GOLD 0.51% $1,391.7 gold futures

let's quote all the gold bears ...

  1. 24,765 Posts.
    Who basically haven't got a clue.

    Who pretend that the US dollar has not lost any purchasing power and is just as valuable as in 1980.

    "Nouriel Roubini says $1000 is all gold can do"

    What a load of nonsense. But I'm sure people who have little or no understanding of the gold market can find plenty of other gold bears in print to quote.

    These same gold bears who would be appalled if instead of earning their fat 2009 salaries they were paid 1980 + 25% salaries like the current gold price.

    These same gold bears who believe gold mining companies should get close to 1980 dollar payments for their gold but pay all their expenses in 2009 dollars - in reality have a cost structure some hundreds of per cent above 1980 levels.

    This is just absurd.

    Jim Sinclair had this to say:

    "Nouriel Roubini Saturday:

    Many in the gold family have their shorts in a knot concerning an article quoting Professor Roubini that unless we get extreme inflation or extreme deflation those like myself who say gold is going to $1224, $1650 and on to Alf’s numbers are wrong.

    Professor Roubini admits that he has never favored gold which means he did not nor would he have owned it at any price.

    Professor Roubini did not mention gold’s role as a currency nor its relationship to the US dollar.

    Professor Roubini’s interview did not address the fact that extreme currency inflation has occurred in monetary history while debt was failing. That is the definition of hyperinflation, a currency event that will drive the gold price much higher than even I anticipate."

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