Well, its been a decade for me to be in gold and silver. But this morning - there were signals that the game is a changin'.
Lenny Dykstra, yes - the former baseball star, was featured in a TV commercial pumping gold and silver bullion. This is the same Dykstra who was wild on real estate and heavy on stock options trading the past decade.
While we may be early in the speculative blowoff - I do believe Dykstra signals we are entering that phase. Irrespective of what the Duck has said (and we both have been right for a very long time to be in precious metals), gold and silver are but hard assets that have seen a very nice run for a long time. Will it continue for another 10 years - I truly doubt it. 5? maybe. 2? probably - but not without some heart attacks.
I see severe volatility coming to precious metals. Before prices peak, I suspect there will be a confidence shattering downdraft, just like 3 decades ago (look it up, quite the retracement). Key is to discern when that downdraft will visit before the speculative blowoff occurs.
Dykstra indicates to me that the downdraft is not far off - some months, maybe a year away. But volatility means its not all up from here...
QWAK,canucanoe,It is in the FUNDAMENTALS of -- WHAT is MONEY that you get CONFUSED -- you and 99.99% of people TOO -- the FIAT CURENCY confligration has just bairly got started so far!
ALL PAPER PROMISSES will BURN to ASHES -- there is SMOKE every ware and they have put up lots of MIRRORS to help confuse you! :(
The CRAZE has not started because of a COMERCIAL!
That is just plane SILLY talk and trying to maintain the STATUS QUO which is obviously CHANGING and will be RETURNING to the LONG TIME STANDARDS of GOLD being MONEY -- FIAT never lasts very long -- too many opertunities to SCAM and create infinite amounts because there is NO limiting factor to GREED! :(
THIS TIME is just BIGER than ever befor BUT they always FAIL -- every single time in HISTORY!:)
Duck, well you stayed true to your form. My only concern is that your investment thinking is now in the company of Dystra, a person who rants and raves and is quite pathological. Dykstra's past investment festishes included real estate and the stock market (through leverage created by time expiring options), both markets that he had bought into heavily at their peak.
He went bankrupt.
starting off the new year ......
sissy Konu told duckie "Lenny Dykstra, yes - the former baseball star, was featured in a TV commercial pumping gold and silver bullion"
what legitimate company would hire a discraced financial pundit to make any commercial for them?
methinks sissy Konu has started hitting the bottle a wee bit early upon making that insane comment
proves once again that sissy Konu may be going over the deep end
since mad dog alfalfa has quit pouncing on Konu he keeps goading our gold and silver prophet, duckie
the only "crazy phase" going on is the one sissy Konu has embarked upon
QWAK,bohraht,I expect the next 12 to 18 months will totaly ROCK the financial world as the system based on DEBT and GREED crashes BECAUSE debt is well passed the SATURATION POINT globaly and can NOT be PAYED no mater how it is structured or minipulated. :(
I believe that we will see 10 or more years of POVERTY being the NORM for the vast majority of people who BELIEVED the LIES about DEBT not being DANGEROUS!
Long term it will be for the GREATER GOOD but for MOST the TRANSITION will be a living HELL they must some how indure and survive any way they can or manage to IMAGIN.
NEW ways of THINKING and RELATING and a NEW PARADIGN will gradgualy emerge BUT as in all things -- destruction happens quickly and reconstruction only slowly.
THIS is the begining of a DECADE of CHANGE that can not be stoped or put off any longer and LIKE IT or NOT we will all experience changes we do not even want to IMAGIN because they will be so EXTREAM! :(
GOOD LUCK to ALL because we are ALL going to need and do with out --- so much that we NOW, just take for granted and ASSUME will always be there -- but IT won't and THAT will change us all at fundamental levels giving new perspectives and values very diferent from the curent ILUSIONS and DELUSIONS that pass for REALITY now. :(
Corrections may come, but I'm holding. Here's why.
“But suddenly the financial industry is being forced to think long and hard about gold. Surging public debt in many of the world’s largest economies may be about to push the global government-bond market into a period of significant turmoil. If some part of the world’s $30 trillion in sovereign debt could be dumped by the world’s pension funds, insurance companies, banks, and individual investors, then where will that money flow to? Stocks? Real estate? Since pension funds already have high exposure to stocks and other assets like real estate and private equity, it seems reasonable to expect that some fraction of that capital—perhaps as much as $500 billion or more—could eventually flow into a time-tested real asset: gold. Most funds would practically be starting from zero, considering the low percentage of total assets the metal represents today.
The effect of suddenly moving a substantial amount of investment money into precious metals was best described in a telephone conversation I had with an industry expert: he said it would be like shoving an elephant into a mailbox. At $1,300 an ounce, all the gold in the world—all the jewelry, coins, bars, molars, and church art—is worth an estimated $6.5 trillion. But the vast majority of global gold, like the ring on my finger, is not freely traded. In fact, perhaps only 5 percent of all physical gold actually trades each year, which would make the investment gold market around $320 billion. The mining industry produced around 2,500 metric tons of gold in 2009, worth around $80 billion at the average price for the year. A little over half of every year’s gold production is used for jewelry and industry, so less than $40 billion was available to the global investment community. That’s equivalent to about 20 days of trading in shares of Google—a single stock on the American market.”
tptb bad mouth pm's hoping to stop the sheeple from saving themselves
if bernanke isn't stopped we will need to take this shopping with us
QWAK, canucanoe, "But my $40 book is now worth 10-20x what I paid for it." --- good luck finding some one whe will ACTUALY pay you THAT for it! LOL
In any event it is the KNOLAGE not the BOOK that is of the GREAT VALUE and it is worth NOTHING if NOT properly put in to action.
Well, silver sure became volatile - big time volatile.
I'm of the opinion that we have hit an intermediate end game phase for silver. It's a blowoff top - may end soon, maybe in a month. I'm leaning to it eclipsing its all time high, maybe even a strong move towards $60.
Then maybe there's an intermediate top for quite some time. We have an election coming - and the die is cast. Politicians are going to have to promise austerity and feign the attempts for the walk to match the talk. That could be 6 months, but maybe 1-2 years.
How will this affect gold and silver pricing? In the beginning, I'd say its detrimental. But when the lipstick is removed from the pigs... well, that's why I said intermediate top.
QWAK,Canucanoe,Nothing goes straight up with out pull backs for profit taking BUT $60.00 and $100.00 SILVER are baked in the cake :) as long as the FED can create more new DEBT DOLLARS out of thin air! :(
It is not the SILVER or GOLD that changes in VALUE, it is the IMAGINARY DOLLARS that become worth less and less --- that is especialy true for STOCKS and BONDS and ALL paper investments which are several steps removed from the action of creating new FIAT! :(
It aint ROCKET SCIENCE -- actualy quite SIMPLE realy -- when one understands that FIAT DOLLARS aint MONEY, but rather a SUBSTITUTE for REAL MONEY! :)
There you go again, Duck. You just don't know, and care to know, the difference between money, monetary reserves, currency, hard assets, wealth, etc.
When you get caught misusing one term, you slide in another. I bet you were good at selling snake oil.
QWAK,canucanoe,Globaly and especialy in the USA, the Governments and the BANKERS who OWN them ,have been creating TRILLIONS and TRILLIONS of new FIAT curencies out of THIN AIR -- that's a REALITY -- physical GOLD has been the ultimit form of MONEY with SILVER for common use for over 5000+ years!
IF you prefer to TRUST in BANKERS and GOVERNMENTS and DIGITS in COMPUTERS and call that MONEY --- you will believe any FOOL thing --- but I trust that only GOLD is real MONEY and SILVER a close second and will TRAID my DIGITS and FRN NOTES for OUNCES of the REAL STUFF because, I am a DUCK and not a FOOL that TRUSTS the ones who try to ROB and SCAM all who use the CURENCY they produce WITH OUT any WORK or EFFORT!
You have a nice day in your FANTICY LAND! :)