Our dear readers who bought gold back in 1999 have made about 4 times their money. This year alone it is up 15% – a very respectable return. Most of that has come as a result of paper currencies going down. Investors are buying gold to protect themselves.
September 17th, 2010 | Bill Bonner | 16 comments | ContinuedAll Posts Tagged With: "money"
Moral Condemnation for Traders
In the recent copy of Golf Digest, sitting on the coffee table in your editor’s hotel room, we happened on a two page ad for the SPDR Gold Exchange Traded Fund. It’s a pretty add, with lots of gold in it. The headline says, “Gold has a reputation for preserving wealth. Then again, we’re only going back 5,000 years.” There must be a lot of rich golfers out there. Gold made a new high when the December futures contract traded at $1,273.20.
September 15th, 2010 | Dan Denning | 10 comments | Continued
Myths, Human Psychology and Trading
There are many myths about the stock market. No one is exactly sure what the stock market is or how to make money from it consistently. We all have to come to our own understanding of what it is and do the best we can from there.
September 15th, 2010 | Murray Dawes | 1 comment | Continued
Capital Inadequacy
It is important to grasp just how important capital adequacy standards are. They control the money supply… sort of. To be more specific, they control the velocity of money. Please don’t go to sleep. This is actually the biggest fraud ever committed. It goes as follows:…
September 13th, 2010 | Nickolai Hubble | 10 comments | Continued
Resistance at 4,700
Last week we released a video to Daily Reckoning readers that was my weekly market update sent to my subscribers in Slipstream and Swarm. In it I was very bearish about the immediate future of the market because the ASX 200 had fallen below the key level of 4,400.
September 9th, 2010 | Murray Dawes | 8 comments | Continued
Let it Be
Watch the bonds… We could be seeing the first crack in the bond market. But it seems too early to us. It seems more likely that the bond market will stretch this out…bringing more and more hapless investors on board before finally sinking. Everything takes longer than you expect.
September 9th, 2010 | Bill Bonner | 0 comments | Continued
Millionaire Factory Misfires
The Aussie market is up 2.77% since the Federal election on August 2nd, if you’re using the ASX/200 as your proxy. This whole “not having a government thing” is working out well for investors. It turns on the uncertainty of having no-one in charge is better than the certainty of having someone in charge. Maybe that will all change this week, though. To begin with, the jobs data from the U.S. gave the market a positive lead. We’re not sure this matters one little bit.
September 6th, 2010 | Dan Denning | 1 comment | Continued
Print Money and Be Damned!
Japan was the world’s most admired economy in the ’80s. Then it was the world’s most despised economy in the ’90s. By 1995, economists pointed their fingers and laughed – the world’s most admired businessman had lost his left shoe. But now, much of the world is barefoot.
September 6th, 2010 | Bill Bonner | 3 comments | Continued
No Secret to Gold Investing. Just Accumulate.
Since I am known as something of a gold bug, a lot of people write to me about gold, but since I am a paranoid lunatic, I don’t read their letters, mostly because I now call myself Marvelous Macho Grande (MMG), figuring that an established alias could potentially come in handy when the prices of gold, silver and oil…
September 2nd, 2010 | Mogambo Guru | 3 comments | Continued
The Summer the Recovery Went Missing
THE American economy is once again tilting toward danger. Despite an aggressive regimen of treatments from the conventional to the exotic – more than $800 billion in federal spending, and trillions of dollars worth of credit from the Federal Reserve – fears of a second recession are growing…
August 31st, 2010 | Bill Bonner | 0 comments | Continued
Hindenburg Meets Iceberg
Another week in Australia without a new government. Not bad for a Monday. The current Prime Minister is set to meet with three so-called independent members of Parliament to discuss forming a minority government. This gives us a chance to correct an error we made awhile back.”Every election is a sort of advance auction sale of stolen goods,” wrote HL Mencken. We misattributed that quote to Mark Twain, another great American wit.
August 30th, 2010 | Dan Denning | 39 comments | Continued
Turning Against the Stock Market
The Fed has already said it will leave its key interest rate at a very low level for a very long time. The US Treasury has already announced a budget with more than $1 trillion of fiscal stimulus in it. “Cash for clunkers” …first time homebuyer tax credits…TALF – the “recovery” programs have all pretty much run their courses.
August 25th, 2010 | Bill Bonner | 1 comment | Continued
The Dawes Premonition
When a blind mathematician exits the market because an ominous technical omen indicates a crash ahead, what do you make of it? Last week the whole internet was abuzz with the phrase “The Hindenburg Omen.” The “Omen” is actually a convergence of technical and momentum indicators which, when sighted, usually leads to a big market correction. Its creator Jim Miekka has used it to forecast major market tipping points.
August 24th, 2010 | Dan Denning | 18 comments | Continued
Deutschland Uber Alles Grasshoppers
Not only did the grasshoppers make the things that the ants used, the ants took the grasshoppers’ money and lent it back to them, so they could buy more. The grasshoppers were ruining themselves. But the ants were making a mistake too. They were building up capital, but what could they do with it?
August 23rd, 2010 | Bill Bonner | 36 comments | Continued
On the Importance of Vacation
While America’s super-rich congratulate themselves on donating billions to charity, the rest of the country is worse off than ever. Long-term unemployment is rising and millions of Americans are struggling to survive. The gap between rich and poor is wider than ever and the middle class is disappearing.
August 23rd, 2010 | Bill Bonner | 1 comment | Continued
