Gold

Patience As the Crisis Unfolds

All bears are not created equal. Some are deflationists, some are inflationists. Some predict the end of the world on any stock market correction, some are buyers on corrections. While I’ve warned that the future is very bleak, I’ve also always cautioned that you need to get the timing right. The big crisis is NOT here yet. Let Europe collapse first, then let’s start talking. I’m sure the panic surrounding…

Is the Gold Correction Over?

After the panic of a couple of days ago, gold has recovered nicely. As I was telling you, waterfall moves are the time to buy in a bull market. Spike moves are the time to sell, even in a bull market. I think the odds favor a correction before $2000-$2100, but this was a nice trade for people with the discipline to buy. It takes discipline to sell when everyone…

Government Stupidity Now Moving Markets

Gold up $70, the Nasdaq down 4%, the VIX up 20%: these are the effects of government stupidity. Our leaders, most notably President Obama, had a golden opportunity to inspire confidence in Americans by coming together on a debt deal that made sense. Instead, politicians confirmed  they are bungling buffoons that have no clue. This is not a drop in confidence, this is a collapse in confidence. There’s a difference….

The Debt Crisis: Stupidity Reigns Supreme

It brings me great joy that another record high in gold was greeted with yawns. Without popular media frenzy there is no bubble, period. It is just not time yet. I have no doubt that gold is going to several thousand dollars an ounce. The wave of effective defaults is already in motion, first with quantitative easing in America and second with the haircuts for Greek bondholders. The bailouts will…

Why My Pessimism is Growing

I hate to say this, but I am probably going to be a lot more pessimistic about our economic prospects moving forward. Confidence is collapsing  as nearly half of Americans think we are headed for another Depression. Our leaders are showing they are true morons who can’t come to an intelligent solution to this debt crisis. Gold is rising and those who screamed for years that gold was a crowded…