Al's Insights – Sat 28 Apr, 2012

Big Al, Chris Temple and Lynn Sylvestor discuss economic issues.

Click download link to listen on this device: Download Show


Featuring:
Al Korelin

Comments:
  1. On April 28, 2012 at 1:11 pm,
    Dennis M. O'Neil says:

    Hey Al,
    Is this the Chris Temple from Binghamton N.Y.? If so, I also bode from the town Rod Serling grew up in. If it is give him my e-mail and phone info. THANKS

    • On April 29, 2012 at 12:33 pm,
      Big Al says:

      I think he is Dennis M,

      I will get in touch with him.

      Big Al

  2. On April 28, 2012 at 1:47 pm,
    Richard says:

    Chris is pretty much right on. We have ongoing deleveraging in an environment of ongoing money printing. It’s a push/pull and will continue. Where I part company with him is when he talks about how central bankers are going have to print even more money to help the banks and then ultimately we’ll see the inflation. When there’s no velocity to that money being printed and people’s wealth is compromised more and more, there won’t be sufficient demand for all that money plus the banks with their new found responsibility of lending standards will still not be lending. We’ll get inflation when you see people rising up and rebelling. At that point the money printing will continue but governments will shift their recipients from the banks directly to those in need. That’s when you will have the seeds of inflation sown.

    • On April 28, 2012 at 6:19 pm,
      Marc says:

      Richard,
      You bring out a really good point. The velocity of money is something I haven’t really pondered much. But, your points are well taken and we are in for a struggle of immense proportions.
      All the best,
      Marc

      • On April 28, 2012 at 6:31 pm,
        Mark Alan says:

        Hey Marc

        What Richard is talking about is THE key to inflation, not the money printing. The newly printed money HAS to start circulating throughout the economic system, not just within a sector or industry. What central banks are doing is giving the money to the banks to pay off debt owed to other banks…it isn’t going into the public’s hands. This is intentional. A man named Richard Mayberry who runs a website and a newsletter “EARLY WARNING REPORT”. He does a great job of explaining this concept.

        stay frosty

        • On April 28, 2012 at 9:57 pm,
          Marc says:

          Exactly..Mark A….I going to that website as I write this…thanks!

        • On April 29, 2012 at 12:35 pm,
          Big Al says:

          HI Mark A,

          Richard does have an interesting newsletter.

          Best,

          Big Al

      • On April 28, 2012 at 7:00 pm,
        Richard says:

        Marc, thanks. I think this is the area most people miss in talking about imminent inflation. It is true that unit labor costs are rising and that may give some boost to inflation but right now the central banks can print all the money they want but in a deleveraging society, it’ll take awhile before all that printed money is effective in fostering inflation. It will however, create periodic asset bubbles just like it has in the past. Two of them right now are the equity market and the bond market.

        • On April 28, 2012 at 7:35 pm,
          Mark Alan says:

          And I think that the equity market may get a little bit more propping over the next two months. we will see.

          • On April 29, 2012 at 12:36 pm,
            Big Al says:

            How about over the next six months, Mark A?

            Big Al

    • On April 29, 2012 at 12:34 pm,
      Big Al says:

      Interesting points, Richard.

      Big Al

  3. On April 28, 2012 at 6:19 pm,
    Lynn - (male) says:

    Hi Al.

    May I say it was pleasure to meet you, Chris, Peter, Mickey, Marshall, and hear all of you guys at the working lunch. And thanks for having me. I sound terrible not being able to get all the information in my head out in a decent sentence. (Very nervous).

    Have a safe trip back home and thanks for letting sit in with you, Peter, and Chris when the Dr. came by.

    Best regards,
    Lynn

    • On April 28, 2012 at 6:24 pm,
      Marc says:

      Lynn,
      Honestly, you did great! You did not sound nervous and your points were explained really well. Big Al is a hoot…isn’t he! :)
      All the best,
      Marc

      • On April 28, 2012 at 6:25 pm,
        Marc says:

        As in, real fun to be around!

        • On April 28, 2012 at 6:50 pm,
          Lynn - (male) says:

          Indeed Marc :D

          We didn’t have a chance to sit at the bar and have a beer together but going to that conference was quite the learning experience.

          Hey ya wanna something? All of my conversations with him, Peter Grandich, and Suzanne are exactly as to what we discuss in here.

          We are family,
          Lynn

          • On April 28, 2012 at 7:17 pm,
            Marc says:

            Mark A., and Richard,
            You guys are great contributors of information on the PM’s and I really appreciate all your input!
            Thank you.

          • On April 28, 2012 at 7:19 pm,
            Marc says:

            Oh yeah, I bet and yes….
            we are a family of caring, like minded individuals trying to help each other learn, grow and bob/weave through unprecedented times AND unchartered territory.
            All the best,
            Marc

          • On April 29, 2012 at 12:38 pm,
            Big Al says:

            You bet we are, Lynn, you bet we are! What a blessing!

            Big Al

    • On April 29, 2012 at 12:37 pm,
      Big Al says:

      You, my friend, are a good guy. Many thanks for coming by. It was a pleasure to have you on the show.

      We will do it again!

      Big Al

      • On April 29, 2012 at 6:03 pm,
        Lynn - (male) says:

        Hey Al.

        You provide an invaluable service of educatiion to most of us. You, Peter, Chris, etc. We learn so much.

        I have sent you a couple of items to your comcast email. Have you received them?

        Lynn

  4. On April 28, 2012 at 7:34 pm,
    Mark Alan says:

    Now THIS says it all! Enjoy the link folks! This is very important and should be a MUST read.

    http://www.zerohedge.com/news/guest-post-golds-value-today

    • On April 28, 2012 at 7:43 pm,
      Lynn - (male) says:

      I particularly like this “says it all” comment from Likstane–> “I’d like to smack Ben in the head with a gold bar, and then ask him if it felt like money.”

      I guess he said a little more ;)

      • On April 28, 2012 at 8:10 pm,
        Dennis M. O'Neil says:

        Lynn you sounded great and made your points.
        I would suggest only one nuance to what you said….that is AIG was not bailed out …taxpayers providing liquidity to AIG was an indirect bailout of Goldman Sachs.

        You referenced recent examples of hyperinflation…with all the thoughtful concerns you raised one must ask…is it impossible for us to be added to this list?
        Great job Lynn(male)!!!

        http://en.wikipedia.org/wiki/Hyperinflation

        • On April 28, 2012 at 9:55 pm,
          Lynn - (male) says:

          I gotta tell ya Mr. O’Neil, I went to that conference not to seek out recognition and just to get on Big Al’s blog, but because we have seen what has happened and I am not one to sit back and allow some investment banker control my financial future.

          I have no trust in Charles Schwab and Goldman Sachs. I have even stopped funding my 401K and am setting aside that which I would be putting in to it specifically for making investments that I feel more comfortable with and able to sleep at night. At least with mining shares I could have a piece of what they mine :D

          Thank you much for the nice comments,
          Lynn

    • On April 28, 2012 at 9:05 pm,
      Marc says:

      Mark A.,
      Jianhua from the BANK OF CHINA said it loud and clear. No asset is safe except cold hard currency – gold! Can you imagine the head of B of A saying that……ah, NO….a resounding NO!!
      All the best,
      Marc

    • On April 29, 2012 at 12:39 pm,
      Big Al says:

      Thanks Mark A,

      I will download it right now.

      Big Al

  5. On April 28, 2012 at 8:14 pm,
    Jerry O^OTB says:

    Lynn…..did a great job….Now he can sit in for Big Al when he is on vacation,
    which is every other week…..

    • On April 28, 2012 at 8:56 pm,
      Dennis M. O'Neil says:

      At least Al has not gone John Gault on us!

      • On April 29, 2012 at 4:47 am,
        Jerry O^OTB says:

        John who?

    • On April 29, 2012 at 12:41 pm,
      Big Al says:

      You my friend, Mr. In the Box, are sooooo full of s–t!

      But you know what, we can’t do without you!

      Best,

      Mr. Vacation

      • On April 29, 2012 at 4:14 pm,
        Jerry O^OTB says:

        Thanks Big AL,
        hope you had a good time in the windy city,chi town..did you get out on the Lake
        Great town Chicago….

        • On April 29, 2012 at 4:48 pm,
          Jerry O^OTB says:

          By the way….You and Peter, could be the “Blues Brothers”
          just in case this silver thing does not work out….

        • On April 29, 2012 at 8:20 pm,
          Dennis M. O'Neil says:

          A guitar salute to “Sweet Home Chicago”:
          http://www.youtube.com/watch?v=ZEmvBdRLg4k&feature=related

          • On April 29, 2012 at 8:26 pm,
            Dennis M. O'Neil says:

            JUST SAW THIS !!! Check out the Ron Paul sticker on the AMP behing Jimmie Vaughn at aprox 6:58 makes the jam even better!

          • On April 29, 2012 at 8:27 pm,
            Dennis M. O'Neil says:

            Ron Paul Sticker at 5:58

          • On April 29, 2012 at 8:29 pm,
            Jerry O^OTB says:

            DID YOU SEE BIG AL ON STAGE…WOW….GO MAN GO…

          • On April 29, 2012 at 8:41 pm,
            Jerry O^OTB says:

            oh,,sorry That wasn’t AL…..THAT WAS ERIC CLAPTON……

          • On April 29, 2012 at 10:02 pm,
            Dennis M. O'Neil says:

            I thought Big Al was on the drums.

          • On April 29, 2012 at 10:49 pm,
            Dennis M. O'Neil says:

            Check out our second to next President give guitar lessons.
            You can tell he is going to run by his flag guitar and flag stand on stage.
            Note at the end he says after the protege jammed.”America…there is still hope…America!”
            http://www.youtube.com/watch?v=ULO1TB0cfYc&feature=related

  6. On April 28, 2012 at 8:58 pm,
    D. Brophy says:

    Hi Al, I`ve liked the discussions on the early program and this program or show. Since I`ve been mining my own material and producing product to be sold to a refiner, these guys have a vault as part of their refining to keep your gold, Ag, Pt, Pd just wondering how safe would you think it would be to keep a vault account for your metal at their refinery? Would you feel safer there or at where you live just wondering?

    • On April 29, 2012 at 4:54 am,
      Jerry O^OTB says:

      D.B…..I have several vaults….a colt revolver….and a pit bull (actually it is a maltese,
      but don’t tell her that) and I would only charge you a $100 usd per month……
      but, it would have to be already refined………and the bars would have to be unnumbered…….waiting for your kindest response…..
      Respectfully,
      THE GOLD HUNTER AND STORAGE COMPANY,

      • On April 29, 2012 at 10:16 am,
        Dennis M. O'Neil says:

        Who is John Gault?

        • On April 29, 2012 at 4:15 pm,
          Jerry O^OTB says:

          Dennis,,,,just joking on John G…

      • On April 29, 2012 at 12:44 pm,
        Big Al says:

        Common, Mr. In the Box, no ads on this site unless they are paid for!

        Big Al

        • On April 29, 2012 at 3:54 pm,
          Jerry O^OTB says:

          AL ,,,CHECK THE PETTY CASH…,IRISH GAVE ME A PAID RECEIPT….

      • On April 29, 2012 at 2:30 pm,
        Irishtony says:

        D.B. …….I have an old wooden trunk….a bow & arrows…..a mad hamster ( crazy little critter )…… i would charge only $1: 37 per calendar month , you can put as many numbers as you want on your bars……that jerry fellow is a bit dodgy……so thrust me…THE _CON UK UNSECURED STORAGE SHED

        • On April 29, 2012 at 3:23 pm,
          Marc says:

          Irish (Jerry), get your buns over to good ol’ SD….you guys crack me up1 :)

          • On April 29, 2012 at 4:00 pm,
            Jerry O^OTB says:

            I am leaving flordia for the summer….I need a cabin in the mountains, will work for
            dirty….or rocks….Please post with any and all offers…..

        • On April 29, 2012 at 3:37 pm,
          Al Korelin says:

          Again, Mr. Irish, I have to repeat, “no friggin commercials until The Sheriff gets paid!”

          Shall I send you a contract?

          Big Al

    • On April 29, 2012 at 11:02 am,
      D. Brophy says:

      Jerry are you for real or serious or is this a gag? Also at this refinery(David H. Fell) its no charge they told me, just a few days ago.

      • On April 29, 2012 at 4:45 pm,
        Jerry O^OTB says:

        I know , some of my offers really sound to good to be true…..

        • On April 30, 2012 at 1:20 am,
          D. Brophy says:

          Jerry on this site its only words that matter and perhaps no thought behind the words. The preacher sought to find out acceptable words: and that which was written was upright, even words of truth.(Ecclesiastes 12:10)

          • On April 30, 2012 at 8:16 am,
            Jerry O^OTB says:

            ALL WORK AND NO PLAY, MAKES ONE DULL…..
            D. B…AND BESIDE, ALL THE PEOPLE HERE ARE NOT IN THE WORD, BUT, IN THE
            WORLD….,
            hoping that this post , does not offend you brother….for this is as they say
            IRON SHARPENING IRON….OOTB….

    • On April 29, 2012 at 12:43 pm,
      Big Al says:

      Hi Den,

      Which “guys” are you referring to? (Remember, I am an old fart with no memory!)

      Big Al

  7. On April 28, 2012 at 11:31 pm,
    Jim (male) says:

    Lynn, you and AL should do this weekly!!! Great informative JOB

    • On April 29, 2012 at 12:45 pm,
      Big Al says:

      Afternoon Jim,

      Lynn is a good guy as you all are. (You too Karen!)

      I would be honored to have more of you on the show.

      Big Al

  8. On April 29, 2012 at 6:06 am,
    shawn says:

    I think that the bubble from Chinese Real Estate has now moved to Toronto, we presently have over 150 high rise condominiums being constructed right now. According to the Ontario Building Code a high rise building is one that is from 18 to 44 floors in height this by the way does not include all the many,many, other buildings now being constructed that are over or under these dimensions. Everywhere you look cranes dot the horizon. Most of these condo’s are bought by wealthy Chinese who get the first dibs on all the units and typically they buy 25 to 100 units at a go that is how they are marketed. Canadians are so smug about their financial system, they could be in for a real cold shower. All these units are backed by the Federal Governments CMHC program does this sound familiar to Americans.

    • On April 29, 2012 at 8:51 am,
      Richard says:

      Canada’s banks have been very responsible in the past versus the American banks. Maybe they feel left out of the real estate debacle and want to join in.

      • On April 29, 2012 at 12:47 pm,
        Big Al says:

        I hope not, Doc, I really hope not!

        Big Al

    • On April 29, 2012 at 12:46 pm,
      Big Al says:

      That Shawn, as you are probably aware, is similar to the situation in Vancouver.

      Big Al

  9. On April 29, 2012 at 8:53 am,
    None-of-the-above says:

    What an annoying female voice in the background: “Hey! I thought I so you up there. How are ya? …”. One of the sheeple ready for the slaughter…

    • On April 29, 2012 at 12:47 pm,
      Big Al says:

      Sorry, None-of-the-above, I have no idea what you are referring to.

      Big Al

  10. On April 29, 2012 at 10:19 am,
    Bobby says:

    Ok, here is a question for the board:
    If gold and silver are money or a real currency, why not convert 90% of your cash to gold and silver? Leave 10% for spending money where gold and silver are not accepted.
    FWI, the next time i need to buy a car, (private party 2nd hand) I am going to make my offer in gold and or silver.

    • On April 29, 2012 at 12:12 pm,
      Marc says:

      Sure why not! I don’t have a problem with that. I am close that already. But, I can sleep at nite…some people have a hard type accepting the world is changing. I, for one, thank the Good Lord, see the change and respond accordingly. Not investment advice, just responding to your inquiry!
      All the best,
      Marc

    • On April 29, 2012 at 12:49 pm,
      Big Al says:

      Afternoon Bobby,

      Let me know if that works.

      You may be misunderstanding the context of our comments regarding gold and silver.

      Big Al

  11. On April 29, 2012 at 1:27 pm,
    Bobby says:

    Al,
    I understand what you are saying, just wanted to see if anyone was ready for a new currency. (not investment advice, just stating what I have been doing)
    I have been there (90%) silver and gold for 3 years now and YES, it is working out very well. As for the car, I will not be buying another for several years, by then, I hope we will be back on the gold standard.
    Ah and by then the medium price of a home could be 500 ounces of silver as well and a good time to buy.
    Bobby

    • On April 29, 2012 at 1:51 pm,
      Marc says:

      Bobby,
      You are in the minority EVEN with hard asset investors – like me. But, who am I to say what is right or wrong. I know Big Al and I have discussed this many times on the blog and a couple time in person. I have plenty of cash. But, you never know. I think the best thing to realize is “don’t get caught with your pants down in this market”. Emergency funds and other essentials in paper dollars is essential for a well rounded portfolio of common sense and diversification. But, to each his own. All the best to you. I don’t see G and S falling through the floor anytime soon and really – probably not ever! Nor do I see the US dollar crashing in the immediate future. But, things are changing toward a more “honest” way of transacting business and commerce. The EASTERN BEHEMOTH is slowly but steadfastly demanding it!!
      All the best,
      Marc

      • On April 29, 2012 at 1:57 pm,
        Marc says:

        BTW,
        Your car comment shows your prudence and handle on “depreciating assets”. That’s what a car is. It all about utility and getting from point A to point B. Most Americans buy cars with their egos. You buy with a clarity of mind indicative of your hard-asset, common sense mind. As you to your other comment about 500 ounces of silver. The majority of people would say you are “out to lunch”. I say, you could could very well be spot on!
        Marc

        • On April 29, 2012 at 2:45 pm,
          Bobby says:

          Marc,
          Thanks, I think we are on the same page. Even I, thought the end of fiat would be still way down the road…. but seeing more talk in the semi-MSM regarding how close we are to a currency change (China buying oil with gold) is encouraging to me. Remember, as soon as gold/silver is recognized as money the outragious taxes on them will go away. when I sold my home in Cali two years ago, it brought the equilivant of 42,500 ounces of silver, today’s value is 21,000 ounces. If only people though of things in term of “real value” they would have a more clear idea of what was really happening. And yes, my friends told me i was crazy to sell my home and invest in silver. Today I rent a resort style condo on the beach in Florida for 48 ounces of silver a month and live debt free. Perhaps I am “out o lunch”. Time will tell.

          Bobby

          • On April 29, 2012 at 3:26 pm,
            Marc says:

            Bobby,
            I don’t think so.
            All the best,
            Marc

          • On April 29, 2012 at 3:43 pm,
            Bobby says:

            Marc,
            You are correct. People cannot get their head around the concept.
            Bobby

      • On April 29, 2012 at 3:39 pm,
        Al Korelin says:

        Yep Marc, the Eastern Behemoth is starting to demand it! And, know what, why shouldn’t it?

        Big Al

        • On April 29, 2012 at 4:26 pm,
          Marc says:

          Big Al,
          Exactly right!

    • On April 29, 2012 at 2:09 pm,
      shawn says:

      Why not get your boss to pay you in one ounce gold coins and then you would only have to pay tax on $50 for every coin issued; nice idea but it is now being tested in the courts.

      • On April 29, 2012 at 2:48 pm,
        Bobby says:

        Great idea, shawn. Also i would not try to leave the country with 200 eagles (face value $10,000) cause you just might find yourself in the clink.

        • On April 29, 2012 at 3:41 pm,
          Al Korelin says:

          Yep, at our border crossing there is a very prominent sign that states everyone must declare it if they are carrying more than $10K. Stock certs, cash, bullion, etc.

          Big Al

  12. On April 29, 2012 at 2:43 pm,
    Irishtony says:

    shawn ……. company’s in the city of London tried that many years ago , you know that time when we had all the yuppies………The uk gov. passed a new law overnight to prevent it …………”THEY ” wont allow it …remember if it’s not made of PAPER , then “THEY” dont like it.

  13. On April 29, 2012 at 5:12 pm,
    shawn says:

    There is a very good program that comes on PBS every Sunday night at 8 pm. called finding your roots, tonight they are doing Condoleza Rice, I would dearly like them to look at Barack Obama, this would be very interesting.