Gold to shoot to $10,000 US an ounce!!….says Richard. …
by paulinoz | November 9, 2019 6:42 am
Oz is being saturated by Agora[1] and Port Philip Publishing newsletter shills with $ 10,000 an ounce gold[2] prices ..we presume in our lifetime..and Rickards et al will reveal the secret of how to cash in on this and naturally get rich.
Touting a “ Gold Mania Summit” event to be held down here soon.
Really? ..again?…
I’m wondering a few things here…and I’m hoping some of the fine people in Gumshoedom May help me out .
1. Is the same blitz occurring in US newsletter world?
2. 10,000 an ounce! Can anyone explain how that figure might be calculated? I am assuming there is probably a collection of half truths and personal biases involved in his reasoning , but I don’t know how he could convince ordinary reasonably intelligent investors.
3. And ..Who would buy gold at that price and why?? Yes I know “ look at tulip mania “ etc but I can’t help but think the world is slightly more sophisticated than it was a few hundred years ago.
Reinforced my opinion of Richard and why I advise people to at least ignore anything he says , if not actually do the opposite
I would be interested to hear any answers
Cheers
Paul
- Agora: https://www.stockgumshoe.com/tag/agora/
- gold: https://www.stockgumshoe.com/tag/gold/
Source URL: https://www.stockgumshoe.com/2019/11/microblog-gold-to-shoot-to-10000-us-an-ounce-says-richard/
How do I edit my post.?? There seems no way to do it.
The bloody predictive text helpfully changed every Rickards to “Richards“
Technology ..Bah humbug
In the past 200 years, the dow to gold ratio has formed a huge megaphone pattern and analysts predict the next drop to the bottom of the megaphone would send gold a lot higher and the Dow dropping by 80%. Central banks have been buying up gold like crazy so perhaps they anticipate such a drop? Only time will tell…
“Who would buy gold at that price and why?”. Assuming the price gets there, people who want to get rich quick and perhaps have not been through a market cycle before. The kind of people who bought silver at $50/Oz or bitcoin at $20k. Though not those same people, because they know better now.
Re #1: This is a recurring ad with a deadline to join Rickard’s newsletter constantly being updated.
Re #2: What it would take for gold to reach $10K per ounce and the improbability of this happening is addressed (and only a portion of a much larger picture) in this recent coverage of Rickard’s teaser ad:
https://www.stockgumshoe.com/reviews/strategic-intelligence/trump-to-finish-what-reagan-started-as-early-as-october-30th-whats-being-teased-by-james-rickards-now/#comments
Re #3: There will be no need to ask this question anymore after you read the Travis’ entire treatise.
Thanks bunion
paulinoz
Guest
paulinoz
Thanks everyone for your responses…and Travis thanks for the substantial blatheration in your post recently which I had missed, it was a great read and explained much about Rickards sleazy MO
I am reminded of a time in the 70s here in Oz ( I’ve been around a while) when I used to get actual newsletters, you know paper ones in your actual letterbox, by a guy whom I think was called Cowan?
His pitch was…this was back when the US had seemingly first discovered the Fed printing press and was trying the “ print our way out of trouble “ theory….that went roughly like .. “ there is x amount of gold bullion in the world and there are x amount of dollars . The gold price MUST ( why?) be related to the physical dollar amount which is increasing exponentially courtesy of the Fed printing. At the time there was a mini gold price boom happening, which seemed to lend credence to his pitch…and naturally if you subscribed to his extra exclusive insiders service you could have your picture taken in front of a Rolls Royce just like. him ( I might have my snake oil people mixed up there , but they were all the same) …and retire quickly on the sextupling ( is that a word?) of the gold price that was “ imminent”
So…nothing new under the sun then.
Travis, thanks again for your great service and your blatherations. I love reading them and it bothers me not a whit that some people might find them long winded….I find them full of useful information and insight.
Paul
Thanks everyone for your responses…and Travis thanks for the substantial blatheration in your post recently which I had missed, it was a great read and explained much about Rickards sleazy MO
I am reminded of a time in the 70s here in Oz ( I’ve been around a while) when I used to get actual newsletters, you know paper ones in your actual letterbox, by a guy whom I think was called Cowan?
His pitch was…this was back when the US had seemingly first discovered the Fed printing press and was trying the “ print our way out of trouble “ theory….that went roughly like .. “ there is x amount of gold bullion in the world and there are x amount of dollars . The gold price MUST ( why?) be related to the physical dollar amount which is increasing exponentially courtesy of the Fed printing. At the time there was a mini gold price boom happening, which seemed to lend credence to his pitch…and naturally if you subscribed to his extra exclusive insiders service you could have your picture taken in front of a Rolls Royce just like. him ( I might have my snake oil people mixed up there , but they were all the same) …and retire quickly on the sextupling ( is that a word?) of the gold price that was “ imminent”
So…nothing new under the sun then.
Travis, thanks again for your great service and your blatherations. I love reading them and it bothers me not a whit that some people might find them long winded….I find them full of useful information and insight.
Paul