mark mchugh

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  • Gold Bulls: Beware
    Eric,

    I've never tried the "reply" button before, so apologies if this posts twice.

    I agree with the theory 100%. I don't know if my nerves can take seeing gold under $500 (but I will agree it's possible now).

    I get more angry everyday about the propaganda surrounding gold. Federal law requires the US mint to provide gold, silver and platinum coins to the public (not friggin' dealers) at market price plus expenses, in "quantities sufficient to meet public demand."

    This is Paulson's job, and I am sure that he is solely responsible for the suspension of the eagle and buffalo coin production (and I don't buy any explanation I see for the "shortage"). He has decided that it is in his buddies best interest to keep precious metals depressed and out of the hands of the general population.

    I've been hoping that the new administration will put an end to the price manipulations very shortly after the inauguration. The "in your face" manipulation is one of the many things that has destroyed confidence in all things American and capitalist.

    I agree acquiring physical is the way to go. What makes me sad is how ugly it will probably be here when you are proved right (and I'm not ruling out the possibility of confiscation either). What's the point of being rich in hell?

    And it's all because Paulson is too spineless to do what he is required by law to do.

    Here's an observation you might find amusing; the people who don't think gold is money are the exact same people who thought house prices never go down.
    Oct 24 00:32 am |Rating: 0 0 |Link to Comment |View article
  • Gold Bulls: Beware
    Eric,

    Hey Eric,

    I agree with the theory 100%. I don't know if my nerves can take seeing gold under $500 (but I will agree it's possible now).

    I get more angry everyday about the propaganda surrounding gold. Federal law requires the US mint to provide gold, silver and platinum coins to the public (not friggin' dealers) at market price plus expenses, in "quantities sufficient to meet public demand."

    This is Paulson's job, and I am sure that he is solely responsible for the suspension of the eagle and buffalo coin production (and I don't buy any explanation I see for the "shortage"). He has decided that it is in his buddies best interest to keep precious metals depressed and out of the hands of the general population.

    I've been hoping that the new administration will put an end to the price manipulations very shortly after the inauguration. The "in your face" manipulation is one of the many things that has destroyed confidence in all things American and capitalist.

    I agree acquiring physical is the way to go. What makes me sad is how ugly it will probably be here when you are proved right (and I'm not ruling out the possibility of confiscation either). What's the point of being rich in hell?

    And it's all because Paulson is too spineless to do what he is required by law to do.

    Here's an observation you might find amusing; the people who don't think gold is money are the exact same people who thought house prices never go down.
    Oct 24 00:28 am |Rating: 0 0 |Link to Comment |View article
  • Gold Bulls: Beware
    recentgldfan,

    This article was actually written on Monday (and yes, I'm a little irritated that it took this long to publish). So, I'd have seemed smarter on Tuesday.

    The Ouija board tells me that $830 is a low-risk entry price right enow. I did not expect that target to be hit so quickly. So, I would expect an over-shoot to the downside, before the next advance.

    The Ouija board expects to see the low after the tenth of the month. So, I'd wait and see for now, which means no new money (not sell), unless, prices go below $775 (which I see as unlikely).

    The omen that I'm looking for is, what will appear to be, a convincing bounce in stocks. Hope this helps.
    Oct 02 16:18 pm |Rating: 0 0 |Link to Comment |View article
  • Dichotomy in W. European Gold and Silver Prices
    NO CLH,
    Losers make sure they're first to post on articles when they have nothing to say. Good luck with your strong dollar!

    When the investing public can buy bullion near spot, all this talk will stop, but that is simply not happening.
    Sep 04 06:51 am |Rating: 0 0 |Link to Comment |View article
  • Gold Price Conspiracy?
    JBP - To elaborate on Fitz's answer. Gold is treated as a collectible and therefore gains are subject to a maximum 28% tax rate. So, it's taxed at your tax bracket rate, or 28% (whichever is lower), regardless of holding period. Most stocks etc. are subject to a 15% max when held more than one year. IRS link for better explanation:

    www.irs.gov/publicatio...

    The precious metals ETF's are subject to the same tax treatment as physical metals. I have no idea how strictly this is enforced.

    I have been told that LEAPS contracts are eligible for the 15% max (regardless of the underlying asset), if held more than 1 year. So you could buy a LEAPS on GLD.

    The tax treatment of precious metals tells me that the government wants to discourage people from owning them (which makes me want them more).
    Aug 20 23:20 pm |Rating: 0 0 |Link to Comment |View article
  • Gold Price Conspiracy?
    Ya know, I too have been waiting for something big to happen after the Olympics. China has yet to flex it's muscles, and I find it hard to believe that their cool with the shenanigans in the US markets.

    I kept waiting to see some posts about what 'something big' might be, but I never did.
    Aug 20 16:14 pm |Rating: 0 0 |Link to Comment |View article
  • An Open Letter to the Plunge Protection Team
    News Flash:

    I'm already sucking on pure turdcicle here. Of course any one who actually read this thread knows that. Not you though, you read a sentence and started slappin' away at the keys. Good work, genius.

    It's not my job to get you caught up, so you don't look retarded when you post. The "substamce" of your post is psycho pre-K and if you spent more time reading you'd know that.

    I only wish that the Ponzi scheme collapsed before SPECULATORS put up the money to create the jobs, that developed the technology that connects dingleberries like you to the world.

    Take you meds.
    Jul 28 08:13 am |Rating: 0 0 |Link to Comment |View article
  • An Open Letter to the Plunge Protection Team
    Dear Rambling Idiot,

    I've read plenty of Ron Paul, so don't lecture me, dude.

    Thanks especially for the CAPS LOCK EMPHASIS. I really highlights the POINT that you don't know ANYTHING.

    Trust me on this, your post shows a complete lack of COMPREHENSION from one paragraph to the NEXT (I hope for your sake that you're drunk), so it really doesn't matter what you think you've read....

    Keep mashing those keys though, if you keep at it you may eventually produce something coherent.
    Jul 25 22:53 pm |Rating: 0 0 |Link to Comment |View article
  • An Open Letter to the Plunge Protection Team
    Thanks all. Victor, you gave me a good laugh (even though I can totally relate).

    Special thanks to ussmls7, fascinating stuff. Got any room for one more wherever you are? Abundant food and hard money sounds great to me.

    What I had hoped to discuss here was more "how do we fix this?". I'm not necessarily proud of "parking" my money, but given the current circumstances, what alternatives do we have? Let's face it, the real return of bonds is horrible given the inflation/currency collapse scenario we're looking at. If everyone moves into metals, or cash, the wheels of commerce grind to a halt.

    I often have trouble distinguishing my good ideas from the bad ones. So, I thought I'd throw this one out there for discussion. My bio should tell you, I'm not running for president.
    Jul 13 16:40 pm |Rating: 0 0 |Link to Comment |View article
  • An Open Letter to the Plunge Protection Team
    Thanks, efficiency. I think you might be the only person who actually read the article. I promise to brush up on my grammar.
    Jul 11 10:53 am |Rating: 0 0 |Link to Comment |View article
  • The Bull Market Continues - In Gold
    I'm just mentioning this as a caveat. The ECB may resume selling gold in late September. Some articles reported that they're done for the year (it's actually the year of the agreement, which began September 27,2007.

    I've also read (can't find it now, though) that if the IMF sales are approved they will probably take place in September as well.

    So you can probably expect some "turbulence"... in the second half as well.
    Jul 09 00:39 am |Rating: 0 0 |Link to Comment |View article
  • Common Misconceptions About the Fed and Gold
    Excellent points, Robert.
    Jul 01 13:30 pm |Rating: 0 0 |Link to Comment |View article
  • Common Misconceptions About the Fed and Gold
    Real good article, Boris.

    I'm telling you, you can't highlight the fact that the Fed is a private institution enough. People don't know! I watched Paulson's speech about expanding the powers of the Fed and not once did he mention that it is private (maybe he doesn't know). Central banks are bankers helping bankers, that's all.

    I hope your analysis is correct, because for me, the hardest part of investing has always been waiting for things to happen.

    Keep writing
    Jun 30 21:51 pm |Rating: 0 0 |Link to Comment |View article
  • Dr. Kudlow’s Prescription? Gold Diagnosis Unclear
    I've got no problem with an analyst being conservative, or KITCO. I consider this price action highly irregular and would like see some better commentary on exactly what happened.
    Jun 25 00:59 am |Rating: 0 0 |Link to Comment |View article
  • Turning Bullish on Gold and Gold Stocks
    Tireman,

    Where do you buy them?
    Apr 15 08:54 am |Rating: 0 0 |Link to Comment |View article

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