FoxV's Comments Stream Stats
- 26 Comments, 0
, 0 
- Total Comment Stream rating - = 0
- Free E-Newsletters
- About Seeking Alpha
- About Us
- Contact Us
- What's New
- Readers Feedback
- Advertise With Us
- Contributors
- Contribute an Article
- Feature Your Book
- Our Contributors
- Anonymous Contributions
- Dispute an Article?
- Legal
- Terms of Use
- Privacy
- Copyright
Attention Gold Bugs: Hyperinflation or Deflation?
Funny you should say that Bengunnscave. Its not just that Cayman islands are a tax free zone and allow anonymous banking, but its also because I'm a sailor that the Cayman islands would be a good spot for me.
However if the Pirate title fits, I'll take it.
Arr' ye landlubbin scallywags yur capt'n Bernanke's going down with his ship and he's takin all you with 'im. Lest y'all forget, paper doesn't float.
Give my regards to Davey Jones
Attention Gold Bugs: Hyperinflation or Deflation?
Less we forget Bernanke's Helicopter speech "Deflation: why it won't happen here"
I guess there's some spacious argument that you can make money available but you can get people to borrow, but that's a complete load of bazooka shells.
The US (world's largest debtor nation) is not Japan (World's largest creditor nation), and the American people (wasteful and financially naive) are not the Japanese people (conservative and frugal).
As the unwashed masses beg desperately to be "Stimulated" by congress again, paulson is loading up his 9 Figure bazooka to take another shot at the banks. Mean while Bernanke is setting up the Federal Reserve to be the lender of last resort to everyone.
And when my 0% interest Federally guaranteed loan comes in. I'm going to go out and buy those nicely reduce 400oz bars of gold, while my money can still buy anything at all.
Oh ya, and then I'm going to by a nice property on the Cayman islands and default on that loan.
See ya, wouldn't want to be ya.
Ignore the Hype - Gold as Currency is Dead
"Long live the dollar - and the full faith and credit of the U.S."
wow, that is either the bravest or most foolish statement I have ever seen. I guess only time and Ben will tell which it is.
Dollar and Gold Rise Simultaneously? Bring On the Flying Pigs
New slogan for bankers: "Red Fed gives you wings"
Can Gold Be Suppressed Indefinitely?
The US now walks the road to Weimar, and although you may gloat about the wheelbarrows of cash you have to your friends, you won't be fooling us
Gold Futures' Dirty Secret (Part II)
How is everyone else's experience anyone having issues with buying or delivery
Precious Metals Manipulation: Lawyers Prepare for Battle
Hey all you deflationist out there. I suggest you pull out those $100 bills you've been stuffing under your mattresses and take a close hard look at them. Notice anything different over the last twenty years.
I'll give you a clue, its in the serial numbers.
When the serial number on bars of gold start increasing at the same rate as the serial number on the $100USD, I'll call the gold bull over
Until then enjoy you're paper bonds, stocks and dollars. I guess at the end of the day you'll always have one advantage over us gold bugs. You can always burn your paper notes to keep warm in the winter.
Gold Price Conspiracy?
however as part of the over all theme of "YOU MUST NOT OWN GOLD" we pay provincial sales tax if we buy physical bullion in Ontario and you don't if you buy it in Quebec. That and Kitco is not far from me so if I ever find the shipping too much (are want to scream at them about delaying my order) I can always drive down and visit them. Montreal is a great city and they're right downtown.
btw, if you buy a Gold certificate from the bank, you do not have to pay the tax. Go figure
Gold Price Conspiracy?
The problem with physical etfs and certificates is that at the end of the day all you have is a piece of paper who's only worth is your belief that it can be exchanged for something of value. If that's fine for you, then might as well hold currency. Its the same thing.
If you believe in gold then you probably have an inherent disbelief in the Paper debt train (wreck?) we live with. In which case, the only way to know that what you have is really worth what it is, is to have it in your hands. And this current shortage of physical metal during a price crash demonstrates that something is definitely up with the system
As for storage, I have it at home. Perhaps not the wisest thing to do, but I don't have much and its certainly not worth the risk to life and limb it would cost should somebody "activate" my 300psi, 42 tooth security system ;)
at the end of the day, just don't tell anybody you have it. When people break into a home they're looking for electronics and jewelry, not bullion
P.S.: so nobody tell anyone I keep my bars at home
Gold Price Conspiracy?
So if we buy gold now at $800 (and silver, which I am doing) what happens if Kitco has to fill my order when the price is $900, $1000, or $2000. Kitco has a choice, take a hosing, or start raiding their pools.
Now there is a chance that gold will go down, but that is very unlikely. When India, China, and the middle east get a whiff of this supply crunch, they'll shoot gold to the moon, and the resulting short covering rally will send it to Pluto.
I was always suspecting big things from China to happen after the olympics. Now I understand what it will be. Buy physical metal while you can because pretty soon everyone is going to see just how much paper is worth really worth compared to gold
Remember Bird in the Hand is worth much more than 2 in the bush.
You Can Get on the Gold Train and Ride the Dollar
So first Silver, now Gold Eagles. hmm, raises many questions doesn't it. But I'll side step those and just mention, we now have crashing prices coinciding with shortages.
This is what is known as a "Back up the truck" signal. Don't wait too long to bottom feed. The snap back from this dollar foolishness is going to be astounding.
You Can Get on the Gold Train and Ride the Dollar
All this talk of technicals, but no mention of why the USD has spiked (in a completely unnatural manner) recently. The ECB just went out and bought a wackload of USD. Why, Currency manipulation to give a cover for more interest rate cuts.
There are is so much bad paper out there, bank write downs are heading into the multi trillions (and this is without considering the derivatives fiasco). The Fed funds rate is going to 0%. Bernanke is going to throw the USD under the bus.
So ride the US Dollar at your own peril.
Gold (and Gartman) Haunting Some Investors
Right now we're in the Olympic glow, but that means just two more weeks left of the Chinese getting pushed around by Hank and Ben. When the torch goes out, the cloves come off.
Is the Price of Gold Artificially Depressed?
Could be tinfoil hat stuff, could be legitimate. In the end I don't really know,only JPMorgan does. And its because of that "I don't know" part that I always say if you want to buy Precious metals as a long term investment, buy physical. Its the only way you'll know what you actually have
If you want to buy short term to flip on the swings buy the stocks
As for the Confiscation issue, I'm Canadian, and so far I don't have to worry about it. As for you Americans, I guess it comes down to how you feel about it. A possible alternative is off shore stuff like Buillion Vault account (UK), or Kitco Pools (CAN). But there are Patriot Act issues with this as well so it all comes down to how much your trust your government
Is the Price of Gold Artificially Depressed?
Bird in the hand is worth two in the bush.