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Now is a time when there is much discussion regarding the performance of gold in periods of deflation. A fine piece addressing some of these issues was written in 2005 by Bob Landis, Chairman of Amarillo and partner with Reg Howe at Golden Sextant, one of the best websites on the precious metals markets:
The nation with the largest non-industrial demand for gold is India. Think of Indian women.
Demand for gold has crashed in the last year in India, by over 40% by all accounts.
We’re heading for a hyperdeflationary burst. BY FAR the best investment is extremely safe bonds.
Any recommendation to purchase gold in such an environment is patently irresponsible.
Tony
Tony:
Your ISP lists their address as 75 Broad Street in New York. I remember that address fondly. I was a summer intern at Goldman Sachs when they were at 60 Broad. Now, of course, they are at 85 Broad. When I worked at Dillon Read, we were around the corner on Wall and William. JP Morgan was still at Broad and Wall. I walked by it every day. Of course they built down on Wall and then merged with Chase which is a few blocks north, all in the same area. Wall Street is, after all, a very small area.
You might find Rob Kirby’s latest piece of interest. The drop in the gold prices was accompanied by significant increases in JP Morgan’s derivative positions: http://markinthepark.net/blog/?p=1459
Of course, this is just a listing of commercial banks. To my knowledge, we do not know what Goldman’s position is.
Nevertheless, I wonder if your feelings on the gold price are effected by the air you are breathing….
The nation with the largest non-industrial demand for gold is India. Think of Indian women.
Demand for gold has crashed in the last year in India, by over 40% by all accounts.
We’re heading for a hyperdeflationary burst. BY FAR the best investment is extremely safe bonds.
Any recommendation to purchase gold in such an environment is patently irresponsible.
Tony
Tony:
Your ISP lists their address as 75 Broad Street in New York. I remember that address fondly. I was a summer intern at Goldman Sachs when they were at 60 Broad. Now, of course, they are at 85 Broad. When I worked at Dillon Read, we were around the corner on Wall and William. JP Morgan was still at Broad and Wall. I walked by it every day. Of course they built down on Wall and then merged with Chase which is a few blocks north, all in the same area. Wall Street is, after all, a very small area.
You might find Rob Kirby’s latest piece of interest. The drop in the gold prices was accompanied by significant increases in JP Morgan’s derivative positions: http://markinthepark.net/blog/?p=1459
Of course, this is just a listing of commercial banks. To my knowledge, we do not know what Goldman’s position is.
Nevertheless, I wonder if your feelings on the gold price are effected by the air you are breathing….
Now is a time when there is much discussion regarding the performance of gold in periods of deflation. A fine piece addressing some of these issues was written in 2005 by Bob Landis, Chairman of Amarillo and partner with Reg Howe at Golden Sextant, one of the best websites on the precious metals markets:
This article is quite facile.
Gold is crashing for a reason.
Tony
The nation with the largest non-industrial demand for gold is India. Think of Indian women.
Demand for gold has crashed in the last year in India, by over 40% by all accounts.
We’re heading for a hyperdeflationary burst. BY FAR the best investment is extremely safe bonds.
Any recommendation to purchase gold in such an environment is patently irresponsible.
Tony
Tony:
Your ISP lists their address as 75 Broad Street in New York. I remember that address fondly. I was a summer intern at Goldman Sachs when they were at 60 Broad. Now, of course, they are at 85 Broad. When I worked at Dillon Read, we were around the corner on Wall and William. JP Morgan was still at Broad and Wall. I walked by it every day. Of course they built down on Wall and then merged with Chase which is a few blocks north, all in the same area. Wall Street is, after all, a very small area.
You might find Rob Kirby’s latest piece of interest. The drop in the gold prices was accompanied by significant increases in JP Morgan’s derivative positions: http://markinthepark.net/blog/?p=1459
Of course, this is just a listing of commercial banks. To my knowledge, we do not know what Goldman’s position is.
Nevertheless, I wonder if your feelings on the gold price are effected by the air you are breathing….
Catherine