Comments on: The Post-Crash Party Continues

By: Dave

Dave — Sun, 20 Sep 2009 19:15:05 +0000

I don’t agree with Harry, either; but, like everybody else, he is entitled to state his opinion. To those who are posting denigrating comments about Harry because they disagree with his opinion I would suggest that the last refuge of a debater whose arguments cannot stand on their own merits is to attack the debater personally. Doing that just discredits your own position – aside from being unnecessarily rude. Don’t be a bully. If you still don’t understand what I’m on about, please review the DR’s Comment Policy – Item 7, specifically.

Further to Peter’s comments, the same applies to buying gold in Canadian dollars. I bought some gold when it was around $900 an ounce but the Canadian dollar has increased in value against the U.S. dollar by about as much as the price of gold has risen so my gains in the price of gold have more or less been absorbed by foreign exchange. Maybe I should be in Forex options instead of – or as well as – in gold.

I’ll load up on gold when the CAD and USD come to par again. That doesn’t happen often or last long when it does, so it almost won’t matter if I’m buying on a dip or at the peak of a rally in gold price. Perhaps the principal gamble here is whether the CAD and USD will reach parity again before the USD ceases to be the world’s reserve currency.

By: Bors

Bors — Fri, 18 Sep 2009 16:45:34 +0000

If the Chinese buy gold and the IMF sells is one thing. Red or Black in Vegas would probably be a better bet because this is nothing more than gambling. Maybe gold will go up and maybe its the next big bubble. No one knows.

By: Dan

Dan — Fri, 18 Sep 2009 14:23:57 +0000

I love everything you write. Very insightful and enjoyable. However, if gold is too risky to sell then it’s too risky not to own. Even if you are 60. It’s insurance. It should be view as a hedge and if it loses value, then other commodities are probably losing value and we win in other ways.

By: Mike

Mike — Fri, 18 Sep 2009 14:17:39 +0000

Knucklehead, here, but perhaps gold is the next bubble.

By: always right

always right — Fri, 18 Sep 2009 12:47:29 +0000

I know gold is gonna be the play of lifetime in the next 10 years but how come you never mention silver or the giant spread on palladium vs platinum – silver and palladium are 2 plays that have the next 3 – 5 years of boom in their future…. i wouldn’t mind hearing some insight on the 2 metals – gold is unfortunaitly being the steriotipical play being called by everyone which to me.. puts it in bubble territory until a generous dip scares the uneducated and impulse money away…don’t get me wrong but im all over gold like white on rice but silver especially is what I would call the underdog of the next quarter century and will see a bottom at 500 an ounce in the next few year’s – silver has always been a logical medium of exchange and will be the poor mans gold of the next century -…+ Lets hear what you think about silver BB … keep up the good work:)

By: Peter Rogers

Peter Rogers — Fri, 18 Sep 2009 11:20:36 +0000

I would dearly love to know what drug Harry is taking, it must be really nice up there.
Only time will tell if your right Harry, but as you don’t ever support your arguments i’m inclined to believe you are just saying these things for attention.

By: Sundance

Sundance — Fri, 18 Sep 2009 10:10:51 +0000

Harry’s our modern Irving Fisher, a new kind of crisis and natural economic laws negationist. It’s nothing to be bothered with though, in fact perfect ignorants and morons appear for what they are sooner or later. Problem comes when they are numerous and absolve each other, therefore setting the path for further absolute moronness. Facts.

By: Cosmo Hippy

Cosmo Hippy — Fri, 18 Sep 2009 08:28:37 +0000

Harry,

In January 1946, Gould changed Dick Tracy forever with the introduction of the 2-Way Wrist Radio after a visit to inventor Al Gross. This seminal communications device, worn as a wristwatch by Tracy and members of the police force, became one of the strip’s most immediately recognizable icons, and can be thought of as a precursor to later technological developments, such as cellular phones.

Given enough dreams and enough time the world goes forward, but it is the backwards that happen regularly that hurt. Hope you do not get badly hurt.

Cosmo Hippy

By: Peter

Peter — Fri, 18 Sep 2009 05:56:16 +0000

For an investor with USD as a home currency, what Bill writes about gold makes a lot of sense.

But here on the other side of the pond, it’s a lot harder…gold reached EUR 870/oz in Q1 this year but as the bear market rally has raged has been doing nothing – stuck between EUR 650 and 700 (EUR 688 this morning)…no raging bull here. And against the ultra-safe norwegian kronor (think rich and stable country with oil, current account surplus and a huge state investment fund – and no government debt), gold has been trending slightly downwards.
Should we really trust in gold over here? Or maybe norwegian kronor is better?

By: Bernardo

Bernardo — Fri, 18 Sep 2009 01:37:34 +0000

I suppose US Gov, World Commercial Banks, Hedge Funds, Realtors and all economy can´t hide its failure anymore. October will be the time to know our fate?