What are the factors keeping Rick bullish on gold?
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Outbreak of inflation zero chance.
Some people don’t see the price of some things increasing I guess, on the other hand some things are decreasing in price.
Looks to me that Rickards has been right, a year or so ago he said we would get both.
I think that’s what I have noticed.
A sharp drop in anything is never a buy signal.
Is it possible for Doc to weigh in on today’s drop in gold and if he sees a further decline or is this a buy signal?
Could be peter, but we will know more in a week or two.
Sorry Doc couldn’t resist.
Sounds like Doc:
But will wait for the Doc.
It’s that time of the year again.
September.
When summer vacations come to an end and students head back to school.
It’s time to get serious again. The time for play is over.
It is also the time when gold is supposed to shine.
How many times have we heard this?
Last year gold was supposed to have a fourth quarter rally.
This year was supposed to be the same thing.
Don’t hold your breath.
Can there still be any doubt gold is in a protracted secular BEAR MARKET?
The only question is what stage of grief are you in?
Denial?
Anger?
Bargaining?
Depression?
Acceptance?
Too many people are still in denial.
Too many people still think we are in a cyclical bear market inside of a secular bull market.
Nonsense.
Some people will once again use this essay as a contrarian indicator and say this proves the bottom is in. Even within hours.
We have heard all this before.
The FACT of the matter is GOLD IS DEAD.
when gold bottomed in 2000 it was time to get long.
Gold was forgotten, unloved, and over sold.
That was the time to get long. I did.
The big money creates a story line that sounds plausible, like US $ collapse and hyperinflation; and that feeds the fire. It’s a good enough story line and the money pours in.
Then in 2011 after 12 years of gains gold gets too high and the smart money sells and creates a new story line. Deflation and rising interest rates will do.
The gold TRADE reverses and the hot money exits. The story line feeds on itself.
WHEN THIS BEAR MARKET ENDS IN 1,3,5 or 10 YEARS FROM NOW the story line will change again and gold will rise. Hope you are there to see it.
Right now it is time to get your head out of the sand, stop the denial and turn off KWN, PS, JR, AND ALL THE OTHER GOLD BULL(sh@t) propagandists with an agenda to sell gold, sell books or sell newsletters.
For those of you who thought gold was a safe haven in the midst of the storm and bought late I feel sorry for you. I feel your pain.
For those of you who got slaughtered in stocks during the credit crises and decided to plunge whatever you had left in gold to save what you could, I feel sorry for you. I feel your pain.
So long
So Long………….The LONG…………..
The bottom is in………and will continue………This is the first time in 8 yrs. I did not listen to any of Sat. broadcast……nor, did I have any interest in doing so…..Wonder what that means…………..?
James! Great to finally see you writing again. Please don’t say “so long” when you have barely just returned. September could yet be interesting as hell. What is a betting man to do? You know I am always a big fan of your race stories. Keep them coming. It will divert our attention from the bloodbath that looks to be shaping up for gold. I said the Euro declines would murder gold dead. So far I have been damned right on that score even if to this very day not one single person has ever openly agreed with me. We need a horse analogy man. You were missed!
My favorite chart person is Tim Knight of “Slope of Hope”. He is not a gold person,just a great chart person. Bottom line? Gold has broken down, stocks & physical. We don’t have to like it, but the gold play is down for now………period.
Yep, just like late May/early June.
Just want to say, looking at europe, Rick’s deflation call is spot on. When QE started 5 years ago, many were expecting hyperinflation by now. Its not happened.
define hyperinflation. Also, whose data will be used?
gold will rally hard when stocks take their dump. If I knew when, I’d have retired already.
The buybacks have to be cut back–they will. All of a sudden the market will realize how bogus earnings per share are due to buybacks and non GAAP and how earnings have grown for the companies using Tax inversion and other lobbied tax breaks.
Off Topic: This one’s for Franky:
Europe’s largest nuclear power plant is vulnerable to ‘direct bombardment’ in Ukraine if caught in the conflict, a Greenpeace nuclear energy expert told a German newspaper, claiming that its nuclear reactors are not protected from armor-piercing weapons.
Greenpeace nuclear expert Tobias Münchmeyer revealed his concerns over the six-reactor Zaporizhia Nuclear Power Plant in eastern Ukraine to Westdeutsche Allgemeine Zeitung. He said the plant was insufficiently protected against a direct bombardment and that 1.2-meter thick reinforced concrete shells surrounding each reactor are strong enough to withstand only a small aircraft crash.
“There are many armor-piercing weapons in the region, which could penetrate these protective covers,” Münchmeyer said, as cited by Deutsche Welle on Saturday.