{"id":22715,"date":"2013-10-12T08:00:32","date_gmt":"2013-10-12T12:00:32","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=22715"},"modified":"2013-10-11T16:42:31","modified_gmt":"2013-10-11T20:42:31","slug":"gold-fixation","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/10\/gold-fixation\/","title":{"rendered":"Gold Fixation"},"content":{"rendered":"

\"\"What is it about gold that makes people view it differently than any other asset class, creating an almost religious fixation<\/em>* on the metal?\u00a0 As long-term monetary insurance, you would think that it would be among the more boring items; sort like insurance annuities.\u00a0 But that is not the case.<\/p>\n

Gold is routinely propped up on a pedestal and obsessed upon in the world of money and finance.\u00a0 In actuality, gold is a geological element that has been deemed by humans to be money or to closely track monetary value, with a track record measured in centuries.\u00a0\u00a0 Why, there it is on WebElements<\/a>\u2018 element chart bracketed by things like Mercury, Cadmium and Copernicium, among other 'precious' metals.<\/p>\n

\"\"<\/p>\n

'There is no fever like gold fever' I suppose, and that is what gets many market players in trouble.\u00a0 How can an asset of unquestionable value be trashed so routinely and with such ease when US and global policy makers are taking their inflationary operations to new heights, right out in the open?\u00a0 Why, the US just nominated Bernanke clone Janet Yellen as the new Fed Chair.\u00a0 Gold should skyrocket!<\/p>\n

Well no, it shouldn\u2019t because it hasn\u2019t.\u00a0 As a counter cyclical asset (counter to the economic recovery that policy makers are trying to engineer) its price continues to reside in the dumps as the average market participant still leans toward confidence in policy makers and a view that \"the crisis\" is over; meaning that the crash of 2008 was a 'one off' that was the result of some financial institutions that screwed the pooch and have been brought back in line.<\/p>\n

Gold is simply a value marker and insurance against the possibility that the US crisis in 2008 and the European crisis in 2011 were emblematic of much deeper and ingrained problems that will bubble (no pun intended) up to the surface once again at a place and time yet to be determined.\u00a0 Gold is insurance in support of the idea that new debt can leverage, but not fix, the economy.\u00a0 That is gold's ultimate fixation<\/em>.**<\/p>\n

The bottom line is that gold should not get caught up in some kind of imagined war of good against evil.\u00a0 That is because it is not an idol, it is a tool to be used by right-minded investors to protect themselves against certain financial risks while going about business in an increasingly complex and leveraged financial system.<\/p>\n

If they have fixed<\/em>*** the system, gold is done for now.\u00a0 We'll keep watching gold\u2019s ratios to positively correlated markets for the big picture clues there.\u00a0 If they have not fixed<\/em> the system, people who calmly viewed gold as a value instrument rather than a speculation play in the casino, will be rewarded.<\/p>\n

Meanwhile, I would advise tuning out the gold price micro managers, the gold bug cheering squads and the likes of the Vampire Squid itself, Goldman Sachs, with its 'bearish, no bullish, no bearish\u2026' line.\u00a0 It is all noise.<\/p>\n

* Fixation, def. 1:\u00a0 n., an obsessive interest in or feeling about someone or something;<\/em><\/p>\n

** Fixation, def. 2: n., the action of making something firm or stable<\/em><\/p>\n

*** Fix, def. v., mend; repair<\/em><\/p>\n

Biiwii.com<\/a>, Notes From the Rabbit Hole<\/a>, Twitter<\/a>, Free eLetter<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

What is it about gold that makes people view it differently than any other asset class, creating an almost religious fixation* on the metal?\u00a0 As long-term monetary insurance, you would think that it would be among the more boring items; sort like insurance annuities.\u00a0 But that is not the case. Gold is routinely propped up […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1840,5739,4273,23,5738,5740,7948,3565,5092,4785,307],"class_list":["post-22715","post","type-post","status-publish","format-standard","hentry","category-general","tag-biiwiicom","tag-cyclical-asset","tag-gary-tanashian","tag-gold","tag-gold-fever","tag-golds-ultimate-fixation","tag-guest-bloggers","tag-how-to-trade-gold","tag-nftrh","tag-notes-from-the-rabbit-hole","tag-precious-metals"],"yoast_head":"\nGold Fixation - INO.com Trader's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2013\/10\/gold-fixation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Fixation - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"What is it about gold that makes people view it differently than any other asset class, creating an almost religious fixation* on the metal?\u00a0 As long-term monetary insurance, you would think that it would be among the more boring items; sort like insurance annuities.\u00a0 But that is not the case. 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