tag:blogger.com,1999:blog-7982981413278241287.post1143731262166848247..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: Use This Sell-off To Prepare For The Next Big Fundamental Move HigherDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-7982981413278241287.post-18384318613917646122012-03-17T10:18:29.724-06:002012-03-17T10:18:29.724-06:00Buffet and silver.....LOL
When did he sell all th...Buffet and silver.....LOL <br />When did he sell all those tons of silver he had bought for around 4 bucks? I think that was around 2003 or 2004.<br />At 30 plus dollar silver......no wonder he hates G/S. On top of that....Mr. Buffet how's your stock doing over the past ten years? <br />Dave, don't worry about the bonds, Ben said they will stay low until 2014.<br />So is this why Mr. Gold is saying June of this year for the dollar starting to crack? Will this be like going from the deer in the headlights....to seeing printing presses forever....LOL It's all about "Keep printing or die".<br />And about the... "What the hell happened to the intended interest rate of Bernanke's "Operation Twist?" <br />It's called the step to lower rates. "Sterilization" you know that new word, same as all the other words they use to make it sound more user friendly for all the sheep. "Sterilization", it should mean no one touch my printing press, we have enclosed this press in a sterilized room, from all who try to contaminate our way of thinking.....LOL<br />Dave, Thanks again for the work you put out every week.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-13248804586549814322012-03-16T18:35:35.837-06:002012-03-16T18:35:35.837-06:00Ya it would be fun to write a post picking him apa...Ya it would be fun to write a post picking him apart. I'll think about it, but I have some good material in backlog that I wanted to write about. <br /><br />Thing is, the whole premise of the Kass/Buffet argument lies on the belief that gold is an investment. It's not - it's a currency. <br /><br />Buffet is self-motivated to bash gold and pump paper investments. If we switch to a gold standard, a very large portion of his paper wealth will be wiped out instantaneouslyDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-54424177461097981912012-03-16T14:25:15.262-06:002012-03-16T14:25:15.262-06:00I tend to agree with you about Doug Kass. He grad...I tend to agree with you about Doug Kass. He grades himself very generously when evaluating his top surprises list in retrospect. And he is full of himself.<br /><br />However, does that make what he wrote above something to be summarily dismissed? I'd rather you attack the message than the messenger. In fact, it would be a worthwhile future blog post for you to take the above Kass commentary and pick apart the fallacies of his argument, point by point.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-78709456563364359932012-03-16T11:28:25.613-06:002012-03-16T11:28:25.613-06:00Doug Kass is one of the biggest ass-clown fucktard...Doug Kass is one of the biggest ass-clown fucktards out there. Talk about re-writing history when he publishes his market performance. I'd love to see a bona fide independent audit of his investment results. Kass is one of those guys who would be selling used Chevy Volt's if he didn't get win the "be in right place at the right time" Wall Street "guru" Powerball ticket.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-11845463401529728552012-03-16T11:03:48.462-06:002012-03-16T11:03:48.462-06:00It's an easy time to bash gold. Just read the...It's an easy time to bash gold. Just read the latest blog entry from Doug Kass...<br /><br />Fool's Gold<br />Mar 16, 2012 | 7:39 AM EDT <br />Stock quotes in this article:PG <br />Gold doesn't produce profits and, as such, fails to provide a stream of income. <br /><br />The second major category of investments involves assets that will never produce anything but that are purchased in the buyer's hope that someone else, who also knows that the assets will be forever unproductive, will pay more for them in the future. Tulips, of all things, briefly became a favorite of such buyers in the 17th century....<br /><br />This type of investment requires an expanding pool of buyers, who, in turn, are enticed because they believe the buying pool will expand still further. Owners are not inspired by what the asset itself can produce -- it will remain lifeless forever -- but rather by the belief that others will desire it even more avidly in the future....<br /><br />The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative.<br /><br />-- Warren Buffett, 2012 Berkshire Hathaway Letter<br /><br />The revival in animal spirits has lifted most risk markets this month, with the exception of the gold market.<br /><br />Gold continued its free-fall overnight and is down another $12 per ounce.<br /><br />In theory, gold is a great asset class in a world of too much cowbell, where fear is a constant and the integrity of most currencies is waning (as an outgrowth of addressing fiscal imbalances with monetary solutions).<br /><br />As I once wrote about gold, however, there is no way to calculate intrinsic value. When it drops by $100 or $200 per ounce, an investor has little bearing as to whether the precious metal is cheap and at what price level it provides intrinsic value.<br /><br />As Oaktree Capital Management's Howard Marks has written that gold is a lot like religion. In religion, you either believe in god or you don't. In the gold market, you either believe in gold or you don't.<br /><br />In essence, the gold market is a state of mind. It neither represents a corporate franchise that increases over time as profits are earned and retained -- such as, say, Procter & Gamble (PG), with a protected moat -- nor is it a productive asset.<br /><br />On the latter point, gold doesn't produce profits and, as such, fails to provide a stream of income.<br /><br />Its future price is simple dependent upon someone willing to pay more for the asset class compared to its price today.<br /><br />The bull market in gold has stalled, and it might not return for a while.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-42567392549524617162012-03-16T05:33:32.107-06:002012-03-16T05:33:32.107-06:00When the Treasuries are sold off, Dollar gains wor...When the Treasuries are sold off, Dollar gains worldwide and gold along with other metals drop like a rock and will drop for some time until someone prints again, i`m afraid to say that gold will drop, probably a lot.<br /><br />I`m extremely bullish on gold for the long term.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-29555442756651333752012-03-15T19:59:04.970-06:002012-03-15T19:59:04.970-06:00you spelled gretzky wrongyou spelled gretzky wrongAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-41653221190344726322012-03-15T15:24:06.200-06:002012-03-15T15:24:06.200-06:00Jim Sinclair had predicted many European countries...Jim Sinclair had predicted many European countries would want their<br />gold back, which is being stored by the Fed in the US. This movement<br />is beginning to take hold in Switzerland and Germany as well as other<br />countries. When asked about his prediction beginning to take place,<br />Sinclair responded, “It had to happen because we all ask ourselves the<br />question, ‘Where does the gold come from on these attempts at<br />intervention?’ Because it’s not simply paper gold, it’s also in the<br />cash market. There is a concern that the gold that’s being used to<br />intervene might not be our (US) gold.<br /><br /><br />Basically they (Germany, Switzerland and other countries) are now<br />asking the question, where is the gold coming from? There are two<br />possibilities, Fort Knox or the Federal Reserve seller, in the cash<br />sense. Fort Knox, nobody knows what’s there.<br /><br /><br />Everybody knows what’s at the Fed, other people’s gold. The trend<br />that we discussed a long time ago which is really turning into a<br />modest torrent, is to take back gold. I mean the truth is what do the<br />Germans need the Fed to store their gold for? Are they afraid France<br />will invade? It doesn’t make any sense.”<br /><br />http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/3/15_Sinclair_-_Is_the_Fed_Selling_Europes_Gold_During_Interventions.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-30952091215046912862012-03-15T11:48:10.746-06:002012-03-15T11:48:10.746-06:00Nice review of developments in the Treasury market...Nice review of developments in the Treasury market, sir; thanks!John G.https://www.blogger.com/profile/09127952173210718830noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-75031632956787649082012-03-15T10:39:28.580-06:002012-03-15T10:39:28.580-06:00Could the recent take down of the Precious Metals ...Could the recent take down of the Precious Metals have anything to with the eventual coming Attack on Iran. Seems that all the Stars are alining . . . . . Arrival of the 3rd U.S. Aircraft Carrier in the Arabian Sea, possible U.K./U.S. Release of Strategic Oil Reserves to blunt the resulting spike in Oil prices, best weather in the Arabian peninsula from now until mid-june for an attack, the continued take of the Precious Metals which would surely rise in the event of such an action, and the need by the Obama Administration for such an attack to occur now rather than closer to election time . Could this all be a coordinated move rather than a bunch of radom happenings ???<br />The SWISS GENOMEAnonymousnoreply@blogger.com