It might not happen, but we discuss potential major news the President could announce shortly in Segment 7

September 3, 2011

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In this show Al discusses:

  • Segment 1 – Al opens the Show with Peter Grandich.
  • Segment 2 – Rowland Perkins, a Director of Corvus Gold, discusses his company from a purely business perspective.
  • Segment 3 – Randy Turner, President of Silver Quest Resources, talks about both current and scheduled future actions of his company.
  • Segment 4 – Trader Rog and Al discuss listener comments.
  • Segment 5 – Trader Rog and Al discuss International Tower Hill Mines and Corvus Gold.
  • Segment 6 – We welcome back our old friend David Morgan.
  • Segment 7 – Get ready for a blockbuster segment with Rick Ackerman.
  • Segment 8 – Singapore based writer Grant Williams discusses the economic situation with an international perspective and what he is doing to protect himself and his clients.

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Click download link to listen on this device: Download Show

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    Sep 03, 2011 03:22 AM

    Segment 5:
    International Tower Hill Mines Ltd.
    USA (amex) symbol THM
    Toronto (tsx) symbol ITH

      Sep 03, 2011 03:36 AM

      Good morning I Wazere,

      Thanks for being on my side.

      Roger was simply referring to the USA listing.

      Many thanks for commenting,

      Big Al

        Sep 03, 2011 03:27 AM

        Hey dear Al, this pairing has echoes from the promising high grade spinoff gold-silver company in Argentina from that company with the huge copper-gold deposit in Chile a couple of years ago. We haven’t heard much about that pairing for a while (Exeter and the spin-off Extorre). Extorre has had a huge run but has pulled back quite a lot recently. I really was stupid and missed out on Extorre’s run though I felt I knew they would run. Now this time with this new pairing, I am awake!

    Sep 03, 2011 03:10 AM

    Segment 7:

    Socialism cheerleading.

      Sep 03, 2011 03:15 AM

      Har is absolutly right. Socializing the means of production (lowering mortgage interest rates) is socialism. I understand the corruption of a lot of these banksters but the President and Congress have NO CONSTITUTIONAL AUTHORITY for this proposal. It doesn’t matter if it is a “good idea” or not. It is wrong.

        Sep 03, 2011 03:03 AM

        I AGREE

      Sep 03, 2011 03:51 AM

      Hi Had,

      I do agree that in a sense it is very not capitalism at its finest hour!

      Big Al

        Sep 03, 2011 03:55 AM

        Sorry Har for the typo.

        Big Al

    Sep 03, 2011 03:24 AM

    Hey Al, why isn’t Wells Fargo on the list of banks being sued? Buffett get over again – build confidence for ya?

    The list of defendants is a who’s-who of mortgage finance:

    Bank of America Corp. /quotes/zigman/190927/quotes/nls/bac BAC -8.34% , Goldman Sachs Group Inc. /quotes/zigman/188479/quotes/nls/gs GS -4.55% , J.P. Morgan & Chase & Co. /quotes/zigman/272085/quotes/nls/jpm JPM -4.60% , Citigroup Inc. /quotes/zigman/5065548/quotes/nls/c C -5.33% , Deutsche Bank AG /quotes/zigman/207002/quotes/nls/db DB -6.04% , Barclays PLC /quotes/zigman/152323/quotes/nls/bcs BCS -7.67% , Nomura Holdings Inc. /quotes/zigman/296367/quotes/nls/nmr NMR -2.86% , Morgan Stanley /quotes/zigman/182639/quotes/nls/ms MS -5.73% , Ally Financial Inc., Credit Suisse Group Inc. /quotes/zigman/172227/quotes/nls/cs CS -4.20% , First Horizon National Corp. /quotes/zigman/343857/quotes/nls/fhn FHN -6.79% , General Electric Co. /quotes/zigman/227468/quotes/nls/ge GE -2.72% , the HSBC North America Holdings unit of HSBC Holdings /quotes/zigman/207333/quotes/nls/hbc HBC -1.44% , The Royal Bank of Scotland Group PLC /quotes/zigman/530544/quotes/nls/rbs RBS -4.69% and Société Générale S.A. /quotes/zigman/167380 FR:GLE -6.65% .

      Sep 03, 2011 03:37 AM

      Good Morning Har,

      I just commented on this in yesterday’s comment section.


      Big Al

    Sep 03, 2011 03:06 AM

    Regarding the interest rate decrease on housing. Total bogus economics once again. The saver which is the engine of the economy is being taken advantage of again. The saver drives the economy not the consumer. You already have problems because interest rates are to low. Now a bond holder who has a contract and an agreement will be taken advantage of because stupid consumers who over exteneded themselves will benefit once again. NO NO NO to this type of economic policy. The problems of today are caused by interest rates that are much to low. This will only reward decisions that were not well thought out and people who over extended themselves. I have been forced to buy commodities because interest rates are to low and not worth the risk…. These type of policies will not fix our economy. You need to get government spending in order and streamline taxation with fairness for everyone… This policy that you discussed rewards risk takers at the expense of savers with no good benefit long term.. Shocking!!!!!!!!!!!!!!

      Sep 03, 2011 03:14 AM

      The ones that will be hurt will be pension funds and retirees – those are the ones that own GNMAs.

        Sep 03, 2011 03:21 AM

        That’s the message then – don’t save any money if you are in America.
        All those who then do that (ie most people) will then be at the total mercy of the socialists for generations in to the future.
        Result: happy socialist elites.

          Sep 03, 2011 03:53 PM

          HI silverbug(Dave)

          You know, it is actually quite funny, but saving money and self sufficiency is practiced by some people in our country, but they are definitely not in the majority.

          You made a great point, silverbug(Dave)

          Big Al

      Sep 03, 2011 03:05 AM

      Hi Silver Fox,

      Your points are very well taken, my friend.

      We have a terrible situation which is getting worse!

      Big Al

      We have a terrible situation which appears to

    Sep 03, 2011 03:24 AM

    Seg. 7…AL, I think at first hand , this lowering of the intrest rate,
    seem like a great idea.
    But, the people who are in a pickle with their mortgages, are the ones
    who have over spent , overleverage, and are living beyond their means.
    A house is not an investment, but, shelter,
    Even if you lower the intrest rate 2%, the balance on the mortgage is still the same,
    and the people which are in trouble, will still be in trouble, because they have to
    much house qnd overpaid . The banks have allow this to happen, the banks changed the bankruptcy laws,(thur congress) and the people are just extending their own pain by extending the payments for the next 30 years by being gluton for excess debt.
    The debt needs to washed out,and started over such as it calls for in the bible,
    the first is wisdom,,”,go and owe no man..”.., second…every seventh year,
    the debts where forgiven (that is why we had the bankruptcy law structured,that
    every 7 years you could file for complete forgivness……, man and the public have
    allow this law to be changed for the benefit of the bankers…yes, you will say,that this was because of credit card abuse,,,,but, the banker did charge higher usuary above 12% to 28 to 29.99% , which if anyone knows about the rule of 72 knows this rate is impossible to repay…and you become a slave to the lender for life…

    Sep 03, 2011 03:13 AM


      Sep 03, 2011 03:13 AM

      Thanks much Jerry!

      As I have said many times in the past, agree or disagree we do have to look at the total picture.

      Big Al

    Sep 03, 2011 03:43 AM

    Hi Al,

    Thanks for the mention. I intentionally low-balled the Flat Rate at 7% on speculation there will be a National Sales Tax to supplement any revenue deficiencies.

    I’m going to low ball this tax too. How about 5% on Sales? Here’s why, the more disposable income Americans have in their pocket equates to greater buying power for goods and services.

    A greater demand for goods and services will most likely lead to an increase in job growth. The more Americans employed, the more Americans paying taxes.

    Now how’s that for stimulus?


      Sep 03, 2011 03:22 AM


      You are either in the mining industry or a very smart econ professor!

      Big Al

    Sep 03, 2011 03:32 AM

    You can’t have a flat tax. Think of all those government workers who have to calculate your tax demand and comprehend your tax statement. And all those printing companies who have to make all those forms. And what about all those yax lawyers?
    You can’t get rid of those and have productive people running the economy AL.

    Ohhhhh, Roger is sounding like Mrs. Thatcher when he says everyone should pay a little. That was not good for her populatity in the 1988-1990 among all the 40% who were recipients of government largesse and never paid any tax. They put her out of office. Google the Poll Tax or Community Charge.

      Sep 03, 2011 03:41 AM

      Hi silverbug(Dave)

      Well we do have to support those less fortunate mentally Then us!

    […] potentially major news President Obama could soon announce. An index to all segments of the show can be found here. Cancel […]

    Sep 03, 2011 03:46 PM

    Big Al,

    Re; Segment 7 and the possible mortgage rate reduction;
    If the government unveils a plan similar to what you’ve described beware, the fine print can kill you. Here are some things I’ve heard on this and similar topics.

    A potential re-writing of a mortgage agreement may include the following:

    1. Language that includes a clause that would tie any so called fixed rate to the inflation rate. So if their measure of inflation rises, so too will the mortgage rate and/or early pay-off figure calculation.

    2. The new mortgage contract would likely be between the homeowner and a government entity. Say hello to your new lender Uncle Sam, Fannie or Freddie. That would create a new paper trail for lenders for those loans that were spliced, diced and sold as derivatives that have since become impossible to prove who the current lender is. As you know, there have been court cases where banks have not been able to foreclose, because they could not prove to the court that they were the lender of record.

    3. It’s been said that the US Govt will ultimately try to take possession of as many foreclosed homes, those in default and abandon properties as possible so HUD or a similar agency can add those properties to their property portfolio. This may have the affect of allowing renters to reside in these currently distressed properties. I’ve seen plenty of HUD and govt subsidized properties and they don’t hold up well. Those properties could be your neighbors.

    In short, when the govt says they have come to help, ask those two questions…. How much will it cost me? How will I be paying?

    Keep up the great work.

      Sep 03, 2011 03:04 PM

      Hi Rich,

      Very interesting points.

      My personal opinion is take our medicine and start living in a purely capitalistic economy. The problem perhaps with this approach is that I may be a little simplistic.

      I think that there is a pretty good chance that conventional (common sense) solutions may not work because (and I believe this is the case) it is too late.

      Did you ever think you would see a situation like this? I never did until about 1999 when everyone was talking about the new paradigm for finance and investing. Where fundamentals really did not matter because we were in a “totally different environment and we would never return to the old one.

      Interestingly enough, I didn’t believe it for one minute and I changed the entire subject matter of our show to the importance of asset based investing.

      Care to guess how much money I have made from investing since then? Let me say it has been good. What’s really funny is that I just used simple common sense and it worked.


      Big Al

    Sep 03, 2011 03:55 PM

    I’m very excited about Silver Quest and enjoyed the last segment with Grant Williams.

      Sep 03, 2011 03:07 PM

      HI Matt,

      As you know I like Silver Quest a lot and I did invest in the company three days after I announced on the program that I would.

      Randy Turner is a very savvy CEO. This guy knows the resource industry backwards and forwards. On top of that he is a nice, honest guy.

      Grant Williams is, in my opinion, one of the best. Look for him to be on the program often.


      Big Al

    Sep 03, 2011 03:11 PM

    Hi Al,
    Please explain how a 2% decrease in a mortgage rate for someone already unqualified to hold a mortgage is going to create even one job?? Sounds to me like another Obama transfer of wealth bill. A real plan would be to remove the overreaching control the government has on the private sector, who are the job creators.

      Sep 03, 2011 03:16 PM

      HI Karen,

      Regarding you comment regarding governmental control, I agree.

      Regarding a 2 and one half percent drop in the interest people pay for their mortgages, stop and think about it.

      Here is my point. We own a small condo with a mortgage that is costing us about $1000 per month. We rent it to a fellow who works with us. The entire payment is currently deductible. With a lower interest on our mortgage, I will save about three hundred and fifty dollars per month. That three hundred and fifty dollars is not tax deductible. The government gets the extra tax and I get a little extra to spend on wine, women and song.

      If you don’t mind a truly socialistic and more government controlled environment, it is not a bad deal.

      In my case I do not believe in socialism and I do not like the government control. But who knows, maybe measures like this are the only ones that will work.

      Sad commentary, isn’t it.


      Big Al

    Sep 03, 2011 03:38 PM

    What we have to realize , this is a TRICK to get votes for(OBAMA)…another give me something I do not deserve plan .
    Heck ,, at this rate we will be giving the needy free shelter
    then paying them to stay there, and when the lights go off, just send them a check for the electric,,,oh , better not do that, just give them free electic., then water, then sewer, then free real estate taxes, we already have free food, have I left anything out…
    oh, yes,, where do we send them for vacation. I am sure Obama will invite them to go
    with him to Martha’s Vineyard. That should cover about everything.
    Problem solved..I agree , lets do it..Where do I get my check, since I do not have
    a mortgage?

      Sep 03, 2011 03:18 PM

      HI Jerry,

      You are a man after my own heart.


      Big All

        Sep 04, 2011 04:13 PM


          Sep 04, 2011 04:12 PM

          By the way Jerry,

          If it happens it definitely is a vote getter. And, you are absolutely right, it is truly something for nothing.


          Big Al

    Sep 03, 2011 03:42 PM

    i’d like to hear less about companies that you invest in and more economic/business news.

      Sep 03, 2011 03:18 PM

      HI Peter,

      I started to discuss companies after I got a significant number of requests from listeners wanting me to do that.

      What can I say,

      Big Al

    Sep 03, 2011 03:00 PM

    Re. Seg. 4: Good stuff gentlemen!! Many American parents have sacrificed their children on the altar of self-indulgence! Now, the rest of us are going to have to bear the monetary cost for their offspring’s life-long therapy and resultant social chaos. Procreation requires that parents embrace the corresponding responsibility! Just because a couple can have children doesn’t mean they should! Alright, stepping off my soapbox.

      Sep 03, 2011 03:19 PM

      Oh yeah Mr. Castanheiro,

      You are sooooooo correct.

      Big Al

    Sep 03, 2011 03:15 PM

    Whoa! Just listened to Seg. 7. Scary stuff! I agree with all those here who say this is furthering the overall Socialist agenda. Al, I love ya’ man, but this would result in a huge slam against the people. Once again, the cost of this 2% reduction in interest would be socialized, ie. made up by the Feds in the form of higher taxes on “we the people”. There is no free lunch. Someone always has to pay the bill. If the gov’t is for something and pushing it, you know it benefits them and not us. This is a bad deal all the way around! Always appreciate the show!

      Sep 03, 2011 03:21 PM

      Hi man,

      What do you think of what I wrote above regarding segment seven.

      Big Al

        Mar 21, 2012 21:10 PM

        Dear Dr. Kristi, I have this terrible fear of bald lepope. Particularly bald old men. They seem to be everywhere these days! How do you suggest I deal with this issue?

    Sep 03, 2011 03:25 PM


    I am just curious — it seems to me that Aurcana insiders are selling their shares like there is no tomorrow — any idea why? Or am I reading this chart incorrectly?


      Sep 03, 2011 03:21 PM

      HI Bentnail,

      Didn’t realize that was going on. I will look into it.

      Big Al

        Sep 03, 2011 03:19 PM


        As always, thank you!!!

    Sep 03, 2011 03:24 PM

    Hey AL,

    In regards to segment 7, I would love to hear what Roger Wiegand thinks about this idea. Perhaps you guys could discuss it together sometime next week.

    A.J. Mira

      Sep 04, 2011 04:07 AM

      Good Morning A.J.,

      Okay, listen early this coming week.

      Have a great rest of the weekend,

      Big Al

    Sep 04, 2011 04:01 AM

    Good luck to all silver/gold investors.

    The US elites have been a very evil group. Especially since 1963. the CIA, we now know, assisted Gadaffi to control his people.

    They are responsible for a lack of respect for anything American, despitet he great will of the American people.

    I love being in the USA, usually, but is it over? I hope not but in parts of the USA, it is over for white people.

    One area is SouthEast Florida. White people are no longer seen shopping or sometimes even working in the shopping malls.

    You will find them at the bingo halls. The men are playing the one arm bandits and slot machines and the women are playing them.

    Good Bless the good people of the USA. Your govt shot be taken to the shed and whipped.

      Sep 04, 2011 04:19 AM

      Good Morning James B,

      Good to have you back.

      To a large extent you are definitely correct in my opinion. It is tough in some parts of our country to hear English spoken.

      You know, the thing of it is America has always been a melting point. And that is what made us great.

      I don’t judge people on the basis of their color etc. as I am sure you don’t. I judge people on the basis of their character. Character, to me, includes level of honesty and integrity, level of effort, etc.

      The white people you are talking about who are sitting in bingo parlors, casinos, etc. are no better in my opinion than black people hanging out on street corners smoking dope.

      Every time I go to Sodom (Las Vegas), I am amazed at the loosers (white, black, latino, asian, etc.) hanging out in the casinos down there swilling the free booze and plugging the machines, card tables, etc. It makes me sick.

      Then I go to a little church in Seattle (when we are down there) where the congregation is from every race. I listen to the sermon, the music and see the joy of these folks and I get a bit of faith back in our American society.

      Which faction will win out? Hell, I don’t know. I know that I can only control myself and I know which faction I belong to.

      You sound like a really good guy. Again, thanks for your observations.

      Big Al

    Sep 04, 2011 04:05 AM

    Hi Al,
    I understand the 2% senerio, but Obama is suppose to come out with a jobs bill. Don’t really see how this will create a job. It will create a government takeover of the mortgage industry which is exactly what Obama wants. His jobs bill will be so outragious that the Republicans will have to vote NO. That will be his campaign….how the Republican are standing in the way of recovery. I really think that is what his plan will be since he cannot run on his success. All he can do is play the blame game.

      Sep 04, 2011 04:05 AM

      Good morning Karen,

      Your point is really interesting and I cannot disagree. Here are my thoughts.

      I understand that the impetus for this particular potential event will probably come from the government but the mortgage industry will have to actually take the action.

      I must say that I have no sympathy for the mortgage industry because all the bad loans were the industry’s doing. People were stupid to take out these loans but the initial blame has to be put on the lenders.

      As I mentioned above, we have a really bad situation on our hands. Bad enough that it could bring our country down.

      As bad as this potential action is, and I do agree with everyone who says that it is certainly not the type of action that made our country great, I am thinking that it may pose a partial solution.

      We are very close to a collapse in my opinion. Yes, I would like to see this averted by a return to pure capitalism but given the complexion of American society I am not sure that is possible. We have so many people on various entitlement programs, so many people receiving money illegally, and so many people who are not strong enough to bear the consequences I just don’t know from a practical standpoint if that would work.

      As you can see, I am really concerned!

      What do you all think is the solution?

      Big Al

    Sep 04, 2011 04:03 AM

    I understand why you do not have David Morgan on more frequently, he is totally
    boring and is not as articulate as some your guests and he is so pessimistic about the PM market. Here we have the problems that Big Al talks about at length, we
    are now entering the seasonality of the PM sector and September being a great time for the silver market. David Morgan should not do talk radio, everytime
    I here him he is a complete downer. This is an exciting time we hope where the
    shares start to catch up, let’s feed the energy with positive vibes and leave the
    bearish sentiment for people like Nitwit Nadler! I dare you to publish this honest opinion.

      Sep 04, 2011 04:08 AM

      Good Morning Mark,

      I believe that I have taken your dare.

      I will say that I was somewhat taken aback by what David had to say. As you heard, I did not agree with his opinion. But, everyone is entitled to his/her opinion.

      It will be very interesting to see how the market plays out this Fall. I personally am very optimistic as you seem to be.

      Many thanks for your comment.


      Big Al

        Sep 06, 2011 06:11 PM

        I actually like David. (even Nadler for his counterpoints!) He’s certainly correct that when margin calls come for hedge fund managers, they seem to be raiding PM holdings first. I like pro/con analysis like this, though. I also didn’t get that David is being negative, and in listening to the segment after reading the comments, he seems to have said as much, but he’s just worried about short-term consolidation. I think that’s a fair concern because it’s happened on and off since gold took off from $900. Remember that there are some powerful people out there who don’t want gold to go up in price, and they will win the occasional battle or two.

      Sep 05, 2011 05:15 PM

      I thought I was the only one who thought this. Good points, Mark!

    Sep 04, 2011 04:49 AM

    Segment 7.
    Once again the person who does the right thing by paying off his house loan gets no reward. Take away from the senior who worked all his life and paid off their house and reward those who borrowed to the hilt. I see why you are smiling with your appartment loan Big Al. Just another Robin Hood story and aquire more VOTES.

      Sep 04, 2011 04:13 AM

      Hi Brad C,

      Your comment about the senior who worked his/her entire life and paid off debt is absolutely correct. That is exactly what we did with the exception of the little condo. (Which, by the way, we did try to sell!)

      Rewarding those who borrowed to the hilt is wrong. No question about that.

      The problem is so damn big though what is the solution. Remember the borrowers still have to pay the money back.

      I should change my moniker from Big Al to Truly Frightened Al!

      Big Truly Frightened Al

    Sep 04, 2011 04:00 AM

    Seg 7, Ackerman is pimping the Admin’s actions now. Amazing! He must have been given special privileges. I expected more from Rick. I suspect a more fair analyst would have mentioned how inflationary this would be because of how the world would view this as another form of QE3. Dollar gonna drop! Get ready for $6 gallon gas.

      Sep 04, 2011 04:14 AM

      Hi Jeff,

      I will discuss this with Rick again this week on a Daily Editorial.


      Big Al

    Sep 04, 2011 04:36 AM

    MUST READ FLASH: China knows about gold price suppression,and u.s. knows china knows. Go to GATA. org.

      Sep 04, 2011 04:15 AM

      Hi Mr. Irishtony,

      We should all spend this afternoon drinking Guinness!


      Big Al

    Sep 04, 2011 04:32 AM

    have a question,,,if china knows, and u.s. knows,,
    Does not this allow china time to get rid of the worthless paper they have..
    by keeping the gold low price…the dollar continues to have value
    thereby allowing china to accumlate more oz.
    IF they know,, what is the next game plan for china, but to get rid of the dollars.
    China is in a trick bag either way.. they have trillions of worthless dollars,
    they can not dump all at once..
    so, is not gold suppression in china’s favor?
    Maybe, AL and Roger will answer..
    Have a great day..

    Sep 04, 2011 04:19 AM

    Hi Jerry
    Yes I think the gold suppression has been in China’s favor. We know they have been buying up gold & silver for years. They have also been buying up mines & other real estate around the world. They won’t panic to get rid of their worthless dollars. They have a different concept of time, to the rest of us in the west. thet are slowly slowly off loading the dollar. Regards.

      Sep 04, 2011 04:02 AM

      HI irishtony,
      Thanks for the followup,,, I thought this was the case, but, it is alway good to
      clarify ones thinking, and make sure there isnt something we have missed
      or another twist to the same old story.

        Sep 04, 2011 04:17 AM

        Good Morning Mr. Irishtony and Jerry,

        Your questions and comments are a boon to all of us.


        Big Al

          Sep 04, 2011 04:22 PM


            Sep 04, 2011 04:24 PM

            Hey Jerry,

            In case didn’t notice, I did reply to your comment above about the “vote getting” actions of the administration. Both Rick and I agree completely with you on that!

            It is pretty obvious. And, you know, if it actually happens the Republicans will not vote against this action because if they do it will cost them votes.

            What an absolutely brilliant scheme. And, you know what? It just might work.

            Big Al

    Sep 04, 2011 04:10 PM

    Big Al,
    Re: segment 7, WOW, I agree this would be great for investors like you, who probably put some money down on his investment, you can take your $500.00 US and buy almost 12 ounces of silver! On the other hand, the majority of all new property owners in the last 2-3 years have only a 3.5% down payment, who have now joined the rest of the homeowners who purchased from 2003-2008. Many economists are predicting home values to decline up to 20% more from here. Where will that leave homeowners then? I just wanted to add these comments to the others left above, whom I would agree with as well. BAD idea. I know it was not your idea or Rick’s ( I follow you both daily) and love both of you.

      Sep 04, 2011 04:32 PM

      HI Bobby,

      Thanks for the kind words.

      As I understand it, a large amount of homeowners are currently way underwater. They are in that position because they, in a sense, wanted something for nothing. They got something that is now worth nothing compared to what they thought they were getting. (From a financial standpoint.)

      On the positive side, and there is a positive side for them, they do have homes that they are living in. True the homes are not worth what they expected but when it rains they will not get wet.

      Don’t you agree that the situation today is the result of a whole bunch of past irrational actions?

      Unfortunately, as my dad used to say, two and two always equals four. By its very definition, you cannot change reality.


      Big Al

        Feb 01, 2014 01:31 PM

        Areitlcs like this make life so much simpler.

        Feb 02, 2014 02:00 AM

        That inhsigt would have saved us a lot of effort early on.

    Sep 04, 2011 04:05 PM

    HI, AL. AS my old NAN used to say, so long as you have a roof over your head, you will always find food to put in your belly. Enjoy the rest of your long weekend Regards, your GUINNESS drinking fan.

      Sep 04, 2011 04:17 PM

      Ah yes Mr. Irish Tony,

      You are a brother in arms!

      By the way, did you know that Guinness was not an alcoholic beverage, but a food group! How about that!

      Your buddy,

      Big Al

    Sep 04, 2011 04:24 PM

    Hi Irishtony,
    China’s answer to the bullion market supression scheme is their own Pan-Asia Gold Exchange which opened last month.

    Sep 04, 2011 04:49 PM

    Big Al,
    Thanks for the reply. I will take a guess at how well your investments have performed since 1999. I will say an increase of 8 fold. How’s that?
    Like you, I too have not bought into what the mainstream is selling. Thanks to your show and other similar, I too have made out pretty well.

    Thanks for your great reports & guests.


      Sep 04, 2011 04:20 PM

      Hi Rich,

      Probably not exactly eight fold, but certainly pretty good.

      I will reiterate, my actions were simply a matter of common sense. How could any rational human being not see this coming way back when? It is simply beyond my comprehension.

      Sounds like you have also done pretty well. I am glad.

      Thanks for you comment,

      Big Al

    Sep 04, 2011 04:14 PM

    Thanks for the followup on the “vote” comment.
    Have a great week and thanks for all the hard work you are
    doing following up on all the comments.
    Relax and take the day off.

      Sep 04, 2011 04:28 PM

      Hi Jerry,

      Believe it or not this is very relaxing for me. It’s not even close to being work. That’s what happens when you have a true passion.


      Big Al

    Sep 04, 2011 04:27 PM

    Hi Al,

    Regarding segment 7: Remember Peggy Joseph, from Sunrise, FL.? She was so excited that she would no longer have to pay her mortgage, or put gas in her car, simply by electing Barack Hussein Obama. Wonder what she and the rest of her ‘entitled’ friends think of “The Messiah” now, even though they are worse off now, than they were then??

    –> <–

    If he (al-baraq hussein obama) does decide to annouce that reduction on in his "competeing for the limelight vs the NFL" jobs speech, she may just get her entitlement feeding selfish dream come true afterall, aye?

    Take care,

      Sep 04, 2011 04:30 PM

      BTW Al,

      It appears my response to you on your Flat Tax segment needs moderation.

      Thanks, Lynn

      Sep 04, 2011 04:30 PM

      Hi Lynn,

      Can’t reply now because I am going to get my free BMW and then afterward I have to stop at the store to get more wine with my food stamps.

      You see, I deserve it!

      Big Deserving Al

        Sep 06, 2011 06:07 PM

        Okay Lynn,

        I have my free BMW and food stamp wine so here goes:

        Hi Al,

        Here’s the comment that will not appear on your Thursday’s segment regarding the Flat Tax:

        On September 3, 2011 at 1:27 pm,
        Lynn says:
        Your comment is awaiting moderation.
        Good afternoon Al,
        Sorry for the typo on your name. It should read “Big Al” not “Bag Al”. My humble apologies.
        I have great respect for your work and views. I also promote your show on my Facebook page. I am mostly a student who is new to the investing world. Just over a year so far.
        I personally do not appreciate where our tax money goes. I advocate a destruction of many of the programs our current taxes go to. So many of them are wasteful. Utterly wasteful! Much like this one –> <–
        Not to mention all the failing wasteful programs for social collectivists' causes.
        Everyone is always, ALWAYS, saying that "we need to give a little more", or "tax the rich more", or "blah more tax blah blah".. I say, "How about stop the spending, stupid!"
        Well, that is where I am with all of this "lets do this with tax, and let's do that with tax."
        Best to you and yours sir,

        Thanks for your attention,

        Mr. Lynn Sylvester

          Sep 06, 2011 06:30 PM

          Okay Mr. Sylvester,

          Thanks for resending!

          Yep, many of the programs need to be stopped. They are counter-productive in that they are enabling for many folks who really could do better. Taking away initiative from people is really a terrible thing to do. People would not break windows and steal tv sets if they had a sense of responsibility. Sorry, but I firmly believe that.

          I wanted to respond asap so I have not followed the link above, but I will shortly.

          Regarding being in the investment community for only just over a year, let me give you my thoughts:

          1. Be as informed as you possible can;
          2. Work with an investment adviser who is qualified and who does not need your money;
          3. Diversify and don’t put all your eggs in one basket;
          4. Invest with your intellect and not with your emotions.

          The list goes on and on but the above is a start.

          KEEP YOU COMMENTS AND QUESTIONS COMING THIS DIRECTION. Remember, we all learn from each other!

          Big Al

            Sep 07, 2011 07:41 AM

            Hi Al,

            Thanks for getting back to me. I certainly enjoy learning and studying. Even at my age 😉

            No need to feel sorry for that. When you give something to someone long enough for them to become dependent upon that something given, of course their initiative and responsiblity has been taken away from them. It almost seems planned. Much like the goals the Communists had in mind since the 1930’s.

            I am in total agreement with the notion that when the “age of aquarius” came around in the 1960’s, that it did not bring in “enlightenment”, rather it brought in strong low morale and laziness. Communism had already taken a firm root in our country and was spreading like cancer. Infecting our schools, government, and entertainment industry.

            Well, gotta get back to work.

            Best to you and yours,

            Mr. Sylvester

    Sep 04, 2011 04:50 PM

    Hello Al,
    Yes, I read your comments regarding Seg. 7. I know you are not a Socialist Al, however, so much Socialist thought and so many Socialist ideas have crept into our reasoning and intellectual constructs, that we don’t even realize how deeply our thinking has been corrupted. We’ve all been corrupted to one degree or another. The strategy of the Keynesians, Socialists, etc. is to introduce their ideas to us very slowly over many years, ie. “incrementalism”. The “good” points are always touted and exagerated, while the negatives are never discussed or they are vehemently declared to be nonexistent. The entire GAME is so insidious. I’m not sure that the vast majority of Americans will wake up in time to save themselves from the almost inevitable destruction rushing their way. Appreciate your comments and I guess I was more surprised at Rick’s positions, as his particular views seem to espouse these ideas. But, hey, always a good show and I appreciate all your good work! Thanks much.

      Sep 05, 2011 05:32 AM

      Good Morning Castanheiro,

      You know, my friend, you have a really good point.

      Simplistically speaking, what we have here is a fight between right (small government) and wrong (big government).

      Ever notice how all of our past great leaders espoused small government? I mean if you go back to the Revolutionary War, in a sense, it was about small government vs. totalitarianism.

      Sometimes I think that the problem is found in human nature. A lot of folks insist on being the “prettiest baby in the nursery because they believe that God or someone has given them a “divine” message so that they can save humanity. By the say, for the record, I do not believe that God would ever give a message like that!)

      Socialists, in my mind, fall into that category because they seem to believe that people can’t take care of themselves so the government has to take care of them.

      I am pretty convinced that is the case with the current administration and, in a very real sense, with the prior administration.

      Doesn’t necessarily mean they are evil people, they are just people who are convinced that they are absolutely correct and know what is best for everyone else. I guess one could say they are evil in that they do want all the power and very possibly much of the wealth also. (Wow, here is an interesting question! If that is what they are after how can they possibly be good?)

      It seems that the path is not going where we would like to see it go, huh?

      Big Al

    Sep 04, 2011 04:43 PM

    Big Al and Tony ,not only is Guinness listed in the food group category but all beer is classified as a vegetable so it is a required staple of life.

      Sep 05, 2011 05:33 AM

      Hey thanks man,

      I am on my way to the store right now. It is a holiday after all!

      Thanks for you help,

      Big Al

    Sep 04, 2011 04:19 PM

    seg 7-wow-lots of responses.

    I am in the camp that says there is no such thing as a free lunch.

    You give one group you take away from another. And you create a situation where in future who wants to lend money if the govt sticks its nose and changes the terms. Oops, we have already seen that.

    this is just more transfer of money for the rich and hi earners to lower earners and screws up the system.

    As for your rental property, I[‘d bet its only owner occupied, and if not that’s a screw up too, which of course we come to expect from govt.

    btw-someone said this would hurt pensions (which are already over their heads) and seniors, which as a group have been screwed via low fixed income rates anyway, frozen social security and inflation just in food, energy and medical care and makes laughable anybody in the 537 elected leaders who says they care about seniors.

      Sep 05, 2011 05:36 AM


      Your comments are some of the best that I have heard on this issue. The others were also good but I like your points about future unwillingness to lend money, owner occupied necessity, transfer of money and the issue with pensions.

      You put it all very succinctly,

      Big Al

    Sep 05, 2011 05:45 AM

    The governments and banks made these economic problems, we live in.
    Why would any person trust these same people or enities to solve anything?
    Must be people are not informed and or are stupid.

    Sep 05, 2011 05:37 AM

    Hi Paul S.,

    You bet, the governments and lending institutions did cause these problems.

    What more can anyone say?

    Big Al

    Sep 05, 2011 05:48 AM

    Hi Big Al,
    Re. your response. Very well put. I can’t add anything to what you said. Bravo!
    Best and God Bless,

      Sep 05, 2011 05:50 AM

      Many thanks, Mr. Castanheiro!

      Big Al

    Sep 05, 2011 05:09 AM

    If the rumor is true, we expect the bond markets to immediately tank as this means the bondholders take a 50% to 33% haircut on interest returns for the most part. Who would want to invest in these securities knowing their contracted returns can be arbitrarily be cut drastically?? – Traderrog

      Sep 06, 2011 06:15 PM

      It also tacitly gives other nations the green light to do the same.

    Sep 05, 2011 05:10 AM

    if the rumors are true, would only the F&F mortgage backs bonds be reduced in value or would this include many others as well? Who would be the final decision maker? Who would decide who loses contracted interest and who retains it? Traderrog

      Sep 07, 2011 07:01 AM

      I think once one country does this, anywhere for any reason, every other person who owes money to someone else is going to try it. If you’re the PM of Greece, and you see the United States convince bond holders to accept 2 or 3% less on home loans, why not try it on your loans back to the EU?

    Sep 05, 2011 05:45 PM

    Al, Couldn’t agree with you more when it comes to “morals having gone in the toilet” and I agree with a lot of what you say about the reasons for it all. We have lost our moral compass and that has a lot to do with the twin tyrannies of “political correctness” and “moral relativism” dominating schools and the media.
    Whoever says “there’s no such thing as objectivity and absolute truth” has just undermined his own argument by making a statement that claims to being both objective and an absolute truth! The fact that we have all sinned and had our consciousnesses darkened doesn’t mean truth doesn’t exist; it’s just that it’s darned hard for us to see it well oftentimes! “When the light that is within you is darkness, how great is that darkness!”

      Sep 05, 2011 05:17 PM

      I truly pray that the sovereign light within me is not darknesses!


      Big Al

    Sep 05, 2011 05:23 PM

    Ben bernanke did not call gold money. he called gold a hedge against fat tail risk.

    Gold miners should go up in price but the problem is that people don’t expect gold to stay at 2000 dollars or more forever. gold is up because of the extreme fat tail risk in europe right now. there is danger of sovereign collapse, financial institution collapse and bank collapse.

    At the same time, I read recently that some hedge fund managers are starting to move directly into senior gold stocks. and I read recently that the amount of money these hedge fund managers have is far greater than the entire goldminer market. so, interesting times lie ahead.

      Sep 05, 2011 05:20 PM

      Hi Mr Neveracceptthetermsofservice,

      That would really be interesting!

      Big Al

      Sep 06, 2011 06:19 PM

      I was put onto senior producer Silver-Wheaton. We don’t see a lot about it here yet, but it seems to be a good, current barometer on the perceptions of metals producers. It is also “expensive” enough that mutual funds can buy it (some may not know, but many funds have policies that actually prevent them from investing in companies that trade less than $10 share, or which do not trade on NYSE/NASD (liquidity concerns). Seniors are companies they can invest, and which have enough market cap to absorb their dollars.

        Sep 06, 2011 06:55 PM

        Yep, John, I know.

        Silver Wheaton is one hell of a company. I don’t own any, but I believe it is a great place to park some cash.

        Big Al

          Sep 07, 2011 07:14 PM

          SLW sure is good. Funny but a friend at work just mentioned SLW to me today, and he is exclusively a Dow person. 😉 If you like SLW, maybe you also want to check out Sandstorm Gold, who are another royalty company.

    Sep 05, 2011 05:23 PM

    Hello Big “E”:
    Good observation and application of “logic”. If more of us used critical analysis skills like you just did, we wouldn’t have near the amount of convoluted thinking that we see around us. (Values shape our beliefs, beliefs influence our decisions, and decisions determine our destiny). For general interest, check out recent interview with Jim Rickards at Excellent.
    Enjoy my fellow blogger’s views. No one person knows everything, so it is of great advantage to gain different perspectives from others.

      Sep 05, 2011 05:22 PM

      Hi Big E,

      I could not have said it better myself!

      Big Al

        Sep 07, 2011 07:14 AM

        Big Al, Thanks for taking the time to interact with so many of us. As I said to castanheiro just above, I find it really heartening to participate on this unique website where people with varying viewpoints can exchange their views with candor and civility. And I think you deserve much of the credit for this; your decency comes clearly through in the way you handle this space, and I think you appeal to the better side of people’s natures. BTW, I really appreciate your having Peter Grandich on as a frequent guest not only because he’s so well-spoken and informed, but also because he brings an explicit moral dimension to his commentary. Keep up the great work!

      Sep 07, 2011 07:02 AM

      Hello castanheiro,
      Thanks for the kind words! I have enjoyed a number of the Jim Rickards interviews on KWN, as well as a number of others on that website. Ditto of course for the Korelin Economic Report, and I would also recommend Jim Puplava’s Financial Sense Newshour.
      I couldn’t have put it better than how you’ve expressed it in the last two lines of your message; it is heartening to participate on this unique website where people with varying viewpoints can exchange those views with both candor and civility. I think “Big Al” deserves much credit for this: as he says, none of us is the prettiest baby in the nursery!

    Sep 06, 2011 06:21 PM

    The segment 7 subject on instant refinancing bothers me in a few ways. Maybe I don’t count for much in the scheme of things but:
    1) I paid my mortgage off in full, faster than the 30 year contract. People should be spending extra cash on debt reduction, not getting more “cash in the pocket.”
    2) I bet the mortgage is reduced to a lower rate for more “cash” in the pocket, but the mortgage term is extended another 30 years. So the “savings’ is lost in the extension for the years. Any mortgage calculator will show that the total paid in an extension of a mortgage is more in the end.
    3) I got a mortgage, paid it off, and now I feel like the mediocrity of the world that levered up and blew themselves to pieces is constantly getting bailed out over and over again. Nobody is learning from these errors.
    4) What happens if these new Big Gov Mortgages are non-recourse loans like Sallie Mae. You can’t really “default” on non- recourse
    5) I think the new plan is a scam. Basically push everyone into indentured servitude Non-recourse loans and this still bails out bondholders who get their principle back in full, and at a rate higher than the administered rate. Why is this so great for consumers who don’t have jobs to pay ANY mortgage back-especially a near-worthless asset like a track home that’s under water. They are still OVERPAYING

      Sep 06, 2011 06:53 PM

      Hi Cocoa,

      Here’s the deal, man. You count for a lot!

      Regarding your comments about those of us who paid off our mortgages, I agree with you 100%.

      Regarding your comment regarding debt reduction, I agree 100% also.

      Regarding your comment about the mediocrity of the world. Hey, I cannot disagree with that either.

      My wife and I were in debt pretty good because of, among other things our business. I actually got a call from U.S. Bank saying that I could pay about 50% of the balance and be done with it. I told them to go to you know where. Everyone got paid off a number of years ago. That is the right thing to do . You know it and I know it. Too bad everyone doesn’t feel that way.

      Keep you comments coming, my friend.

      Big Al

    Sep 06, 2011 06:22 PM

    I really do not want anything, I just saw that you had 100 responces this weekend
    and I thought I would be 101st. ,, that way you can say you had over 100 responces..
    this week end…(just having fun),,,but, NOT AT YOUR EXPENSE…
    great show
    submitted with respect.


      Sep 06, 2011 06:42 PM

      HI Jerry,

      Don’t stop your comments coming in, please.

      I too agree with Peter.


      Big Al