@derryb said:
Lest we forget who helped bring record prices: central banks. The price of gold is a reflection of faith in the >currency it is priced in. Translation - central banks now prefer gold over dollars.
Only at the margin. Their dollar holdings dwarf gold holdings.
Well, the above chart, from a reliable source, claims central banks NOW hold 23 percent of their reserves in dollars and 24 percent in gold.
They also want gold because if they are engaged in nefarious activity they want something untraceable.
sorta like anyone who owns bitcoin? LOL
No Way Out: Stimulus and Money Printing Are the Only Path Left
You'll know we're in the 9th inning when we get some $300 moves up. That'll be the signal to go short the ETFs or something without selling your numismatics or bullion.
You'll know we're in the 9th inning when we get some $300 moves up. That'll be the signal to go short the ETFs or something without selling your numismatics or bullion.
Are you seeing any actual gold there?
No Way Out: Stimulus and Money Printing Are the Only Path Left
@derryb said:
Are you seeing any actual gold there?
Not sure what you mean but if you mean phyiscal and paper buying of gold, yeah, my friend is a treasurer for one of the Top 10 banks and they are buying custodial gold for clients. A few private banks I worked for are asking me questions about gold coins for some of their HNW clients.
I can always tell when it is no longer early in a move....I get the emails about what gold coins to buy from the Saints, Liberty Head DEs, and modern bullion. Unless someone is in the ultra-rich, they can get 5% exposure to gold with a few dozen or few hundred coins which is not a problem to store.
But I managed $$$ for a few guys where you'd need a mansion to store 5% of their net worth in gold !!!
I wonder how many times the OP has changed the dollar amount in the subject heading ??!!
I'll try to update it every $50 or so for now but at some point I'll have to change it to $100. I know people don't believe it, but we could easily see a run to ~$26k as soon as 6 months.
With all the celebration with gold price records it is important to realize what this means to the other 99% of your wealth.
Sadly, most people (including professional money managers will continue to believe that gold and silver are "too expensive" and will continue to hang onto their stock & bond portfolios while the Fed continues to pump money into the system in an attempt to keep it from evaporating.
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Q - How do you come away from the stock market with a million bucks?
A - You start with 2 million.
It is virtually IMPOSSIBLE to lose money investing in a broad basket of stocks over any time period longer than 10 years.
Goldfinger, what's your take on the backwardation in silver and the spike in LBMA lease rates?
Honestly, I don't track stuff like that since I don't concentrate on metals hour-by-hour or even day-by-day, so I wouldn't have much to offer. But backwardation and spiking in borrowing rates are often signs of late-cycle demand and/or shorts getting caught.
I see no crash in gold or silver prices, but we are getting late in the game, at least for now. We will need a correction OR a time pause to rebuild. But the action in both is definitely bullish.
Ed Yardeni today said he could see $10,000 by 2030 so maybe that's a sign to go short.
@ProofCollection said:
I'll try to update it every $50 or so for now but at some point I'll have to change it to $100. I know people don't >believe it, but we could easily see a run to ~$26k as soon as 6 months.
$26,000 for gold ? I hope not, sounds like a global nuke war !!!
I could see a meltup to $5,000 but even this is a highly unlikely scenario. $5,000 by 2030 remains my target with $10,000 feasible by 2040. But I think this gold super-cycle ends with gold at about $7,500 max if in fact $5,000 isn't the peak.
@jmski52 said:
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash >around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
The money managers are right and have been, Jim Sinclair has not been. Stocks and bonds provide much better returns than gold and PMs and no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
A small % in PMs we can debate. But anybody 100% in PMs is financially reckless and not a serious portfolio manager or investment counselor.
You can do what you want with your $$$ as can all of us. But when you manage $$$ PROFESSIONALLY, you have a fiduciary duty to do what is prudent and responsible. 100% into a single asset class (ANY asset class) is reckless and not appropriate.
@jmski52 said:
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash >around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
The money managers are right and have been, Jim Sinclair has not been. Stocks and bonds provide much better returns than gold and PMs and no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
A small % in PMs we can debate. But anybody 100% in PMs is financially reckless and not a serious portfolio manager or investment counselor.
You can do what you want with your $$$ as can all of us. But when you manage $$$ PROFESSIONALLY, you have a fiduciary duty to do what is prudent and responsible. 100% into a single asset class (ANY asset class) is reckless and not appropriate.
A small % in PMs we can debate. But anybody 100% in PMs is financially reckless and not a serious portfolio manager or investment counselor.
Gundlach says 25%, Morgan Stanley says 20% now - and they are both behind the curve. Central banks are going to 30% gold. So who is financially reckless?
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Q - How do you come away from the stock market with a million bucks?
A - You start with 2 million.
It is virtually IMPOSSIBLE to lose money investing in a broad basket of stocks over any time period longer than 10 years.
Maybe in absolute dollar terms, but what about purchasing power? If I double my money but a dollar buys half as much as it used to, did I really make any profit?
@jmski52 said:
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash >around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
The money managers are right and have been, Jim Sinclair has not been. Stocks and bonds provide much better returns than gold and PMs and no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
Historically perhaps, but that doesn't recognize what many people still haven't recognized is that we're in a whole new global economy now. There's a global debt crisis, the US wants and needs to weaken the US Dollar, and the US economy is realigning for increased domestic production. What worked prior to these changes might not work as well going forward. It works until it doesn't.
@ProofCollection said:
I'll try to update it every $50 or so for now but at some point I'll have to change it to $100. I know people don't >believe it, but we could easily see a run to ~$26k as soon as 6 months.
$26,000 for gold ? I hope not, sounds like a global nuke war !!!
I could see a meltup to $5,000 but even this is a highly unlikely scenario. $5,000 by 2030 remains my target with $10,000 feasible by 2040. But I think this gold super-cycle ends with gold at about $7,500 max if in fact $5,000 isn't the peak.
You might not be paying attention to the precious metals news. The bullion bank inventories are tight. ETFs are starting to wonder if they'll be able to acquire their physical, leasing rates and potential defaults are in unusual territory. And the cherry on top: Retail hasn't really gotten in the metals market yet.
@jmski52 said:
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash >around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
The money managers are right and have been, Jim Sinclair has not been. Stocks and bonds provide much better returns than gold and PMs and no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
A small % in PMs we can debate. But anybody 100% in PMs is financially reckless and not a serious portfolio manager or investment counselor.
You can do what you want with your $$$ as can all of us. But when you manage $$$ PROFESSIONALLY, you have a fiduciary duty to do what is prudent and responsible. 100% into a single asset class (ANY asset class) is reckless and not appropriate.
.
I would NEVER have someone else manage my money.
The so-called "professionals" and fiduciaries always have their own interests in the back of their minds, not just the interests of their clients.
The money managers are right and have been, Jim Sinclair has not been.
It's obvious that you know nothing about Jim Sinclair. Nothing.
Stocks and bonds provide much better returns than gold
Except for the past 25 years.
no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
If someone has significant wealth and has to hire a money manager, it indicates to me that they didn't earn their own money - they got it from Mom & Dad. That doesn't elicit much respect from anyone who has worked for their wealth.
The training of "money managers" isn't complete until they learn how to scare and intimidate their clients into thinking that they can't manage their own finances.
when you manage $$$ PROFESSIONALLY, you have a fiduciary duty to do what is prudent and responsible.
This type of statement is an example of the arrogant attitude that twists the whole concept of what is prudent and responsible. Not everyone is impressed with the financial planning business.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: The money managers are right and have been, Jim Sinclair has not been.
It's obvious that you know nothing about Jim Sinclair. Nothing.
Stocks and bonds provide much better returns than gold
Except for the past 25 years.
no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
If someone has significant wealth and has to hire a money manager, it indicates to me that they didn't earn their own money - they got it from Mom & Dad. That doesn't elicit much respect from anyone who has worked for their wealth.
The training of "money managers" isn't complete until they learn how to scare and intimidate their clients into thinking that they can't manage their own finances.
when you manage $$$ PROFESSIONALLY, you have a fiduciary duty to do what is prudent and responsible.
This type of statement is an example of the arrogant attitude that twists the whole concept of what is prudent and responsible. Not everyone is impressed with the financial planning business.
I've known more than a few, in high tech, that worked LONG hours, and were burned out by the time they went home...so they did hire "professional money managers".
They didn't inherit anything...just didn't have the brain focus after working as much as they did.
I, myself, tried one for 18 months. Didn't like how they did the amount I let them manage. They made more themselves than they made me. And, when I canceled them, and they asked "Why?", I told them to look at what the rest of my portfolio, under my management, did compared to what they did. He said nothing but "ok. Understood".
So, I am not a fan of them, but I do understand why some use them....and it isn't because they didn't earn their own money, like you are saying
@jmski52 said:
Q - How do you come away from the stock market with a million bucks?
A - You start with 2 million.
It is virtually IMPOSSIBLE to lose money investing in a broad basket of stocks over any time period longer than 10 years.
Maybe in absolute dollar terms, but what about purchasing power? If I double my money but a dollar buys half as much as it used to, did I really make any profit?
Take a simple inflation calculator and see if that statement rings true. $2 today has the same PPP as $1 in Jan 1998. If you invested $1 in Jan 1998 you'd have $11 today with dividends reinvested.
Since the stock market was a thing I dont believe there was ever a point in which broad market investment didn't come out significantly ahead over a long enough period of time(30ish years)
@softparade said:
5-10% of your portfolio in PM's sounds rational.
It won't wreck your portfolio....but I have worked with some people with small 6-figure portfolios and for them to tie up $30,000 in a PM that doesn't grow or pay dividends/interest does not hurt the portfolio too much. As long as they are OK with it... then it's not reckless.
My problem was with the idiots who saw a late-night infomercial....were convinced they could earn 20-30% a year for 10 years...and wanted to put 30-40% of the pie into PMs/gold.
@softparade said:
5-10% of your portfolio in PM's sounds rational.
It won't wreck your portfolio....but I have worked with some people with small 6-figure portfolios and for them to tie up $30,000 in a PM that doesn't grow or pay dividends/interest does not hurt the portfolio too much. As long as they are OK with it... then it's not reckless.
My problem was with the idiots who saw a late-night infomercial....were convinced they could earn 20-30% a year for 10 years...and wanted to put 30-40% of the pie into PMs/gold.
Yep.... there have always been those snake oil salesmen.
In regards to money manager / financial planners.... for me, I have a distrust for them. Of course... they have a strong incentive to conduct business that is favorable to their own interest (annuities anyone?). So far I have done my own finances. Could a professional have made a few bucks more for me? Perhaps... perhaps not, after their fees.
That being said, there are certainly circumstances where a financial planner may be advisable. As I am getting older, I give some thought to starting to use one. A good one is a valuable resource, just like having a good lawyer, etc. The problem is finding the good ones. Many out there advertise their credentials, the piece of paper saying they are 'certified', etc. But we all know how much we tend to trust paper, don't we!?
@tincup said:
That being said, there are certainly circumstances where a financial planner may be advisable. As I am getting >older, I give some thought to starting to use one. A good one is a valuable resource, just like having a good lawyer, >etc. The problem is finding the good ones. Many out there advertise their credentials, the piece of paper saying >they are 'certified', etc. But we all know how much we tend to trust paper, don't we!?
Certified Financial Planners (CFPs) and Chartered Financial Analysts (CFA) are the ones to demand (I have both). The CFA designation is much harder and usually seen in Wall Street circles while CFPs are usually retail shops.
@lafaa123 said:
I would NEVER have someone else manage my money.
The so-called "professionals" and fiduciaries always have their own interests in the back of their minds, not just the interests of their clients.
Not to mention, they're NEVER going to put you into physical metals because there's no way for them to make money on that.
Comments
Well, the above chart, from a reliable source, claims central banks NOW hold 23 percent of their reserves in dollars and 24 percent in gold.
sorta like anyone who owns bitcoin? LOL
No Way Out: Stimulus and Money Printing Are the Only Path Left
Gold above $4150, 4160.0 ATH.
http://ProofCollection.Net
kitco shows high of 4150 so far
USD correlation to gold short term is positive, long-term negative. It's doing its own thing, for now. Cool.
kitco is over 4150 now
I'm seeing $4,189 in the overnight COMEX futures markets:
https://finviz.com/futures.ashx
You'll know we're in the 9th inning when we get some $300 moves up. That'll be the signal to go short the ETFs or something without selling your numismatics or bullion.
futures just passed 4200
Are you seeing any actual gold there?
No Way Out: Stimulus and Money Printing Are the Only Path Left
I wonder how many times the OP has changed the dollar amount in the subject heading ??!!
Not sure what you mean but if you mean phyiscal and paper buying of gold, yeah, my friend is a treasurer for one of the Top 10 banks and they are buying custodial gold for clients. A few private banks I worked for are asking me questions about gold coins for some of their HNW clients.
I can always tell when it is no longer early in a move....I get the emails about what gold coins to buy from the Saints, Liberty Head DEs, and modern bullion.
Unless someone is in the ultra-rich, they can get 5% exposure to gold with a few dozen or few hundred coins which is not a problem to store.
But I managed $$$ for a few guys where you'd need a mansion to store 5% of their net worth in gold !!!
Q - How do you come away from the stock market with a million bucks?
A - You start with 2 million.
Goldfinger, what's your take on the backwardation in silver and the spike in LBMA lease rates?
I knew it would happen.
Thanks, I think we all trust @MsMorrisine, we don't need the additional evidence.
I'll try to update it every $50 or so for now but at some point I'll have to change it to $100. I know people don't believe it, but we could easily see a run to ~$26k as soon as 6 months.
http://ProofCollection.Net
With all the celebration with gold price records it is important to realize what this means to the other 99% of your wealth.
No Way Out: Stimulus and Money Printing Are the Only Path Left
With all the celebration with gold price records it is important to realize what this means to the other 99% of your wealth.
Sadly, most people (including professional money managers will continue to believe that gold and silver are "too expensive" and will continue to hang onto their stock & bond portfolios while the Fed continues to pump money into the system in an attempt to keep it from evaporating.
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
I knew it would happen.
in venezuela, with the hyperinflation, their stock market ran up too
i don't know if it kept pace with inflation
it did not keep pace with inflation
It is virtually IMPOSSIBLE to lose money investing in a broad basket of stocks over any time period longer than 10 years.
Honestly, I don't track stuff like that since I don't concentrate on metals hour-by-hour or even day-by-day, so I wouldn't have much to offer. But backwardation and spiking in borrowing rates are often signs of late-cycle demand and/or shorts getting caught.
I see no crash in gold or silver prices, but we are getting late in the game, at least for now. We will need a correction OR a time pause to rebuild. But the action in both is definitely bullish.
Ed Yardeni today said he could see $10,000 by 2030 so maybe that's a sign to go short.
$26,000 for gold ? I hope not, sounds like a global nuke war !!!
I could see a meltup to $5,000 but even this is a highly unlikely scenario. $5,000 by 2030 remains my target with $10,000 feasible by 2040. But I think this gold super-cycle ends with gold at about $7,500 max if in fact $5,000 isn't the peak.
The money managers are right and have been, Jim Sinclair has not been. Stocks and bonds provide much better returns than gold and PMs and no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
A small % in PMs we can debate. But anybody 100% in PMs is financially reckless and not a serious portfolio manager or investment counselor.
You can do what you want with your $$$ as can all of us. But when you manage $$$ PROFESSIONALLY, you have a fiduciary duty to do what is prudent and responsible. 100% into a single asset class (ANY asset class) is reckless and not appropriate.
5-10% of your portfolio in PM's sounds rational.
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
A small % in PMs we can debate. But anybody 100% in PMs is financially reckless and not a serious portfolio manager or investment counselor.
Gundlach says 25%, Morgan Stanley says 20% now - and they are both behind the curve. Central banks are going to 30% gold. So who is financially reckless?
I knew it would happen.
Like all things in life it's all a matter of opinion.
Maybe in absolute dollar terms, but what about purchasing power? If I double my money but a dollar buys half as much as it used to, did I really make any profit?
Historically perhaps, but that doesn't recognize what many people still haven't recognized is that we're in a whole new global economy now. There's a global debt crisis, the US wants and needs to weaken the US Dollar, and the US economy is realigning for increased domestic production. What worked prior to these changes might not work as well going forward. It works until it doesn't.
You might not be paying attention to the precious metals news. The bullion bank inventories are tight. ETFs are starting to wonder if they'll be able to acquire their physical, leasing rates and potential defaults are in unusual territory. And the cherry on top: Retail hasn't really gotten in the metals market yet.
http://ProofCollection.Net
$6000 Canadian $$$....oh my!!
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
.
I would NEVER have someone else manage my money.
The so-called "professionals" and fiduciaries always have their own interests in the back of their minds, not just the interests of their clients.
.
The money managers are right and have been, Jim Sinclair has not been.
It's obvious that you know nothing about Jim Sinclair. Nothing.
Stocks and bonds provide much better returns than gold
Except for the past 25 years.
no professional money manager would risk their reputation or clients by investing in something that doesn't grow, pay dividends, or pay interest.
If someone has significant wealth and has to hire a money manager, it indicates to me that they didn't earn their own money - they got it from Mom & Dad. That doesn't elicit much respect from anyone who has worked for their wealth.
The training of "money managers" isn't complete until they learn how to scare and intimidate their clients into thinking that they can't manage their own finances.
when you manage $$$ PROFESSIONALLY, you have a fiduciary duty to do what is prudent and responsible.
This type of statement is an example of the arrogant attitude that twists the whole concept of what is prudent and responsible. Not everyone is impressed with the financial planning business.
I knew it would happen.
I've known more than a few, in high tech, that worked LONG hours, and were burned out by the time they went home...so they did hire "professional money managers".
They didn't inherit anything...just didn't have the brain focus after working as much as they did.
I, myself, tried one for 18 months. Didn't like how they did the amount I let them manage. They made more themselves than they made me. And, when I canceled them, and they asked "Why?", I told them to look at what the rest of my portfolio, under my management, did compared to what they did. He said nothing but "ok. Understood".
So, I am not a fan of them, but I do understand why some use them....and it isn't because they didn't earn their own money, like you are saying
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
So, I am not a fan of them, but I do understand why some use them....and it isn't because they didn't earn their own money, like you are saying
Fair enough. I made an assumption that I can't back up with specific and direct knowledge other than as an outside observer.
OTOH, I have seen someone close get buffaloed by these types of "professionals" more than once.
I knew it would happen.
Take a simple inflation calculator and see if that statement rings true. $2 today has the same PPP as $1 in Jan 1998. If you invested $1 in Jan 1998 you'd have $11 today with dividends reinvested.
Since the stock market was a thing I dont believe there was ever a point in which broad market investment didn't come out significantly ahead over a long enough period of time(30ish years)
how do you beat hyperinflation?
Buy Au?
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
It won't wreck your portfolio....but I have worked with some people with small 6-figure portfolios and for them to tie up $30,000 in a PM that doesn't grow or pay dividends/interest does not hurt the portfolio too much. As long as they are OK with it... then it's not reckless.
My problem was with the idiots who saw a late-night infomercial....were convinced they could earn 20-30% a year for 10 years...and wanted to put 30-40% of the pie into PMs/gold.
Yep.... there have always been those snake oil salesmen.
In regards to money manager / financial planners.... for me, I have a distrust for them. Of course... they have a strong incentive to conduct business that is favorable to their own interest (annuities anyone?). So far I have done my own finances. Could a professional have made a few bucks more for me? Perhaps... perhaps not, after their fees.
That being said, there are certainly circumstances where a financial planner may be advisable. As I am getting older, I give some thought to starting to use one. A good one is a valuable resource, just like having a good lawyer, etc. The problem is finding the good ones. Many out there advertise their credentials, the piece of paper saying they are 'certified', etc. But we all know how much we tend to trust paper, don't we!?
Certified Financial Planners (CFPs) and Chartered Financial Analysts (CFA) are the ones to demand (I have both). The CFA designation is much harder and usually seen in Wall Street circles while CFPs are usually retail shops.
Not to mention, they're NEVER going to put you into physical metals because there's no way for them to make money on that.
http://ProofCollection.Net
$4300 is here.
http://ProofCollection.Net