nobody wants gold! even not for 50 bucks!

folks, i wouldn't believe that s.th. like that is possible! gold is above $1,100 and still nobody wants/needs/knows it?!? is homo sapiens actually soooo stupid?

Mark Dice tries to sell a one ounce pure cold coin for $50 but nobody has a clue how much gold is worth, and nobody wanted it.


what about the gold ever mined? here we go! watch on twitter or put your eyeglasses on and look here:

source: www.DollarDaze.org

folks, you know i'm not a chartist, but if it is true what i see in the picture, then there will not be much more new gold in the future, so (if the demand continues 2 grow) the price wil continue 2 skyrocket! ... let's hope it will be fun for the prepared folks out there :-)

gold + fun? ok, let's move to these nice cartoons :o).

international gold bugs festival

folks, i've promised 2 tell you about the yearly highlight in the life of german goldbugs, the 2-days-long commodities + precious metals fair in munich. well, here we go:

it was sooooo great!

why? and what's there? gold, silver, coin dealers, about 60 junior explorer companies, commodity investment funds, banks, financial publishing houses, very untasty coffee + fast food catering services, presentations on gold + silver + money + inflation + monetary reform + state defaults, financial newsletter writers, commodity analysts, old faces you would never want to meet in a dark city street, conspiracy theorists, book authors, pretty hostesses, security folks, paranoid visitors, me.

well, for me it is always nice to see the faces behind my portfolio companies (there were abt 15 of them here this year!), talk to the CEOs or PR folks abt current + future developments, the markets, god & the universe (do not forget, the most of that companies are micro caps and so is the CEO often the only person willing to stay there 2 days long and talk 2 clueless public for no money at all :-)

of course, few ideas abt my mad moves there:

• i've attended many interesting presentation like the one from ross beaty (the pan american silver guy), james turk (u still remember my former blog post?), thorsten polleit, u.s. silver CEO, prof. bocker, chris powell (GATA), robert rethfeld, ...
• met many fellow paranoid gold bugs + austrian economists + folks i like & know for years + conspiracy theorists .... all of them not less paranoid than the 1st group!
• bought few 1 oz silver coins (somalia's wildlife + 3 australian coins: kookaburra + tiger + ox)
• got 2 silver coins for free (btw, both from my dream investments scorpio mining + 1st majestic silver), took (very) few promotion gifts for my children like pens, caps, candys, rocks containing gold mineralization, other gadgets, ...
• and much more

u are right, i've also decided 2 buy few stocks with a sooooooo interesting story behind and did so already on monday. i'm a chap who takes a decision and sticks 2 his decision, you know?

• great panther resources
• osisko mining
• guayana goldfields (see comment below)
• magma energy
• ...
• ...... folks, pls do not laugh too loud about me, but i've also increased my stake in my currently BIGGEST existing portfolio position AGAIN, no matter how well i know their story as there seems 2 be everything sooo fine: production + cash flow increasing steadily, no need 4 any additional financing, still low price ... if the stock becomes popular in some way or an other, the price will skyrocket as there are not many shares selling sooooo low at the market :-) ... it is again ...
• ...
• scorpio mining !!!
• ...
• cuervo resources (iron ore in peru, 11.11.2009)

any other highlights? yeah! me, trying 2 steal a russian 13 kg gold bar the usual way:

me, don't giving up, trying 2 steal the sooooo shiny canadian 100 kg gold coin using all my unsound mental power (face value CAD 1 m, metal value above CAD 3 m):

pretty gold bugs hungry for gold:

what's next? trying 2 learn david copperfield's trick ... you know, the velvet cloth, putting it over the 100 kg coin, squalling hocus-pocus ... AND THE COIN IS MINE !!!

all-time-high in my portfolio again :)

yabbadabbadoooo!

my portfolio is back @ its all-time-high level again (btw, my stocks have needed 3 weeks to recover from the collapse in the last october days, their 'underlying' gold/silver recovered much sooner and broke out to new golden all-time-highs :-)

bye-bye, fraudulent fiat money system!

ps: i've bought 4 mining stocks and 1 geothermal company today (my ideas from the 2 days spent @ the munich's precious metals show/conference on friday + saturday). will make a new blog post soon. the highlight? me trying to steal the soooo shiny canadian 100 kg gold coin, but now i have to start to collect documents for my pretty tax advisor first and finish the stupid tax payments for 2008, otherwise i will have to keep posting from jail :-(
and i'm hungy too!

btw, i hate taxes!

james turk's great presentation abt gold, money, currencies, economy ...

folks, what we see in stocks, gold, commodities, ... is IMO the fear about USD out there. the folks (americans & foreigners) are trying (at the same time!) to escape from their paper USD assets and to buy some hard assets at any price!

no matter how expensive gold and other commodities are, let's change the dollars into real value (e.g. india's central bank purchased 200 tonnes gold at record price from IMF last week, the second half of IMFs fire sale will prolly go to china soon ...)

no matter how disastrous the current economic data is (record unemployment data, record P/E ratios because of soooooo sad earnings outlook, ...), the folks are buying stocks because a stock represents a piece of company/business and is not only a worth-less promise of u.s. government like a dollar note is (bye-bye fiat currencies!)

=> WE ARE IN THE EARLY PHASE OF AN INFLATIONARY HARD ASSETS RALLY !!!

btw, i do not think the €uro is much better than the USD and IMO it would collapse just few seconds later, because the ECB is not so committed to fight against inflation as the good old german bundesbank was (... do not forget, we germans had twice hyperinflation in the last 100 years, so the bundesbank still remembers the impacts of hyperinflation in some way)

james turk in munich!

well, james turk told yesterday in his great presentation at the munich's precious metals fair (presentation should be available at www.goldmoney.com in approx. 2 weeks in english + german), that the tipping point for the USD is just weeks/months ahead (before summer 2010?) and -if nothing changes- usa is heading to inflation / hyperinflation of deposit accounts like argentina was few years ago! pls do not ask me what deposit-accounts-inflation concrete is as i have no clue abt that, i just would tell you that we can be lucky because we don't have to carry waggons of paper money :o). what a cold comfort, isn't it? the folks in germany in 1920ies or in zimbabwe 2 years ago in their paper-money inflation had 2 carry a lot of paper 2 get anything real ... btw, as far as i know there is no zimbabwean currency at the moment and they use foreign currencies like usd, €uro, rand instead.

folks, i do not wanna destroy your believes abt gold, james turk and the universe, but do u know what such an internationally well known gold bug as james really told? hmmm, should i squeal that? hmmmm. ok, here we go: ... "gold is a lousy investment" ... from his point of view does gold 'just' keep its buying power, it is not an investment vehicle itself. well, james considers gold as money + he recommends strongly to keep our savings in gold/silver (and add to it every month on dollar-averaging-base no matter how high/low the current gold price is) instead of keeping savings in any fiat currency! at least for the last 10 years he is right, just look at the most emphasized chart from his presentation about the yearly change of gold price in major currencies (pls do not overlook the highlighted double digit gains in each paper currency on average!):

GOLD against major currencies, 10 years chart

(source: james turk / goldmoney.com / november 2009)

wanna see also silver? ok, be brave, follow that link :-) ... surprised?

btw, what about the gold/silver backed amero, am€uro, global, golddollar, gulfdinar, goldyuan, goldrubel soon?

of course, do not forget 2 read my big picture outlook for stocks, bonds, gold, commodities here :)

do central banks know where will the gold price go?

folks, there is a lot of discussion about the selling of 200 metric tonnes of IMF's gold to india's central bank this week and what does it mean for the gold market ...

well, i personally would NOT OVERVALUE the fact that a central bank sells/buys gold. why? they are soooo often WRONG on timing!

a) just think about the selling by the swiss central bank (and other european central banks) in the last 2 years ... ALL OF THEM WERE WRONG, as we know the gold price continued to climb up

b) let's laugh together about the BoE and its gold selling orgy in 2001 (?) triggered by gordon brown (that time secretary of finance in UK) => he or more precisely the UK citizens got the LOWEST POSSIBLE price for centuries ... it WAS the market bottom ... lol ... gordon brown's gold dip ...lol... ok folks, do not laugh too loud about gordon, maybe was his 'smart move' somehow motivated ... we do not know to whom he was obliged at that time and who's favor was that historical purchase at the soooo obvious bottom price ...

c) central banks do not sell their gold on me or my neighbor , so in the most cases when one central bank sells gold, so is an another central bank buying gold (e.g. IMF 2 india), just the corrupt mainstream media emphasize the selling side of the coin, of course, crazy gold bugs like me see just the other side ~ central banks are buying gold (india, russia, kazakchstan, petro-arabia, venezuela, sri lanka, china, ...)

d) the selling/buying of central banks is IMO triggered much more politicaly than triggered by some market fundamentals ...

=> do not waste too much time on central banks and their gold selling/buying motivation ... watch physical demand/supply instead ... the mine production is decreasing since few years (peak gold!), the demand is rising esp. the investing folks' demand through ETFs, coins, small bars ... and on top the central banks all over the world print sooooooo much new paper money that we will finally loose the last grain of confidence in it soon...

...

good-bye, you damned fraudulent fiat money system! welcome, next monetary reform on planet earth :-)

just my 2 golden cents :-)

gold? new ALL-TIME-HIGH $1,088

folks, now is the temp. price correction (the last few days) definitely completed, isn't it?

next new ALL-TIME-HIGHs: $1,077 and $1,081 and $1,088

go, gold bugs, go!!!

ps: i'm prolly somehow euphoric now, so pls do not overvalue my current bullish attitude, i also (somehow) know gold isn't a tree which would grow to heaven and of course has the gold price some limitations concerning future growth, but it is soooooo nice to be right on the markets + to make money on precisely placed bets backed by my own believes/estimations ...

pps: good-bye corrupt governments, good-bye small dirty central banks, good-bye you damned fraudulent fiat money system !!!

doubled my initial position in monument mining (MMY) 2day

folks, i've (more than) doubled my initial micro position in monument mining 2day. thx 2 mr. market's crazy shakes last week and thx 2 the panic out there i could buy it even cheaper than the 1st tranche...

i can't imagine why do the ppl sell gold/silver mines 20% below their price 1 week ago 'cos (as for my point of view) the gold mines have been as profitable when 1 oz gold sold at $1,060 as they are today at the same gold price, no matter if the price was 2 or 3 days a little bit lower, isn't? well, it doesn't matter for me, but would you call the markets rational?

well, the monument mining (MMY) stock is +9.68% today, the crazy german folks sold it through the whole day 5-10% below its canadian price, so i'm not gonna 2 complain about the homo sapiens (read comment #2) today :=)

the dear readers of my blog prolly remember cardero resources. why? it's just the next example for german craziness: cardero is -3.93% in germany and +6.45% in canada 2day. any conclusions? yep, here we go:

REMEMBER: buy unpopular & unsexy stocks in germany and sell them (watch out, that's the clou!) in germany if they become modern and everyone's + her neighbor's darling again :o))

ps: monument mining (MMY) will attend munich's precious metals fair next friday & saturday => let's talk 2 company management abt all coming up projects/developments there ...

pps: where come the fresh investment money from? hmmmmmm, it's a secret in general but in particular i can only tweet you it's my next year's pocket-money my wife gives me once a month and she doesn't perceived i've stolen it from our bank account this year! ... btw, it is ONLY €160 (an unheard of brassiness, you agree?) ... "and do not waste them on your stupid stocks again, you damned money-wasting gorilla moron, you! i hate you!" ... oh, my dear, what did i do in my former life i got such a sorrowful karma this time? LOL

addendum november 4, 2009 => monument monumental!
folks, that investment stuff is sooooo easy!

these kind monument mining guys have waited till i could buy my full line on that stock with my 2nd tranche a day or two ago and today is the stock +36.67% why? who cares? ... just kidding ...

well, they've announced today they've produced their first gold in malaysia, which they said they will start to produce in october in their former investors' message on September 16, 2009 ... prolly have the homo sapiens financialis out there forgot about that and sold that stock soooooo cheap for soooo long, unbelievable ... [btw, i've got that stock @ approx CAD0.3, the current price is CAD0.41 and the all-time-high was CAD1.2 => there is still a lot off upside potential there, isn't it? and on top they do generate cash-flow from their gold production now! i still can't understand why nobody liked that company ...]

ps: next explorer out of my portfolio moved to the (a little bit boring) producer division :-(

pps: freiheit, i hope your investment switched into green ink area today as well + thX 4 your $$ information above again