Interesting 7 year old thread brought back to life on the coin forum

OPA

regarding PM's ... you'll get a kick out this one...

2003 Forum thread re PM's

yellowkid

It is pretty interesting, sort of like reading rookie baseball player projections from the past. Some here were very right, and of course some very wrong, most aren't here any more, but you can't read much into that. I'm trying to rememebr where I was investment wise in '03, mostly paper, stocks with a heavy weighing overseas, bonds, and probably just buying some PM funds. Of course they did well and I increased that, I did take some nice profits once. Thank God for the REITS, bonds and international and emerging markets because I certainly didn't make any money in the US.
You know what they say about hindsight, but if I had even just adjusted my portfolio, or been a member here......

Follow up. Looking further I realized that if I had invested with the fund company I do)where I keep most of my money), as they suggested, I wouldn't have had any REIT, PM, Gold, Emerging Markets and a very small overseas exposure. These were the only funds I have made money on in almost 10 years, all of their "recommendations" have been in the tank!!

renman95

I love that one.

57loaded

thanks OPA
like going back to the future with RR GS
and Deadhorse (where is he?)

mhammerman

"...and Deadhorse (where is he?)"

and...where's GS?

sebrown

I sure do wish that I discovered the boards earlier in this decade and had the privilege of reading RR's advice early on.

jmski52

The condition of the US currency is worse off, not better off - than it was in '03.

When are people going to start seeing things as they are, rather than how they wish them to be?

Read that thread and realize who can see clearly, vs. those who simply can't - because the fiscal situation that affects pm prices today is similar, but not as good as it was back then.

Roadrunner has done a very good job of explaining the reality of the situation to the forum, and I thank him.

I regret that Deadhorse got run off, and I wonder where GS is also.

secondrepublic

Some very wise comments on that thread.

roadrunner

Blast from the past to our founding fathers Goldsaint, Deadhorse, and others. Back then I was just an assimulation of many of the analysts that I had been reading for the previous year or so of which Sinclair figured prominently. Once I heard for the first time in August 2002 that there were $300 TRILL in otc derivative bets in existence I immediately starting shifting course towards metals. To me that amount of derivatives was insane and JPM alone had about $35 TRILLION of them. I had never really heard much about otc derivatives prior to that. I didn't know Sinclair from Adam either but if prominent coin dealer Maurice Rosen felt he was worthy of interviewing in his newsletter, then imo he was worthy of believing. At that point Sinclair was already calling for $1200 gold. And of course that $300T derivatives figured eventually quadrupled by summer of 2008. That was one of the most important newletters than Maurice ever wrote. Had I not been a RNA subsriber at that point I can only guess as to when I may have jumped on to the PM's bandwagon. And when I joined the club at $320/$4.50 how much "risk" was there really in PM's??

Dollardude was a hoot and a die hard Dave Ramsey disciple. Haven't seen him around here since 2004-2005. He swallowed all the Koolaid available for 36,000 Dow based on what happened from 1982-2000. I was wrong on the RE bubble to some extent because I thought it would sort of peak around 2004. But in fact it kept on rolling due to mortgage backed securities. In the case of my own home it only appreciated another 10% or so from 2004-2006.

At $1300 gold and $21 silver we have similar naysayers just like we did at $400/$6 (ie PM's have peaked and will now fall for years....just like the 1980's). And I suspect we'll have replacement naysayers at $2000/$35 and higher as well. Naysayers may come and go, but Keynes still rings true:

"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
John Maynard Keynes, The Economic Consequences of the Peace, 1920, page 235ff

The above quote was part of Deadhorse's sig line. And just this week I was looking for it to add some support to a "Keynes" debate. While Keynes is often given the credit for the economic theories he preached, he actually borrowed them from 2 other economists who first came out with those ideas in the 1920's.

roadrunner

jmski52

At $1300 gold and $21 silver we have similar naysayers just like we did at $400/$6 (ie PM's have peaked and will now fall for years....just like the 1980's). And I suspect we'll have replacement naysayers at $2000/$35 and higher

You know, my brain STILL doesn't compute at numbers like $2,000 and $35 - and I am sure that many others are conditioned to process information within those constraints just like I am. I've seen $40 and $50 silver, yet my brain has a hard time with that.

Getting back to the reality of the situation, there is no number that defines how far down the dollar goes. It all depends on how many are created, who is cashing them in, and who is left holding them as more are created. Eh?

Can the gov't control the decline in the dollar? That's anybody's guess. They don't do very well in any number of other endeavors involving money, so why would this be much different? Reality dictates that the debt be dealt with, and reality has a funny way of intruding into fantasy worlds at inopportune times.

morgansforever

Figured it would be kind neat to bring it back to life, like time traveling.
RR said gold n silver would run for years, run it did.
scott