Just heard on CNBC, about gold...

jmski52

"I think that everybody that wants gold already owns it and I think that there's alot of people in gold and Bernanke rained on gold's parade this week. There's alot of hedge funds and GLD is widely owned, so I think that everybody will head for the doors in GLD at the same time."

That's paraphrased from a mere 3 minutes ago. I didn't realize that the Fed had stopped creating money and that the government had stopped burning through it. You learn something new every day!

Oh, and gasoline is up another 10 cents this past week.

Fancycashcom

Gas is out of control!

What are other major "experts" saying about the near future of Gold and Silver?

secondrepublic

people don't get rich listening to CNBC... in fact probably the opposite. whatever they are advising, usually it makes sense to do (or expect) the exact opposite.

sbeverly

I am impressed with the video technology employed by CNBC.

I can't see any of the strings going up to the puppeteer's. The puppets themselves
look like real people.

OPA

<< <i>people don't get rich listening to CNBC... in fact probably the opposite. whatever they are advising, usually it makes sense to do (or expect) the exact opposite. >>



But, but Cramer is still advocating buying the yellow stuff. Are you saying he's full of --place your own word in this slot -- ?
Going by your premise....is it time to unload?

Baley

I didn't realize that the Fed had stopped creating money and that the government had stopped burning through it

perhaps they are simply suggesting that maybe, possibly, in the grand scheme of things, there may exist other conceivable reasons for the value of the commodity ro decline at some future point in time.

OnlyGoldIsMoney

Thanks for reminding why I never watch CNBC.

derryb

It's how you get the job as White House press secretary. Comptetition is fierce these days.

David Stockman, who's experience and opinion I greatly admire, "suggests you'd be a fool to hold anything but cash now, and maybe a few bars of gold. He thinks the Federal Reserve's efforts to ease the pain from the collapse of our "national leveraged buyout" – his term for decades of reckless, debt-fueled spending by government, families and companies – is pumping stock and bond markets to dangerous heights."

Why David Stockman isn't buying it

epcjimi1

Mika, Joe Scarborough, Politico and the Rev. Al Sharpton???

Old joke, but it is "The White House Channel".

secondrepublic

<< <i>Cramer is still advocating buying the yellow stuff. Are you saying he's full of --place your own word in this slot -- ?
Going by your premise....is it time to unload? >>



Uh-oh... time to sell!
I don't watch a lot of CNBC anymore, but I think Cramer is definitely in the minority among CNBC commentators in being pro-gold. Once they all start praising it, it'll definitely be time to unload.

RedTiger

On the Nightly Business Report, Mark Leibovit recommended guns, silver and gold. I remember when he was strictly a technical guy, with his patented volume reversal set of indicators. One explanation for the migration is that the general stock market newsletter business is soft, but pushing guns and gold sells newsletters so he is going with the economic flow. Leibovit also cast doubt on the government's economic numbers. With those beliefs and recommendations Lebovit would fit right in on this forum. He mentions a target of $11000 per ounce for gold in five to seven years, and similar increases for silver, though I forget the exact number for silver. If anyone on this forum cares, Leibovit also says the overall stock market is headed much higher, into September, though it may dip before it resumes its climb.

jmski52

Thanks for reminding why I never watch CNBC.

I think it's a mistake not to have the market activity available on-screen if you have that capability at work. It doesn't mean you have to listen to them, and most of the time my volume is way down, or off.

When Santelli is on-screen, I click the volume back on as quickly as possible. Sometimes, I'll listen to Art Cashman.

I like to know what some of the most egregious offenders from banking are saying sometimes. I have a hard time listening to Leesman, or Warren Buffet. Cramer is only fun when he's off his meds, but that isn't as often as it used to be, back in the good old days before Lehman.

I'll listen to the heavy hitters from Blackstone or Pimco, sometimes - if only to evaluate their propaganda.

roadrunner

China, India, Russia, Turkey, and a number of other emerging nations/continents are still strongly on the buy side. China's goal is probably to match the US
in stated gold inventory. That means they need to keep adding 700-1000 tonnes of gold for several more years....overall approx 2 yrs of world gold production.
Such an amount wouldn't even put a dent in their currency/bond reserves. One third to one half of the annual gain is coming right from Chinese mines.

As the current financial mess escalates over the next 2-7 yrs there will be more Americans and Europeans deciding that they need gold or silver or some other form
of fiat currency protection. Increasing US mint ASE sales over the past several years suggests the demand for metal is only growing. I would probably agree that
every CNBC newscaster that wants gold already has it. Same comment for every ex-US president and ex-FED chief or ex-Treasury Sectretary.

BAJJERFAN

<< <i>China, India, Russia, Turkey, and a number of other emerging nations/continents are still strongly on the buy side. China's goal is probably to match the US
in stated gold inventory. That means they need to keep adding 700-1000 tonnes of gold for several more years....overall approx 2 yrs of world gold production.
Such an amount wouldn't even put a dent in their currency/bond reserves. One third to one half of the annual gain is coming right from Chinese mines.

As the current financial mess escalates over the next 2-7 yrs there will be more Americans and Europeans deciding that they need gold or silver or some other form
of fiat currency protection. Increasing US mint ASE sales over the past several years suggests the demand for metal is only growing. I would probably agree that
every CNBC newscaster that wants gold already has it. Same comment for every ex-US president and ex-FED chief or ex-Treasury Sectretary. >>



So should one try to amass an amount of silver equal to 6 months of income? More? Less?

cohodk

Problems arise when valuations meet expectations. I think there are lofty expectations for the end of the fiat currency and banking system. Since there is no fundamental way to place a value on PMs, there will always be concern that expectations will not be met.

Mockingjay

The USA still operates under the impression that they are still the only game in town when it comes to economics and finance. This myopic view is not going to serve well as time goes on. If the recommendations of CNBC and other financial news orgs were tracked over the last 10 - 15 years, they would probably not be too impressive by the averages.

I also believe that the long term hard assets of the well off include PM's. They have extra funds to dabble in the derivative markets, but realize that PM's are insurance against surprises. They just don't go around talking about it.