Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I have a history of liking gold stocks and doing well with them..
That wasn't the question.
Again, I've always been curious about how the doomsday types invest for retirement and handle finances. Are your savings in gold? Stocks? Cash in the mattress?
I'm about 65/35 stocks/bonds right now.
Quote:
Originally Posted by Dr. Kevin
Gold is Money. Go to Syria or any other war affected country and you can get anything by paying in Gold, food, guns, ammo. You can get to Western Europe (Germany) safe and sound by paying those smugglers to get you there in Gold.
Something having value isn't the same as it being money. I could give a smuggler a truckload of iPhones and they'd take me to Germany or give me guns too, that doesn't mean an iPhone is money.
Again, I've always been curious about how the doomsday types invest for retirement and handle finances. Are your savings in gold? Stocks? Cash in the mattress?
I'm about 65/35 stocks/bonds right now.
So, you label me as a "doomsday type" just because I see what you don't see. You assume that any criticism of our FED policies means I'm a "doomsday type". Ridicule is the defense mechanism of an intellect approaching the Darkness and getting nervous. We are all here to discuss different ideas, present different views. In a discussion of ideas, the man who resorts to ridicule has already lost.
My view is that the BEAR MARKET began 'in 2001, and without the FED offloading trillions from the future back to us to hold asset prices afloat, we would be badly mired in long deflation season -- kind of where we are now, but still protecting trillions in debt, which we have protected with money from unborn Americans. We have more debt today that we did in 2008, when the economy crashed. We are supposed to be getting rid of debt, not adding more debt.
Americans have been living with cycles of inflation and deflation for several hundred years, without the FED stealing money from the future to try to 'cushion the blow' of the Bust Cycle. If you get rid of the Bust Cycle you also get rid of the Boom Cycle (the Big Bang). Is this what you and you alike want? FED involvement has cushioned the blow of the Bust Cycle to the point of turning America into a Nursing Home, protecting debt, protecting corporations against the onslaught of failure, protecting those who used bad judgment and loaded up on debt at the direction of the government and Wall Street. Yes we can keep everyone from failing for a while longer, by stealing more money from the future. We can even try NIRP, which will be more stealing from the future to protect the Speculator Class (thieves mostly).
Is the job of the FED to 'extend' the business cycle indefinitely, protecting the world from change, or is it to lead business into growth cycles and then through and again out of deflation cycles. The FED is a coward!!!!!
I'm a dollar bull. The strong Dollar will rip the bones from the back of the Global Debt Bubble; this is the only thing that will save us....from you know what. NIRP sandwich -- "and we're all going to have to take a big bite!"
Long US Dollar, short commodities, short gold, short oil, short China, short US real estate. I follow 700 different stocks and ETF's.
I still haven't covered my short in United States Steel Corporation (X). I told you about this when you asked me last time.
Warren Buffett did a calculation on this back when gold was around $2,000 an ounce.
He said that, if you took all of the gold that was mined in the history of the world, it would be enough to fill the infield of a major league baseball stadium and it would have a value of X (I forget the number).
If you took that same number (in dollars), you could buy 100% of the farmland in the US, with annual output of $200 billion, and at least 18 Exxon Mobils, with annual net profits totaling about $620 billion, with $1 trillion left over.
What would you rather own? A pile of gold or 18 highly profitable corporations plus all of the farmland, and annual output, in the US? Gold's only value is what man places on it. Companies producing profits, products and services and farmland producing food are far more valuable than the artificial value placed on virtually useless metal.
Nope. The best thing to have in my neck of the woods is an off-grid water source, which I don't have, so I'm pretty much screwed if it all goes to hell.
So, you label me as a "doomsday type" just because I see what you don't see.
I see what you don't see, you see what I don't see, welcome to the wonderful world of individual opinions!
Quote:
Originally Posted by Dr. Kevin
You assume that any criticism of our FED policies means I'm a "doomsday type".
Of course not. I'm also critical of some of their policies, including holding off on a rate increase for far too long.
I label you a doomsday type because of the melodramatic rhetoric you spew about us being in a state of catastrophe, impending collapse of the global economy, fed leading us to the slaughterhouse, etc.
I see what you don't see, you see what I don't see, welcome to the wonderful world of individual opinions!
Of course not. I'm also critical of some of their policies, including holding off on a rate increase for far too long.
I label you a doomsday type because of the melodramatic rhetoric you spew about us being in a state of catastrophe, impending collapse of the global economy, fed leading us to the slaughterhouse, etc.
Positive thinking alone won't help this time. There is no painless solution for our situtation. Keeping rates @ zero since 2009 risks not just bubbles and market distortions, but even worse, it leaves no breathing room for the next downturn which may be as bad or worse than the downturn you got out of by enacting such distorting policies.
The worst fact is that the market is now acting on managed economy speak rather than looking at market signaling because the FED has so perverted our economy people have little left to go on.
A communist couldn't have done better destroying the capitalist system from within. So far, no modern country has escaped the QE trap. We will undoubtedly have a hard time doing so too. The safest bet is that we don't escape QE and feel extreme pain trying to escape.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
