You gold bugs had better sell sell SELL!!

[Bo-4]

17% drop since late 2011 and some predict it'll go as low as $750.

http://www.nytimes.com/2013/04/11/business/gold-long-a-secure-investment-loses-its-luster.html?pagewanted=all&_r=0

 

[LeRoy_Was_Here]

17% drop since late 2011 and some predict it'll go as low as $750.

http://www.nytimes.com/2013/04/11/business/gold-long-a-secure-investment-loses-its-luster.html?pagewanted=all&_r=0

Peter Schiff is out of his mind. From your link:

Gold’s most vocal bulls say gold doubters are losing faith too easily. Peter Schiff, the chief executive of the investment firm Euro Pacific Capital, said that he still expected gold to hit $5,000 an ounce within a few years because, he said, the world is headed for a period of dangerous hyperinflation.

“People believe the U.S. economy is recovering. It’s not,” said Mr. Schiff.

LeRoy: If Mr. Schiff was correct that the U.S. economy is not recovering, it would be going into a deflationary period, not a hyper-inflationary period. In fact, that reveals the fundamental mistake of analysis that ALL the gold bugs made: they failed to realize the essential deflationary nature of the financial crisis that erupted in late 2008. Mr. Schiff has been predicting hyperinflation would break out, first in 2009; then in 2010; then in 2011; then in 2012; and now in 2013. He's been wrong every time.

 

[Bo-4]

Peter Schiff is out of his mind. From your link:

Gold’s most vocal bulls say gold doubters are losing faith too easily. Peter Schiff, the chief executive of the investment firm Euro Pacific Capital, said that he still expected gold to hit $5,000 an ounce within a few years because, he said, the world is headed for a period of dangerous hyperinflation.

“People believe the U.S. economy is recovering. It’s not,” said Mr. Schiff.

LeRoy: If Mr. Schiff was correct that the U.S. economy is not recovering, it would be going into a deflationary period, not a hyper-inflationary period. In fact, that reveals the fundamental mistake of analysis that ALL the gold bugs made: they failed to realize the essential deflationary nature of the financial crisis that erupted in late 2008. Mr. Schiff has been predicting hyperinflation would break out, first in 2009; then in 2010; then in 2011; then in 2012; and now in 2013. He's been wrong every time.

Yep, Schiff is to economics what Dick Morris is to politics. Constantly WRONG. But trust him, that $5,000 gold is just around the corner! :lol:

 

[Bo-4]

Btw.. he's also the CEO of THIS company.. no conflict of interest there eh? ;-)

http://www.europacmetals.com/

 

[LeRoy_Was_Here]

Btw.. he's also the CEO of THIS company.. no conflict of interest there eh? ;-)

http://www.europacmetals.com/

It would be funny if someone found out that Peter Schiff's OWN investments were in things like, oh, mutual funds, government bonds, real estate.....with practically nothing in precious metals.

 

[Zam-Zam]

17% drop since late 2011 and some predict it'll go as low as $750.

http://www.nytimes.com/2013/04/11/business/gold-long-a-secure-investment-loses-its-luster.html?pagewanted=all&_r=0

Actually, this sounds like a great time to buy. The first part of "Buy low, sell high"........

 

[Bo-4]

Actually, this sounds like a great time to buy. The first part of "Buy low, sell high"........

Aint goin' anywhere but down for the next couple of years anyway.

But suit yourself! ;-)

 

[Bernard_Fokke]

Good call, sure headed into the cellar today along with silver. Lot of loss today.

 

[EatTheRich]

The threat of inflation comes as capitalism goes into the "boom" phase of its cycle but we still have cheap credit, weak dollar policies.

 

[LeRoy_Was_Here]

The threat of inflation comes as capitalism goes into the "boom" phase of its cycle but we still have cheap credit, weak dollar policies.

What 'threat' of inflation? The Producer Price Index FELL by 0.6% on its last reading. Inflation is nowhere in sight.

 

[EatTheRich]

Why? Because oil prices will never go back up?

 

[LeRoy_Was_Here]

Why? Because oil prices will never go back up?

Oh, I'm quite sure oil prices WILL go back up again at some time. Precisely why it is vitally important that we continue to work on alternative energy sources. And the free market is doing exactly that, with a few helpful nudges from government. Silicon Valley has gotten VERY interested in the energy problem, these days.

Yes, that is GOOD news.

 

[fairsheet]

I'm not so sure they WILL go back up. But, don't invest your future on my crazy ideas. But, I think the whole world energy reality has flipped rather dramatically over the last decade. Once, the petros may've dreamed of soaking us for every last drop. Now though, I'm guessing their bigger concern, is ending up with zillions of barrells "in inventory", after the world has lost its interest in oil. The petros need to do whatever they can, to keep us hooked on their product for as long as they can. Jacking up prices, doesn't help in that regard.

 

[EatTheRich]

Oh, I'm quite sure oil prices WILL go back up again at some time. Precisely why it is vitally important that we continue to work on alternative energy sources. And the free market is doing exactly that, with a few helpful nudges from government. Silicon Valley has gotten VERY interested in the energy problem, these days.

Yes, that is GOOD news.

I'm not so sure they WILL go back up. But, don't invest your future on my crazy ideas. But, I think the whole world energy reality has flipped rather dramatically over the last decade. Once, the petros may've dreamed of soaking us for every last drop. Now though, I'm guessing their bigger concern, is ending up with zillions of barrells "in inventory", after the world has lost its interest in oil. The petros need to do whatever they can, to keep us hooked on their product for as long as they can. Jacking up prices, doesn't help in that regard.

Both interesting points. And they complement each other in the sense that I'm sure alternative energy scares the heck out of places like Saudi Arabia.

 

[fairsheet]

Let's just say that with every decade that passes, we're 10 years closer to a viable, alternative, energy reality. And every once in a while, something comes along to super-goose us. A good relatively recent example of that, was when Dick/George "jumped the shark" with their almost $5 gasoline. That one took at least a decade off the petro's lives.

 

[EatTheRich]

We'd already be producing a lot more nuclear energy if not for efforts by the U.S. and other rich nations to undermine nuclear power generation in places like Iran and Brazil.

 

[LeRoy_Was_Here]

We'd already be producing a lot more nuclear energy if not for efforts by the U.S. and other rich nations to undermine nuclear power generation in places like Iran and Brazil.

If we want more nuclear power plants in the United States, then we had better start training a new generation of nuclear engineers. VERY few American students are going into nuclear engineering these days.

I don't know about you, but I don't exactly want Homer Simpson running our nuclear power plants....

 

[RedCloud]

If we want more nuclear power plants in the United States, then we had better start training a new generation of nuclear engineers. VERY few American students are going into nuclear engineering these days.

I don't know about you, but I don't exactly want Homer Simpson running our nuclear power plants....

Hows aboot Drumcollie?

 

[Bo-4]

Hows aboot Drumcollie?

There's a grand idea. I always envisioned Drummy as a nuclear scientist!

 

[fairsheet]

There's a grand idea. I always envisioned Drummy as a nuclear scientist!

More like a nucular scientist.