But, Peter Schiff was right. And I find it hard to argue with any of Peter's points of view. Except his calls on Costa Rica... the place is a $#!thole locals leave a lot to be desired.
I agree with him, too. But this is a manipulated market by banking crooks, it doesn't matter whether you're right or not.
I love the hubris like you know? Which guru predicted this one? Dent, Armstrong, Ackerman, Leon 1998 ? Up or down or sideways - yes that is it, that is for sure it will do one of those moves, there is no doubt. Don't you get tired of these forecasts ???
Its a good excuse for being consistently wrong. Blame it on a cabal of powerful manipulators who, for reasons that shall remain mysterious, spend their days watching the predictions of small-time gold bugs and then take delight in moving the markets in the opposite direction.
I wonder when Leon will realise 8 balls don't really work. I feel sorry for the kid when he comes to that conclusion, kind of like when you find out Santa is not real.
Whenever gold bugs rushed out to celebrate, gold price started to take an ugly turn. Gold is falling back to 1200, silver to 17 -------------oops
Source: Look and learn Source: http://www.equityclock.com/charts/gold-futures-gc-seasonal-chart/ "The above chart represents the seasonality for Gold Futures (GC) Continuous Contract for the past 20 years." Waiting for you to predict that gold will do well in may based on your "deep" understanding of kondratieff wave cycles or Elliot wave cycles after you've seen the seasonality chart and holding my breath for an outstanding revelation regarding a June/Sepember bottom for the year. Soon you will perhaps try to dazzle me by predicting gold will be up during next winter. Your predictive system is wrong as is most voodoo based on interpretations of wave cycles. I am not a 'gold bug'. Try again. It's amazing how many conmen pretend to have super secret predictive systems based on wave theory, or astrology, or 'insider information' or something to do with mathematics or computer science that any mathematician or computer scientist can see through as nonsense in minutes to sucker people into buying newsletters based on simple seasonal observations on commodities. Source: You believe in Kondratiev wave and their most popular pumped incarnation Elliot waves because you ultimately lack the mathematical education in statistics to see through them for that they are at best interesting philosophical theories without practical application. The Fundamental Error of Elliott Wave Theory http://orvinfive.blogspot.ie/2009/04/fundamental-error-of-elliot-wave-theory.html " This brings us to the fundamental error of Elliott Wave theory. Looking at a stock index chart, we see an apparent series of loosely identifiable patterns, some of which seem to repeat sporadically. We then ask ourselves if it is possible that these patterns can be modeled mathematically in the same way that other natural phenomena have been. For this to be true, we would have to first (1) identify the main underlying inputs to the model, and (2) assign such inputs their respective degrees of value. Even though we might miss a few inputs, our model should still be robust enough if we catch the main ones. So, is it possible? The answer is no." Do Kondratiev waves predict long-term economic trends? http://skeptics.stackexchange.com/q...atiev-waves-predict-long-term-economic-trends "There is a sound reason in human psychology why we keep believing the predictions of these theories: we remember predictions that seem to work and forget the other predictions of the same experts that don't work. So an expert can attract a body of evidence of successful prediction by making a number of alternative forecasts and then, after the event, erase the forecasts that were wrong. This problem is extensively discussed by dan Gardner in his recent book Future Babble, also by William Sherden in his book The Fortune Sellers and by Nicholas Taleb in Fooled By Randomness (all of which should be compulsory reading for all skeptics). Their key message is that it is really easy to be fooled by apparent patterns in noisy historic data, but they are rarely if ever true and even more rarely valuable when trying to make decisions about the future. In short Kondratiev cycles predict nothing useful." Source: Please note Gold Futures (GC) Continuous Contract charting is not 'noisy data'. Its quite loud and clear data. So why does someone like Elliot wave international promote this theory? Complaint Review: Elliott Wave International http://www.ripoffreport.com/r/Ellio...by-Elliott-Wave-International-Internet-552262 "I am filing this report as warning to those would be traders that are thinking of attending a trading seminar promoted by Elliot Wave International. I stumbled across a seminar promoted by what I thought to be a reputable company, Elliott Wave International. Bottom line is the seminar was an absolute joke and I paid $9,000 + to attend the event. I traveled from the other side of the world to attend a seminar that was falsely mirepresented. " In the end I have some gold as a fraction of my assets that went missing in a boating accident. You apparently do not. If you want some I suggest you go and find out how to buy it cheap instead of waiting for a magic moment on a chart that will never arrive and trying to play the wise bear or bull with 'secret' knowledge or insight. I certainly think 9000 spent on gold is wiser than 9000 spent attending a seminar on Elliot waves. Shares in amazon, facebook or perhaps groupon may be more your thing though. Have you or do you pay for the services of Elliot wave international by any chance? Do you know who Robert Prechter is? I would not personally invest a loose toenail based on his advise nor will I be in line to pay for seminars on Elliot wave theory which for me adds little to Kondratiev an interesting but unfortunate brain who died in a soviet gulag and who'd theories have been dug over to sell seminars and newsletters. "The Elliott Wave Principle, as popularly practiced, is not a legitimate theory, but a story, and a compelling one that is eloquently told by Robert Prechter. The account is especially persuasive because EWP has the seemingly remarkable ability to fit any segment of market history down to its most minute fluctuations. I contend this is made possible by the method's loosely defined rules and the ability to postulate a large number of nested waves of varying magnitude. This gives the Elliott analyst the same freedom and flexibility that allowed pre-Copernican astronomers to explain all observed planet movements even though their underlying theory of an Earth-centered universe was wrong." -Aronson, David R. (2006). Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals. New York: John Wiley and Sons. p. 41. Your analytical method is wrong. Your prediction is wrong. Your assumptions about gold owners are incorrect. Not everyone holds gold because they think an economic zombie apocalypse will happen. People who own gold are not dumb. People who like to talk about wave 5 of a cycle are. Forget everything you know and begin again. All wave theory predictions on a commodity like gold or indeed currencies that are so affected by geopolitical events and central banks is just gonad rubbing Here is a more useful insight into the future: "Things as certain as death and taxes, can be more firmly believed." Benjamin Franklin That is why physical gold is useful for intergenerational wealth transfer. Note no economic apocalypse necessary. Peter Schiff does not bang that drum when he is flogging gold to doomers and sticks to inflation because he would be publicly advising on tax evasion and would not get airtime on MSM. I ultimately could not care less if gold fluctuates a couple of hundred bucks either way.
Did you make that chart? That might be the best thing I've seen on this forum yet. Gold sub forum is over. Oldsoul won. Everybody can go home now. In other news, watch this: I command the gold price to rise!
I am using my Jedi powers to make gold stay low. I've been waving my arms for ages. People are starting to wave back at me!
Checkout the time against the chart. I'm pretty much in charge of all the physical laws of the universe now. Not really sure what to do with this new found power, tropical cruise on a cocaine submarine with Lindsay Lohan circa 2005? Maybe I'm thinking too small.
Is that supposed to mean something in your whacky world of waves and it's back up again 1198.79 (please note this is of no massive importance to anyone sane) You really are fooling yourself. Anyone....anyone who knows anything about PMs knows these are very minor daily fluctuations that mean very little. You predicted via a 'vision' (which turned out to be bogus wave theory) that gold would take this path without bothering to specify any dates and a month later..... Leons vision 1200>1170>1130>1085 Reality 1201>1147>1208>1198 You are 100 bucks out. I asked or a timescale and you gave none. Please note that means you are playing bogus prophet from the get go e.g. gold could fall to 1 and rise to 2000 and you could claim to be right four times without it having any meaning or practicality. The clear implication of your initial post on the 21/2 was that you were going to predict the immediate price moves of gold. You have failed to do so. I think this thread is the first occasion I have ever bothered to play guess the spot and I provided dates and my reasons based on seasonality with the addendum that doing so is just gonad rubbing. There is no magic in your wavy gonads leon. At this point I'm afraid you have reached this point [youtube]http://www.youtube.com/watch?v=X6WHBO_Qc-Q[/youtube] I'm beginning to think the 1998 in your name is your date of birth. Never go full retard kid. Simple Leon loves his waves and can stare at 10 minute ticks like they mean a lot..... . [youtube]http://www.youtube.com/watch?v=s18WiitofZQ[/youtube] I have to wander off now. Stay safe simple Leon.
