Posts by dustyheron5

Wall Street Journal Gold guru Doubles up on his Gold Position

Published Nov. 19, 2012 on Forbes.com

Forbes.com IT was a surprise to suddenly hear from George Soros that He Had decided to go Back in and replace The 50% of his holdings he sold some two years ago. I found myself wondering about the motivation behind such a move—because All i see is deflation and austerity, specifically the aggressive reduction in government spending across the United States, the US, the United States and elsewhere.

Then my gold guru reached out via email with this insight: "A deflationary world will force central banks to print money. Eventually, it catches up to everyone. Once money velocity accelerates, gold will prove its worth." In plain terms—he believes the dollar is headed for a slide, a total collapse, or some other catastrophic cocktail resulting from relentless overprinting.

lonehawk5 said:🤣🤣🤣
What a garbage prediction. Seriously, why even troll like this?

Perhaps you’re misinterpreting that leading digit just like he is 😂

Just look at the tools the mainstream media uses to manipulate us...

http://www.fgmr.com/falling-gold-dem...medium=twitter

quiettrucker12 said:I wasn't talking about buying; I meant whether you sold off what you picked up last Monday or Tuesday. Not sure why you're bringing up buying... it's like I'm speaking gibberish here. A completely different topic is whether you were adding to your position in the middle of the week.

Fair enough... though I already mentioned I'm no day trader—at least not here in the US.😍

My sweet spot is more along the lines of speculating over a three-month window (give or take a month).😁

quiettrucker12 said:I was actually talking about a total panic sell-off by those bottom-feeders in Chicago.

I don't waste energy worrying about how others act—that was a lifetime ago, back when I was chasing buffalo on the plains.😁

I stopped buying back what I’ve already sold for a profit—unless the price drops significantly past my exit point.

quiettrucker12 said:The Fed is playing chicken with gold again. According to Fox Business, the Federal Reserve is looking to ramp up its gold holdings, potentially adding billions more to its stash. It’s a classic move—when things get shaky, they grab the shiny stuff. It feels like we've seen this movie before. Every time there's talk about Quantitative Easing, the central bank starts eyeing precious metals like it’s a safety net. They're basically hedging against their own decisions. It’s pretty dry, honestly, but it shows just how much they're bracing for impact. Just another day in the world of high-stakes central banking.

They played games, but they weren't playing with gold—they were playing with the miners. What we actually saw in the gold markets was just the final leg of the USD rally, mixed with a tiny bit of fallout from that massive crash in mining stocks.

My take? Gold held its ground. I’m pretty sure we hit rock bottom at $5.00 back on the 1673 mark. I'm feeling fairly certain the stock market found its footing this past Friday, dragging the miners up along with it (especially given that extra help we talked about earlier).

Well, looks like the big money played us. They successfully wiped out the miners on Thursday, leaving all those retail players who jumped in on the news of Quantitative Easing holding the bag.

If my gut feeling on gold is right, we’re looking at a break past $1,750 next week.

dustyheron5, I hope you didn't sell off your SLW.

I bought back part of what I sold recently... if it dips further, I might pick up the rest.😍

A crash in what... shorts or longs? 😁

A quick look at how Quantitative Easing 3 has impacted gold prices so far...

http://2.bp.blogspot.com/-5VqRBhYb2_...ance+Sheet.JPG

vividgull10 said:Finally, someone with some actual perspective. 🙂 👍

Sure🤣.....he’s about as neutral as Donald Trump after the election results come in......😂

Patrick Moore3 said:Look, I'm not an idiot. Don't throw those cheap five-year stats at me... save that for someone else. I'm not talking about a five-year window here. Around mid-September last year, I was actually bullish on gold myself... but based on certain indicators, back when gold was still sitting at 18xx, I was the first one brave enough to post here on September 15th saying gold was in a bubble and wouldn't last much longer...
While everyone else was celebrating Quantitative Easing 3 and predicting gold would hit astronomical levels, I told them straight up: "Enjoy your few days of celebration, because we're going right back to how things were."
Now, people will probably claim it was all predictable, even though I'm being called "full of nonsense" by some...

Sorry if my analysis looks silly to you—I find it quite solid.😂

As for how long you've been posting here, frankly, I couldn't care less whether you started in the Stone Age or yesterday; I focus on the content, not the format.😉

Regarding the excitement over QE3—of course I'm celebrating it, because it's one of the measures keeping everything from crashing into an MP3 player... or rather, preventing an immediate total collapse.😁

By the way, I don't recall saying you write nonsense.🤣..that isn't my style. In this market, you are either right or you are wrong—if I spent my time telling people they were being stupid, I wouldn't have a career; I'd just be someone sending angry letters to the people who send me newsletters.😂

Patrick Moore3

Patrick Moore3 said:those used to be actual drivers... nowadays metals just dance along with the rest of Wall Street... 😢
and don't get too hung up on the debt ceiling either... Congress will probably bump that limit to 18 or 19 trillion US Dollars and we'll just keep riding the same old wave for another year or two😉

You’re right—metals tend to dance in lockstep with everything else, and they have for decades. At the end of the day, it always comes down to one thing: timing. Knowing exactly when to get in and when to get out is everything. 😉

If you look at the last five years—it’s pretty clear—metals have been performing significantly better.😍 Look, if you want to talk about the stock market—and I mean actually talk about it, rather than just tossing around empty rhetoric—you need to look at the data. Here is a quick chart to get us started. Take a look. 😂

http://static.alsosprachanalyst.com/...age_thumb1.png

Keep in mind—that comparison dates all the way back to August 9, 2012. Since then, both gold and silver have continued their upward climb—gold moving from $1,620 to $1,730, while silver climbed from $28.13 to $32.57.

Regarding the debt ceiling—I think you’re missing the mark here. Once they actually raise it... well, just like you mentioned... that becomes yet another catalyst for metal prices to climb. That is exactly the point.

Patrick Moore3 said:What's that saying? "Hope springs eternal"? 😉
DXY shot past 81, and looks like Ben Shapiro totally played us with QE3:
http://www.federalreserve.gov/moneta...centtrends.htm :klap:

It’s hard for him to screw me over when I’m sitting on my dollar reserves......😉

plus, I’ve locked in enough gains this year......😍

Anyway, now that the presidential election is behind us, we can finally focus on the fiscal cliff, spending cuts, and the debt ceiling😍......there’s always a reason for metals to rally....

Great breakdown, colleague—really solid overview of the current situation. I’m hoping things play out exactly like this, as I find myself in total agreement with your assessment.
I pulled the trigger today and bought ERF at $13.01, just like I mentioned yesterday... so, it's done.
Now, I'll just grab some popcorn and keep a close eye on things.

quiettrucker12 said:So, did you pull the trigger on everything you planned to buy?

I did—finished most of it earlier this week.😉
I might still grab a few more shares in energy—specifically something in the oil and gas sector.

$1,450 for an ounce... we’re only $20 away from ATH...😉

If you judge things by the current gold price—sitting at $1,710.00—and the movement of the American stock indices... deception is winning.😉

Melissa Sanchez17 said:http://www.kitco.com/reports/KitcoNe...smallwood.html

😍

I’ve been looking at this—stock prices are seeing a slight dip despite poor results. They actually produced 7.7 million ounces of silver but only sold 5.5 million. 😂

It’s either stuck in the smelters—or they did this on purpose 😉 because they're betting on a spike in the silver spot price. (I'll be interested to see if that actually plays out.)

quiettrucker12 said:Theoretically, anything can happen. But it's funny how this crowd always shows up whenever a major bottom is forming, constantly talking about "possibilities" that favor a sell-off. To me, that’s a massive signal that the bottom is right around the corner. All systems go. So far, nobody here is actually claiming the gold bull run is dead or that we're heading back to $1500.

If you ask me, the correction wrapped up back in December 2011. After that, we sat through a long consolidation phase where it wasn't even clear if the May bottom would hold above $1523 (it hit $1526 in May). That sideways movement could have dragged on forever, but then Ben stepped in with Quantitative Easing. Now, the next big wave is finally kicking off—it started around May 16, 2012, and it's starting to pick up steam.

Spot on—you've hit the nail on the head. The true bottom only arrives once the respected voices in this community start posting about the end of the bull market in the metals sector.😂

Personally, my issue isn't even the price correction itself—it's the fact that Silver Wheaton refuses to adjust below the price I sold at... which is frankly quite dishonest on their part.🙂

Andrew Barrett4 said:It feels to me like people aren't even considering that specific scenario.

A few weeks back, I was getting some strange looks at the local real estate office because I expressed interest in buying up any vacant lot sitting right next to my existing properties. It’s just how I look at things. I also find myself surprised when, like today, I see people putting their faith in completely imaginary concepts—things like Linic bonds or some idealized version of a pension plan.

Then again, lately, I keep running into individuals who are essentially prepping—not necessarily "doomers," mind you, but more just people trying to stay ready for whatever comes next—though they probably don't even realize there's a name for what they're doing.

I highly doubt folks on the East Coast are feeling particularly confident about the approaching hurricane... especially if their entire survival plan relies on some AA batteries and a single gallon of water. 🤣

Much like those 53 million Brazilians...
http://www.reuters.com/article/2012/...89P0QW20121026

Andrew Barrett4 said:How would this whole scenario actually play out for your average American guy on the street?

Would we be looking at that breaking point where hunger sets in and people just start seizing whatever (empty) land they can get their hands on?

We are heading toward a Greek tragedy—with Richards or without him...