Rick Santelli is knowledgable. Dennis Kneale is a fool. Kudlow is a clown.
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Trojan,
You said Erin Burnett was REAL cute, and now Becky Quik is Hot!!! Dude, do you watch CNBC for economic news or for staring at the female anchors? Man, I guess once a Trojan, Always a Trojan. Do you also think the chunky Asian anchor is cute too? Now, that girl needs to lose some weight.
The only two guys i listen to on CNBC is Art Cashin and Rick Santelli. These guys know what they are talking about.
She's right. It doesn't. I can't do anything with it productive outside of IC's. You noticed Schiff agreed with her premise.........
It has implied value. Cosmetic diamonds are the same. No intrinsic value.
She formerly worked for Goldman. Erin is no dummy. Your thinking anyone on Fox Business outside of Liz Clayman.
If the company you worked for made you sign an agreement to NEVER short a stock/bond/ETF etc., or buy/sell puts and calls, and all you could do is invest in mutual funds and not individual stocks, can you honestly tell me that you wouldn't be a market cheerleader? Hell yeah you would, your entire portfolio depends on the market going up. Just sayin...
I believe that no currency has intrinsic value. It is only worth what people think it is worth. It is worth the amount of goods or services one can obtain with it. Gold as a currency is no different. If people believed gold had no value, would it have any? Paper currencies backed by gold are no more or less valuable than paper currency alone. When people believe a currency to have value, i.e. when they can use it in financial transactions as a medium of exchange, then it has value.
Exactly correct. Which means her question is stupid. And Erin Burnett is not all that intelligent, but rather just repeats whatever nonsense she hears.
Currencies have extrinsic value, or value that people ascribe to them. That's all. But to ask what intrinsic value gold has is to imply that other currency has intrinsic value, which it does not.
Wheat has intrinsic value. Your home has intrinsic value. Etc. Etc. Etc.
That was my point. I can't do much with a pallet of gold bars, but a trainload of lumber certainly has some intrinsic utility.
The point Erin was making was quite minor and is being overblown here (she was speaking of gold compared to other commodities). While you guys have an tiff over weither or not Erin is or isn't correct and speculate in gold, I have somewhere in the neighborhood of 600 tons of alfalfa for sale FOB Kettleman City California.
You know, intrinsic assets.
usctrojanman29_IHB
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Hahaha, let's see if the market can show us how big of an idiot cheerleader he is. The Bear market is far from over, just like the housing market is far from ending the drop in prices.Nude said:
awgee_IHB
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Now if the US deficit is not being funded, then that means that the fiscal deficit is simply being monetized by the Fed. Or what else can it mean?
Hugo Salinas Price
Hugo Salinas Price
awgee_IHB
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usctrojanman29_IHB
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Ok, so there is monetary inflation but commody prices are still falling. The Fed is essentially replacing the destroyed liquidity from bank credit to keep things from coming to a grinding halt.awgee said:
PANDA_IHB
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usctrojanman29 said:
Trojan,
You said Erin Burnett was REAL cute, and now Becky Quik is Hot!!! Dude, do you watch CNBC for economic news or for staring at the female anchors? Man, I guess once a Trojan, Always a Trojan. Do you also think the chunky Asian anchor is cute too? Now, that girl needs to lose some weight.
The only two guys i listen to on CNBC is Art Cashin and Rick Santelli. These guys know what they are talking about.
usctrojanman29_IHB
New member
Uh oh, I got caught. haha I watch it more for the tickers and to see they try to cheerlead the market and bring talking heads who tell them what they want to hear, it entertaining to hear how wrong most of them are. Once in a long while they bring out someone who is a realistic and tells it how it is. I usually watch from like 6am until 9am when I leave for work.PANDA said:
PANDA_IHB
New member
Trojan,
Wow, you watch CNBC every day from 6am - 9am? That's pretty impressive.
Erin Burnett was telling Peter Schiff the other day that Gold has no intrinsic value.. I was scratching my head and saying, "What the ?????" "huh? I guess you can be a communications major and have zero knowledge of economics and still be an anchor on CNBC.
Wow, you watch CNBC every day from 6am - 9am? That's pretty impressive.
Erin Burnett was telling Peter Schiff the other day that Gold has no intrinsic value.. I was scratching my head and saying, "What the ?????" "huh? I guess you can be a communications major and have zero knowledge of economics and still be an anchor on CNBC.
no_vaseline_IHB
New member
PANDA said:
She's right. It doesn't. I can't do anything with it productive outside of IC's. You noticed Schiff agreed with her premise.........
It has implied value. Cosmetic diamonds are the same. No intrinsic value.
She formerly worked for Goldman. Erin is no dummy. Your thinking anyone on Fox Business outside of Liz Clayman.
usctrojanman29_IHB
New member
Yeah, I usually wake up around 6am and look to see if there are any trades to be made. They hire the cute girls from the Ivy League who look good on camera, but aren't necessarily economic gurus. The one prerequisite to being an anchor is that you have to be a stock market cheerleader.PANDA said:
graphrix_IHB
New member
usctrojanman29 said:
If the company you worked for made you sign an agreement to NEVER short a stock/bond/ETF etc., or buy/sell puts and calls, and all you could do is invest in mutual funds and not individual stocks, can you honestly tell me that you wouldn't be a market cheerleader? Hell yeah you would, your entire portfolio depends on the market going up. Just sayin...
IrvineRenter_IHB
New member
awgee said:
I believe that no currency has intrinsic value. It is only worth what people think it is worth. It is worth the amount of goods or services one can obtain with it. Gold as a currency is no different. If people believed gold had no value, would it have any? Paper currencies backed by gold are no more or less valuable than paper currency alone. When people believe a currency to have value, i.e. when they can use it in financial transactions as a medium of exchange, then it has value.
awgee_IHB
New member
“Republics are created by the virtue, public spirit, and intelligence of the citizens. They fall, when the wise are banished from the public councils, because they dare to be honest, and the profligate are rewarded, because they flatter the people, in order to betray them." - Justice Joseph Story (1779-1845) US Supreme Court Justice
awgee_IHB
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IrvineRenter said:
Exactly correct. Which means her question is stupid. And Erin Burnett is not all that intelligent, but rather just repeats whatever nonsense she hears.
Currencies have extrinsic value, or value that people ascribe to them. That's all. But to ask what intrinsic value gold has is to imply that other currency has intrinsic value, which it does not.
Wheat has intrinsic value. Your home has intrinsic value. Etc. Etc. Etc.
no_vaseline_IHB
New member
awgee said:
That was my point. I can't do much with a pallet of gold bars, but a trainload of lumber certainly has some intrinsic utility.
The point Erin was making was quite minor and is being overblown here (she was speaking of gold compared to other commodities). While you guys have an tiff over weither or not Erin is or isn't correct and speculate in gold, I have somewhere in the neighborhood of 600 tons of alfalfa for sale FOB Kettleman City California.
You know, intrinsic assets.
EvaLSeraphim_IHB
New member
Sadly the alfalfa has no intrinsic value to anyone in Irvine, as neither cattle nor horses are allowed. 
Rice, soybeans, buckwheat, durham, or faro, on the other hand . . . Sadly my condo doesn't have the space or load bearing capacity for 600 tons.
Rice, soybeans, buckwheat, durham, or faro, on the other hand . . . Sadly my condo doesn't have the space or load bearing capacity for 600 tons.
IrvineRealtor_IHB
New member
No value???...
