What is /biz/'s thoughts on Mike Maloney and his YouTube series, particularly this video?
Is he just a fearmongering Gold/Silver fag or is he onto something?
He's saying the same thing Schiff, Bonner, Celente, Sinclair and the rest are saying. 2008 to present is a phony recovery. Stocks are grossly over valued thanks to the FED pumping the equity market full of phony money. This bubble is far far greater than 01 and 08 combined and is going to crash harder. When it does, everyone is going to rush to PMs as a safe haven the same way they always do.
The difference is that China, Russia and India are preparing themselves for the collapse of the US dollar and buying up huge amounts of gold. Saudi Arabia is really really fucking pissed about the Iran deal and ready to un-peg from the USD which will see the end of the petrodollar.
There's not nearly as much physical gold above ground as paper suggests and once that's realised, there will be a run on gold. Fiat currency always fails, the FED is out of tools to prop up this bubble, the world knows the US is bankrupt and every 80 years we see a major reset.
Or you can run the /biz/ line of thinking: stocks never crash, you can print infinite money, buy ethereum, buy the dip, go long on oil, oil is going to drop to $10 etc etc
This is pretty much what ive been hearing too, and i'm yet to find someone who can give me a solid argument as to why this isnt true, and why the market wont crash.
Although i believe that leaving my money (1.2m) will still turn me a healthy profit in the LONG term, i dont see why i should miss out on this opportunity to potentially triple my money.
Would love to hear a good argument as to why i should stay in the market. Anyone got one?
If it were all to collapse then your gold or whatever would be useless anyway, or that's what they say.
Really it's a much safer bet to stick with it all because a zombie apocalypse is just not likely at all.
"It'll be different this time".
Yeah, THIS time gold will be useless. THIS time the entire world, in unison, will decide all of a sudden gold isn't worth anything.
For 6000 years gold has been a sign or store of wealth and it won't change in the next two years. Buy gold if you want to keep your money, leave it as numbers on a screen if you want to see it evaporate.
I come to biz from time to time and even though it's slow I haven't seen many metals threads.
I love the jew hats the bankers are wearing.
I love watching and listening to Peter 5000/oz Schiff but he needs to tone down on the doomsday predictions.
I recently bought a small amount of silver and got delivery because I've always been fascinated with seeing and touching elements, not just precious metals. I also feel like sometimes virtual or paper wealth tends to lack the impact it should on you. Like paying for your shopping with a card instead of cash.
I'm starting to get a sense of the PM coin community and I feel like it's not the best method of investing because of the premium over spot for just stamping random shit on a coin. I'm not the slightest bit interested in cool designs or rare editions either.
>Peter needs to tone down? You've got Jim "50,000/oz" Sinclair and Gerald Celente telling people to run for the hills.
He's got a sales pitch, but he's better than the other mopes.
He's looking pretty worn out these days though. The bear trend is dragging him down.
Gold was a better store of wealth before stock markets.
Gold is a reasonable store of wealth if you're already wealthy beyond the insured deposit limit and you have the means to store it or can pay someone else to do so.
Obviously gold is always being dug out of the ground and it doesn't pay an income so all things being equal it will slowly lose value versus other investments.
If a video has "Who Owns The Federal Reserve?" in its title, it's a good sign to not take it seriously.
>He's saying the same thing Schiff, Bonner, Celente, Sinclair and the rest are saying. 2008 to present is a phony recovery. Stocks are grossly over valued thanks to the FED pumping the equity market full of phony money. This bubble is far far greater than 01 and 08 combined and is going to crash harder. When it does, everyone is going to rush to PMs as a safe haven the same way they always do.
Modern economies are based around corporate securities which are traded on financial markets, not physical gold being bartered and exchanged for goods/services. Precious metals are more so "phony money" than paper is.
>The difference is that China, Russia and India are preparing themselves for the collapse of the US dollar and buying up huge amounts of gold. Saudi Arabia is really really fucking pissed about the Iran deal and ready to un-peg from the USD which will see the end of the petrodollar.
The US posses monetary hegemony. The US dollar is still just as strong as it ever has been.
Putin is literally a /pol/tard conspiracy theorist who is destroying his economy and China is ruled by incompetent morons who will destroy themselves with their corruption as well. The BRICS aren't a serious contender to US global hegemony.
>There's not nearly as much physical gold above ground as paper suggests and once that's realised, there will be a run on gold. Fiat currency always fails, the FED is out of tools to prop up this bubble, the world knows the US is bankrupt and every 80 years we see a major reset.
Of course there is more money in circulation than physical gold, why would anyone think otherwise? Limiting money to a physical gold supply would be disastrous for business to smoothly function.
Also the US can't be bankrupt when it controls the supply of what its debt is payable in.
I'm convinced most goldbugs are actually secretly Marxists. Marx was a goldbug because of what he called the circuit of capital: M→C . . . P . . . C′→M′
capital advanced (M→C)
monetary realization (C′→M′)
Marx noticed gold producers have no realization moment, like other commodity producers have to, because gold is already immediately realized abstract labour which functions as money and is value itself in its most liquid form.
Only money not in circulation serves as a store of value and the value of the general money commodity, not its supply, determines absolute prices.
Since most capitalist exchange is conducted with credit money which results in a separation in time between purchase and payment the purchasing power of the form of money used will most likely change between purchase and payment. This is the reason that the form of money used for purchase is not generally satisfactory for payment. Marx thought that the circuit of capital was what asserted the need for commodity money under capitalism but in the function of exchange almost anything can serve as money.
>Of course there is more money in circulation than physical gold, why would anyone think otherwise?
I think he meant gold future contracts, which is true, there's 50 times more gold in paper than there is for viable delivery and the years long backwardation doesn't help at all.
Anyway, smart investors would jump in a PM rally and leave when it stops or when they're comfortable with their gains, right now there's literally no sense for getting into stocks or bonds since the media has officially said we're in a bear market.
I like his videos where he talks with other people, and where he's forced to tone down his precious metals shilling or get rid of it totally.
Watched this video yesterday, coincidentally and I pretty much agree with much of what Harry Dent said about deflation and demographics:
You never listen to someone who is trying to sell you something. Ever.
The best people to listen to are those that don't directly have a fucking gold dealership trying to sell your overpriced "collector" gold pieces and in the process try to fuck you in the arse.
Maloney was saying buy at 40 Silver and 1900 Gold. A lot of people were burned by this guy on Jewtube, don't be fooled.
Buy Silver at $9-$10 and buy Gold at $800-$950
>I'm starting to get a sense of the PM coin community and I feel like it's not the best method of investing because of the premium over spot for just stamping random shit on a coin.
Numismatic collectors are entirely different though. To most of the people I know who hold physical it's not looked at as investing but more of an insurance policy. A counter-weight to an otherwise normal portfolio and investment approach.
There is some truth to having coins from a mint vs generic rounds or bars. I inherited a lot of both and had a much easier time (and got a higher premium) selling gold eagles vs gold bars. Same with silver maples, eagles vs generic rounds and bars.
I still keep some of each just because I they're cool to have.
>If Gold is "sooooooo good" why are they exchanging it for worthless fiat dollars instead of just holding it because it'll obviously be the future of money™?
because he's running a business. he can't pay his employees and his business partners and his taxes in gold flakes. doesn't mean he doesn't invest in gold with the profits he makes.
The whole video is gloom and doom shillish. Technically what Harry Dent said isn't wrong but QE4 could start tomorrow inflate everything even higher. There's no way to predict that. If you take that advice you could very well be sitting in cash while the dow shoots back up.
>Technically what Harry Dent said isn't wrong but QE4 could start tomorrow inflate everything even higher
He technically said that too? I dont know whats the issue here.
>The whole video is gloom and doom shillish
Its a Mike Maloney video. Duh
I take my dose of bear and my dose of bull baby
Because gold and silver are still priced in US dollars, just like any other commodity.
Precious metals to me is purely an inflation hedge, I don't jerk off to the sight of silver or gold.
Depends on the coin.
For example, Roosevelt Silver dimes trade very close to spot (a little higher), but the older Mercury dimes trade much higher than spot.
Most gold coins however trade very close to spot. Even older Egyptian stuff, ancient Persian coins, etc.
Some US gold coins, like Indian head gold coins, trade way higher than spot.
Depends on the coin. I can quote you Buy/Sell on a coin if you tell me the coin
For reference, my spread on maple leaf is higher because maple leaf is MUCH harder to sell.
No one wants maple leaf, so I can gouge the sellers, since I'm the only buyer on the face of the earth.
Don't buy maple leaf, it's shit
Maybe. I'm not sure even Canadians want Maple leaf.
There is 2 categories of bullion:
USA bullion and NOT USA bullion.
Even if you are in Canada, Canadian bullion still falls under NOT USA bullion and therefore, trash.
Craigslist, meet someone, drive to the police station, bring a gun.
If you live in USA MA/NH I would be happy to sell/buy
Bullion dude speaks the truth. Silver Eagle rounds will hold their premium, probably appreciate more than generic silver since they've been blessed by the powers almighty (recognized to be legal tender). It is kind of mindless though, you'll still have to pay capital gains tax on them, but the premium isn't really lost when purchasing them.
I assume you run a bullion store? Did you encounter any crazy traffic from the '08 crisis? Were you really selling silver rounds for ~$10 each during that period?
How about libertads? I didn't realize there was such a divide between US and non US metals.
>eagles are US currency
Yes but so are maple leafs, libertads, every country has a silver and gold official currency. It's not worth the currency value, it's worth is that it's less likely to be counterfeit than some random round.
>Craigslist, meet someone, drive to the police station, bring a gun.
>If you live in USA MA/NH I would be happy to sell/buy
somewhat interested but
>seemed risky/dangerous to me unless you strap up like the wild west.
and MA so no gun :(
Have the police ever come out to talk to you? Someone (you?) posted in a different thread about actually going into the police station to do the deal, is this generally considered acceptable?
I've normally ordered online but its kind of a hassle signing for the package / picking it up at the post office and all that, but all the physical shops nearby are "CASH 4 GOLD" which is skeevy, I'd be afraid of counterfeits.
No danger. No risk.
buy a .22 just in case.
No gun? Fine.
I'm showing up first. I'm not going anywhere until I see you leave. I'm wearing a vest, so you better get me in the head.
>Have the police ever come out to talk to you?
I pay them every christmas. Put their kids through college. You'll have 4 guns on you as soon as you drive up, in the woods somewhere
All the time.
Cash for briefcases full of gold.
Briefcases full of cash for briefcases full of gold.
Lowest spreads around. I'll take payment in real estate, boats, cars, private jets, whatever
Should I just stick to U.S silver and eat the higher premium? I saw that silver Maples were cheaper and figured they were about as good as a store of wealth and could still be traded here.
Well I've said it before but the time to worry is when major investment firms start saying the same things as Schiff, Maloney and other bears.
Latest MLC webinar in Straya (since the start of the greek crisis correction in July) has shown their portfolio positioning preparing for the following scenarios:
- stagnation, stagflation
- inflationary shock
- global deflation
- hard chinese landing
- extended quantitative easing
- runaway inflation
- 3 speed global economy
..and a few others.