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Saturday, July 30, 2011

One of the stupidest criticisms of gold as money

Possibly the STUPIDEST comment I have seen by those who pooh pooh the PMs has been "Well, the gold market and silver market is JUST TO SMALL TO CONTAIN THE WORLD'S WEALTH."

There are times when comments are made which are so wall eyed ignorant that you start to speak, check yourself, start again, think of yet another reason this is idiocy and finally just splutter in frustration and have another beer.

Now that I have sobered up, I can only respond that this pristine marvel of idiocy assumes that there is some intrinsic REASON that assets should be valued in terms of pieces of paper with pics of dead politicians on them. There is no such reason, and the current events are in fact powerful reasons that this valuation system has proved itself an utter failure. I find that I only want to say this: DO YOU HAVE ANY IDEA WHAT A POWERFUL ARGUMENT THIS IS THAT GOLD AND SILVER ARE *DRAMATICALLY* UNDERVALUED????

For something to be "money" one of its characteristics is that it must have "scarcity" as well as portability, divisibility, fungibility (exchanged for other items or services) etc. Central banks have destroyed one of the key elements necessary for any item to be "money" by printing loads of it. EVERY GOVERNMENT ENTRUSTED WITH PRINTING "JUST ENOUGH" PAPER FOR MONEY HAS RUINED THAT MONEY WITHIN 40 YEARS. Every single one in history. We abandoned any ties to gold as a backing for the dollar in 1971. I will assume you can cipher the numbers yourself. We already HAVE destroyed the dollar as a reliable unit of money. It is now just time to sit back and watch the stooges of the world wake up to the fact. They WILL return to the gold standard (although there may be a "basket" of standards tied to a fixed number of commodities). Every nation in history which has destroyed its currency has done so, and we are not going to be any different.

What that means is that you have an opportunity to profit here beyond your wildest dreams..... if you are careful. If all you do is buy gld and slv, then don't whine when the government changes the rules to confiscate your wealth. They have done so before. Remember, you are dealing with professional thieves... casino owners who WILL NOT LOSE. To win, you have to have MOST of your stuff in physical where they can't get their hands on it.

I play slv and gld and some mining stocks, but that is it. I "play" them. I want to pyramid Federal Reserve Notes so that I can buy more physical gold and silver.

Make yourself happy and give up on the "full faith and credit of the US Treasury," buy some gold and silver, and strap in for the ride.

It is gonna be fun.

Friday, July 29, 2011

‪Daily Market Insights - Metals‬‏ - YouTube


this is amazing!

1) Emergency meeting in Jackson Hole of primary dealers just to Jackson Hole at 12:00 noon EDT.
2) Direct injection of money WITHOUT AN AUCTION into the Treasury. This is just plain "printing money" and there is no other way to put it.

‪Daily Market Insights - Metals‬‏ - YouTube

Wednesday, July 27, 2011

Gold And Silver: We Were Right – They Were Wrong

We were right. You were wrong. Gold and silver are in what is called a "secular bull market" and will be for YEARS to come. The financial pundits were dead wrong, and if you are not sitting on some Gold Eagles, Krugeraands or Canadian maples, and not long some gold and silver stocks, you just missed a pile of easy money.

However, this show is a LONG way from over. There will be pullbacks, and some of them will be quite dramatic. If you are a trader, and are very nimble and very lucky, you might short a pullback here and there and make some money. I was a local in the futures pits (wheat, mostly) and good in and out traders can occasionally scalp a few ticks on a pullback.

However, your average shlub investor is not that good a trader. Your mouth and your ego may try to substitute, but truth is, if you fight the trend, you are gonna go broke...... spectacularly. Plus, you will watch your finances dwindle, your purchasing power drop, and you will be, in a word, UNHAPPY.

If you are an active trader, rather than do the stupid thing and sell the spikes and then try to jawbone the market down (PHENOMENALLY stupid), why not BE HAPPY? Buy the dips, lighten your position on the spikes and then buy heavier on the next dip.

You know, it is what EVERY successful trader does in a clear, defined, demonstrated trend, and gold and silver are in such a trend that only a certified single digit IQ moron would deny it. This one will last for YEARS because of the underlying structural situation and the fact that politicians always bungle this stuff. There is plenty of time to get smart and get long and make a chamberpot full of cash.

There is still PLENTY of time to get in on the road between gold 1600 to gold 2000 (or more) and silver from 40 to 100 dollars plus (these are very consevative estimates...., I actually look for values to be spectacularly higher). Buy some silver eagles, or silver dollars, or old 90% silver quarters/dimes/halves and just put them away.

Get happy and make some money here.

Thursday, July 14, 2011

» Vladimir Putin Calls Bernanke A Hooligan, Angry At American Money Printing

So why is he angry? Because the whole world has the US Dollar as their RESERVE CURRENCY. This means that they have WEALTH STORED IN THE FORM OF DOLLARS, and we are doing the equivalent of lighting a match and throwing it into their currency vaults. OF COURSE he is angry! You would be too, if you stopped watching "Dancing With the Stars" long enough to understand what is going on here.

» Vladimir Putin Calls Bernanke A Hooligan, Angry At American Money Printing Alex Jones' Infowars: There's a war on for your mind!