On issues that deserve outrage, Denninger's rants are second to none. On issues that don't, he's good at explaining why. And he's got a solid track record of discerning the difference.
really? I've been following the guy for a while and think he is sometimes an idiot. For example, if there are court orders: where are they? Unless he saw the court orders, he just made them up. I could give you a bunch of things he was wrong about. He has a forum where be bans people who disagree with him. He was right about foreclosure gate and others such as the financial bailouts, but totally wrong on his deflation argument and wrong about gold. He was so wrong about gold that he deleted the precious metal area of his website from public viewing.
Regarding the court orders, ICE confirmed that today. I don't know how he got verification of that over the weekend, but he's good at digging around and finding stuff like that.
I'm not sure which 'deflation argument' you're referring to, but he has been arguing since 2006 that deflation would be the natural result of the financial crisis, even when Nouriel Roubini himself was arguing inflation (Roubini quickly reversed himself).
He was completely correct on that, it's deflation that the US Government and Federal Reserve are trying to prevent with massive stimuli and QE1/2. So far they've been successful, but at such a great cost there's no telling whether it's sustainable, or whether Bernanke can wind it down and gracefully exit eventually. Denninger argues no, b/c there's too much bad debt, and credit
Regarding gold, his fundamental thesis is that the data doesn't support the widely-held belief that gold is a good hedge for inflation or deflation, but it does appear to be a good hedge for geopolitical instability. He's posted data that disprove the former notion, which I'm not about to go try to dig up.
Gold has risen over the past ten years, but that time period was characterized by both currency instability, currency inflation, debt deflation, and geopolitical instability in the MidEast and somewhat N.Korea. Good luck trying to extract any causation out of that correlation. Till then, there's nothing to disprove his gold thesis.
He made parts of his website private to keep out the 'moonbats', conspiracy theorists, and 'collapse of the American Empire' cheerleaders, who tend to be most active in precious metals forums.
Whether he had an ulterior motive to hide being wrong about gold, I can't speak to that since I don't follow gold, or his gold forum very closely. Have any evidence of that accusation?
