Buy Gold...But Sell!

[fliped42]

Post Deleted

[serge_oc]

Re: Buy Gold...But Sell!

Interesting piece in Salon wonder if this changes EJ's gold sentiment chart. Lots and lots of Gold in the news these days.


http://www.salon.com/news/feature/20...19/glenn_beck/

This analysis looks like its made by 11 year old texting his thoughts while thinking of the next pair of jeans to buy. Pretty naive analysis.

Phrases like -boring stuff- and -bunch of angry fox viewers- is what he uses to justify his position.

Listening to people like this sounding their -sentiment de jour- and not looking at the fundamental issues underneath (like EJ does) is a recipe for -no money when you retire- which is what is happening now to many people who listened to people like this person.

[kartius919]

Re: Buy Gold...But Sell!

I believe it is more an indication of growing loss of confidence in the dollar. The public is finally starting to price their lives in oil and gold rather than the US dollar albatross.

[cjppjc]

Re: Buy Gold...But Sell!

Interesting, he only writes about this year. I wonder if he even knows how gold or gold funds have performed over this decade. I bet he doesn't. I hope his other funds get crushed.

[ggirod]

Re: Buy Gold...But Sell!

Sorry, I wasn't terribly impressed with the guy investing in gold because he was missing the entire point; it is not an investment, it is insurance. Further, stocks and ETFs are not gold; they are an illusion. Believing otherwise is a quick path to losing lots of money.

But, what I really liked was the other ways to make money (not by the author, who was, IMHO, clueless). One suggestion made me really want to load a truck with very neatly packaged heirlooom seeds*, Bekesy water filters, #10 cans of Freeze Dried Foods from Costco (scary!), Aladin lamps, crank powered shortwave radios to listen to Alex Jones and the PowerHour, underpowered solar cells to charge AA batteries, and Dietz Kerosene lamps and then make my way to Montana/Idaho with a Birther bumper sticker and lots of other logos on my truck.

That idea was priceless. It reminded me of the time I bought discount mulch to put in front of my McMansion from an itinerant rental truck with a big load. At the time I thought the guy had a license to print money; he worked hard to deliver/distribute it, and I felt like I had saved some real bux... Imagine the critical role of providing sustenance to the off-gridders who haven't yet discovered that the grid still works.

Then again, I recognize that the grid may well disappear, the seeds prove critical to survival, the water filter prevents Montezuma's Revenge, the lamps could be the only source of light on a long winter evening, freeze dried dinners may be all there is to reconstitute and eat, and the hand crank shortwave delivers Alex Jones... well, 5 out of 6 ain't bad :-)

Anyway, the comments below the story were much better, IMHO than those in the story itself. I just hope the smug guy has enough resources to survive when he wishes he had kept a bit of gold and consulted the list of 100 items not to forget.

* Heirloom seeds are a good thing to have on hand and to start using in any gardening you might be planning. They are definitely the way to keep plants "real" and have varieties true to your memories and to your health. Going overboard is quite another issue, but I don't want to make fun of our only hope for real food in the future.

[pwcmba]

Re: Buy Gold...But Sell!

I did not care for that link. It did something strange to my browser and then locked up. I will now consider Salon web site as virus.

[CanuckinTX]

Re: Buy Gold...But Sell!

If it's just sentiment that you want pay more attention to how often casual acquaintances tell you that they are buying into gold.

Remember when everyone was day trading back in early 2000?

Remember when all everyone talked about in '04 was how great housing is and how they were making a killing and buying crap by yanking out the ever growing equity in their house?

We're nowhere near that yet with gold. If I mention that I own it, 9 out of 10 people still think I'm nuts, especially now that Mr. Market is back over 10k - everyone assumes we're out of the woods now.

[metalman]

Re: Buy Gold...But Sell!

If it's just sentiment that you want pay more attention to how often casual acquaintances tell you that they are buying into gold.

Remember when everyone was day trading back in early 2000?

Remember when all everyone talked about in '04 was how great housing is and how they were making a killing and buying crap by yanking out the ever growing equity in their house?

We're nowhere near that yet with gold. If I mention that I own it, 9 out of 10 people still think I'm nuts, especially now that Mr. Market is back over 10k - everyone assumes we're out of the woods now.

ain't it amazing how fast gold went from 'too cheap and worthless to buy' to 'too expensive to buy'?

where are we on the curve?

[strittmatter]

Re: Buy Gold...But Sell!

ain't it amazing how fast gold went from 'too cheap and worthless to buy' to 'too expensive to buy'?

where are we on the curve?

I was wondering that also. Maybe it's just me but the timeline for certain sequences of events seems to be speeding up a little. I am considering (and I'll bet I'm not alone here) increasing my current 30% p/m allocation to 50%.

[Adeptus]

Re: Buy Gold...But Sell!

That is correct but when gold gets into the mainstream news like this does that change the place on the itulip sentiment meter.

I sincerely doubt it. Never underestimate the vast ignorance of the masses when it comes to common sense, never mind relatively complex financial matters.

Adeptus