THE WORLD ACCORDING TO THE GOLDBUG NEWSLETTER WRITER (UPDATED CRISIS EDITION) | |||
| Event | Analysis | Effect | recommendation |
| Dow under 8,000 | Had to happen; crooks getting justice | people need the safe haven of gold | BUY GOLD! |
| Rebound in Dow | the plan is working, the economy is safe | expansion of economy will help gold | BUY GOLD! |
| DEFLATION! | things getting cheaper | people have more money left over to spend on gold | BUY GOLD! |
| INFLATION! | things will be more expensive tomorrow | people will rush to spend their money on gold | BUY GOLD! |
| oil now cheap | great news at the pumps | people have more money left over to spend on gold | BUY GOLD! |
| oil on the rise | at long last! commodity reflation | the whole commodity sector is sure to follow | BUY GOLD! |
| uneconomic mines closing down | great news! Supply is crimping | less gold coming to market | BUY GOLD! |
| mines stay on schedule for opening | excellent! Lots of industry confidence | mine managers know the real story here | BUY GOLD! |
| US Congress bails out Detroit | smart move; US gov't assures employment | Wealth for all is the only way | BUY GOLD! |
| US Congress lets Detroit fall | smart move; spend more on productive sectors | the US sees reality at last. Real market forces to rule | BUY GOLD! |
Showing posts with label goldbug newsletter. Show all posts
Showing posts with label goldbug newsletter. Show all posts
Thursday, November 20, 2008
The world according to the goldbug newsletter writer, updated crisis edition
Wednesday, October 22, 2008
Spare a thought for John Lee, CFA
And that thought should be.........
....call on September 18th that included such classics as, "I have been VERY careful in not calling a bottom, however I am confident now that the bottom is in, and things can unravel quickly if short stops are taken out, creating a squeeze."
I'm not normally a vindictive person, but this time I am. There are many people out there that have followed the erroneous advice of Lee and other tunnel-visioned goldbug heroes that have now lost a lot. I've been saddened to read bullboards recently where people say they've lost their homes, they've separated from their spouses, things of that ilk because of the losses they've incurred in gold stocks.
Ever since this blog started in March this year I've banged on the drum of capital preservation. I own gold. I own silver. I have a long-term portfolio. I have been in cash (not gold...cash) for weeks and weeks. That's what capital preservation means. Many of the goldbug folk hero writers preach their own variety of capital preservation of course, but none (or perhaps i should say very very few*) of them ever include "hold cash" as part of that capital preservation. That's because the dollar is fiat junk and evil and other such soapbox rubbish.
If you think their analysis is logical and maybe even true in the long-run, well that's fine. But look at where people like Lee have led you. Look carefully. Look again. And once you have, join me in a rousing chorus of "Shut the F*** Up One time, Will Ya?".
Related Post
The world according to the goldbug newsletter writer
*Offhand i can think on Ron Rosen, though there may be others. I'd include Gary from Biiwii but i'd be doing him a great disservice because he's not a guru and doesn't want to be one. Also he's not a goldbug writer anyway. He's made the case for holding T-bills many a time. He's someone who I truly respect.
Ever since I read these words written by Lee in February this year;
We can't regulate the patient who wants to overdose on painkillers. We shouldn’t over burden all banks with piles of rules designed to prevent a few outlaw borrowers either. Remove the government as the safety net and return the responsibility back to the people. Let the careless and the weak fall, isn’t that what capitalism, evolution, and free markets are all about? Until then, dollar will continue to lose value and gold and oil will continue to rise in dollar terms.
.....I've thought, "hey, that's just the kind of person the world doesn't need as a financial advisor". So I can now only assume Mr. Lee is supremely underwater thanks to his...
....call on September 18th that included such classics as, "I have been VERY careful in not calling a bottom, however I am confident now that the bottom is in, and things can unravel quickly if short stops are taken out, creating a squeeze."
I'm not normally a vindictive person, but this time I am. There are many people out there that have followed the erroneous advice of Lee and other tunnel-visioned goldbug heroes that have now lost a lot. I've been saddened to read bullboards recently where people say they've lost their homes, they've separated from their spouses, things of that ilk because of the losses they've incurred in gold stocks.
Ever since this blog started in March this year I've banged on the drum of capital preservation. I own gold. I own silver. I have a long-term portfolio. I have been in cash (not gold...cash) for weeks and weeks. That's what capital preservation means. Many of the goldbug folk hero writers preach their own variety of capital preservation of course, but none (or perhaps i should say very very few*) of them ever include "hold cash" as part of that capital preservation. That's because the dollar is fiat junk and evil and other such soapbox rubbish.
If you think their analysis is logical and maybe even true in the long-run, well that's fine. But look at where people like Lee have led you. Look carefully. Look again. And once you have, join me in a rousing chorus of "Shut the F*** Up One time, Will Ya?".
Related Post
The world according to the goldbug newsletter writer
*Offhand i can think on Ron Rosen, though there may be others. I'd include Gary from Biiwii but i'd be doing him a great disservice because he's not a guru and doesn't want to be one. Also he's not a goldbug writer anyway. He's made the case for holding T-bills many a time. He's someone who I truly respect.
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