      Treu, but we also have, by far, the greatest proportion of “currency as foreign reserves.”

      Ie, debt.

      _________

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  21. Spooky

    As far as I’m concerned, America is fast coming up to a defining moment. Every now and then, a sovereign has to, for the purposes of political stability and calm, hang a few traitorous men who have grown either too rich, powerful, or uppity, in order to restore the balance of things. We are seeing the banksters being taken out and shot in the UK, France, and, in highly limited ways, here. However, the ugly troll versions of the banskters are goldfuckers. They have already given up on the republic and they have embraced a shiny metal coin over the dictates of dictate (what the fuck am i talking about, the constitution, the first fiat currency we have). To my mind, it’s a war now between believers in metal and believers in words (i.e. the law). You gold fuckers of the country are toying with sedition–and I can’t wait till the black helicopters ship you off to somewhere where they still believe in golden cows and shit like that. You people have forgotten what capitalism is all about. I swear. I have no fucking use for Gold!

    —Your friendly neighborhood usurious jew (and, here’s the important part: CAPITALIST) Spooky

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    • JakeGint

      You’re as capitalist as Trotsky, komrade.

      ________

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      • Spooky

        The problem with you Palin-loving asswipes, as I keep saying, is that you don’t really understand what capitalism is. You think it’s some stupid texas game of richboy circle-jerking. It’s not. It’s played by STATES. The Reagan fantasy that you live in is not capitalism. If you want to understand capitalism, you have to study the first half of the 20th century, not the second half. That’s decadence.

        Wake the fuck up Jake. China has stolen your twinkies… And, it seems, to me, that the PRC is running rings around your rebumpkin ass

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        • Spooky

          Oh, and if you want to get technical, I’m as Capitalist as Karl Marx, who was a better capitalist than you’ll ever be. But then, I’m sure you don’t let history get in the way. Look up what his investments were sometime!!

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          • JakeGint

            You can rebut my “understanding” of capitalism on my blog, moron.

            I don’t spend much time kicking commie ass over here.

            __________

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        • Joe

          Stop making sense…
          It was the comunity reinvestment act of the democrats that got us into this mess!!! Oh and Reid and Pelosi…what nonsense.

          This truly shed the light on how the banks managed to wipe out glass stegal and increase leverage levels with the help of who else but the fascist motherfuckers that call themselves ‘republican’

          http://finance.yahoo.com/news/Obama-blasts-banks-for-apf-885052610.html?x=0&.v=2

          Of course they passed a shattered into thousand pieces economy to Obama and now they finally are against ‘spending’. If it wasn’t for insane spending of Obama, we’d all be bartering with goat skins and seashells by now.

          I dissagree with most of what Obama has done so far but if we are going to point fingers, lets point in the right(sick) direction!

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      • Spooky

        Let me make it simple for you. Gold is not capitalism. Capitalism is investment in production and work with an expectation of a profit. You, my friend, are interested in something else. Not sure what it is. But it ain’t in work.

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        • JakeGint

          Dipshit, your straw men are amusing, but in the end, irrelevant.

          When you can track down the quote of me saying “gold is capitalism,” you might be on to something. Better yet, it should keep you occupied and out of trouble.

          In the meantime, you continue with your one-sided sophomore year arguendo.

          ___________

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  22. Olivier

    Fly, chill out

    pop a few Midol

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  23. TA

    What’s with all the Amero talk? What’s wrong with calling an NA currency the dollar? After all 2 out of the 3 countries already use that name.

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    • JakeGint

      Treu.

      The “Amero” is already here. It’s the height of dipshit paranoia (as well as quite ironic) that the grassy knollers think we need to change the currency when we’ve already got a one world standard.

      Test — go to Zimbabwe, or even Brasil, and see if a shopkeeper wants the local fiat or your U.S. dollars.

      ___________

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  24. Sir Prime Bean of Caffeine
    Sir Prime Bean of Caffeine

    Did B-sconi just get hit with a 108 pack of k-cups?

    http://tinyurl.com/108pack

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  25. The Fly

    Okay, enough of the gold bullshit. I’m not even serious. I have an IMPORTANT MATTER to discuss.

    Developing….

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