Latest amusing maintstream hack job!

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benjamen

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http://finance.yahoo.com/news/gold-...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

The most amusing part was:
"Gold prices fell on Wednesday along with the euro as U.S. factory orders data helped the dollar extend early gains and as speculation faded that the Federal Reserve is set for another round of monetary easing."

I don't know what factory data they are talking about when this article shows us at three years lows for factory orders:
http://finance.yahoo.com/news/factory-orders-suffer-largest-drop-140302461.html

:rotflmbo:
 
Ummmm.........Yahoo Finance........that kind of says it all!

I love it when I read those dumbass headlines every day on sites like Bloomberg and MarketWatch. "Stocks up on european optimism", "Stocks set to slide over Greece fears", blah, blah, blah. These guys just write whatever they want and dare us to disprove it.
 
Cutting them a tiny amount of slack, but I used to write for magazines - monthly. Believe me, it's hard to come up with *good* content all the time, and never miss a deadline. These guys have that to an extreme - it's tough.

Since I know a couple of the BBerg crew, I find it amazing they last as long as they do. Some of them are live before the sun comes up, and well after it goes down - they must live on naps during the day and night. It must take a lotta stimulants to do that, and some of us know they do kinda rot the brain - borrowing life ahead at usurious rates just isn't a great deal, and paybacks are hell.

So, they count on a couple of things - a stopped clock being right once in awhile, and the very short memory of most people - traders *especially*. If you were ever right - you can always pull from the archives and say I told you so, (ZH) - or if wrong, just let people forget, and keep dazzling them with BS. And you can always use "fundamental analysis" and "lets look at long term trends" without making any predictions and get away with that.

They're not allowed to have skin in the game (theoretically, but that reaction to the appl pop was telling indeed). I get a heck of a lot more excited with some other commentators I watch who say things like "I'm putting this trade on now" - as Kyle said, the "give a shit" factor is far higher then - and I plot their track records along with my own to see if I should bother with listening to them. Those who tend to do well, I might shadow their trades too...those who are consistently wrong, well, that's input data at the least.

Someone awhile back compared trading results for those with the TV on vs having it off. Off made more money. The ones that at least take the effort to type (rather than talk) at me - are more worth paying attention to.
 
I thought this post was going to be about Paul Krugman... Carry on..
 
If it's not part of the Ponzi, it's part of the problem. lol.
 
Well it's apparent that the USD is getting stronger just because the euro is falling...just like a see-saw effect. If demand for euro fall, demand for dollars go up: that's the simple formula. But this won't continue for long as the U.S debts are simultaneously increasing and inflation are too. I found a recent news that BCBS is considering to make gold a Tier 1 asset for commercial banks with 100% weighting rather than a Tier 3 asset with just a 50% risk weighting.
If this decision comes into effect, major institutional will start a buying spree and gold prices will just....boom
 
It seems there is intent to tear down the reputation of gold today.

Yet another hack job today:
http://finance.yahoo.com/news/much-gold-investors-zero-suffice-040100747.html

"Still others view gold as "real money"—the one thing that will hold its value if governments create so much new currency that those currencies lose their value. Taken to its logical conclusion, this means governments would eventually agree to once again use gold as the basis for their currencies, says James Swanson, chief investment strategist at MFS, a mutual-fund company.

That is a fantasy, he argues, because some powerful nations have relatively little gold and some gold-rich nations have little power."
 
I find it interesting to discover anomalies in various media - they are more telling (to me) than anything in MSM....

For example, when all the news on NPR is financial - man, there's something very wrong in the world of finance - but they anticipated the crash and explained it long before CSNBC types did.

When I hear slashdotters talking about revolution, vs which linux distro is going to win the hearts and minds - that's significant too.

And when I see this at the Register...well, draw your own conclusions:
http://www.channelregister.co.uk/2012/05/25/euro_implosion_strategy/

It's not like they don't have plenty else to talk about, or that finance is their main bag, you know.
 
DCFusor said:
...those who are consistently wrong, well, that's input data at the least.
Click to expand...

Being consistently wrong is as valuable as being consistently correct - You just take the other side of the trades and you consistently make a fortune.



benjamen said:
"That is a fantasy, he argues, because some powerful nations have relatively little gold and some gold-rich nations have little power."
Click to expand...

Guess that would mean the gold-sparse nations would lose whatever power they have and the gold-rich nations could dictate to the world.
 

I say BooYAA! Gold at 700 will find an absolute dearth of sellers. Just as you could not find a fucking ounce at 14 when silver collapsed because of massive risk unwinds to make margin calls in '08 - '09, you will not find any when it happens again.
 
ancona said:
I say BooYAA! Gold at 700 will find an absolute dearth of sellers. Just as you could not find a fucking ounce at 14 when silver collapsed because of massive risk unwinds to make margin calls in '08 - '09, you will not find any when it happens again.
Click to expand...

And when you do find sellers, the premium will be sky high.
 
mmerlinn said:
And when you do find sellers, the premium will be sky high.
Click to expand...
...which makes you think: what's wrong with the "official" mechanism of Gold/Silver price discovery? :rotflmbo: What, manipulation??? What, "paper" gold/silver?? What, short selling, naked shorts, futures???

"Spot" price, by definition, should be something around the price, where there is an equilibrium of seller/buyers, nah? But that is just sooo naive and boring point of view. So down to earth.
 
http://finance.yahoo.com/news/gold-...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

Mostly a hack job on gold, but a thought provoking quote at the end...
"The election is a game changer, if we get an Obama win, gold prices will stay steady, but if (Republican challenger Mitt) Romney comes in, gold will edge lower," Barratt said.

"If Romney wins, he will stop spending and we will get a new Fed chairman who won't be aggressive in printing money,"


I was thinking about this before; how would Obama versus Romney winning the election affect the PM market? Thoughts?
 
It really shouldn't. They both have the same policies.

The major difference between Democrats and Republicans is that one likes to borrow and spend, while the other likes to tax and spend. The common denominator is "spend".

The GOP rejected the only man (Dr. Paul) who had an alternative to this mindset, which was to quit spending. Thus the both parties are in it together.

The fundamentals for owning PMs don't change under either man in the WH. The American dollar is going the way of the Dodo bird; the only question being the time-line.
 
they need to plant the idea that both are bad for gold and this seems to be an attempt.
And we can all relax in the knowledge of why they need to do this.

Im always somewhat reassured by bad press for PMs.
 
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