Al's Insights – Thu 24 Nov, 2011

Thanksgiving Special with James Turk

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Al KorelinJames Turk

  1. On November 24, 2011 at 9:32 am,
    Larrry says:

    Al, the bias up for gold and silver is extremly strong. The players who use gold on an in and out temporary basis will not always prevail in creating supression. In the past supression has always won out. Our time is coming. Happy Turkey Day.

    • On November 24, 2011 at 9:55 am,
      Big Al says:

      Hey thanks, Larry

      Yep, “our time is coming”.

      Happy Turkey Day to you too,

      Biig Al

      • On November 24, 2011 at 3:00 pm,
        James B from Canada says:

        All the best to U and your family

  2. On November 24, 2011 at 9:40 am,
    Lynn - (male) says:

    Happy Thanksgiving to you and yours!

    Trying to stay off of this thing for at least one day and watch the Packer game, but the news is coming out that Portugal is junk. (About time)

    The perfect storm is certainly brewing!

    God bless you and yours!

    • On November 24, 2011 at 9:56 am,
      Big Al says:

      Thanks Lynn,

      God bless you and yours also.

      Good day to just relax and, other than being active on this forum, that is exactly what I am doing.

      Have a good one,

      Big Al

      • On November 24, 2011 at 5:27 pm,
        John W. Robertson says:

        Happy Thanksgiving to you Al, and everyone stateside who celebrates. Ah, heck, Happy-T-giving to everyone. Like you said, Canadians and Americans should celebrate both. Twice as much pumpkin pie that way.

  3. On November 24, 2011 at 10:52 am,
    irishtony says:

    LISTEN UP FOLKS. I have just received an email from the PRESIDENT of the CHICKEN UNION, (MR BANTAM), he tells me his members are getting very depressed with all the attention the TURKEY’S are getting at the moment, so please less talk of turkey,s, give the chickens a break………….THANK YOU (official chicken spokesperson).

    • On November 24, 2011 at 10:54 am,
      Big Al says:

      Sorry, sorry and more sorry!

      I stand corrected!

      Big Al

      • On November 26, 2011 at 12:31 pm,
        silverbug (Dave) says:

        Well, Mr. Bantam you Chicken Union guys ought to be happy! You can carry on Cluck Cluck Clucking, picking that grain off the grass and laying those eggs while your turkey colleagues are killed, stuffed, cooked and gobbled up.

    • On November 24, 2011 at 3:56 pm,
      Jerry (O^OTB) says:

      irish……this is the last time talking turkey……everyone is chichen in the usa, concerning a third party…….so,,,lets talk piigs….and ham it up…..scramble some eggs and slice some bacon….lets chew some fat , and talk prosperity…

  4. On November 24, 2011 at 11:02 am,
    irishtony says:


  5. On November 24, 2011 at 11:06 am,
    Big Al says:

    Only in my book,

    Big Al

    • On November 24, 2011 at 12:54 pm,
      Clay says:

      Funny thing Al, I am reading the same book.

  6. On November 24, 2011 at 12:53 pm,
    Clay says:

    On where the monetary authorities are at, where they are going, and how Keynes was absolutely wrong, listen to this interview of Thomas Rustici Professor at George Mason University by Alasdair Macleod about the Fed and Gold. A real Thanksgiving Feast of knowledge and wisdom.

    • On November 24, 2011 at 7:34 pm,
      John W. Robertson says:

      Excellent interview. Would be nice to have a professor like Rustici.

  7. On November 24, 2011 at 1:13 pm,
    Nigel says:

    Please see if this drives anyone else mad ‘Should government pay off our debts?’ right now I am so angry…

    • On November 24, 2011 at 1:41 pm,
      Clay says:

      Steve has talked about this often, it sounds crazy because it is. But he is right about one thing which is the existing financial system is broken. Please listen to the above interview on Thomas Rustici who explains why this system is broken. It is broken because Maynard Keynes designed it to fail just like all Ponzi or Pyramid Schemes. Keynes would deny this of course, but he was more a dreamer than a thinker.

      In order to “reboot” the economic systems of the G6 and those connected, this existing system and all its political, military and regulatory systems must collapse first, which is of course exactly what is happening. Steve’s Idea only continues the Keynesian model by patching up the can. Unfortunately the economic “Can” cannot be kicked down the road much longer because it has already been pushed, levered, moved and extended over toxic and corrosive debt, salted geopolitical earth and the crushing weight of mountains of regulation. Today the “Can” is so full of holes and not much more than a patchwork of rust than any attempt to kick it with enough force to move it will cause it to go poof in a cloud of dust that blows away. I believe that is possibly what Bernanke is afraid of, and if so I wish he would just come out and say it.

      • On November 24, 2011 at 9:36 pm,
        Greg says:

        I think it was James Turk who said that the “can” has become a boulder because of the ever- increasing debt. There does come a time when kicking will only destroy your toes and eventually see the boulder roll back atop of you to crush the rest of your body.

    • On November 24, 2011 at 7:41 pm,
      John W. Robertson says:


      Chalk it up to one man’s theory who was lucky enough to get an interview. There isn’t enough money to do what he’s proposing, and of course creating more would have it’s own problems. I noted the part where he said “the system failed not the individuals in it…” or something to that effect. I was surprised by that. Many of those individuals were at fault. If by some chance this idea gains momentum, let me know. I’ll buy $3 trillion of real estate just before it goes into effect, then welch on the payments.

      • On November 25, 2011 at 10:13 am,
        Clay says:

        John: I laughed when You said “I’ll buy $3 trillion of real estate just before it …”, because you are so absolutely right. This fiat money can is an absolute disaster, and Steve’s idea of trying to fix something that is so morally and ethically corrupt is also laughable, not going to happen. The longer people in the West, including Japan try and fix what can not be fixed (current monetary systems) the worse it will get and greater the collapse.

    • On November 26, 2011 at 12:34 pm,
      silverbug (Dave) says:

      ‘Should government pay off our debts?’
      That’s so BBC establlisment double talk.
      Government pay off our debts?! We will be paying off the government debtsas far as our limited lifetimes are concerned, practially forever!

  8. On November 24, 2011 at 3:01 pm,
    cfs2000(David) says:

    As an example of broken financial markets, one of the ETFs I own is SKF, a double short on financial stocks.
    The TA for SKF today is:

    SKF – Ultrashort Financials (AMEX)

    Date Open High Low Last Change Volume % Change
    11/23/11 73.89 76.41 73.83 76.28 +4.08 2217500 +5.65%

    Composite Indicator
    Trend Spotter TM Hold

    Short Term Indicators
    7 Day Average Directional Indicator Buy
    10 – 8 Day Moving Average Hilo Channel Buy
    20 Day Moving Average vs Price Buy
    20 – 50 Day MACD Oscillator Sell
    20 Day Bollinger Bands Buy

    Short Term Indicators Average: 60% – Buy
    20-Day Average Volume – 2385810

    Medium Term Indicators
    40 Day Commodity Channel Index Hold
    50 Day Moving Average vs Price Buy
    20 – 100 Day MACD Oscillator Sell
    50 Day Parabolic Time/Price Buy

    Medium Term Indicators Average: 25% – Buy
    50-Day Average Volume – 2567490

    Long Term Indicators
    60 Day Commodity Channel Index Hold
    100 Day Moving Average vs Price Buy
    50 – 100 Day MACD Oscillator Sell

    Long Term Indicators Average: – Hold
    100-Day Average Volume – 2417530

    Overall Average: 32% – Buy

    Price Support Pivot Point Resistance

    76.28 72.93 75.51 78.09

    It is certainly offsetting some of my losses on oil and PM stocks!

  9. On November 24, 2011 at 3:05 pm,
    cfs2000(David) says:

    As with all leraged ETFs it is necessary to have stops fairly close and accept being stopped out, while watching the TA for changing trends.

    • On November 24, 2011 at 6:56 pm,
      Mar says:


      I have owned SKF as insurance for a financial collapse for a few years….not a lot mind you..but anyway, the B of A could collapse and SKF would still not climb! Its ridiculous!

  10. On November 24, 2011 at 3:30 pm,
    cfs2000(David) says:

    The problem with Keynes is the appearance of short-term GDP growth, while, in fact, the short-term growth due to government spending only appears because the inflation effects which occur if the government does not balance its books are delayed a few quarters, and if the government does balance its books by increased taxation, because private non-government spending is always more efficient than government spending, the resultant reduction in growth due to taxation is always greater than the growth due to Keynsian spending. Keynes theories have never worked over any longer term time period, and the supid politicians who use Keynsian spending to buy votes and get re-elected should all have dates with Madame La Guillotine.

    • On November 24, 2011 at 3:51 pm,
      irishtony says:


  11. On November 24, 2011 at 4:27 pm,
    Robert says:

    Hi Big Al,

    call me crazy, but i see days where gold can move up 200$ in one day! What do you think?

    Happy Thanksgiving

  12. On November 24, 2011 at 4:45 pm,
    Ken says:

    This country is heading in the direction of Nazi Germany.

    And if you don’t believe that just listen to the podcast below.

    Our criminal government is trying to destroy the family farm.

    I know of only ONE candidate who will stop this and you know who he is. Not the Cainster or the Rommulen (inventor of Obammie Care) or any of those other criminal idiots. The ONE person who will stop this is RON PAUL!

    • On November 24, 2011 at 5:18 pm,
      Jerry (O^OTB) says:

      Ken…great post…….This is why we need a third party….and term limits…

    • On November 25, 2011 at 7:34 am,
      Gatorman says:

      Just a question. How do arrive at your opinion that Ron Paul is the only candidate that could stop the destruction? Just asking.

      • On November 25, 2011 at 8:36 am,
        Matthew says:

        RP understands that markets repair themselves very quickly if allowed to. Mountains of regulations, taxes, and meddlesome monetary policies only prolong the pain by interfering with the natural rebalancing that that takes place between supply and demand. By undermining the process by which markets clear themselves of the excesses caused by poor decisions, participants cannot be confident that prices are correlated to value. Without confidence, economic corrections drag on. RP could restore confidence with his policies of non-intervention and low taxation.
        Notice that we do not hear much talk of the depression of 1920-21? Here’s why (from wikipedia): Libertarian Austrian School historian Thomas Woods argues that President Harding’s laissez-faire economic policies during the 1920-21 recession, combined with a coordinated aggressive policy of rapid government downsizing, had a direct influence (mostly through intentional non-influence) on the rapid and widespread private-sector recovery.[12] Woods argued that, as there existed massive distortions in private markets due to government economic influence related to World War I, an equally massive “correction” to the distortions needed to occur as quickly as possible to realign investment and consumption with the new peace-time economic environment.

        • On November 25, 2011 at 1:38 pm,
          Gatorman says:

          Thanks for the response and explanation. I agree with most of your points but I question Ron Paul’s foreign policy. I think it is too radical to get him elected. He would obviously turn the country around with his fiscal policies but his foreign policy will keep him from getting elected. He needs to moderate his position(in my opinion).

        • On November 25, 2011 at 7:25 pm,
          John W. Robertson says:

          “…a direct influence mostly through intentional non-influence…” Beautiful.

      • On November 25, 2011 at 8:41 am,
        Matthew says:

        I left out the most important aspect of a Paul presidency: Respect for individual rights and the restoration of the common sense found in the constitution. The creatures running against RP display no respect for either.

        • On November 25, 2011 at 9:10 am,
          Jerry (O^OTB) says:

          Matthew….great post as always…

  13. On November 24, 2011 at 11:00 pm,
    castanheiro says:

    Thanks for the link to the Rustici interview. Most excellent and informative. I think it just goes to confirm what we all see going on, which is that we are quickly approaching the “endgame”. How much more can the rubberband be stretched? You all can remember, that as you stretch a piece of rubber, it gives in readily at first. But the more you stretch it, the elasticity disappears. Then it reaches that point, where just before it snaps, it won’t stretch any further. i think we are almost at that point.
    James Turk is always excellent. So sure and steady and I like his humility. Great guest.
    Well, time to get to bed. Those second helpings of turkey are doing my eyelids in.

  14. On November 25, 2011 at 6:04 am,
    Hemal says:

    Friday morning Europe…..Italy just sold some 2 year bonds at 7.8% (2billion worth). On the back of the German bond sale failure yesterday, this is very worrying……..I apologize for the bad news first thing in the morning.

    • On November 25, 2011 at 7:26 am,
      Jerry (O^OTB) says:

      Hemal…..thanks for the news…..just of signs to come…..rates are going up…sometime..

      • On November 25, 2011 at 11:24 am,
        Hemal says:

        The whole thing is being held together by the tiniest thread. Very sad that we keep getting the same half measures and noise from Politicians on both sides of the Pond!

  15. On November 25, 2011 at 6:50 am,
    cfs2000(David) says:

    All my TA indicators, except for MACD oscillators, turned positive for the majority of precious metal shares (approx some 250/350 that I follow) this morning. Could be absence of banksters from the market, but looks like a change in market attitude to me.

    • On November 25, 2011 at 7:20 am,
      Hemal says:

      I hope you are right. I am hurtung real bad!

    • On November 25, 2011 at 10:52 am,
      cfs2000(David) says:

      Boy, was I wrong… was just the banksters sleeping in. No sooner had I posted the comment than everything began to go south.

      Jim Rogers’ comments (good read):

  16. On November 25, 2011 at 7:23 am,
    Matthew says:
    • On November 25, 2011 at 7:30 am,
      Jerry (O^OTB) says:

      Matthew,,,,how was you Thanksgiving? Ditto on the above.

      • On November 25, 2011 at 7:32 am,
        Jerry (O^OTB) says:

        you…..spelling error…just put the”r” on

      • On November 25, 2011 at 8:45 am,
        Matthew says:

        It was great. I hope yours was too!

  17. On November 25, 2011 at 1:18 pm,
    castanheiro says:

    Thanks for the link to the Double Dollar Top chart. Very revealing chart pattern.
    I too agree.
    Best to you,