Okay I, a gold bull, am done wincing now after considering the obvious contrary indicator implications.
Was he pitching gold in 2000? Whose fault is it if someone sat on their butt watching Beck last summer and got influenced to make a bone headed decision? Hmmm? Whose? Glenn's just trying to eek out a living as a boob toob star.
Yes but there is the nagging issue of the lag period between when they start running the presses to try to keep a contracting economy afloat and the time it takes for wheat and copper to recover. In that lag period, gold has already exploded higher in relation to commodities. Why do you think I put so much trouble into following the real (commodity adjusted) price of gold spanky? And the RPG itself has been in an uptrend since 2008. Chronic economic contraction took hold.
Yup, sure can. Especially when gold is played by a world full of casino patrons. First they drove it up too hard last summer and now it suffers a hangover from the mass exodus of the momo's. The play has always been that when gold rises vs. other assets an indication is given for oncoming strength in Uncle Buck as well. So? They both represent liquidity.
People who bought value in 2000, 2001, 2002, 2003... have seen Au rise and fall many times. Why are you promoting casino mentality? Gold does nothing other than reflect the state of things around it. And while we're at it, why no mention of the relationships between treasury yield maturities? This is where the case for or against gold is found, i.e. rising or declining curves.
You forgot the old 'Indian Wedding Season' chestnut.
They are right and wrong. They carry a righteous indignation right into battle with an unyielding determination. They are wrong when they become blinded by what they know and get slaughtered for it. They have global monetary fundamentals on their side but as a group are ill-suited to win this war because the 'community' is also populated by pitch men (and women), linear thinkers, trend followers who sound like they know what they are talking about. Many of the most respected gold advocates are intelligent, well schooled and right-minded, but believers of everything they hear are flat out getting set up to fail.