Imagine a Venn diagram showing a cross-section
of gold bugs and doomers, and you end up with the «physical gold» crowd.
I am surprised you did not attract the wrath
of the gold bugs yet.
Could that level be reached in a final puke fest and clean out
of gold bugs?
I noticed that there are a plenty
of gold bugs among regular readers as gold gathered the most votes.
While innovation should always be encouraged, Bitcoin isn't yet fit as a place for orphans and widows to shelter their nest eggs — although there are admittedly plenty
of gold bugs who would say the same about fiat currencies.
Not exact matches
Gold bugs like Sprott have long warned about the impact
of inflation, central bank policy measures and government spending on the value
of fiat national currencies.
Gold bugs like Eric Sprott, head
of Sprott Asset Management, have for years recommended owning precious metals for this reason.
The speed
of at which that unwind happened seems to have attracted the attention
of speculative
gold bugs.»
Analysts who retain sympathy for the
gold standard, like self - confessed «
gold bug» John Mauldin, have always understood that the main argument in favor
of gold is that it imposes an unbreakable trade and capital flow discipline — indeed that is also the main argument against
gold — but many
of them have tended to de-emphasize reserve currency economics mainly, I think, because this particular problem is to them subsumed under their more general concerns about money.
And you know I'm not one
of these big
gold bugs but I definitely feel like there's an advantage to having a pegged currency because it forces decision makers within the country to spend reasonably because whenever they don't what happens is the currency devalues everyone will then suck the
gold out
of the country.
In that article, I posed the question if Apple's market value really should be more than four times the market value
of all the
gold reserves and resource held by all the
gold companies that comprise the HUI
gold bugs index.
Based on the last five years» worth
of data, the NYSE Arca
Gold BUGS Index has had a monthly standard deviation
of ± 9.4, but last month it plunged 20 percent.
Before I start today's article, I just want to clarify one statement from my article about diversification in which I discussed how most
gold and silver mining stocks are still undervalued heavily by comparing the cumulative market cap of all gold stocks in the HUI Gold Bugs index to the market caps of well - known single stocks like Apple, Facebook and Ama
gold and silver mining stocks are still undervalued heavily by comparing the cumulative market cap
of all
gold stocks in the HUI Gold Bugs index to the market caps of well - known single stocks like Apple, Facebook and Ama
gold stocks in the HUI
Gold Bugs index to the market caps of well - known single stocks like Apple, Facebook and Ama
Gold Bugs index to the market caps
of well - known single stocks like Apple, Facebook and Amazon.
In fact, we could own every single company in the entire HUI
gold bug index, and their total market cap would incredibly be less than 1/4 the market cap
of one company, Apple.
YTD, his Crisis Investment Opportunities newsletter has more than tripled the yield
of the US S&P 500 after also returning positive yields last year, at a time in which the HUI
gold bugs index declined by more than 50 % from January 2015 to January 2016.
Should Apple's market value really be in excess
of 4 - times the market value (the cumulative market capitalization) assigned to all the companies that comprise the entire HUI
gold bugs index, and all the
gold reserves and resources held by them?
Consider that despite the stellar performance
of gold mining stocks this year that have been, by far, the strongest performing asset class of 2016 (along with silver mining stocks), and that even with the massive growth in market cap of PM stocks during H1 2016, the total market cap of all the mining stocks that comprise the HUI Gold Bugs index, as of 2 August 2016, is still barely larger than 1/3 the market cap of Facebook and Ama
gold mining stocks this year that have been, by far, the strongest performing asset class
of 2016 (along with silver mining stocks), and that even with the massive growth in market cap
of PM stocks during H1 2016, the total market cap
of all the mining stocks that comprise the HUI
Gold Bugs index, as of 2 August 2016, is still barely larger than 1/3 the market cap of Facebook and Ama
Gold Bugs index, as
of 2 August 2016, is still barely larger than 1/3 the market cap
of Facebook and Amazon.
by Before I start today's article, I just want to clarify one statement from my article about diversification in which I discussed how most
gold and silver mining stocks are still undervalued heavily by comparing the cumulative market cap of all gold stocks in the HUI Gold Bugs index to the market caps of well - known -LSB-
gold and silver mining stocks are still undervalued heavily by comparing the cumulative market cap
of all
gold stocks in the HUI Gold Bugs index to the market caps of well - known -LSB-
gold stocks in the HUI
Gold Bugs index to the market caps of well - known -LSB-
Gold Bugs index to the market caps
of well - known -LSB-...]
But this bit about Russia shows the ambiguity
of most
gold bugs.
In this report for NBR, Jane Wells takes the pulse
of the
gold and silver
bugs attending the largest coin show on the West Coast.
While geopolitical and economic factors are pushing the price
of gold higher, the extreme dislocation between the western Central Bank short position in
gold via several different forms
of paper
gold and the amount
of available physical
gold to deliver into buyers» hands is going to move
gold in a way that will shock and awe everyone except maybe the hardiest
gold «
bugs.»
Perhaps today the absurdity has reached the apex
of its crescendo with this utterly ridiculous «letter to
gold bug» published by Marketwatch: It's time to surrender and let the yellow metal fall to its bear market low
«The latest results from BAR demonstrate the continuity
of high - grade
gold mineralization within the southern
Bug Lake Zone.»
However, the 2016 advance has had many analysts questioning the integrity
of this latest move as the HUI (NYSE Arca
Gold BUGS Index) and the XAU (Philadelphia
Gold and Silver Index) have defied gravity, the laws
of physics, the Law
of Diminishing Returns, and just about every other law that historically pertains to the behavior
of stocks.
The latest results from Balmoral demonstrate the continuity
of high - grade
gold mineralization within the southern
Bug Lake Zone.
The ratio
of the HUI (NYSE Arca
Gold BUGS Index) to gold resides at 2014 levels when gold was in full bear market retreat as opposed to the current two - year bull market that is alive and well and making progr
Gold BUGS Index) to
gold resides at 2014 levels when gold was in full bear market retreat as opposed to the current two - year bull market that is alive and well and making progr
gold resides at 2014 levels when
gold was in full bear market retreat as opposed to the current two - year bull market that is alive and well and making progr
gold was in full bear market retreat as opposed to the current two - year bull market that is alive and well and making progress.
MC: Balmoral has been drilling on its
Bug Lake
Gold Trend, part
of the broader Martiniere Property in Quebec.
Specifically, they apply wavelet transforms to analyze the degree
of co-movement (coherency) and lead - lag tendencies between changes in the
Gold Bugs Index and gold futures price measured at both short and long interv
Gold Bugs Index and
gold futures price measured at both short and long interv
gold futures price measured at both short and long intervals.
The typical
gold bug's life is one
of grievous woe, unending complaint, violent gnashing
of teeth and dreadful wails
of despair, interspersed with brief moments
of glory.
, Brian Lucey and Fergal O'Connor examine the relationship between
gold miner stock behavior (NYSE ARCA Gold Bugs Index) and the price of gold (COMEX gold futur
gold miner stock behavior (NYSE ARCA
Gold Bugs Index) and the price of gold (COMEX gold futur
Gold Bugs Index) and the price
of gold (COMEX gold futur
gold (COMEX
gold futur
gold futures).
Over time,
gold bugs become Zen - masters
of endurance and patience.
The study compared the main different ways
of diagnosing C - Diff, including the two «
gold - standard» methods: a cytotoxin assay, which looks for the presence
of C - Diff toxin in faecal samples; and cytotoxigenic culture, which looks to see if there are
bugs present in faecal samples that could possibly produce C - Diff toxin.
Instead, this «
gold mine
bug» gets energy from radioactive uranium in the depths
of the mine.
The bead chain is 16 inches long, made
of gold or rhodium plated brass with a lobster clasp, and holds this beautiful little lady
bug coated with red and black enamel.
But I digress, for those
bugs do not take away from my overall impression
of King Arthur's
Gold, which is a great multiplayer game that stands out from the crowd by being something that embraces lunacy and remains grounded with simple mechanics that allow for a variety
of strategies.
Learning that the clue to the whereabouts
of the treasure is to be found in the Edgar Allan Poe story The
Gold Bug, Kincaid and Kickabout finally manage to convince Judy that Jackson is her enemy.
Jerry Goldsmith (1968) **** Bangkok Dangerous Brian Tyler (2008) *** The Banner Saga Austin Wintory (2014) **** Basic Instinct Jerry Goldsmith (1992) ***** Basic Instinct 2 John Murphy (2006) *** Batman Danny Elfman (1989) **** Batman Returns Danny Elfman (1992) ** Batman Begins Hans Zimmer and James Newton Howard (2005) ** Batman v Superman: Dawn
of Justice Hans Zimmer and Tom Holkenborg (2016) * * batteries not included James Horner (1987) *** 1/2 Battle: Los Angeles Brian Tyler (2011) ** Battleship Steve Jablonsky (2012) * Battlestar Galactica Richard Gibbs (2004) ** Battlestar Galactica: Season One Bear McCreary (2005) ** 1/2 Battlestar Galactica: Season Two Bear McCreary (2006) ** 1/2 Bears George Fenton (2014) **** Beat the Drum Klaus Badelt and Ramin Djawadi (2003) **** The Beautiful Country Zbigniew Preisner (2004) **** A Beautiful Mind James Horner (2001) **** Bee Movie Rupert Gregson - Williams (2007) **** Being Julia Mychael Danna (2004) **** Belle Rachel Portman (2014) *** Beloved Infidel Franz Waxman (1959) ** 1/2 Below Graeme Revell (2002) * Ben - Hur Marco Beltrami (2016) ** Beneath the Planet
of the Apes Leonard Rosenman (1970) **** Beneath the 12 - Mile Reef Bernard Herrmann (1953) ***** Beowulf Alan Silvestri (2007) *** The Best Exotic Marigold Hotel Thomas Newman (2012) **** The Best
of Everything Alfred Newman (1959) *** The Best Offer Ennio Morricone (2013) **** 1/2 The Betsy John Barry (1978) **** A Better Life Alexandre Desplat (2011) **** Between Heaven and Hell and Soldier
of Fortune Hugo Friedhofer (1956/5) ***** Beyond Borders James Horner (2003) **** Beyond Rangoon Hans Zimmer (1995) **** 1/2 Beyond the Gates Dario Marianelli (2005) **** Beyond the Poseidon Adventure Jerry Fielding (1979) **** 1/2 The Beyondness
of Things John Barry (1998 concept album) ***** The BFG John Williams (2016) *** 1/2 Bhopal: A Prayer for Rain Benjamin Wallfisch (2014) **** The Bible Hans Zimmer and Lorne Balfe (2013) * Bicentennial Man James Horner (1999) **** 1/2 The Big Bounce George S. Clinton (2004) *** The Big Bus David Shire (1976) *** The Big Empty Brian Tyler (2003) ** 1/2 Big Fish Danny Elfman (2003) *** 1/2 The Big Kahuna Christopher Young (1999) *** 1/2 Big Miracle Cliff Eidelman (2012) *** The Big Sleep Jerry Fielding (1978) **** Big Wednesday Basil Poledouris (1978) **** Bilal: A New Breed
of Hero Atli Örvarsson (2016) *** Birdman
of Alcatraz Elmer Bernstein (1962) ***** Birth Alexandre Desplat (2004) **** The Birth
of a Nation Henry Jackman (2016) *** Bite the Bullet Alex North (1975) ***** Black Chris Tilton (2006) **** The Black Bird Jerry Fielding (1975) **** 1/2 The Black Cauldron Elmer Bernstein (1985) *** 1/2 The Black Dahlia Mark Isham (2006) ***** Black
Gold James Horner (2011) **** 1/2 Black Hawk Down Hans Zimmer (2001) **** 1/2 The Black Hole John Barry (1979) **** 1/2 Black Panther Ludwig Göransson (2018) **** Black Rain Hans Zimmer (1989) * Black Robe Georges Delerue (1992) **** Black Sails Bear McCreary (2014) **** The Black Stallion Carmine Coppola (1979) and The Black Stallion Returns Georges Delerue (1983) **** Black Sunday John Williams (1977) *** 1/2 The Black Tulip Christopher Young (2010) **** Black Widow Michael Small (1987) *** Blade II Marco Beltrami (2002) *** Blade Runner 2049 Hans Zimmer and Benjamin Wallfisch (2017) ** Bless the Child Christopher Young (2000) ***** Blizzard Mark McKenzie (2003) **** 1/2 Blood Diamond James Newton Howard (2006) *** 1/2 Blood In, Blood Out Bill Conti (1993) **** Bloodline Ennio Morricone (1979) *** The Blue Lagoon Basil Poledouris (1980) **** The Blue Max Jerry Goldsmith (1966) ***** The Blue Planet George Fenton (2001) ***** Bobby Jones: Stroke
of Genius James Horner (2004) *** Body Double Pino Donaggio (1984) **** Body Heat John Barry (1981) ***** The Bodyguard Alan Silvestri (1992) ** Bolt John Powell (2008) *** 1/2 Bonnie & Clyde John Debney (2013) *** 1/2 Book
of Blood Guy Farley (2009) *** The Book
of Henry Michael Giacchino (2017) *** The Book
of Stars Richard Gibbs (1999) *** 1/2 The Book Thief John Williams (2013) **** Born in China Barnaby Taylor (2016) **** Born on the Fourth
of July John Williams (1989) ***** The Bounty Hunter George Fenton (2010) *** The Bourne Identity John Powell (2002) *** 1/2 The Bourne Supremacy John Powell (2004) *** 1/2 The Bourne Ultimatum John Powell (2007) **** The Bourne Legacy James Newton Howard (2012) ** The Boy in the Striped Pyjamas James Horner (2008) **** 1/2 The Boys from Brazil Jerry Goldsmith (1978) ***** The Boxtrolls Dario Marianelli (2014) *** 1/2 The Boy Who Could Fly Bruce Broughton (1986) **** Brainstorm James Horner (1983) ***** Brake Brian Tyler (2012) *** Brannigan Dominic Frontiere (1975) **** The Bravados Alfred Newman and Hugo Friedhofer (1958) *** The Brave Little Toaster David Newman (1986) **** 1/2 The Brave One Dario Marianelli (2007) ** 1/2 Breach Mychael Danna (2007) **** Breakheart Pass Jerry Goldsmith (1975) *** 1/2 Breakdown Basil Poledouris (1997) **** Breakout Jerry Goldsmith (1975) *** Breathe Nitin Sawhney (2017) *** The Bride Maurice Jarre (1985) **** The Bridge at Remagen Elmer Bernstein (1969) **** Bridge
of Spies Thomas Newman (2015) **** 1/2 Bridget Jones's Baby Craig Armstrong (2016) *** Bring Me the Head
of Alfredo Garcia and The Killer Elite Jerry Fielding (1974/5) ***** Broadcast News Bill Conti (1987) *** Broadchurch Ólafur Arnalds (2015) **** 1/2 Broken Arrow Hans Zimmer (1996) * Broken Horses John Debney (2015) *** 1/2 Bruc Xavier Capellas (2010) *** 1/2 Bruce Almighty John Debney (2003) *** The Bucket List Marc Shaiman (2007) *** Buddy Elmer Bernstein (1997) ****
Bug Brian Tyler (2006) *** A
Bug's Life Randy Newman (1998) **** 1/2 Bugsy Ennio Morricone (1991) *** 1/2 Bullet to the Head Steve Mazzaro (2012) *** Bulletproof Monk Eric Serra (2003) *** The «Burbs Jerry Goldsmith (1989) *** 1/2 Bury my Heart at Wounded Knee George S. Clinton (2007) *** 1/2 The Butterfly Effect Michael Suby (2004) *** 1/2 By Love Possessed Elmer Bernstein (1961) ****
Long before that rascally
Bugs Bunny tormented Elmer Fudd in cartoon shorts, British author and illustrator Beatrix Potter's Peter Rabbit was the
gold standard
of naughty anthropomorphic carrot crunchers.
Loosely inspired by real events, Stephen Gaghan's (Syriana) satirical drama
Gold plays like some sort
of bug - eyed, whiskey - swilling love child
of The Wolf
of Wall Street and The Big Short.
The following year, on August 1, 2000, Disney saw fit to include A
Bug's Life as part
of its
Gold Collection DVD line.
Since then he has published a book every two to five years: Prisoner's Dilemma (1988), The
Gold Bug Variations (stories, 1991), Operation Wandering Soul (1993), Galatea 2.2 (1995), Gain (1998), Plowing the Dark (2000), The Time
of Our Singing (2003), The Echo Maker (2006), Generosity (2009), Orfeo (2014) and The Overstory (2018).
Edgar Allan Poe, An Appreciation Life
Of Poe, By James Russell Lowell Death
Of Poe, By N. P. Willis The Unparalleled Adventures
Of One Hans Pfall The
Gold Bug Four Beasts In One The Murders In The Rue Morgue The Mystery
Of Marie Rogêt The Balloon Hoax Ms. Found I...
It takes a lot
of guts in this day and age to go against the
Gold Bugs.
As a «
gold bug», I'll tell you why most
of us aren't commenting.
Perhaps no «
gold bugs» bother commenting on this, as every single one
of your tired, trodden bulletpoints has been addresses hundreds
of times already, but yet, you found it necessary to write a new article with your «unique insight».
By contrast, the supply
of gold is limited by the high cost
of mining, so
gold bugs consider it a more reliable store
of value.
BUGS stands for Basket
of Unhedged
Gold Stocks.
The NYSE Arca
Gold BUGS Index is a modified equal dollar weighted index of companies involved in gold min
Gold BUGS Index is a modified equal dollar weighted index
of companies involved in
gold min
gold mining.
Filed Under: Investing Tagged With:
Gold,
Gold Bugs, goldbugs, the yellow metal Editorial Disclaimer: Opinions expressed here are author's alone, not those
of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any
of these entities.
Disclaimer - whatever is the antonym
of «
gold bug,» that's me.