Marc Faber On Gold 'Bugs' And Equity 'Cockroaches'

http://www.zerohedge.com/news/2014-06-18/marc-faber-gold-bugs-and-equity-cockroaches

...the monetary policies of central banks will lead to a further loss of purchasing power in the value of paper money. The CNBC anchor is perturbed as the market is selling gold and buying stocks; to which Faber rebuffs; investors are shunning gold "because the media doesn't like gold, nobody at CNBC owns gold. Nobody at Bloomberg owns gold. Gold is being constantly talked down by the media, and Fed officials, and economists, who also don't own any gold. They're all stocked up in equities." "When people talk about people who are optimistic about gold, they call them 'gold bugs.' A bug is an insect. I don't call equity bulls 'cockroaches.' Do you understand? There is already a negative connotation with the expression of 'gold bug.'"

Roubini attacks the gold bugs

http://detlevschlichter.com/2013/06/roubini-attacks-the-gold-bugs/

This Time, Gold Bugs May Have a Point

http://online.barrons.com/article/SB50001424052748704551504578481043764806974.html?mod=BOL_hpp_mag#articleTabs_article%3D1

It's Time

http://www.scribd.com/doc/116587147/Qbamco-It-s-Time

Gold Bugs and Anti-Gold Bugs

http://mises.org/daily/6224/Gold-Bugs-and-AntiGold-Bugs

Gold bugs haven’t lost the Midas touch

http://www.marketwatch.com/story/gold-hasnt-lost-its-midas-touch-2012-08-27

Radical gold bugs vindicated?

http://www.marketwatch.com/story/radical-gold-bugs-vindicated-2012-07-16

Gold bugs eye possible support from a US capital adequacy rule change; 'May be biggest event in gold market since US dropped gold standard'

http://www.interest.co.nz/news/59995/gold-bugs-eye-possible-support-us-capital-adequacy-rule-change-may-be-biggest-event-gold-

Ben "CTRL+P" Bernanke's Open Mouth Is (Still) A Goldbug's Best Friend

http://www.zerohedge.com/news/bens-open-mouth-still-goldbugs-best-friend

Ben Bernanke Is Indeed A Gold Bug's Best Friend

http://www.zerohedge.com/news/ben-bernanke-indeed-gold-bugs-best-friend

Beginning just before 10 am, or the moment Ben's prepared remarks went off embargo, gold and silver have been on a relentless tear (chart 1), with Gold passing $1760/ounce and now just $150 from its all time nominal highs.

A Gold (And Physical Platinum) Bug At The Fed?

"Do as I do, not as I say."

http://www.zerohedge.com/news/goldbug-fed

Battered gold bugs still defying bear raid

http://www.marketwatch.com/story/battered-gold-bugs-still-defying-bear-raid-2011-10-03

Record prices spawn new wave of China gold bugs

I'm a little concerned about the proliferation of gold derivatives trading, as they are merely paper contracts, but I am enthused by the exploding demand for physical bullion.  The battle between perma-short bullion banks against the physical buyers will end badly for the former.  You can print paper into perpetuity, but you can't print an ounce of real gold.


http://www.reuters.com/article/2011/08/29/us-china-gold-demand-idUSTRE77S15X20110829

Gold bugs about to get squashed

http://www.marketwatch.com/story/gold-bugs-about-to-get-squashed-2011-02-16?reflink=MW_news_stmp

This is more anti-gold advice from mainstream media, the same ones who have been wrong for 10 years running.

World Bank President considers gold in overhaul of Bretton-Woods

This can't be. The World Bank, the financial bastion of old world economics is touting gold as a reference for currency values. The World Bank isn't some random group of lunatic fringe conspiracy theorists. Historically, they have certainly not been gold bugs--if anything, they have been anti-gold for decades. Now this:

http://www.bloomberg.com/news/2010-11-07/g-20-should-start-work-on-new-monetary-system-world-bank-s-zoellick-says.html

The development of a monetary system to follow on from 1971’s Bretton Woods II will take time, but it’s time to start, World Bank President Robert Zoellick writes in the Financial Times.

This week’s summit of the Group of 20 leading economies in Seoul presents a test of international cooperation offering an opportunity for a key group of G20 countries to agree on parallel agendas of structural reform, Zoellick writes.

The system should evaluate using gold as a reference point of market expectations about inflation, deflation and future currency values, Zoellick writes, noting that while textbooks may view gold as “old money,” markets use it today as an alternative monetary asset.

Is this a further sign the global, fiat-based currency system is on the brink of collapse? This announcement by the head of the World Banks is like the Pope declaring religion is dead.

Who still thinks gold is a "barbaric relic"--because "you can't eat it"? Try eating green paper, and see how that tastes.

Once more--Gold, bitchez!

75 gold bugs price targets

Their predictions appear extreme, but then again, they've been on the right side of the trade for the last 10 years.

http://www.ibtimes.com/articles/71218/20101012/list-of-75-distinguished-analysts-who-see-gold-at-5000-dollar.htm

Charlie Munger on communism, botox, and goldbug jerks

As fellow billionaire Warren Buffett's sidekick, when Charlie Munger speaks, people listen.

http://finance.yahoo.com/news/Charlie-Munger-on-Communism-fool-1939650256.html

On investing in gold: I don't have the slightest interest in gold. I like understanding what works and what doesn't in human systems. To me that's not optional; that's a moral obligation. If you're capable of understanding the world, you have a moral obligation to become rational. And I don't see how you become rational hoarding gold. Even if it works, you're a jerk.

I guess I'm a jerk, then.

In closing, here is a quote from Warren Buffett's dad, Howard Buffett.

But when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty.

- Howard Buffett (Warren Buffett’s father and former U.S. Congressman)

I guess Mr. Munger thinks his partner's late dad was also a jerk.

Russian spies are gold bugs

http://www.informationliberation.com/?id=31045

Gold-conspiracy theories go mainstream

Kaboom!

http://www.marketwatch.com/story/radical-gold-bugs-vs-wall-street-2010-04-05

COMEX December gold and silver options

COMEX December gold and silver options expire tomorrow, Monday, November 23, which usually means the commercial shorts will go into overdrive to manipulate the price down. However, given the physical shortage, gold has been gapping up in anticipation of this date. Combined with the backwardation of gold as I blogged last Friday here, the price of gold is increasing this evening (in Asian Monday morning trading).

Should rumors of COMEX defaults on gold and silver actually occur, the exchange may just retroactively invalidate all delivery contracts, and merely slap a fine on short sellers who settle via cash. Physical buyers will be stiffed, despite receiving a cash premium.

To those who believe a COMEX default will never occur, refer to the London Metals Exchange default on nickel in 2006. Buyers did NOT receive the physical inventory, and short sellers merely had to pay a 10% fine above spot price.

http://www.lme.com/4670.asp

Should such a default occur with gold or silver, the price of physical gold and silver will soar, as will paper certificates allegedly backed by the precious metals. There will be huge dislocations in financial markets worldwide should such a default on COMEX occur. Gold bugs ridiculed for their conspiracy theories will have the last laugh.

The CFTC is also reviewing enforcement of position size limits in the energy and precious metals pits, which would force bullion banks to drastically reduce their concentrated permanent short positions. This will also catalyze gold and silver price spikes.