Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
Dans la même rubrique

Gold: Professor Wrong Says "Don't Buy" Again

IMG Auteur
Publié le 28 mai 2010
528 mots - Temps de lecture : 1 - 2 minutes
( 0 vote, 0/5 )
Imprimer l'article
  Article Commentaires Commenter Notation Tous les Articles  
Notre Newsletter...
SUIVRE : Bullion Vault
Rubrique : Or, Argent et Monnaie





Phew! That was a close call from our tenured contrarian indicator...

YIKES! FOR ONE awful moment just then, I thought maybe the top was in.

"Gold has become the favored hedge against financial and monetary uncertainty," said Niall Ferguson, Harvard's financial history professor, on Monday.

"It's certainly a time-tested way of coping with really turbulent markets."

Oh cripes! Niall Ferguson – our tenured contrarian indicator – now says gold is a proven defense against investment stress. It's taken 11 years and 356% gains in gold, but he's finally got it.

That's the top. Sell!

Oh, hold on – "A lot of the upside is already there," Ferguson went on, live by video-link to the Wall Street Journal. "The time to buy was in 1999, not 2010..."

Phew! As you were, then, bloody-minded gold buyers. And as you relax, safe in the knowledge that Professor Wrong still says you shouldn't buy, let's remind ourselves just what it was he advised 11 years ago – back in 1999 – the "time to buy gold" as he now puts it...

"The twilight of gold appear[s] to have arrived. True, total blackout is still some way off...Gold has a future, of course.

"But mainly as jewelry."

Fast forward to late 2008 – some $445 higher per ounce for gold, slap-bang amid the post-Lehmans Crash crisis – and Professor Ferguson was at it again.

"I have been debating today whether gold bars really are the answer," Ferguson confessed to the New York Magazine when quizzed about his portfolio for a puff piece that November.

But "they probably aren't," he decided...thereby leaving another $470 per ounce on the table over the last 18 months.

Now he says 2010 is not the time to buy gold either. So, given what happened when he rejected the idea in mid-1999 and then in late 2008, expect another $400-or-so on the price before the Laurence A.Tisch Professor of History next weighs in with his forecast.

The man whose last TV-and-book blockbuster, The Ascent of Money, concluded that "the state-owned bank [was] now close to extinction"...just as the UK nationalized one-third of its finance sector, and the US Fed bought $2 trillion of failing bank assets...now advises that "There are other ways to protect yourself, and maybe somewhat smarter ways."

Missing the point entirely once more, Ferguson recommends – instead of gold – buying Norwegian and Swiss government debt for protection from the sovereign debt crisis.

Clang! Clang! Everybody out!


Adrian Ash

Head of Research



You can also Receive your first gram of Gold free by opening an account with Bullion Vault : Click here.



City correspondent for The Daily Reckoning in London, Adrian Ash is head of research at BullionVault.com – giving you direct access to investment gold, vaulted in Zurich, on $3 spreads and 0.8% dealing fees.


Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.




<< Article précedent
Evaluer : moyenne :0 (0 vote)
>> Article suivant
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
Top articles
Derniers Commentaires
Le référendum est-il la bonne so...
Charles Sannat, dans son émission, fait référence à De Gaulle: " quand on est couillonné, on s'en va !". C'est beau comme un camion, malheureusemen...
Le référendum est-il la bonne so...
Maintenant que l'Etat islamique utilise de l'or et de l'argent comme monnaies, la manipulation des cours à la baisse pourrait même trouver une just...
Le référendum est-il la bonne so...
04 juil.Christus Regnat1
@Samideano A combien seriez-vous vendeur de votre argent métal ??? Merci pour votre analyse, et oui JP MORGAN a compris le potent...
La police va mal
04 juil.Christus Regnat
Vidéo très intéressante... Merci SEIZE !!!
Le référendum est-il la bonne so...
04 juil.RLG2
Totalement d' accord avec vous en ce qui concerne la banque J.P.Morgan et sa stratégie . Ils accumulent de l' argent a bas prix pour se faire des m...
Le référendum est-il la bonne so...
04 juil.Monrose0
Merci à Jean L pour cette référence à l'éditorial de Jacques Sapir qui ébranle en effet. Il conforte la position de Marine Le Pen qui non seulement...
Le référendum est-il la bonne so...
03 juil.Jean L.4
J'attire votre attention sur l'article suivant de Jacques Sapir sur RT France : http://francais.rt.com/opinions/3916-crises-devoilement A ...
Le référendum est-il la bonne so...
03 juil.samideano4
SILVER ET JP MORGAN Comme le marché de l'argent est totalement contrôlé par JP MORGAN, je pense qu'ils vont faire pression à la baisse pou...
Articles les plus commentésFavorisPlus...
Flux d'Actualités
Nouvelles des Sociétés Minières
Change of Auditor
0,24 CA$-2,04%Trend Power :
Communiqués de Presse
Gray Rock(Au)GRK.V
Gray Rock Closes Non-Brokered Private Placement
0,02 CA$+0,00%Trend Power :
Communiqués de Presse
Bowmore Closes First Tranche of Private Placement and Resignation of Board Member
0,07 CA$+0,00%Trend Power :
Communiqués de Presse
Newmont Mining Acquires Cripple Creek from AngloGold
23,67 US$+2,33%Trend Power :
Communiqués de Presse
Newmont Mining Asset Optimization Efforts Encourage Analysts
23,67 US$+2,33%Trend Power :
Communiqués de Presse
Teuton’s Harry and Silver Crown Properties located West and East of Ascot’s Dilworth Property up for Option
0,08 CA$-5,88%Trend Power :
Communiqués de Presse
Royal Dutch Shell(Oil)RDSA.AS
This Week In Energy: Top 4 Reasons Oil Prices Are Heading Back Down
25,54 €UR-0,66%Trend Power :
Communiqués de Presse
Petrobras to Sell Stake in Bijupira & Salema Fields for $25M - Analyst Blog
8,83 US$+2,08%Trend Power :
Communiqués de Presse
Royal Dutch Shell(Oil)RDSA.AS
Shell to Go Ahead with GoM Appomattox Deepwater Project - Analyst Blog
25,54 €UR-0,66%Trend Power :
Communiqués de Presse
BP plc(Ngas-Oil)BP
BP to Settle Federal, State GoM Oil Spill Claims for $18B - Analyst Blog
41,29 US$+5,14%Trend Power :
Communiqués de Presse
Publication de commentaires terminée