Very funny Bloomberg article

[unlucky]

I thought about posting this in the humor section. But apparently these are the serious opinions of a guy named David Pauly.

Gold Buyers Nip at Ultimate Emotional Experience: David Pauly

Why is it no matter how much the world advances intellectually and technologically, people keep speculating on gold?

Gold has to keep rising if current buyers are to get any return. Direct investments in gold pay no interest.

Gold’s latest boom offers the U.S. government an opportunity to capitalize on the emotions of speculators and sell off its own horde of the metal.

Do they think China and Japan buy hundreds of billions of dollar-denominated Treasury securities because America owns some gold? They buy because they’re sure the U.S.’s credit is good.

[pwcmba]

Re: Very funny Bloomberg article

I thought about posting this in the humor section. But apparently these are the serious opinions of a guy named David Pauly.

Gold Buyers Nip at Ultimate Emotional Experience: David Pauly

Pauly should just put his money (paper fiat) where his mouth is and go short the paper gold market. Why not fight the central banks and thousands of years of history. In the end, all he is losing as the position goes against him is paper wealth which is going to zero anyway. GO FOR IT!

[metalman]

Re: Very funny Bloomberg article

I thought about posting this in the humor section. But apparently these are the serious opinions of a guy named David Pauly.

Gold Buyers Nip at Ultimate Emotional Experience: David Pauly

huh... most of his columns are not at all stupid...

Hewlett-Packard Challenges Cisco With 3Com Popgun: David Pauly Nov ...

Hewlett-Packard Challenges Cisco With 3Com Popgun: David Pauly Nov. 16 (Bloomberg ... much. (David Pauly is a Bloomberg News columnist. The ... - 2009-11-16

Buybacks Show Recession Didn’t Make CEOs Any Wiser: David Pauly ...

Buybacks Show Recession Didn’t Make CEOs Any Wiser: David Pauly Oct. 30 (Bloomberg ... pockets. (David Pauly is a Bloomberg News columnist. The ... - 2009-10-30

How Else Goldman Sachs Might Divvy Up $20 Billion: David Pauly Oct ...

How Else Goldman Sachs Might Divvy Up $20 Billion: David Pauly Oct. ... Not at Goldman Sachs. (David Pauly is a Bloomberg News columnist. ... - 2009-10-16

Investors in Treasuries, Dollars Defy Common Sense: David Pauly ...

Investors in Treasuries, Dollars Defy Common Sense: David Pauly Oct. 2 (Bloomberg ... (David Pauly is a Bloomberg News columnist. The opinions ... - 2009-10-02

Bank of America Shareholders Find Their Champion: David Pauly Sept ...

Bank of America Shareholders Find Their Champion: David Pauly Sept. 17 (Bloomberg) -- God bless Judge Rakoff. ... (David Pauly is a Bloomberg News columnist. ... - 2009-09-17

AIG’s Rally Is Really a Dead Cat Bounce: David Pauly (Update1) ...

AIG’s Rally Is Really a Dead Cat Bounce: David Pauly (Update1) Aug. 31 (Bloomberg ... (David Pauly is a Bloomberg News columnist. The opinions ... - 2009-08-31

Stocks Decline, Trimming S&P 500’s Sixth Straight Monthly Gain ...

... Andrew Bary at Barron’s called the stock “overpriced,” while Bloomberg columnist David Pauly said the share rally this month “may not make sense ... - 2009-08-31

AIG Falls as Media Reports Say Rally Was Excessive (Update1) Aug. ...

... company. “It’s hard to know what motivates people speculating in AIG,” wrote David Pauly of Bloomberg in a column today. “Maybe ... - 2009-08-31

Ditch Bonuses, Bring Sense to Wall Street’s Pay: David Pauly Aug ...
Ditch Bonuses, Bring Sense to Wall Street’s Pay: David Pauly Aug. 17 (Bloomberg) --
Start with two principles. ... (David Pauly is a Bloomberg News columnist. ...
- 2009-08-17

Wall Street Analysts Keep Telling Big Earnings Lie: David Pauly ...

Wall Street Analysts Keep Telling Big Earnings Lie: David Pauly July 30 (Bloomberg) -- At a time when the financial industry’s credibility is at an all-time ... - 2009-07-30

Goldman Sachs Rally Almost Lifts Investor Faith: David Pauly July ...

Goldman Sachs Rally Almost Lifts Investor Faith: David Pauly July 15 (Bloomberg) -- Meredith Whitney took away. ... (David Pauly is a Bloomberg News columnist. ... - 2009-07-15

Wall Street Needs a Heavy Dose of Brooksley Born: David Pauly June ...

Wall Street Needs a Heavy Dose of Brooksley Born: David Pauly June 30 (Bloomberg) -- If the US government is serious about fixing the banking system, it will ... - 2009-06-30

Bank Investors Throw Money at Ailing Companies: David Pauly June ...

Bank Investors Throw Money at Ailing Companies: David Pauly June 11 (Bloomberg) -- Investors are oblivious. ... (David Pauly is a columnist for Bloomberg. ... - 2009-06-11

General Motors Bondholders Might Take 20 Percent: David Pauly May ...

General Motors Bondholders Might Take 20 Percent: David Pauly May 28 (Bloomberg) -- It will be a shame if General Motors Corp. goes ... - 2009-05-28

Fiat Plus Chrysler Plus Opel Is One Crazy Idea: David Pauly May 13 ...

Fiat Plus Chrysler Plus Opel Is One Crazy Idea: David Pauly May 13 (Bloomberg) -- Fiat SpA Chief Executive Officer Sergio Marchionne is nuts. ... - 2009-05-13

If Banks Are Too Big to Fail, Take an Ax to Them: David Pauly ...

If Banks Are Too Big to Fail, Take an Ax to Them: David Pauly April 29 (Bloomberg) -- Every town’s Main Street Trust & Savings Bank should be the model for ... - 2009-04-29

Newspapers Are on Fast, Worrisome Path to Oblivion: David Pauly ...

Newspapers Are on Fast, Worrisome Path to Oblivion: David Pauly April 14 (Bloomberg) -- I just hope I die before all the newspapers do. ... - 2009-04-14

AIG Bonus Boneheads Do Need to Visit Paris: Scott Soshnick March ...

... Mindset Over Money My colleague, David Pauly, had it right in his column yesterday when he said the uproar over the $165 million in AIG bonus money isn’t ... - 2009-03-25

AIG Pay Uproar Not Worth 1% of Our Time: David Pauly (Update1) ...
AIG Pay Uproar Not Worth 1% of Our Time: David Pauly (Update1) March 24 (Bloomberg) --
Do the math: $165 million (the size of the headline-grabbing bonuses ...
- 2009-03-24

my take? he doesn't own any gold.

[unlucky]

Re: Very funny Bloomberg article

You're right, somewhat bizarre. Either he doesn't hold gold, or has some ideological issue with the "barbarous relic".

[skidder]

Re: Very funny Bloomberg article

His Oct 2nd article is titled "investors in Treasuries, Dollar defy common sense", I didn't read the article but presume that he doesn't feel those are good investments. 2 months later he's shitting on gold buyers. Where does he park his money?
I guess regardless of the outcome, he can claim he was right. Just from the outtakes listed above, I wouldn't bother reading his stuff. He appears seriously misinformed on the topic of gold (at a minimum).

[Starving Steve]

Re: Very funny Bloomberg article

1.) Gold is lovely, but you need income every day to keep the wolf from the door. Where do you get the income to live, because gold will not always go up in price--- nothing grows to the sky?

2.) Bonds and stox pay too little return for the risk one has to incur. And they can not go up in value every day either. Bonds are zero-bound now in interest, and stox (like gold) can only go up if a greater fool can be found.

3.) One can work, but wages are low, especially now without unions. And wages are falling.

4.) Real estate has become a losing investment. And cne can still rent property, but that is increasingly risky, especially now when people can not pay the rents. The income of everyone is being diminished, so how can people pay rent? (Real estate suffers in a bad economy.)

5.) The dollar carry-trade will get hammered if the dollar hits bottom, even just a relative bottom. It will take very deep pockets to play the carry-trade game for an extended period of time.

6.) The energy and commodity markets will get hammered if economic recovery stalls-out, worldwide.

7.) Foreign exchange provides no place to hide because of competitive devaluation and currency manipulation by central banks. The yuan is even fixed directly to the dollar.

There are no safe places to hide in this storm, at least not for very long. Everyone is going to get-the-shaft. Even those with government jobs may get-the-shaft as governments go bankrupt.

Americans/Brits might be forced to work longer hours, but working longer hours and postponing retirement is a difficult plan, especially when one gets old.