Sunday, November 8, 2009

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

addendum december 2012: outlook 2013 - 2015, enjoy :-)
James Turk's Outlook for Gold for 2013 to 2015


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!)

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 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 / / november 2009)

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

addendum, dec 13, 2009 ~ precious metals calculator :-)

ohhhhhh, what a useful + funny thing at james' website! did u asked already yourself like 'hell, how much gold and/or SILVER can i buy with the lousy 50 €uros which my wife didn't find in my pockets yesterday?' of course u did, didn't u? well, there is a big, big, big help 4 folks like you and me on the website! the online paper-metal-translating-machine ....

ps: sorry forexer, the singapore currency (dollar?) isn't covered yet, but u could ask 4 enhancement, i think :o)

pps: what's the answer 2 my question 2day?
With €50.00 you can buy 1.985 goldgrams at a buy rate of €25.1874/gg (including our fee). We apply a 2.74% fee on top of the Gold spot price of €24.5156/gg.

addendum, june 4, 2011:
folks, it's weekend, u know?

well, finally i have some time to bother my mouse in order to click wildly from webpage 2 webpage, from story 2 story, from interview 2 interview ... great!

king world news seems to be my No. 1 today, wanna listen 9 minutes to james turk's audio explanation of recent gold/silver price correction and his outlook for the gold/silver markets? here we go:

James Turk


jaro gruber said...

folks, just got the presentation from james turk => 10 years gold chart added :-)

Anonymous said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


jaro gruber said...

hello lucy,

thx 4 visiting my blog :-)

if you like james turk's views, pls visit my newest blog post abt his presentation few days ago at a gold bugs club meeting in munich:

good luck with your own trading :-),