Whew! What a week
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In this show Al discusses:
- Segment 1 – Marshall Berol discusses the importance of keeping emotions out of investment decisions.
- Segment 2 – Al and Steve Taylor discuss the true significance of yesterday’s employment numbers.
- Segment 3 – James Turk discusses, what else, gold and silver.
- Segment 4 – John Embry weighs in on the questions of gold and silver.
- Segment 5 – Mickey Fulp discusses companies involved in the rare earth element sector.
- Segment 6 – Craig Lindsey, President of Otis Gold, provides an update on his company.
- Segment 7 – Trader Rog and Al discuss politics and economics and their effects on your investing.
- Segment 8 – Bill Murphy provides, what he believes, is proof of manipulation in the precious metals markets.
Click download link to listen on this device: Download Show
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Click download link to listen on this device: Download Show
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Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
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Hi James
I have been told about 3 years ago that JP Morgan cant manipulate for much longer.
Dont you believe it!
No one can stop them!
Everybody needs to buy only physical, take delivery of contracts and cause a shortage.
If you have a SLV ETF you dont own anything except paper with no backing at all. They dont have any silver, if any one thinks they have, try asking for it!
The American banksters are ruthless nasty vermin.
America is kentucky fried chicken and their shell games of the fed are not going to work but I would not pull anything past them.
How long can the JP Morgue do this? I have no idea.
The American banking/financial/stock market establishment are the world’s nastiest dirties people on the planet. They are vicious and will take your money and smile and laugh.
But their time is coming; C, BoA, JP, MS, GS.
Something bad is coming our way and that is how they will save their skin.
Hi James B,
I don’t understand your comment about “something bad is coming our way and that is how they will save their skin”.
That is unless you mean financial ruin for the masses.
Please elaborate,
Big Al
For the record for SLV:
Oct 6.2011:
Ounces of Silver in Trust 321,205,320.200
Tonnes of Silver in Trust 9,990.60
SLV: OCT 5.2011:
Ounces of Silver in Trust 321,205,320.200
Tonnes of Silver in Trust 9,990.60
It isn’t 100% covered in hard assets, but keeps some in paper because it has to maintain redemption liquidity.
What possible reason would you suggest would be the reason for SLV not to hold silver?
Apologies for repeats
HI cfs2000(David)
I think that the issue is, does it have 100f% coverage.
100% coverage is only necessary if everyone wants their physical. Of course, this would occur occur during a time of crisis.
Isn’t that why we buy physical? For times of crisis.
Big Al
The whole market is manipulated and so are the figures they produce. They can enter any data they like, it doesnt need to be acurate. It is NOT independently audited.
Seeing is believing, If they had 1 ton would you invest?
Hi Martin,
I still firmly believe that the markets can be very good to us if we simply stay informed.
By the way, one ton of what?
Big Al
For the record for SLV:
Oct 6.2011:
Ounces of Silver in Trust 321,205,320.200
Tonnes of Silver in Trust 9,990.60
SLV: OCT 5.2011:
Ounces of Silver in Trust 321,205,320.200
Tonnes of Silver in Trust 9,990.60
It isn’t 100% covered in hard assets, but keeps some in paper because it has to maintain redemption liquidity.
What possible reason would you suggest would be the reason for SLV not to hold silver?
As regards asking for silver, have you the prospectus? Why would you expect delivery?
For the record for SLV:
Oct 6.2011:
Ounces of Silver in Trust 321,205,320.200
Tonnes of Silver in Trust 9,990.60
SLV: OCT 5.2011:
Ounces of Silver in Trust 321,205,320.200
Tonnes of Silver in Trust 9,990.60
It isn’t 100% covered in hard assets, but keeps some in paper because it has to maintain redemption liquidity.
What possible reason would you suggest would be the reason for SLV not to hold silver?
As regards asking for silver, have you read the prospectus? Why would you expect delivery?
You are about as knowledgeable as the wall street demonstrators.
Last time I checked there were 231 million oz in SLV, not quite 100%, because they have to maintain liquity for redemptions
HI Martin (UK),
I completely agree with you about taking delivery.
Best,
Big Al
Many thanks James B for the kind words and for your personal insights.
Best,
Big Al
AL. Something you might be interested in reading, over at GATA. Commercial shorts in silver at their lowest level in 8 years. By GENE ARENSBERG.
Okay Mr. Irish,
I will read it.
Thanks,
Big Al
HELLO JAMES. What are you doing up this early.
Seg.1…the older you get,,the more you see, the more you can remember the wrong moves you have made,,and remember the trades that have made you the bundle.
These are not good times…and will end in disaster for many…so,
“stick to fight when your hardest hit,,it times like this that you must not quit…”
author…Keystone
I agree complete in the context I believe you are talking, Jerry.
“Stick to the fight when you are hardest hit is really a wise statement.
Thanks,
Big Al
I said several weeks ago, the Germans are fair ,,but, firm…and will not go along
with bailing out all europe..based on the Weimer Republic history…they are
not that dumb.
Maybe that is why people can afford to drive BMW’s, Mercedes and Audi’s.
I do. (An old one, but a good one!)
Big Al
Obviously I meant to say “Maybe that is why people who can afford to …”
Sorry,
Big Al
silver ratio is going to 16 to 1 at a minimum…..silver has been money in our
century..or our time…I remember getting silver dollars as a paper boy…and
I still have them….1960…the cycle is on its way back…and that is just history.
seg. 7 Respect is given….. Where respect is due..
.Do you respect politicians,which lie,cheat and steal…
NO NEED TO RESPOND….EACH PERSON CAN ANSWER THAT ON HIS OWN.
Marshal Berol gives very wise advice to investors. I have had successes and made quite a few mistakes in resource stocks. We can all get excited by a great story and great presentation. I cannot say I am a perfect investor and I find it hard to keep my emotions out of my investment decisions.
I think it is only human to have a knee jerk reaction and rush for the exits when a stock drops. Especially since the mining stocks have had such a sharp correction since April of this year. I found a great article written by Jay Taylor that shows even investing 15% of your portfolio in gold mining stock can offset equity declines in your other areas of your portfolio during a financial depression. The article is here http://www.gold-eagle.com/gold_digest_08/taylor102508.html
This article by Jeff Clark, also makes the point that though gold mining stocks such as Homestake Mining, and Dome Mines dropped with the stock market crash of 1929, from 1929 to 1933 they went on to have great gains. By 1933, Homestake Mining had a gain of 474% and Dome Mines had a gain of 558%. Of course there are no guarantees but I think if an investor has chosen a good company, with great management and great assets they can make it through any short term declines in the market. The article is here http://inflationdata.com/inflation/Gold_Investment_Articles/Gold_stocks_depression.asp
HI Nick,
I am convinced that investing in solid mining companies, regardless of its stage of development, is a good idea. I have to stress; however, that you really have to know what you are doing or have an very experienced adviser.
Best,
Big Al
Gold Confiscation:: This subject comes up time and again and many opinions, ideas and concerns are raised. Aside from the various issues of not enough gold to confiscate to make much difference in US debt, there is a political issue which is even more serious to those in government that might want to confiscate gold.
The above show recently done by the History Channel is a bit dramatic and perhaps overplays in Hollywood style, but it does bring up one important topic to all of those who do own personal gold. James Turk recently had an interview with a German financier who mentioned Gold Confiscation, Capital Controls and limits place on citizens by governments. But what would happen if the US Government decided to confiscate all private gold.
First issue to arise would be, is the Gold in Fort Knox and West Point actually there? The US confiscated gold back in the 30’s and put that gold in Fort Knox, but if that gold is not there and has been sold out or is there but incumbered by swaps or leases to banks, who is to know that confiscated gold this time around would not also be disposed of in same way.
Recently discussions with some people I know who don’t have any gold for any number of reasons, would at first say they don’t care if the government confiscates other peoples gold an yet they do consider the Gold in Fort Knox to be owned by all Americans not just government gold. Public Gold just like Public Lands and Public Parks. So if the government decided to confiscate private gold, the issue of a gold audit of Fort Knox and West Point would be pushed by all Americans before any confiscation. If the government has sold or encumbered US gold, they are not likely to try confiscation as an uproar would demand an audit which would expose what they did with the existing gold.
Hi Clay,
I don’t think the critical issue here is specifically gold. I think the critical issue is government control on an issue that is not approved democratically. By democratically I don’t mean approved by elected officials. I mean approved by all the voters.
Ever stop and think about just how long that would take.
I will say, on record, that if our government confiscated our gold and silver, I would assume that a major freedom of mine was taken away. That is something that i would not stand for.
Best,
Big Al
Al, I agree with you in the fiduciary responsibility of our government officials, but let us not forget the US was set up under the Constitution as a Republic and not a Democracy, there is a big distinction in how that works. Congress and the president are elected, but they do not have to do what their voters want. If voters do not approve of what elected officials do, they can remove them through the democratic election process.
But you are absolutely right about what the critical issue is, which is not gold but instead government actions which would not be approved by the majority of the people. It is possible to fool some of the people all of the time and to fool all of the people some of the time, but not all the people all of the time. And I think Lincoln would today add that should government officials try and fool all of the people all of the time, that is tyranny, criminal and perhaps treason.
HI Clay,
Your point is well taken.
Big Al
ditto
Guys
Please read “Crashing Silver and Gold by Howard Ruff on the Kitco website – its excellent…and check out his website at http://www.rufftimes.com for his nine principles of living – it is really good…
HI Marc,
Howard is a good guy. I consider him to be a friend although I have not seen him for quite some time. He must be in his late 80’s by now.
Best,
Big Al
MUST HEAR…JOHN WILLIAMS ,,SHADOW STATS,,,ON PUPLAVA..CONCERNING GOLD..
LISTEN TO AL’S SHOW FIRST AND TIE THE TWO TOGETHER…
this will keep you grounded…long term..
HELLO CLAY. As you probably know, RON PAUL & other eminent people have been calling for an audit, for years, but they just keep getting fobed off, with all sorts of weird excuses, ie. national security, the seals on the vaults are checked every so often, etc. As this gold belongs to every american citizen, and NOT the govt or the treasury, then i believe the people have a right to demand an audit. How can they (the people) do this ?Well here is my hairbrained idea. If somebody on this site knows, or knows someone who knows, people conected with independent radio, those people would have contact with others in radio. Now what if somebody was to convince these radio stations to discuss with their listeners, as to whether they believe fort knox ,holds any gold & if there should be an independent audit or not , as you know there are a hell of a lot of stations al over the U.S. If somehow we could get a large number of these stations to discuss this issue at the same time , it could possibly get people talking about the subject it may even go viral on the net. Then perhaps these stations could ask their listeners , to phone in a.& vote on an audit, a simple yes or no. IFf there were a large number of yes votes , then these numbers could be passed on to RON PAUL, which might help him with request for a full & independent audit. Is this a wacko idea or what ?……….My old gran used to say to me, tony sometimes the most hairbrained ideas are the best, like sending men to the moon. So what do you lot think……….stupid or not.
Tony: You have a good idea, and in a way that is how things do work. But your important point about “this gold belongs to every american citizen, and NOT the govt or the treasury”, is perceived an absolutely truth and more important that is what nearly ALL Americans think or would think if they thought about it. So that begs the question, why is this gold listed on Government books for less than $50/ounce? Could it be the fact that the so called 8,400 tons of presumed gold that is supposed to be there is not or is owned by someone else so that what gold actually owned by the American people is actually only worth 8,400 tons X less than $100/ounce??? If that were true and assuming the government is telling the truth, then we, all Americans have been robbed either by our own government or that they let it happen. Or perhaps all this gold never was owned by America or it citizens. I am only trying to make a logical assessment in deductive/inductive reasoning of what we are told and from that.
Fact is we can be certain that there are people who know all the truths and facts about what has and is happening, and if anyone who is not privy to these secrets does just a small bit of reasoning, the possible conclusions suggest some really serious issues. If the above suggestions have validity and if these people who know all the facts have any kind of logical thinking, the last things they want is an audit or confiscation of American Citizens private gold because the latter will certainly cause the former.
These issues are of paramount importance to all Americans, whether they own any gold or not, and we can be certain that Ron Paul has thought or considered all these things which only goes to suggest reasons why the Down Stream big media downplay Ron’s political achievements at every chance. Big down stream media personnel have been read the “riot act”, which might be why the owners of such keep some easily controlled spokespeople in place of power. But you and I and all those on this page are not stupid, which probably scares a certain number of people to acts of desperate secrecy.
Remember when Ron asked Bernanke “is gold money?”, and Ben’s Hesitant answer was “No”. But he did not just let it go there, Ben went on to explain that neither are treasuries “Money” and a bunch of other cognitive slips.
Clay,
You seriously make some very good and interesting points.
Best and thanks,
Big Al
Here is a problem I would like to hear some discussion on. I think you can make an argument that silver and gold eagles are not exactly your property. They are US currency and the government could pass any law it wants to (i.e. you can’t melt down coins, you must return our coins to us, etc.) if it cared to do so, and they would have some legal ground to stand on. The smart hedger and investor will take this into consideration and buy Canadian coins (which may be safer if you are an American citizen since they can’t come here and prosecute you for not returning their coins to them), or completely get out of government money by buying bullion bars, silver & gold rounds, etc. (which is what I have decided to do). Those who are seriously thinking about confiscation and are trying to cover themselves for eventualities (to the extend one can do so) to keep their shiny should be giving the above some thought.
HI Mr. Irish,
The fact is most radio stations are finance driven. They survive by selling ads. The ads dictate the programming of the stations.
As much as we would like to think that we are the majority, trust me, we are not. The majority of people in the U.S. listen to rap music, etc. They could care less about what we believe.
They could care less simply because they don’t have the time or the interest to stop and think about it.
Sad but true,
Big Al
Hi Big Al, one stock that has been beaten down quite a bit the past 2 months imo is worth a look. GBB on the venture is on the cusp of it’s first 43-101 with an expected resource of at least 3 million ounces at about a half a gram or higher. The deposit starts at surface so given todays gold prices could be very profitable as an open pit deposit. It has been traced over 1.2km by up to 500 meters wide and still open in all directions. You follow gold and gold stocks so I was wondering if you have heard of GBB and if so, what are your thoughts?
Hi Dan,
I will look into it and let you know in this forum.
Best and thanks for the tip,
Big Al
You are welcome. Looking forward to your thoughts on GBB. The are in mining friendly Quebec, close to infrastructure. Rumour has it OSK is watching very closely as they are only 65km west of their Malartic deposit
Hi Al,
Obama does not have a jobs bill it is a tax bill. Taxes do not create jobs only transfer money from the taxpayer to a public sector worker but nothing is created. Anyway, what happened to the 787 billion they used for jobs two years ago??
Obama’s policies and plan is to destroy capitalism which his footsoldiers are protesting on Wall Street. They are so against capitalism but have no problem sitting around with their ipods and ipads. Obama has only fueled the fires he creates. His lastet being against the rich and the job creaters.
Karen,
I know they’re building a lot of new free expansion projects in California…they have a zillion of those orange signs which say “American Recovery & Reinvestment Act”. Have yet to see one of those signs here in Arizona. So *don’t worry*…you’re getting all kinds of great returns on that $787 billion….
Hi John w. robertson,
Yes, I am sure we are getting a lot for our money. I am in NJ and for every sign I see there are 4 or 5 workers standing around talking. I wonder what their pensions are.
Karen,
These folks are probably keeping a number of local bars in business!
Big Al
From the above interviews by Al, and the many before, and from what everyone on this and many prior pages have written. There is only one conclusion I can make and that is the US dollar will decline in absolute value to not less $12,000 per ounce gold at today’s US sovereign debt levels. This means that in some future time and probably less than 10 years $1.00 US will buy 0.002 grams of gold or about a dust sized bit of Gold, which is not really big enough to see with your own eyes.
Clay,,great observation….that is why you would want to be out of the gold market by then
and back into another investment…(bubble time)
HI Clay,
I agree completely as do the comments below from Mr. Irish and Jerry.
Big Al
CLAY. Hello again. Thank you for your reply, you make some really good points & i must say i agree with you 100%, i wish you a very good weekend.
What is it about October that historically brings such problems in the markets. i.e. 1929, 1987, 2008
Hi Dick,
Interesting point!
Big Al
Watching Europe undo itself, with Germany in the backdrop and Greeks crying for bailouts, I keeping thinking about Aesop’s Fable: The Grasshopper and the Ant. Is there any relevance here?
Hi BJ,
Of course there is relevance. It is a perfect example of that great fable.
Big Al
great minds think alike….i used the same example two weeks ago…thanks for reading
Big Al;
A while ago you were beginning to look at Gas and Oil / pipeline companies.
Are you aware of the opportunities that are opening up in Argentina’s Neuquen field?
(The world’s new Baakken) (Spelling?)
Big Al;
Please start using the words “free market economy” instead of “Capitalism”
Zogby did a test of the two phrases and the US populace tested 65% in favor of free market economy, but 53% AGAINST capitalism
Hi cfs,
Point well taken,
Big Al
Hey Rog, You’re a smart guy. Stop calling Schaeuble “Schnabel”, will you? The name is pronounced “shoy-blah”. Thanks.
Hey Alter(GermanDude) …
Schnable ist ja OK weil nur Bloedes aus seiner Schnauze (seimen Scnabel) kommt.
Hello GermanDude,
Your point is appreciated. Thank you,
Big Al
Had GermanRude been following KER for a bit longer, he might have noticed that Rog, by character, is highly unlikely to mis-pronounce foreign names on purpose…. In fact, I even find “Schnabel” to be quite a fitting name due to Schaeuble’s provincial accent.
Well, I now admit that, more recently, spelling both Murksel and Sarcomic wrong, three times in one paragraph, is a lot. Mercksil and Sargozzy won’t care a bit, thou.
Great show this weekend, and I love all the additional content you’re adding. I bought a couple more silver rounds yesterday and have been listening to Michael Lewis’ “The Big Short” on CD. Perhaps Mr. Lewis will one day write a book on those of us who saw dark times ahead and bet on PMs!
Hi Matt R,
The Big Short is an excellent book!
Big Al
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This is the first site I go to for insight, wisdom and comfort. Murphy, Turk and Embry – are solid as silver.
I would be so honored to meet these men as well as Rog and Al.
1) Dexia, BoA, C, MS, tick tock,,,
3) US and UK housing still to fall
2) JP Morgue cannot manipulate for much longer – its derivatives are over 78 trillion
3) Silver inventories are going down although slowly but more apps are coming
4) Banksters will be so overwhelmed with demand from Asia and their own problems, silver will e unleashed for the first time in decades. When? Who knows but it is coming.
Keep stacking the phyzz silver Maples, Buffalo, Cougars, for U and your family – I’m up to 180 now and feel like I have nothing but its 180 more than anyone I know.