Mark McHugh

Posts Tagged ‘Gold’

Giant Leaps

In Gold, NASA, Silver on Sunday, July 26, 2009 at 9:09 pm

A hundred years from now, someone may ask why America was allowed to run up astronomical deficits. I think a large part of the answer may lay in a small step…As putting a man on the moon became a reality; the US dollar became a nebulous concept, backed primarily by the implied threat of technical superiority. It’s been forty years…and I’m still not sure if we are falling or flying.


Caveat:

I once heard that, “Genius connects the seemingly unconnected“, but my wife insists I remind you that psychotics do this as well.

I’m not sure whether or not Neil Armstrong and Buzz Aldrin actually walked on the Moon July 20, 1969.  What I will say with absolute certainty is that either way, the world got swindled, unless you consider Tang® and Tempur-pedic® mattresses “payment in full”. What NASA represents to me is the beginning of a national tradition of white-collar welfare that continues to this very day (Wall St. – I’m looking in your direction…..).

more……. Read the rest of this entry »

If you’re thinking about buying Gold now – Think again (please)

In Gold, stocks finance on Thursday, May 21, 2009 at 11:03 pm

The answers to life’s problems aren’t at the bottom of a bottle, they’re on TV!”

~Homer Simpson

I guess it was morbid curiosity that made me put on CNBC  for the first time in a couple months (and that’s all I got to say about that).

All day, between Wonder Hange commercials, the forbidden word was uttered repeatedly.  Gold. If I were more ambitious, I’d create a montage of people saying the word gold on CNBC Today.  But it could never compare to MJK’s four minute plus montage of Homer Simpson saying, “D’oh”, so whats really the point?  Well, the point is the bobbleheads were so busy saying the forbidden word that I’m surprised no one collapsed from lack of oxygen. Gold gold gold GOLD gold………get the picture.

Gold was up about 17 bucks, while the dollar, stocks and bonds retreated. Of course normally, when gold’s up 17 bucks my favorite morons forget to mention it.  They treat gold like some sideshow curiosity that was once considered money….go figure…. But from time to time, they actually suggest that you should buy gold.  And if you’re paying attention, you know that is the time you should sell gold.

Of course when I say “gold”, I mean make-believe paper and pixel gold, not shiny yellow metal.  There’s really no connection between the two.  The “prices” that you trade on are figments of  imagination; no more real than the $35 “price” claimed by the Bretton Woods system.

The losses that you can suffer listening to the quacks on TV, however, are quite real……

more…………. Read the rest of this entry »

How Hot is Gold?

In Open Thread on Saturday, February 21, 2009 at 2:31 am

It depends on where you’re from.  Here’s a chart of gold’s 6-months performance in the world’s most popular currencies:

gold-currency-captureChart compiled from data at Kitco.com

The performance of gold has been anemic in terms of US Dollars when compared to the rest of the world, but it looks amazing compared to the 40% shellacking stocks have taken in the last six months.  However, the question  is always what’s going to happen next.

more………

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Squashing Gold Bugs

In Open Thread on Sunday, February 15, 2009 at 6:58 pm

I’m an unapologetic conspiracy theorist.  I believe the people in charge would rather try to manipulating public sentiment(and markets),  than face reality (and justice).  I had reserved judgment on the new administration (which looked a lot like the old administration), until last week.  First we had last Thursday’s (Feb 05)  market likes the idea of abandoning mark to market rally.  Then, we had Tuesday’s Market hates Geithner fade (it was more than sell the news).  This Thursday (feb 12), we had a market likes helping homeowners rally to close the abyss.  Bullshit, Bullshit and more Bullshit. Point is, you are still dealing with a game of Three Card Monte (and not a cop in sight).

So what’s all this got to do with gold?

Everything.  The performance of gold is an embarrassment to Central Banks, Governments and Wall Street.  It confirms the idea that they are idiots, and more and more people are figuring this out.  It’s time once again to shoot the messenger (more accurately, push the messenger off the cliff).  Of course, as long as you can make it look like an accident…… Read the rest of this entry »