Man Gold is just sky rocketing this morning. With the strengthening dollar and interest rates increasing in Sept. or December who knows what heights Gold Bugs will reach.

If he were a day trader, that would make a difference.

(07-20-2015 08:52 AM)Owl 69/70/75 Wrote:  If he were a day trader, that would make a difference.

Annnnnnnd /thread

Buying opportunity.

It's going lower. Buy at 850.

Still waiting for replies..

(07-19-2015 12:45 PM)Kronke Wrote:  

(07-19-2015 12:25 PM)Machiavelli Wrote:  http://www.thepeterschiffblog.com/2010/0...ntion.html

Thanks for wasting 10 minutes of my time. You obviously didn't watch that video, as it contained nothing relevant nor supported anything you've been claiming.

I bet you thought the "30k" in the tagline was related to a gold forecast. In actuality, it was how many Youtube subscribers he had surpassed at the time. The 50k tagline related to how many subscribers he wanted to hit. You're just Googling "Schiff 50,000" and spamming anything you find at this point. Just admit you were talking out of your ass by a factor of 10x.

(07-19-2015 12:50 PM)Kronke Wrote:  

(07-19-2015 12:22 PM)Machiavelli Wrote:  Gold would never be in my portfolio because I can do a heck of a lot better than it. It would tie up money that could be off doing better things.

Tell me more about all the money you made 2007-2009.

I agree with you that gold "stackers" (those that put every discretionary dollar into gold/silver) are idiots, and are certain to underperform; but you are painting Schiff with that brush, and I don't think it applies. Not at all.

With that said, if you're arrogant enough to think you can predict markets to the extent that you completely disregard an asset class that outperforms others in particular market conditions, there is no talking to you.

(07-20-2015 11:24 AM)Machiavelli Wrote:  It's going lower. Buy at 850.

I have another level of investing. I buy before the x date and sell two days after the y date. 4 times a year for 4 stocks. Find stocks that you know very well that pay a high dividend yield. Most people tell their broker to re invest their dividend. You can make money off of that sentiment. 2007-2008. You make money in bear and bull markets.

Good is a very expensive insurance policy. That is all its really good for.

BTW. That 850 was Goldman Sachs bottom. Cute video though.

(07-20-2015 11:41 AM)Machiavelli Wrote:  Good is a very expensive insurance policy. That is all its really good for.

Couldn't you also buy stocks of gold-mining companies short term, or short the stock if you expect gold to fall?

No one holds gold to grow the portfolio. They hold it because it's never going to not be valuable, unlike pieces of paper and stocks and bonds and such.

LOL.

Does Schiff have a Gold long position he's trying to unwind?

(07-20-2015 01:16 PM)NIU007 Wrote:  

(07-20-2015 11:41 AM)Machiavelli Wrote:  Good is a very expensive insurance policy. That is all its really good for.

Couldn't you also buy stocks of gold-mining companies short term, or short the stock if you expect gold to fall?

Yes. you can buy the stock of companies with gold reserves (much better than simple mining operators), which, in theory, should track along with the price of gold...but

remember that there might be other things that might be impacting the share price, such as debt, management issues, etc
---

That being said, Gold is kind of like Cowry Shells...it has value because its' rare and people accept it as a base of value. In that respect, its a lot like the dollar. Just valuable because people say it is, and not because anyone has that much use for Gold.

I think if someone was truly trying to go for 'real commodity money', they'd go for metals/elements/commodities that had valuable practical uses.

(07-20-2015 11:41 AM)Machiavelli Wrote:  Good is a very expensive insurance policy. That is all its really good for.

I would characterize Gold as very VOLATILE, rather than very expensive.

That's one of the draws that Gold has..for the 'get rich quick dreamers' you can see the returns if you time investing in Gold with the proper amount of luck.

Gold's volatility makes it a very poor investment decision for the vast majority of investors.

An insurance policy would have to cover you. I dont' think Gold is going to cover people in the most likely recession/depression scenario over the next 5 years....

Economic trouble in China.

Gold will fall in that case..as will many stocks.

So it fails in many cases as a hedge too.

(07-21-2015 10:25 AM)Tom in Lazybrook Wrote:  

(07-20-2015 01:16 PM)NIU007 Wrote:  

(07-20-2015 11:41 AM)Machiavelli Wrote:  Good is a very expensive insurance policy. That is all its really good for.

Couldn't you also buy stocks of gold-mining companies short term, or short the stock if you expect gold to fall?

Yes. you can buy the stock of companies with gold reserves (much better than simple mining operators), which, in theory, should track along with the price of gold...but

remember that there might be other things that might be impacting the share price, such as debt, management issues, etc
---

That being said, Gold is kind of like Cowry Shells...it has value because its' rare and people accept it as a base of value. In that respect, its a lot like the dollar. Just valuable because people say it is, and not because anyone has that much use for Gold.

I think if someone was truly trying to go for 'real commodity money', they'd go for metals/elements/commodities that had valuable practical uses.

Yes, it wouldn't be a one-to-one thing with gold prices and gold mining companies but it would be a decent proxy if you didn't want to get into gold futures.