Best Of The Best Share Discussion Threads

[edmondj] 08/7/2009 11:14

Bob Beckman made millions too, in the 1980s, plugging 'The Downwave'.

Ultimately the mega bears have their day; quite whether it proves astute over the long run though?

[traderabc] 08/7/2009 11:11

Peter Schiff was right , a tribute to Peter Schiff
Listen to the bulls in this laughing at him, the fools!

[traderabc] 08/7/2009 11:06

hyping a bearish theme'

Or just being realistic? This guy has been around for years, he's made some very good calls in the psst. A Ron Paul supporter too. From what I understand he is already very rich.

[edmondj] 08/7/2009 10:46

Isn't this guy essentially hyping a bearish theme to make money selling people gold and other 'alternative' financial assets?

Won't matter if he's wrong, as he'll be retiring on the fees, while clients are left with the risks.

Quite reminds me of the scare stuff Fleet Street Publications pumps out to UK investors, 'the end is nigh' etc. Great for capturing attention though (among those less cynical).

[traderabc] 08/7/2009 10:45

Peter Schiff Special JULY 4 Report 2009

Peter Schiff JULY 4 Report :
Happy independence day , Tea Parties , Tax revolts taxation through Inflation , taxation with representation is tyrannical , Friday the Dow was down , the jobs data is disappointing , job losses bad news on all fronts , government bailouts and interferences are doing more harm than good , we gained jobs only in education and healthcare , , unproductive jobs , we need manufacturing jobs not bureaucratic jobs ...the economy is shrinking the dollar was unchanged although it should be collapsing ...the FED is going to keep interests rate low , we certainly gonna have another stimulus which like throwing gasoline on fire , India joins the countries calling for an alternative to the dollar , joining Russia and China we just need Brazil to complete it...all China have to do is stop buying our bonds ....

[traderabc] 08/7/2009 10:40

More Stimulus Bigger Problems Peter Schiff

Peter Schiff VLog for Tuesday July the 7th 2009 :
today the Dow Jones closed below the head & Shoulders top pattern , people are finally starting to realize that the green shoots are not as green as they thought , there is a lot talk right now about a second stimulus , the first stimulus was unnecessary counter productive it stimulated all the wrong things in the economy , the economy is suffering from an overdose of government stimulus , the stimulus is the problem , the stimulus encourages more irresponsible borrowing and spending and prevents the economy from balancing and rebounding in a healthy way , may be in the short run there is an artificial boost in the economy but when the effects are off and the hangover sets in the problems get worse , the more stimulus the bigger problems , the stimulus is the source of the problems , the minimum wage of 6.65 an hour is going to increase ...this is wrong

[traderabc] 08/7/2009 10:32

Gold & Gold Stocks are the Best Bets, says Peter Schiff

Marc Davis
BNW Business News Wire
Jul 8, 2009

Gold prices are poised for a "spectacular" and prolonged rally as the recession deepens and investors finally become disillusioned with the U.S. dollar.

So says renowned Wall Street financial forecaster and economist Peter Schiff, who loudly warned of the October 2008 stock market crash and accompanying recession as far back as 2006.

Since the global economic meltdown, the president of the Connecticut-based investment firm Euro Pacific Capital has struck a chord with rattled investors who have lost faith in America's bedrock financial institutions. Hence, his well-received television media blitz in recent months has focused on extolling the virtues of owning gold bullion or gold equities, as well as urging Americans to get out of U.S. denominated investment assets.

[traderabc] 08/7/2009 10:26

Peter Schiff at Hartford, CT July 4th Tea Party.

[traderabc] 06/7/2009 22:42

Who will buy the I.M.F. gold and when?
Excerpts from GLOBAL WATCH:
THE GOLD FORECASTER
by Julian D.W. Phillips

At last, the U.S. Congress has permitted the U.S. representative at the I.M.F. to vote to sell the 403 tonnes of gold the I.M.F. bought from Brazil and Mexico. As it is not an individual member’s gold we fully expect the members of the fund to OK its sale. The legislation will permit U.S. representatives to the I.M.F. to agree to its planned sale of 13 million ounces of gold, one-eighth of the organization's holdings. As the financial state of the I.M.F. has improved [due to the credit crunch], the purpose of shoring up the I.M.F. balance sheet appears to not be the issue any more. We believe that the continuing attempts to sell the gold has, as its purpose, a final attempt to confirm that paper money is more important than gold, irrespective of what the proceeds are used for. If we are right, the sale will follow the pattern of the Central Bank Gold Agreement sales coming to an end on 26th September 2009.

As the U.S. controls 16.83% of the votes of the I.M.F. and a majority of 85% is needed for any resolution to be passed, the permission of Congress was important in allowing the sale to take place. The next step is for a resolution at the I.M.F. to be passed. We would think that it may take many months before the gold will be approved for sale by all member states.

The Articles of Agreement limit the use of gold in the I.M.F.' operations and transactions as follows: -

Transactions in gold require an 85% majority of total voting power. The IMF may sell gold outright on the basis of prevailing market price, and may accept gold in the discharge of a member's obligations at an agreed price on the basis of prices in the market at the time of acceptance.

[traderabc] 06/7/2009 12:59

Some intresting graphs of commodities versus stock indexes.


FreedomFest 2009 - Special Edition
The Crack-Up Boom
by Ty Andros, Editor, Tedbits Newsletter| July 3, 2009
Print



There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. --Ludwig von Mises

Make no mistake, we are in the latter category (total catastrophe) throughout the G7, unfolding over the next four years or less, but many opportunities are presented during these periods as these booms create Mal-Investments, MISPRICED ASSETS AND MARKETS OF ALL STRIPES; some will zoom higher and others lower. In the G7, Mal-Investments have been piling up for almost three decades as credit was turned into an entitlement and as easy money (money below the rate of inflation) became a policy of G7 central banks and banking systems. Combine this with tax, spending and entitlement policies created by public servants, mandates, overregulation and misstated inflation numbers – which generated excess demand in many UN-ECONOMIC sectors – and many of these economies have been converted into asset-backed economies. Now as the debt pyramids collapse, so do the industries, businesses, state, local and federal government programs which were supported by them.

[traderabc] 06/7/2009 12:21

I'm not going to keep telling you.

[traderabc] 06/7/2009 12:11

Stop spamming this thread Tomkin.

[traderabc] 06/7/2009 12:03

'Marred'? Don't think so, these protesters have the right idea.


Sunday, July 5, 2009
US Independence Day marred by Tea Party protests

[traderabc] 06/7/2009 12:01

Jim Rogers on Gold Seek Radio 30 June 2009

[traderabc] 05/7/2009 22:00

Fears for the world’s poor countries as the rich grab land to grow food


John Vidal
London Guardian
Sunday, July 5, 2009

The acquisition of farmland from the world’s poor by rich countries and international corporations is accelerating at an alarming rate, with an area half the size of Europe’s farmland targeted in the last six months, reports from UN officials and agriculture experts say.

New reports from the UN and analysts in India, Washington and London estimate that at least 30m hectares is being acquired to grow food for countries such as China and the Gulf states who cannot produce enough for their populations. According to the UN, the trend is accelerating and could severely impair the ability of poor countries to feed themselves.

[traderabc] 05/7/2009 21:55

Taibbi: NYSE ends transparency to protect Goldman Sachs


Daniel Tencer
Raw Story
Sunday, July 5, 2009

The New York Stock Exchange quietly announced last week that it would end its practice of requiring companies to report all their program trading — a move that helps shield large investment banks, particularly Goldman Sachs, from public scrutiny.

The new rule means the public will no longer be able to tell if large investment banks are manipulating the stock market for their own gain, says Matt Taibbi, the journalist whose Rolling Stone article on Goldman Sachs’ role in asset bubbles over the past century has rocked the financial world.

According to previous NYSE rules, any company that carried out program trading — essentially, large computer-automated trades worth more than $1 million — had to report the trades to the NYSE, which then made the information publicly available.

But, under new regulations (PDF) published last week, that requirement has been removed.



“The NYSE announced that it will no longer be releasing its weekly program trading data,” Taibbi wrote in a blog posting. “This is quiet obviously a move designed to make it even more impossible to track what’s going on in the NYSE and shield, in particular, Goldman Sachs.”

[traderabc] 05/7/2009 12:49

How ironic Taibbi calls the 9/11 truth movement 'conspiracy theorists', here we have Goldman Sachs accusing him of the same. For what it's worth I think he's right about Goldman and wrong about 9/11 (it WAS an inside job).
The bailouts were the greatest robbery ever carried out by wall street, it will take a generation or two for the taxpayer to pay off the bill.


The Great American Bubble Machine
Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression

MATT TAIBBI

Posted Jul 02, 2009 8:38 AM


In Rolling Stone Issue 1082-83, Matt Taibbi takes on "the Wall Street Bubble Mafia" — investment bank Goldman Sachs. The piece has generated controversy, with Goldman Sachs firing back that Taibbi's piece is "an hysterical compilation of conspiracy theories" and a spokesman adding, "We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good." Taibbi shot back: "Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it." Here, now, are excerpts from Matt Taibbi's piece and video of Taibbi exploring the key issues.

[traderabc] 03/7/2009 13:29

?

'There is better than a 50-50 chance that the US Dollar rebounds, which would likely send Gold to support at $880 '



Next stop for Gold is $2,100 not $1,300

Jordan Roy-Byrne
Posted Jul 3, 2009

Practically everyone in the gold community has mentioned the inverse head and shoulders pattern on the gold chart and the corresponding $1,300 target. The target is correct but the interpretation of the pattern is not entirely correct. That target comes from the pattern being a reversal pattern but in the current case of Gold it is not a reversal pattern. There is no downtrend it is reversing from. However, the pattern can actually function as a continuation pattern as John Murphy explains in his book, Technical Analysis of the Financial Markets:

“In the previous chapter, we treated the head and shoulders pattern at some length and described it as the best known and most trustworthy of all reversal patterns. The head and shoulders pattern can sometimes appear as a continuation instead of reversal pattern. In the continuation head and shoulders variety, prices trace out a pattern except that the middle trough in an uptrend tends to be lower than either of the two shoulders.”

Below is a picture from the book: