Hugh

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  • James Turk on Gold: The Ultimate Inflation and Catastrophe Hedge
    Turk, speaking of gold says:

    "... it is money that doesn’t have counter-party risk. In other words, you’re not reliant upon someone else’s promises for the value of that wealth..."

    The problem I see here is that one is in fact reliant on the promise that his company, "Gold Money" does in fact have the gold in a vault somewhere, that the gold is pure and not debased with another metal, that the banks who own the vaults are honest, that the government will keep their word and not seize the gold on a political whim, that those doing the counting are telling the truth...

    There is risk, there are promises.
    May 22 01:06 am |Rating: 0 0 |Link to Comment |View article
  • Gold Prices Can Fall, Regardless of Fundamentals
    And easily go up. You forgot that part.
    May 19 15:26 pm |Rating: 0 0 |Link to Comment |View article
  • Time to Buy Gold
    #17. The U.S. government confiscates all gold and declares gold ownership to be a felony.
    May 19 12:52 pm |Rating: 0 0 |Link to Comment |View article
  • A Look at the Respective Rallies in Tech, Housing and Oil
    The word, "bubble," is in a bubble. Too much "bubble" talk, and soon the word will be meaningless.
    May 19 03:39 am |Rating: 0 0 |Link to Comment |View article
  • Hard Assets Heresy: Talking Down Gold
    Why Dennis Gartman has no idea what will happen with the gold price:

    seekingalpha.com/artic...
    May 15 12:25 pm |Rating: 0 0 |Link to Comment |View article
  • Yale's Shiller: Housing Decline Could Be Worse Than Great Depression
    Houses do not average 5% per year. For a 100 years they have averaged 1% per year in real constant dollars. See Shiller's book.
    Apr 23 18:20 pm |Rating: 0 0 |Link to Comment |View article
  • Are Central Banks Out of Their Minds?
    The business cycle is NOT a feature of pure capitalism, but a feature of government mixing with capitalism. In pure capitalism, millions of decisions are constantly being made that self correct markets. In a central bank situation, (government controlled "capitalism"... a hand full of people make big decisions, some wrong, that impact millions.

    Read Ludwig von Mises's Human Action
    Apr 22 04:45 am |Rating: 0 0 |Link to Comment |View article
  • Gold’s 'Grand' Illusion
    if gold id a 'Grand' Illusion," it has been a grand illusion for 5000 years. I doubt a poorly thought-out and poorly written hit piece will change that fact.
    Apr 14 11:24 am |Rating: 0 0 |Link to Comment |View article
  • Gold: The Last Cheap Asset Class?
    What the spike of 1980 tells us is that a very, very, very small number of people had a vision of the future that lasted a very, very, very short period of time.

    What this all means is that the spike was meaningless.
    Apr 09 19:57 pm |Rating: 0 0 |Link to Comment |View article
  • Gold: The Last Cheap Asset Class?
    I'm sick of hearing about the very, very short lived spike to $850. Seems like everyone keeps returning to this novelty as though it has meaning.

    The fact that it didn't last more than a day or so proves that it has no meaning.

    What gives a price meaning is SUPPORT. If, in 1980, the price of gold held $800-900 for several months, then, and only then would it have meaning.

    Also, the idea that gold will return to the $850 price in real dollars, (inflation adjusted) is without any merit. A one day spike (or was it five minutes?) 28 years ago tells us zero (nothing, zilch) about what the market will do tomorrow or next year.

    Come on, get real.
    Apr 09 18:19 pm |Rating: 0 0 |Link to Comment |View article
  • A $1Million Wager for Gold Bears
    No one knows what the price of gold will be. Jim Sinclair is a Kook. Go to his site. Looks like a something dreamed up from a mental institution.
    Apr 02 18:00 pm |Rating: 0 0 |Link to Comment |View article
  • Target's Results Raise Questions
    Americans are spoiled to the hilt.

    Labor is a product. Imagine a boss who demanded a refund from an employee for their wages paid because the employee was lazy and did a poor job, or imagine what this lazy worker would say if the employer demanded a re-do at no charge.

    I bet that billions are lost yearly to business because of exchanges and refunds. Millions of people believe that they can buy a product, abuse it and then return it with no cost.

    Could be that Target is attempting to break this cycle. Good for them.
    Mar 02 09:49 am |Rating: 0 0 |Link to Comment |View article
  • IAU: Can Spot Gold Continue Its Tear?
    As for GLD, go to their web site for an explanation as to how the gold is kept in a trust, in a vault in London I believe. They even have photos of pallets stacked with gold.

    Another good question is, "How do we know the BANKS have our money on hand rather than just paper contracts where they invested in risky schemes?"

    The answer is that they don't have our money, and they did invest it in a lot of risky worthless paper. (such as mortgages)
    Feb 28 11:47 am |Rating: 0 0 |Link to Comment |View article
  • Existing Home Sales "Slipped" 23.4%
    As usual, Mr. Ritholtz get's it right. My take is that it will get worse in housing, much worse. I doubt we will see a return to (in real prices) to the 2006 highs in our lifetimes.
    Feb 26 07:24 am |Rating: 0 0 |Link to Comment |View article
  • John Lee Responds to Nobel Laureate Stiglitz's Subprime Thesis
    The "libertarian free market philosophy," is based on a moral principle rather than an economic one. The concept is that one man has the right to trade with another without government interdiction. If one man is in China and the other in America the principle still applies.
    Feb 10 16:57 pm |Rating: 0 0 |Link to Comment |View article

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