Hints and tips:
...“Goldbugs” would be wise to heed this lesson. Total ETF holdings of gold are 20% higher than they were when we worried about positioning back in January....
...Anyway, here are some compelling comments from the Buiter’s note which are no-doubt going to infuriate goldbugs and bitcoiners everywhere on Thursday....
...- Some goldbug hyperbole. - What about Germany’s own fiscal union? - Why Cyprus should leave the euro. - And why are the French drinking less wine? - Killing the banks is the best thing for them....
...In “le pop” land, meanwhile, Dennis Gartman (CNBC pundit, fund manager and author of the Gartman Letter) openly declared — to the dismay of many goldbugs — that it was quite clear that a top had been reached...
...But the last few weeks have sent goldbug heads spinning. First, the price went – as they say in the City – parabolic, hitting new high after new high and peaking at $1,917 an ounce....
...“It’s not just the goldbugs,” she says. “Everyone wants to talk about gold.”...
...If so, it is a problem for goldbugs, who rarely fail to trumpet bullish supply and demand trends. When financial investors sell, someone else has to buy to keep the price from dropping....
...Elsewhere on Thursday, - Pity the fool, uh, goldbug. - The FX-shaped hole in FinReg. - ‘Burger King kids‘. - What can QE accomplish? - And is Ben having second thoughts?...
...Finally, gold briefly hit a new nominal high, helping well-off goldbugs....
...Goldbugs pushed prices of the yellow metal to a record high on Tuesday, but some more sober folk are eyeing the other yellow metal. Uranium prices are only a third as high as their 2007 peak....
...More details of Japan’s most recent stimulus measures have come out in the last 24 hours, and one of them in particular has got goldbugs and inflationistas’ tongues a wagging....
...Sovereign wealth funds are also becoming goldbugs....
...- Goldbugs, Olympic edition. - London’s cheesegrater on hold. - Fannie Mae dissected, in Further Reading. - And BARC, British Land, Bellway and Draaisma get an outing in today’s Markets Live....
...“It is notable,” said Citigroup analyst John H Hill, “that the hard-core goldbugs have been proven correct in the decade-long contention that a vast and complex pool of nested financial derivatives would...
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