dualstow wrote: ↑Mon Oct 28, 2024 12:24 pm
Sorry, what is the Bernanke quote?
From memory:
Ron Paul: do you consider gold to be money?
Ben bernanke: no. I mean it’s an asset. Would you consider treasury bills to be money?
(Later)
Ron Paul: why don’t you hold diamonds then?
Ben bernanke: … it’s tradition
1) Focus your Energy 2) Guard your Time 3) Train your Mind 4) Train your Body 5) Think for Yourself 6) Curate your Friends 7) Curate your Environment 8) Keep your Promises 9) Stay Cheerful & Constructive 10) Upgrade the World
Heh, my memory of the conversation was actually not bad!
1) Focus your Energy 2) Guard your Time 3) Train your Mind 4) Train your Body 5) Think for Yourself 6) Curate your Friends 7) Curate your Environment 8) Keep your Promises 9) Stay Cheerful & Constructive 10) Upgrade the World
ochotona wrote: ↑Thu Oct 31, 2024 10:08 am
When gold is on TikTok, time to rebalance
I generally agree, but with our debt situation I feel like its still got room to move.
Won't break my heart if it pulls back $1,000. I'd just buy more. Long term, in this country with both Trump and Harris spending plans, gold is going to become a very important asset.
I think we have a buyable dip in gold. The medium and long term prospect is more US debt, tariffs causing inflation, jawboning the short term interest rates down (or pushing Powell out and getting an inflation dove in who will tend to lower rates), all of this means a financial repression regime... interest rates lower than the rate of inflation. It's very bullish for gold over the next few years, not a great environment for cash savers, of course.
I have a few $ given to me in my Roth Miners account by Fidelity's fully paid security lending program... someone was shorting one of my stocks, and borrowed my shares... they are making out on their trade, but my time scale is different so I'm going to town with my $17 and buying more.
ochotona wrote: ↑Wed Nov 06, 2024 8:20 am
I think we have a buyable dip in gold. The medium and long term prospect is more US debt, tariffs causing inflation, jawboning the short term interest rates down (or pushing Powell out and getting an inflation dove in who will tend to lower rates), all of this means a financial repression regime... interest rates lower than the rate of inflation. It's very bullish for gold over the next few years, not a great environment for cash savers, of course.
I have a few $ given to me in my Roth Miners account by Fidelity's fully paid security lending program... someone was shorting one of my stocks, and borrowed my shares... they are making out on their trade, but my time scale is different so I'm going to town with my $17 and buying more.
What has been the short-term reaction of gold to the election results?
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
ochotona wrote: ↑Wed Nov 06, 2024 8:20 am
I think we have a buyable dip in gold. The medium and long term prospect is more US debt, tariffs causing inflation, jawboning the short term interest rates down (or pushing Powell out and getting an inflation dove in who will tend to lower rates), all of this means a financial repression regime... interest rates lower than the rate of inflation. It's very bullish for gold over the next few years, not a great environment for cash savers, of course.
I've given up on trying to figure out what really drives the price of gold, ocho. It's 15% of our portfolio but I try not to have expectations. For sure Trump will pressure whoever is the Fed Chair to lower short-term rates but I can't see investors accepting lower bonds yields in general if inflation expectations are high. It's obviously super early but bond yields are up across the board today.