Biderman's Daily Edge 12/23/2011: Invest Safely This New Year

[Robonza]

I am not just dollar cost averaging into gold, I am sterling and euro cost averaging into gold too.

Thanks for your reports Charles, its nice to hear a non hyped view. Cheers mate.

[optionsupdate]

@Robonza check the chart of the 10/30 year treasuries, it was about to spike higher in yields at the time they did the 50% voluntary haircut on greek debt, if yields rise how good an investment will gold be with a 7% 30yr ?

[Robonza]

@optionsupdate Yes, I understand. I may be in gold a bit early but it is a long term play. The play is that people will lose faith in the USD, EUR and GBP as banks print and print. When the faith is lost gold will hold value and paper will slide.

Also, if yields go up, this will force more printing to pay the interest on debt. Printing is super good for things that have intrinsic value.

[optionsupdate]

@Robonza have you followed the comex backwardation story?

[Robonza]

@optionsupdate I follow it a little. I think the Comex is messed up right now due to "the honerable" Jon Corzine stealing everyones money. This forced a lot of commoidity sales which has put the market out of whack. I will be interested to see how things go after we get over this bump.

I can't understand why he is not in jail.

[LibertyandEconomics]

You know and I know that something will come along and change the basically neutral position you have at this moment. I guess that's kind of the point.

[overseachininadoll]

Thank so much, Sir.

[tokyorealestateman]

thank-you for your always thoughtful commentary...never miss it....

[Lexi8888]

Happy Holidays to you and yours. Thanks again for all your brain has to offer. We are listening!

[lynnybee888]

Happy Holidays, Sir ! I listen to your market updates daily & enjoy them. This 3 - minute market wrap up is the only thing I need to listen to ............ goodbye, CNBC & BLOOMBERG. we are going back to a simpler time.