bellevuebully
11th January 2011, 07:05 PM
;D ;D ;D ;D ;D ;D
Have a look at this article I pulled off CNBC.....read the viewer comments below. Funnier that 3 wolf moon shirt reviews, which by the way were wayyyy funny.
'Not Owning Gold is a Form of Insanity': Chartist
Published: Monday, 10 Jan 2011 | 5:09 AM ET Text Size By: CNBC.com
Gold will eventually rally exponentially and investors who don't own the precious metal are "insane," and may be showing "masochistic tendencies," Robin Griffiths, technical strategist at Cazenove Capital, told CNBC.
"I think not owning gold is a form of insanity, it may even show unhealthy masochistic tendencies, which might need medical attention," Griffiths said.
Gold, along with other metals such as copper, has been making new all time highs, which is a strong buying signal, according to Griffiths.
"Although it's been a top performer for each of the last ten years, it's still in a linear trend. Eventually it will go exponential and make more in the last little bit than the whole of the ten year trend," he said.
Griffiths said that any short-term declines in the price of gold represent a buying opportunity and the asset is still not an "over-owned trade".
"Real assets hedge paper money being printed into oblivion, so you've got to own gold and you've got to own other commodity-related investments still," he said.
As gold [XAU=X 1385.2 4.75 (+0.34%) ] is likely to continue its rise, the value of the dollar [.DXY 80.625 -0.385 (-0.48%) ] is likely to remain in a long-term downtrend against other major currencies as the Federal Reserve maintains its policy of quantitative easing to stimulate the economy, according to Griffiths.
"The downward trend in the dollar is awesomely powerful. It's vital to get yourself out of the dollar long-term on any significant rally. Continuing to own a currency that is going to be printed virtually into oblivion … is crazy," he said.
LOL!, the euphoria of the golds bugs is amazing...they are for financial havoc soon....
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Davidduke | Jan 10, 2011 07:05 AM ET
The world is not ending in 2012, and the gold will be going backward.
WE no longer live during the Roman empire , gold is nothing more than for industrial use.
Tulip bulbs were a currency in the 1800's, and sure enough we can buy them now for pennies, the whole craze is a state of mind and speculation.
The people who are hoarding Copper, silver and other metals will be sorry because the world finances do not work like 2000 years ago.
Can you imagine going to purchase a house with golden nuggets, it's like paying with pennies.
Mortgages exist for a reason, and world finances are financed the same way.
It's the greed of people who do not pay taxes is causing this run on the metals and not to forget the lunatic right that takes us to war each time the defense industry needs more money.
I will stick with the normal currency that served me right and I have returns in excess of 50% last 3 years 70% financed by my broker in a combination of short & long trades.
What a wonderful world.
Report Abuse
Joe_Crash | Jan 10, 2011 07:31 AM ET
But...but...the bears were telling me that consumers were broke, that gdp growth in 2010 was going to be negative, that we were going for a double dip, that hyperinflation was going to be in 2010, that jobs growth would be negative, that retail sales would be negative,that stocks were going to crash,that the USD dollar was going to crash, THAT GOLD WAS GOING TO $5,000.00 and YADA,YADA and YADA.........
Report Abuse
DebSmith56 | Jan 10, 2011 07:35 AM ET
Growing demand from both China and India will continue to put upward pressure on the price of gold. In the case of China, demand from individual investors and China's central bank show no signs of slowing down. As shown in this article, the Shanghai Gold Exchange reveals that so far this year, China's imports of gold were up over 500 percent and growing rapidly:
http://viableopposition.blogspot.com/2010/12/china-and-their-growing-pile-of-gold.html
Report Abuse
Melco1867 | Jan 10, 2011 07:46 AM ET
Listenning to this idiot is real insanity ! Check his score card ... terrible...
Report Abuse
Davidduke | Jan 10, 2011 07:50 AM ET
Deb,
Only backward countries are still buying gold, none of the western countries are.
As to the individual Indian and Chinese small investors and non investors they are simply wrong and will lose a big chunk of their money.
To make money in gold or silver or any other metal, you need to buy a large amount and none of it is marginable, so the small guy buys an ounce or 2 which account for his life savings and if he needs the money to purchase a fridge or a TV he has to sell one coin at any price which eventually be a bad a deal.
Speculators are running amok with the metals for now, but they will crash and burn in the longer term.
Can you imagine banks hauling tons and tons of silver and they need huge warehouses to store it all safely .
The whole thing is a real joke.
But as we learned a couple of days ago, this gold craze is affecting people mental health resulting in a huge tragedy like AZ.
Report Abuse
Davidduke | Jan 10, 2011 07:59 AM ET
What a loser!!!
Finally, Robin Griffiths devines the future economy from a technical market approach. Griffiths is a strategist at Cazenove Capital who recently shared with viewers of CNBC that "the world has entered significant financial depression."
According to Griffiths “Equities are for losers and bond markets for winners. Equities are simply for people who like losing money,” Griffiths said.
“A double-dip is inevitable and imminent, as Keynesian stimulus measures have never worked anywhere. We are in the equivalent of a Great Depression following 3 years of credit crisis,” he added.
Griffith has taken a seat at the economic banquet of scarcity, austerity and gloom. The entrees at that table offer very slim pickings indeed: charts depicting a 20-year economic downturn; zero growth; possible additional contraction; massive unemployment, and the imminent collapse of governments globally.
If all that's not enough, Griffiths points out that the United States' shrinking M3 money supply now matches the average decline seen from 1929 to 1933.
Report Abuse
DrHeinzDoofenschmirtz | Jan 10, 2011 08:02 AM ET
this gold rush is one of the greatest ponzi schemes ever!
LMAO
Report Abuse
HonestlyIgnorant | Jan 10, 2011 08:34 AM ET
If gold is suppose to be going up because of the weak dollar or inflationary measures, wouldn't that mean that other commodity items would be subject to the same principles? And if that were the case it would seem to me that buying commodities that haven't run up like gold would be a better bet with more potential upside. I bout gold at around $330 an ounce... It was a deal back then, now it is extremely expensive... There is clearly more upside in other assets. this has the making of the Tuplip bubble
hahahahahaaa..........ahhhh, that was pretty good. ;D ;D
Have a look at this article I pulled off CNBC.....read the viewer comments below. Funnier that 3 wolf moon shirt reviews, which by the way were wayyyy funny.
'Not Owning Gold is a Form of Insanity': Chartist
Published: Monday, 10 Jan 2011 | 5:09 AM ET Text Size By: CNBC.com
Gold will eventually rally exponentially and investors who don't own the precious metal are "insane," and may be showing "masochistic tendencies," Robin Griffiths, technical strategist at Cazenove Capital, told CNBC.
"I think not owning gold is a form of insanity, it may even show unhealthy masochistic tendencies, which might need medical attention," Griffiths said.
Gold, along with other metals such as copper, has been making new all time highs, which is a strong buying signal, according to Griffiths.
"Although it's been a top performer for each of the last ten years, it's still in a linear trend. Eventually it will go exponential and make more in the last little bit than the whole of the ten year trend," he said.
Griffiths said that any short-term declines in the price of gold represent a buying opportunity and the asset is still not an "over-owned trade".
"Real assets hedge paper money being printed into oblivion, so you've got to own gold and you've got to own other commodity-related investments still," he said.
As gold [XAU=X 1385.2 4.75 (+0.34%) ] is likely to continue its rise, the value of the dollar [.DXY 80.625 -0.385 (-0.48%) ] is likely to remain in a long-term downtrend against other major currencies as the Federal Reserve maintains its policy of quantitative easing to stimulate the economy, according to Griffiths.
"The downward trend in the dollar is awesomely powerful. It's vital to get yourself out of the dollar long-term on any significant rally. Continuing to own a currency that is going to be printed virtually into oblivion … is crazy," he said.
LOL!, the euphoria of the golds bugs is amazing...they are for financial havoc soon....
Report Abuse
Davidduke | Jan 10, 2011 07:05 AM ET
The world is not ending in 2012, and the gold will be going backward.
WE no longer live during the Roman empire , gold is nothing more than for industrial use.
Tulip bulbs were a currency in the 1800's, and sure enough we can buy them now for pennies, the whole craze is a state of mind and speculation.
The people who are hoarding Copper, silver and other metals will be sorry because the world finances do not work like 2000 years ago.
Can you imagine going to purchase a house with golden nuggets, it's like paying with pennies.
Mortgages exist for a reason, and world finances are financed the same way.
It's the greed of people who do not pay taxes is causing this run on the metals and not to forget the lunatic right that takes us to war each time the defense industry needs more money.
I will stick with the normal currency that served me right and I have returns in excess of 50% last 3 years 70% financed by my broker in a combination of short & long trades.
What a wonderful world.
Report Abuse
Joe_Crash | Jan 10, 2011 07:31 AM ET
But...but...the bears were telling me that consumers were broke, that gdp growth in 2010 was going to be negative, that we were going for a double dip, that hyperinflation was going to be in 2010, that jobs growth would be negative, that retail sales would be negative,that stocks were going to crash,that the USD dollar was going to crash, THAT GOLD WAS GOING TO $5,000.00 and YADA,YADA and YADA.........
Report Abuse
DebSmith56 | Jan 10, 2011 07:35 AM ET
Growing demand from both China and India will continue to put upward pressure on the price of gold. In the case of China, demand from individual investors and China's central bank show no signs of slowing down. As shown in this article, the Shanghai Gold Exchange reveals that so far this year, China's imports of gold were up over 500 percent and growing rapidly:
http://viableopposition.blogspot.com/2010/12/china-and-their-growing-pile-of-gold.html
Report Abuse
Melco1867 | Jan 10, 2011 07:46 AM ET
Listenning to this idiot is real insanity ! Check his score card ... terrible...
Report Abuse
Davidduke | Jan 10, 2011 07:50 AM ET
Deb,
Only backward countries are still buying gold, none of the western countries are.
As to the individual Indian and Chinese small investors and non investors they are simply wrong and will lose a big chunk of their money.
To make money in gold or silver or any other metal, you need to buy a large amount and none of it is marginable, so the small guy buys an ounce or 2 which account for his life savings and if he needs the money to purchase a fridge or a TV he has to sell one coin at any price which eventually be a bad a deal.
Speculators are running amok with the metals for now, but they will crash and burn in the longer term.
Can you imagine banks hauling tons and tons of silver and they need huge warehouses to store it all safely .
The whole thing is a real joke.
But as we learned a couple of days ago, this gold craze is affecting people mental health resulting in a huge tragedy like AZ.
Report Abuse
Davidduke | Jan 10, 2011 07:59 AM ET
What a loser!!!
Finally, Robin Griffiths devines the future economy from a technical market approach. Griffiths is a strategist at Cazenove Capital who recently shared with viewers of CNBC that "the world has entered significant financial depression."
According to Griffiths “Equities are for losers and bond markets for winners. Equities are simply for people who like losing money,” Griffiths said.
“A double-dip is inevitable and imminent, as Keynesian stimulus measures have never worked anywhere. We are in the equivalent of a Great Depression following 3 years of credit crisis,” he added.
Griffith has taken a seat at the economic banquet of scarcity, austerity and gloom. The entrees at that table offer very slim pickings indeed: charts depicting a 20-year economic downturn; zero growth; possible additional contraction; massive unemployment, and the imminent collapse of governments globally.
If all that's not enough, Griffiths points out that the United States' shrinking M3 money supply now matches the average decline seen from 1929 to 1933.
Report Abuse
DrHeinzDoofenschmirtz | Jan 10, 2011 08:02 AM ET
this gold rush is one of the greatest ponzi schemes ever!
LMAO
Report Abuse
HonestlyIgnorant | Jan 10, 2011 08:34 AM ET
If gold is suppose to be going up because of the weak dollar or inflationary measures, wouldn't that mean that other commodity items would be subject to the same principles? And if that were the case it would seem to me that buying commodities that haven't run up like gold would be a better bet with more potential upside. I bout gold at around $330 an ounce... It was a deal back then, now it is extremely expensive... There is clearly more upside in other assets. this has the making of the Tuplip bubble
hahahahahaaa..........ahhhh, that was pretty good. ;D ;D