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Nickelless
Administrator
USA
5580 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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keys
Penny Collector Member
383 Posts |
Posted - 11/01/2009 : 12:43:37
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The gold bears have been claiming gold is in a bubble since it reached $800 a few years ago, and a few probably were calling a bubble when gold reached $400.
From the article-
"In the 86 10-year periods since 1914, the average real return on gold in sterling terms is minus 9.7%."
And the buying power of the British Pound lost buying power from 1914 to present, a detail that is overlooked by fiat fanantics.
Gold, by the way, is meant to act as a way to preserve and gain buying power while fiat currency loses its buying power gradually. One more detail overlooked by fiat boosters.
"What is more, the current sterling gold price is fast approaching the all-time inflation-adjusted high it hit in 1980"
Which inflation rate are we talking about? The real one via shadowstats or the government made up one? Using the US government inflaton rate of 2.717 since 1980, gold's peak price would be $2,309.45, and we are not even half way there yet. I suspect the infaltion rate in the UK is just as high in the US or higher, so the buying power of the Pound back in 1980 was much stronger, a detail a British gold bear ignores.
"Given significantly weaker jewellery and industrial demand, this must reflect fear of a forthcoming crisis, fear of dollar weakness or good old-fashioned speculation – betting the price will go higher. The price spike has all the hallmarks of a bubble."
Jewelry demand worldwide has not dropped off, at least not in India, China, the middle east, etc.
Fear of dollar weakness-we can see that since the dollar fell below 80 and has little chane of rising above 79 again.
Price spike, gold has been going up in price over years, it has been gaining roughly $80 per year or so since 2000, $80 a year is hardly a spike in the realm of investment.
"Graham Bentley is head of investment marketing at Skandia UK."
AKA a typical Paperbug, a term coined by Adam Brochert.
Read more on paperbugs here-
You must be logged in to see this link.
One more detail, it was the amateurs who warned of the dot com bubble and real estate bubble while the 'experts' claimed no bubble existed. It looks like the 'experts' are warning of a gold bubble that exists only in a gold bear's mind. |
I change with the times-
but like silver coins found in your change
I stay the same.
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The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 11/02/2009 : 16:39:35
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| A perfect example is Jon Nadler over at Kitco. Ostensibly neutral, he has to be one of the most thinly-disguised shills for the price-manipulation gang that there is. He hardly ever has anything positive to say about PM's and constantly refers to believers as tin foil hats. Grrrhhh. |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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keys
Penny Collector Member
383 Posts |
Posted - 11/03/2009 : 16:21:18
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| If Nadler were any more of a gold bear he would be picking out a cave to hybernate in during the Dollar's winter of discontent. |
I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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Ant
Penny Hoarding Member
USA
894 Posts |
 Posted - 11/03/2009 : 22:49:58
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I can't remember when I heard it, but Dave Ramsey has called gold "the Snuggie of investments".
As with most of what Dave Ramsey says, I disagree, but I will admit that's a funny line. |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 11/03/2009 : 23:15:22
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quote:
Originally posted by Ant
I can't remember when I heard it, but Dave Ramsey has called gold "the Snuggie of investments".
As with most of what Dave Ramsey says, I disagree, but I will admit that's a funny line.
Here's the page on Dave's site with that line (I'm on his mailing list ):
You must be logged in to see this link.
In his defense, I think his comments can be read a couple different ways. First of all, much of his advice has to do with getting out of debt, and someone who has a boatload of debt shouldn't go out and start buying gold (or other expensive stuff they don't need as much as they need to pay off their debt). So in that context, he has a point--and I think the fact that he's telling people to do whatever it takes to become debt-free is good. Having said that, Dave isn't taking the long view of history and the U.S. economy that those of us on Realcent are taking, viewing gold, silver, etc., as a hedge against the financial tsunami that's about to hit. Dave Ramsey has some good advice, much of which I have benefited from, but not all of his advice is necessarily good when you look at what's coming down the road. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 11/03/2009 : 23:38:00
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If gold is the Snuggie of investments, silver must be the Sham-Wow. 
I agree with you, Nickeless. DR has helped a lot of people get rid of a lot of debt. I'm just too pessimistic to agree with him for the long term outlook.  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
Edited by - Ant on 11/03/2009 23:40:48 |
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Nickelless
Administrator
USA
5580 Posts |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 11/04/2009 : 06:29:33
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quote:
Originally posted by Nickelless
quote:
Originally posted by Ant
If gold is the Snuggie of investments, silver must be the Sham-Wow.
And FRNs are the "Wow! SHAM!"
Love it! |
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Stupid article: "Is gold the next asset bubble?"
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