James Turk discusses gold with Big Al
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Pretty great up here also, Marc!
You too have a great weekend, my friend.
Big Al
I love the way Dr. Faber honestly dcsteiss the reality of the class war in America. He has no horse in that race, and doesn’t have to dance around political correctness. He’s so right about the rich vs. poor class warfare is so obvious to anyone with 2 or 3 brain cells to rub together. The Fed cares about employment of the working class? Does anyone believe that nonsense?
I know what your saying, after renidag his book it was perfectly clear that not only does Marc have global experience in almost every continent but that he has read and studied the history of economies and the political situations after economic crisis. Not to mention he got his phd at 24, thats why im more worried of hyper inflation than a 5 year credit contraction.
BTW, I can’t remember G and S being so mechanically range-bound for so long…maybe my memory is short, but the trading has been really robotic lately. Am I right or am I full of it! Losing patience, nah…just trying to start up the investment conversation this morning!
See ya,
Marc
One last thing – I LOVE what Schoon says everytime he ends his particular articles….BUY GOLD, BUY SILVER….HAVE FAITH..great words of wisdom for our newcomers out there!
Marc
Worked so well with the tech stocks.
He says “tongue in cheek”!
Big Al
Har,
You will definitely need to know when to get out….that time has not yet come….it will like be pretty obvious..i.e. the macro-fundamentals will start to break-down and a series of other sign posts will be right there to signal an exit…people who got caught in the tech stocks – with all due respect – got very greedy…didnt know what they were doing and got hurt…I mean, why would you not get out of stocks that were producing NO INCOME, had INSANE multiples and were just being bought and driven up because they just had “dot.com” in their name……like they say…in NFL Countdown…COME ON MAN!
All the best, 🙂
Marc
EXACTLY RIGHT, Marc.
So true, Marc.
I’ll never forget a conversation I had with a neighbor back in those days. He was lamenting the fact that his IRA was down 50%. My question to him was the exact same thing you said above.
The reason I switched our program from conventional business to hard assets back then is that I very obviously did not understand the absolute stupidity of the conventional market.
A broker friend of mine actually tried to sell me a company in that sector and my response was “you can’t be serious”!
Big Al
Yep, Big Al and Professor Matthew – I say that, with all due respect and with a little, jealous of your talents!! 🙂
James Turk is very consistent. I’ve heard him interviewed probably 20 times or more and there’s two points he always emphasizes: physical possession of gold and silver have no counterparty risk; and, physical metals are a form of savings, of something real. Suppose you were to lose all your income, for whatever reason, how long could you survive on your savings? Days? weeks? years? If you can’t answer that question with “years” you don’t own enough metal.
Amen Arnie D, amen!
Big Al
Time to face the music armed with this great inomioatrfn.
Sell in may and go away…summer doldrums nothing happens until maybe aug sept…every litle up day and you guys start saying the trend is going back up…not for many more months…then the elections and who knows IF we will get a decent uptrend
Morning Reo,
Be interesting to see how this plays out.
I personally on the side of “the trend is going back up”.
We will see,
Big Al
AT 14% return, your money will double in 5 years…..RULE OF 72….
so, that means…. $1620 gold will be $3240 in 5 years…
I will take that
No, Jerry I will take my 1% in CD’s put blinders on and stick my head in the sand. Wait, how would that work?! Oh well, wake me up when it is over. the five years that is!
Marc
Mr. In the Box,
Maybe.
If you go back 5 years you will certainly see great appreciation in gold. As a matter of fact it was greater than a double!
Big Al
One or two to reermbem, that is.
hey Big Al!
Great interview. I could listen to this guy speak every day. He has class and he is such a humble guy. It’s people like James Turk who really add a fine polish to Big Al’s site! He is not a cheerleader, nor a “chicken little” and he stays away from getting his listeners “all worked up”. Very cool and collective. Bring him back more often!
Morning Mark A,
Good idea!
Big Al
I agree. James brings straight business talk with composure. I invested in gold after reading his book when it first came out. My only regret is sticking to 10% of my savings. Man, at $400 I should of bet the farm. Then again, hind site… Lol does anyone know if there’s an etf for corn and oil? Roger talks of corn, I have no clue how to get into that without knowledge of futures. Thanks.
Morning Brent,
I will pass this on to Roger.
Big Al
Big Al,
Happy Friday the 13th….if the USA keeps up these financial shenanigans – everyday will be Friday the 13th for its citizens……have a great weekend Big Al and I look forward to the show tomorrow. James Turk is such a respected and reputable guy – always enjoy what he has to say. When I first started on the hard asset road to financial survival, I gravitated right to JT because his knowledge and presentation skills are muy excellente! Now, off to go feed my cat and have some coffee on a beauuuutiful morning in SD.
All the best – my friends!
Marc