gold chat, page-187

Country Writer,

You seem to be very defensive and in siege mode.

A lot of people here have asked me the same thing and I'll repeat it for the 5000th time.

Bubbles fascinate me, I was debating until a couple of years ago until it crashed with the peak oilers, who assured me that I was wrong and they were right, and that oil was definitely headed to the moon. Oil stocks were headed South while oil was headed North, a similar situation with gold ATM.

The world wouldn't function without debt, it's a matter of getting the balance right, problem is too many gung ho punters for the last few years have got too much debt, it's not brain surgery. I never went to university thank goodness.

You, like many here, probably find may my posts a tad arrogant, but it's more like schadenfreude. Gold's had it's day in the Sun IMO, and I while I posted that it was grossly overbought at $1100, I copped plenty of flak from the goldbugs as it made its way to $1920.

Gold's priced in a lot of inflation, if it doesn't eventuate, you know what the result's gonna be, right?

I have got my money where my mouth is, the other side of the coin is that while gold stagnates, global shares will advance, and there is some evidence that that's already the case, S&P500 up 12%, gold up 2% YTD. For the first time in 10 years the DJIA is ahead of gold YTD. I've got a little more exposure to global shares than normal ATM.

Bubbles often overshoot the mark on the way up and undershoot on the way down, but whether this is the case this time remains to be seen.

Why do you respond to me in particular? Because I'm a lightning rod for the goldbugs, paranoia's rife, they're right and everyone else is wrong, I'd say it's a cult damn near, and many overexposed goldbugs are taking the same risks as the ones in 1979.