Gold: Past, Present, and Future

@ Goldman Sachs & Co. & Anthony Evans78
While you both seem reasonably informed on current economic trends, your comments regarding Warren Buffett have cost you significant credibility.
The ultimate failure in decision-making is seeking out only the data that reinforces our existing biases.
I’ve read several books on the man and am just finishing "Snowball," his biography. To label this financial genius an insider trader only proves how little you actually understand him.

Warren Buffett is nothing more than a parasite and a textbook example of crony capitalism. For the last thirty years, he’s just been padding his pockets through ventures that were either subsidized or bailed out by the US government, if not others globally.
Not to mention those massive stock dumps he pulled right before companies went belly up.

wearygull4 said:@ Goldman Sachs & Co. & Anthony Evans78
While you both seem reasonably informed on current economic trends, your comments regarding Warren Buffett have cost you significant credibility.
The ultimate failure in decision-making is seeking out only the data that reinforces our existing biases.
I’ve read several books on the man and am just finishing "Snowball," his biography. To label this financial genius an insider trader only proves how little you actually understand him.

A few facts to consider:
-Consider the sheer volume of literature written about the "successes" of Enron; I would take anything written in those books with extreme skepticism.
-Wealth is not a metric of talent. If it were, Carlos Slim would be the most capable manager on the planet. In reality, he is a standard type of businessman known for using connections to effectively "privatize" Mexican telecom and major banks, leaving phone calls in Mexico among the most expensive in the world.
-Warren Buffett's era coincided perfectly with one of the greatest stock market bull runs and constant tax cuts for the ultra-wealthy. One wonders what Warren Buffett would have done if his career spanned 1920 to 1970 instead...
-No matter how much they try to polish the narrative of individual success, nepotism is rampant in America. Warren Buffett's father was a Congressman, and Bill Gates' mother comes from one of the oldest families in the US, having arrived on the Mayflower. Do you honestly believe Microsoft happened to land the contract for MS-DOS from IBM by pure chance? Or perhaps his mother had a quiet word with old friends from the elite university where most IBM executives were educated?

Of course, one cannot deny that both Warren Buffett and Bill Gates are exceptionally talented, but I am unconvinced that their wealth is proportional to their actual contribution to society as a whole.

Ultimately, Warren Buffett was somewhat correct in his statement; perhaps there was an unnecessary amount of noise surrounding it. My interpretation is that he suggested it is better to own productive assets—like farmland or a manufacturing plant—rather than gold. This is perfectly acceptable in a system that rewards producers. I would prefer such assets in a system that rewards individual labor, but in a system of corporate plutocracy, your farm or factory will simply be destroyed by dumping imports from somewhere like China or Argentina, while individuals like Warren Buffett reap the maximum profit...

wearygull4 said:@ Goldman Sachs & Co. & Anthony Evans78
While you both seem reasonably informed on current economic trends, your comments regarding Warren Buffett have cost you significant credibility.
The ultimate failure in decision-making is seeking out only the data that reinforces our existing biases.
I’ve read several books on the man and am just finishing "Snowball," his biography. To label this financial genius an insider trader only proves how little you actually understand him.

Look, we all have our disappointments—it doesn't matter to me whether someone is an insider or not—but when I read Warren Buffett claiming this is a class war where his class comes out on top (all while asking Obama to tax him more than his own secretary), it’s frankly nauseating. 🧐

Naturally, it makes me think his entire philosophy is just garbage designed to fleece the average person. 😬

Imagine this: the man is dismissive of gold—which has provided incredible returns in the USA over the last 11 years—and instead pushes stocks that leave the common person deep in the red... it's honestly appalling. 🙂

Don't go dragging Warren Buffett's name through the mud. The guy built his empire on family connections and insider info—plain and simple. If history has taught us anything, it's that people playing that game always end up winning. Honestly, he probably knows something about gold that we haven't even dreamed of yet 🤷
Or maybe he's just playing the same game as that guru Bakić 😍

here’s a little something to push back against the narrative
http://www.sovereignman.com/finance/wtf-warren-buffet/

Anthony Evans78 said:Warren Buffett is nothing more than a parasite and a textbook example of crony capitalism. For the last thirty years, he’s just been padding his pockets through ventures that were either subsidized or bailed out by the US government, if not others globally.
Not to mention those massive stock dumps he pulled right before companies went belly up.

Better to jump in five years early than miss out by just one day!😍

In my book, it’s called research, thinking things through, and rationalizing. For him? Well... it’s just insider trading. 🙂

James Turk on where gold and silver are headed in the near future. We'll see how it plays out

http://kingworldnews.com/kingworldne...the_Brink.html

Melissa Sanchez17 said:James Turk on where gold and silver are headed in the near future. We'll see how it plays out

http://kingworldnews.com/kingworldne...the_Brink.html

quote from the link:
That event is highly unlikely given the Federal Reserve’s negative interest rate policy and commitment to do whatever it takes to prevent deflation, including dropping $100 bills from helicopters.
😂

http://kingworldnews.com/kingworldne...Violently.html

And then this just hits the wire:

Iran on Wednesday cut oil exports to six European countries including Netherlands, Spain Italy, France, Greece and Portugal.

http://www.brotherjohnf.com/wp-conte...deuro21512.jpg

interesting enough, I guess...

Paulson was dumping stock in Q4 too.
http://www.reuters.com/article/2012/...81E00520120215

John Paulson is selling—while George Soros is buying (though he did exit at $1,450 previously)..............

Tracking hedge fund purchases and sales of SPY is like relying on a single thermometer to predict the global climate. It could give you a decent reading, but it’s just as likely to miss the broader trend entirely.

Everything John Paulson sold turned out to be a total bust anyway. 🙂

The USD is feeling the squeeze again. If it cracks—and if gold manages to nudge past its 10-day moving average—we could be looking at a quick jump back to 1900. Today's rally in mining stocks definitely hints that this scenario is on the table, but everything still hinges on the USD, the stock market, and how things are playing out over in Europe.

Europeans visiting the Chinese, who sit on massive foreign exchange reserves. Some deal was likely struck to keep this "perpetual motion machine" running. The only question is the cost. The Chinese made a smart move opening up to capital, yet they refused to implement multi-party politics; the state still maintains ownership over the profitable companies. It is a completely different mindset from the European approach, where everything is constantly being sold off.
It is worth noting that the current US Federal Government has issued some "more normal statements," suggesting things like no privatization of ExxonMobil. Had such a policy been in place from the start, we would be positioned much better today. Still, you can't ignore the rating agencies. I honestly don't understand how the US can be stuck at BBB- when its deficit is far more manageable than, say, some other nations. Even if we acknowledge that the USA is the world's largest economy, it certainly cannot have a better outlook than America. In circumstances where a downgrade almost always follows news that appears favorable for the dollar, expecting truly objective ratings is difficult. And inflation? Don't get me started. It is nearing 10%, and under these conditions, the dollar simply cannot maintain its former strength.
On the other hand, gold continues to defy many people's expectations, which suggests we are nowhere near a recovery. There is too much toxic debt and far too much government spending allocated to various groups that could easily be avoided. It is a genuine miracle that this Ponzi scheme still functions given the current consumption-to-production ratio. My view remains: hold gold.
However, if the Chinese decide to fully enter the fray, things could get messy and complicated very quickly.
Again, I truly believe that for a country with such a massive population, multi-party politics isn't advisable; it would lead to the fragmentation of all state assets. Money and power corrupt, but here, it stays under control. As much as it is. Regardless of anything else, no one can deny the Chinese have a much more favorable economic position and growth potential, even with their bubbles. Certainly more so compared to the Western Hemisphere.
Ultimately, all the manipulation is futile if there is no real foundation for growth.
Just like there is no real money.

Technical analysis is basically a joke at this point in a world built on manipulation, theft, and lies.
The dollar, along with every other fiat currency, is a zombie; it’s just a matter of when it finally bites. Precious metals are the only thing with real value—everything else is just an illusion.
Word on the street is that Wall Street is prepping for a "formal" Greek bankruptcy on March 23rd, right after the markets close for the weekend. It's the same old playbook: drop the bombshell on a Friday, let the chaos simmer over the weekend, and watch the madness unfold in the casinos—sorry, the stock exchanges—across the globe on Monday. If we look at what happened in Argentina, Greece is likely headed for bank closures and withdrawal limits. That's the reward you get for trusting corrupt institutions with your money.
Rating agencies are the absolute peak of nepotism and hypocrisy; even thinking about them makes me sick. And let's be honest, the USA isn't even the world's largest economy, unless you count financial sorcery that produces zero actual value as "growth."
Gold can't even go down when the USA, the European Union, the Japanese people, and the UK have all started their printing presses. It might see some corrections, but in this environment, the upward trend is inevitable.

Anthony Evans78 said:Technical analysis is basically a joke at this point in a world built on manipulation, theft, and lies.
The dollar, along with every other fiat currency, is a zombie; it’s just a matter of when it finally bites. Precious metals are the only thing with real value—everything else is just an illusion.
Word on the street is that Wall Street is prepping for a "formal" Greek bankruptcy on March 23rd, right after the markets close for the weekend. It's the same old playbook: drop the bombshell on a Friday, let the chaos simmer over the weekend, and watch the madness unfold in the casinos—sorry, the stock exchanges—across the globe on Monday. If we look at what happened in Argentina, Greece is likely headed for bank closures and withdrawal limits. That's the reward you get for trusting corrupt institutions with your money.
Rating agencies are the absolute peak of nepotism and hypocrisy; even thinking about them makes me sick. And let's be honest, the USA isn't even the world's largest economy, unless you count financial sorcery that produces zero actual value as "growth."
Gold can't even go down when the USA, the European Union, the Japanese people, and the UK have all started their printing presses. It might see some corrections, but in this environment, the upward trend is inevitable.

Oh really? What about the banks in the European Union? They prepping for that too? ☕

Robert Vaughn10 said:Europeans visiting the Chinese, who sit on massive foreign exchange reserves. Some deal was likely struck to keep this "perpetual motion machine" running. The only question is the cost. The Chinese made a smart move opening up to capital, yet they refused to implement multi-party politics; the state still maintains ownership over the profitable companies. It is a completely different mindset from the European approach, where everything is constantly being sold off.
It is worth noting that the current US Federal Government has issued some "more normal statements," suggesting things like no privatization of ExxonMobil. Had such a policy been in place from the start, we would be positioned much better today. Still, you can't ignore the rating agencies. I honestly don't understand how the US can be stuck at BBB- when its deficit is far more manageable than, say, some other nations. Even if we acknowledge that the USA is the world's largest economy, it certainly cannot have a better outlook than America. In circumstances where a downgrade almost always follows news that appears favorable for the dollar, expecting truly objective ratings is difficult. And inflation? Don't get me started. It is nearing 10%, and under these conditions, the dollar simply cannot maintain its former strength.
On the other hand, gold continues to defy many people's expectations, which suggests we are nowhere near a recovery. There is too much toxic debt and far too much government spending allocated to various groups that could easily be avoided. It is a genuine miracle that this Ponzi scheme still functions given the current consumption-to-production ratio. My view remains: hold gold.
However, if the Chinese decide to fully enter the fray, things could get messy and complicated very quickly.
Again, I truly believe that for a country with such a massive population, multi-party politics isn't advisable; it would lead to the fragmentation of all state assets. Money and power corrupt, but here, it stays under control. As much as it is. Regardless of anything else, no one can deny the Chinese have a much more favorable economic position and growth potential, even with their bubbles. Certainly more so compared to the Western Hemisphere.
Ultimately, all the manipulation is futile if there is no real foundation for growth.
Just like there is no real money.

My take? I don't think they slashed our rating because they actually want us to take on even more debt. Rather, by keeping the rating from dropping further, they’re essentially gaslighting the fools in Washington—convincing them they're doing something right while they actually just pile on more debt and pave the way for a cheap fire sale down the road. If we end up with debt levels similar to what Greece faced, we won't be able to pay it back, and the whole country will go belly up.