finally gold getting some respect

[john kane]

very interesting discussion.

gonebroke, why are you thoughts on spreadbetting the gold spot price. you could leverage hugely.

what would be a good stop loss, 550? 600? 625?

with say $21K, could go long with stop loss at 600, $300 per point, if it hits $2K then your looking at $400K profit off your $21K. all tax free as well [img]/images/graemlins/smile.gif[/img]

[DcifrThs]

[ QUOTE ]
Asking Barron to just post a pic may be asking to much of him, as he is extremely long winded. Guy must be a real piece of work in real life.

[/ QUOTE ]

you don't remember your iowa farmland thread?

Barron

[Fishhead24]

[ QUOTE ]
[ QUOTE ]
Asking Barron to just post a pic may be asking to much of him, as he is extremely long winded. Guy must be a real piece of work in real life.

[/ QUOTE ]

you don't remember your iowa farmland thread?

Barron

[/ QUOTE ]


hehehehe

[img]/images/graemlins/cool.gif[/img]

[img]/images/graemlins/heart.gif[/img],
-FH-

[gonebroke2]

[ QUOTE ]
[ QUOTE ]
Let's face it, the FED is a joke..............much like this country is becoming in so many aspects.

Everyday it becomes harder and harder to be a proud American.

[/ QUOTE ]

oh, dude, c'mon...you were doing well there for a bit. why with the crazy theories again? you and gonebroke having an insane theory baby? what in the world make syou think the fed is a joke?

--begin useless argument b/c FH and GB won't listen--

is it the reduction in business cycle volatility we've experienced over the past 30 years?

is it the near full employment we have today?

or is it the ability of the interest rate managers to actually successfully execute their job and teach and learn from their counterparts the world over?

yea i guess the fed is a joke. if the punchline is a robust understanding of monetary policy.

Barron

[/ QUOTE ]

Barron,

You might think Fishhead and I have crazy theories, but I think you might be the one who is a little crazy. The FED is a joke. They create the very bubbles & busts that they claim they try to prevent. The FED was the cause of the Great Depression by tightening monetary policy, it wasn't due to tariffs like most people believe. The dollar has lost 95%+ of its value since the inception of the FED. Those unemployment numbers are bogus. Tons of high paying jobs were lost to outsourcing and the people who lost their jobs are now in the service industry, i.e. making double cheeseburgers. The FED created the dot com bubble and they created the housing bubble. Do you recall Alan Greenspan saying that everyone should get an adjustable rate mortgage?

[gonebroke2]

[ QUOTE ]
[ QUOTE ]
*** You are ignoring this user ***

[/ QUOTE ]

That feels really good. I recommend it to everyone.

[/ QUOTE ]

Why are you ignoring someone with an opposite view? That is what makes a market. Longs and shorts, bulls and bears. He is not as crazy as you think.

[DcifrThs]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Let's face it, the FED is a joke..............much like this country is becoming in so many aspects.

Everyday it becomes harder and harder to be a proud American.

[/ QUOTE ]

oh, dude, c'mon...you were doing well there for a bit. why with the crazy theories again? you and gonebroke having an insane theory baby? what in the world make syou think the fed is a joke?

--begin useless argument b/c FH and GB won't listen--

is it the reduction in business cycle volatility we've experienced over the past 30 years?

is it the near full employment we have today?

or is it the ability of the interest rate managers to actually successfully execute their job and teach and learn from their counterparts the world over?

yea i guess the fed is a joke. if the punchline is a robust understanding of monetary policy.

Barron

[/ QUOTE ]

Barron,

You might think Fishhead and I have crazy theories, but I think you might be the one who is a little crazy. The FED is a joke. They create the very bubbles & busts that they claim they try to prevent. The FED was the cause of the Great Depression by tightening monetary policy, it wasn't due to tariffs like most people believe.

[/ QUOTE ]

do you really believe this?

if so, it is very difficult to have a discussion with somebody who is as deluded as your post conveys.

facts: fed tightened policy before 1929. stock market fell and great depression started in 1929. hit the worst part of the stretch in 1932.

therefore you claim that the fed was the cause of the great depression?

how about this one, fact: animals act uniquely strangely. immediately afterward, earthquakes hit.

therefore, animals cause earthquakes. by your logic, it is indisputable. but, just like in your fed blame game, you've mistaken correlation for causality.

the causes of the precipitation of the depression were mainly a result of the excesses of the previous decade: a massive amount of buying on credit, unrestrained lending practices, purchasing stocks on margin w/ house as collateral etc.

fed tightened and the bubble hit. doesn't mean the fed caused it. the liquidity issue that ensued was the thing the fed tried to fix. but you can't bring nominal rates below 0.

another funny thing about the "fed causing" the depression, do you think that an intelligent economist whose thesis was on the great depression would be able to figure out the causes by looking at actual data? if not, do you think there'd be enough to suspect the fed was at least, in part, responsible?

and do you think that intelligent economist would then go and become the chairman of the very institution that "caused" the great depression? [img]/images/graemlins/smirk.gif[/img]

[ QUOTE ]



The dollar has lost 95%+ of its value since the inception of the FED.

[/ QUOTE ]

yes, clearly the massive national debt and huge demand of the public for international exports has nothing to do with it. must be the fed.

[ QUOTE ]
Those unemployment numbers are bogus. Tons of high paying jobs were lost to outsourcing and the people who lost their jobs are now in the service industry, i.e. making double cheeseburgers.

[/ QUOTE ]

can you prove this? show me something here because that seems completely counter-intuitive.

[ QUOTE ]
The FED created the dot com bubble and they created the housing bubble.

[/ QUOTE ]

really? this is the funniest thing i've heard that you said. so you think this is really true? how? i just want to be able to get inside your head and how you believe this stuff.

[ QUOTE ]


Do you recall Alan Greenspan saying that everyone should get an adjustable rate mortgage?

[/ QUOTE ]

yes, but i don't recall him saying that those mortgages should be extended to those without decent enough credit.

greed and humanity causes bubbles, not a central bank.

Barron

[DcifrThs]

[ QUOTE ]
Asking Barron to just post a pic may be asking to much of him, as he is extremely long winded. Guy must be a real piece of work in real life.

[/ QUOTE ]

couldn't find the thread...so ...

ORLY?!?!?

[gonebroke2]

Ben Bernanke admitted in one of his speeches that the Fed caused the great depression. What more proof do you need?

http://www.lewrockwell.com/walker/walker22.html
http://www.federalreserve.gov/BOARDD...08/default.htm

[The once and future king]

[ QUOTE ]
Why isn't the FED lowering rates???

Don't always agree with Mr. Jim Cramer, but he seems to have hit the nail directly on the head.

Actually, one would think a rate cut is coming very shortly.

[/ QUOTE ]

This would be a disaster. Rock and a hard place now, fecked if you do fecked if you dont.

[DcifrThs]

[ QUOTE ]
Ben Bernanke admitted in one of his speeches that the Fed caused the great depression. What more proof do you need?

http://www.lewrockwell.com/walker/walker22.html
http://www.federalreserve.gov/BOARDD...08/default.htm

[/ QUOTE ]

i only read a majority of the 2nd speach.

the fed caused the great depression in so much as it was attempted to restrain a bubble (more on that in a moment) and chose to respond to international conditions rather than domestic ones (i.e. capital flows to france drew gold stocks from the US-external- while at the same time, banks were failing and peopl ewere withdrawing funds from more banks in anticipation of further collapses-internal). so the fed raised rates to keep capital from moving to france ("incorrectly" in terms of monetary policy logic) at the expense of the US monetary system (more banks failed, the double bottom hit etc.).

imo, those two of the 4 things bernanke mentioned were the strongest in terms of impact on the american economy at the wrong times.

basically, you can claim the fed didn't know exactly what it was doing at that time and exacerbated the effects of the great depression (along w/ congresional protectivism, international withdrawl from the monetary system etc....eventually, the increase of liquidity into the system finally picked prices back up along w/ growth etc.).

in turn, i'll admit that i was wrong in my claim that the fed didn't precipitate the great depression. i still claim though, and i believe many would agree, that the actual causes were far more numerous than just federal monetary policy mishandling (i.e. if there wasn't speculative excesses, there wouldn't have been a monetary policy mistake).

further, note that if the fed DIDNT tighten in '28 into '29, do you think it is reasonable to expect that the economy wouldn't have crashed? if so, then you're nuts. speculative excesses were so obvious that the fed decided to step in. they caused the crash that would have happened (though maybe not as severe) in any case.

also, dude, you can't have it both ways:

[ QUOTE ]
A principal reason was the Board's ongoing concern about speculation on Wall Street. The Federal Reserve had long made the distinction between "productive" and "speculative" uses of credit, and the rising stock market and the associated increases in bank loans to brokers were thus a major concern.3 Benjamin Strong, the influential Governor of the Federal Reserve Bank of New York and a key protagonist in Friedman and Schwartz's narrative, had strong reservations about using monetary policy to try to arrest the stock market boom. Unfortunately, Strong was afflicted by chronic tuberculosis; his health was declining severely in 1928 (he died in October) and, with it, his influence in the Federal Reserve System.


[/ QUOTE ]

so you can blame the fed for "causing" (aka, precipitating) the depression by pricking a bubble and reducing 'speculative excesses...'

but you then can't turn around and state this:

[ QUOTE ]
The FED created the dot com bubble and they created the housing bubble.

[/ QUOTE ]

the FED didn't create the dot com bubble, they just chose not to prick it. obviously because the lessons they learned from previous monetary policy mistakes. in fact, the occurance of the dot com bubble is a testament to the lessons learned. especially considering how relatively easily we came out of it.

therefore, you can't claim that the fed should prick some bubbles (1990s dot com) but allow others to go unchecked (1929 excess of speculative credit).

so which is it? which of your statements is wrong? (i'll giv eyou a hint, it isn't the one about the great depression)

Barron