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 Replies: 39 / Views: 3,254 |
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Pillar of the Community
United States
4008 Posts |
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It is interesting to look at the USD and the EURO right after Obama's speech, The USD has dropped severely... DesertGem Indeed it is. I've seen the very same effect caused by Bernanke speaking. Almost makes one think that silence really is golden.  |
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Pillar of the Community
United States
830 Posts |
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Currently, I am about 98% in cash Ed, one guest on CNBC "Fast Money" has you beat, Richard Bove just said he's 100% in cash right now. I'll try to post a link when they put one up. It was an interesting interview. http://ori.cnbc.com/id/43917324 Edited by GoThunder
07/27/2011 6:07 pm
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Pillar of the Community
United States
4008 Posts |
I'm not at all surprised, Thunder. There is a HUGE amount of money on the investing sidelines now. I am not alone in this. I can deal with a flaky market but combining that with flaky politics makes for an untenable investment situation.
Yes, I have seen Dick Bove on CNBC many times. I agree with this comments and positions more than 90% of the time. This appears to be yet another one of those times.
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Rest in Peace
 United States
9104 Posts |
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Almost makes one think that silence really is golden. More accurately, it is better to remain silent and be thought a fool, than to open your mouth and remove all doubt. |
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Pillar of the Community
United States
830 Posts |
The link I posted now has the video.
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Pillar of the Community
United States
830 Posts |
I'm a little more worried about deflation with this drop in the price of oil, less than $81/bbl as I type. Not selling PMs though, as Ed mentioned earlier the last time we had deflation, gold and silver were backing the US dollar.
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Pillar of the Community
United States
830 Posts |
I wonder IF there was a period of serious deflation if gold wouldn't hold its own? I mean in times of deflation cash is king but in today's world of currency backed by nothing would not gold be right in there with most any of currency, maybe even king of them all?
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Pillar of the Community
United States
3294 Posts |
As gold is a commodity, it would deflate along with everything else I suspect.
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Pillar of the Community
United States
830 Posts |
So are you saying gold isn't money?  I've watched that video from the original post twice now and it dawned on me the 2nd time through that this guys theory is based on US demographics but he is trying to extrapolate that to global currencies. I would have liked to see some numbers on the global population cycles if he wants to apply it to forecasting global currencies. I can see how he would have success applying the life cycle of the baby boomers to US economics but we are not the world's biggest buyers of gold (for example) that honor goes to India. I really think that is the weak part of his theory, but he will probably sell lots of news letters anyway. Edited by GoThunder
08/11/2011 09:20 am
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Replies: 39 / Views: 3,254 |
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Posted 07/27/2011 6:01 pm
