What Could Be the Largest Fraud in History

TRUSt_NO_1_2

..sounds like silver and gold will be going up in price soon....

listen to Andrew Maguire and Adrian Douglas interview
at

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_Andrew_Maguire_%26_Adrian_Douglass.html

Reaper

This would be Andrew Maguire beloved of gold sites and conspiracy theorists but somehow missed by all the main stream media, being interviewed by GATA (price manipulation conspiracy theorists). I think I can guess how this pans out without needing to sit through it.

Masomnia

Damn, and to think I just took a short position on gold.

jamesd

Sadly yes, the gold and silver bugs are perpetrating a deception, but a legal one, on the investing public, encouraging them to buy a high risk precious metal instead of something that's likely to increase in value and pay income. Fortunately the solution is easy: ignore them and buy something other than shiny metal.

guitarman001

I don't believe in buying into anything that has risen so much as gold has.... think I missed the boat on that one.

As stated in another thread, housing is also one of the biggest frauds - far too expensive. I recently asked several parents if they would see the value of their homes drop if it meant their children could afford a place in future, but the reply was an angry 'no' - their response being that their children could stay at home instead. Some life..

cloud_dog

guitarman001 wrote: »

I don't believe in buying into anything that has risen so much as gold has.... think I missed the boat on that one.

And yet you are willing to switch all your savings from cash in to S&S when S&S have risen significantly more (by a factor) than Gold; interesting (see your other thread).

One reason Gold has risen, in fact the majority of commodities / PMs have risen is due to the significant cut backs in production and the continued (relative) demand, i.e. reduced production against ongoing lower than before demand.

So the question should be.......... Why do people feel stocks are ok and yet Gold is not? We have had one of the serverest recessions, and we may not be completely out of it yet, and yet the stocks / indexes have risen astronomically in the last 12-18 months even thought there is (was) growing unemployment, lack of demand, bad debt, etc, etc, etc.

I'll give a hint........ Trillions of $ dumped in to the financial markets (not much of it has made its way to everyday people), where's it going to go?

Things aren't rising as such, prices (stock markets / commodities) are reflecting a fall in currency value.

sabretoothtigger

Yea unfortunately gold hasnt risen as much as it appears, you have to deduct the fall in currency worth which is about 20 or 25% in the last few years same for the ftse and ordinary savings even

purch

listen to Andrew Maguire and Adrian Douglas interview

No.

I'm taking your advice and henceforth I will Trust No 1 :eek:

purch

Why do people feel stocks are ok and yet Gold is not?

Probably because they don't really understand the concept of absolute value.

jamesd

cloud_dog wrote: »

Why do people feel stocks are ok and yet Gold is not?

The methods used by gold bugs are particularly helpful in discouraging the use of gold as an investment. On and on and on and... in a one track world that gold is all and the end of the world is nigh.

This doesn't apply to people like purch, though, who I think acquired his gold at quite nice prices and so far as I'm aware of sales has done quite nicely so far from the sale of a few bars, though I'm not so sure that he's turned a profit on what he spent it on.

cloud_dog wrote: »

We have had one of the serverest recessions, and we may not be completely out of it yet ... Trillions of $ dumped in to the financial markets (not much of it has made its way to everyday people), where's it going to go?

It's made its way also to gold and more general commodities. One concern for gold is that the recession is no longer in the early stage of maximum fear so that driver of the gold price should be easing. Whether fear of inflation, demand for jewelry or industry can keep ahead of that is an interesting question. I can see some short term reasons for the gold price to keep rising and some medium or long term reasons as well, but forming an opinion of how significant they are for temporary price surges lasting a few years and longer term production is more of a challenge.

My personal view is that gold producers look like a better option than gold the metal.

Jonbvn

jamesd wrote: »

My personal view is that gold producers look like a better option than gold the metal.

The Sundays rags were implying that some of the miners may have problems due the possibility of problems in SA.