… and who’s going to get hurt.
A trader incautiously tells the truth. It’s an inconvenient truth all the way. But the big wallop comes about 2:30 mins in.
Tip o’ hat to S.
… and who’s going to get hurt.
A trader incautiously tells the truth. It’s an inconvenient truth all the way. But the big wallop comes about 2:30 mins in.
Tip o’ hat to S.
I felt the way I feel now back in the 70s. I was wrong then and I’m hoping that I’m wrong again. Preparedness has been my way of life for decades but I still hope it’s all for naught. We are certainly living in interesting times.
There have been several writing about the great vampire squid and the general reaction has been to dump on them for saying bad things about Goldman. Look at how they are so tied to our government, especially treasury & the fed, IMF, world bank and such. Woody is right about it getting interesting. Goldman was heavily into the events of 2008 and I’d love to be a fly on the wall in their boardroom now.
I don’t think that trader was out of line. To me the question is whether assets like gold would be good or has it gotten more basic where investments should be dry grains, beans & ammo.
Steve
Really nothing new there. Big investment firms are the ones that have the largest effect on trading. As far as protecting assets, nothing is ‘safe’. I think gold and silver are in a bubble and are no better than anything else. They are being driven by speculators, just like any stock in the market. Guns and ammo are a pretty good investment, or other tools that people find useful in hard times. Food is perishable, although alcohol is probably a good long term investment — if it all goes to hell you can drink it, burn it, or sell it!
People who think gold is a bubble are everywhere. Gold is not in a bubble it’s just been a little over bought.
If gold is a bubble, then, according to this chart, a dozen eggs are a bubble too:
http://www.financialsense.com/sites/default/files/users/u626/images/2011/us-nominal-price-change-1980-2010.jpg
Consider too, this chart which shows the miniscule percentage of global financial assets in gold:
http://www.usfunds.com/media/images/investor-alert/-2011-ia/2011-04-01/COMM-GoldPercent-040111.gif
Wouldn’t the percentage be much higher if gold were a bubble, or at least close to that of the 1980’s… Much like pools of mortgages sliced and tranched, or internet IPO’s ala 1990’s style?
If gold were a bubble, we’d be seeing “Gold for Cash” stores everywhere instead of “Cash for Gold” stores.
Marc Faber says, “I Could Make The Case That Gold Is Cheaper Now Than When It Was At 300 Dollars Per Ounce” That doesn’t seem like a bubble.
I think savers have been a big driver in the price of gold, i.e. People who just want A return Of investment. Plus, central banks have been buying,… why do you suppose they’ve been buying?
~ 2 Cents.
Also, this comment just floors me, I cannot understand People with this general viewpoint: “There have been several writing about the great vampire squid and the general reaction has been to dump on them for saying bad things about Goldman. Look at how they are so tied to our government,”
I haven’t met any real People here in flyover country who have this viewpoint (just the opposite) maybe some of those living in Dreamtime have it though, but they’re too busy watching TV and such to express the thought.
The Anglo-Power Elite rule the world, but according to The Daily Bell, they’re not quite as in control as they’d like to be, and maybe things are not going so well for them. Perhaps things are unraveling?
The only real surprise is that this comment was on BBC, which generally spends most of its time shilling for the British government and the EU. I doubt that he’ll be invited back.