On Bob Brinker today..

[GFB]

Bob's opening monologue was mostly about the upcoming State of the Union speech. Bob listed many of the tax increases and new taxes that Obama plans to roll out, and also gave his opinion about what a wasted opportunity it will all be, since all of that will be dead before it even arrives.

Later in the show Bob had a very interesting caller that gave Bob an opportunity to reiterate how and why he believes all of those that have predicted the collapse of the dollar, should hang their head in shame for scaring people and getting it so wrong for so long. The dollar has, in his words " skyrocketed" amongst the world's leading currencies.

[planosteve]

I don't imagine Bob made any mention that the US dollar is the only currency in the world with anything backing it's value, namely oil. Not that oil is as worth what it was before, but at least it's something.

[GFB]

I don't imagine Bob made any mention that the US dollar is the only currency in the world with anything backing it's value, namely oil. Not that oil is as worth what it was before, but at least it's something.

You want to listen especially to the last hour. You will learn why equating the government spending of today with what John Maynard Keynes was recommending, are in no way correlated. Bob believes equating the two is done strictly for political purposes.

[planosteve]

I don't imagine Bob made any mention that the US dollar is the only currency in the world with anything backing it's value, namely oil. Not that oil is as worth what it was before, but at least it's something.

You want to listen especially to the last hour. You will learn why equating the government spending of today with what John Maynard Keynes was recommending, are in no way correlated. Bob believes equating the two is done strictly for political purposes.

Brinker reminds me of a little kid jumping up and down yelling "we won, we won".
Govt. spending today is far worse than anything Keynes ever imagined. He recommended the govt. run surpluses in the good times and then spend the money when the economy needed help. He would literally crap if he saw the deficit now.

[GFB]

I don't imagine Bob made any mention that the US dollar is the only currency in the world with anything backing it's value, namely oil. Not that oil is as worth what it was before, but at least it's something.

You want to listen especially to the last hour. You will learn why equating the government spending of today with what John Maynard Keynes was recommending, are in no way correlated. Bob believes equating the two is done strictly for political purposes.

Brinker reminds me of a little kid jumping up and down yelling "we won, we won".
Govt. spending today is far worse than anything Keynes ever imagined. He recommended the govt. run surpluses in the good times and then spend the money when the economy needed help. He would literally crap if he saw the deficit now.

Sounds like you HAVE learned something!

[GFB]

The guest is Peter Temin.

A caller just asked Peter.."isn't the U.S. headed for bankruptcy?"

Peter answered succinctly.."as long as people are clamoring to buy your bonds..there is no chance for bankruptcy.. in your lifetime or mine."

[planosteve]

The Brinkster just replied to a caller from Michigan asking about holding silver and gold
He went into a rant about gold screaming it is "just a speculation"
Stocks are not a speculation? Bonds are a sure thing? Real estate is not speculative?
No, his venom is all directed toward gold. The only money authorized in the constitution.

[GFB]

The Brinkster just replied to a caller from Michigan asking about holding silver and gold
He went into a rant about gold screaming it is "just a speculation"
Stocks are not a speculation? Bonds are a sure thing? Real estate is not speculative?
No, his venom is all directed toward gold. The only money authorized in the constitution.

First of all..you should listen on line..you won't be two hours behind. I listen at KFSO in San
Francisco or KNUS in Denver.

What gold is designated or not designated as in the Constitution does not change the "speculation" status of it.

Bob explained very well today why gold is a speculation.

It's because it has no intrinsic value, and it's potential increasing in value is entirely dependent on what people are willing to pay for it. Also, that it is the best example of a "greater fool theory" commodity.

[GFB]

Stocks are not a speculation?

No, ownership of a company is not at all like speculating.

You get earnings..receive dividends..potentially grow, and have a plan for the future beyond.."gee I sure hope some dope comes along that will buy this from me for more than I paid."

[planosteve]

Not to gloat or anything , but comparing GLD to the S&P 550 for the first 2 weeks of the year, gold is up almost 10% ahead.

[GFB]

Not to gloat or anything , but comparing GLD to the S&P 550 for the first 2 weeks of the year, gold is up almost 10% ahead.

You always were a good cherry picker.

[planosteve]

Not to gloat or anything , but comparing GLD to the S&P 550 for the first 2 weeks of the year, gold is up almost 10% ahead.

You always were a good cherry picker.

I'm giving you the current situation. That is not cherry picking.

[planosteve]

The guest is Peter Temin.

A caller just asked Peter.."isn't the U.S. headed for bankruptcy?"

Peter answered succinctly.."as long as people are clamoring to buy your bonds..there is no chance for bankruptcy.. in your lifetime or mine."

I heard him too. I have to give Brinker some credit for having a balls to the wall, full frontal Keynsian economist on his show. Prof. Timons is the real deal. To hear these kind of lunatic ideas actually voiced is rather amazing. I can't imagine any other show that would do that.
He believes that 18 trillion in debt is not a problem because foreigners are still buying our debt. Really! What happens when they quit?
Also, he believes China is in "good condition" and a good model to emulate. I guess we just need to start building brand new cities where nobody wants to live and our economy will be just fine. Yeah, that make sence.

[GFB]

The guest is Peter Temin.

A caller just asked Peter.."isn't the U.S. headed for bankruptcy?"

Peter answered succinctly.."as long as people are clamoring to buy your bonds..there is no chance for bankruptcy.. in your lifetime or mine."

He believes that 18 trillion in debt is not a problem because foreigners are still buying our debt.

You made that up.

[GFB]

What he said was..(in answering a question)..there is no chance for a bankruptcy for the country.

[GRANDPA]

What he said was..(in answering a question)..there is no chance for a bankruptcy for the country.

They couldn't hit an elephant at this dist-

[planosteve]

Here's Honey's take on the gold/silver question call. If the PM's have truly turned the corner, as I believe, Brinker has missed the boat. He is totally irrational on the subject.

GOLD NO INTRINSIC VALUE SO KATY BAR THE DOOR....Caller Rob's follow up question was about gold and silver as an investment.

Brinker replied: "Well as I say it is a speculation. From my point of view, it has no intrinsic value at all other than its speculative value which means what people are willing to pay for. Now you have to understand the reason that there so much of a push to buy gold – you always hear buy gold, buy gold, buy gold regardless of where it is in price. I mean there was just as much emphasis recommendations to buy gold at $1900 as at any other price, as far as I can see – if not more. And I think that the reason that happens is because it's unregulated. In a time that you have something that is unregulated, it's Katie bar the door! And since there's no regulation on recommending gold, you'll sometimes see a tsunami of recommendations regardless of price on gold. I think it is the ultimate greater fool asset… Absent intrinsic value, it's a pure speculation what people are willing to pay for it. I don't own it and I don't have any plans to own it, Rob."

Honey EC: Brinker added this "speculation" GLD to Marketimer in 2009, then took it out in 2013 -- with zero guidance coming or going. As for "intrinsic value," what intrinsic value does paper money have? As for silver, Brinker has not talked about that since the program when he was touting GLD (while it was in Marketimer) and he told the audience that silver (SLV) could be used interchangeably with gold for investment purposes.

[GFB]

Gold has never been something he recommended, nor was it in any of his portfolios.

He did tell people, that if they wished to own gold..ETFs like GLD were the way to go.

But no, he has never said.."gold is something you want to own."

And no question he has been more outspoken lately about his views on owning gold, mostly because some of the callers have been quite confrontational on the subject.

[planosteve]

Gold has never been something he recommended, nor was it in any of his portfolios.

He did tell people, that if they wished to own gold..ETFs like GLD were the way to go.

But no, he has never said.."gold is something you want to own."

And no question he has been more outspoken lately about his views on owning gold, mostly because some of the callers have been quite confrontational on the subject.

From what I've heard, callers asking about gold are pretty calm. It is Brinker that gets all upset talking about it. Like Honey says he "goes on a rant". But, I
imagine a Brinkerhead watching gold go from $250 to almost $2,000 without a word of advice about it from the Brinkster would tend to be "confrontational".

[GFB]

Gold has never been something he recommended, nor was it in any of his portfolios.

He did tell people, that if they wished to own gold..ETFs like GLD were the way to go.

But no, he has never said.."gold is something you want to own."

And no question he has been more outspoken lately about his views on owning gold, mostly because some of the callers have been quite confrontational on the subject.

From what I've heard, callers asking about gold are pretty calm. It is Brinker that gets all upset talking about it. Like Honey says he "goes on a rant". But, I
imagine a Brinkerhead watching gold go from $250 to almost $2,000 without a word of advice about it from the Brinkster would tend to be "confrontational".

I guess you haven't checked the price lately.

The callers are confrontational because most of them BOUGHT their gold when the price was nearing $2,000.

That's the way things like that go, most people get suckered in thinking they found the fountain of youth.

Instead they just tripped over a whole lot more people that thought they found it, too.