Bold, sure. Any frigging idiot can make a BOLD call that's off by 40%
Wall St is full of them
Marketsurfer's bold gold proclamation
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Bold, sure. Any frigging idiot can make a BOLD call that's off by 40%
Wall St is full of them
The historical value of gold is that it's a piece of shit. When it goes up amateurs come out of the wood work and have a wet dream.
The historical value of Gold that it doesn't make you rich...it just helps keep you from going totally broke on a relative basis...and only sometimes...and only in the perfect hedge (which doesn't exist) . In other words a Piece of Shit. Plus holding through of year long pull back raises your BE price accordingly. Not smart either.
The historical value of Gold that it doesn't make you rich...it just helps keep you from going totally broke on a relative basis...and only sometimes...and only in the perfect hedge (which doesn't exist) . In other words a Piece of Shit. Plus holding through of year long pull back raises your BE price accordingly. Not smart either.
Don't get me wrong just because Gold is traditionally is POS doesn't mean I won't/have't used it as a store of wealth, along with other things like certain cars, tapestries, Class 3 firearms, certain real estate, farm land, cattle farms, greasy wool, Timber farms...etc...etc...Gold is no different than those.
Make no mistake however...I actively root for the complete and total collapse the global monatary system. We're long over due.
Make no mistake however...I actively root for the complete and total collapse the global monatary system. We're long over due.
surf said he would be finished after that dow call, but hes still arnd hosting parties.
is he really a trader?
is he really a trader?
Gold as a store of wealth: (From Steve Randy Waldman)
"Stephen Den Beste once wrote about electrical power:
...electric power has unique properties, and one of the most important is that at any given instant the amount of electric power being generated will always exactly match the amount of power being consumed. If you don't deliberately balance the system, the laws of physics will do the balancing for you in ways you won't like.
Electric power has to be generated at the time it is needed, and the electric power grid overall has to have the ability to add generation capacity as demand rises, and to reduce generation when demand falls again.
But this property is not unique to electrical power. Wealth in general must also be generated at or very near the time at which it will be consumed. Just as electrical power can be stored in batteries, but it's inefficient, wealth can be stored (durable goods, commodities like gold or oil), but only very imperfectly. Here's a thought experiment: Imagine you have a million dollars today, and a reliable single-use time-machine. You buy a million dollars worth of gold, cart it into the device, and set the dial to Y3K. When you step out, you find that some apocalypse has occurred. Fortunately, humans are not extinct. The locals still like gold, and they respect your property. You live out your life, but as a very rich man would have in Neanderthal times. Your gold was perfectly storable. But your wealth was not. You are much poorer now than then. The same story would hold with any commodity, or with any practical mix of commodities, by which a person might try to store wealth. An individual's real wealth is a function of the claims he can muster on the products and services provided by a diverse current economy. Without such an economy, whatever one has, whether financial assets or real stuff, will have only very temporary and limited value."
Most traders trade for a reaon:Quote from MohdSalleh:
surf said he would be finished after that dow call, but hes still arnd hosting parties.
is he really a trader?
Money, which brings among other things, women.
When you already have those things (not that women are "things" ... sheesh), does it really matter?
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