expatinireland
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- Joined
- Oct 31, 2007
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Great Interview with Ian McAvity
http://www.theaureport.com/pub/na/1182
Ian McAvity on the Economy: "Cockroaches are Coming out of the Closet"
03/04/2008
A couple snippets:
. . .TGR: So, where are we today and where do the charts show you a black swan?
IM: Basically, if people didn’t like the leg that the S&P took – dropping somewhere between 15% and 20% between October and January, depending on how you measure it – I think we’ve got another two legs like that coming. In essence, that first leg was really putting in the top and making the initial breakdown into a full-fledged bear market. The first phase of a bear market typically is greeted by denial. Then the second phase would be when you try to price in reality. The third and terminal phase is the capitulation, where people say, “I’m never going to buy stocks again in my life; the brokers are crooks.” To me, we’re just in the transition from denial to reality. . . .
. . .TGR: What I’ve been hearing is if we’re not going to have a crash by May, we’re going to have a crash in 18 months, because the government is going to do anything and everything to print as much money as possible, and to once again avoid it, avoid it, avoid it. This crash mode just becomes much larger and then again there is the black swan. It surfaces. Other folks are thinking this is 18 months out. That’s what I’m trying to get a handle on.
IM: The key to the world of gold? Whether I’m right in terms of the next few months or others are right and it takes 12 to 18 months, it’s that precipitating crash that then leads to inflate, inflate, inflate – oops, hyper. And that’s when they start throwing money at everything.
TGR: That’s when they go into warp speed.
IM: That’s when you’re putting gold up into the $2,000 or $3,000 or $4,000 neighborhood, Pick a number. At that stage—and the line I use in all of my speeches—an ounce of gold is an ounce of gold. The price of gold is just how many pieces of paper it takes you to throw at me to persuade me to give you some.
Yeah, every time I talk about gold at $3,000 or $4,000, I tell an audience, “Don’t salivate at the prospect. You’re not going to like how it gets there.” The same with a barrel of oil — a barrel of oil is a barrel of oil. And I like to ask an audience, “What’s a dollar?” Oh, it’s a promise backed by a whole bunch of lying politicians. . . .
snip
http://www.theaureport.com/pub/na/1182
Ian McAvity on the Economy: "Cockroaches are Coming out of the Closet"
03/04/2008
A couple snippets:
. . .TGR: So, where are we today and where do the charts show you a black swan?
IM: Basically, if people didn’t like the leg that the S&P took – dropping somewhere between 15% and 20% between October and January, depending on how you measure it – I think we’ve got another two legs like that coming. In essence, that first leg was really putting in the top and making the initial breakdown into a full-fledged bear market. The first phase of a bear market typically is greeted by denial. Then the second phase would be when you try to price in reality. The third and terminal phase is the capitulation, where people say, “I’m never going to buy stocks again in my life; the brokers are crooks.” To me, we’re just in the transition from denial to reality. . . .
. . .TGR: What I’ve been hearing is if we’re not going to have a crash by May, we’re going to have a crash in 18 months, because the government is going to do anything and everything to print as much money as possible, and to once again avoid it, avoid it, avoid it. This crash mode just becomes much larger and then again there is the black swan. It surfaces. Other folks are thinking this is 18 months out. That’s what I’m trying to get a handle on.
IM: The key to the world of gold? Whether I’m right in terms of the next few months or others are right and it takes 12 to 18 months, it’s that precipitating crash that then leads to inflate, inflate, inflate – oops, hyper. And that’s when they start throwing money at everything.
TGR: That’s when they go into warp speed.
IM: That’s when you’re putting gold up into the $2,000 or $3,000 or $4,000 neighborhood, Pick a number. At that stage—and the line I use in all of my speeches—an ounce of gold is an ounce of gold. The price of gold is just how many pieces of paper it takes you to throw at me to persuade me to give you some.
Yeah, every time I talk about gold at $3,000 or $4,000, I tell an audience, “Don’t salivate at the prospect. You’re not going to like how it gets there.” The same with a barrel of oil — a barrel of oil is a barrel of oil. And I like to ask an audience, “What’s a dollar?” Oh, it’s a promise backed by a whole bunch of lying politicians. . . .
snip
