Giving Up on Gold

Townhall.com ^ | May 22, 2013 | Mike Shedlock

[CodeToad]

People chase bubbles. They always have; they are stupid that way. They buy on the uptick and sell on the downtick. The smart money buys on the low then sells on the high. Never buy what other people are buying, that’s just stupid.

Gold going down while the bubble of fiat currency inflates? Buy gold! Buy Cheap, stack it deep!

[TBP]

Fine. Sell it to me.

[SVTCobra03]

Blockbuster in Gold as JP Morgan Likely Acquired 10 M oz of Gold Liquidated by GLD

http://silverdoctors.com/ted-butler-blockbuster-in-gold-as-jp-morgan-likely-acquired-10-m-oz-of-gold-liquidated-by-gld/#more-26968

[SVTCobra03]

America’s Bubble Economy Is Going To Become An Economic Black Hole

http://silverdoctors.com/americas-bubble-economy-is-going-to-become-an-economic-black-hole/

[CodeToad]

No kidding. People have no idea how much of this “economy” is propped up through credit and debt. Even Fortune 100 corporations are living on credit much of the time.

There are $20 trillion in real dollar holdings by companies big and small but that’s barely a year and nothing if there is massive inflation.

[Osage Orange]

Ah....I apparently missed the sarcasm.

Not the first time...

[Wingy]

Just shakin’ out the suckers. So sell your PM’s to me.

[BfloGuy]

People who “invest” in gold rather than holding it as an inflation hedge are just trying to follow bubbles. Gold isn’t an investment. It’s money.

[Georgia Girl 2]

ETF is paper gold not real physical gold. Go online and try to buy gold. The premium is insane. Same deal with silver. 30% premium on silver.

[M-cubed]

Physical still commands a pretty good premium over spot.<<<

Wanna get rich?...lol..deal in the premiums...and save your gold!...if gold goes to $600 it will match the premium....The fed cant fix the free side of a trade

[M-cubed]

lol...I wont tell if you don't!

[M-cubed]

Gold isn't’t an investment. It’s money.<<

it is..but I only buy it for insurance...Whats nice though...once it's paid for....my policy lasts generations...

[jiggyboy]

Nah that wasn’t your fault. My post wasn’t subtle sarcasm; it was more like a wink and a nod, detectable only to those who’ve been on certain threads over the years who know whom I was talking about.

[jiggyboy]

private msg on its way to you.

[Smokin' Joe]

Nice price if you can swing 20 oz at a time, most I know are buying by the ounce when they can afford it, or buying silver at 5-10 oz at a time. At that level, the premiums are alive and well. Thanks for that link.

[Atlas Sneezed]

All true, but those premiums for the small buyer have always been there, and are not about a shortage of physical metal as asserted in the post I was addressing.

[Osage Orange]

Fair enough........

[BfloGuy]

it is..but I only buy it for insurance...

That's the right strategy. Money should be insurance. We ought to be able to depend on its purchasing power instead of having to constantly worry about its declining value.

[Sirius Lee]

If everybody traded in their ETF for physical tomorrow just for ha has what would real price be? I’d guess 20K an ounce.

[Toddsterpatriot]

Since the ETFs hold physical gold, why would the price change at all?