"Oh, it's coming."
Yup. Sure it is. It's the perfect response because sooner or later, you're likely to be right. It might be twenty years, but sooner or later.... "it's coming"
Insofar as my recommendations to buy physical gold,
See Skippy, right there is a primary difference between you and me. Even though you admit you don't have the credentials to do so, you feel it's quite fine to make specific investment recommendations to perfect strangers on a public message board. I don't.
what other investment - or "cash park", rather (as you're such a stickler for economic "terms")
Ummm...Who exactly uses the term "cash park" as part of financial industry vernacular? No one I've ever talked with. It isn't an economic term. It's a description of an automobile storage facility. But since accuracy in terminology is something you are comfortable ignoring and happy to belittle me for encouraging, knock yourself out.
has held up to gold's standing thusfar? Answer: None.
Wrong. The
30 year Treasury has beaten the shit out of gold since December 7, 2007, the day you posted your
"This is not a drill" thread. If you had bought a 4.5% coupon, 30 year Treasury Bond at market on or about the day you made that declaration, you would have paid slightly less than par for it AND been
paid $45.00 in coupon payments to own it for the last 12 months and it would sell for better than $1,250
today (That's about a 30% return, higher if you had reinvested the interest payments. Gold has done just under 8% from 12/7/07 to today). You were right about the market, I'll give you that. But so far you've been COMPLETELY wrong about gold soaring above $1000. By the way, with maybe two exceptions, EVERY SINGLE ONE of the securities you suggested "for consideration" in
this post have fucking tanked, including
First Gold Corp., that micro-cap you said would "ROCK THIS SPRING!" If by "rock" you meant "Go from the $.90 per share it is now, down and down until May when it will have a short lived rally from fifty cents to eighty cents then continue to plummet to twenty cents" then yes, it rocked. Nice call. Recommending a speculative micro-cap at its peak. Couldn't have done it better myself. Thing is, I've never recommended purchasing a specific security to anyone on this board. Ever.
Treasury Bills are going negative (interest), so that folks who park their cash there are actually PAYING to park it.
You don't watch the Treasury Bond market too closely, do you? Ninety Day Treasury paper has had a negative yield precisely TWICE in the last few months, both occasions lasted a day or
less. The only people who received a negative yield were those AND ONLY THOSE that bought 90 day bills on those two days. The current yield on 90 day paper is ridiculously low, no argument, but that is because the demand for the paper as a safe storage is high and the price has been bid to virtually par.
And that's not even mentioning the dislocation in price between paper GLD and physical bullion - if you can even find any physical to buy. Have you checked prices for physical bullion lately? Thought not.
I look at the Bloomberg website every morning and check their commodities page. So no, I haven't checked lately. It was about 2:00 PM the last I looked. Ahhhhh...ya got me. Good one. Before you decide to respond with a remark that the gold price on Bloomberg isn't the price of physical bullion, let me say "besides you, who gives a fuck?"
I won't advise anyone to sell at $1000 'cause it's going higher. As soon as Obama starts his "stimuli", the printing presses will be fired up and dollar toasted. No way around it.
Maybe. We'll see. But if you are convinced you are right then one would expect a market maven like yourself to be laughing all the way to the bank, yes? After all, if you can so accurately predict the future, you should have your portfolio all set up, right? I'm happy for you. Truly.
Deflation first, inflation next.
On this we agree. But how severe on both fronts is anybody's guess.
But you just go ahead looking through your rose-colored lenses.
Thanks for the kind words. For the record, they're Ray-Ban G15 green. Aviator frames. Held their value at least as good as gold.
It amuses me that you decided to respond to my post in this thread, albeit 4 days later. You claim I must have some sort of agenda merely because I took issue with the OP's characterization of a single, troubled Credit Union in South Florida suspending credit to its depositors as evidence "The other shoe is dropping". It struck me as a curious and dubious claim so I took the time to learn a little about the Credit Union, read a couple articles that were among the top results on a Google search and saw that the OP was employing rather dramatic hyperbole. Why you took this as me wanting to "reassure DU'rs that this is just an isolated incident and it was common knowledge to EVERYONE" is probably due to you having some curious inclination to try and make me look somehow nefarious. You have repeatedly used the expression "Do your own due diligence", a statement I whole heartedly agree with. Does this not apply to people using Credit Unions and Banks?
Lighten up there, Slick. Go and pull the shoebox out from under your bed, dust off and admire your ingots and then go for a walk.
In spite of the fact that they have yet to invent the device that can measure how little I give a shit what you think of me, you have my best wishes for a profitable 2009. May all your trades be net gains.
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
