Tuesday, July 20, 2010

Mad Max talks to Fred

Max Keiser - Economist Says Current Financial Struture Will Cost Us 10 Year Depression

Yes its January of this year, but think we missed it! starts at about 2mins in, sadly gets cut off right near the end.

Posted by techieman @ 01:50 PM (1202 views)
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7 thoughts on “Mad Max talks to Fred

  • Max sums it up at 16:20 [in response to Ben at 14min].

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  • “Then Gold will just go to the moon….” True enough but its when is then and where will it go before then. Same with the greenback.

    As usual timing is everything…. something that a few on these boards and my current nemesis in particular – i have had a few! – just dont seem to be able to get their heads round!! aw well c’est la vie!

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  • TC @ 6 – well that depends what you are used to! [not my type but each to their own]. As for gold – as you know i had a fair amount at pretty low levels around $300. I got out of most in march 08 – discussed on here actually.

    As for the rest of it, i hold it on the basis of insurance really. I am not bullish on it at all. The last call i gave on it was when it was 1175 (on the way up) and even then i didnt say buy i just said “an interesting level”. Of course i meant buy … but i would say that now wouldnt i! :-).

    I generally think it wont be saved from the deflation – but i am prejudiced by Mr. P on that.

    I think holding it for the long term makes perfect sense – so long as you dont buy on margin and can ride out the storms. Personally i dont think i will buy more unless we get a real collapse.

    As for the dollar i think this is the inverse of gold – i.e. we will have a dollar collapse eventually, but first we will have a strong dollar – particularly against the Euro and GBP (i am not that interested in the Chinese and indian currencies because i think these wont be the ones to trade against to maximise long dollar positions).

    Having said all that we may have a bit more dollar weakness first, but soon i see the dollar marching on in leaps and bounds. You see you are right of course, about just buying it, caveat emptor and all that. Whereas for me i want to actively try to find near the highs to sell it and near the lows to buy it.

    Anyway what does the soothsayer…. er say? [i mean the TC mother indicator].

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  • Fair points TC….. i don’t know… the fact is no-one does not even old HPW!! [although he will tell you he does!].

    Cheers and Goodnight!

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  • Max Keiser is great fun, though ever the committed deflationist, most of his predictions have still yet to be fulfilled i.e. collapse of Sterling, collapse of the Yen etc etc. However, he has always – and continues to be – very, very bullish on Gold & Silver.

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  • Oh, and one more thing.

    It is estimated that for every 10 troy ounces of ETF/unallocated/paper gold, there is only 1 ounce of real, physical gold.

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