The Sarcasm Report v.226

A third sarcasm report in a row? What can it mean?

July 24, 2015
Mish: Hedge Funds Net-Short Gold First Time in History; Contrarian Views

First time in history? First time in geological history? First time in human history? First time in recorded human history? Does this predate the bible? Inquiring minds want to know!

Hedge funds are holding the first ever bet on a decline in gold prices since the U.S. government started collecting the data in 2006.

Ah, the extensive history that goes all the way back to 2006. That's the year I sold gold for a 50% profit. That must mean that "history" also shows that I never bought gold, since my purchase was in 2004, long before "history" began. Put another way, "history" shows that I only sell gold.

I remember 2006 well, which is odd given how long ago it was. I was just a 42 year-old retired kid when the desire to sell gold entered my thoughts, barely old enough to feed myself or start a blog. In fact, it wasn't until the Great Recession appeared imminent in 2007 that the blogging thing became a reality.

Good times. I will always look back with fond memories at that distant era of my life.

Sorry Mish. Everything is fair game to a sarcastic heckler. Guilty as charged. ;)

Disclosure: I have little opinion regarding the current price of gold. I have claimed in the past, when gold first breached $1000, that hoarded toilet paper would be a better (safer) long-term store of value. I stand by that but it's just an opinion. I would not dare to predict what others will ultimately pay for gold, any more than I would dare to predict what investors in other assets prone to bubbles would ultimately be willing to pay.