Gold Price - Where is it heading?

[Buckfont]

If he hasn't made money in gold and didn't call the beginning of the bull then why listen to him?

Every year these guys pop up, who have completely missed a market that has compounded at 17% for a while now, and say it's all over.... with all due respect most of them have not got a clue what it is all about. When they get bullish then worry...

Who is Mr Kass anyway?

Came across this, this morning. Never heard of this guy either. Funny Mr Z how this arrives in my in box after reading your above post. Are we all doomed

http://seekingalpha.com/article/242886-doug-kass-gold-will-fall-25-in-2011?source=email_watchlist

 

[GumbyLearner]

Came across this, this morning. Never heard of this guy either. Funny Mr Z how this arrives in my in box after reading your above post. Are we all doomed

http://seekingalpha.com/article/242886-doug-kass-gold-will-fall-25-in-2011?source=email_watchlist

Yeah gold has become a crowded trade alright. Especially if you consider the combined PM investors in Chindia combined. But remember this imposter said it was crowded before China got into the game.

Kass is nothing more than a greedy deceptive down-ramper who has no interest in the average mum and dad investor, but lining the pockets of himself and his friends.

I would like to see his short positions in gold for the entirety of 2010.

Ignore him. He is a BS artist!!

And those same ass-clowns on CNBC have been calling Peter Schiff a moron for almost 1/2 a decade.

Shame Kass was 12 months late in calling it a crowded trade and that the gold price would drop to $900 US an oz. And a rally in US dollar. You must be kidding me!!

http://www.expressindia.com/latest-news/China-to-beat-India-grab-No-1-gold-slot/720068/

China's gold import has soared to a record 209 tonnes this year, putting it on track to overtake India as the world's largest consumer of the yellow metal and become a significant force in global bullion prices.

The surge comes at a time when Chinese investors look for insurance against rising inflation and currency appreciation, the 'Financial Times' reported.

China, already the largest bullion miner, imported more than 209 tonnes of gold during the first 10 months of the year, a five-fold increase from an estimate of 45 tonnes last year, paving the way for Beijing to overtake India as the world's largest consumer of gold.
________________________________________________________________________
Anyway, where are the deflationists now?

 

[Buckfont]

Hear hear, Gumby. He kinda reminded of those Nth Korean TV presenters. Full of noise and little substance

 

[GumbyLearner]

Look CNBC still treat Schiff like he's an uneducated ill-informed twit.

Check this vid from December 15, 2010

http://www.europac.net/media/tv_interviews/peter_schiff_december_15_2010_cnbc_–_fast_money

Notice how they ask for his advice at the end of the interview.

 

[Trembling Hand]

Hear hear, Gumby. He kinda reminded of those Nth Korean TV presenters. Full of noise and little substance

Ignore him. He is a BS artist!!

LOL Guys. I know this is never the thread to bring up anything like the truth but you dudes haven't a clue.

He runs a many many many Million dollar Hedge fund with a very good record over a long period.

As for his media calls I've been following his 10 themes for next year stuff since about 05. I think they are running at an accuracy of about 60 %. I'm no huge fan but his stuff is worth a think at least. At least he runs money rather than the Buy buy Buy drivel or You-tube "journalism" this thread collects.

 

[GumbyLearner]

LOL Guys. I know this is never the thread to bring up anything like the truth but you dudes haven't a clue.

He runs a many many many Million dollar Hedge fund with a very good record over a long period.

As for his media calls I've been following his 10 themes for next year stuff since about 05. I think they are running at an accuracy of about 60 %. I'm no huge fan but his stuff is worth a think at least. At least he runs money rather than the Buy buy Buy drivel or You-tube "journalism" this thread collects.

Fair point TH. The guy runs a hedge fund and I don't. But also I don't get paid to give advice. He does.

You could be right about me not having a clue. Except that I bought bullion at $US770
an ounce and still hold. I also bought a range of Aussie stocks most of which pay btw 6-11% annual dividends that have now doubled or tripled in the last 18-24 months.

But hey what would I know. I'm as thick as brick.

I'm happy to wait another twelve months to see if Mr.Kass is right. Are you?

 

[Trembling Hand]

Fair point TH. The guy runs a hedge fund and I don't. But also I don't get paid to give advice. He does.



But hey what would I know. I'm as thick as brick.

But doesn't your buddy Schiff get paid for his advice? also runs money but with a shocking record?? yet his stuff is good??

My point was that Kass from when I was following him mainly in 07-09 was spot on with timing. But cuz his bearish on gold his crap. Oh well anyone got a Youtube???

 

[GumbyLearner]

But cuz his bearish on gold his crap.

You got it in one there buddy. This is the gold thread. And yes correctamundo, he's late 2009 call for gold was complete crap.

Also, don't forget when all the major investment advisory network muppets were telling everyone the financials were safe in 2008. Who was the contrarian that was repeatedly slammed by his misguided opponents (ala Jim Cramer, Ben Stein etc..) ? None, other than Schiff.

Buy Lehman, Bear Stearns, Merrill Lynch is great yada yada..... Get in while their cheap!

 

[Trembling Hand]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

This is the gold thread.

Here I have correctly labelled it for you.

By the way. I hope his right about half of his 2011 prediction, volatility.

 

[Trembling Hand]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

You got it in one there buddy. This is the gold thread. And yes correctamundo, he's late 2009 call for gold was complete crap.

Also, don't forget when all the major investment advisory network muppets were telling everyone the financials were safe in 2008. Who was the contrarian that was repeatedly slammed by his misguided opponents (ala Jim Cramer, Ben Stein etc..) ? None, other than Schiff.

Buy Lehman, Bear Stearns, Merrill Lynch is great yada yada..... Get in while their cheap!

Oh Christ . Its pointless talking to you muppets. For Fark sake he runs a dedicated SHORT fund. He not only was massivively bearish in 07/08 unlike your drop dead cannot make money Schiff he DID make money shorting the wall street yada yada yada.

Thats my point. You have thrown his stuff out of the window without having a clue about his work.

But thats what you get with 8000 odd post of confirmation bias "information".

Now where is Explod??

 

[GumbyLearner]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

Here I have correctly labelled it for you.

By the way. I hope his right about half of his 2011 prediction, volatility.

Sure. All power to you TH.
Maybe you can trade it and maybe I can hold it.
At present, my stop loss is the paper in my wallet.

And by the way, I noticed you changed the title to It ONLY GOES UP........ALWAYS!

Well, that's not true TH. It got smacked when the overleveraged Wall St players bailed on a lot of their holdings. It may happen again and become a buying opportunity for the immediate future.

 

[GumbyLearner]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

Oh Christ . Its pointless talking to you muppets. For Fark sake he runs a dedicated SHORT fund.

Dedicated to what? SHORTING Gold in 2010?????

I can hear BAY 13 now.

WHATTTT AAAA LOOOAAADDD OFFF RUBBBIIIIISSSHHHH !!!

 

[Trembling Hand]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

Lets move on. We might trip over some facts or knowledge and set a first for this thread if I have to explain everything to the Muppets.

 

[GumbyLearner]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

Now where is Explod??

And where the heck is that Amory?

Remember the guy with the US Civil War style grey T-bar Merv Hughes look-a-like MO?

 

[explod]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

And where the heck is that Amory?

Remember the guy with the US Civil War style grey T-bar Merv Hughes look-a-like MO?

Lurking about Gumby. Trying to figure the new site format actually.

Little to say really, great long term trend and at the moment a bit of consolidation over the holidays.

The economic fundamentals drive gold and anyone with half a head to think with can see that with the out of control printing of it means that paper cash is trash.

The problems of Europe are indeed dire but the highlighting of them in the New York Times is merely trying to deflect attention away from the hopeless debt situations in the US.

 

[GumbyLearner]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

Lurking about Gumby. Trying to figure the new site format actually.

Do you personally know Amory? Or are you Amory?

Don't worry mate, I got your back.

 

[explod]

Re: Gold Price - IT ONLY GOES UP......................ALWAYS!

Do you personally know Amory? Or are you Amory?

Don't worry mate, I got your back.

No my idiotic post ought to be deleted. I grabbed the wrong quote, was responding to another. Better not to wake me. And thought T/H that you would certainly know better.

 

[Uncle Festivus]

Because fiat is 'backless' & the amount in circulation is 'discretionary' it's ultimate demise is assured, as students of history can attest. What not is known is the timeline to destruction. So in the meantime the global default currency will always be the currency of last resort, until it's not.

What I'm trying to say is that I think that the USD has already started a technical bull phase, however ephemeral. Gold has had a good run, be happy with it, but don't get blinded by the ultimate fundamentals. It will correct, but this will give me one last chance to 'go nuclear' with a 'fiat capitulation' entry into physical gold as I swap un-guarantee-able Aussie dollars held in my property debt bloated Aussie bank into gold.

Even then gold will be just a temporary barter means of exchange until the next more convenient form of exchange is evolved?

I'm hoping for a 'crash' in gold. But unlike the crash in the equity markets (early 2011 as debt and insolvency cannot be ignored by Mr Market, who is currently hopelessly wrong and short sighted?) this will be a buying opportunity...........

There's also the issue of rising rates in the US - the Bernanke QE2 Call is getting blown out of the water - even though it's some sort of perverse trade, some people will be tempted to get 5% for 10YR T's, competition for gold short-term?

It will continue to BE, until it isn't?

 

[Mr Z]

He runs a many many many Million dollar Hedge fund with a very good record over a long period.

Yeah look... I have been listening to successful guys in denial about gold since 2001 or so. Sure they know their onions in certain areas but they are normally cretins when it comes to gold. There is a bias against gold in the Wall St mind set and that is a fact so you really need to be selective about who you listen too. There are a small number of sane commentators that have got this since the beginning, Kass is not in their number and we typically get one or two Kass's each year telling us it is over for gold...{yawn}. Unfortunately there are also a large number of insane pro gold commentators... they also need to be ignored, all they ever end up achieving is putting people off learning the real story and make gold look like a loony investment.

Anyway, no doubt gold will swing through a big range this year. As for it being the high for the 2011 on Jan 1, I seriously doubt it although I do expect weakness into Jan and possibly Feb with the new tax year beginning and some gains being taken off the table. If this where May/June then I'd be listening a little more closely... by the end of the year we may have hit his numbers but if we do we will have tried to tag 2k first.

Lets talk about it next October or so and see how it is going & let me know when Paulson sell's!

 

[Mr Z]

Because fiat is 'backless' & the amount in circulation is 'discretionary' it's ultimate demise is assured, as students of history can attest. What not is known is the timeline to destruction. So in the meantime the global default currency will always be the currency of last resort, until it's not.

Hmmmmm... it took Rome 200 years so I'd not be betting on anymore than a gold bull market and maybe some 'restructuring' on the global currency scene. It will be interesting to see how much pressure the Euro can bear and if the Amero will ever get up. I tend to think that the yank commentators are burying the Euro a little too soon.... there is a big vested interest there, I think that any crisis will be used to further integrate and consolidate the currecny by 'fixing' the issues. After all lets not forget that the majority of the power in this world wants to see this system continue in some similar form... I very much doubt they will ever go back to gold as some suggest. In fact I think it simply would not work given they way banking works and the growth that Asia is going through.