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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: benwood who wrote (42535)	4/14/2013 10:54:52 AM
From: Mike M2	2 Recommendations Read Replies (2) of 48092

well said, I was searching for noland commentary on gold and found this gem from november 2007 gata.org . Watch the youtube videos peter Schiff was right to see the reaction of the media and mainstream Wall Streeters when he warned of " doom & gloom" in 2006-8 . David Faber once said on air that Fred hickey " has been wrong forever" Hickey writes the high Tech strategist and repeatedly warned of the inevitable bursting of the tech, NASdaq, DOT.CON (emphasis on CON !) bubble. Hickey definitely was too early. Back then - I did not understand that the FED was hell bent of perpetuating bubbles regardless of the consequences. In the Jan 2008 Barron's Roundtable interview Hickey and Felix Zulauf were the most bearish of the group and Goldman Sach's Abbey Cohen was bullish of course the SPX was down 38% in 2008!. Hickey has been recommending gold since 2000/2001 I remember one SI poster scoffed at one of my articles from David Tice she wrote " he is hyperventilating about debt again " ( I wish they had the keep feature back then) . I tried to explain to no avail that asset prices were inflated by easy money. In the late 90s many people who understood the unsustainable nature of the credit bubble and its distortion of the demand/output structure of the economy suffered criticism and ridicule when they tried to warn of the inevitable bust. I used to say the bigger the boom the bigger the bust. The current bubble is the mother of all bubbles. The tech/dot.CON bust was disastrous for many and most tech/dot.CON stocks have not recovered better than one third of the peak valuation see long term charts of DELL, MSFT, CSCO, EMC, GLW . Many mania stocks are still down 80 -90%. I know Benwood was on the ask mike burke thread back then so you know exactly what I am talking about. In the late 90s I learned the hard way not to fight the fed and the tape but I still maintain my conviction that gold will recover strongly once the banksters are done shaking out all but the strongest players. This current decline will help the FED return some of Germany's gold. Many of the same voices who warned of the tech/dot>CON bubble, real estate bubble and credit bubble know that gold will prevail but we also realize that we are going against the most powerful entities in the western world - government, central banks, Wall St and the media. In essence they want us to ignore the lessons of history and believe that " this time is different" and that we can print our way to prosperity in spite of all historic precedents to the contrary. I must admit that the FED has done a remarkable job at damage control thus far but we have yet suffer the consequences of global currency debasement.

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