In your opinion, what does this blog need more of?

Thursday, December 4, 2014

A zerohedge comment worth reading


The poor guy is probably banned from ZH now for posting this, so I'll reprint it here as a caution to goldbug wackaloons:

I don't understand why people on a financial blog are recommending catching a falling knife. I get lectured all of the time on "this is Econ 101 yada, yada, yada", but last time I looked at entry level economics, it was to "buy low and sell high". As for financial advice (which is at your own risk according to the ZH disclaimer) I would rather listen to a man wearing a suit and tie and being chauffeured to his penthouse with art on his walls, than to listen to a prepper goldbug whose "wealth" are expired cans of food in a trailer with a Mosin Nagant and spam can ammo, bragging about his 20 year old car still runs like a champ. This is a financial blog and some of you posters are comical. I remember in the RichDad novels in the 90s to never take advice from someone who is broke. Most of you brag about how broke you are, yet you want to give advice on how to remain broke. This is a financial blog so I don't get your point. A lot of you should be taking notes, instead of giving out tidbits for others to take notes on your fluff.


"This is what happens when you sell things that don't exist to manipulate a market."

So if the market is rigged, why do you think as a joe blow sixpack like you will some how hit it big in it. If its rigged, you WILL be screwed. The stock market is a rigged casino, but at least it is rigged on the upside so you can not lose, because with bailouts and QE, you will not be allowed to lose. For PMs, you will get played like a fiddle, and many prepper patriots got a taste of that in 2011 just like they did on Silver Thursday back in 1980. Same old, same old. This SHTF meme is nothing new, as my parents were trained to hide under their desks when they were schoolchildren in the 1950s from when the Soviets were going to get us. Keep hiding and avoiding life. I wish you all the best doing that.

As for the USD "not having intrinsic value" it actually does. It's called we get to live another day on this planet by accepting USD. These banksters would rather have all-out nuclear annihilation or some bioweapon release, than to have their paper printing alchemy game shut down. That is guaranteed. The "paper it is printed on" is blackmail, and looking at the fluoridated public pacified with NFL rigged games and NBA players flopping around on the floor on their HDTVs, I don't see any change in the forseeable future.

The reason why I post these things is to not win a high school popularity contest with upvotes, but I post contrary opinions to most on here because I want to challenge and expand your beliefs.

There are other opinions out there besides regurgitating Peter Schiff talking points and contrasting them to Paul Krugman.

It just floors me that people missed out on the biggest bull market ever in stawks to buy PMs that have gone down 70%. This is why these "stackers" don't have anything of "wealth" like they claim to have. I've read a lot of your posts over the years, and you talk about buying houses and ford trucks and other things when gold hits $5,000 or $10,000 or some other King World News pie in the sky figure. You could have already had that stuff by now, had you gotten into the bailed out TBTF stawk market. Instead you are stuck with metals that only coin shops want, as I have discovered in my own experience that no one out there is interested in bartering with silver or gold coins. They want USD. If you don't believe me, try it for yourself.

I used to drink the Austrian school koolaid myself back in 2008 and 2009, but quickly realized after doing further homework that these guys are full of it.

I wish you guys all of the best, but I have to go "run and hide" according to the mom's house crowd who spend 14 hours a day on here because I have things to do today. I'm sorry if I can't reply to your kneejerks in a timely matter, but by the time I return, this article will be on Page 3 and no one will read my replies anyways as it has ran off the homepage.

I wish you "stackers" all the best, I really do, but to me the chance to do well in precious metals was last decade, not the one we are in. If there is another bull market in metals, count me in, but until then, falling knives aren't my interest.

One last thing, if you are one of those prepper stack patriot dudes, at least load up on magazines and ammo right now, at these relatively low prices. You'll be better off with that than some gold or silver coins. Those are EASY to sell. If crap really were to hit the fan, you'd be better off with a pallet of PMAGs than a stack of physical. I'm sure if you live in an area that turns into a Ferguson type scenario, magazines are a better utility than an ASE.


2 comments:

  1. I saw this one too, and I thought you might have written it--until the last paragraph.

    ReplyDelete