Hugh

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    • Tue Jul 15th 06:37 AM
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      Commented on:
      Diamonds Aren't Harry Winston's Best Friend
      What does this have to do with gold?
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    • Sun Jul 13th 14:30 PM
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      Commented on:
      Is Gold a Good Investment During the Credit Crunch?
      Gold is bedrock. Gold is something solid to stand on, like a big rock in a fast moving river. Regardless of inflation or deflation, war or civil unrest, gold is ultimately the favored store of value.

      This is it boys. This is how Gold rolls. Read the above paragraph again and forget all of the charts.
      View article »
    • Fri Jul 11th 05:02 AM
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      Commented on:
      Extreme Opportunity in Gold
      Poor thinking.

      This could also mean: OIL MUST GO DOWN IN PRICE.

      There is no natural law that says ratios must return to some norm.
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    • Wed Jun 18th 06:33 AM
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      Commented on:
      Hyperinflation, Here We Come
      Inflation is sometimes caused by the printing of fiat money, however, the inflation that we have experienced is an inflation of "checkbook money," the money that gets multiplied by the fractional reserve system.

      You put $100 in your bank, your bank loans out $90 of your money, that $90 winds up in another bank, that bank loans $81, that money gets into another bank, and then $70 of that money is loaned, etc.

      This is the modern cause of inflation. Because of this, some argue that we are in a deflation, in that banks are more reluctant to loan and the public reluctant to borrow. This winding down of credit extinguishes the fractional reserve's money creation abilities. There may be more paper money but less total money.
      View article »
    • Fri Jun 13th 13:48 PM
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      Fed Tightening and the Gold Market
      The Fed will most likely cut. Any good news on the economy will be flash in the pan. The Fed sees a weak dollar as a way to inflate out of the huge debt overload. They are praying for wage inflation. Getting the average household income to $200,000 would make milk $40 a gallon, but look how easy is would be for Mr. Smith to make his house payments if flipping hamburgers paid $50 per hour...
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    • Thu Jun 12th 06:33 AM
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      Commented on:
      Homeowners Have Record Low Equity In Homes [Housing Tracker]
      Homeless is not a good term for those who loose their houses due to foreclosure. In fact, many of these people are usually much better off because they most likely stop making payments of two or three thousand dollars per month and move into an apartment for half that amount.
      View article »
    • Thu Jun 12th 05:20 AM
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      Commented on:
      Bespoke's Commodity Snapshot (6/10/08)
      paultaut,

      Look at those charts and tell me what the N.Y. gold closing price will be on June 18th.

      Thank you very much!
      View article »
    • Wed Jun 11th 14:55 PM
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      Commented on:
      Bespoke's Commodity Snapshot (6/10/08)
      History never repeats. The fact that a few trends in Art, Politics, Finance and many others cycle in popularity, doesn't mean history repeats itself.

      Take a snapshot of the world today, and unless you live in the television show the Twilight Zone or Star Trek, the snap shot will be different from all other snapshots ever taken.

      What makes an economy is human action. We have six billion people on earth, all of them taking action daily. What are the possibilities that all of these players will take the same actions again simultaneously?

      Look at the green areas of the above charts. Why aren't these areas extended out into the future? If they can't be accurately extended into the future, the they mean nothing.

      If charts worked, there would be no markets. This is profound, study it.
      View article »
    • Wed Jun 11th 04:24 AM
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      Rating: 0 0
      Commented on:
      Bespoke's Commodity Snapshot (6/10/08)
      Totally meaningless trival. "Overbought" and "oversold" are overused terms that mean nothing.

      If something is "overbought,"... Then is must be at the same time "oversold."

      If a trillion ounces of gold were bought in one hour, one could look at the buyers and claim an "overbought" situation, where another observer could look at the sellers and claim an "oversold" situation. Overbought must therefore cancel oversold, making both terms suitable only for the braindead.

      Charts are history. They tell us nothing about the future because the future of a complex economy is ruled by billions of variables on an hourly basis. That Iran may or may not be attacked by the United States next week, therefore sending gold to over $1000 per oz, might be hinged on the menstrual cycle of some general's wife. Where's the chart for that?

      Its obvious to me that some people write only to chum for business.
      View article »
    • Sun Jun 8th 20:49 PM
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      Commented on:
      Headwinds for Gold?
      Saying, "Gold is not a commodity, it's a currency," is like saying "tuna is not food, it's a fish."

      The fact is that gold is a commodity money. The term, "commodity money" has been around for at least a century.

      Gold is a commodity, and it is a money. Gold is used in electronics, medicine, jewelry. There is gold in your computer.

      From Wikipedia, the free encyclopedia:

      "Commodity money is money whose value comes from a commodity out of which it is made. Examples of commodities that have been used as mediums of exchange include gold, silver, copper, salt, peppercorns, large stones, decorated belts, shells, alcohol, cigarettes, cannabis, and candy."

      Moreover, the word "currency" is incorrect in this case. Even in a fully convertible gold standard, paper receipts that are title for gold are the "currency," and the gold is the actual money.

      If you want to be incorrect, you ought to do it correctly and say, "gold is money, not a commodity." In this way, you only have ONE thing wrong.
      View article »
    • Sat Jun 7th 15:08 PM
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      'Gold as Money' Means a Potentially Massive Rise in Valuation
      Gold is used in electronics. It is found in computers, satellites, etc. I expect that the government might someday declare gold to have "stategic importance," so that the confiscation of gold will have a patriotic overtone, one that will be hard to resist. If you don't turn in your gold, you will be the enemy.

      In this case, one would be hard pressed to find someone to trade with.
      View article »
    • Mon Jun 2nd 14:54 PM
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      Commented on:
      Short Term Warning for Gold Bugs
      There are just too many variables involved for anyone one the planet to really know what is going to happen in the short run to the gold market, or any commodity for that matter. Charts are only history, and are little better than tea leaves.

      Gold is easily moved in either direction by factors outside the gold market itself.

      A "contrarian bearish reading" is nothing more than a "mainstream bullish reading."

      All of the charts ever created, and all of the talk ever uttered, will never replace the fundamental fact that paper money has no backing.
      View article »
    • Thu May 29th 22:18 PM
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      Commented on:
      Gold is Money - And Nothing Else
      What is special about $1034?

      Quote: "If tonight you curse gold, keep this in mind when it crosses$1034, and please leave never to return."

      And, what kind of crap is this???
      View article »
    • Thu May 29th 08:04 AM
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      Commented on:
      Gold is Money - And Nothing Else
      "Gold is a currency, not a commodity."

      Not true. Gold is a commodity that has been used for money for thousands of years, just as salt has been used as money. If one said, "Salt is not a commodity but money," the kookieness would be the same.

      Gold is a commodity money. One of many.

      There is a term: "Money Crank." Some people can go overboard.
      View article »
    • Tue May 27th 15:42 PM
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      52-to-1 Just Right for Gold/Silver Ratio?
      I believe that a gold/silver ratio is a false issue. It really tells us nothing, simply because we can't see the future in terms of new uses FOR and new discoveries OF the metals.

      All the ratio gives us is the chance to resort to the concept of, "blah, blah, blah..."
      View article »