This one is for RAY and MATSOP.

Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As "bandwagon" investors join any party, they create their own truth -- for a while.

Dot.com, real estate, oil bubbles. Gold bubble is no different.

Take the money you're willing to invest in gold and buy some 25 year old Scotch instead at least if it loses value you can still savor it

"What motivates most gold purchasers is their belief that the ranks of the fearful will grow."

That's not really an honest statement. Or maybe honest but ignorant to most of recorded history, which is worse.

Gold has been highly valued for longer than recorded history. Its been possible to lose money investing in gold at times but its not the norm. But gold has never turned completely worthless the way some paper currencies have.

Also, the whole "fearful" angle is bullshit. Many people are investing in gold (buying AND selling) because they are making money hand over fist by doing so.

This one is for RAY and MATSOP.

#1 | Posted by DARTHCHENEY at 2012-02-09 01:47 PM | Reply |

Thanks Dearth; and tell me please how Berkshire stock has done compared to gold over the last decade. Over multiple years Buffett is correct; however, over cycles he's not done as well since he doesn't know when to shift his assets from financials to tangibles. Of course he has some built in advantages but if you took them away he would do more poorly then he is now. Over the next 5 years I'll still hang with precious metals and beat the pants off of Buffett. After 5 years or later when I see the precious metal boon peaking I'll then conform once again to the Buffett way of investing.

Here comes Muttslop to bedazzle us with his investing acumen!

He is smarter than Warren Buffet now. Even thought ANY investor knows better than to invest your entire portfolio into commodities.

Do you self a favor and divest some of that Gold like Buffet is suggesting before it is too late.

I know you WON'T.

#6 | Posted by Monstman at 2012-02-09 04:13 PM | Reply |

I'll put you on my reminder "tab" along with "illegitimate" and "Dearthofknowledge" as to the price of gold over the next 5 years.

I'll put you on my reminder "tab" along with "illegitimate" and "Dearthofknowledge" as to the price of gold over the next 5 years.

#7 | Posted by matsop at 2012-02-09 04:23 PM

That's funny. I heard a lot of similar talk about home prices right before the real estate bubble burst. Like with all commodity bubbles, the supply of suckers eventually runs out.

Why is he trying to talk down gold?

Certainly has nothing to do with CME just cutting the reserve, does it?

Certainly has nothing to do with CME just cutting the reserve, does it?

#9 | Posted by SHEEPLESHEPERD at 2012-02-09 05:11 PM

No, it doesn't. He's been saying a lot of the same things for a while now.

This one is for RAY and MATSOP.
#1 | Posted by DARTHCHENEY

You waisted your time. The dollar has lost 95% of its value against gold over the past 40 years. It doesn't take much insight to see that the dollar is on course to lose 100% of its value against gold.

Dot.com, real estate, oil bubbles. Gold bubble is no different.
#2 | Posted by 2008

Maybe. Just maybe the dollar is in a bubble. The world economy is saturated with dollars, a sure sign of a bubble. Probably no more than one American in a thousand owns gold. If gold was in a bubble, Darth would be selling his gold teeth. I'll bet that thought never occured to you.

Sounds like ol' Ray's in the market for your gold teeth.
ROTFLMAO!

Sounds like ol' Ray's in the market for your gold teeth.
ROTFLMAO!

#13 | Posted by Doc_Sarvis at 2012-02-09 05:33 PM | Reply

He'd be in the market for yours but we hear you gum your food.

Buffett: Invest in Obama's cronyism

we hear...
14 | Posted by matsop

You silly fucks have a predilection for getting the first-person plural mixed up with the first-person singular. My guess is it's because you're so comfortable in a bleating herd.

Anyway, absent the remote possibility of a realistic claim to a position of royalty arising, I'd suggest you - and I mean that both individually and collectively - give a thought to running for pope when Ratzinger finally goes to his crib in the Vatican Grottoes.

Buffet said buy gold (in doublespeak).

again, gold produces nothing.

as i told Ray when he mentioned gold's return since 2001, aapl has risen of 26x since 2001.

so which are you: a jewelry collector, a small industrialist, or one of the "fearful"?

what when the world is burning i won't trade you shelter or food or medicine for gold? wtf am i gonna do with gold?

We all believe you Buff[oon], just like you say you need to pay taxes and your a charitable organization exempt from all the taxes you say to increase, OR

Those billions of $$ you're going to make with your railroad deliveries to the west coast of Canadian oil to China, since Obama disallowed the oil pipeline to the US. Gonna pay any taxes on that? OR

Why did MFGlobal steal all it's customers money, to the tune of 1.2 billion dollars? From their personal, segregated accts? Cause there was NO GOLD TO DELIVER! Right? We understand, we understand.

People please stop taking delivery of gold, so WB can buy it, thanks.

but, but, Glen Beck says it is the only safe investment, and all those ads on FOX have to be true or they would not let them run.

so which are you: a jewelry collector, a small industrialist, or one of the "fearful"?

#18 | Posted by ichiro at 2012-02-10 12:59 AM | Reply

I'm none of the above. I know gold purists and bugs wouldn't like to hear this but I'm an investor. I understand the psychology and how markets move. Gold is in one of those massive bull markets and I recognized the coming mess when Greenspan was looked on as a "deity" and was engaging in his tomfoolery (kind of like Doc). Therefore, I invested in gold realizing we were probably going to have the largest gold bull market this world has and will ever see---and it is not nearly over and we have years to run since this is a global mess where idiot socialistic governments with the assistance of central bankers and their passive and ignorant citizenry have built a ponzi scheme of debt that will take decades to unravel. It's as simple as that but I guess commonsense isn't all that common.

what when the world is burning i won't trade you shelter or food or medicine for gold? wtf am i gonna do with gold?

#18 | Posted by ichiro at 2012-02-10 12:59 AM | Reply |

We are now up to 13 states that have or will have laws that allow precious metals as "legal tender". The worse this situation gets over time, the more people will realize the paper you hold in your wallet isn't worth dung.

Fidelity manages my IRA. I have no input into what they do apart from defining my investment philosophy as "very conservative". They distribute my money 25% stock funds, 72.50% bond funds, 2.50% short term funds - basically for income.

Of these 22 funds there are three who have lost money over the last year. Two international stock funds(6.41% of my portfolio) both recovering now and a Gold fund(0.89%) that is slightly down. I make the assumption that Fidelity is 100% certain to get things more right than me and at the very least 95% more likely to get things right than MATSOP or RAY.

We are now up to 13 states that have or will have laws that allow precious metals as "legal tender".

Good luck with that.

By the way, I'll trade you four Oklahoma frangs, three Texas cubits, two Oregonian credits, an Idaho renn, and a handful of mashers, poppers, shooters, bumbos, bumboozers, biggies, steelies, prits, and a pass to the upcoming Quidditch/42-Man Qquamish competition for a Wonka Bar.

I make the assumption that Fidelity is 100% certain to get things more right than me and at the very least 95% more likely to get things right than MATSOP or RAY.
#23 | Posted by brock

And you're probably wise doing so.

It's nothing short of amazing how many self-and-loudly proclaimed (but fundamentally and hilariously clueless) wunderkinder one encounters on the DR - individuals who fancy themselves expert on matters political, cultural, historical, financial, animal, vegetable, and mineral.

what when the world is burning i won't trade you shelter or food or medicine for gold? wtf am i gonna do with gold?

#18 | POSTED BY ICHIRO AT 2012-02-10 12:59 AM | REPLY | FLAG

That is when my lead collection becomes more valuable than gold.

The above comments remind me that there is no such thing as a liberal who understands money or markets. Party on liberals.

You can fondle the cube, but it will not respond.

and all this time, I thought it was just my aftershave!

Ray

It's been my best performing investment for the last several years.

As long as the world remains in debt that trend will continue.

Bigger news is that Buffett strongly warned AGAINST buying T-bills. He recommended holding 0% US debt as they are junk bonds at this point and backed by nothing.

#30 | Posted by SHEEPLESHEPERD

Bigger news is that Buffett strongly warned AGAINST buying T-bills. He recommended holding 0% US debt as they are junk bonds at this point and backed by nothing.
-------
That's correct inflation will wipe out any gains.

The above comments remind me that there is no such thing as a liberal who understands money or markets. Party on liberals.

#27 | Posted by Ray at 2012-02-10 10:12 AM | Reply | Flag: Flag: (Choose)
FunnyNewsworthyOffensiveAbusiv
e

The problem being, RAY, that over these years you have demonstrated every error of thought and emotion that you lay at the door of other persons.

The fact is, Buffet could never be an expert on gold because he disagrees with you on gold. And you pretty much adopt that formula to any other subject.