Thread: Marc Faber Says World Heading for 'Major Inflection Point'

socal does have a point though,

to control inflation with such low interest rates, it would make sense that "excess" reserves are diverted into the parking of "Gold" investment and higher Oil prices. The high oil prices becomes a substitute of higher interest rates without the negative impact that is general with higher interest rates. With QE, Oil acts as an exchange rate and so does Gold. Eventually, those "exchange rates" will reverse.

Originally Posted by 9999

Originally Posted by socal

Originally Posted by 9999

Originally Posted by socal

Originally Posted by 9999

sweet, the missus just hocked a bracelet I gave her 2 years ago to buy a phone. think it made about 15%, but who knows how much the shifty chinese gold merchants scraped.

that was sure dumb.

what if she did that 2 years ago ?

Why is it dumb? are you supposed to hoard your gold forever?

no but the way you presented your story was a cheap-shot to anyone that is long gold.

Oh right, coz you must be sooo long on gold eh. I bet the average bar girl is longer on gold than you mate. You sound like you're still hashing out the basics in 2nd year economics. So does BF but then again he always has sounded like that.

I don't know what gave you the idea that I am poor. I own almost 2 pounds of gold now and that is not my biggest position.

You don't even know that this is macroeconomics, thats shows how much you know...

Originally Posted by robuzo

Originally Posted by socal

Originally Posted by SiLeakHunt

The sooner gold crashes the better from my point of view !

There is no possible mathematical way that gold can crash in the next 10 years.

I don't know about that, but until the Chinese, Indians and other Asians give up their love affair with gold- essentially, a portable store of value that is liquid everywhere- dips in gold will probably find a floor pretty quickly.

Nobody has a love affair with gold right now, historically.

Originally Posted by Butterfly

actually statistically, Gold is due a big correction anytime soon

I'll let you guys know when I buy some because the next day is when it'll correct or deflect or whatever..

Socal what do you do with your gold, to keep it safe?

Originally Posted by Ripley

Originally Posted by Butterfly

actually statistically, Gold is due a big correction anytime soon

I'll let you guys know when I buy some because the next day is when it'll correct or deflect or whatever..

Socal what do you do with your gold, to keep it safe?

I have a Bank of Novascotia safety deposit box. Its only $35 a year.

Sort term gyrations in the price don't matter but you can try this.

Buy on COMEX futures options expiry dates. They are usually the 26 or 27 of the month. The next options expiry date is tomorrow actually, Oct.27. 10

Nobody is sure if JP Morgan is still using those days but it has been working. Gold has been down or calm on these days.

Looks like JP Morgan is going to slam the metals tomorrow, like usual. Thats what futures are indicating.

Down $14. Thats not allot percentage wise but is allot for this time of year. If I needed some gold, I would buy today.

I know i am repeating myself but if you wish to buy gold, stick to physical gold, preferably coins. Easy to buy easy to sell (instantly). Look at www.kitco.com and at any time you can see the value of your holdings. Coins fetch 6% over spot.You can purchase in small amounts and i hold no more than 20% of personal savings,investments in gold. Silver has done very well, better than i expected. Its cheaper to get into, but bulky. Silver also has many industrial uses and as economies improve the demand should grow, could be a winner either way.

gold coins are nice, but a bit overpriced these days

when Gold is back to 300 USD, they will be a nice long term investment

Originally Posted by Butterfly

gold coins are nice, but a bit overpriced these days

when Gold is back to 300 USD, they will be a nice long term investment

The people that thought the same as you in the 70s are still waiting to pick some up at $100 an oz.

Join the club.

Squabble away, fact is nobody on this board will be basing their gold position on what buttfrier says. The doom merchants have been around for millenia, and never fail to remind the naive in their audience that the routine dip the market is experiencing is actually the 'collapse' they've been predicting.

So buttfrier, let's shove the crap and play hardball...considering gold has been creating new highs only to break them while you've been predicting gloom, how far do you suppose it needs to fall and by when before you can legitimately claim to have a clue? You've been nothing but wrong so far, so take consolation that the law of averages is leaning heavily in your favour.

^ nice, another gullible gold investor

as usual, you haven't read carefully what I said, but what else is new

I am just saying that Gold will be for a correction as soon as key interest rates are up again, and that the number of suckers in this world being fools and buying Gold, because TV or a friend said so, is endless. So yes I don't disagree that it can reach 2,000 USD as socal predicted.

when and what day will it crash exactly ? that's impossible to say and you know it,

remember oil at 200 USD and how it will never end going up ?

some of the fools like socal thought the same, but it eventually fall back to 35 USD

it's still artificially overpriced today, it will eventually revert back to the long term average of 35 USD

Originally Posted by Butterfly

^ nice, another gullible gold investor

Gullible I may be, and it was an unintended consequence when I was introduced to buying Krugerrands at around £50-£60 apiece with a £1.50-£2 spread from Sphinx in St James' during the late 70s when they were an otc commodity. I still own them. With other smaller purchases since, and a significant topup about 8-9 years ago shortly after coming to LoS, my bottom line would still go red if gold collapses to global economic ruin levels overnight, but as would everything else. So thanks for your concern but save it for the minions that follow you around.

I am just saying that Gold will be for a correction as soon as key interest rates are up again, and that the number of suckers in this world being fools and buying Gold, because TV or a friend said so, is endless. So yes I don't disagree that it can reach 2,000 USD as socal predicted...

Sure gold will experience a correction, but there's no science in that; corrections occur daily around the world in every market, even though some unscrupulous people bandy the term to frighten the uninformed, or as you call them, suckers.

As for those 'suckers' that have bought in, the only relevant numbers are at buy and sell, with everything between being no more than glitzy noise. So even if any of those 'suckers' happen to buy at the most improbable point - just before a significant correction - tough shit and they'll see a bit of red for longer, but they will still go solid green long before whatever is stored under the mattresses of their more 'informed' rivals if you had anything to do with their education. Therefore it doesn't matter if your smartly 'predicted' correction occurs tomorrow or next month if traders are not selling during that correction or investors are looking long term. Note also that corrections do not have to be mind numbing, and can occur without so much as a raised eyebrow.

Simple truth: the world has never been so uncertain, and gold is the counterweight to uncertainty.

when and what day will it crash exactly ? that's impossible to say and you know it,

Sorry try. I did not ask you for a specific date or time or even a price to within 10c. Great way to duck though, and much as expected, though I'm sure nobody was less impressed than me.

Unless it's really outrageous, you can have the last word since it normally belongs to you anyway.

[quote=Butterfly;1590202]

remember oil at 200 USD and how it will never end going up ?

Here you go, comparing gold to a consumed commodity again.

some of the fools like socal thought the same, but it eventually fall back to 35 USD

I don't have 5 cents invested in oil. Now though, as of today, I like oil simply because there is morons like you out there that will use oil as an inflation hedge because they don't understand gold. This guy learned that the hard way and I even made a youtube video about it.

it's still artificially overpriced today, it will eventually revert back to the long term average of 35 USD

How long did the price stay under $60 ? A few months ?

The only reason it is overpriced is because the fed is printing too much money. Investors are using it as an inflation hedge and there is no laws against that.

[quote=keda;1590247][quote=Butterfly;1590201]^ nice, another gullible gold investor

my bottom line would still go red if gold collapses to global economic ruin levels overnight, but as would everything else. So thanks for your concern but save it for the minions that follow you around.

Keda.

Gold is only priced in dollars. If the economy collapses to economic ruin, your gold will not go down, the dollar will. Remember when Europe was going bust this summer ? The Euro went down, not up.

Just because investors ran toward the blast in 2008 and bought the dollar, doesn't mean they will do it again. The dollar run in 2008 was a head fake, it started no long term trends.

If people like Butterfly think that the fiat currency of a imploding economy will always rise then they must not have been paying attention to the Euro this summer. The Euro went from 1.50 to 1.19 when Greece was going broke, using Butterflys logic, the Euro should have went up to 1.65 when Greece was going broke.

Originally Posted by keda

Sorry try. I did not ask you for a specific date or time or even a price to within 10c. Great way to duck though, and much as expected, though I'm sure nobody was less impressed than me.

if you can't put a date on a prediction, then why ask me or accuse me of making false predictions ?

The only thing I know is that suckers will be fucked as usual, that's facts, it's a constant, and the next asset with that kind of bubble is currently Gold. It's not really Science, more like common sense, something you seem to be missing in ample terms.

What comes up fast, must come down equally fast, law of gravity

Originally Posted by Butterfly

Originally Posted by keda

Sorry try. I did not ask you for a specific date or time or even a price to within 10c. Great way to duck though, and much as expected, though I'm sure nobody was less impressed than me.

if you can't put a date on a prediction, then why ask me or accuse me of making false predictions ?

The only thing I know is that suckers will be fucked as usual, that's facts, it's a constant, and the next asset with that kind of bubble is currently Gold. It's not really Science, more like common sense, something you seem to be missing in ample terms.

What comes up fast, must come down equally fast, law of gravity

I asked you about 3 months ago, where would you invest $100,000 right now ?

where where where ???

^ I told you before, hedge funds, that's where the real value is, not commodities hedge funds though

Originally Posted by Butterfly

^ I told you before, hedge funds, that's where the real value is, not commodities hedge funds though

what hedge fund ?

a hedge fund is just a pool of money run by an investor. Lets say we both have $100,000 hedge funds. Where would you invest ?

So not commodities you say...and I know not gold. That leaves stocks, cash or bonds. You would be fully invested in bonds and cash equivalents.

Originally Posted by socal

a hedge fund is just a pool of money run by an investor.

Seems a lot of people haven't learnt much since February 1637. Tulip mania - Wikipedia, the free encyclopedia

Originally Posted by socal

Gold is only priced in dollars. If the economy collapses to economic ruin, your gold will not go down, the dollar will.

So doesn't this mean gold really isn't rising?

Do you think the currency could change, to EU for example?

Are we headed for a global currency?

Originally Posted by TizMe

Seems a lot of people haven't learnt much since February 1637. Tulip mania - Wikipedia, the free encyclopedia

nope, haven't they ? that's why fools like socal are useful, they are the thermometers of investment wisdom