Comments on: Gold As Insurance

By: ccohen

ccohen — Mon, 20 Jul 2009 00:29:37 +0000

This is Chuck. I don’t have any real problem with your strategy. It makes a lot of sense. The advantage of buying coins on weakness is that you will tend to just hold them and not trade them and they serve the same purpose as having cash in the bank, but given what is coming up, even safer. But stick to some kind of trading discipline. One day, though, the pattern of the past 6 years will be broken and all gold shares will break out. At least, that is my observation.

By: Richard

Richard — Sat, 18 Jul 2009 16:46:51 +0000

Re: Ivy League Elite & Wall Street
I do not think the problem is the educational institutions so much as the type of personality that is tolerated in Wall Street big leagues. Basically, I believe that if you are capable of independent thought and action, you will be viewed as a dangerous outsider. The need for groupthink, aye-aye-Captain footsoldiers is high when enormous profits are at stake. These firms have highly profitable products for sale, regardless of their ultimate worth and are not about to let free thinking or moral individuals get in the way of their bonus checks.

The same mentality pervades much of high echelon society/educational/economic/media think-tanks, etc. There is an unspoken subtext which you are expected to implicitly understand and accept before you are either accepted or allowed to progress within these controlled spheres of influence. This is a symptom of systemic collapse as the forces of control have more to gain by prolonging a system which is ultimately ruinous to society at large, but profitable to the few.
The Hollow-men are in charge, headpiece filled with straw, like rats feet over broken glass, in our dry cellar,” to quote some T.S. Eliot

By: Jim P

Jim P — Sat, 18 Jul 2009 02:19:42 +0000

Hi,
I love the idea of Gold for insurance however after buying and holding it in one form or another since this bull started around 2000/1 I have decided to forget the bullion/coins/bars, Etf’s, Perth mint,etc. and just buy a core position 50% and a trading position 50% of highly liquid High Quality Gold stocks as my insurance policy. I gave up trying to find the right way/place to store bullion and have found I can do much better regarding profits just in stocks.
I use a portfolio of 6 Premium hand chosen by me Stocks.
One quick click of the mouse and I am in or out of a cash position
The profits in stocks so far have outstriped the equivilant of holding the same $ investments in bullion as I have tracked it ever since I embarked on this strategy. I can easily trade stocks but cannot easily trade bullion.
If we should be so fortunate as to get a quick dip in the Gold price right in here somewhere I will quickly and easily back up the TRUCK …….
What’s Wrong ” if anything” With That Strategy ???

By: Rick’s Picks Weekend Edition | Rick's Picks

Rick’s Picks Weekend Edition | Rick's Picks — Sat, 18 Jul 2009 00:03:00 +0000

[...] Read the Rest of the Article | Comments [...]

By: ccohen

ccohen — Tue, 14 Jul 2009 20:48:59 +0000

Cosmo: I didn’t intend that comment to be directed against the Pakistani people of the north but rather as to reflect the perception that it is a dangerous place to visit. Perhaps, I should have said just the Taliban areas. Chuck

By: ccohen

ccohen — Tue, 14 Jul 2009 20:46:18 +0000

Jeff:

I apologize for the delay. My comment was not a direct impugning of all of the Ivy schools but specifically the brotherhood of Yale and Harvard that has been responsible for much of the economic policies that have ruined our nation. There is a common acceptance of much of the Keynesian stuff at these schools that enters our policies, and obviously they have been disastrous regardless of how highly these schools are thought of. If you think this is an exaggeration, then look at the resumes of almost all of the policy makers including the past few presidents. Many Yale and Harvard degrees. Actually, I am a graduate of Pennsylvania, but that doesn’t mean much. I didn’t mean to offend you or anyone else by this. Chuck

By: richard

richard — Mon, 13 Jul 2009 15:36:56 +0000

ETF ’s are not insurance! Be warned! Their sponsors are the same international banks who are shorting gold, so do not suppose that you have insurance in this short term only trading vehicle which clearly tells you in their prospectus that you have no rights to claim any physical gold and that theft of gold in the fund is a risk that you, not they assume.
Now you don`t suppose that these banksters would steal do you?
Would it not be handy for the guv and the banks to have a lot of gold in one place should there be an official devaluation of the dollar? Do you not think that you would be closed out at the price of the day before devaluation? Did you know that etf gold can be used to settle Comex gold contracts with the Comex ?
ETF s are a 2 week trading vehicle at best, and open the door for multiple receopts to be issued against your gold by parties that have paid fines or pled guilty too many times to breaking the rules.

By: cosmo

cosmo — Mon, 13 Jul 2009 12:08:26 +0000

I am in Northern Pakistan as I write. I can tell you that they are the kindest people in the world. All the travelers I meet say the same thing. You should come and see for yourself before you start talking about someplace you’ve never been…

I bought gold 5 years ago. All my cash is in coins. It has been paying for my travels for 5 years and counting. I tried the trading game and it cost me plenty. Now I sleep like a baby every night knowing that my cash will NEVER go to zero. Y’all enjoy the fall from grace of the US, I’ll be trekking in the Himalyas. Peace

By: » Rick Ackerman With More On Gold……….

» Rick Ackerman With More On Gold………. — Mon, 13 Jul 2009 03:46:39 +0000

[...] by Rick Ackerman on July 13, 2009 12:01 am GMT · 0 comments [...]

By: Jeff Kahn

Jeff Kahn — Mon, 13 Jul 2009 00:41:33 +0000

Hi,

I appreciate the gold series. However, I can’t say how tired I am of hearing gratuitous comments about the IVY educated elitist blah blah blah. The problem in this country is not an Ivy League education but the horrible state of most of the rest of the educational system. In fact, much of the current classes at Harvard and Yale are now filled with Chinese, Korean and Indian students who score higher than US students, and are more than happy to take those spots eschewed by our Ivy hating friends. That’s a shame for America.