Rick is back to update his targets for gold, GDX, and US Markets
Rick Ackerman, Founder of Rick’s Picks is back on the show! We focus on gold’s breakdown and the momentum in US markets.
I will be having Rick on the show on a more regular basis so stay tuned for his updated coverage.
Click here to visit Rick’s website to keep up to date on his trading strategy.
+1 Very nice to hear Rick A’s perspectives and price targets.
long MAC
Hi Rick, it’s good to hear your thoughts, welcome back. DT
Al
I called out Moriarty better know as “Chicken little ” to some.
You know the call for hyperinflation (Cant happen) Never ending stock market crashes, the dollar to be used toilet paper and the collapse of the bond market for what, 20 years?
He said: LOL
“Al begged me to be on his show but it appealed to the idiots like you and wasn’t worth the effort.”
He for one has no clue who I am. #2 I’m a rich idiot that made A LOT off these supposedly crashing asset classes..Especially RE…..WAHOO jack pot!
I sold 80% of my gold shares a waz back.
Looking like a bottom maybe!?
Best
This is sarcasm, right?
PMs gonna get nuked tomorrow.
By the end of the day you’ll wish you’d never heard of gold and silver.
Again…
Promise? You divulge your opinion as if PM traders and holders haven’t seen this game played on them before. I assure you, except for first-time investors, the experienced PM investors are anticipating a gut-wrenching smash in prices. All last summer, it was the experienced PM investors saying “When is the beatdown in PMs going to occur?”
I personally do not expect the beatdown to last very long since a $2 trillion infrastructure spending bill will be proposed within the next few weeks.
Here’s something of special interest to KER guys: the latest report to clients from my Boulder CO friend (and fellow deflationist) Doug Behnfield. He is a MSDW high-net-worth advisor — and also the smartest investor I know. A true Renaissance man, one of his hobbies is restoring vintage Citroens. You may be surprised at how well his Gold/Bond ‘Barbell’ Investment Strategy has done in recent years. The link: https://bit.ly/3uTEIHW
Thanks Rick for posting the info on Doug’s “Barbell” strategy, as an investing approach.
Harry Brown had the same barbell strategy 40 years ago.
Sounds like Harry caught the very beginning of the big bond bull market. I haven’t read Benfield’s views yet but I wouldn’t bet on bonds from here and into the foreseeable future (except, possibly, as a trade).
Doug’s heavy skew toward Treasurys was a huge winner for more than three decades, producing capital gains in some years that exceeded 20%.
Fixed Income investors: I bought a few shares of IVOL so that I don’t forget about it.
Comparison of IVOL and other bond ETFs.
https://stockcharts.com/freecharts/perf.php?IVOL,BKT,GOVT,BOND,AGG,LTPZ,BHK&p=2&O=111010
Citroens are popular in 🇪🇸 Spain
The only way out of an inflationary environment is through a bust that will bring about deflation. Money printing backed by nothing can only cause hyperinflation and will never cure the debt that our governments have handed to the citizenry. DT
>>The only way out of an inflationary environment is through a bust that will bring about deflation.<<
Is that the way the inflationary enviroment in Venezuela is resolving itself? Are you sure that you can not have massive inflation (in price of tangibles) and massive deflation (caused by the huge "destruction" of debt) ocurring at the same time? Years ago, the prediction by some smart people was that in the U.S. there would be a burst of deflation (or threat of deflation) followed by the Fed printing massive amounts to prevent it. Seems like that played out last year. IMHO, the printer will now go brrrrr until it breaks.
HyperInflation and deflation are the only two ways that the unpayable mountain of debt can be liquidated. If you think hyperinflation is coming, you are saying in effect that mortgage lenders will take a few hundred-thousand-dollar bills peeled from your wallet as fair settlement of what you owe. The deflationary path, something I’ve been writing about for many years, implies that all mortgages will eventually be rewritten as leases, allowing ‘everyone’ to stay in their homes and lenders to squeeze every dime from tenants that they can. Which do you think is more likely? Incidentally, the Venezuelan bolivar is not a global reserve currency; it is local, and therefore much easier to hyperinflate. Read Adam Fergusson’s ‘When Money Dies’, and you will understand why Weimar-style hyperinflation is almost impossible for the dollar. You can also visit my home page, which has a commentary on this that will run til Sunday.
Weimar-style money-printing is not possible for reasons explained in the current commentary on my home page, rickackerman.com In brief, the U.S. money supply can be expanded only through the mechanism of borrowing. Other than relatively paltry stimulus checks, there is no helicopter money.
On March 3, 2021 at 12:26 pm,
Norrareal1968 says:
This is sarcasm, right?
——————————-
Which part?
On March 3, 2021 at 1:06 pm,
Joe says:
PMs gonna get nuked tomorrow.
By the end of the day you’ll wish you’d never heard of gold and silver
——————————————————————————————
Nope way to oversold…a bounce is in the offing….
Im not a gold bugger. 90% RE
Nice bounce today! Weeeeeee…. down we go again.
Here this is for stupid Bob M calling Bit coin Beanie baby for years.
That’s what happens when your a washed up dinosaur.
Bitcoin continues to be volatile and seems to be the millennials’ preferred inflation hedge over gold. Bitcoin once pushed above through the $50,000 level while gold falls on its head.
I am proud to be a follower of Bob M as I have purchased 3 of his books. He makes sense to me. I feel like I am being gaslighted everytime I see a CNBC pundit thrilled over Bitcon. One can listen to whoever gives you mental comfort but remember father time will be the judge of who is right or wrong on this matter. IMHO, Bitcon will die but block chain technology will survive to torture us all.
I completely agree. Bob is a very smart guy. Bitcoin is not money, it is not a store of value, it is just a speculative plaything. No one hold bitcoin for transaction purposes. Its chief — and perhaps only — source of appeal is scarcity. If scarcity=money, then I am a monkey’s uncle.
Bill, BC is no inflation hedge. It’s movements have nothing to do with the falling dollar. It is purely speculative. Following its 2017 top, it fell 85% and following its 2019 top, it fell 72%. Did it do so because the purchasing power of the dollar went up? No. Likewise, did it go from pennies to 58,000 because the dollar fell 99.999999999999999999999999 percent? Of course not. It went up because it captured the imagination of the masses with a story.
Gold, on the other hand, isn’t doing anything unusual. It nearly doubled versus the dollar since the summer of 2018 and ended its rise with a huge hockey stick that needed to be fully retraced. If it now dips to 1690, it will have finally also accomplished a “382” Fibonacci retracement of the entire move. Incidentally, 1694 happens to be the 61.8% Fib retracement of the move that began at the March low of 1450 so it has been thoroughly rid of any dumb money covid buyers and can now move without all that 2020 baggage and noise.
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=5&dy=0&id=p14608756449&a=910721792
Hey Mathew!! Hope you are well??
I know that for sure and agree…but electronic currencies are here to stay. People made huge off the Bitty move. Beyond belief. I own zero. Im developing mini storage again. Near shit myself building matts are up 20 to 30% the last year. That’s inflation. I still own Brixton..an a few. I should have launched all of them on the spike. 😢😢
Bough a pile of EDR a@ $2 sold at $7.50..
My guys are still bearish will post when they turn. Their decent.
Busy digging some big ass stumps in my yard with the 580SM. 2.5ft fir good fun cheers
The media Bitcoin relies upon can be altered.
Electronic money exists on egregiously misplaced trust. When the day comes that the banks unexpectedly fail to open, the misplaced trust that enables money funds and the credit cards to function will vanish in an hour. Digital money will turn out to have been a leap of faith. That’s why I tell subscribers to keep a shoebox around that is filled with paper currency. The dollar may be intrinsically worthless, but it is predictable that it will work beautifully when the U.S. economy collapses into a state of barter. The failure of Illinois’ pension system is my bet to start the implosion.
i wonder if bitcoin has had the best returns in history.
gotta be a contender anyway
.The cryptocurrency’s first price increase occurred in 2010 when the value of a single Bitcoin jumped from around $0.0008 to $0.08
I’d bet that it does. Even the tulip mania of the 1630s no longer comes close.
LOL true
I don’t for one moment believe that Bob Moriarty’s reputation will suffer in the least for referring to Bitcoin as a beanie baby. Bitcoin is B.S. plain and simple. DT
Bobs a spaghetti thrower. I told him 4.5 years ago the DOW would rocket. He laughed and it did.
Hes Wayyyyyy overrated DT. He’s got so much stuff wrong I wont even waist my time.
Makin out like gold would only survive for 2 decades. Hilarious.
Considering where stocks are trading today, I’d say Bob has even more reason to laugh.
The Mickey Mantle baseball cards I bought for a penny with gum back in 1959-1962 are worth hundreds of dollars each now. And my rookie card of Carl Yazstremski is worth thousands. I hope my Novo stock does even better.
NOVO will do well. Nothing to do with Bob.
The truth is as follows: America as we know it, is being taken to the woodshed by the Democratic party
I am silently crying inside because I had those same cards and traded them away for like $5 in 1971. Let’s just call it a mistake of youth.
My mother cleaned my room while I was at college and threw them out.
Gold Price Under Pressure but Its Value As Insurance Is Rising: Simon Mikhailovich
Stansberry Research – March 1, 2021
“We are in uncharted waters and history shows that these times are not about trying to make a fortune but about trying to preserve your position,” says Simon Mikhailovich, co-founder of The Bullion Reserve.
“In this interview with Daniela Cambone, Mikhailovich urges investors to be prepared and have access to the means to buy cheap assets when other people don’t have liquidity. “For me, this is not a time to be a hero, but it’s time to preserve and protect,” he said. Mikhailovich makes the case that although the price of gold is under pressure, its value as insurance is rising. He sees the yellow metal as one of the best forms of insurance: “There are times when you should worry about return on your capital and there are times when you should worry about return of your capital.”
If inflation is rising, why is gold price still down? Lobo Tiggre answers
Kitco News – Mar 1, 2021
Gold has held a strong relationship with inflation expectations but more importantly, gold tracks real interest rates, so if nominal rates rise faster than inflation, then gold would see pressure, said Lobo Tiggre of The Independent Speculator.
0:00 – Gold vs. inflation
9:18 – Gold vs risk-on sentiment
14:42 – Gold price action
16:19 – Gold miners
18:45 – Gold to Big Mac ratio
20:13 – Silver
Why is gold down? We must be looking at different graphs. Over the last two years, gold has outperformed nearly all other classes of investable assets.
STATS (active): https://tinyurl.com/3fjs3ex8
Previous screenshots available (from 3/1 on).
GOLD: https://postimg.cc/Xrjvwygg
It has maintained this level all week.
Alternate: https://ibb.co/S5Wzhm9
The lower Boundary Bogey is in play.
Earliest Copper low pushed to Tuesday (plus/minus one day).
All owners of physical decided to sell at about 7:45AM EST. Oh forgot…Fed speak today. Never mind…just the banks…
Still appreciate Rick’s thoughts……….Thanks Cory.