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Host: "so people should beware and understand that this [gold] is a commodity"

Tom: "absolutely"... "gold is not a safe haven its correlated with the market"

 

Jeezus - the WORLDS number one gold timer doesn't understand that gold is money :blink:

 

As was mentioned by someone, ' all the excellent traders are having a good time in Bahamas'. He is just another trader who thinks he knows more than everyone else.

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Big Tommy O'Brien still holding out for 1075 USD gold

 

http://www.cnbc.com/id/15840232?video=1588378975&play=1

 

3mins 20

 

Gold getting competition from dollar and real estate. Buy a place for 100k, mortgage of 500 dollars per month rent it out for 600.

 

- Good luck finding solvent and reliable tennants Tommy! Also make sure you don't incur 1000k in fees and repairs or you are at zero!

 

4mins 20

 

Host: "so people should beware and understand that this [gold] is a commodity"

Tom: "absolutely"... "gold is not a safe haven its correlated with the market"

 

Jeezus - the WORLDS number one gold timer doesn't understand that gold is money :blink:

 

Thanks for that :D

IMO the problem is that there are two basic paradigms, one paper currency based, the other gold based. It depends on what you choose as your reference. If you think the US$ is money, and measure everything with it, IMO you are blind to certain realities.

Having switched paradigm I now think I see things more clearly, and people like Tom O'Brien appear blinkered and ignorant.

A lot of time and currency has gone into promoting the paperbug paradigm, so it's hardly surprising so many have been sold on it.

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Sorta DOUBLE POST

 

Congrats to Pixel8r for this massive call back in the days!

 

http://gold.approximity.com/gold-silver_watch.html

Gold_USD_Pixel8r.png

Pixel8r is a perma-bull. This isn't really a criticism as if you'd bought gold anywhere along the way in the past few years you'd have done well. But this perma-bullishness can give rise to a mixed bag when it comes to calling the market [the below chart from April]. Hey gf, I notice neither of these charts are logarithmic.....

 

http://www.greenenergyinvestors.com/index....st&p=161369

 

I expect gold to continue on it's breakout of the inverse head and shoulders to a target of $1350-$1400 over the next few months.

 

Pixel8rs-Lines-15.jpg

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so no $800 or $600 gold then? not for a few years/decades anyway. :D

Who knows. Gold will probably do the most unpredictable thing in the near term. It could revisit 3 digits, but it becomes more unlikely with the passage of time. In the long term it should continue to steadily strengthen. Personally, I don't see a parabolic break to the upside, just a continuation of a steady strengthening against the world's reserve currency...... unless we get deleveraging round 2 for some temporary excitement.

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