Jim Rodgers Gold Bugs maniacs

[Pipers]

Ok guys this Telegraph article from the 3rd  Nov put Gold in bear to go down to $1000, I have read Jim Rodgers on his blog claim Gold needs to go down to $960 to be a buy, but remember these are just opinions they are not Gurus.

 

J Rodgers claims Gold/Silver bugs are Maniacs, a Gloomy bunch, and until these mystics are washed out, Gold cannot make a bottom.IMO  What this means is, he is getting frustrated that Gold hasn't come down fast enough for him to reinvest to make big profits, he is blaming what he claims are maniacs eg people like us on this forum the people in India, China,Russia, Asia, Middle east, Turkey, South America. as being Maniacs.

 

It is up to me if I invest in Gold and Silver I use it esp Gold as a hedge against my house, J Rodgers can call us names if he likes, IMO is he is now pumping up Agriculture, anyone who invests at all in commodities invested ages ago in Agriculture and there investment is set making money. IMO He is one of those investors who gets into a market then goes around pumping it up taking out profits as he pumps it up in interviews on RT or Bloomberg.  

 

Just in case (one in a million chance ) JIM RODGERS reads this. If Gold only has  $200 to its bottom why would any of us then sell, we would be idiots because of the spread on physical 1% below sell plus carriage then buy 3-5% above spot again if possible at the bottom, when scramble is on.  I remember last scramble Gold was going for 10% above spot and Silver over 35% above spot. 

best to hold physical for long term investment.     

 

http://www.telegraph...confidence.html

 

http://jimrogersonth....blogspot.co.uk

[HighlandTiger]

J Rodgers claims Gold/Silver bugs are Maniacs, a Gloomy bunch, and until these mystics are washed out, Gold cannot make a bottom.

 

Actually he's not far from the truth. You only have to look at the thousands of youtube videos from these "maniacs" to see what he is getting at.

 

I think he sums it up very well with this statement. I certainly cannot disagree with his observations, as they really coincide with my own. But then I know I have an obsession........................   

 

Goldbugs: Obsession Is Not The Best Investment Philosophy

 

Today`s gold maniacs are the Goldbug, investors who believe that this ancient precious metal is the only currency with lasting value and that an explosion in its price is ever nigh. A gloomy bunch, the Goldbugs buy gold and hold it as insurance against corporate stupidity, a real estate crash, a stock market meltdown, or the collapse of the U.S. Dollar, not to mention world worldwide financial chaos. Disturbed by visions of their children living in a future shantytown in a deserted area once known as Wall Street, the Goldbugs`solution is to buy more gold, at any price.

This attachment to gold is certainly fascinating from a psychological point of view, but following an obsession is not the best investment philosophy.

[Pipers]

I never had you down as being a Gloomy maniac HT, Maybe he has misunderstood the word maniac . Just to state what a maniac is :- Used as a Noun adjective modifier (as i'm sure J Rodgers must of meant), an obsessive enthusiast eg 'religious maniac'  maybe ISIS, but as a Gold hoarder

 

I have actually only watched a few Gold Silver  youtube videos. I must admit I don't get the wrestlers voice and the big knifes  that seem to be part of the Silver youtube video club. Seems a bit odd to me

 

Maybe he is a bit disappointed because his Gold short has not hit its mark yet.