The Paws that Refreshes?
_______________________
Are you kidding me? Do you really think you can beat the printing presses, Mr. Bearshitter?
I’ll have you know Benjamin J. “Inky Hands” Bernanke has the fastest printing presses this side of the New York Times, albeit sans the egregious liberal editorial slant.
No, no, Benjamin B. is tres efficient, as he does not even have to consort with learing Thomas Jefferson’s $2 bill. His only mandate — keep the river of Washingtons, Lincolns, Hamiltons, Jacksons, Grants and Benjamin Franklins flowing to the far corners of the globe in exchange for chintzilly made novelty aprons and Irish crystal.
Our mandate, however, is to scoop as much of that flow as remotely possible, and convert it into hard assets, bunker-builder style. Gold. Silver. Platinum.
Enjoy this rebound, friends. There may be much more to it. Personally, I see the dollar — [[UUP]] starting to wear down here, and drop precipitously. Soon it will well on it’s way to continue it’s long term downtrend. That should boost stocks no end.
Just remember, it’s an artificial boost, and those equities are just not worth what you thought they were. Don’t become wed to a name, unless you plan to hold it for the duration. Duration, in this case is more than 10 years.
Only [[UPS]] and [[MON]] fit that description for me. I even expect the golds ([[GDX]], [[RGLD]], [[ANV]]) and silvers ([[SLW]], [[PAAS]] and [[EXK]]) to die off sooner than those two.
I also like [[EGO]] and [[IAG]] here. Attend!
___________________
If you enjoy the content at iBankCoin, please follow us on Twitter
Good Sir Muse,
Methinks your thesis dependeth much on the market of stocks continuing to struggle with their prospective demise.
For whenceforth cometh confidence in stocks again, auric and argent shall surely meet a precipice of doom, as masses of washed and unwashed merchants grow weary of fear and divest themselves of such nonsensical, un-cash flow-like implements of antiquity.
However, your arguments are not without merit.
I yield to your rebuttal…..
Forsooth! Gold is MONEY, dear man.
The only real kind.
Attend!
__________
JG, have you been reading the three part series in the WSJ about Gold? The most recent piece which makes “the case against gold” argues that supply > demand, so the only way gold prices can rise if more and more people buy it……..
“what do we call an investment scheme where current members’ returns depend entirely on new money brought in by new members?
A Ponzi scheme.”
http://online.wsj.com/article/SB10001424052748704032704575268462477689760.html?mod=WSJ_PersonalFinance_PF2
The author admits that there is money to be made in such a scenario.
The price of anything only exists at the margins. Stocks go up because more people buy than sell. His argument is that the only true (valid) demand is from industrial users including the jewelry market. That discounts investors and central banks but is ridiculous for a deeper reason. The major jewelry market in the world is India where gold jewelry is used as a store of value, that is, an investment. So separating jewelry demand from investment is artificial.
This is what happens when you get your MBA from a computer school. Using that thesis, any investment rising in price can be categorized as a Ponzi scheme.
The question is not what is current demand, but what is incipient demand, thanks to the destruction of the world’s fiat currencies.
I was not buying at $270 an ounce for today’s price, but for 2012’s price.
________________
They say in 197? you could buy a nice suit for the value of a 1 oz gold coin ($35)
Still true today @ $1,200
Markets are always emotional.
The tide has not turned. I was just at a local coin shop; they said business had not increased.
Euro may have put in a double bottom at 121 … sell off in $ (UUP) may raise all boats with gold, silver & euros in their holds soon enough.
JG – What was that bet you have with a cetain troll about gold going to $800?
He declined my wager offer.
Wisely.
__________
I missed that posting, but I like a good bet and I am expecting a pullback in gold, albeit a temporary pullback. What were the terms of the bet?
There were no terms. He declined to wager anything.
_________________
Could you get your head out of Jake’s ass just long enough to get your facts strait?
I got some puts when it gapped down and formed an island reversal. Covered half on the washout day and will cover the rest if it doesn’t reverse upon filling the gap – which it still has not done. It will be a net profitable trade for me – as long as gold doesn’t gap up $50+.
The $800s (not $800) would be the target it this reversal turns into a double top – which was always a long shot.
Anyway, WTF is it with assholes who get their jollies by kicking sand at people when a trade goes wrong (or when you imagine a trade has gone wrong? I mean, I didn’t come here and gloat about what an asshole you are for blindly following Jake into more MON recently. Putz.
Ha HA! A little sand in your vaj, purdy-douche?
I’ll take the artificial boost. Otherwise, you are moving backwards. That’s the hidden tax, take half your money by way of currency devaluation. My question– who is getting those $ off the printing presses? Banks, so they can maintain ‘liquidity’? FDIC raises financial ratios as loans default, so the banks have to impound all these $ Uncle Ben keeps printing up. No inflation– I don’t get it. Obama should be telling people to get to work, rather than the gov’t will save you. We have to work our way out of this mess, not just print up money and deficit spend our way out of it.
LMAO TPIYM
I really am going to have to get a glossary for you.
___________
Why?
LMAO Laugh My Ass Off
TPIYM Then Piss In Your Mouth
pretty standard
I actually laughed out loud at that.
The V.King has placed a small order 15,000 shares of IOC for sale….GTC @ 52.25
come and get it….
Its one of those bears in the woods with too much tp on his fur. Came in to do his business.
I had an interesting time trying to explain the bear at the urinal to Boo Boo this morning. The first question was, “Where does that bear live?”. Answer,”Germany.”
ROFLMAO.
_______
Gold vs S&P – http://www.ritholtz.com/blog/wp-content/uploads/2010/05/Gold-vs-SPX.png
from John Roque via Barry Ritholtz
Good stuff. Grazie.
___
Another interesting report from Chiner for Jack Straw’s demand problem.
___
I hate to bring up politics on a holiday weekend, but Noonan makes some great points here.
Never hate to bring up politics on this blog. The investment thesis is inherently a political one, in that we would not need to protect our savings were we not beset by glad handing idiots seeking to distribute income not their own in order to accumulate power.
As for Noonan, she may be wishfully thinking. The media is still deeply, deeply invested in this inexperienced fool and his bumbling entourage’s success.. to the point of blinding cognitive dissonance.
_________
It seems to me that quite a few of your favourite gold and silver miners seem to be either flagging or forming pennants on the daily over the last few days (on the canadian versions anyway). Might be something to look at.
I see a bunch of stocks that visited their 50 day EMA and are now back above their 20 day EMAs. Might you have some examples of particular concern?
(Warning, the Taipan guy is warning of imminent collapse by Friday the 4th).
_____
Like I said, I just looked at the Canadian versions, but if you look at IMG.TO (IAG), SLW.TO, YRI.TO (AUY), PAA.TO, and SVM.TO the last 3 days seem to be forming a consolidation flag after a quick up move, all on lower volume. Just an observation, we might be in for another quick little pop this week…
Jackson’s almost ready for circulation. I reckon it’s time to pre-order a box.
http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=14598&langId=-1&parent_category_rn=27238
It’s an apostasy that they are not made from pure silver (or gold!).
______________
video of V.Queen and DMG on a bog standard afternoon
http://www.youtube.com/watch?v=t8tBLGHL6eU&feature=related
LOL. What odd you tube subscriptions you partake in, M. “The Loch.”
_______________