The cluelessness of the MSM surprises even me sometimes. If we aren't at a bottom in gold yet, we are very close to it.

[verdo]

I couldn't go on today without posting this here. You can skip ahead to 3:00 (though the first 3 minutes are fairly interesting). The guy on the left of this panel discussion is the confirmation of why my purchase of gold a few days ago was a decent call. When you have an environment where people like this actually feel bold enough to come out and speak publicly on gold, you know you're close to a bottom. Let me just post a few of my favorite lines from him

"The big bull market in gold is over"

"From 2000 to 2008 then its [gold's] little peak in 2011 was the biggest commodity bull market in history"

"Investors have the false belief that there's going to be inflation. There's not going to be inflation. Inflation is not the printing of money, it is the increase in prices"

"Gold is an investment because people think that prices are going to go up, but they're not going to go up."

"Real estate or housing real estate is a very good investment in China, but gold is not a particularly good investment, and that's going to continue to be the case"

Oh and just as an fyi, this guy has been a long time financial advisor to the mayor of London. No wonder they're in shambles

Enjoy

[photon555]

Re: The cluelessness of the MSM surprises even me sometimes. If we aren't at a bottom in gold yet, we are very close to it.

Someone please pinch me. I've fallen asleep into a nightmare and I can't wake up. Is the solar system passing through a volume of "stupid" space where human credulity is greatly enhanced? If so, why am I one of the few left out of the silly season?

[Milton Kuo]

Re: The cluelessness of the MSM surprises even me sometimes. If we aren't at a bottom in gold yet, we are very close to it.

I kind of regret watching this video. The pro-gold guy, Cao Can, was so unbelievably abrasive and stereotypically rude that I was hoping, praying that something terrible would happen to him. He seems like a Chinese version of Peter Schiff albeit far more obnoxious.

Listening to the advice offered by either of these two guys is probably going to be bad for one's economic well-being although Can likely will be correct on gold out of sheer dumb luck. He probably doesn't have a good answer why gold fell in price from 1980 to 2000.

As for John Ross, the guy on the left, about the only thing he got right is that inflation is not driven solely by creation of large amounts of money. His bullishness on investing in Chinese real estate is utterly insane. No wonder he's in academia.

[verdo]

Re: The cluelessness of the MSM surprises even me sometimes. If we aren't at a bottom in gold yet, we are very close to it.

This always perplexes me. If you go to school to get an PhD in English literature, you're know a lot about it. If you go for a PhD in Physics, you'll know a lot about it. But if you go for a PhD in economics, you know almost nothing. Why...

[don]

Re: The cluelessness of the MSM surprises even me sometimes. If we aren't at a bottom in gold yet, we are very close to it.

This always perplexes me. If you go to school to get an PhD in English literature, you're know a lot about it. If you go for a PhD in Physics, you'll know a lot about it. But if you go for a PhD in economics, you know almost nothing. Why...

in a system that transfers wealth to a small elite at the top of the pyramid, an elite that creates no substantial wealth themselves, obfuscation is the name of the game. follow the money . . .