Don't agree with everything he says but he does make a couple of interesting points. http://www.theage.com.au/business/buy-iodine-sell-gold-and-forget-the-aussie-20110318-1c005.html malachii
ROFLOL, wish I could get a job where I could be wrong for several years and still keep it ... maybe this guy should be a politician they can be wrong much worse Let me translate Waah waaaaa waaaah, how TF can I tax this thing
It would be interesting to mark the dates of Michael Pascoe's gold bashing articles against the price of gold. He chimes in every 6-8 months or so and usually this presages a strong rally in the gold price. He seems to have retreated a bit in this article : "I have been wrong about the gold price for the past several years, but that still remains more a matter of timing than fundamentals." but then trots out the same tired "can't eat it, no interest, BUBBLE " reasons that it will not go any further. It seems that these articles are timed at times of market uncertainty to discourage what should be sensible buying by the public (who are not in any way in bubble mode)
This Pascoe guy seems to be the exact opposite of Steve Keen. He can dabble and babble all he wants, im staying with my bubble
"I have been wrong about the gold price for the past several years, but that still remains more a matter of timing than fundamentals." He has to be right eventually!!! Probably the thing that I agreed with him though was the little effect that the earthquake/tsunami/nuclear accident had on the price of gold. I would have expected a lot more (even if you believe manipulation). If the 3rd largest economy being under threat of nuclear annihalation (ok - exaggeration but you get my point) can't move the price of gold more than about $20 per oz - then what will?? malachii
How can anyone really take this guy seriously, with such classics as; "Since that first leg, gold has risen primarily because gold had risen. " WTF, and this guy calls himself an economist. He should have mentioned in there also that the financial advisers don't get any trailing commission by their clients buying physical gold.
That's all I needed to hear, I'm selling every ounce of gold I have at this man's behest. Except I don't have any. So I'm already ahead of the curve. :lol: It must be nice to be so open about being consistantly wrong and still having the confidence to give advice anyway.
I wonder if he actually believes the dribble he sprouts?? I actually know some high net worth individuals and they all hold physical gold so I think I will keep doing the same.
I bet Pascoe's got shiploads of Gold stashed away in a vault...along with the rest of his cronies - "tell them what we want them to hear"
