Comments on: Gold: Getting Fuzzy?

By: Maverick1

Maverick1 — Fri, 20 Nov 2009 17:57:58 +0000

Ford unveils a car that we all can afford, via The Onion:

http://www.theonion.com/content/video/ford_unveils_new_car_for_cash?utm_source=videoembed

By: danm

danm — Fri, 20 Nov 2009 16:58:11 +0000

Simply, I don’t think the meme of gold investment is widespread enough through American investing psyche to call a psychological top (particularly when you factor in the current monetary policy.)
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If a financial collapse is on its way, I don’t thing your average Joe will be buying gold. He’ll be selling.

In such a case, I think your peak gold price would be when your average Joe would be selling his kids.

By: danm

danm — Fri, 20 Nov 2009 16:52:23 +0000

and life moved on.
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Apparently, someone is not living there.

By: TDL

TDL — Fri, 20 Nov 2009 16:52:05 +0000

Since I no longer watch CNBC (watched it the first time in almost two years last week b/c they had a hour long special on the UFC) and rarely watch Bloomberg, I do recall that they always had “invest in gold” commercials. Certainly, Monex has been advertising on CNBC since the late ’90′s. I have also seen the occasional “invest in gold” commercials on basic cable (and not just in the past couple years.) I don’t think the mere fact that these commercials are on tv is indicative of a top of any sort. If you start seeing these commercials regularly on the major networks, or Parade, or Time, or USA Today, etc. then I think there is an argument to be made.

Brendan,

I don’t how familiar you are with “far-right” & “far-left” media/publications, but gold has always been seen as a store of value for these groups b/c the global order is always collapsing in their eschatology. Part of the “far-right” are made up of gold bugs and one only has to remember the rash of post-apocalyptic movies from the ’80′s & early ’90′s that was generated by members of the “far-left”.

Simply, I don’t think the meme of gold investment is widespread enough through American investing psyche to call a psychological top (particularly when you factor in the current monetary policy.)

Regards,
TDL

P.S. Since I mentioned the UFC, what do you guys think a good match up would be for CNBC cast?

By: Brendan

Brendan — Fri, 20 Nov 2009 15:57:05 +0000

@Bam_Man: Listen to lefty and/or righty radio (yes, I like to listen to both to get a balance perceptive of the crazy). There have been ads trying to SELL (“invest in”) gold to the paranoid extremists on either end of the spectrum for quite a while now (since before the economy was tanking). When both Rush Limbaugh and Randi Rhodes are trying to sell me the same thing, that’s a sure sign that something is wrong! These ads have been slowly creeping into more “neutral” outlets, especially since the recession hit.

@Pat G.: Iceland – it already happened. People hoping for financial Armageddon like to forget that Iceland already blew up, and life moved on.

By: some_guy_in_a_cube

some_guy_in_a_cube — Fri, 20 Nov 2009 14:21:54 +0000

The dollar has been devalued 20% since March. Gold’s response up to now has been relatively muted.

By: danm

danm — Fri, 20 Nov 2009 13:40:37 +0000

I wouldn’t touch that GOLD ETF (based on paper or delivery) thing after reading about counterfeit gold bars
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I didn’t touch it after reading the prospectus… Criteria number 1: I don’t touch a fund unless it has limited liability.

Too much fraud out there.
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Can’t remember if it was that fund in particular but I took a look at many commodity funds and I didn’t get the warm and fuzzy feeling.

By: danm

danm — Fri, 20 Nov 2009 13:34:24 +0000

Too much fraud out there.

By: TakBak04

TakBak04 — Fri, 20 Nov 2009 03:47:41 +0000

@drewburn Says:
November 19th, 2009 at 9:33 am

I was in a jewelry store yesterday when a well-dressed woman, who did not appear to need money, asked if the store bought gold. They eagerly replied that they did. Joe and Jane aren’t buying gold; they are definitely sellers. (Even Joe and Jane Chardonnay.)

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A jewelry store our family has used for years…great couple who repair and reset stones into different settings along with selling jewelry has notified us they are retiring. They said that with the price increase in gold and the economy in downturn they just couldn’t keep up the business any longer. They were mid-fifties and very fit…so I assume it was more that it was a true “forced” retirement due to the economy and price of gold and even silver going up.

I will miss this small business. You could take things to them and they were reasonable with repairs. Also did watch battery replacement for almost nothing while you waited. Nice folks…small business..gone.

I don’t know where one would go for repairs. Sort of like trying to find shoe repair people. Just throw the shoes out or sell the jewelry at a “Gold Buying Wine Fest.” Or, sell Grandma’s silver and Grandpa’s pocket watch to some Conglomerate “WE BUY YOUR JUNK GOLD JEWELRY” outfit, who comes to your local mall. I love the local neighborhood “Wine and Cheese Gal’s Night Out”….. “Junk your Ex-Hubbies & Old Boyfriend’s Gifts Night” in our local neighborhoods where I live and that have been going on for the last two years all over the country. Saw it advertised on vacation when I was in FlA in ’07 and it’s spread to where I live and even up into NY and CT where I have friends who’ve gone to them and gotten rid of what was sitting in their jewelry case, drawer or chest that they just didn’t wear or use anymore.

Interesting times as to what has value and what doesn’t, these days.

By: investorinpa

investorinpa — Fri, 20 Nov 2009 03:37:40 +0000

Good news for all of you who have Citibank credit cards and got your interest rate jacked to 29%…Citibank is willing to lower it for you….IF and ONLY IF you agree to spend 750 dollars EVERY MONTH on your citi credit card…

http://contraryriches.blogspot.com/2009/11/want-lower-credit-card-rates-spend-750.html