AHAHAHAHAHAHAHAHAHAHHA

i just saw this. sry. this guy has NO track record. did you really mean this? pls tell me i read it wrong and you meant 2006.

i can't even find berkshire's price in 1985, but book value was around 1100 / share. i don't know what its even at now, 85,000 / share? not even gonna look it up.

if schiff actually had a record like this, he would be crowing about it (he loves self-promotion.) he'd also not be some ****** stock broker running his mouth on cnbc, he'd be running 10 billion and taking 100m off the top.

even if you meant 2006 there's no evidence to support that bc there is NO track record. none.

let's get this back on track, here's a good blog post about inflation and all that:
http://brontecapital.blogspot.com/20...-strategy.html

read the post. then read the comments. wow, thoughtful. look at how smart and informed this discussion is. whereas here the argument usually is "MORE MONEY HAS BEEN PRINTED!! Therefore inflation/hyperinflation/gold!!!!!!" ya its more complicated in real life.

Can you explain?

Also, the general fear in the economy and increased demand has surely lead to an increase in the price of gold. The question is if it has already hit its peak. I personally think Gold will go quite a lot higher next year.

ooh a new argument "printed money and people are scared so gold will go up".... you think the market doesn't already think that? you think that's not actually priced in here?

i'm glad you think that, really, but go read that post and the comments to see what actual thoughtful analysis looks like

No you're wrong. In my post I used the words 'has lead'. This means that something has already happened. I then went on to say that I believe it has not reached its peak.

Thanks for the 'thoughtful' reference though.

Thanks for sharing your opinion.

lol I guess we better leave it there. The fact that you implied something which not only I didn't say, but in fact said the opposite, makes you look rather silly. Especially when you then go on to talk about something 'thoughtful'.

I am not interested in starting to have a slagging match (as it is just a waste of time tbh) but I will let you carry on if you want.

Take care.

sorry, i really did give you too much credit. i thought your argument was evolving. in the past your argument was "lots money has been printed, therefore gold is a buy right now", which i think is just the worst argument ever. i liked your new one better.

Post better. Of course he's going to share his opinion, if you don't like it, argue, but stop acting smug in a thread designed to discuss this stuff.

I'm not against buying gold, that would be silly. There's good reasons to make a trade on gold.

I'm against buying and holding it like a long term asset. With your posts I'm not really sure where you stand, you just seem determined to knock anyone who likes gold for whatever reason without really articulating why except for vague points.

Gold is just the currency in which I prefer to hold my cash now.

the point i'm making by saying something like that is that there's no reasoned logical argument here. "i think gold is undervalued" "ok, great"

i don't have any huge strong opinions on gold except that hyperinflation isn't going to happen and stocks are almost always a better investment if you know how to read financial statements and think a little. i wouldn't short it here bc for a guy like me fighting commodity bull markets is ******ed, but i dont think its going to 5000 / oz anytime soon. i wouldn't buy it after its just tripled either though. there, i shared too.

i said above i'm not anti-gold. smart people have good reasons for buying gold right now (as i pointed out above, paul tudor jones/david einhorn just to name a couple.) they're different than people here though. almost all of the people with gold investments here aren't just people with some gold holdings- they're nutty austrians that know even less about macro than me (but read way more mises) and the same arguments back and forth get played out over and over again.

go read those arguments in the comments at the brontecapital link i posted, then think about how those arguments compare to inf0wars/mrmusicrecorder/ujkw/cartmanez. that's why i really don't even bother going into crazy great detail, really, what would be the point? again, like i pointed out above, gold could go back to 300 / oz for the next 20 years and most goldbugs here would still be holding gold and clinging to their arguments. it's not really a based on reality thing.

1985 or 1995, preferably when he bought the firm or a couple years after. The main gripe I have about Schiff is him wanting to cut income taxes, rather than double them.

I emailed Euro Pacific hoping for a longer track record.

I think a better currency than gold might be copper type "L" 10 foot tubing in 3/4" diameters. It is something you can trade. You can sell silver/gold easily on ebay. To hold paper gold will make you pay capital gains taxes to Goldman Saks.

I watched Reagan bail out banks and Carter the auto industry. There has never been a time of more wanton spending with less thought than now. They used the down turn in the business cycle to steal trillions from the middle class and China/Japan.

+1

I can't wait to sell PMs and have more than 4 funds (which I have held for 5+ years) and a few stocks I see as producing enough dividends to match the risk of the investment and inherent value of the company.

If you day trade, pardon my long term goals, our ideas may conflict simply based on that point of view, otherwise your view of my perspective as not based in reality is shortsighted and doing the thread a disservice imho.

But honestly I enjoy opposition to these simple truths.

https://personal.vanguard.com/us/funds/vanguard/all?sort=name&sortorder=asc
^ ^
The open funds Vanguard offers have preformed poorly or close to average, with exception of a few in the last 5 and 10 years.

Precious Metals and Mining, Energy, and Emerging Markets
Otis and Brons Vanguard is trash, I love that they don't have a sales fee on these funds (and a few of the tax exempt funds) but, Vanguard is lazy garbage IMO.

Vanguard is perfectly acceptable for the vast majority of passive investors.

I agree Nuclear5, however when I hear "thank god for vanguard" from someone with supposed great macro insight I think he does not have great insight. Vanguard is typical and acceptable, let the passive reap passive returns.

i don't have any money in vanguard

but its great for the vast majority of people. very good.

the fact that you just now discovered what vanguard is is lol

and the fact that you said "vanguard funds perform close to average" is also lol. i think you're missing the point here. we're talking about the index funds

If you want average go put 20k in a spyder

*SIGH*

That's because someone replied that you must invest in gold because you can't take the time to research the stock market. That's why I said that's a good thing that Vanguard is here for the average investor who can't be bothered to research. It's a clear alternative to investing in gold.

And lol @ that Vanguard has performed around the average. That's the whole point of Vanguard. I don't think that you know what Vanguard is or what index funds are.

1,200 gold
19.15 silver

fun 1% decline in the dollar v. gbp/aud/cad

If you have a lot of cash/investments but a large portion of it is not in metals, well, you are an idiot.

You have read into my statements and made precisely the oversimplifications and overgeneralizations I always hope to avoid.

seems like a good idea to atleast hedge for inflation after i think about this. The bond market is calling for virtually no inflation and gold is pricing in massive inflation. One of them has to be wrong. interesting Karl Denninger interview. about 13:00 in

http://misstrade.wordpress.com/2009/...vio-misstrade/

You say that those funds were garbage because they're not commodity funds.

My head just explodes when you say that someone invest X amount of money for retirement he shouldn't invest in a target retirement fund because it's at the years high. That's dumb on several levels.

Gold up to just under $1200, these idiots probably want to hold gold for eternity. LOL.