Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

[c1ue]

Re: Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

Lukester,

I'm not sure what scarier - that I recognize all of those languages - or that you're posting them :p

[Jim Nickerson]

Re: Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

oh, i swallowed the itulip 2001 "questioning fashionable investment advice" hook, line, sinker. but only after i'd listened like a moron to my advisor and got my ass handed to me in the tech bubble. with both hands. here you go!!! here's your ass!!! hope you like it!!!

didn't find itulip until later. but it made sense. i bought 10% gold, 5% silver, 5% plat for a total 20% alloc.

Gold US Gold Eagles 1oz coins: $277 -> $845 (3x)
US Silver Dollars: $4.80 -> $11.50 (2.4x)
Plat US Eagles 1oz coins: $462 -> $1444 (3x)

silver has some catching up to do.

now i look for the sell call. i've seen it on various sites but no sell from ej yet. not once since 2001. and the price has seen big setbacks. now that's what i call sticking to your guns. not that i don't ever wonder when the inflation will end. i'm still in but the higher it goes the more nervous i get. it's starting to feel like the tech bubble all over again. but my neighbors and mailman still aren't in so it isn't.

Thanks, metalman, for the followup to my question.


Below is what Richard Russell posted in his today's site, which may be pertinent to your consternation.

The great primary bull market in gold is finally beginning to heat up. In fact, gold is now straining against its boundaries of resistance. This morning gold was selling for as much as 843, or within easy "shooting distance" of its 1980 record high of 850. This may be the time to repeat the words of W.D. Gann. Mr. Gann is considered by many professionals to have been one of the greatest commodity and stock traders (and thinkers) of all time. Here are Gann's words (courtesy of my old New York friend, Ron Rosen).

"When a stock or a commodity advances into new territory or to prices which it has not reached for months or years, it shows that the force or driving power is working in that direction. It is the same principle as any other force which has been restrained and breaks out. Water may be held back by a dam, but if it breaks through the dam, you would know that it would continue downward until it reaches another dam, or some obstruction or resistance which would stop it.

"Therefore, it is very important to watch old levels of stocks and commodities. The longer the time that elapses between the breaking into new territory, the greater the move you can expect, because the accumulative energy over a long period naturally will produce larger movements than if it only accumulated during a short period of time."

Russell Comment -- If gold can close above its 1980 peak price of 850 -- it will have overcome a resistance level that has held it back for 27 years! Thus, a decisive closing about 850 could bring about at least a doubling of the current dollar price for gold.

In no way am I saying what Russell wrote should be your guide. It is just his opinion.

You are the metalman. I still have a problem with the taxes that accrue with the sale of phyical precious metals.

[metalman]

Re: Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

Thanks, metalman, for the followup to my question.

Below is what Richard Russell posted in his today's site, which may be pertinent to your consternation.

In no way am I saying what Russell wrote should be your guide. It is just his opinion.

You are the metalman. I still have a problem with the taxes that accrue with the sale of phyical physical metals.

will be my usual polite self. russell is a ******* idiot. oh, let me count the ways. kick back, grab a beer. this is gonna take some time. i play back his material like a tape and hit the stop when i hear bullshit.

"The great primary bull market in gold..."

didn't get far, did we? what does "primary bull market" mean? if it does not have a specific definition, it's code for "some arbitrary shit i can hang my shit on later when i want to refer back to some shit i made up."

next...

"...is finally beginning to heat up. In fact, gold is now straining against its boundaries of resistance."

bzzzzzzz! that's the bs buzzer going off. boundaries of resistance? what boundaries? his? check back and for his previous "boundaries" to see if that word means some limit he called before. i've seen 100 of these so called chartshit boundaries come and go without a peep.

"This morning gold was selling for as much as 843, or within easy "shooting distance" of its 1980 record high of 850. This may be the time to repeat the words of W.D. Gann. Mr. Gann is considered by many professionals to have been one of the greatest commodity and stock traders (and thinkers) of all time."

bzzzzz! Invoking the name of the more important than thou. "part performance is no guarantee of future results." who gives a flying fuck about W.D. Gann. "considered by many professionals to have been one of the greatest commodity and stock traders (and thinkers) of all time" that phrase says "i don't have shit analysis to hang my hat on so here's a guy to believe if you don't believe me, sucker!"

"Here are Gann's words (courtesy of my old New York friend, Ron Rosen)."

bzzzzzzz! anytime anyone says "old friend" i figure he's full of shit. that phrase smells like shit. 'new york friend" is even worse. says "he's my pal from the big city" better listen you stupid hick hayseed dumbass"

that's just the first paragraph! moving on.

"When a stock or a commodity advances into new territory or to prices which it has not reached for months or years, it shows that the force or driving power is working in that direction."

huh? what the fuck does that mean? "force or driving power." does he mean central banks? hedge funds? his mother in law? be specific.

"It is the same principle as any other force which has been restrained and breaks out. Water may be held back by a dam, but if it breaks through the dam, you would know that it would continue downward until it reaches another dam, or some obstruction or resistance which would stop it."

yeh, right. it's just like a damn of water. except it's a market and money and a commodity. or maybe it's like the force of a baby and it grabs the spoon of resistance filled with apple sauce and mashes it into the face of resistance that overflows with rage but represses it and writes on a forum instead (you can maybe tell what i've been doing) arbitrary analogy. meaningless babble.

"Therefore, it is very important to watch old levels of stocks and commodities. The longer the time that elapses between the breaking into new territory, the greater the move you can expect, because the accumulative energy over a long period naturally will produce larger movements than if it only accumulated during a short period of time."

"accumulative energy"? think about that for ten seconds. ok time's up. what does it mean? that's right. doesn't mean shit.

Russell Comment -- If gold can close above its 1980 peak price of 850 -- it will have overcome a resistance level that has held it back for 27 years! Thus, a decisive closing about 850 could bring about at least a doubling of the current dollar price for gold.

there is no ******* "resistance level" i've heard this crap for years. 850 in 2007 dollars is maybe 2500? does russell still live in 1980? the market doesn't. none younger than 40 even remembers 850. the guys with their fingers on the trade buttons are 30 and less.

enough rant for tonight. i don't mean to bash russell in particular. all these guys do this. i know why many like russell. "depend"able. old people need that. ;) off to bed.

[zoog]

Re: Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

Metalman in prime form tonight, I see.:p

[Spartacus]

Re: Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

When a stock or a commodity advances into new territory or to prices which it has not reached for months or years, it shows that the force or driving power is working in that direction.

Did Richard start taking Viagra? WTH? I'm damn glad he didn't start in with the penetration analogies ... oh, wait, he did ... OK, I'm damn glad he didn't start with the release analogies ....

didn't get far, did we? what does "primary bull market"

the one that comes after a tertiary correction to a perennial spout of BS. I thought everyone knew THAT

mean? if it does not have a specific definition, it's code for "some arbitrary shit i can hang my shit on later when i want to refer back to some shit i made up."

(a note on style) kind of repetitive. after the 1st shit, try crap or crapola or BS or shite or sheise, or whatever the French call it ...

bzzzzzzz! that's the bs buzzer going off. boundaries of resistance? what boundaries? his? check back and for his previous "boundaries" to see if that word means some limit he called before. i've seen 100 of these so called chartshit boundaries come and go without a peep.

oh, how true ... and interesting how these resistance levels can be adjusted from 1% to 30% fuzzy gray areas

huh? what the fuck does that mean? "force or driving power." does he mean central banks? hedge funds? his mother in law? be specific.

yeh, right. it's just like a damn of water. except it's a market and money and a commodity. or maybe it's like the force of a baby and it grabs the spoon of resistance filled with apple sauce and mashes it into the face of resistance that overflows with rage but represses it and writes on a forum instead (you can maybe tell what i've been doing) arbitrary analogy. meaningless babble.

naahhhh... more like the force it takes to push stuff into a colostomy bag, through the resistance of how much crapola, fungus and wet gas is already in there,

"accumulative energy"? think about that for ten seconds. ok time's up. what does it mean? that's right. doesn't mean shit.

The markets have force field generator, doncha know (I thought everyone knew this from that episode when Spock traded the markets and they built up energy in ...

[Uncle Jack]

Re: Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

rant

Thank you for the rant. I enjoyed that.

I subscribed for a year, along with a Prechter subscription, and both subs were the biggest waste of money I ever laid out there, worse even than any loser I picked during the dotcom era. At least with the loser trades I learned something.

More egregious, if it's possible, is that when he disclosed his membership total of ~8000. At 250/yr., the guy is making $2,000,000 year in and year out for total...

Hey, my shit certainly stinks with the best of them, and I don't begrudge anyone making money for what they do no matter what the amount. I just decided not to contribute to his bottom line anymore when he's not doing anyone any favors to their bottom line.

[jk]

Re: Weiss spent 40 years calling for deflation because there was just TOO MUCH DEBT

i'll stand up for old mr russell here. i like the guy's service. i read that stuff about gold and gann and water and dams, however, and quickly moved on because i thought it was nonsense. but on the whole russell is a pretty sound thinker, in my opinion. he moved into gold early but is no lifelong goldbug. he's able to change his mind, which is more than a lot of people. he's been right on the big picture- gold, commodities, inflation, the deflationary tug of debt. he occasionally has some interesting charts to look at. i think he's better than most services from what i can tell.