Yahoo: Impending Gold Collapse to take Metal to $700

In yet another indication that the bull markets in gold and silver are FAR from over, Yahoo Finance has published an interview with gold expert Yoni Jacobs (come again?), who claims an impending collapse in gold will take the metal under $700 an ounce.

Jacobs claims gold is in a bubble which is about to burst (1% of all financial assets are invested in the entire PM arena, please explain to us how an asset class that less than 1% of Americans are invested in can be considered a bubble Mr. Jacobs!) and recommends investors short the GLD and the GDX (miners ETF).

While this ‘expert’ propaganda is obviously laughable as nothing has changed in the fundamentals that have driven gold from $270 to $1915 an ounce, we can only wish for the opportunity to acquire real wealth again for a mere $700 fiat debt notes.

Full Propaganda report below:

Comments

  1. They always forget to mention in these articles about the prices of commodities also rocking upwards like sugar, oil, nickel, copper, wheat, cocoa, etc. 

  2. That would be a bummer ’cause I am, as I post, making a SD purchase of silver. Oh my! LOL. Jacobs is a nut case. The more we hear this rhetoric the more we know it’s not true. Again, denial is usually the last phase of a collapse.

    P.S. Order went through. Thanks DOC, Bull and XXXXX. Didn’t want to call your employee by name on the site.
  3. Yahoo news obviously shops around for people that have the opinion they want to convey.  I never heard of the gold expert mentioned.  The argument that we are in a bubble is laughable.  Now, I am open to the suggestion that we are in a consolodation period right now.  How this will continue to unfold is any experts guess.  Even if we get a severe further down turn in the markets it will just be a very uncomfortable period.  It will go back up and make new highs.  We got at least 3 years left and that is conservative.  I expect that we have 5 years left.  This so called bubble hasn’t even reached the manic phase yet.  We got awhile to wait for that.

  4. Mr. Yoni Jacobs, disciple of Mr. Benjamin Bernanke.  Gold must collapse if fiat currency is to survive.  From this point on, they can no longer co-exist in any semblance of harmony.  It is a ‘fight to the death’.

    In the aftermath, Yahoo! Finance publishes a follow-on story:

    “Gold expert Yoni Jacobs was off by a factor of 10.  With continued printing and debasement of paper currencies throughout all major regions of the world, gold on this date has made the new historic high of $7,000 per ounce.  Meanwhile, silver had narrowed the gold-to-silver ratio and is now trading at just over $1,000 per ounce.”

  5. P.S.S. If gold and silver tanks I”ll buy even more

  6. I would agree we are in a consolidation period, but one that was caused by the banks six month naked shorting spree that has sapped the morale of our finest troops.
    So it’s not a free market consolidation, but rather a tired and weary market sitting tight. For now. The next move will be event driven. An event they can’t hide or prevent.

  7. The Daily Ticker is the Biggest Shill Propaganda Machine In MSM.
    Yoni Jacobs Why-Gold-is-in-a-Bubble

    This “Expert” Sites The Following:

    “Over-Speculation”: Really?—By whom?—For this to be true, there must be evidence that one or more entities are accumulating physical and/or futures on the long side similar to the Hunt Brothers in 1979 or Warren Buffett in 1997. This is as far from the truth as any idiot from “The Daily Ticker” can be.

    Has this guy even looked at any COT report?  I’ll use recent data, probably too recent for this guy as he probably hasn’t looked at a chart of anything recent in his whole life. Almost two months ago, if only commercial shorts are taken into account, the outstanding number of contracts was reported to be 390,412 (39.412 Million oz. of gold) to most recently, 319,152 (31.9152 Million oz.). Is this the over speculation this expert is referring to?
    I love to be entertained, but this guy needs some psychiatric help.

    “Parabolic Price Increases”: Again —Really? What does this guy think sets the price of gold? Does gold just go up in value by itself? Um–No!—Money printing and expectations of inflation sets the price of gold and, in turn, increases demand. This fundamental is not going to cease as long as politicians keep buying votes with printed money for the purposes of programs of tax-payer redistribution. Maybe this guy needs a little that Sargent psychologist treatment:

    That’s Why The Yellow Metal Makes Me Sad?—LOL 

    “We see “Mass Publicity” such as CNBS talking about it”–Really? so if CNBS trashes gold, that’s an indicator? for what? –And who trashes gold?…those guys on that ridiculous trading segment, “Fast Money”, where they ask their “expert, Dennis Gartman—The guy who said he was wrong about gold recently, and who is now short, I guess, unless he changed his position again because he couldn’t find his way out of the bathroom with the door open?—that guy? HAHAHA!

    Here he is—Giving his Brilliant Advice:

     
    “The Front Page of the Wall Street Journal is saying there’s a bubble.”
    Well…and that’s an objective source of news on gold?–Is this the article he referrs to? WSJ Article

    Here’s an Excerpt:
    “Gold still is benefiting from concerns that the global economy remains
    fragile and a belief that governments will launch new rounds of
    stimulus, undercutting paper currencies. But that belief has been shaken
    with signs that the U.S. economy is stabilizing, giving investors fresh
    cause to wonder if there might soon be better returns elsewhere.”

    So their reasoning centers around the fact that global economies remain fragile but are recovering?…where? but that governments will launch new stimuli?—Isn’t this good for more money printing that supports gold prices?….And that there is fear the US is stabilizing?…Where? HAHAHA

    “We’re Seeing “We Buy Gold” & “Cash4Gold” Stores Everywhere”. Oh–so, this is an indicator that gold should drop?—why, then, do these stores so desperately want to buy your gold?—why shouldn’t we see “We Sell Gold” stores popping up everywhere?—Go sell your fake Rolex!

    He Goes On To Say: “I completely agree with the fundamental reasons for the gold bull: Money printing, the gold market is really small as compared to stocks and bonds”, but the Chinese market is slowing down“–Really?, Has this guy ever noticed that China is accumulating gold at the fastest pace this world has ever seen in history?

    “Dollar Strength is Coming Back, People are looking at the dollar as a flight to safety” Really?, If any “asset”, and I use this term loosely, is in a bubble, it’s the dollar…nuff said. The dollar is a fake flight to safety because most “investors” have not yet awakened to precious metals. (less than 1% even hold PM’s). This is further proof that there is nothing supporting this ridiculous notion of a Gold Bubble”.

    “There’s trouble in Europe, and Gold is still not Performing Well” –Really?, This has got to be the most uninformed statement of this entire video! Looking at any time frame you wish, gold has performed well:
    YTD: Price increase from 1563 to 1651 (5.6%) or (18.9% Annualized).
    1-year: Price increase from 1485 to 1651 (11.1% Annualized)
    2-year: Price increase from 1136 to 1651 (45.3%) or (22.66% Annualized)
    5-year: Price increase from 677 to 1651  (143.87%) or (28.77% Annualized)
     
    “The “froth” has come off–We have a lot of selling pressure” Really? From whon? JP Morgan Manipulation? Very Amusing! The fact is the public is not selling and have not created the “selling pressure” this guy is referring to. These down drafts are the result of Commercial Bankster Manipulations for their own profit and nothing more.

    “Oil is dropping and is off it’s previous highs” Really? This guy better tell Obama that those speculators he’s trying to “Rein-In” are really driving the price of oil down rather than up. Ridiculous!

    “Gold is a Commodity and not a Currency” –So, if this statement isn’t enough to make you think this guy is an idiot, he goes on to say that global growth is slowing so, in turn commodities will fall, Wait!, I thought this guy said we’re see a recovery in the economy–Which is it? HAHAHA!

    I’m Expecting Deflation” –Where? is grocery prices?…Oil, services such as health care? money printing?…Where is this deflation?

    “Gold’s long-Term Average Since 2002 is $500-$700″.–So what? The long term average of the Dow Jones Industrials is in this same time is 10507. Does that mean it needs to drop to this point in this guy’s mind? I also guess that he would think stocks are in a bubble based on this nonsense.

    If this isn’t enough to convince you that this kind of Shill propaganda should be more appropriately found on a romper-room website, Here is a link to an article Joni Jacobs wrote in January 2011: where he states the same old nonsense: “Gold is in a Bubble” Yoni Jacobs Why-Gold-is-in-a-Bubble

  8. I looked up the defination of “Tool” & Yoni Jacobs picture came up

  9. These are the same dorks that turned down a $40 billion offer from Microsoft?   Gold at $700?  Can you imagine the feed frenzy if gold went to $1,000.  China and India would suck up every ounce of gold in the world.  Yahoo, just one more in a long line of MSM nitwits. 

  10. I say bring it on! The major news outlets are usually right in the very short term. They usually sucker people out of their positions then the prices go back up in the longer term. I am not that concerned about the actual prices. Not looking to sell until the sheeple come a knocking!

  11. Interesting, that while at my LCS this afternoon, and a very large store by
    the way, when inquiring about gold told me he didn’t have a single 1 ounce Eagle
    or Buffalo and only a few Maples…..makes me think either everyone is out
    picking ‘um up or the dealer is completely unwilling to let ‘em go for only
    like $1750…..
  12. Use Your Clicker and Mute The Ticker!
    Don’t Be a Stiff –Click on This Link and Read Peter Schiff!

    Excerpts From King World:

    So, do you want to believe the speculators
    or do you want to stick with the long-term trend?  I think a lot of the
    professional money managers, professional speculators, they’ve been
    betting against this gold bull market for the the last ten years. 
    Betting against gold has been the wrong trade.

    Over time, gold keeps
    making new highs.  The same could be said for gold stocks, albeit at a
    slower rate.  The gold shares reflect the fact that you’ve got a lot of
    skepticism.  This is the antithesis of a bubble.  Instead of there being
    euphoria and people speculating on a gold rally, they are all betting
    against it.  Meanwhile, gold continues to climb a wall of worry. 

    The gold bears, they
    actually think the US economy is sustainable.  They don’t understand the
    structural problems.  They don’t understand the government solutions
    are actually worsening the problems.  These people even buy the
    government PR campaign that there is no inflation.
    Click Here:
    kingworldnews Peter_Schiff

  13. That is truly sad.

     But I expect it nonetheless.
  14. This spectator is looking at the paper market that’s all. He’s still wet behind the ears.
    The decoupling begins.

  15. i looked up the definition of yoni, and despite his jewish/israeli background, it means vagina in the country where the gold is always valuable. :-)

  16. The hole worlds fiat system is racing to the bottom, to 0. So the dollar is on top of the pile of a bunch nothing!! This guy thinks the dollar is strong? Inflation Deflation it dose’t matter with PM it will aways have value.

    I hope he dose go short
  17. The only bubble is this characters head… I look forward to seeing it POP! That be awesome if the happy yellow drops that low… Then I will do as always during a sale… BUY BUY BUY!!!! Maybe yahoo should find someone remotely credible who looks at some kind of news and charts from the last few years instead of some guy who answered a want add and was able to tell the difference between a piece of rope and a piece of 14k chain…

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