Goldtent TA Paradise

Trader Dan Gold COTs and More

1. Cashcosts says:

   May 2, 2016 - 10:29 am at 10:29 am

   “I have said it before and will say so again – you own gold for protection/insurance against monetary disorder and in times of economic uncertainty. It provides peace of mind. One does not cheer on the burning down of their own home in order to collect on the insurance.”

   I like to read what Dan says but I don’t really understand why he says this repeatedly. Why does the house have to burn down for gold to go higher? It went from 300 to 1900 to 1050 to 1300 and the house didn’t burn down.

   • BobbyC says:

     May 2, 2016 - 11:14 am at 11:14 am

     I think it’s a reaction to those ‘cou rouge’ folk who permanently occupy the permabull side of the fence. But, also, whilst the house is not literally burning down, it is falling into an ever-grave state of disrepair and gold’s rise reflects this. So, we shouldn’t be happy that our investment in gold is rising in dollar terms because it means that we have greater economic uncertainty and more monetary disorder as reflected in NIR Policy and permanent QE.

     The same reasoning is only slightly relevant to mining stocks.

   • Fullgoldcrown says:

     May 2, 2016 - 11:17 am at 11:17 am

     His point is there is a subset of Goldbugs who relish the thought of becoming filthy rich while the 99.9999%

     are crushed in Financial armeggedon

     • BobbyC says:

       May 2, 2016 - 11:37 am at 11:37 am

       Is that right? There are people (outside of Goldman Sachs et al) who take positive joy out of most people being destitute while they get filthy rich?