Comments on: A Bad Time to Put the Knock on Gold? http://www.rickackerman.com/2009/10/a-bad-time-to-put-the-knock-on-gold/ Rick Ackerman's Hidden Pivot Method Mon, 15 Mar 2010 13:13:30 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Chris http://www.rickackerman.com/2009/10/a-bad-time-to-put-the-knock-on-gold/comment-page-1/#comment-2620 Chris Sat, 10 Oct 2009 18:12:18 +0000 http://www.rickackerman.com/?p=10381#comment-2620 Good for you, cosmo. If we, as a country, had honest money instead of the FED's fiat maney system we have now, we'd all be like you. Of course, then, the gov't would have no control over us at all. A truly free and independent people is not possible without honest money e.g gold and silver. That's why the Constitution requires only gold and silver to be money. How far we have fallen. Rather than laugh, I applaud you. Now teach others too. Chris Good for you, cosmo. If we, as a country, had honest money instead of the FED’s fiat maney system we have now, we’d all be like you.
Of course, then, the gov’t would have no control over us at all. A truly free and independent people is not possible without honest money e.g gold and silver. That’s why the Constitution requires only gold and silver to be money. How far we have fallen.
Rather than laugh, I applaud you. Now teach others too.
Chris

]]> By: cosmo http://www.rickackerman.com/2009/10/a-bad-time-to-put-the-knock-on-gold/comment-page-1/#comment-2521 cosmo Tue, 06 Oct 2009 07:15:16 +0000 http://www.rickackerman.com/?p=10381#comment-2521 Namaste' I really get a good laugh when people throw out stats about this/that or whatever(hahahah, very funny Rich)...I wanted to buy gold in 2001 when Cheney blew up the WTC, but didn't have any money...so I saved and bought all i could in 2003 at avg 350/oz...So, I retired at 40 I have been traveling the world by bicycle and other means for 5 years and have more "$" now than when I started. Never bought anything on credit and didn't participate on the way up, and now I wont participate on the way down(with no "income", I pay no taxes). The future is unwritten, but with all the efforts of the FED/Obama, the dollar is just hanging by a thread. When that thread breaks, no one knows, but all the paper in the world will be just fire starter...all I own is in my bag and in a small vault in safe hands. May the Universe have mercy upon the souls who don't prepare now for the economic storm fast approaching. Its a good time to learn how to grow your own food...You may laugh at me now, like I was laughed at 6 years ago for buying gold, but I really don't want to have to say "I told you so"....A handful of gold might just save your life Namaste’
I really get a good laugh when people throw out stats about this/that or whatever(hahahah, very funny Rich)…I wanted to buy gold in 2001 when Cheney blew up the WTC, but didn’t have any money…so I saved and bought all i could in 2003 at avg 350/oz…So, I retired at 40 I have been traveling the world by bicycle and other means for 5 years and have more “$” now than when I started. Never bought anything on credit and didn’t participate on the way up, and now I wont participate on the way down(with no “income”, I pay no taxes). The future is unwritten, but with all the efforts of the FED/Obama, the dollar is just hanging by a thread. When that thread breaks, no one knows, but all the paper in the world will be just fire starter…all I own is in my bag and in a small vault in safe hands. May the Universe have mercy upon the souls who don’t prepare now for the economic storm fast approaching. Its a good time to learn how to grow your own food…You may laugh at me now, like I was laughed at 6 years ago for buying gold, but I really don’t want to have to say “I told you so”….A handful of gold might just save your life

]]> By: Senor Cuidado http://www.rickackerman.com/2009/10/a-bad-time-to-put-the-knock-on-gold/comment-page-1/#comment-2520 Senor Cuidado Tue, 06 Oct 2009 04:30:25 +0000 http://www.rickackerman.com/?p=10381#comment-2520 Hey, Rich, careful. You sound like the clueless gold bashers over on Ticker-Forum. Tell us: were you bullish on gold at $300? At $500? Were you bullish last year when it dipped to $700? At $800? $900? I think not. You sound like someone who's never been bullish on gold. First rule of gold investing: Ignore sell recommendations from perma bears. Gold has been a BUY for almost the entire decade based on loss of confidence in Bretton Woods II aka growing doubt/uncertainty and growing fear/anxiety. And for damn good reason. Hey, Rich, careful. You sound like the clueless gold bashers over on Ticker-Forum.

Tell us: were you bullish on gold at $300? At $500? Were you bullish last year when it dipped to $700? At $800? $900? I think not. You sound like someone who’s never been bullish on gold. First rule of gold investing: Ignore sell recommendations from perma bears.

Gold has been a BUY for almost the entire decade based on loss of confidence in Bretton Woods II aka growing doubt/uncertainty and growing fear/anxiety. And for damn good reason.

]]> By: Rich http://www.rickackerman.com/2009/10/a-bad-time-to-put-the-knock-on-gold/comment-page-1/#comment-2517 Rich Tue, 06 Oct 2009 02:19:08 +0000 http://www.rickackerman.com/?p=10381#comment-2517 Aloha All Only one Rupert Murdoch Cramerica Kansas headliner sees lower prices. Mad Cramer doesn't. One goldilocks bear does not a bull market make. All other gold headlines today are bullish on Google News. Dallas Texan Kyle Bass made billions shorting Subprime Mortgages. He's 50% long medium term credits and mortgages, 25% long junk bonds, nary a mention of gold. Big4 are also long 2, 5 and 10 year T Notes with him. Big4 actually 33% short and 16.8% long gold. Gold still below high of 1033 in March of 2008. Gold more than half below $2300 inflation-adjusted gold high of 1980. Beside boogieman fear of inflation, (where is it with everything but gold down?) gold rose on unconfirmed rumours of attacks on Iran the last 8 years. Iran enjoys the backing of strategic nuclear partners and UN Security Council vetoes including China and Russia, now #1 oil producer. Big4 5.2% long/4.2% short crude and 21.4% short/15,7% long NatGas). Smart markets may not reflect Israel going on a suicide mission anytime soon. (Maybe 2012.) HUI gold stocks peaked versus gold, bubble like oil last year, with GS most bullish at top, raising forecast from $150 to $200 and T Boone Pickens and Matt Simmons to $300. Nyet yet. Oil in terms of gold fell -76% from June 2008 to March 2009=Deflation. In terms of gold: dollar and Dow down 83 and 84% since 2000. All of these credit default implosive deflation. Big gov and big banks already tried to inflate their way out of debt and it did not work. An 83% drop in the dollar did not increase trade surpluses 83%. There are no budget or trade surpluses. We think Dome and Homestake outperformance from 1930 to 1936 was primarily due to FDR Constitutional violations devaluing the gold dollar bond standard -69% by fiat and retroactively making gold contracts and ownership illegal. There is no gold backing of bonds and currency now. There was nowhere near as much bad shadow bank credit and overpowering debt then. People actually saved for a rainy day. The dollar was not a floating global reserve currency. It is now. It fell 83% the last 8 years and things got worse as Austrian economists knew, not better, as neoKeynesian economists thought. Gold may be much more likely to fall now with an overdue market swoon as shadowbanks, money supply and multiplier continue to contract in this Wiley Coyote Banking Pandemic starving most business. Government cannot continue to expand indefinitely, as the -34% drop in April IRS revenues, 50% monetization of agency or Treasury debt and growing unemployment show. Any hypothetical economic expansion would be snuffed by higher long iRates. The highest we saw so far was 5.066% in June. Today's 3.966% long bond yields with a negative GDP are hardly an inflationary argument for gold. How I learned to stop worrying and love the Big D... Regards*Rich Aloha All

Only one Rupert Murdoch Cramerica Kansas headliner sees lower prices.
Mad Cramer doesn’t.

One goldilocks bear does not a bull market make.

All other gold headlines today are bullish on Google News.

Dallas Texan Kyle Bass made billions shorting Subprime Mortgages.

He’s 50% long medium term credits and mortgages, 25% long junk bonds, nary a mention of gold. Big4 are also long 2, 5 and 10 year T Notes with him.

Big4 actually 33% short and 16.8% long gold.
Gold still below high of 1033 in March of 2008.
Gold more than half below $2300 inflation-adjusted gold high of 1980.

Beside boogieman fear of inflation, (where is it with everything but gold down?) gold rose on unconfirmed rumours of attacks on Iran the last 8 years.
Iran enjoys the backing of strategic nuclear partners and UN Security Council vetoes including China and Russia, now #1 oil producer.

Big4 5.2% long/4.2% short crude and 21.4% short/15,7% long NatGas). Smart markets may not reflect Israel going on a suicide mission anytime soon.
(Maybe 2012.)

HUI gold stocks peaked versus gold, bubble like oil last year, with GS most bullish at top, raising forecast from $150 to $200 and T Boone Pickens and Matt Simmons to $300. Nyet yet.

Oil in terms of gold fell -76% from June 2008 to March 2009=Deflation.

In terms of gold: dollar and Dow down 83 and 84% since 2000.
All of these credit default implosive deflation. Big gov and big banks already tried to inflate their way out of debt and it did not work. An 83% drop in the dollar did not increase trade surpluses 83%. There are no budget or trade surpluses.

We think Dome and Homestake outperformance from 1930 to 1936 was primarily due to FDR Constitutional violations devaluing the gold dollar bond standard -69% by fiat and retroactively making gold contracts and ownership illegal.

There is no gold backing of bonds and currency now. There was nowhere near as much bad shadow bank credit and overpowering debt then. People actually saved for a rainy day. The dollar was not a floating global reserve currency.

It is now. It fell 83% the last 8 years and things got worse as Austrian economists knew, not better, as neoKeynesian economists thought.

Gold may be much more likely to fall now with an overdue market swoon as shadowbanks, money supply and multiplier continue to contract in this Wiley Coyote Banking Pandemic starving most business.

Government cannot continue to expand indefinitely, as the -34% drop in April IRS revenues, 50% monetization of agency or Treasury debt and growing unemployment show.

Any hypothetical economic expansion would be snuffed by higher long iRates. The highest we saw so far was 5.066% in June. Today’s 3.966% long bond yields with a negative GDP are hardly an inflationary argument for gold.

How I learned to stop worrying and love the Big D… Regards*Rich

]]> By: ricecake http://www.rickackerman.com/2009/10/a-bad-time-to-put-the-knock-on-gold/comment-page-1/#comment-2516 ricecake Mon, 05 Oct 2009 23:39:26 +0000 http://www.rickackerman.com/?p=10381#comment-2516 Gold was doubtless the greatest investment. But question is: Is it still the best now? Per gut feeling, I honestly feel Gold is too expensive at the moment. If I had known in 1999 or few years ago, I would have bought it..... lol. Now most people are short in cash. So who can afford to buy Gold? I think those who got rich during the housing boom, those who sold stock at the peak during 2007, those who got rich during the bail out.... those who won the bet on the derivatives... I mean there so much wealth transfer somebody must got filthy rich ..... Gold was doubtless the greatest investment. But question is: Is it still the best now?

Per gut feeling, I honestly feel Gold is too expensive at the moment. If I had known in 1999 or few years ago, I would have bought it….. lol. Now most people are short in cash.

So who can afford to buy Gold? I think those who got rich during the housing boom, those who sold stock at the peak during 2007, those who got rich during the bail out…. those who won the bet on the derivatives… I mean there so much wealth transfer somebody must got filthy rich …..

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