Robert Prechter on Goldseek Radio Jan. 28, 2011

[Zuppos123]

I'm always AMAZED at how people think Prechter is accurate but he's often WAY, WAY out. Around May 16, 2010 he said that gold had topped out. Well, it was about $1200 ounce, barely pulled back and has since shot to $1800: Here's an excerpt:

In addition to the technical hurdles gold faces, the extreme level of bullish sentiment could be A cornerstone of Prechter's argument is the 98% bullish sentiment on gold. This is the level of sentiment that has often accompanied major turning points.

[frankzakzak]

Elliot Wave doesn't work.  (Except in hindsight)

[FreedomAtRisk]

hows that silver short RP??

[misterman6000]

@FreedomAtRisk I personally think that Robert Prechter works for the government and he is trying to sell the deflation argument to the rest of the world while world governments are all preparing for hyperinflation to inflate these massive debts away!! He does not want the little guy to beat the system LOL

[meetMr7]

He's not a credible analyst. His absolute top in this rally was 11,000. We passed that like a train. I remember his right hand man screaming " top right here! " on the web site home page. The market was in the mid 9,000's.

[meetMr7]

@meetMr7 and of course he's laying low now. Disappeared with the subscriber loot.

[drkevincampbell]

Explain money printing? The Federal reserve system creates reserves to the banks who then lend money into creation. The Fed does not print money. The fractional reserve system lends money into creation. No lending and you have a contraction of the money supply. Fed printing money is a fallacy. Without a loan to create the money, there is no money printing. The bond market restrains the Fed.

[misterman6000]

@drkevincampbell The Fed actually does not print money; it creates a computer credit on the banks balance sheet. The idea that banks have to make loans to generate price inflation is not necessarily true-its a myth actually; if the Fed credited every banks reserves with $100 trillion each. Whether or not that is lent I will still think twice before buying a 30 year bond. Its also about the potential future value of the dollar

[heptikus]

The US and the world will be going through major financial rehab. We're addicted to borrowing and moderate inflation. Those who get safe now will benefit, imo.

[whitechocolatespace]

What the hell does Prechter mean '..so many IOUs will go up in a puff of smoke." That would mean the US gov't would default on its debt, wipe out the Social Security trust fund, and have interest rates go to infinity. In effect, sending the economy back to the stone age. So the same politicians he claims only think in the short term will suddenly get religion and default by refusing to redeem the IOUs. Because that's the only way they're going to go up in a puff of smoke.

[aardvaark069]

@whitechocolatespace reads his stuff. He's actually calling for nearly the end of the world. He HAS moderated though. For awhile he was saying that the dow would fall to btween 500 and 46! That's 46 as in two digits. I think he's only calling for 1000 or so now. What a relief, right?

[whitechocolatespace]

@aardvaark069 I actually read his book, 'Conquer the Crash' either last year or 2009.  Like I said, it doesn't make sense the gov't didn't let the GSE or the banks default but will default on their own bonds. The political pressure is too great.

[SidneyBou]

We are waiting for all the stocks on the Dow to have a price equal to one oz of gold. Price keeps going up but it keeps buying less and less. Good Luck!

[rolficus]

those crazy eyes hes hypnotizing me to sell ! sell ! sell !

[wavetimerny]

robert and the boys over at ewi are good friends of mind for 30 yrs now the fed as been using a hft model the last 7 months what I understand in the log models they use are based on5 tools as you have seen the pull backs are smaller and shorter I have a strong backround in math I have seen the base for this model its about to turn on 3/14 to first top with the second top on 6/17/ based on bell curve

[orangedac]

@wavetimerny

so are you saying the stock market will top in june 2011?

[tonyculotta]

Robert Prechter is totally wright. We will see a major correction any moment

[BlackNapkins86]

Gold short, neutral on silver. Oil short unless we get above 100.

[PurpleHeart1]

if you listen to this guy, you'll end up broke

[MrGideonsPress]

Since 2002 he's been telling investors to wait for the next "real" buying opportunity. I don't believe him anymore. He doesn't see both sides of the market.

[drkevincampbell]

Gold Cartel drove up Gold bubble using ETF's. Don't get caught holding gold much longer. A huge crash is coming in gold. Many will be wiped out.

[dante7723]

The only thing Mr Prechter will do with all his green back is smoke it hyperinflation by 2013 is writen in stone ........In 2008 when the all the markets were crashing around the world you had shortages of gold and silver in minutes another massive crash like 2008 will be the end of paper money .........

[lintburger]

I've come down to the point where I ask myself who's been right longest and who do I trust, I think Prechter will be right eventually, we will have deflation with a vengence but his timing is wrong. Inflation, hyperinflation, crash, deflation. Gold will be the new currency.

[jefftri]

One of my favorite sites, mostly because of the interviewer. He asks the best questions and is really tuned into what the discussion is.

[stephenbarron725]

its all about when the music stops ,who has a seat at the table , trust the facts and trends .WE ARE not even invited to the party....get your money out of the banks and the markets..buy real goods. THE QE BUBBLE IS GOING TO BURST IN 2011.

[stephenbarron725]

its all about when the music stops ,who has a seat at the table , trust the facts and trends .WE ARE not even invited to the party....get your money out of the banks and the markets..buy real goods

[stephenbarron725]

its alabout when the music stops ,who has a seat and trust the facts were not even invited to the party....get your money out of the banks and the markets..buy real goods

[crayrayc]

wow this guy is so full of shit! if qe is not reason why stocks are going up then someone go shit in his lawn as he doesn't think it stinks

[hummarstra]

Prechter was bearish on gold all last year. DEAD WRONG.

[drkevincampbell]

Bob is on target. The inflation hype does not make any sense. We should see deflation first followed by hyperinflation after 2015.

[Ayess2008]

@drkevincampbell The average family has a limited income and when food and energy - the most important consumption items for the average family - go up (price inflation) then large ticket items like new cars and houses have a drop in demand and subsequent drop in price (deflation). If wages were rising in tandem with inflation, which they aren't, then this would be different.

I like Bob, but he's wrong here. Copper, cotton, soybeans - all at all time highs - that's inflation.

[ednan9]

bears hate precther but still listen to him. Boy, is he been wrong in his predictions, talk about egg all over his face. Yet, a lot of people still want to listen to him and hate him passionately.

[frank299]

Prechter is as right as a broken clock. He has been consistently wrong since 2009 when he suggesting to not be in equity and be in US$ and calling for tops in commodities. Don't listen to his lies and false claims. He never suggested to buy equity in this rally. Ask for proof.

[misterman6000]

This true; most americans have been engrained with the consumerism mentality of the US economy as a result savings was frowned upon. People though if they had a house, stocks, and a "safe" civil service pension savings was not necessary. Now, the best you can do besides precious metals is to buy dried and canned foods for a little 6 months for weather the coming storm

[LordOfRuin]

Hey guys i'm a UK citizen living in merry old england, and i'm holding almost half my wealth in US dollars, I'm guessing by all the comments in here, i'm going to get wiped out when the hyperinflation storm comes right?

[kymopar]

@LordOfRuin get on ebay..and buy up all the silver you can with your U.S. dollars..

[misterman6000]

@LordOfRuin Correct; if there is deflation; this will unmask the US's inherent insolvency and the USD is in serious shit with the credit risk ladden bond maket if there is inflation, the US will repay its debt in watered down dollars. PS. the plunge protection team is munipulating the markets

[TheBullionBull]

@LordOfRuin Agriculture, mining, energy, gold, etc are assets that might hedge decline in the dollar.

[silvergoldhedge]

Robert Prechter is keen on keeping people in the paperponzi scheme! I dont trust the guy.

[eesloan4]

@silvergoldhedge Eh I don't think he has bad intentions. He is a libertarian and is pro gold and anti government meddling. His theory is that because so many dollars are owed, the dollar would be very difficult to inflate. When the next deflation comes, dollars will become scarce and its purchasing power will go up significantly. Agree or disagree, he is not trying to promote fiat currencies. He believes that gold is real money.

[easystockdater]

@silvergoldhedge PRECHTER ADVOCATED 10 YEARS AGO TO BUY GOLD .... THAT WASNT REALLY THAT BAD OF AN ADVICE.

[TiredOldFart]

@silvergoldhedge Lou Rukeyser gave this clown the boot in 1987. He was calling dow 36,000 then. He had all his subscribers out of gold when gold was $1000 and out of the snp after the market was at the minimum of 2008. Bob is an excellent contrarian indicator.

[brzgixxer]

I like Prechter, but he didnt get it.... not this time!!! He claims the FED cannot manipulate markets and they are much more " independent" than people think. To prove this, he claims that QE II did not push precious metals up, matter of fact, prices of gold and silver have been hit down. Gosh, this happens EXACTLY because the PM markets are blatantly manipulated by the establishment (FED and US/Western governments!!!!!!!!!!!!) . The man is completely BLIND!!!!!!!!! What a pitty...........

[proderivat]

He is absolutely right ! Next leg down will come soon.

[stuzapusa]

This is good info. He is basically saying, be safe!

[connectingdots1]

"...that means you should have alot of your cash store in green backs.." Ya right!...who's he trying to fool and then to say gold isn't going anywhere? WoW, how lost is this guy?

[BMWg84]

This fool wants me to get into an asset the world is intentionally trying to kill?

[clearasvodka]

The Fed is pumping money into the market. Plain and simple. Corporations are also pumping up their stock price so that executives can cash out. Just have a look at what the presidents plunge protection team does. It is in the governments best interests to pump up this market. The goverment and banks have been manipulating markets for years. Every other bit of news is negative. The stock market is one area they can point to and say things are recovering, but it is a lie.

[connectingdots1]

@clearasvodka OK at least your aware of that fact also, I almost stop listening when I heard him say his BS piece on market manipulation.

Anyways, I've come to realize this dumbass doesn't know what he's talking about half the time.

[misterman6000]

@clearasvodka Yes, no matter deflation or inflation the dollar is finished; either the US outright default in the deflation or inflates it debt with waterdown dollars, period!!

[SchiffRadiodotcom]

Robert Prechter sounds like white noise, so hard to listen when you're multitasking

[Icriedtoday]

Prechter says that the dollar index hasn't changed since 2008! Dude, look here! The index measures along with all other vanishing currencies. How about measuring the dollar against commodities? THEN you will see the inflation that you are now blind to.

[Lurie2010]

Prechter, you're quite a large fool. Read Zero Hedge...and Turd.

[JohnnyHorton]

he says look for safety in cash???? treasury bonds?????  i don't think so.

[edmack4me]

He does not consider the effect of govt manipulated markets eg gold & silver over a very long time.

[endlessmountain]

@watchersx if he loves cash and doesn't like gold at these cheap prices then it has to make me wonder when cash has no intrinsic value

[CoinsFreedom]

Waves & charts fail with manipulation.

[endlessmountain]

@CoinsFreedom Charts can never fail unless you put inaccurate data in, because charts are results of what has happened.

[CoinsFreedom]

@endlessmountain Can charts fail when silver and gold are naked shorted? You know better. Elliot Wave is based on historical models. All bets are off when the Gov Banksters break the rules....like a Flash-Crash your charts never foretold. FAIL

[connectingdots1]

@endlessmountain Sorry endlessmountain but charts do fail in fact they often fail otherwise more of us would be on the wining end...instead of losing.

For example, none of your charts spoke of sudden increase of silver back in August of 2010...but the Webbots did hence the reason I confidently made my video on June 22nd telling subbers to buy silver has it would soon take off..charts didn't show that or you would have made a video telling your subbers to load up.

I hope your telling to buy NOW?

[endlessmountain]

@connectingdots1 look back to the august 24th silver log as well as the ones before then as there were two indicators I pointed out to buy then. You apparently must be closed minded or very forgetful.

Also Im not about (buy here, sell here, short here, cover here), thats not my job.. my job is more of a teacher so i will not say buy now

[connectingdots1]

@endlessmountain me close minded? lol..I guess you haven't had a look at my channel,I not only give financial advice and also when to buy physical but also several Playlist that range from Health,freedom & liberties,Dangers of vaccines,NWO bastards,Silver stuff a few more including the Webbots so please, don't call me close-minded..I'm one of most open person you'll meet out here for heavens sakes.Heck last night I gave a neighbor a few links & rundown to cure cancer.

Do U have a link to slv log

[endlessmountain]

@connectingdots1 I have proven it when you said they all would win based on tech analysis as well as your comment on not showing the breakout. Yet you say do you have a link, and you should know that by now because if you tracked my results by stating I DID NOT SAY THIS, then you would have NOT SEEN it on my blog.

So yes, based on technical analysis you very closed minded.

[connectingdots1]

@endlessmountain I don't watch your Blog 'cause as I told you, I'm more accurate than a chart, there's NOT a single person using charts had the Balls to predict and Firmly say that silver would take off after June except for me, if U have proof you did then provide the link. BUT as you stated, you DON'T tell when to buy or sell and I've notice that in your Vids

Remember me even asking you a few times but you seem a little hesitant in your replies since then I stick w/ my research & have accuracy

[endlessmountain]

@connectingdots1 have a nice life.

[connectingdots1]

@endlessmountain lol...ditto!

[endlessmountain]

@connectingdots1 I've given a full reply on my blog to this comment.

[Alexiscom1]

I think he is wrong on his deflationary prediction since he is contradicting himself many time in his presentation by perfectly describing the hyper-inflationary fundamentals