Gold, Resource Stocks and the Conventional Market
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HI TEX…What a load of rubbish, & lies on one page…….Was that fiction ?
Irish,
Probably not…these people who have “leadership” rules are absolute morons coupled with a great sense of empowerment to act – even if it is foolish – beyond belief!
Marc
ok…perhaps this one is better…..
http://finance.yahoo.com/news/fed-softens-tone-stimulus-talk-180436972.html
Hello Tex!
see my comment below regarding the FOMC minutes. It’s bogus….again.
Hello Mark,
You’re absolutely right! Bogus indeed. All this talk regarding QE or not to QE is just pablum for the public consumption. Quell investor’s nerves and continue to prop up the worthless fiat dollar, ie, punt the ball down the field a little further.
HELLO TEX…Just how much more lies is going to to come out of the mouths of these people, reminds me of the BOY WHO CRIED WOLF, it wont be long before the sheeple are out on the streets, shouting ..LIARS…LIARS…LIARS.
Tex,
This stuff you’re linking to is hillarious. You could spend your time reading much more worthwhile material! I’m almost tempted to believe you’re joking and just pulling our leg as a stunt?? Are you or are you serious?
HI FOLKS..Go & look at the charts at Silverseek…”Gold seekers closing report”…SOMETHING STINKS.
hello irishtony,
I agree with you 100%!!! Lagarde is full of lies and wind. Deception, deception, and more deception. These people are truely malevolent.
Here’s another one fer yah…
Yep. She said it.
HI again John W,
She is absolutely right. But, we all know that don’t we!
Big Al
Maybe Mrs. Lagarde should buy some gold.
I really like this widnedg photography website.But especially I’m in love with the babies’ photos that you have here !They’re just amazing and so sharp! Good job!
Re: Canasil Resources and Rugby Mining. I wonder what’s happening with these shares? No volume in them today after the beatdown in the previous trading days. And now with gold not besting 1680 today, and dropping below 1650, what’s the hope for the rest of the year. The hedge fund naked short sellers and bullion bank manipulators seem to be able to do whatever they want to keep the PM prices perpetually battered beyond belief.
I know you probably won’t want to hear what i have to say regarding Canasil but, there is a BEAUTIFUL cup & handle forming on the weekly chart. To me it looks great.
Rugby…nah. That’s going to take time to recover and build. Just my opinion
Thanks, Mark. I’m sorry to hear of your negative outlook for Rugby. I have a feeling you are right. Glad to hear about the cup & handle for Canasil. Let’s hope that actually plays out. Once it does, I’m done with Canasil.
HI Tom,
Long term I am not. Their business plan makes too much sense.
If you would like, please talk with Mr. Yamini and then see what you think.
Best,
Big Al
Afternoon Mark A,
I have no problem whatsoever with Canasil.
Let’s see,
Big Al
I didn’t say I had a problem with Canasil. I simply told Tom that on a technical chart Canasil looks great! I would buy it for a nice “pop” to the upside. Rugby Mining, I simply said would take time to rebuild, meaning from a technical chart reading, I wouldn’t be buying it.
Didn’t say that you did. Simply stating my opinion.
Be interesting to hear what Rugby has to say tomorrow.
Best,
Big Al
Yeah! Rugby would be nice to hear from.
Big Al, you just go the extra mile all too often. That’s what I love about this site.
HI Tom,
Interviewed Canasil today and will definitely do one with Trader Rog tomorrow re: Rugby.
Best,
Big Al
Thanks so much, Al. The discussion last night on Canasil was helpful.
Looking forward to hearing about Rugby today!
Best,
Tom
BENB. The Asians…The north Africans & those in the middle east…”GET IT”…Those in Europe & America…are starting to get it & when they do get it , Silver & Gold will stand alone.
Reply to this comment
On April 2, 2012 at 7:20 pm,
Big Al says:
Mr. Irish,
I completely agree with your opinion on this!
Big Al
Reply to this comment
On April 3, 2012 at 11:56 am,
Jessica says:
Irishtony…thise in North Africa mutilate female genetailia, stone women to death and refuse the right for women to vote. In the Mid East they do the same but worse. If there is something they get I don’t want a part of it. This has to be the worst rationale for buying gold. Saying something like…those terrible people who hate everything I believe in and would kill me or subject me to being a sex slave, but they sure are smart cause they know I buy gold.
Never before have I heard such a good reason to avoid gold and a reason for eventual confiscation. Maybe the CIA has been rigging the gold market in the upwards direction since 1998 (the exact opposite of GATAs assertion) because the Marines did find Yamashita and they are sitting on a giant pile of unknown reserves. While rigging the market higher, with a few set backs, the CIA has been selling To the Asians. The Western world would then refuse to accept gold for payment. China and India are broke. They have together 1.3*10^15 USD in unfunded liabilities they have not committed yet. Remember the rationale for buying mining, oil and ag stocks is because as the Asians gt wealthier they will want more western toys and lifestyle. That includes health care and UI. To claim China will be the first nation to get wealthy and not demand health care is foolish. China has worse demographics than the US. All the emerging countries are broke in15- years if they do not top growing before because people will demand social safety nets. What I find so funny about my fellow Americans is they only project negative events for the US out to the future, debt and liabilities, yt only project positive things forward For Asia. I bet in 2050 America is till the largest economy. The 2000-2015 period is viewed similar to the 1873-1890 period. China has barely recovered from its civil war and with the loss of Tibet, India feels mor comfortable to interfere in Chinese affairs, now that china has lost its buffer. The Western states in China are in the midst of a Muslim uprising. In 2030 long after most gold bugs have died one will look back and wish he bought growing dividend payers. If one had bought stocks in the 1880sand sold in 1920 before the bubble one tripled his money. Time was drk in the 1880s. America was not going to survive. Soon Argentina was going to be the favored developing nation for Europran imigrants and Americas run was over.
HELLO JESSICA. I dont get the connection, between PMs, & the treatment of women in Muslim countrys, & yes i can understand your anger at what is happening, to those women & young girls , i will go on record by saying, i find it absolutely disgusting.. obscene..& totally against all decent & moral standards of educated human beings to treat females in this way . Men who treat women in this way, are the lowest of the lowest, & may they all die screaming in pain.
Hi Jessica,
Having three daughters and a wonderful wife of 37 years how could I possibly not agree with Irishtony.
I too fail to see the connection between PMs and the treatment of women which you described.
I have stated for the record many times that I truly love my country, but I fear for its future because of the many things that are going on that I feel are quite negative.
Best to you,
Big Al
Here’s a must-read article from Mike Moaloney’s site:
http://goldsilver.com/video/silver-manipulation-acknowledged-christian-garcia-goldsilver-com/
In sum, silver manipulation has been officially acknowledged:
“Similar to other commodities, the value of gold and silver is determined by supply and demand, as well as speculation. The Federal Reserve, The London Bullion Market Association, JP Morgan Chase, and HSBC Holdings have practiced fractional-reserve banking and engaged in naked short selling causing artificial price suppression.”
That said, I think we’ll all be better off if we sell all of our mining shares now, including the destroyed ones like Canasil Resources and Rugby Mining, and buy physical silver and gold while we still can.
For as much as I like a heavy allocation to physical, I couldn’t disagree more.
I agree with you Matthew!
I bet in 2050 America is till the largest economy. Historians in 2050 will view The 2000-2015 period is viewed similar to the 1873-1890 period. In 2050, China has barely recovered from its civil war and with the loss of Tibet, India feels mor comfortable to interfere in Chinese affairs, now that china has lost its buffer region and India + Tibet controll the Himalayas. In 2050, The Western states in China are in the midst of a Muslim uprising, supported by a powerful Turkey, a wealthy Kazakhstan and a devilish Russia.. In 2030 long after most gold bugs have died one will look back and wish he bought growing dividend payers and American manufacturers. As the shale gas revolution and abiotic oil discoveries proves peak oil wrong, the Mid East is abandoned. US manufacturing is reborn and Asia lacks the crude it needs to grow. If one had bought stocks in the late 1890s and sold in 1920 before the bubble one tripled his money. Time was drk in the 1880-90s. America was not going to survive. The civil war has split the nation. The South was lagging far behind in all aspects. The Irish were imigrating causing tension with protestants In the 1870s and Soon Argentina was going to be the favored developing nation for Europran imigrants and Americas run was to be over. America had a currency collapse just a decade prior and suffered a bout of deflation to boot. Things don’t always work how we project them.
Well, that sound nice and all but…
Until this country can introduce TERM LIMITS for all congressmen/women and senators, eliminate all lobbyists, and introduce a sound fiscal policy, none of what you say will happen. Now if we can get done what I mentioned, there is NO DOUBT that American can turn around and become the number one economy again.
Term limits are a great idea…we would have to give up a few good ones (The Drs Paul), but think of all the bad ones we’d be done with.
HI Tex and Mark A,
I agree completely with both of you.
Big Al
HI Jessica,
For the sake of all of our children, I hope that you are correct.
Just looks kind of bad to me right now.
Big Al
I will take the other side of your bet.
Hi Big Al,
PMs and their equity counterparts are being pushed down like a coil spring. And when that spring lets go, and it will, will I be in or watching from the sidelines. Best to you.
Did anyone notice how foolish this sell-off in the PMs is? The FOMC minutes are from a MARCH 13TH meeting. Mr. Bernanke spoke almost one week AFTER that meeting and said that “further stimulus may be necessary etc..,” So see how the media likes to twist things? Also, thanks to zerohedge for keeping track of all the data that is reported coming out of Washington, 15 of 17 economic indicators MISSED EXPECTATIONS.
Now, if these minutes are from March13th and DO NOT REFLECT THE CURRENT DATA, do you really think that the SMART money sold any PMs today? Nah….I don’t think so.
Also, China is officially on a holiday until Thursday and the strike in India just ended on Monday with jewelers back in action. Yes, today stinks but one has to ask oneself: “What REALLY changed?” Oh! I know what changed! THE MASSIVE AMOUNT OF GOVERNMENT DEBT THAT KEEPS GROWING. Well gollie! I better sell all my PMs because things are great when you live in a society of debt where governments can fix EVERYTHING.
I totally agree with you. This violence will ultimately result in similar violence in the opposite direction. The last of the dumb money is selling today.
I won’t be dumb money today. Probably better if I just cut off my wifi connection and go out for a long walk and forget about this insanity for a couple weeks.
Okay, Mark A
I hate to say it, but governments cannot fix everything!
Big, tongue in cheek, Al
Mark A.
1st paragraph – thats exactly was I was thinkin!..2nd paragraph…your exactly right!…3rd paragraph…laughed my a___ off…good job.
BTW, Jessica, you make some valid points and acute historical observations……I am only interested in investing based on what I see today…..4/3/2012…2050…..not so much. Today, it ain’t so good. Bullion anyone?….I say!
Marc
Here! Here! I will take bullion! Of course maybe the Federal Reserve says otherwise.
Mark Alan: “Oh Mr. Bernanke! You need gold and silver bullion for a stable economy!”
Bernanke: “Bullion? I don’t need no stinkin bullion – ahahahahaha!”
Mark Alan: drops and shakes his head, sighs, then goes to bullion store to buy more bullion to live happily ever after.
The End.
Yep….the end.
MARK…..Funny….But leave the humour to JERRY & ME……Thats what Al pays us for haha
I sure hope Big Al is paying you guys in bullion. If not, DEMAND IT!
take care Mr. Irish
Tinged with some added secret and invisible ingredient!
Big Al
I really like the “ahahahahahah!” attributed to Bernanke. I can just see him morph into a bad guy from a Spaghetti Western. “Hey Blondie!”
“There are two kinds of people in this world my friend: those with loaded guns and those who dig. You dig.”
And lest we forget:
UMMM….Very pretty colours on that chart.
Or as we in the hill country: “PURRTEEFULL”
That chart is so bright, one should be warned to put on sunglasses before viewing. And after studying it, I completely agree with the commentary. No QE, then no stock-market-rally-so-I-can-afford-to-buy-my-kid-a-GI-Joe-with-the-Kung-Fu-grip (little Trading Places ref there).
This was a test, do not attempt to adjust your set or call your congress for this was only a test. In any case I doubt this test woke up any of them as most live is some dreamland far far away.
Bonds took swan dive at interest rose about 100 basis points immediately after the test. Debt burden for the Federal Government just went way up and their b.a-n-k-e-r (money printer) is sweating buckets because when the bank is owed lots of money it is in trouble.
http://www.bloomberg.com/markets/rates-bonds/government-bonds/us/
The Governments in the US are approaching their Minsky Moment, because no amount of artificial stimulus can increase productivity enough to service debt. Interest rate payments by the treasury will consume revenue as this test showed. The can is not going to make it to November, not even half way.
if it does Clay, that can will get COMPLETELY CRUSHED as soon as the election is over.
Let’s see now….
.1% rate hike, x $16,000,000,000,000 dollars national debt,
= $16 billion dollars more added to our national refinancing cost this year. Oh yay.
Good Lawdy! Someone is actually proud of that name!Hi, sptetod you on SITS, clicked your link and was happy to have found a new, great blog. After reading your “About Me” I can see we have a few things in common. Mainly, attitude. But, in my life I have one husband, 3 teenaged daughters and 3 girl dogs. My life is all about the bitches, literally. And I might, (as she whispers) be in my 40’s, but we’ll just leave that little fact out of there. Love your blog! I’ll be back.
I think, Clay, that the atmosphere is going to get very sticky between now and November.
Big Al
A banker at JP Morgan Cazenove, a London-based unit of US investment banking giant JP Morgan, has quit his job after Britain’s financial watchdog fined him for alleged market abuse.
The FSA has accused Ian Hannam of “disclosing inside information in two emails sent”
A top banker at JP Morgan Cazenove, a London-based unit of US investment banking giant JP Morgan, has quit his job after Britain’s financial watchdog fined him for alleged market abuse.
Ian Hannam, chairman of capital markets at JP Morgan Cazenove, said he was resigning to appeal a decision by the Financial Services Authority to fine him £450,000 (€539,000, $718,000) for two instances of improper disclosure.
“I am appealing a decision notice issued by the FSA today and have consequently decided to resign from JP Morgan,” Hannam said in a personal statement.
“I will complete my current client commitments and ensure a smooth handover of responsibilities. Appealing the case while still at the firm would be an unfair distraction to my clients and colleagues.”
In a separate statement, the FSA accused the former soldier of “disclosing inside information in two emails sent in September and October 2008 to a prospective client.”
According to the FSA, the emails contained inside information relating to JP Morgan client Heritage Oil.
“The September email contained information about a potential offer for Heritage and the October email contained information about a new oil find by Heritage,” it added.
The FSA noted that while “Hannam did not set out to commit market abuse … Hannam’s failings were serious in view of his experience and senior position within JP Morgan.”
Tracey McDermott, acting FSA director of enforcement and financial crime, added: “Inside information is extremely valuable and must be handled with care to ensure that it is properly controlled and that appropriate safeguards are observed.
“This applies to all market participants but is particularly important for senior practitioners who will regularly interact with a wide circle of contacts.”
Above RTE news 3/4 /2012
Did I hear right, Trader Rog said the gold and silver markets aren’t manipulated??
Definitely have to discuss that with him Bob!
Big Al
Now THIS IS VERY interesting but I can’t verify it all…yet. But if this is true, then folks, we are winning the war. That’s an awful lot of paper to be flipped for a measly price drop.
http://silverdoctors.blogspot.com/2012/04/6375-milion-ounces-of-paper-silver.html
Hi Al, `Oil prices: Can US, UK, and France drive them down? ` http://www.csmonitor.com/Business/2012/03/0329/Oil-prices-Can-US-UK-and-France-drive-them-dow… Obama wants to get re-elected, so pushing down oil makes everybody in the country, he hopes he`s doing just fine and everything is just peachy.
I’m short oil. Now here’s a thought. Can you in your wild imagination believe the Bernank and Obama are talking about ways of driving down the price of oil (and less importantly other commodities)? One of the ways would be to increase the price of the dollar.
Hi Big Al,
Did the American thing in Wisconsin. Voted for Ron Paul. and bought silver rounds today. Silver being constitutional money still on the books. Best to all.
That’s not just an American thing, Keep Stacking. That’s a TRUE AMERICAN thing!
Good job my friend
The below link is to the band who performed at the Picnic at the Pop from my last night post……not the same show but good stuff: Chris Botti with Billy Childs-Piano, Billy Kilson-Drums, James Genus – Bass and Mark Whitfield – Guitar.
For the Jazz fan….worth a fresh glass of wine and earphones are require.
Check out some the reactions from the members of Orchestra behind these guys….they are having fun.
Followed by my recount of my run in with a Merrill Lynch guy at Marconi’s Restaurant, Huron Ohio…….true story!!!!!
http://www.youtube.com/watch?v=hxdCPgyGOTE&feature=related
I sat down for a beer at a little Italian restaurant and I spotted him right away. Seated to my left it was a pair of French Cuffs with gold and onyx cufflinks. The French Cuffs told me the whole story. French cuffs in Huron Ohio only meant one thing. I knew he was one single malt away from abruptly leaving. It was obvious he loved to hear his voice. He loved what he did. He was ironically proud of his own disgraced brand. I strategically waited knowing it would not take long to get going. He fired out “What is with the tie, what do you sell?” Ignoring the first part of the compound question I answered him “paper”. He jabbed “You sell paper, so do I….. right now Muni Bonds!” I questioned “you think that is a good idea in this environment?” He defensively said “select muni bonds I am good at what I do!” I countered “what about purchasing power?” Others seated at the corner of the bar were visibly intrigued. They knew this could get interesting. He nudged back his stool ….now half standing….. leaning on the edge and fired “purchasing power of what?” I said “well the proceeds from the sale of the bond at maturity or the proceeds when it is eventually sold…….. and for that matter what about the value of the bond when interest rates inevitably rise?”
His ice cubes became audible he answered “we have that risk accounted for……we hedge that kinda stuff!” I said “well I hope the paper you are selling today can buy your cufflinks when it matures.”
He asked for his tab. His ice cubed became loud to the glass. He finished his drink and offered to the few listening to the exchange “I am going somewhere friendly to drink!” He obviously was in love with himself. His economic understanding was stunted by his self-interest. He loved his rich appearance. He loved who he wanted you to think he was. In reality, in the back of his mind he was scared. He went off hastily.
Dressed to the nine he left to spend other people’s hard earned money
sniff, sniff. I feel sorry for that guy with the cufflinks…sniff.
Trader Rog – the precious metals market is “NOT” manipulation you say? Huh? Was this commentary made on April 1st? In the very least, have you ever heard of Andrew Maguire? Come on. I was quite taken back by that unexpected comment.
AJ,
I couldn’t agree with you more. Silver and gold are UDENIABLY manipulated. And that’s exactly what’s going on right at this very moment. Watch silver beaten down below 30, and gold below 1600. At this point, you can’t deny that those things will happen. Not to mention the HUI dropping below 400, the XAU below 150, the GDX below 45, and the GDXJ below 20. INEVITABLE.
Hello Trader Rog,
That comment you made, that the precious metal markets, “are NOT manipulated, but are left to their own devices”??? I agree with all here who question that statement. I can only assume that you misspoke and were actually thinking of something else. I agree with AJ above. Andrew Maguire was willing to risk everything on what he believed to be the case, that J P Morgan and others were heavily involved in gold and silver manipulation. He risked his reputation, character, livelihood, and even his health and life(hit and run auto assault on the day he testified before the CFTC) itself for what he knew to be true. He had investigated it for years, had overheard traders from the London Bullion banks and hedge funds laughing and joking about doing it, saw it reflected in the charts, had proof from emails, etc, etc. Doug Casey just said it. Jim Sinclair just said it, and many others are saying it unequivocably. Maybe, I’m missing something. Please clear this up for us right away. Thank you as always. Appreciate all your good work.
Best
The Thirteenth Angel Gala is always a wueonrfdl experience. To be in the prescence of old friends and relatives who are all there for the same reason, is really a heart warming experience. The evening is enjoyable in many ways; you have good food, music, presentations, auctions, raffle prizes and more! It is definitely an entertaining evening for a wueonrfdl cause.One thing for certain is that when you are there, you know that there is a prescence of something beautiful, a shared love for our friend Angela and a shared goal of helping children and keeping Angela’s legacy alive. Angela touches the hearts of her family and friends to this day, and now everyone has the opportunity to share that feeling. The annual gala is a great way to share good times for a great cause.
Beware of being too US-centric……calls for global “QE” are coming in from afar….
http://timesofindia.indiatimes.com/business/international-business/IMF-chief-calls-on-US-for-more-cash/articleshow/12522131.cms