Jim’s Mailbox

Posted at 12:22 PM (CST) by & filed under Jim's Mailbox.

Jim,

It always amazes me how soon we forget that the media has been stating not to buy gold for years. Here are a just few examples…

June 2008 ( My personal favorite )
http://money.cnn.com/2008/06/20/markets/thebuzz/index.htm

Dec 2011
http://www.forbes.com/sites/joshuabrown/2011/12/19/the-trouble-with-gold/

June 2010
http://www.cnbc.com/id/37570769/Why_US_Investors_Should_Not_Buy_Gold_Strategist

Oct 2009
http://www.daveramsey.com/article/dont-buy-gold-sell-it/lifeandmoney_other/

Oct 2009
http://www.zerohedge.com/article/five-reasons-avoid-gold-rush

Sept 2009
http://financialhighway.com/gold-%E2%80%93-bad-investment-3-reasons-why-i-don%E2%80%99t-buy-bullion/

Oct 2010
http://money.cnn.com/2010/10/18/pf/investing/buffett_ben_stein.fortune/index.htm

Sept 2010
http://finance.fortune.cnn.com/2010/09/29/the-case-against-gold/

CIGA Burke

 

Jim,

Headline seen on another site…

Stocks Drop Most In 2013 As Gold Is Crucified On The Death Cross

We all know what happened AFTER the crucifixion… the resurrection. Gold does not die, it lies in waiting, feeding off the evil of mankind, gaining strength from its believers.

CIGA Wolfgang Rech

 

Dear Jim,

The unfortunately named "puke" indicator has a buy signal on gold today. By the way, we are now at 3% bulls in the shares.

Thanks,
CIGA David

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Dear Jim,

I’ve been reading you every day for years and years. I thank you for your work and efforts.  I appreciate all that you do for your readers and occasionally, I’m sure you like getting positive feedback.  During the financial whirlwinds that we have experienced over the many years, you have been a calming voice in reminding your readers of the big picture.

I chuckle every time I read on your site that there are people who send you nasty-grams every time you paint a gloomy or negative picture or whatever.  I shall quote the famous basketball player Charles Barkley who was very controversial on his TV shows, "If you don’t like what I have to say, then change the channel."

Perhaps it’s time you remind your irate readers that nobody is putting a gun to their heads to read your posts. People can be awfully brave sitting at a pc and not face to face.  There is also no pleasing some people and they just need to get a life.

In summary, thank you again and again for your efforts and your willingness to share your knowledge.

Respectfully,
CIGA John

 

Jim,

Biden gives us a self protection lesson.

The official government manual of arms for the double barrel shotgun has been announced by Joe Biden:

1. If there is an intruder in your house, go outside. He has a big porch on his mansion.
2. Fire two blasts into the air. He lives in a wooded area, so I supposed the falling lead will only hurt wildlife and trees.
3. He guarantees that they will flee.

This was on the news today. Thus, is there anymore to say? Joe knows!

CIGA Rusty Bayonet

 

Jim,

There is an old military saying. "Once is happenstance, twice is coincidence, but three times is enemy action."

How about the entire month of February? The endless, brutal (and desperate) Cartel paper raids have not been happenstance.

How about the ‘release’ of the FOMC minutes today at 2:pm EST? This has been the trigger for massive raids for so very long there is NO way it is coincidence.

How incandescently dumb does one have to be to NOT conclude this is enemy action? This presents an unexpected and historic opportunity for those who ‘know better’ to stack precious metals (like the bullion and central banks are doing) before it is too late…

CIGA Richard S

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Hi Jim,

I keep telling people the banks are not carrying derivatives on their books; now the mask is being recognized if not removed. I’m going to stop telling people a damn thing; they don’t listen and just look at you like a deer caught in the head lights at night, just like those morons raising hell with you on the FDIC risk exposure.

I will not sell my gold and buy bank stocks and government bonds.

CIGA Don

U.S. Banks Bigger Than GDP as Accounting Rift Masks Risk
By Yalman Onaran – Feb 19, 2013 7:01 PM ET

Warning: Banks in the U.S. are bigger than they appear.

That label, like a similar one on automobile side-view mirrors, might be required of the four largest U.S. lenders if Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corp., has his way. Applying stricter accounting standards for derivatives and off-balance-sheet assets would make the banks twice as big as they say they are — or about the size of the U.S. economy — according to data compiled by Bloomberg.

“Derivatives, like loans, carry risk,” Hoenig said in an interview. “To recognize those bets on the balance sheet would give a better picture of the risk exposures that are there.”

U.S. accounting rules allow banks to record a smaller portion of their derivatives than European peers and keep most mortgage-linked bonds off their books. That can underestimate the risks firms face and affect how much capital they need.

More…