Tuesday, November 17, 2009

Mark Faber : "Gold Won't Go Below $1,000" & "Gold A Better Buy Than At $300/oz. "

Hearing quotes like this i sometimes have the feeling that i´m one of the more bearish GOLD-BUGS out there.... ;-)

Muß allerdings gestehen das ich bei solchen Zitaten so langsam als einer der pessimitischeren GOLD-BUGS durchgehe... ;-)

H/T Expected Returns for the videos & Tim from The Mess That Greenspan Made for digging out the following quote and analyzing it perfectly....

Dank an Expected Returns für die Videos und Tim von The Mess That Greenspan Made der nachfolgendes Zitat hervorgehoben hat und dies dann mehr als treffend analysiert hat.....

Faber : Maybe, gold at this level is a better buy than it was at $300 per ounce in 2001.

Tim: At first glance, the idea that gold priced at over $1,100 an ounce is "a better buy" than when the metal traded at about a quarter of that price seems reposterous. But, when you think about it just a little bit (i.e., what constitutes a "better buy" and how the fundamental factors have now swung so decidedly in gold's favor), maybe it isn't a crazy idea at all.

I wouldn't be surprised if, in another eight years - in 2017 - the yellow metal fetches $5,000 an ounce or more which, by my math, would make it a better buy. Gold may not rise as much against other currencies, but, after almost a decade of trillion dollar deficits, that almost seems like a slam dunk when the measuring stick is the U.S. dollar.

Compare yesterdays quotes from Yellen, Kohn & Bernanke with what Faber said.....In the context of these remarlks i just couldn´t resist to post the following video "highlighting" Bernanke´s past track record in seeing the obvious.... Gold is a not the way to get rich but is a wonderful way to PROTECT your "puchasing power" with a very long track record ( 750 Years Of Real Gold Prices )

Vergleicht die Zitate von Yellen, Kohn & natürlich Bernanke vom Vortag mit dem was Faber gesagt hat..... Konnte in diesem Zusammenhang nicht verkneifen das nachfolgende Video mit einigen von Bernankes vergangenen "Glanzleistungen" zu bringen wenn es darum geht einen gewissen "Überschwang" zu "sichten"......... Gold ist sicher nicht geeignet um zu spekulieren aber die Historie ( 750 Years Of Real Gold Prices ) zeigt das es sich bei Gold zumindest um eine der weinigen Möglichkeiten handelt die nachweisbar zumindest die KAUFKRAFT ERHALTEN......

Geithner Blames Collapse On Previous Admin Even As Tim Was President Of FRBNY Under Bush; Resignation Time H/T Zero Hedge

Dylan Grice / Societe Generale ZH

Of course, any gold bull, gold "bug" or otherwise, faces some serious competition, in the face of none other than Goldman Sachs' most recent partner in philanthropic, TARP subsidized ( disturbing table / diese Übersicht "entzaubert" Buffet zumindest als den "guten" Amerikaner, er bleibt ein guter Investor... mehr aber auch nicht....! ) deeds, Warren Buffett.

“Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It as no utility. Anyone watching from Mars would be scratching their head.”

Warren Buffett
At least the quote is funny but after taking a look at the following link "Our Governments Are Insolvent" it is easy to see why Buffet is wrong. Wouldn´t be the first time.....At least one quote where he is not talking his book .... ;-) This Chart is clearly telling what is going on.......I´m still thinking that the Dow/Goldratio reached in 1980 is not "unrealistic" over time......

Immerhin ein witziges Zitat von Buffet das aber gerade wenn man die Grafik in "Our Governments Are Insolvent" ansieht wohl zu den weniger ruhmreichen Einschätzungen von Buffet gehören wird.....Dieser Chart spricht zumindest momentan eine eindeutige Sprache.....Bin mehr denn je der Meinung das ein Dow/Goldratio vergleichbar mit dem Jahr 1980 in den nächsten Jahren nicht "unrealistisch" ist....


Gold: Short-Term and Long-Term Outlook Expected Returns

The Fed is sending gold higher Rolfe Winkler

Wells Fargo Needs TARP Money More Than It Admits: Jonathan Weil "Buffet Watch....."

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Anonymous Anonymous said...

It was extremely interesting for me to read the blog. Thank you for it. I like such themes and everything connected to this matter. I would like to read more soon.

7:44 PM  
Blogger jmf said...


Caroline Baum

Let’s start with last week’s attention-grabbing headline in the Wall Street Journal: “White House Aims to Cut Deficit with TARP Cash.”

The White House, we are told, won’t be using about $200 billion of the $700 billion authorized under the Treasury’s Troubled Asset Relief Program, a lifeline for ailing banks. Instead it plans to use money never borrowed, never spent, that nonetheless increased the projected 2010 deficit, to narrow that projection of $1.4 trillion, according to a Congressional Budget Office estimate.

This un-borrowed, un-spent money qualifies as deficit reduction?

First, Treasury Secretary Tim Geithner took it upon himself to outline “The Road Ahead for Asia’s Economies” in a Nov. 11 Wall Street Journal op-ed.

For Asia’s emerging economies, Geithner’s high road entails strengthening “their social safety nets through sustainable health and retirement-benefit schemes, thus reducing the need for high precautionary saving that contributes to global imbalances.”

I’m glad he used the word “sustainable,” because the U.S.-style Ponzi scheme known as the Social Security Trust Fund is anything but. Taxes on today’s workers provide the benefits for today’s retirees. There is no saving, no trust fund and very little trust that there will be anything left when younger generations retire.

5:55 AM  
Blogger cristian said...

Gold won't go down in value as long as the global crisis continues at the present level. But my guess is that gold price will go down as it has already started and it was marked by the beginning of the real estate market revival.
Where To Sell Gold Jewelry

10:57 AM  

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