The Anti-Gold Campaign - now Roubini says Gold going to $1000

[gunDriller]

http://finance.yahoo.com/news/roubini-extreme-conservatives-hurting-gold-051441269.html

"Gold (CEC:Commodities Exchange Centre: @GC.1) is likely to fall below $1,000 an ounce, nearly half the level it reached at its peak in 2011 according to Nouriel Roubini, the founder of Roubini Global Economics. And the man credited for calling the financial crisis believes one of the key factors that will drive prices lower is "extreme political conservatives, especially in the United States"

Writing in an op-ed published by Project Syndicate, Roubini said the hyping of gold by political conservatives had become counterproductive.

"For this far-right fringe, gold is the only hedge against the risk posed by the government's conspiracy to expropriate private wealth," he said.

(Watch Now: Roubini Warns of Possible Crash)

"These fanatics also believe that a return to the gold standard is inevitable as hyperinflation ensues from central banks' "debasement" of paper money. But, given the absence of any conspiracy, falling inflation, and the inability to use gold as a currency, such arguments cannot be sustained," he added."


So now the one and only Nouriel Roubini says we are 'fanatics'.

but - "inability to use gold as a currency" ?!

The campaign against Gold, which is decades old but went into a WHOLE NOTHER GEAR on April 12/ April 15, is, at least, entertaining.

[mamboni]

Roubini has shown his true colors. He is a fraud and paid shill. The boys explained it to him: you talk the party line and don't stray off the plantation! First he says that gold has no intrinsic value, theh has the temerity to provide a price target. What a joke. These fraudsters are absolutely terrified of gold and terrified of a populace waking up to gold as money. All they can do is jawbone "paper money good, gold bad" because their Keynesian experiment is an utter fraud, bankrupt, insolvent and ready for burial. These clowns tell us gold is not money, that gold is a relic, that gold is irrelevent. But all they want to talk about is gold. Why is that? Doth thou protest too much Nouriel?

[Sparky]

This was the statement that bugged me:

"Bullion's two year rally from 2009 to 2011, that saw prices more than doubled, showed all the signs of a classic asset price bubble, according to Roubini, who believes there are other factors that will help drive prices back towards 2009 levels."

I have looked at price behavior in previous bubbles, and the gold price behavior has not exhibited those characteristics. The price did not exhibit the furious plunge that is observed during the two months following an asset price bubble bursting. Instead, the price has been much more characteristic of the long mid-bull consolidation in 1974-76, or the consolidation in 2008.

So, I'm happy to hear expert economists being down on gold price because it's a bubble asset, because I know the opinion is borne of ignorance.

[mamboni]

This was the statement that bugged me:

"Bullion's two year rally from 2009 to 2011, that saw prices more than doubled, showed all the signs of a classic asset price bubble, according to Roubini, who believes there are other factors that will help drive prices back towards 2009 levels."

I have looked at price behavior in previous bubbles, and the gold price behavior has not exhibited those characteristics. The price did not exhibit the furious plunge that is observed during the two months following an asset price bubble bursting. Instead, the price has been much more characteristic of the long mid-bull consolidation in 1974-76, or the consolidation in 2008.

So, I'm happy to hear expert economists being down on gold price because it's a bubble asset, because I know the opinion is borne of ignorance.

Agreed Sparky, though you are too polite. Roubini is a hack and a paid shill. There's absolutely nothing bubbly about gold's rise in the last decade. It has been a textbook bull rally with periodic consolidations. And for Roubini not to know this suggests that either he is an ignorant fraud or economics itself is a bullshit pseudoscience that can't even agree on basic definitions.

[Horn]

http://www.fu-manchu.com/morbidaj/spicoliscene3.jpg

[gunDriller]

This was the statement that bugged me:

"Bullion's two year rally from 2009 to 2011, that saw prices more than doubled, showed all the signs of a classic asset price bubble, according to Roubini, who believes there are other factors that will help drive prices back towards 2009 levels."


it's a secret bubble. /sarc

maybe 1% of the investing population participates in the Gold 'Bubble'.

the whole definition of a bubble is - almost everybody gets involved. like with the dot-com bubble. 50%+ of the investing population was involved. the smart money got out early.


oooh, i would love to debate Roubini for $$ - real money.


"inability to use gold as a currency" - come again ?

so, all the central banks and people that are buying it are using it as a ... good luck charm ?


i don't see 'normal' desperation. i see unusual desperation. there is a reason that they've mounted this massive anti-gold campaign.

i have a hunch it goes beyond the bankruptcy of the US. i think there is also a "Wag-the-Dog" thing going on, in addition to the new & massive push for gun control, including a clampdown on re-loaders.

it may be tied in to a Summer of 2013 attack on Iran.


i don't know. but they aren't doing this "Beat up on Gold" campaign for fun.

[EE_]

Jewbini must think the government will no longer be corrupt in two years, banking will become an honorable business and the stock market won't be rigged anymore.
He must think we should hoard dollars out of the system? Anything that can be tracked can be seized, or confiscated.

[Shami-Amourae]

If I listened to anyone it would be Jeffrey Christian and the CPM group. They are the ones who called the recent price crash before it happened:

Recent interview:
http://www.podtrac.com/pts/redirect.mp3//traffic.libsyn.com/kerrylutz/Jeffrey_Christian_5-24-2013.mp3

Christian says there could be another spike lower, but the price is the general low they predicted. Long term precious metals are still going way up.

[gunDriller]

If I listened to anyone it would be Jeffrey Christian and the CPM group. They are the ones who called the recent price crash before it happened:

Recent interview:
http://www.podtrac.com/pts/redirect.mp3//traffic.libsyn.com/kerrylutz/Jeffrey_Christian_5-24-2013.mp3

Christian says there could be another spike lower, but the price is the general low they predicted. Long term precious metals are still going way up.

Christian won't admit that the prices are manipulated. of course, the may just not like to use that word - his customers are pretty conventional. Christian himself has Gold Books to sell, for about $1000 a pop.


people often get into Gold & Silver because they are alarmed at the amount of money being printed.

but they also need to be told that the biggest financial player in the world, someone who has a legal license to print astronomical amonts of money, is playing the other side of the trade, using the paper markets and taking advantage of producers who use the paper markets to hedge production, sort of like a farmer hedging wheat or corn.

[mamboni]

Jewbini must think the government will no longer be corrupt in two years, banking will become an honorable business and the stock market won't be rigged anymore.
He must think we should hoard dollars out of the system? Anything that can be tracked can be seized, or confiscated.

Dollars, like all paper currencies, can be devalued, recalled or cancelled. Holding your aggregate wealth in dollars is an act of submission to the state akin to putting a yolk around your own neck. I say fuck the state and hold gold and silver. Gold and silver are soveriegn wealth beholden to no government and accepted by people the world over as money. Gold laughs at government paper and the silly games that men play with their carnival coupons called currency.

[gunDriller]

Jewbini must think the government will no longer be corrupt in two years, banking will become an honorable business and the stock market won't be rigged anymore.

only if they discover an anti-viral drug that works on Jews.

and even then, i would take a wait-and-see approach.


the one dollar-bullish event that could have happened would have been Ron Paul winning the 2012 election. he is more responsible fiscally than the hairless monkey currently residing at 1600 Penn. Ave.

but the GOP was too busy appeasing Israel to worry about 'silly things like Patriotism'.