re: #195 goddamnedfrank

Never try to time movements in commodity prices when group-think has taken over. That gold is priced by panic/manipulation is something that I think most people realize after looking at the stuff over enough years.

Part of the whole fear industry, and that is what it is - a fear industry - that mimics as “news” in so much of our media is just propaganda. And that includes the current broadsides over the Euro, which serve to drive up the price of gold.

One thing to watch is that gold production has been less than impressive for many years - the discovery of major new deposits is a rare thing, indeed. Yes, production is up lately, but that happened because gold become so expensive that even the lousiest deposits become profitable.

This is one of my soapboxes - the false attribution of success by simply being in the right time or right place. Happens in commodities and markets all the time. Someone just happens to buy something at a (relative) low and the price happens to go up before they sell - and thus turn a profit. But could they replicate that reliably? No.