eric sprott

a great video with eric sprott, the canadian billionaire + investor + silver guru. well, eric sprott was the key speaker at the precious metals fair in munich last year. hell, hell, hell, eric makes  all that investment stuff easy: gold + silver + don't bother what other people say :-)

Speaking at the Casey Research Gold and Resource Summit (February 2011), Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left." 

and yes, if you want to read / hear opinions of more austrian economist, just go to my link library  about libertarian proposals to solve the current debt crisis and to build a sustainable and prosporous economy ;o)

addendum december 2014 (http://www.youtube.com/watch?v=JmerJjUZ0Uk)

eof

financial markets? paper game casino! (DJIA -9% within few minutes!)

just 3 monkeys? LOL (source: jessescrossroadscafe.blogspot.com)

its just crazy, isnt it? DJIA -9% intraday, than closed at -3% and gold is up like crazy  ... hmmm, is the end of the financial ponzi scheme of paper currencies coming closer and closer and closer to its end? well, we will see it soon 

the prices of wheat, corn, oil, gas, etc are falling down like if there were no need 4 food + commodities 2morrow => ???

... just gold is up ... hell, if there would be more money on my margin account i would go much much more LONG COMMODITIES ... well, the current financial markets are IMHO to a degree of 90% just a paper casino without any relation 2 real value out there ... just imagine, one of the biggest companies on earth, procter & gamble (its all abt GAMBLING, u see?) with current market capitalization of $176,45 billion was down 40% intraday [folks, thats more than 72 billion usd!] due 2 one citibank's trader's error ~ he prolly inserted sell 16b instead of 16m ~ it was a selling of billions instead of millions ~ btw, that guy will become famous soon ... still remember the at that time 28 years old nick leeson who has broken the 100+ years old english barings bank (UK's oldest investment bank) few years ago? and what abt jérôme kerviel (societe generale) or abt the LTCM or amaranth defaults? well, procter & gamble closed later without any major change as the 4th best stock in DJIA at -2.27% (the best stock today was down -1.6%)

hell, we are freaking doomed! lets dump paper money ASAP and lets install a relationship between money and real value again!! welcome, gold & silver backed currency ...

as always,

just my 2 golden cents 

btw, got enough gold + silver already?

folks, there was such a great discussion on the InformedTrades website abt this topic, pls feel free 2 read the comments or even better participate there :-)

gold price in 2013? hmmm, maybe $8,000? (james turk)

addendum december 2012: outlook 2013 - 2015, enjoy :-)

~~~

james turk + me

every gold bug + every gold opponent knows we can't eat gold, of course not ... buuuut we could drink the wine from the gold bar case ... lol

james turk + peter boehringer

what abt a gold price of $8,000 in 2013/2014 and a dow-gold-ratio of 1 : 1? just crazy fantasy, you think? well, that's the number james turk (founder + CEO of www.goldmoney.com) gave barron's in an interview in 2003, i think (i'm too lazy to google the web right know 2 provide a link, so pls just believe it or not ~ it's up 2 u ... LOL). well, james repeated that yesterday in his great presentation on the germany's gold bugs club (DEG) meeting in one of the oldest and prolly the most famous munich's pub/restaurant hofbräuhaus yesterday. he thinks also abt 1 oz gold = $20,000 = DJIA if the FED continues to print money like crazy :)

btw, what's my guess? i think 1 oz gold could climb up to $5,000 within few years, of course only if the poor USD survives that long! why? well, there is already the american buffalo 1 oz gold coin with face value $50 (and a 1 oz silver 'american eagle' coin with the face value of $1) out there, you know? got it? at 1oz gold = $5,000 we just have to remove two zeros (hell, that's easy!) and we have the new gold price in new dollars $50. got it again? 1 oz gold = $20 ... few years later ... $35 ... few years later ... $50 ... damn! that's what i call continuity in fiscal policies!

any other ideas/topics?

• gap between u.s. government spending and u.s. tax revenue getting bigger and bigger (exponential deficits!)
• usa + europe are heading 2 argentina like hyper-inflation of deposit accounts
• fear index
• gold-silver-ratio
• dow-gold-ratio (read my former blog post for more information here)
• accumulate gold + silver instead of speculate with them (unless you're a gifted daytrader or the like)
• gold + silver is still cheap + undervalued
• bavarian food + bavarian beer + pretzels + much more :-)

folks, i will prolly enhance few details later, so let's close the blog post for now with 2 james turk quotes + few pics, ok?

1. hope 4 the best, plan 4 the worst
2. buy tangible assets instead of financial assets

peter boehringer (DEG chairman) speaking:

happy gold bugs #1
happy gold bugs #2
happy gold bugs #3
btw, that's me + my sister + her boyfriend (left 2 right), you know?

addendum june 27, 2010:

eof

armageddon 4 commodity bugs ;o(

ugly days, ugly guys!

hell, the 1st crashy day for commodities this year, let's call that armageddon 4 commodity bugs ;o(

well, there were many of them last year (approx 10 days, i think), read abt one of these ugly days here ...

what's my idea 4 this blog post? hmmm, i'm going to count these nasty money losing days in 2010, so in december there will be some number out there :-). of course, it will be subjective and maybe i will also miss few of them (esp. when on holidays!), but i think it will help me 2 track + understand the markets, so what?

well, i plan to update that blog post regularly and maybe even post few comments later abt some specific issues on some of the crashy days like 2day, ok?

btw, i believe that we are in a early phase of hyper-inflationary rally, so my portfolio is gold + silver + commodities + these sectors' stocks long only, of course :-)

few of 2day's 'highlights' :o(

• my portfolio -3.06%
• corn -7.10%
• wheat -7.63%
• gold -2.11%
• silver -2.36%
• oil (wti) -2.41%
• lead 5.53%
• zinc -3.94%
• DJIA -0.34%
• nasdaq -1.30%
• ...
• btw, yesterday was orange juice -11%. crazy, isn't it? well, the most commodities rallied the last few weeks, that's prolly the overreaction into the another direction :-). do you still remember our homo sapiens financialis?

hell, is the world going 2 break apart? let's check the news, if any, which could cause such a downturn ,,,,

armageddon #2, 01/20/2010: yesterday an all-time-high, 2day the 2nd armageddon! well, we never know what's next! hell, maybe that's also one of the reasons why i like the financial markets so much, isn't it? it would be boring if everything was easy

silver and lead -5%, gold -2.5%, agriculture approx -2%, oil -2.5% .... the most of my stocks are down 3% - 8%, my daily 'performance' is -2.91% ... prolly just thx 2 my biggest single position scorpio mining, which is +0.0% today. well, my guess which i have posted few days ago that the most stupid folks sold their scorpio shares soooo cheap already is prolly true, as there was not much volume 2day ...

any cold comfort? yep! i could move the next company from my gold bugs fair watch list into my portfolio as the soooo low limit was hit today - welcome, moly mines (australia ~ molybdenum, copper, iron ore), welcome!

armageddon #3, 01/21/2010: no comments
armageddon #4, 01/26/2010: silver -4%
armageddon #5, 01/27/2010: silver -2.5%, natural gas -3.5%, zinc -5.07% ... all exchange traded commodities despite orange juice (+1.5%) are down, down, down ... so is my portfolio

.... folks, i think i have to stop that 'counter' as there are too many armageddons out there ... or find a new definition for my pain facing all that losses

armageddon #6, 02/04/2010: commodities collapsed on a much stronger usd (e.g. +1.37% against its paper buddy eur):silver -6.66%; gold -3.92%, DJIA -2.61%, my portfolio -3.70%,wti oil -5.53%, .copper -3.18%, ... many of my gold/silver companies (even the industry leaders) are down between 5% (barrick gold) and 12% (hecla miniong), it's just crazy :o(

btw, if i would have any money now, i would BUY all that fallen angels like 1st majestic silver, impact silver, hecla mining, orko silver etc. ... well, i've bought cardero resource corp. + oroco resource corp quite cheap in the last 2 days (btw, i could get cardero 5% cheaper) as i had some remaining money at my trading account and couldn't believe why do the folks sell cardero much, much, much cheaper than their recently received cash reserves and why do the folks sell oroco @ CAD 0.22 when the insiders/managers paid CAD 0.25 two weeks ago => ???

armageddon 4 gold/silver bulls (like me)

oh, my god!

gold -2.09%
silver -3.89%
DJIA -0.75%
my portfolio -4.62%

well, the profits of the last 2 days were swept away today. c'est la vie! anyway, i wanna hold my gold/silver stocks the next 3-4 years (till DJIA costs about 1-3 oz gold; currently 1 DJIA = 9 oz Au)

PPT still alive!

folks, did you notice the hard work of the plunge protection team yesterday?

it's unbelievable! we were 30 minutes before the weekend and before incalculable overnight-risks, the DJIA have rapidly broken its multi-years-lows to the downside, the employment market data becomes worse from 1 week to the next, the horror news from the banking sector continues floating the markets like if there were some monstrous assembly line behind ... and what happened next? well, the DJIA futures shoot up as if that was the last buying opportunity for the next 5 years ;-)). DJIA not just 'corrected' it's huuuuge daily losses, it also closed @ +0.49% and moved also other market indexes into the winning range, just for the nasdaq100 came that crazy buying rally a little bit too late, nasdaq100 closed @ -0.91% yesterday

bravo PPT! congratulations! you could 'rescue' the wall street (& thus the whole financial world) a week longer ...

crazy monday! in my opinion was mr. crash out there TODAY (the final sell-off?) and the markets could start their slow recovery tomorrow :o))

oh, my god! what's a day on the financial markets today!

after the announced bailout for financial institutions on the weekend (volume $700 billion) reacted the markets like crazy. they liked that huge bailout. gold + silver fell sharply, in that time have been the european stock markets in low negative numbers (max. for small cap stocks -3%), usd rose against eur like if there were no dollars tomorrow (+1.44%) ... but why? supply of dollars was increased significantly AND the dollar didn't fell like a stone from the currency heaven? ... unfortunately, in the short term are the fundamentals meaningless :-)). that's trading, that's life! btw, all commodities were hit hardly: oil -5%, corn -6%, silver -3%, lead -7%., ... why?

in the late market hours decided the u.s. congress not to accept the proposed bailout solution and then was mr. crash out there: DJIA fell more than 500 points (from nearly 11.000 to 10.397), all other indices didn't wait too long and started their own crash! the dow fell 777 points – its worse day ever! for the S&P, it was the worse day since ’87 => DJIA -6.98%, S&P500 -8.79%, nasdaq100 -10.52%,). all of them 'led' by financial institutions (wachovia -81.8%, sovereign bancorp -72.16%, national city corp -63.34%, fifth third bancorp -43.63%, ... and there was just 1 (= ONE) company in S&P500 with positive result: Campbell Soup Co. +0.32% btw, are u hungry? what's about a soup?)

what about my own trading? i had 2 limit orders in the market and bought the german technology index at 699 euros (at that time about -3%), toronto60 @ 699.9 cad. later i've decided to buy silver @ 13.04 after i could recognize that the sell-off in gold + silver probably) ended as there was a strong price increase. after dinner in the city with a former colleague of mine i couldn't believe my eyes: all these red colors and double digit losses ...

my trading account lost 'just' 150 euros, than i started to trade the late recovery of DJIA and won about 150 euros :-). after that i continued to trade DJIA and lost about 60 euros. i will post all the details about my 20 trades tomorrow, PROMISED :o)