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If you take the number of U.S. Dollars in circulation (M1) and calculate the number of dollars for each oz of gold backing it, I believe you'll get a number like $4763 dollars per oz. This assumes the 9,000 tons of gold the Fed is supposed to have are actually in their possession, and not...

The US dollar would be way overpriced at $2000/oz gold

Stopped out for a small loss this am. You are still wrong about your $600 call

Where is your stop loss at? I'd be buying again anything sub $870. No point holding US dollars long term, IMO. There were NO advisors recommending to be long gold that I know as of this morning. I'd bet that changes overnight, though.

Bought today just after the Fed cut. I don't pretend to know where exactly it goes by what date, but I sure as hell gon't see it going below $850 again, anymore after today. They shouldn't have cut, IMO.

Still think he's way wrong, and the wrong way to boot. Debt will have hit $10 trillion by then by Apr 09. Its the big round number problem that redefines the meaning of big. Just a matter of time.

IMO, now that March lows have been broken, Dec lows around $850 are now in play.

IMO, in the next year, you will learn just how valuable your digital confetti is NOT. The only way it can hold its value is if they stop printing more of it, and that's not going to happen because they don't want a depression on their hands. The alternative is inflation, be is admitted or...

What is different is that unlike your digital confetti money, it takes a lot of cost and effort to dilute the supply of gold. EVERY paper currency ever tried in the history of the earth has failed to hold its value. What makes you think the US Dollar is immune to the weaknesses of men...

Deflation doesn't affect gold. Look at the 1930's. There was a terrible deflation, and the solution was to devalue the dollar and increase the value of gold as measured in dollars. Gold is real wealth, paper dollars are just promises, and if my guess is correct, they will be promises not...

Consumer attitudes the worst in 26 years. Oh well, maybe printing another $160 billion and handing it out ike so much confetti will cheer people up. They can gets some $4 gas and a bag of rice if they are early enough in line.

If you want to talk about "bubbles", let's talk about the value of paper. What's it worth? The paper money you are measuring that gold in will inherently revert to the value of the paper its printed on as time goes by, but the gold will still be coveted. How many times does history need to...

God help those left holding the bag of paper promises that guy is selling.

As bad as the econ news was today, I'm amazed the dollar rallied at all. The only number that wasn't absolutely abysmal was the jobless claims, but it was still 10% higher than last year.

IMO, it will eventually devolve to a game of everyone unload US dollars while pretending to support it, and once they've sufficiently depegged, exited or hedged their positions, it will be allowed to fall further, without regard to its consequences for the US. I'd expect this will be done over...

You are forecasting a crash, deflation, and depression much worse than the 1930's, my friend. I just don't see the CB's allowing that to unfold...

Dollar rallies are getting weaker and weaker. I say enjoy what rallies you get, while you get them. My guess is this dollar rally ends tomorrow.

I think surf will get his head handed to him in a basket by 4-1-2009. $1100 by then is my guess. How confident are you sleeping each night with your account in US dollars? Do you think the rest of the world likes sleeping owning US dollar debt?

Not YET, LOL. Just imagine when these other countries wake up to the fact that the debt they are holding is being devalued much faster than the interest rate being paid on it. When they figure it out, do you think they'll be happy to lend us another $2 to $3 billion EACH day at low rates...

The Gulf nations will be meeting next week to discuss the dollar situation. I'm sure they will support it with words for now untl they manage to reduce their exposure.