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Tuesday, October 8, 2013

Goldman Sachs calls gold a "slam-dunk sell"


Bloomberg - Goldman anal cyst calls gold a slam-dunk sell.

His idea is that after the government shutdown ends, downward pressure should resume on gold.

If so, then he should be shorting gold right now, not after he gets news of a shutdown end. After all, it's pretty fucking stupid to try to take a position after everyone else starts doing the same thing.

His argument is predicated on the Fed's bond-buying program being eased, which unfortunately can't happen now til December at the earliest, and might not start til 2014 if this government shutdown nonsense causes enough of a hit to the US economy.

And his argument says nothing about gold demand in China (see previous posts) or the bumper crop being harvested in India right now. Or anything happening anywhere in the rest of the world.

Cuz gold is America.

Cuz Jesus.

Thus, ignore Jeffrey Currie. He's short and he wants to telegraph it.

5 comments:

  1. As there's no general place to leave links... .I'll just drop this here. I think you'll enjoy it.

    http://endoftheamericandream.com/

    I could read the comments for hours.

    "There is a reason that America is not mentioned in the Book of Revelation. America as we know it will not exist. The Lord is coming for His Church soon. Very soon."

    I.... yeah. 'Nuff said.

    ReplyDelete
    Replies
    1. If I ever need stupid I can go to World Net Daily.

      Delete
    2. There's definitely no shortage of Stupid on the internet.

      The real question is how do we monetize it....

      Delete
  2. Sell shares in your new pubco called Livengood Mining....thats how to monetize stupidity

    ReplyDelete
  3. On top of gold going East did you catch the story of the most expensive diamond being sold in Hong Kong? Not New York or London or Amsterdam.

    299 karat white diamond story is on Wall Street Journal

    I can't link it off the iPad...but just another point as to the flow of wealth.

    ReplyDelete