tag:blogger.com,1999:blog-22301740.post6852967622600499744..comments2024-03-26T09:49:07.212-07:00Comments on The Scratching Post: Sneering At The GoldbugsK T Cathttp://www.blogger.com/profile/10259428595745509790noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-22301740.post-52855517668042715782013-01-17T14:16:31.275-08:002013-01-17T14:16:31.275-08:00WC, he doesn't address that at all. Central ba...WC, he doesn't address that at all. Central bank buying would seem to wreck his "pricing in" argument altogether. K T Cathttps://www.blogger.com/profile/10259428595745509790noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-8530782470373180812013-01-17T14:05:38.248-08:002013-01-17T14:05:38.248-08:00Are they also sneering at the central banks who ar...Are they also sneering at the central banks who are <a href="http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022332/a-new-gold-standard-is-being-born/" rel="nofollow">buying record quantities of gold</a>?W.C. Varoneshttp://www.wcvarones.comnoreply@blogger.comtag:blogger.com,1999:blog-22301740.post-86039236237876427802013-01-17T11:59:28.122-08:002013-01-17T11:59:28.122-08:00WC, the pricing in argument made no sense to me, e...WC, the pricing in argument made no sense to me, either. K T Cathttps://www.blogger.com/profile/10259428595745509790noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-40169291924763050752013-01-17T10:59:20.542-08:002013-01-17T10:59:20.542-08:00Thank heavens for gold haters. They are the ones I...Thank heavens for gold haters. They are the ones I'll sell mine to when the time is right. Jeff Burtonhttps://www.blogger.com/profile/18068021849429001560noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-79706885582826543392013-01-17T10:47:40.279-08:002013-01-17T10:47:40.279-08:00The lack of more serious inflation does deserve in...The lack of more serious inflation does deserve investigation by Austrians and gold bugs but I don't think they lack hypotheses. E.g. we're exporting inflation to china etc, manipulation of the inflation data, all the big money managers are keynesians. Also, as the Austrian school stresses (vs. Monetarists) inflation has a particular path through the economy and doesn't spill into every sector uniformly. A lot of it is going into bonds and other "safe" investments. Lastly, with regard to gold, besides the keynesian denigration as a 'fetish', there's the high probability that if gold spikes the government will do something to curb "excess profits" and "speculation", whether that be a targeted sales tax, confiscation, etc. We've already seen a new tax on miners in Australia, new gold import controls in India and some mine nationalizations in the last few years. Add to that the fact that the paper gold market is suspect. Who wants to buy a bunch of gold when you're pretty sure the government is going to screw you if you're right. Only those wanting to insure against general financial collapse.Shane Atwellhttps://www.blogger.com/profile/12268148003641995554noreply@blogger.comtag:blogger.com,1999:blog-22301740.post-41359564784367078302013-01-17T10:13:45.430-08:002013-01-17T10:13:45.430-08:00How can it be "priced in" when global ce...How can it be "priced in" when global central banks are committed to <a href="http://www.zerohedge.com/news/2013-01-17/boj-joins-ecb-and-fed-unlimited-print-train" rel="nofollow">unlimited money printing</a>, and yet the average investor, both individual and institutional, still has approximately 0% allocation to gold?<br /><br />Wouldn't it be prudent to have a 5% allocation just in case?W.C. Varoneshttp://www.wcvarones.comnoreply@blogger.com