ROB - Heed the Advice of The Smartest Man

[DragonflyProperties]

Hi all,

An article from the October 25th edition of the Globe and Mail (Report on Business). Excerpts:

You buy Canada, says Mr. Narayanan, who can`t believe the way the loonie has been savaged. "The currency is ridiculously undervalued. I can`t think of any country in the world that has no fiscal deficit, no trade deficit and no inflation – except Canada. I think the Canadian dollar should go through parity.

"I like the whole Canadian market. I don`t particularly dig the banks because I just don`t know what`s in there [on the balance sheet]. But I`d say virtually everything else is fine."

There are, however, some things The Smartest Man wouldn`t touch. They happen to be the assets the investing masses have flocked to in this crisis: U.S. Treasuries and the greenback. "I don`t think it can hold for that much longer." Once the world has to absorb trillions of dollars in new U.S. debt – watch out. In fact, he thinks the odds of the U.S. having its own currency crisis are "at least 30 per cent."

Would you want to bet against him?

http://www.theglobeandmail.com/servlet/sto...SpecialEvents2/

Keith

 

[gwasser]

Thanks for the link Keith,



Godfried

 

[wealthyboomer]

QUOTE (DragonflyProperties @ Oct 27 2008, 09:38 PM) Hi all,
An article from the October 25th edition of the Globe and Mail (Report on Business). Excerpts:

You buy Canada, says Mr. Narayanan, who can`t believe the way the loonie has been savaged. "The currency is ridiculously undervalued. I can`t think of any country in the world that has no fiscal deficit, no trade deficit and no inflation – except Canada. I think the Canadian dollar should go through parity.

"I like the whole Canadian market. I don`t particularly dig the banks because I just don`t know what`s in there [on the balance sheet]. But I`d say virtually everything else is fine."

There are, however, some things The Smartest Man wouldn`t touch. They happen to be the assets the investing masses have flocked to in this crisis: U.S. Treasuries and the greenback. "I don`t think it can hold for that much longer." Once the world has to absorb trillions of dollars in new U.S. debt – watch out. In fact, he thinks the odds of the U.S. having its own currency crisis are "at least 30 per cent."

Would you want to bet against him?

http://www.theglobeandmail.com/servlet/sto...SpecialEvents2/

Keith
According to Eric_deCarbonnel who writes a column called "marketskeptics", the US dollar will collapse in 30 days. He and many others believe COMEX gold is a form of debt.
Right now, because of low margin requirements, sellers of gold futures only have enough gold to cover 10% of outstanding contracts stored in COMEX warehouses. If even a quarter of outstanding contracts asked for physical delivery, it would be enough to guarantee a default. Since a financial collapse would actually create the risk total default (insolvent banks can`t produce the gold or cash)This is why COMEX gold prices are falling, while physical gold is disappearing from the market place.

The forces and trends behind the financial collapse are too powerful to stop.

If you have wealth and don`t own gold, then you will soon be poor.

Lets announce the date as of Nov 27th and see if he is close!

 

[Thomas Beyer]

QUOTE (wealthyboomer @ Oct 28 2008, 07:58 PM) The forces and trends behind the financial collapse are too powerful to stop.

If you have wealth and don`t own gold, then you will soon be poor.
yes, the US $ rallied because of $s coming there as the safest place to be ! Hence a rise in currency .. that will erode over time as they print more and more money .. sure !


What forces behind what collapse are you talking about .. a collapse of what and why ?

Why did gold prices drop in recent month .. not go to $2000 / ounce ?

Why didn`t people buy Chinese Yuens or Euros or Saudi Arabia $s .. or Russian Rubels ? Because the US is the strongest economy in the world .. not Euroland or Saudi Arabia or Hungary or Canada or Russia ...

 

[RedlineBrett]

Anarchy! The sky will soon be upon us! Better build a gold house and hide under my gold bed until it passes!
QUOTE (wealthyboomer @ Oct 28 2008, 07:58 PM) According to Eric_deCarbonnel who writes a column called "marketskeptics", the US dollar will collapse in 30 days. He and many others believe COMEX gold is a form of debt.
Right now, because of low margin requirements, sellers of gold futures only have enough gold to cover 10% of outstanding contracts stored in COMEX warehouses. If even a quarter of outstanding contracts asked for physical delivery, it would be enough to guarantee a default. Since a financial collapse would actually create the risk total default (insolvent banks can`t produce the gold or cash)This is why COMEX gold prices are falling, while physical gold is disappearing from the market place.

The forces and trends behind the financial collapse are too powerful to stop.

If you have wealth and don`t own gold, then you will soon be poor.

Lets announce the date as of Nov 27th and see if he is close!

 

[wealthyboomer]

QUOTE (thomasbeyer2000 @ Oct 28 2008, 07:07 PM) Why did gold prices drop in recent month .. not go to $2000 / ounce ?
The simple answer to this question is, “because Comex-gold isn`t gold” – and because it deceptively pretends to be `the` price-setter for real gold.

Gold is gold, paper is paper, and “Comex gold” is nothing but paper masquerading as gold while simultaneously pretending to be the price-setting medium for actual gold in the world. Now, finally, Comex-gold is in the process of being unmasked.

 

[Thomas Beyer]

QUOTE (wealthyboomer @ Oct 28 2008, 08:43 PM) The simple answer to this question is, “because Comex-gold isn`t gold” – and because it deceptively pretends to be `the` price-setter for real gold.

Gold is gold, paper is paper, and “Comex gold” is nothing but paper masquerading as gold while simultaneously pretending to be the price-setting medium for actual gold in the world. Now, finally, Comex-gold is in the process of being unmasked.
what is COMEX gold ? Enlighten us non-gold bugs please !

(We love the other hard asset, that is better than gold: an income producing hard asset where people live, eat, sleep, .., pay rent .. and where real jobs are being created for the real economy: painters, plumbers, onsite managers, roofers, mortgage brokers, engineers, accountants .. a real asset with real value !!)

 

[wealthyboomer]

QUOTE (RedlineBrett @ Oct 28 2008, 07:26 PM) Anarchy! The sky will soon be upon us! Better build a gold house and hide under my gold bed until it passes!Sobering Economic News Wins You No Friends in a Delusional Nation.

 

[wealthyboomer]

QUOTE (thomasbeyer2000 @ Oct 28 2008, 07:07 PM) What forces behind what collapse are you talking about .. a collapse of what and why ?
A series of fundamental forces, (such as speculative trade) the coming to the fore of a variety of structural vulnerabilities and the failure of market participants either to learn from or remember the lessons of history.

 

[GarthChapman]

I think I will stick to investing in dirt.

Nothing much to unmask. Boring. Immoveable. Safe. No-one is creating more of it (outside of some palms in Dubai). Indestructable. Income generating. No panic in its Canadian markets. Tax advantageous. Secure.

 

[EdRenkema]

QUOTE (GarthChapman @ Oct 28 2008, 09:19 PM) I think I will stick to investing in dirt.

Nothing much to unmask. Boring. Immoveable. Safe. No-one is creating more of it (outside of some palms in Dubai). Indestructable. Income generating. No panic in its Canadian markets. Tax advantageous. Secure.

I like townhouse condos, not much dirt(gardeners look elsewhere), lots of house, good management takes care of the `small` headaches, for another take on the Canadian market in general check out this link:
http://ca.finance.yahoo.com/personal-finan...here-to-buy-now