“Elon Musk is going to destroy gold”

Lol. This is what investment has become. A couple of wankers making shit up to promote a worthless uncurrency with stunning regulatory risk.

Gold is “boomer”, apparently.

One should always be wary of becoming set in one’s ways but come on.

David Llewellyn-Smith
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Comments

  1. I love his reaction. Trying not to laugh his ass off. “Frankie, you catching this? I don’t know if you’re being serious…” 😂😂😂

      • well said brenton. as a friend on twitter said. its like watching 5 year olds trying to explain sex.

        • +1 best explanation yet. esp since I heard my 5 yr old trying to explain to his brother how mom and dad could get them a baby brother and it made more sense than these two. wealthy equal not smart

    • Elon will get there and his share in Tesla is whats hes going to get him there.
      If anyone has read the remuneration report the board signed off in 2018 would understand.

      • ive read it. its just more evidence of the fraud that is tesla. when it all implodes with his ridiculous reusuable rockets it will be one hell of a movie. perhaps the only profitable thing musk has ever been part of.

    • SpaceX has all ready dispatched Boeing to win the NASA contract to ferry astronauts to the ISS, and Tesla is the most valuable car maker on the planet.

      • Arthur Schopenhauer

        If everything goes to plan, Tesla will become the most valuable Software company in the world, that happens to make cars.

          • Arthur Schopenhauer

            Yep. It’s not a car company.

            To put it another way, it’s as much a car company as Apple is a mobile phone company.

          • tesla is an auto OEM. its that simple. where are the autonomous cars? the 1 million robo taxis. etc. tesla is last in autonomous tech. last! youve drunk the musk kool aid.

        • auto revenue is 90%+ of TSLA revenue. the rest is rebadging panasonic and LGChem can cells. i wish you guys even got the basic stuff, you make it boring.

      • The most valuable auto company on the planet – and yet doesn’t make a profit.

        Hmmm … shades of 2000 …

        • Tesla has recorded profits for 4 quarters and are going to get listed on the S&P500.

          Profit is hardly a worthy benchmark when its made up of non cash items. Net Cash flows are what matters, and the investment of said cash.

          • Tesla has made a profit through accounting chicanery — they have brought forward receivables in each quarter in order to to gain access to the S&P500. They will be back to accounting losses in short order as proof.

            You’re a fanboy. That is all.

          • i suggest you learn to read a balance sheet. particularly the A/R part and warranty provisions. tesla is structurally unprofitable and the losses continue to widen. the company is a fraud top to bottom.

        • LOL, I really like to understand how you come to that conclusion when revenue is counted when the cars have been delivered to the customer and all the paper is signed off. Unless that happens then the vehicle is still in inventory or transit and no top line revenue is reported, maybe prepaid but it doesn’t flow to the bottom line. Prepaid revenue is a Liability and Inventory is an Asset, so all Balance sheet accounts. Does not effect the P&L until its earned.

          If it was the other way around then you would be correct. There is something called GAAP, although not 100% aligned to IFRS you quite clearly have no idea what you’re talking about.

          • you have undermined your own conclusions. check A/R. how does a company that demands upfront payment have billions in A/R? seriously you should invest in winklevoss. they have a magical fairy coin to sell you.

        • MontagueCapulet

          Hi Dominic,

          Please put 100% of your net worth into shorting Tesla.
          Did you short Amazon between 2005 and 2015? Why not – didn’t make money…

          FYI, I invest in Tesla, oil pipelines and gold miners. Because I am capable of understanding hedging.

          • tesla will fail. i am part of one of the many class actions against them. this company is fraudulent. structurally unprofitable and run by a charlatan with limited understanding of world class manufacturing. tesla is merely a symptom of ZIRP. the list is long but they are the posterboy along with UBER, LYFT, AirBnB. this is dotcom 2.0 but much worse. good luck fanbois you will learn the hard way

  2. I’m going long neck scarfs. I expect stuff like this at the top.
    The amount of slush financial products, advice, videos, seminars, tutorials, that are popping up on sidebars, you tube commercials, pamphlets is just crazy. Its very unsettling watching people like this having so much influence.
    FYI from a statista survey, Nigeria and vietnam topped the countries of that people have adopted crypto currencies at 32 and 21%. Germany and Japan were the least at 6 and 4%.

    • Locus of ControlMEMBER

      Huh, so it’s not just me noticing the proliferation of financial product advertising everywhere. Super shady stuff too. “Buy my book and be a millionaire in 90 days” & other unrealistic stuff. Definitely a great environment for scammy, shady stuff at the moment.

      • We have superstar day traders meeting the president now. This is going to be in a documentary one day. (A documentary is a non- fiction film that retells actual events for educational and historical record.)

      • Haywood JablomyMEMBER

        I’m looking to launch a scheme that will corner the market in unobtanium.

        Interested?

    • hahah. you win the comments today DPM. maybe long alpacas via call options as they are hipster neck inputs now. gold.

  3. FFS, really?

    How, pray tell, are they going to get any appreciable amount of metal down to Earth? Or, more importantly, WTF would you?

    It costs about USD22,000 to get a kilogram into low Earth orbit. If you want to get to the moon or beyond, it is considerable greater. Literally the most valuable stuff you can get your hands on in space is materials (like water) that can provide a source of propellant for craft.

    F’n gold? Tell ’em they’re dreaming! What a pack of morons. Dunning-Kruger^2

    • The90kwbeastMEMBER

      +1 This

      These guys are worrying about stuff a century or more too early, seriously why the heck would anyone plan a gold mining operation in space, and worry about it today? We can still barely get people into space and back again.

      • Buttcoin boosters are desperate to get the masses to run on the junk again. This is part of it.

        Peter Schiff is wrong about most things, but on this he is right.

        • The90kwbeastMEMBER

          Whatever it takes to start a positive feedback loop eh… Ridiculous.

          Blockchain is here to stay I reckon. To me it’s greatest value is in accounting systems, and having a single global ledger for managing data. But Crypto riding off the back of that, who knows how long or if that will survive and at what price!

        • nailed it R2M. poor old pistol pete. but remember a broken clock is right twice a day. timing is everything.,

  4. Too funny, especially as he’s selling those pieces of junk called Tesla’s for below cost of production. Clearly sustainable…

    Gold will be a monetary instrument long after Musk is dust

    • I wish I could by me a Cybertruck. It’s just the sort of “piece of junk” I’ve been saving up for.

    • Arthur Schopenhauer

      😂 It’s not a car company. It’s really not. They are making something much more valuable than cars.

      • so why is more than 90%+ of revenue derived from auto sales if they are more than a car company?

    • Sure he does…. I have actually driven a number of them and they are definitely not junk, I cant afford to own one but that says more about me and less about the quality of the cars…

  5. RanganutsMEMBER

    Seriously wtf are the things around their necks? Looks like they are fully invested in how to look like a couple of poonces.

  6. Duke_WellingtonMEMBER

    they don’t understand space, the distances involved. They are talking the asteroid belt beyond Mars. They are talking like these asteroids are in Near Earth Orbit – they are not.
    The value of the gold once carted all the way back to Earth would me immense. Then you have to get it to the surface.
    These are the morons pushing shitcoins, just let that sink in.

    • MontagueCapulet

      I looked into asteroid mining a few years back. Its the kind of thing people think they understand after 5 minutes of thinking it through because all their assumptions are wrong. Distance doesn’t matter, delta V matters. Its not really about bringing things to Earth, its about collecting raw materials to build infrastructure in orbit. Starting with water, which is reaction mass for thrusters and provides the basis of a biosphere. Mining ice from asteroids makes more sense than lifting water up from Earth, if you have the tech to do it and if there is a large orbital demand. You would need large scale orbital space tourism to make it viable. Look into O’Neil’s ideas.

      Longer term, the main mineral opportunity is in platinum, which is fairly common in metallic asteroids. Gold is a much smaller proportion of the mix than platinum, so by the time you start bringing significant amounts of gold back platinum prices have already crashed and the whole enterprise doesn’t make sense any more. Most likely you end up with a diamond cartel situation where limited amounts are brought back to Earth.

      So I don’t expect gold prices to ever be significantly affected by asteroid mining. The real potential is in getting water, iron, titanium, platinum etc to build large scale habitats in orbit. Late this century perhaps.

  7. Hold on a sec. Let’s not throw the baby out with the bath water, David.

    It’s insurance remember. You still need a hedge against the great fiat experiment and potential bail-in.

  8. I understand thats why we are printing money, so grippers like these can sit around and pontificate in their next Fed backed asset speculation while everything goes to the moon on autopilot.

  9. Arthur Schopenhauer

    They appear to have read Delta-V. Snowcrash is materializing before our eyes, so maybe they are onto something.