How bullish can you be on the US dollar?
Chris Temple starts off this morning by focusing on the US dollar. Moving up today on news out of the Eurozone and US economic data the traders seem more than happy to jump on the dollar over any other asset class.
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DT, don’t think anyone hear, the daily analysts or guests have rode the US equity bull since 2011 and certainly not since 2009, makes you wonder no? How can so many experts (I’m certainly not one by any measure) missed such a great US bull run?
here not hear, I’m learning!
Original JJ
I know that my willful following of the many “gurus” before 2012 sure cost me a lot of money. Now that I’ve learned to do my own analysis, I’m back in black and I see the markets a whole lot differently now.
Well done Mark, I hope you never fall into that deep hole again, fantastic!
Right on brother. The sooner you drop the gurus the sooner you can leave their agendas behind. Half of them are talking a book they wrote (the war that was fought before) or a book they want to publish. So they get locked into a mode of thinking trying to impress everyone with their genius. Doing your own analysis is amazingly liberating. Just saying that from my own personal experience. I can hardly count the number of times I have found myself ahead of the herd and timing changes well before the news is a story. I am sure everyone here relates to that feeling when you get that edgy feeling of change and it turns out you are correct. Days or weeks later its a story in the press.
Couldn’t agree more guys!
Guys, there’s no such thing as following a guru. Everyone follows their own judgment, that’s all. The difference is that certain types of people like to blame others for their own mistakes.
You know what little nobody me has in common with Moriarty, Casey, Coffin, etc, etc.?
I have made money and I have lost money with their picks as well as my own. I have turned losers into winners by selling right and winners into losers by selling wrong, but I can’t remember an instance in which I bought something that didn’t give me a chance or many to exit my position a winner.
People who get better at what they’re doing take responsibility for their actions.
Great comment Matthew. I agree with you 100%. Especially with the mention that too many traders are quick on the trigger to blame others for their own choices as if none of the choice was in their own control all along.
I’m going to disagree Matthew, in one aspect (although I do like what you had to say and I definitely agree with it, especially the last sentence). I just don’t completely agree with your first sentence 🙂
Many (not all) of those who “follow gurus” don’t use judgment; they rely on their emotions and its those emotions that cloud their judgment. Just my opinion.
Stay frosty, my friend
I would argue that they still use judgement even if it is poor judgement. Everything we do or even decide not to do requires our judgment. Choosing to trust someone is making a judgment even if the one doing it isn’t mindful of it.
Good answer 😉
Not exactly a “Bull on America,”, DT, but how many times just recently have I pooh-poohed all the calls for a stock market crash, and expressed my opinion that the Dow would be at 30,000 in 8 or 10 years (or however long it takes)?
And that’s unfortunately not because I am bullish all that much on the US economy broadly…though as I have also said umpteen times of late, there are great, exciting opportunities to invest in COMPANIES no matter what the overall market is doing.
So – with all due respect – at least I can take some exception to your characterization.
Chris. it is most likely stock market and gold will go up in the next few years fuelled by easy credit. FED is unstopable. However, people will get poorer due to financial repression. How can old folks survive? Saw WalMart employees ralley to demand higher salary recently? Savers are doomed. When this is all over, Americans ( and a lot other countries) will be in survival mode. You can look at Detroit to have a clue.
109 MILLION ON FOOD SUBSIDIES……….18 different agencies……zerohedge today
109 million? Well Jerry its officially verging on being a top to bottom welfare state then. A nation of renters living off handouts from government and micro managed by literally millions of laws is what?……a kind of grand social experiment. All that’s needed now is for the government take control of the means of production, set up quota systems, close the banks, rob the church and suspend elections. Pretty soon you really will be like a Soviet in Moscow!
I have been there before
Tough life under Communism (if that’s the acceptable term). Its amazing how much China has changed though, Lawrence. You must be older than I thought if you can recall the collectivism of the old days there. We would be talking 50’s and 60’s at least or earlier. But I guess its still one party rule so not everything progressed.
Only a 1/3 , that means 2/3 can support the others, Donkeys , work slaves, that do not know any better. That is where the SCHMUKES COME IN……………
Frank,
Sorry but I believe that 109 million number is not accurate. First when it comes to food assistance many are probably being counted more than once. For example about half of the people of Food Stamps are children. Many of them also are on the National School Lunch Program. So some of the people are getting food assistance from several sources and the same person is being counted two or more times. I guarantee you that there is no where near 109 million different people getting food assistance.
Also this article below has a different take on those 109 million. It states 109,631,000 Americans lived in households that received benefits from one or more federally funded “means-tested programs” — also known as WELFARE — as of the fourth quarter of 2012. It seems to also include things like Medicaid, not only food assistance. And just because you lived in a household where someone got welfare does not mean you got it.
http://www.cnsnews.com/commentary/terence-p-jeffrey/354-percent-109631000-welfare
I still trying to find that ZeroHedge article because I want to see just what they claim. Will post more after I find it.
Frank,
That article that I gave the link to is almost a year old. I want to see the ZeroHedge article. Can you provide me with a link. Thanks.
I came at late 80s when I was 20 something. When I was a child in 60s and 70s, we were dead poor. Nobody wanted to work and anyone was waiting for government handouts. China never considers itself communist. Instead it calls itself socialist. Communism is supposed to be when the world is unified and everyone enjoys equal right and equal wealth, a dreamland. Here people consider dictatorship plus dictatorship communism. It is not by Maxist definition.
I mean dictatorship plus socialism.
Jmiller……..that is why I said with 18 different agencies….
The info is TODAY AT ZEROHEDGE….couple of hours old……….
Frank said, “Jmiller……..that is why I said with 18 different agencies”
Yes but you also said 109 million people on food subsidies which is not true. Many of the 109 million people are getting food assistance from more than one program and are being counted more than once. Many woman and children are in several food assistance programs because they qualify for several. I estimate that only about 50-60 million different people get some kind of food assistance. Still can not find an article on ZeroHedge or any where else about this other then a few from last year, like the link I posted. But they have the 109 million as being on welfare, not just food assistance.
Frank,
I found the actual report from the GAO on Domestic Food Assistance from a few days ago. See link below. If you add up how many received assistance from each agency it comes to about 109 million. Many of the tens of millions of school students qualified for several programs and undoubtedly many were in households that also received food stamps. Same with some of the elderly. Back when I qualified for food stamps if I had children they also would have received food assistance like the National School Lunch Program thus each one would have been counted as receiving food assistance more than once.
JMILLER….SORRY for the confusion…..I only posted what I thought was interesting and posted where it could be found. OOFB
I GUESS WE ARE NOT THIRD WORLD …Yet……sorry bird, it is not official ..Soviet in Moscow!
Lawrence, the whites are moving back to Detroit and the other day Ford announced a $2 billion plant investment in Detroit. Maybe Detroit is the future but not the one you are talking about, Just Saying! DT
CHEAP REAL ESTATE…….zero down….pick up a house for $200 , just cut the weeds.
They need to change the politics , if they want to keep going in the right direction.
Great discussion on Oil. Chris’s thoughts and reasoning is reasonable and well thought out. Must take advantage of his 1/2 price offer!!! In the end, time will tell all and I doubt if Chris will be among the losers.
Very dangerous game in play with Greece, what banks hold the debt of Greece, what will be the domino effect around the world if a Greek outcome is a mistake as letting Lehman fold.
Strong CPI data has the buyers heading into the $ again as its a data point suggesting a rate hike, NO G7 country is talking rate hikes (just rate cuts) only the US so of course the $ goes bid with any indication to raise rates as inflation in the US is ticking up.
Every chartist will look at support resistance on any chart, the $ has resistance at 100 and a weekly close above puts 105-108 with very little resistance to 120 that’s an open gate boys! why does 120 seem so extreme the $ has been waaaaaaaaaay higher in the past = 164 and when the $ was climbing to 164 and 121 the US equity markets climbed as well.
ECB adding QE and the Feds talking rate hikes, perfect storm.
US$ falls mid April from 100 to 93 mid May and gold could not close above $1235, hmmm
Bullish on dollar against what? If you look at the components of USDX, everyone of them is printing new money like there is no tomorrow. How can you be bullish on something which increases in quantity exponentially? As for oil, the price has to go a lot higher for most producers not to stop drilling and shut in wells. Demand is still increasing at around million barrels per day every year. It probably quicker because the price is down. Just got report China has requested Saudi to provide more crude and declined by Saudi. As the paper money loses value, the cost of producing it will go up and producers have to raise the price or be out of business. Where is the oil coming from if you let them go under?
great info………..thanks
Stock halted since 9:40 …
I hope it isn’t one of those halts where they freeze your money for two months and when it is over it opens much lower. DT
I bet it will open higher but if it doesn’t, I wouldn’t read anything into it since it has moved too fast and is overpriced at the moment.
wmf, you were right, Bitgold was over priced, but now?
If we think about this, it make all those crypto currencies obsolete.
Those that own them are going to see that, where will they go?
Bird is right, we are going digital, and possibly cashless, Bitgold puts your wealth outside of the banking system, no negative interest, no bail in.
This is a perfect meld of digital and hard money, and thee are still a few hard money advocates around too.
I always remember Stewart Thomson, “until those pixels are traded for gold all you have is pixels”
Itll take awhile to see the atms appear, but if we can see bitcoin atms is there any doubt we see similar access to bitgold?
Its the floor now, this deal with goldmoney is big, what else they have in mind?
This has the potential to keep governments in line. That’s pretty big.
BB, remember that as a shareholder, your risks are the same as with any stock. You must open an account and get some gold in order to get the benefits that you outlined.
Speaking of the shares, the timing of this deal could keep the momentum going since it will only be seen as a good thing by smart players (Turk does nothing but add credibility, never mind JJ’s opinion).
For now, the shares are “buzz” driven, so it’s anyone’s guess how high it will go before taking a break.
wmf, I am the first to admit I am a crappy trade, I need the raging bull to make me look smart.
I made a few profitable investments in my lif, 1 was buying wheat when the Russian went bust, they couldn’t afford the wheat and it tanked, the thing was, they were talking starvation in Russia,my thinking 1 they are white people, they will get help 2 they had nuclear bambs and the last hing people want is starving people with nukes.
So, sure enough, a deal was made and anyone buying the crash made out well. Nothing to do with charts gold or the American dollar.
I bought surrey met shares, they had half the assets as bmo, bmo at the time was 22$ surey met $1. They go to $24 and I sold, dum move, had I kept them they were worth millions. But, at the time I didn’t know enough to evn enquire about th # of shares, my point again, no charts, nothing to do with gold or dollars.
The next big one was phot,again, no charts simply reason.
And that’s my thinking with bitgold, extrapolate the effect of it, the consequences.
Sure, I made money on the gold bull, who didn’t? Sometimes good money.
But truly big money? Nothing to do with charts.
Bob M has mentioned that a time or 2 I believe.
Yes you can take many 2-5% here and there using charts, but if a person is fixated on his charts, it looks to me they could miss the big ones.
imo, bitgold is huge.
I bought sury met shares
That’s a misconception about charts, BB. I’m not interested in 5% moves. I use charts not only for my “strict” active trading but for all positions. They are extremely useful to me even when entering or exiting specs that I intend to hold for a very long time if necessary. There are a lot of clues provided by the technical indicators that many traders don’t bother with. They provide a historical picture of what capital is doing and since history constantly repeats, it is very useful. The key is drawing the right conclusions from the info.
Charts alone kept me bullish silver when it hit $30 in 2010. In the pullback that followed in January ’11, the MACD and some other things told me that we were only at the half way point so I actually bought silver at the highest price I had ever paid —$28.
When it comes to the juniors, I’m as into the fundamental details as anyone but I don’t know what I would do without my charts. But unlike most chartists, I’m not a chart-only guy at all.
Stewart is dead-on, btw, gold is the ultimate asset.
Nice move by TURK………….jmho
Thanks, backwards Frank — hadn’t seen this announcement. It compels me to get more up to speed in this area. I’ve always had a higher admiration for James Turk than just about any other seasoned gold guru.
I agree about James Turk. As indicated in the article, James = integrity.
I wonder if U.S. accounts at GM will now get the boot. That happened at Via Mat a couple of years ago.
We might have to give OLD BOB M. some credit for the heads up also………….just saying………
What I would like is for James Turk to come on the show like he used to and explain why the PTB shut down part of GM’s features/services but won’t do the same to BG. Right off the bat it makes me wonder if Turk’s setup was superior (and therefore, the PTB didn’t like it). I’m probably wrong and hope that I am.
What I am curious about is why Turk sold at the bottom. Does that make sense to anybody else here? If he really believed in his product and it had a great future it seems to me it made more sense to hold on for another year.
Birdman, read his past calls I posted as his greatest hits, I’m not shocked he sold at all, the guy hasn’t got anything right in years!
How many guru’s actually put money behind their own BS, you’d be shocked to know just how little!
Bird, isn’t it possible Turk got into bitgold at the bottom?
I don’t know his story all that well. Never really followed him or his interviews. But to me it is telling he sold just where most of the gold community thinks a broad basing pattern has developed around the 1200 range. Kind of puzzling really. Isn’t gold supposed to be trading much higher in 2016 according to pretty much everybody?
Sorry bb? Did he take a stake in Bitgold in exchange for his operation? Or was it a straight sale?
Goldmoney got shares of bitgold, it looks to me to be more of a merger.
tmx money has the news. Probly elsewhere too but that’s the place I found it.
xau news.
This is part of the email I received today:
Dear GoldMoney customer,
Today, we announced the acquisition and merger of GoldMoney Network Limited with BitGold Inc. forming the world’s largest and oldest bullion money service with over 60,000 active customers and $1.5 billion in assets under management. BitGold Inc. is a publicly traded company on the Toronto Stock Exchange Venture under the symbol (XAU).
GoldMoney’s existing board members, founder James Turk, Geoff Turk, Mahendra Naik, and Hector Fleming will also be joining the listed company’s board.
I wish James well he needs to find a winner as he and his followers of his advice for years have been getting crushed, to me integrity would be suggesting selling into strength instead of always being a buy side salesmen, in Dec 2012 he suggested gold is ready to soar! from $1680 suggesting $8000 gold and a 8000 Dow wow Dow at the time was 12500, What blows me away is that he is to be a currency expert yet a month earlier Abenomics was introduced to massively devalue $YEN which at the time was 129 on its way to 82 just as gold fell with the weaker $Yen from $1680 to $1140
What a complete bafoon, anyone who followed Armstrong Dec 2012 vs Turk has made insane gains vs insane losses following Turk
It amazes me how such a highly educated man can be so wrong and how he has never apologized to any of his followers just continues to push the same incorrect crap over and over again. No matter how many times I see the likes of Turk I’m still blown away by their ego’s as they never ever say they were wrong!
JJ, the buffoon is you. James has always been very clear about his view that gold and silver are for savings and, as such, one should simply dollar-cost average into them. It’s up to the individual how much of one’s portfolio should consist of savings.
Your trading should not be compared to the portion of a portfolio consisting of gold. In addition (and I should not have to point this out) most people can’t trade and don’t have time to trade the way you do. Trading also comes with many direct and indirect risks that gold does not (again, I should not have to point that out).
What you and the rest of the masses obviously don’t understand is the difference between value and price. You’ve got it backwards if you think the dollar measures gold and that gold does not measure the dollar. Did you notice that the $ price of gasoline came own along with gold? Commodities in general fell substantially versus gold since 2011. Just because there were speculative gains to be had in Fed paper does not mean that gold fell in real terms. Gold did not lose nearly the purchasing power that its dollar price plunge would lead you to believe.
If you’d pay attention, you’d know that Turk HAS acknowledged that the timing of his expectations have been wrong.
Finally, is it your belief that you would still make money if everyone thought exactly as you do?
Martin Armstrong was calling for lower gold in 2001. Much lower than the $253 it hit in 1999. Everyone is wrong on a regular basis, even the smartest guys.
Exactly, Bob. I’ve pointed that out several times here but some people are too far gone already; head over heels…
True enough Bob. Everyone has made fumbles and that includes most who come here including myself. Its just the name of the game. We do our best with the info we can work with, cross our fingers, say a few Hail Mary’s and push the button.
But it sure as hell beats the gambling parlours and the odds are clearly stacked in favour of the guys who focus and do their homework. I am often amazed at how randomly other guys play the markets though.
Like pitching dice or throwing darts and hoping to do well. During a bull, everyone is a genius!
Sorry Matt if you give Turk any credibility your a true, dumb, deaf, blind goldbug. The guy has a proven track record of being soooo wrong for sooo long with outrageous calls.
Your mumble jumble about value and price is a complete waste of reference as Armstrong has pointed out you guys just don’t get it.
Its not my way Matt I don’t create the value of anything its the way of the chart and if everyone put on my trades they would make money and if everyone followed Turk they would have been crushed!!!
Listen to his calls on silver at KWN these past years, you’d be financially ruined! And he backs it up with fancy words and fancy ratios which mean nothing!
Just as anyone shorting the US$ or the Dow on the back of Moriarty’s calls, crushed!
JJ, you’re ignorance is as common as your arrogance. You’ll never understand even that you don’t understand.
So why is it Matt that everything you post is the way, the correct way, every opinion from the very wrong gold gurus’ is correct yet the price of gold proves them 1000% incorrect yet you give no credit to those like me who have made insane gains trading short against all the bullish gold gurus like Turk, I’m the ignorant arrogant one, are you serious!
I don’t have to understand anything all I need is the price on the chart to tell me everything I need and that’s all I’m telling the many here who have been crushed by following the likes of Turk toss the guru’s to the side learn how markets move, learn to read a chart and think for yourself not from these highly educated goof balls who have been dea wrong for far too long and the really sad part is one day the gold bull will return and these clowns will have a following again and the sheeple will get crushed again as they call for to da moon projections yet again, very sad if not criminal!
Yes, JJ, you’re the arrogant one. This goes back to what I pointed out a year ago —that only YOUR way is correct. Your comprehension is on par with you’re writing if you think that I have said that there is anything wrong with your trading. Your problem is that you can only see one approach for your entire portfolio and are clueless when it comes to economic or monetary concerns. But that doesn’t stop you from telling everyone how dumb, wrong, or criminal they are. I don’t think it’s too much to ask that you know what you’re talking about before launching such attacks.
Matt again, So why is it Matt that everything you post is the way, the correct way, every opinion from the very wrong gold gurus’ is correct yet the price of gold proves them 1000% incorrect yet you give no credit to those like me who have made insane gains trading short against all the bullish gold gurus like Turk, I’m the ignorant arrogant one, are you serious!
I’m putting under the spotlight what everyone who followed the advice of these so called experts regarding gold should be outraged about, thank god yes my way doesn’t follow their outlook but chart, how many could learn how to read a chart instead of wasting hours giving these guys a listen. My approach makes money, sorry! the gold guru approach has destroyed the wealth of many! and I’m the arrogant one, these guys are complete scum!
I’m not pointing out anything Matt that isn’t true regarding their calls, if speaking the truth is launching an attack sorry man your lost
Every chart, every opinion you highlight Matt and every guru you pat on the back is correct, great guys! anyone disagree and you attack, how arrogant of you, own any mirrors bud, why is it everything you suggest is the way to do things the way to understand whats going on, wow!
Birdman:
Knock me over with a feather, you nailed that perfectly. Everyone is wrong on a real regular basis. I may have to rethink what I think of you. We all make mistakes but few will actually admit it.
As to GoldMoney and BitGold, James Turk is taking shares in BitGold. He has had his chance to market GoldMoney and frankly not done much. BitGold just picked up 135,000 customers and $1.5 billion in bullion. It’s a giant deal for both of them and James is smart enough to know he and his shareholders are better off with 25% of BitGold than 100% of GoldMoney.
I think the world of Roy Sebag/ No matter if you like or dislike the stock movement, he is a genius at marketing. I am no a permabug on gold, it is a commodity first and foremost but I’ve made it clear that I think we are going back to a gold standard, governments be dammed. BitGold gives individuals the opportunity to vote on a gold standard of their own. We will have a defacto gold standard long before governments actually understand what is going on.
JJ, do you think having integrity and making a good market call are related? I don’t think it’s arrogant at all to defend my long-held opinion that Turk is an honest man. There is no evidence to the contrary that I am aware of.
Bob, I obviously agree with you.
Something people need to understand tho, its not about the PRICE of gold, up,down sideways it doesn’t matter.
Its about USING gold.
You think Mr Price will be interested? lol
You must be a politician Matt you skirt around all my questions and examples, nobody mentioned anything about Turk be dishonest.
Speaks volumes to who you are when you don’t address issues that you know you are way off base, I bet you cheat at golf
Anyone who backs the likes of so many of these so called experts who have fleeced so many investors out of their money consistently pumping an asset that is in a bear market is no better than them
I’m not skirting, jj, I’m tired. It’s hard enough to teach anyone who hasn’t lifted a finger to learn something for themselves, but it’s impossible to teach someone like you who has repeatedly shown contempt for any knowledge that you can’t trade. You can get angry when I inform you that you do not understand gold or economics, or you can do something about it. Based on thousands of hours of my own effort, your ignorance is not in doubt.
I think they never say they are wrong because they honestly believe gold will have a roll to play.
Really a lot of evidence to support that I think.
But the dow guys have sure been right of late, no argueing that.
Personally I figured that would be the case as the first qe started. I didn’t buy the dow or short gold tho. oh well.
But I do think Bitgold just put a little more substance to their company.
You guy saying bitgold got a little ahead of itself were right too.
Good call on your part, with 20/20 a good move would have ben to sell above 7 and rebuy lower.
I wasn’t smart enough for that, but I still feel this bitgold is gonna change things and the shares now are like appl at their beginning.
I just think a lot of people are looking for options to fiat.
At least that discussion has been all over the net for years now.
bb, as I told Matty the list is long as to why gold should be $5000 today BUT I must trade/invest in reality not some far off galaxy
Bitgold could go to da moon, I have no idea, its going to be very interesting to watch, I keep a small fund I label Vegas and I bought 1000sh at $4.11 as I can get my head around it instead of bitcoin, Turk involved doesn’t excite me as now I will always have my eye on the exit
Time will tell
oh bb they are not just a wee wrong as he doesn’t do that?
We are talking massively wrong, imagine buying large at $1680 and shorting the Dow at 12500, your done! crushed! ruined !
JJ…I did buy large at $1680 …and I’m not done, crushed or ruined…..perfectly content…didn’t short the dow…but will at some point…in my opinion Turk is one of the few analysts with any cred….regards…
Well Gator if you worked as a trader you’d be fired nobody would touch you with that lack of ability to read a market no floor manager I ever knew would be pleased knowing a trader was content with a 30% loss, sad!
Why couldn’t YOU read the market at that time, JJ? You were here and you got smoked just like everyone else. You were a happy buyer before the 2013 plunge.
I THINK GATOR made a ton of DOLLARs, before you even knew what a computer was, IF my memory serves me correct, He was with Merr. Lynch, and I think he is retired and living very comfortable in Florida………..Like some only dream about…….
Turk’s Greatest Hits, this is a fav of mine US races towards Hyperinflation, Dec2012
The Master regarding hyperinflation
Marty should be ignored when it comes to his opinions on economics or the monetary system. He should stick with reporting only what Socrates spits out.
Turk should not speak about anything!
Wrong.
jj, Turk has said a monthly purchase of gold for years now.
Richards,Oleary,Price,Rogers,Faber etc etc agree with Turk.
I do too, 5-10% physical gold in the portfolio.
Market/gold..up down round and round but 5-10% seems pretty stable to me.
I think about trades continueally, but gold? Whats to think about?
Forget his name on KWN, its peace of mind. Who cant use a little of that?
original JJ: You are advertising your ignorance. I don’t post anything from the permabulls on gold ever. You will never read the word manipulation or conspiracy on my site, maybe what they say is true but you can’t invest anything on even the most sincere belief in manipulation. It’s noise, not signal.
But James Turk wrote the most brilliant article we have ever posted. I’ll link it
http://www.321gold.com/editorials/turk/turk072408.html
When guys who manage $150 billion say that if you don’t own gold you understand neither history nor economics, maybe you should listen. Go to zero hedge and feed in Ray Dalio.
You are being dogmatic, one dimensional and shallow.
bb, is this not all about making money? is this not all about keeping the wealth we have created? Turk and so many other would be worth the time of day if they could recognize a bull market in anything! If Turk was suggesting only monthly purchases of gold great! but I’ve made money long US equities and shorting the pm’s sector so that I can buy more when the bull returns, this year I’ve made more long the pm’s sector.
Making calls of $8000 gold in Dec of 2012 and 8000 Dow when the month before Abe delivered action to totally devalue the Yen and gold has traded off $ yen ever since, TURK is the expert so he says so why was he so wrong and Ricards, why not suggest buying the Japanese equity market and the Dow so that their followers can make crazy money to BUY MORE GOLD WHEN THE BULL RETURNS??????????????????
JJ, with that thinking we could ask why didn’t the “gurus” and maybe EVERYONE on this site not advise phot shares? What happened there? 5000% gains or was it 50,000% gans? I forget. Either way, blows the doors off anything mentioned here or from any guru.
Nobody watches everything.
Not everyone trades as you and Mat do, not everyone is into charts. Not everyone wants to spend their life attached to a screen, but to each his own.
Myself, for example play a little and keep my eyes open for something big, these 2% gains here and there are not what Im after
But you are absolutely right, the way you go about it makes money, bottom line.
A thing about life.
I played pro cards for about 6 years, yup, I clobbered and made lots, lottsa faster horses,younger women and older whiskey, whats the result? I spent my life surrounded by losers. lol
When we decide things, we choose they way we live our lives.
5-10% physical seems fine to me, sure hasn’t hurt me 1 little bit.
And anything I spent on gold might have gone to women, booze or gambling anyway, or worse, I coulda waisted it.
Not suggesting anyone nail all the rocket stocks bb but this is a gold site is it not, the guests speak of gold, currencies and equity indexs
I done waisted some too … added two notchos to my belt.
That was a good one, Irwin. 🙂 🙂 🙂
Of course JJ, all Im saying is there are more than 1 way to skin cats.
Personally I leave the paws on.
Ohhh, that was not exactly politically correct Im sure.
BB, fur buyers these days don’t like the paws left on. You should stop just above the pad for a bobcat and above the elbow for your coyotes and foxes. 😉
I agree with you about Marty. He is clueless about the monetary system.
(OT) Rubicon (RBY)
I cannot remember who recommended Rubicon to me, but thank you.
I have finished my DD and charting. It passes all of my tests, so I will be averaging in over the summer.
Does anyone else own RBY?
Rate hikes are a done deal Chris, from Yellen today
http://www.zerohedge.com/news/2015-05-22/yellen-speaks-prospects-economy-%E2%80%94-live-feed
Could be, JJ…if the MLB season ended today, the Cubbies would be a wild card entry. So it’s all conceivable! Like I said before, maybe Yellen will throw out the first pitch at Wrigley Field.
Mr. Temple….If the Cubbies make the playoff it’s because they stole our manager (Tampa Bay Rays).
There’s plenty of overhead resistance for the dollar and volume is bearish:
http://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=1&mn=1&dy=0&id=p86584987204&a=409329901
no there is not, sorry
Looks like someone needs a nap.
So why is it Matt that everything you post is the way, the correct way, every opinion from the very wrong gold gurus’ is correct yet the price of gold proves them 1000% incorrect yet you give no credit to those like me who have made insane gains trading short against all the bullish gold gurus like Turk, I’m the ignorant arrogant one, are you serious!
I don’t have to understand anything all I need is the price on the chart to tell me everything I need and that’s all I’m telling the many here who have been crushed by following the likes of Turk toss the guru’s to the side learn how markets move, learn to read a chart and think for yourself not from these highly educated goof balls who have been dea wrong for far too long and the really sad part is one day the gold bull will return and these clowns will have a following again and the sheeple will get crushed again as they call for to da moon projections yet again, very sad if not criminal!
+1 original jj
Turk blew a lot of things up and a 1000 other’s experts. I like some a Mats charts but the dollar is in a bull still. it’s like him saying we are in a cyclical bull for gold. Ya know what? It’s in a BEAR now. Turk is a gold pumper and more so his gold company.
Dick Tracy. On Your very first comment.
I talked to Alex Doulis that wrote take your money and run Tax haven book about 3 years ago. I was thinking of moving countries. The last this he said to me was. ” I’m bullish as hell on USA”. That’s when it was really in the tank. JFT one of the only good money managers I know. Moved his 200mil to the US 11 months ago.
Follow the brains I say. So many bash the U.S. But it looks grand in many places compaired to the rest of the planet.
Anywho….I’m just looking at GUY.to and a major breakout today.
SMF has a good setup along with others. I don’t hate gold…not by any means. I hate the people that misrepresent it and think they can call it. Virtually no one can.
I think the charts can tell us something though and I like some gold companies patterns.
jj
Just head over to Stathis site. He’s not wrong at all. Many have hidden ajendas and it’s making themselves money not you. Another service I have are cycle and chart guys. Not perfect but way better then most. If you don’t make money on their trades they go under. They said buy the Nasdaq years ago and said avoid gold. Correcto. Now they see some gold stocks shapping up. Yep. Ya see Bob M has been writing up his stocks all the way down because he pumping ads. He’s absolute crap. Just ask about 10 people I know who got crush with his mini dumpers. He called the silver top yes and told my buddy to switch to gold. Well he knows how that worked out. Ask Bobbo what his take is per month on his ads? It’s like the gold rush days most host killed mining. The money’s made on selling shovels booze and hookers. Lol. Same with ads. Tick tock tick tock.
Got to run. Going to Washington for a party. Oh and it’s booming there on a lot of levels.
Bill:
If what these guys are saying sounds like it’s aimed at you, it is. How much did you pay Stanthis for him to tell you how brilliant he is? If you can’t figure out he is a scam, you are dumber than I thought. How about showing us one single trade that you entered into and profited from based on what he said?

On May 22, 2015 at 10:49 am,
• wocsom morf knarF says:
Guys, there’s no such thing as following a guru. Everyone follows their own judgment, that’s all. The difference is that certain types of people like to blame others for their own mistakes.
You know what little nobody me has in common with Moriarty, Casey, Coffin, etc, etc.?
• I have made money and I have lost money with their picks as well as my own. I have turned losers into winners by selling right and winners into losers by selling wrong, but I can’t remember an instance in which I bought something that didn’t give me a chance or many to exit my position a winner.
People who get better at what they’re doing take responsibility for their actions.
• #comment-##
• 
On May 22, 2015 at 11:01 am,
• Birdman says:
Great comment Matthew. I agree with you 100%. Especially with the mention that too many traders are quick on the trigger to blame others for their own choices as if none of the choice was in their own control all along.
Bill: Maybe you need to stop blaming others for your lack of ability to take a profit.
Turk on the US$ Nov 2014 when trading at 87 within 4 months it was 100..!! anyone who took his advice and shorted the $ got smoked!
http://usawatchdog.com/outlook-for-dollar-not-good-james-turk/
What no snappy reply from anyone, what a joke!
jj everyone is wrong. Only people that got smoked are those that did get out in short order and even those that took the ride over 100 didn’t really get smoked. I would hardly consider that getting smoked. To me, getting smoke is buying Sino-Forest or V.INT. Those are a couple of the companies where people, many people, got smoked. Loosing 15% on the USD is not getting smoked. You don’t start making money or learning from your mistakes until you get mildly (or strongly) smoked a few times. My interpretation of getting smoked is buying v.int at 0.06 cents and selling at .15 instead of riding it up to $2-$3.00 if I had waited a few weeks.
The dollar looked pretty bad this time last year Spring 2014, struggling to stay above 80. It was thrashing around 79-81 for a while and looked very weak despite Euro crisis, Ukraine crisis, etc.
A relative of mine was saying, “Well is the dollar going to collapse?” (He wanted to buy a lot of silver at $20 thinking it will be a moonshot. I didn’t encourage him basically thinking, “Do what you want, mate.” I had really lost interest in gold and silver at that point. He said that silver was way below its highs but he had obviously not looked at the 1980-2000 silver chart. Silver was at $50 in 1980, $5 in 1982 and below $5 for most of the next 18 years.)
I said don’t be sure because the US dollar is still the senior currency and the oscillating trend of the last 40 years says it should be in a bull market. The only thing that worried me was that the USDX was looking so weak when it should have been strong. Then a few months later, when it was ready, it made its move up just after it looked like it could break down.
However the breakout was just about to come.
It might be if you do it on leverage.
The dollar looked pretty bad this time last year Spring2014, struggling to stay above 80. It was thrashing around 79-81 for a while and looked very weak despite Euro crisis, Ukraine crisis, etc.
A relative of mine was saying, “Well is the dollar going to collapse?” He wanted to buy a lot of silver at $20 thinking it will be a moonshot. I didn’t encourage him basically thinking, “Do what you want, mate.” I had really lost interest in gold and silver at that point. He said that silver was way below its highs but he had obviously not looked at the 1980-2000 silver chart. Silver was at $50 in 1980, $5 in 1982 and below $5 for most of the next 18 years.
I said don’t be sure because it is still the senior currency and the trend of the last 40 years says it should be in a bull market. The only thing that worried me was that it was looking so weak when it should have been strong. Then a few months later, when it was ready, it made its move up just after it looked like it could break down.
However the breakout was just about to come.
When I say “it” in the 3rd paragraph, of course I mean the US dollar.
How bullish? If I brainstorm it, there is an upside target of 160 on the USDX.
Ultimately it could go towards infinity if there is a hyperinflation in the Euro, Yen and/or Pound. I am not sure of the weighting of the USDX in terms of whether it uses geometric or arithmetic means but if anything in the denominator goes to zero it means the USDX could go up to a lot more than 160.
jj. roll up I Left u some man.
Whatever anyone thinks James Turk did the right thing for himself which is what we are faced with these days the me society, so I applaud him for his ability to look after #1.
DT, I have to disagree. We have a society that does not look out for number one. If we did, the majority would not be broke debt slaves who’ve squandered their future. Living within one’s means and planning for the future is what I would call looking out for number one.
What we have is the opposite. Everyone is trying to live at the expense of everyone else and now everyone is in deep trouble. This is what most people wrongly believe that selfishness or “looking out for number one” is but it can’t be since the self or “number one” ends up worse off.
True selfishness comes from sound, not immoral behavior and is the foundation of a healthy society. True selfishness does not add hardship and risk to one’s life, it reduces it. Therefore, true selfishness does not have victims, it has beneficiaries.
So I would agree that James Turk has looked out for number one quite well.
Great comments from Matthew and Andrew, that is what is important as well in life namely good respectful communication.
Very well put Matthew. ‘Selfishness’ is a paradox a bit like ‘loving your neighbour as YOURSELF’ is a paradox. Looking after number one means that one can then better look after numbers two and those who follow. It’s only when selfishness turns into rabid self-centred-ness that we’ve got a problem like the neo-cons who care only about themselves. A
Hi Andrew,
Re: “Looking after number one means that one can then better look after numbers two and those who follow.”
Yes, and it also means that there would be much fewer “numbers two” who need looking after. By doing our best individually to see to our current and future needs, we free others of the burden. So it’s easy to see that self respect makes respect for others possible. Most people in the West have showed neither for many years as they’ve stopped saving and now consume their future prosperity by living in debt.
Like all bad actors in politics, the neocon’s power requires an ignorant population.
Yes!!
Bob. OMG. If I had the time to write a lot.
If you were selling subscriptions like Stathis you we be under in a week. Ya see he actually has to make people money or they would not subscribe. You sell ads. 95% of his global analysis his dam good. 95% of your post is a waist of time and the track record of the people is atrocious. That’s what you get when info is free.
You should read his book and any other info….you may learn something. What do you have for market analysys… Your are a contrarion? That’s part of what may work. You know what my 75 year wise father calls you? Chicken little. You don’t want to know what others I know call you. Your the exact opposite of Elon Musk. Now there’s someone worth modelling after. Positive move foward attitude making a difference. You spend your time promoting all negative. There will be pleanty of gas and oil and the great migration to alternative technologies has begun. Stick to pushing ads because your CRASH calls are hilarious. Did you read what I wrote in Dec about your predictions? I laughed like hell.
I’m a big boy I can take loses. The rest I know can’t. You are as good as dead as far as their concerned. I’ve got to get back to my horse and buggie because we are in a terrible depression that’s going to be even worse than Bob M can imagine. Your words.
Musk is “a guy worth modelling after?” Really? We should all strive to get government help to launch businesses that won’t fly in a free market?
Do you stand for anything? (Rhetorical question, I already know the answer.)
Use the resources you have. Like I said he’s not stupid.
You missed the part that there was a loan paid off with interest at Tesla.
If Stathis was half as smart as he claims, he wouldn’t need to sell subscriptions. Anyone dumb enough to pay him to hear him BS about his record deserves what he’s going to get.
If he’s that smart, why doesn’t he just invest for himself. You really think he wants you to get rich? Grow up and start thinking for yourself. Others are not responsible for your investment decisions, not me and certainly not Stathis.
If the guy managing $150 billion says if you don’t own gold you don’t understand economics, what exactly do you think he’s saying. Well, he’s saying exactly the same thing as Greenspan, the BIS and anyone else with any sense, the world is deeper in debt than it has ever been and there is only one alternative.
It’s the same alternative that your buddy tearing up the countryside doing clear cutting used, go bankrupt and start over. Those with gold and resources will have something. Those who blame everyone else for their investment mistakes will have nothing.
I know what you wrote in December about how stupid I am and how stupid I was for calling a bottom in gold on Nov 6. Well pal, it was true in November and it’s still true.
John C Fremont’s Gold Mine
Bob Moriarty
Archives
Nov 6, 2014
November 6, 2014 is the full moon and it’s common for either markets to accelerate in the direction they are moving or to do a U-turn in direction. With the washout in gold, silver and mining shares of all sorts in the last week or so, investors should be watching for a bottom and sudden move higher.
Find someone who made a better call or admit that maybe you really don’t know what you are talking about.
If you don’t like my website, do what Birdman does of his own free will. Don’t bother reading it and wasting any more of your time.
Remind me how many bottoms you called?
Do you remember you saying It darkest at dawn 2 years ago? Boy it got way darker.
What is the point of your site? Lining your pockets? The people you post are dumb as stumps. You should repost Mike Baloney..these guys just send people in the wrong direction.
You obviously don’t remember the other goofy calls you sent me that went down the tubes do you? .It’s not a bull market Bob as you declared. Did you pull up a chart? That’s hilarious. Gold just stopped going down. 10-20% stocks are in up trends and I own a few. That is not a bull market ya clown.
You are a drama queen. Read back your super duper doom and gloom.
Bob read your Novo super pumping. Do you remember saying that Novo was going to be the Next big discovery that kicks of the next huge move in Gold 2 YEARS ago???
I do. The difference me the idiot and you the brain is I don’t make claims that I can’t back or prove to a greater degree with research. Stathis started a company and a business doing research that’s is actually very accurate. That’s what normal people do. He doesn’t get paid to fly around to push companies where many of them fail.
Bob do you remember about 4 years ago when you said it was the WORST time to be buying a business? I do and it was actually the mutil decade buying Opportunity! Take a look at the conventional stocks! Ford for one. Recessions are fabulous things. They get ride of the dead, major restructuring occurrs, it knocks people wages down or out completely and goes to the bottom line. Not good for the working stiff but great for corps. That’s why the Dow went up and not your ridiculous statement of ” money flowed of of resource stocks and to the Dow for no good reason” not your exact words but in effect. I’ll call it like I see it too.
Two years ago Novo was $.65 a share. It went to $2.15. No one who invested in May of 2013 has lost money. Those who were wise enough and mature enough to take a profit did very well indeed. I know you bought shares, how much did you make?
http://www.321gold.com/editorials/moriarty/moriarty050213.html
Bob continue to stand tall and ignore the fools!
Bob calls it , as he sees it………..Good for BOB M.
If Bitgold is a success it will be taken over by Central Banks and dissolved. DT
DT:
It’s a closet gold standard that people get to vote on all by themselves. If you were in Greece and had $50,000 in a bank right now and you read about BitGold, what would you do?
The Central Banks can go pound sand for all the effect they will have. They are making buggy whips and horse diapers so the streets don’t get messy.
Great point Bob. That is an ideal setup for anyone in Greece threatened by currency controls or the possibility of the advent they return to the Drachma. Same goes for anyone in Russia given the instability of the Ruble. Now that you mention it the idea would work for me given some of my cash is tied up in an African currency. its the spending it part that is not so seamless I suppose.
Maybe just maybe the stock market has hit a permanently high plateau, and is poised to go a lot higher. There are enough people out there who could believe this when they see the dollar going higher and higher, come on you guys be a Bull On America, enough of the doom and gloom. Just saying, signed “The Devil’s advocate.”