Weekend Show – Sat 19 May, 2012

From the 2012 New York Hard Assets Investment Conference

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In this show Al discusses:



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Featuring:
Al KorelinJonathan MooreLenic RodriguezJohn KaiserYale SimpsonBill Howald
Ron HeraLawrence Roulston

Comments:
  1. On May 19, 2012 at 4:38 am,
    Richard says:

    I listened to the Lawrence Roulston segment. Al, you and the fellow that thought each other were nuts as regards the resource sector and treasuries could both be right. My personal belief is that the 10 year treasury will not see 2% again for a loooooooong time. Also certain selective resource companies will do very well again but I agree with Roulston that they could get a lot cheaper yet. I’m waiting for that opportunity and in some cases that will occur well into the fall for some. There are already some that are so washed out that I’m slowly purchasing them now and these are some juniors that have taken a beating. The major companies (generals) have further to fall and I’ll wait to pick them up in the fall when they are even cheaper. They’ll tell you when to purchase them since they’ll show a bottoming out on technicals. They won’t suddenly reverse. People will not have to hurry to purchase them since there will be a bottoming process giving them plenty of time to take a position. Many will have given up on them by then.

    • On May 19, 2012 at 4:58 am,
      Big Al says:

      Morning Doc,

      I agree that many people will have completely given up on them at some future point.

      As always, I appreciate your insight.

      You have a great weekend, my friend. We have about a seven hour flight ahead of us. Hopefully we will be on an airplane with wifi!

      Best,

      Big Al

      • On May 19, 2012 at 5:43 am,
        Richard says:

        You too.

    • On May 19, 2012 at 8:07 am,
      Mark Alan says:

      Big Al

      You seem a little too gung hoo regarding the purchasing of mining shares. I share your enthusiasm but I think Lawrence Roulston and Doctor Richard have more of a realistic perspective. Take a look at some of the emerging market ETFs and indexes; there are a LOT of head and shoulder tops forming. Will they play out? I am one to believe that the FED and ECB will pull some major rabbit out of the hat to boost the psychology of the markets. But if they do that, the effects will not last long as it will send a message to the whole world that there really is serious trouble and that governments everywhere have been lying. The US dollar safety trade will go down the swirly and people will then begin to rush into the metals, but this might take several more months. If you are going to jump in, do so a little at a time and chose price targets where you are willing to purchase more if the stock drops. Keep a nice wad of cash folks. Holding cash is a position and it is as safe a trade as you can make right now besides purchasing physical. the close on Friday of the metals looked nice but I still believe we will retest the $1530 – $1540 area again. We have to hold there and have a strong rebound back above $1575 before I would even venture to whisper a bottom. Silver looks like it may retest the $27.00 – $27.50 area once again. It too must hold there and have a strong rebound to $29 before I would consider whispering a bottom. There isn’t going to be much more flushing of metals from weak hands, as I believe they have gotten the poop scared out of them. Hang on people! If you have lasted this long another six months or so, isn’t going to kill ya!

      stay frosty

      • On May 19, 2012 at 2:32 pm,
        Richard says:

        Mark, cash is a good place to be right now along with short ETFs in the US and Chinese markets, oil, materials, and banks. As you know, I’ve been short these for about 2 months and am doing very well. I continue to add on every move down for these assets. We’re entering a cyclical bear market that’s going to maul everyone.

  2. On May 19, 2012 at 5:20 am,
    Bobby says:

    HI Al, After listening to Segment 5, and hearing your statement that The Encompass Fund has performed very, very well I pulled up the chart and wonder how you can make that statement. Have you taken a look at it’s performance lately?
    One would have to have purchased the fund prior to Jan 2010 in order to be in the black.

    • On May 19, 2012 at 5:27 am,
      Big Al says:

      Hi Bobby,

      We purchased the Encompass Fund at a price of about $8.50 and yesterday it closed at $8.59. (Yep, it has fallen of late!)

      YTD return is a bit over 17.8% and the three year return is a bit over 30%.

      Encompass is certainly in the category of being speculative, but we are very comfortable with it.

      Best,

      Big Al

      • On May 19, 2012 at 12:41 pm,
        Bobby says:

        Al,
        Not to be argumentative but personally I keep a better watch on my investments, rather than relying on the company website. Note that the numbers that your refer to are calculated to 3/31/12. I see the price one year from May 19th around $14.10. I realize that you must be supportive of the people that butter your toast, but a 1% gain in 2 plus years does not rate a very, very good in my books. Am i missing something here? Does the fund pay a whopping dividend? I realize that you want to stay upbeat, and nobody is a bigger pm bull than me but I am having a difficult time being frosty here.
        Bobby

        • On May 19, 2012 at 2:21 pm,
          Al Korelin says:

          HI Bobby,

          Did not realize the quote was from 3/31/12. Thanks for the tip.

          What is the current price?

          These folks are far from buttering my toast. They are not paying sponsors, simply friends of mine. If Encompasss was a sponsor, I would disclose that.

          Best,

          Big Al

          • On May 19, 2012 at 2:50 pm,
            Bobby says:

            Al,
            The current price is correct at $8.59. Sorry, I just assumed that those with banner ads were sponsors. I also do not have a problem with the fund, and perhaps this MIGHT be a good time to buy it. I struggle with the fact that many of us have been clobbered by the current market. Others are jumping out of windows, so to speak by selling now. I have been in the silver market for over 50 years, yes, since i was a 12 year old coin collector. I reasearch every purchase from a mercury dime to a 10 ounce gold bar, to any fund or equity that I purchase. When I trust a site, as I do this one, I expect to believe what I read. Of course, I do my own DD and it bothers me to find an error. I however am far from perfect so I am sorry for the rage.
            Bobby

        • On May 19, 2012 at 2:30 pm,
          Richard says:

          Bobby, I know Al won’t like to hear this but I believe the compass fund is going to hit $4.00 based on my charts.

          • On May 19, 2012 at 2:33 pm,
            Al Korelin says:

            Let’s get you back on the show this week, Doc!

            Big Al

          • On May 19, 2012 at 2:51 pm,
            Bobby says:

            cancel my recommendation

          • On May 19, 2012 at 2:59 pm,
            Big Al says:

            Hi Bobby,

            You had me really scared for a minute.

            Now, Doc has me a bit nervous!

            Big Al

          • On May 19, 2012 at 3:25 pm,
            Mark Alan says:

            You are probably right on that one Doc. My analysis give me $5.50 maybe $5, but I am not as accurate as you have been.

          • On May 20, 2012 at 8:32 am,
            Richard says:

            Al, give me a call—-some interesting things are happening. I’m really getting concerned about the global markets considering what I’m seeing based on technicals. I believe the Chinese stock markets look like they’re going to drop into the abyss.

  3. On May 19, 2012 at 5:39 am,
    meritmat says:

    great interview about AUN Big Al, i’m glad its my biggest holding. Any chance we could get Lenic to take over PEM?

    • On May 19, 2012 at 7:17 am,
      Big Al says:

      Hi Meritmat,

      Who knows? Maybe, but don’t give up on Del!

      Big Al

    • On May 19, 2012 at 6:19 pm,
      Al Korelin says:

      HI Mark A,

      Your and Doc’s techs certainly don’t bode well for the resource sector for the near future.

      Best,

      Big Al

  4. On May 19, 2012 at 7:32 am,
    Jerry Lawrence says:

    Great show, great guests as usual. Somewhat frustrating trying to hear the guests over the background noise of the exhibition in spite of wearing my best ear phones.
    Should have a portable broadcast booth for use at these noisy shows.

    • On May 19, 2012 at 7:46 am,
      Big Al says:

      Morning Jerry L,

      You bring up a very interesting point. Thank you.

      Some folks have said they kind of like the noise from the shows. I have a tendency to agree with you.

      Off to the airport,

      Big Al

  5. On May 19, 2012 at 8:00 am,
    Clay says:

    Good Show Al, Well done.

    Manipulation: I ask myself and several close friends why the Fed and Banks are manipulating gold, silver, the market and just about everything financial these days? We all talked about this in conference and came up with a central main reason, the Fed, banks and governments are all in very deep trouble. Debt and explosion of socialism has created this instability and they don’t know how to get out of it. This is the reason these Central controllers don’t want anyone to seeking gold, silver or any other financial investment which compounds the problems the controllers have, they need everyone under the same socialized tent to help them work out their troubles.

    These Banks and their political governments are in such deep trouble and they know it, that they believe the only way out for them is to make sure everyone is helping them. Those who refuse to pull the same direction are punished.

    It used to be “Never fight the Fed”, but that was before the Fed and US began loosing their wars.

    • On May 19, 2012 at 2:24 pm,
      Al Korelin says:

      Hi Clay,

      You make a veryinteresting point and I appreciate it.

      The current situation is so very complicated that it is somewhat difficult to really know for sure just what to do.

      Big Al

      • On May 19, 2012 at 7:42 pm,
        Clay says:

        Al: Yes the current situation is complicated, but Al how many times in your life have you thought the same thing, that at a certain moment in your life when things were piling up on you in what at the time appeared to be very complicated turned out to be really very simple. Hind sight is 20/20 people say, but is it really or is that just the way people perceive it?

        Just speaking of myself, I can’t count all the times that something ongoing at the time appeared extremely complicated and difficult to understand, only to finally resolve itself out. And then after I realized how stupid I was to think of it as complicated when really it was very simple. In this respect I have become an expert on Stupid. This current Fiat money debt which is covering the Western Powers is one of these “Stupid” moments. Trust your gut feeling, which really comes as a blessing from on high, which is the best source of information ever.

    • On May 19, 2012 at 2:46 pm,
      Karen says:

      Hi Clay,
      In my opinion the global powers know exactly what they are doing: Destroy all the currencies and replace them with SDRs which is already waiting in the wings.

      • On May 19, 2012 at 2:52 pm,
        Bobby says:

        *putting on my tin-foil hat”

        • On May 19, 2012 at 4:35 pm,
          Karen says:

          Bobby,
          What do you think the G20 has been discussing since 2009??? Before you put your hat on you might want to get informed.

          • On May 19, 2012 at 7:32 pm,
            Bobby says:

            Karen, sorry i was not invited to the G20 this year.

      • On May 19, 2012 at 5:03 pm,
        Clay says:

        Karen: It sure seems that way, but we have to wonder if it is the plan or if the SDR is a backup plan. I think they would prefer to keep existing fiat currencies, but the bankers have SDR as backup just in case. Nevertheless, Knowing what to do and actually getting it done are two entirely different things. Murphy’s Law, where if something can go wrong it will go wrong and at the most inappropriate time, is probably working all of the time with the current situation even if planned. So judging from their successes, I would say their chances of succeeding are very slim.

        • On May 19, 2012 at 6:22 pm,
          Al Korelin says:

          Tin foil hats are not such a bad idea in these times, my friends!

          Big, 30K feet in the air, Al

        • On May 20, 2012 at 7:36 am,
          Karen says:

          Good morning Clay,
          you make some excellent points. However, the present path of fiat currencies is unsustainable. The SDR solution is being promoted by the G20 and the IMF. When everyone is lining up to buy gold, I will be selling mine for SDRs.

          • On May 20, 2012 at 9:11 am,
            Clay says:

            Karen: I don’t think individuals can buy SDR’s, only IMF members are allowed. In any case the SDR is nothing more than an aggregate basket of the member currencies kind of like an indexed mutual fund, all backed by fiat created debt. In this current world of money wars, it would be better to buy the upcoming members currency than an SDR as all the weaker member currencies would drag the SDR down. In reality the SDR is a currency created for political expediency and not for its expressed purpose of settlement in trade.

            But I do believe there is a certain amount of gold allocated to the IMF by its members in backing the SDR, but again the question becomes just how much of this gold backing the SDR is encumbered. The current World Currency War is evolving into Gold Wars, because nations like the US use systems like SWIFT to force other nations into compliance with Federal desires and not necessarily to the betterment of Geo-political conflicts.

            The problem of what to trade gold for when a person deems it time is and always has been a problem, most specifically how to get fair value. There are no easy solutions to this problem because it depends mostly on where this gold is held and for whom and what it is being traded.

            http://www.imf.org/external/np/exr/facts/sdr.htm

      • On May 19, 2012 at 6:20 pm,
        Al Korelin says:

        Hi Karen,

        Ever read “All the President’s Men”?

        Pretty scary when you enlarge the subject matter (which I do) to include government in general!

        Big All

        • On May 20, 2012 at 7:43 am,
          Karen says:

          Good morning Al,
          All the presidents Men is a good example of what could be uncovered if we had journalist today instead of a bunch of Obama cheerleaders. Fast and furious would be the very tip of the iceberg.
          By the way, the tin foil hat are a great idea, I think I will start that business.

          • On May 20, 2012 at 10:54 am,
            Mark Alan says:

            Karen

            That’s what i like to see..American entrepreneurial spirit!

          • On May 20, 2012 at 12:53 pm,
            Bobby says:

            karen, mine was made in China, i saved a bundle on it too.

          • On May 20, 2012 at 2:29 pm,
            James B - Montreal says:

            Karen and Big Al – I do not know about you but I am very disappointed in Robert Redford, the big left lib.

            He has done little of any real value since 1980.

            That film, with fellow lefty Dustin was perhaps one of the few films made for adults in the past 36 years that was about the dark side of big governments.

            He has never commented on the poor quality ( if there is any) of journalism since the making of that film, save when a Republican is in office.

            In fact, I do not think that Watergate was such a big deal. The problem was that President Nixon handled it very badly as did Clinton in his Monica moment.

            But definitely Redford is part of the Obama cheerleader society.

            I recall a true story carried in the newspaper in the 1990s when he lost his wallet and Redford refused to give the man who found it his signature.

            I would have tossed it in the garbage if he refused to meet with me.

            He cannot be a nice man nor too bright. Just lucky he is good looks because over all, he has made strange forgettable movies. And regarding this sundance film festival stuff, don’t get me started.

          • On May 21, 2012 at 4:39 pm,
            Big Al says:

            Afternoon James B,

            Watergate, Clintongate, and all the other “gates” are just examples to me that people are people and many succumb to the “prettiest baby in the nursery” syndrome.

            Best to you,

            Big Al

        • On May 21, 2012 at 6:26 pm,
          John W. Robertson says:

          I actually started a “presidents” movie collection (JFK, Nixon, 13 Days, All the Prez’s Men, etc) a few years back. Could probably call it the ‘dead presidents’ collection now. I actually was thinking of that latter movie while watching the Glenn Beck video you posted today, as noted by Mark, and have actually been thinking about the lack of journalistic pursuit for some time now. There is no will to investigate and report like that anymore. Journalists, by and large, just don’t seem to want to find the answers. Al, your responses in New York last week about Ron Paul ‘being a nut’, or gold being still shunned on Wall Street, are good examples. Finding Obama Kenyan-born biographies still located within internet caches (i.e. via the wayback machine) are most certainly taboo for main stream.

  6. On May 19, 2012 at 8:31 am,
    Dennis M. O'Neil says:

    I found the Al and John Kaiser conversation interesting.
    It demonstrates what I visualize as the ‘chess game’.
    The average novice is thinking 1…. two maybe three moves ahead.
    Amatuer thay may be but these reflexive moves are going to move the short term markets. It explains why ‘everyone’ piled into treasuries in 2008.
    It was illustrative that your trading position should be focused on anticipating the next chess move not eight moves down the road.
    It also illustrates that your core position should be concentrated on a more studied
    6 to eight moves ahead. Your core positions may suffer un-nerving fluctuations…..volatility to pull your hair out…..but when you take a step back from all the screens you realize that you can sleep and trade better with the core foundation in place. Your chess game may not develop as you plan….history may not repeat itself…..it may not even rhyme….but if it does the resource sector will be smartly rewarded.
    And if history takes a new course in an all new different direction…..if it successfully finds Tony Blair’s and Bill Clinton’s ‘Third Way’….well in that case all bets are off and private property won’t much matter….because it will not exist……… except to those who lost something much more important.

    • On May 19, 2012 at 8:56 am,
      Mark Alan says:

      That’s a great analogy Mr. O’Neil. I wish I had your perspective use of words, instead I sound like a donut eating retard.

      have a great weekend my friend

      • On May 19, 2012 at 9:26 am,
        Marc says:

        Ditto that…Mark A., Don’t be hard on yourself…you are a pretty damn astute donut in your own right…he, he.

        • On May 19, 2012 at 5:29 pm,
          Jerry O^OTB says:

          Marc….is a donut…like a circle of fools….

          • On May 19, 2012 at 5:30 pm,
            Jerry O^OTB says:

            if so, we could round each other up….

          • On May 19, 2012 at 5:33 pm,
            Jerry O^OTB says:

            I made this comment before seeing all the other do nuts…make there commentary…the only real donutter must be missing in action….where are you Irish…

      • On May 19, 2012 at 12:44 pm,
        Peter says:

        MA
        Just because one eats donuts doesn’t mean one is a retard, though I’m trying to cut down.

        With regards to Dennis’ comments: They sound great and maybe some people can actually do what he proposes. I can’t and I never will. Position my core position 6 to 8 moves ahead? I don’t really know what that means, practically.

        With regards to gold investments, what would be the 6 to 8 moves to ponder? Whose moves are we talking about? My moves? The moves of the economy? The moves of the government(s)? The moves in geopolitics? An interplay of all of these that combine into primary moves and secondary submoves?

        I can’t invest like that and the fact that the fund’s are not outperforming me suggest they don’t either. JPM was probably too smart for their own good.

        So my approach is one of necessary simplicity. We are moving into financial and economic darkness, with increasing likelihood of wars. This will throw us back onto age-old fallback positions. Precious metals, (seeds, if you are VERY bearish), and land (during the great Weimar inflation people in the country who could grow food were least affected and better off than city people), and maybe a chest full of bullets (if you live in the USA).

        I also would not count at all on the government allowing the people to keep their gold profits, if they materialize. The mantra will be “Make the speculators pay their fair share!” I can just smell the tax on “obscene gold speculation profits.”

        Anywho, that’s my two bits on this.

        • On May 19, 2012 at 1:49 pm,
          Mark Alan says:

          Afternoon Peter

          I think you read more into what I was simply saying. I did’t say people who eat donuts are retards. I simply said I was a “donut eating retard”. There’s a difference there, my friend.

          I think that everyone needs to invest best how they feel and see it. I’m wasn’t agreeing with Mr.O’Neil’s investment plan; all I said was he had a nice analogy.

          Are we feeling a bit negative today, Peter?

          • On May 19, 2012 at 2:35 pm,
            Al Korelin says:

            Hi Mark A,

            From 30K feet, I think many of us are feeling a bit negative. Oh well, back to the Guinness!

            Big Al

          • On May 19, 2012 at 2:39 pm,
            Peter says:

            Am I feeling a bit negative today? Not more than usual. I think you read more into what I was simply saying. But maybe I’m more negative than I realize. That would explain a lot, on the one hand. On the other hand, maybe I’m simply saying what others don’t even dare to think.

            I gatta go. My wive just observed that I’m spending a lot of time in this chatroom lately (i.e. what about the yard work? The dead mice in the glue trap, the defective garage door).

            Staying frosted,
            Peter
            “I simply said I was a ‘donut eating retard’.” I don’t think that’s what you said…no you didn’t say that.

          • On May 19, 2012 at 2:46 pm,
            Peter says:

            Al,

            You are so lucky, in a thin atmosphere only half the booze gives you the whole effect.

            Did you take the little blond chick along?

            Peter

          • On May 19, 2012 at 3:33 pm,
            Mark Alan says:

            Hope you feel better sometime today Peter…maybe after the yard work and getting the rodents from the glue traps.

          • On May 19, 2012 at 6:16 pm,
            Dennis M. O'Neil says:

            Did you ever notice the bubbles in Guiness go down?

      • On May 19, 2012 at 12:54 pm,
        John W. Robertson says:

        Donuts. The brain food of champions. How do I know? Because all they’re eating at emergency G8 and G20 meetings are fois gras and caviar, and look how stupid they are.

        • On May 19, 2012 at 1:00 pm,
          Peter says:

          JWR,

          That is a truly brilliant display of deductive reasoning!!! Makes me feel better about outing myself as a donut eater.

        • On May 19, 2012 at 2:29 pm,
          Marc says:

          Very good and very funny…John w…LOL!

        • On May 19, 2012 at 2:35 pm,
          Al Korelin says:

          That’s great John W! Especially, at 30K feet!

          Big Al

        • On May 19, 2012 at 4:39 pm,
          castanheiro says:

          Hi John W R,
          I can always count on you to bring out an aspect or angle that I’ve never thought of, and make me smile. I’m feeling smarter already!

      • On May 19, 2012 at 2:29 pm,
        Al Korelin says:

        You talking crispy cream?

        Had one once a long time ago and immediately became BIG Al!

        Big, but getting smaller (off 20 lbs), Al

        • On May 19, 2012 at 4:42 pm,
          castanheiro says:

          Me too Big Al,
          I’ve started the losing process. Part of my overall strategy of getting prepared for eventualities. Want to get lean and healthy and get off all prescrips. Down 11 lbs in 14 days. Whew-hew! Good show Big Al. Thanks.

          • On May 19, 2012 at 5:05 pm,
            Mark Alan says:

            Congrats Castanheiro! Are you doing the juice diet or something else?

          • On May 19, 2012 at 5:39 pm,
            Jerry O^OTB says:

            c..hero….we will start calling you slim…..and Al…ultra slim…and irish hopefully slim,

          • On May 19, 2012 at 7:37 pm,
            Bobby says:

            not me, i am loading up for when the food runs our, or we cant afford any. I am blessed to live where the fish are a plenty, and the seaweek delicous.

      • On May 19, 2012 at 2:30 pm,
        Al Korelin says:

        Mark A,

        I had a crispy cream a long time ago and almost immediately became BIG Al!

        Big, but so far off 20 lbs, Al

        • On May 19, 2012 at 3:35 pm,
          Mark Alan says:

          Big Al
          what is so darn special about Krispy Kreams? I never have figured out how an overpriced donut can taste any better than a cheap donut made at DUNCAN DONUTS. but hey! Enjoy those 30K feet and the trip. We appreciate your show and the service you are providing.

          • On May 19, 2012 at 6:31 pm,
            Al Korelin says:

            Mark A,

            Trust me, you don’t appreciate me nearly as much as I appreciate all of you!

            Regarding the comment about donuts and rounding us up, does that make all of us a “Chaa -chaa- chaa – chaa, Chain of Fools!”

            Pass the Guinness!

            Big Al

          • On May 19, 2012 at 7:38 pm,
            Bobby says:

            Mark,
            Duncan gets .97 for a lousy donut.

          • On May 20, 2012 at 12:27 pm,
            Mark Alan says:

            you guys are a hoot!

    • On May 19, 2012 at 12:52 pm,
      John W. Robertson says:

      To continue the metaphor one additional step…playing speed chess is reckless. Don’t be in a hurry to make a move. You often regret it.

      Third Rail, now that’s a phrase I’ve not heard in a LONG time. A long time. — Obi Wan

      • On May 19, 2012 at 2:21 pm,
        Dennis M. O'Neil says:

        I like donuts…..especially the chocolate glazed custard filled belt bulgers.
        As far as Peter goes my chess analogy was basically to have your core situated in what it all comes back to. You summed it up well…. in the end we want things not coupons redeemable for things….You want what you need….not a claim for what you need…. I also agree that in the end game governments will attempt to levy taxes on these very things…..how dare those speculators profit on our misery.
        At this point the miseries will be so significant the government will have lost it’s ability to enforce their desire.

        As you gave as an example in the end stage….government fire up inflation to combat what they cannot tax deflation…when inflation gets out of hand…..they stoke the fire more to keep the troops and police paid….. and purchasing power happy…..at some point the ‘first responders’ will understand putting in their twenty years does not mean anything any more…..they will stay home to protect their own.

        Maybe this is why we are buying a bunch of domestic drones.

        Your core position call it 1, 2… 3 ……50 moves ahead should be situated in what you need. Free up your trading position to trade freely..without reservation.
        Since gold/silver is/are and will be money you might want to have a little of that.

        • On May 19, 2012 at 5:54 pm,
          Peter says:

          Dennis,

          We were probably never in disagreement, just looking at the same dung hill from different directions.

          What we are all really trying to do is create some sort of safety net for ourselves. We all sense the gathering storm and look for life boats to get us through. The prepared will fare better than the rest. How to be prepared, that is the question. It is so difficult becuse we really don’t know what’s going to happen. Everything is in flux and moving towards some sort of “resolution.” There are so many options and if you look at the most destrucive ones, you can reallly lose a lot of sleep.

          Usually the worst case scenarios we fear don’t come to pass. I emphasize USUALLY. If the worst case scenario doesn’t paly out (financial and economic collapse, with ensuing wars), then the general plans we are discussing here SHOULD work.

          If things really go bad, no amount of gold and portfolio diversification will help us. Then all we can hope is that agriculture will no be allowed to collapse. I don’t expect the worst case scenario, but if it did, the best preparation would seem to be land in a secluded part of the county, with seeds and bullets. The bullets are not intended for shooting other people, but for hunting – illegally, if need be.

          What is more likely, in my humble estimation, is for the coming crisis to be used by THEM to arrogte more powers to themselves and serious erosion of civil liberties – for our own good, of course. I expect the slide into fascism to continue, and more and more drones to fill the surveillance skies, etc.

          Then it also matters what country you live in. Even if the US gov’ were to impose confiscatory taxes on gold profits, it doesn’t mean that Canada would. Taxes have always been higher in Canada and we used to look with a certain envy to our southern neighbours. But maybe this will change with the impending bankruptcy of the US.

          The US, currently seems to be developing into a more dangerous place than Canada. A lot of things in Canada are “Mickey Mouse,” as my brother-in-law likes to put it, whereas Americans have a much more martial and polarized mentality. With any luck Canada will experience Mickey Mouse fascism.

          Gotta brush my daughter’s teeth now.

          Be well,
          Peter

          • On May 19, 2012 at 6:35 pm,
            Al Korelin says:

            Interesting comments about “civil liberties” Peter.

            Tell me that didn’t start to happen a while back!

            Big Al

      • On May 19, 2012 at 3:36 pm,
        Mark Alan says:

        What about “mondo bitchin”?

    • On May 19, 2012 at 2:26 pm,
      Al Korelin says:

      HI Dennis,

      I completely agree and that is why we are so diversified.

      I figure if the resource market goes to you know where in a hand basket, we will certainly have less capital, but we will still be very okay.

      Best,

      Big Al

      • On May 20, 2012 at 7:20 am,
        Dennis M. O'Neil says:

        I went to Tim Horton’s drive thru this morning and scored a box of donut delicacies for the entire family.
        Everyone seemed happy except my wife made me promise her she said “Never do that again…….promise me!”

        • On May 20, 2012 at 8:39 am,
          Dennis M. O'Neil says:

          Today’s lunch menu.
          Left over donuts from breakfast and a pint of Guinness.
          ABTW for you left coasters it is Dunkin’ Donuts.
          Duncan makes a good yo-yo……. not donuts.

          • On May 20, 2012 at 12:28 pm,
            Mark Alan says:

            you blaspheme Mr. O’Neil!

          • On May 20, 2012 at 12:44 pm,
            Dennis M. O'Neil says:

            Mark?
            What ……..you do not like Canadian donuts?

  7. On May 19, 2012 at 8:49 am,
    Marc says:

    Great show Big Al….again :).
    After listening to all these fine folks here on our blog and doing my own due diligence and research, it is my firm belief, that it really comes down to what Fulp has said time and time again….you can’t look at all the fancy marketing brochures and BS like that. It comes down to PEOPLE, PROJECT and PLACE. I really think that is it. My LONG TERM choices….choice of companies that I just let sit and “cook” are all the companies no matter what, have the right guys stirring the pot. Rob McEwen, Amir (Brazil Res. Uranium Energy), the guy at Endeavour, and a whole host of others…..naive, a little, maybe – but that is the way I play it. Additionally, Big Al, not to “glad hand” you or any body here…but I HAVE A GREAT RESPECT for you folks and I will spend my investment dollars on some your suggestions…I can read people and I have read enough by all your guys input to know that you all have A LOT of savvy and I will wait and be patient. I have invested in six or more companies on this site. Aurcana for one – big time! Rye Patch, Timmins Gold, etc. I am NOT lazy, I just have a comfortability factor with all of you. I will take responsibility and move on. Thanks EVERYONE for all your HARD WORK and input on this site. (Oh, and by the way ADD “skin in the game” for another factor of investment criteria) Finally, if you are invested with money you DON”T need today, tomorrow, six months or a year from now – I strongly believe you will be VERY, VERY a happy in the junior mining sector!
    All the best,
    Marc
    The macro environment is going to make this sector EXPLODE someday – hang in there!

    • On May 19, 2012 at 8:57 am,
      Marc says:

      BTW,
      Speaking about energy – does anybody here have an opinion on this “partnership” offering from Fossil Oil – that runs adds on the internet in resource web site. You guys know, the “black square” advertising piece strategically placed in and around the web. Any thoughts? I did resource, but have not drawn any conclusions.
      Marc

      • On May 19, 2012 at 8:58 am,
        Marc says:

        oops “research” not resource…geez

        • On May 19, 2012 at 2:41 pm,
          Al Korelin says:

          Don’t know a thing about this issue, Marc.

          All I know for sure is that I scored two Dawg season tickets this week on the club level!

          Big Al

          • On May 19, 2012 at 3:06 pm,
            Marc says:

            Awesome

    • On May 19, 2012 at 8:58 am,
      Mark Alan says:

      Marc

      How come you aren’t investing in Jerry O^OTB and Irish’s business adventure? You’d make a killing! What’s the matter with you..c’mon man…get with the program

      • On May 19, 2012 at 9:17 am,
        Marc says:

        Mark A.,
        Good Morning! Yeah, I had a “private investigator” on those two. One is a guinness-drinking, slick salesman and the other is a “dreamer” who is just a looking for a “sucker” like me to throw money here and there. Wait a minute! Why not? My money isn’t worth anything! Ok, I will go for it! They can’t have my G and S….but all the monopoly money they want! HA!
        Marc
        BTW, Mark A., thanks for all your valuable input on the blog…I just bet “the farm” on your ideas and advice….feeling pressure – now?…or probably thinking “What an idiot”!
        All the best – my friend…stayin frosty.

        • On May 19, 2012 at 10:49 am,
          Mark Alan says:

          In all honesty Marc, if you have the patience to wait this out, then it doesn’t matter. There are a lot of bargains out there and some that are just plain stupid to pass up.

          Oh hey…when you said “can’t have my G and S” were you referring to your Guinness and Sam Adams?

          • On May 19, 2012 at 11:52 am,
            Marc says:

            Yep and no…..although if all heck broke those that would probably come in handy.

          • On May 19, 2012 at 2:45 pm,
            Al Korelin says:

            Tell you a funny story Mark A,

            We made more money from stock we got in 2008 than ever before in a one year period. We sold those shares in 2009 and 2010.

            I think that the same thingwill happen again.

            NOT FRIGGING INVESTMENT ADVICE!

            Big Al

          • On May 19, 2012 at 2:50 pm,
            Al Korelin says:

            HI Austin,

            I believe that I also own it through my holdings in the Encompass Fund.

            Big Al

        • On May 19, 2012 at 2:43 pm,
          Al Korelin says:

          Not necessarily an idiot, Marc, but certainly someone who eats donuts!

          Big Al

      • On May 19, 2012 at 2:42 pm,
        Al Korelin says:

        He tried Mark A, but we would not let him in the deal!

        Big Al

        • On May 19, 2012 at 3:07 pm,
          Marc says:

          Big Al,
          Don’t tell him the truth…..embarrassing!

  8. On May 19, 2012 at 10:04 am,
    Dennis M. O'Neil says:

    I posted the blow on TR’s 5/17 Market Trends. I thought it deserved a Week End Show post look as well. As the article indicates the Fed candidates have been approved but not yet sworn in. It will be interesting when they take their seat.
    As we unfortunately now know oaths do not mean much anymore.
    Original post:
    Here is a significant development for MARKET TRENDS found on A-2 WSJ:
    http://online.wsj.com/article/SB10001424052702303360504577409953189797484.html?mod=WSJ_hp_LEFTWhatsNewsCollection

    Sen. Vitter held up the nominations because he felt they were both loose as a horny hooker short on cash. Apparently Chairman Bernanke just re-fueled his helicopter.
    What could be better for the Machiavellian Obama…… a fresh dose of liquidity to juice up the economy just in time for silly season.

    Reply to this comment

    • On May 19, 2012 at 2:47 pm,
      Al Korelin says:

      Here’s a thought Dennis,

      Who do you think will win the election if the unemployment rate is down to about 7.5%

      I’ll bet we both know the answer to that!

      Big Al

      • On May 19, 2012 at 3:09 pm,
        Dennis M. O'Neil says:

        The only thing I know for certin about this Presidential election is that Obama will win Chicago.

        • On May 19, 2012 at 6:37 pm,
          Al Korelin says:

          HI Dennis,

          You mean Illinois!

          Big Al

          • On May 20, 2012 at 7:36 am,
            Dennis M. O'Neil says:

            Al winning Chicago means winning Illinois.
            The drill usually goes like this.
            The polls close the Statewide precincts report.
            The Chicago precinct results are poorly excused delayed…due to long lines… not enough ballots….simply unexplained…..some paid for Judge order or what have you…..then the powers that be determine how many votes they need to comfortably cancel out all the conservative rural communities of Mid to Sothern Illinois….they then run a shish kabob skewer through as many votes they need…..then Cook County reports 2 to 3 hours late with and with 100% of the precints and Cook County grevyards reporting the Democrats declare victory. Or something like that.

  9. On May 19, 2012 at 10:41 am,
    Dennis M. O'Neil says:

    If you are wondering what I did with my Kentucky Derby winnings.
    I bought 100 Mexican Libertad silver ounces.

    And for the equestrian fans with the restn I had to have I’ll Have Another at the Preakness. Although I liked I’ll Have Another much more from the Derby19th post with 15 to 1 odds than from the Preakness 9th post at 2.5 to 1. I had to stay with him….. with track money. At current odds I also bet across the board the #6 beautiful gray Creative Cause (6 to 1). I bet the 6/9 exacta box. And finally the 6/9 triple wheeling it with the field. If 6-9 come in 1 and 2 i will be very happy. If 6 wins it would be even better but I have to say like I did last night at last call. “I’ll Have Another!”

    BTW Creative Cause likes to run with his tongue hanging out. If you see the gray’s tongue in the race replay’s this would be a good indication.

    • On May 19, 2012 at 3:34 pm,
      Dennis M. O'Neil says:

      Cha Ching!!!!!!!!!!!!!!!
      I’ll have another!!!!!!!!!!!! And another.
      I missed the exacta, but a winner across the board, a show horse paying for the missed exacta, and a triple win is a good thing.
      Al, I will be investing in mining stocks on Monaday at the opening bell. I Promise!!!!

      • On May 19, 2012 at 6:38 pm,
        Al Korelin says:

        Monaday?

        Are you also 30K feet in the air with some Guinness!

        Big Al

        • On May 20, 2012 at 12:20 am,
          Dennis M. O'Neil says:

          I could use an editor.
          Plus upon audit… I missed the triple….my wager required the 6 horse to place not show.
          Still a good day!!!!

  10. On May 19, 2012 at 11:56 am,
    Ken says:

    You have to see this if you haven’t already.

    http://www.youtube.com/watch_popup?v=5u03KAcEbEo

    • On May 19, 2012 at 2:37 pm,
      Marc says:

      What can say……..absolutely hilarious!

    • On May 19, 2012 at 4:52 pm,
      castanheiro says:

      Thanks Ken,
      Tim Hawkins is really funny. He is one of my son’s favorite comedians. Best line, “I don’t care if you don’t like me, I’m going to sing it anyway.”

    • On May 19, 2012 at 7:06 pm,
      Joseph says:

      Thank you, Ken.

      I know when I see your little smiling monkey face I will always have something good to read or watch! :)

    • On May 20, 2012 at 3:11 pm,
      going down fast says:

      Ken -

      That was great. Thanks for sharing!

  11. On May 19, 2012 at 12:24 pm,
    Dennis M. O'Neil says:

    The ultimate funny test is laughing out loud when you are all alone.
    Ken…that link past….multiple times.
    The truth can be laughed at…. and actually skits like that may be more educational to more people than a text book.
    Great post!!!!!!!!!!!!!!!!
    I watched that while seated on my front porch….my neighbor walking his dog now thinks I have lost it! Thanks soo much!

    • On May 19, 2012 at 1:22 pm,
      Ken says:

      I heard that song before. I think a link to it was posted on Lew Rockwell’s blog 2 or 3 months ago. But it wasn’t that guy performing on stage live like that. I think he was in a studio. Anyway, I had forgotten all about it until I saw it today.

  12. On May 19, 2012 at 2:18 pm,
    Austin says:

    Extrorre has lost 75% of its value since I bought last September. I don’t know how much of that is the big drop in mining shares in general, how much the Argentinian government uncertainties, and how much Extrorre potential (or lack thereof). I know the price of the stock must increase 300% for me to break even, It’s very painful situation.

    • On May 19, 2012 at 2:51 pm,
      Al Korelin says:

      Afternoon Austin,

      I believe that we also own it through our holdings in The Encompass Fund.

      Big Al

    • On May 19, 2012 at 3:44 pm,
      Mark Alan says:

      Afternoon Austin.

      Well, a loss is not a loss UNTIL you officially sell it. If you invested in the company you probably invested for all the RIGHT reasons, so nothing bad on your part. But…you are correct in that there was A LOT of hype over EXTORRE and I know several analyst who said the same thing about ATAC and Kaminak. But this is common in the mining industry, where emotions, cycles, and fundamentals can move in synchronicity, overlap, or plain come unglued. Right now is one of those times of “unglued”. EXTORRE is a great company, but Argentina seems to be causing a little sting and could get worse; or could not. Think long term and don’t monitor the price every day, or even, every week. But do whatever you feel is best, as you and only you, can make that determination.

      stay frosty

  13. On May 19, 2012 at 3:52 pm,
    Mark Alan says:

    Food for thought and something to ponder very seriously

    http://www.zerohedge.com/news/crumbling-brics-and-why-developed-world-not-taking-either

    • On May 19, 2012 at 5:39 pm,
      Marc says:

      Road begins and ends with gold and silver…period. You can run but you can’t hide…excellent post…Mark A.
      All the best,
      Marc

      • On May 19, 2012 at 5:45 pm,
        Marc says:

        Hey all,
        Check out KWN with Gerald Celente….no matter what you think of him – the guy is BRUTALLY honest….and in my humble opinion…spot on accurate. For diversification its…gold…..gold…silver…gold…silver…..miners…real estate……you get the picture. I enjoy the h___ out of this guy…………I wonder if he can get a job at CNBC…NOT!

        • On May 19, 2012 at 6:32 pm,
          Jerry O^OTB says:

          I like Gerald….no bs type guy…..

          • On May 19, 2012 at 6:57 pm,
            Peter says:

            Yes, I like him too. But when I listen to him I always have the distinct impression that he is just on the verge of bursting into expletives.

          • On May 20, 2012 at 5:01 am,
            Jerry O^OTB says:

            Yes….he likes to choose his words wisely,,,,kind of like IRISH…

  14. On May 20, 2012 at 5:09 am,
    Lurch says:

    For a peek at what is going to happen in Greece look at what happened in Argentina when their currency collapsed. bank accounts we’re frozen and then the exchange rate vs the dollar plummeted. The govt did allow bank withdrawals if it was to purchase land or property in Argentina. Five years after their collapse the people that left their money in the bank had massive losses vs the dollar. Those that withdrew their money and purchases land or property benefitted from the massive inflation. The value of physical assets basically remained the same when valued in dollars. If I were in Greece right now I would be buying gold, silver or land. Their value can never go to zero. A paper currency can.

    • On May 20, 2012 at 7:12 pm,
      karalamboscarambakoulos says:

      While learning lessons from Argentina’s experience is a good idea, I wonder if you are familiar with Greek specifics on taxation and pm purchases. Are you really advising to buy property in Greece presently? Look what is being taxed in S. Europe. Once all the commies will have proven that they can’t save the country either, wrecking what was left after the bankers’ raids taking place now, consider investing again. Just my two drachmas (which smart people kept because they are 99% copper.)

      • On May 21, 2012 at 4:36 pm,
        Big Al says:

        Afternoon karalamboscarambakoulos, (whew, that’s a handle!)

        I am certainly no advising people to buy property in Greece or anywhere else they are uncomfortable.

        As a matter of fact, I am not advising anything. Just talking about what I am doing.

        Best,

        Big Al

  15. On May 20, 2012 at 5:12 am,
    Lurch says:

    BTW Al… The tri-fecta traveling buzz is high altitude, dehydration and an empty stomach. Pour your guiness on that and hang on… Ha ha

  16. On May 20, 2012 at 5:24 am,
    Lurch says:

    It must be late…Here’s a limerick for ya:

    The Bankers, there hearts are stone cold
    They bet all on things that will mold
    Oh, the dollar it’s grand
    And the euro not bland
    But for me, i think I’ll just take gold

    Ha ha ….”I crack myself up, I really do”…

    • On May 20, 2012 at 9:50 am,
      Marc says:

      Lurch…good job….where is the rest of the “Adams Family”?
      All the best,
      Marc

  17. On May 20, 2012 at 12:52 pm,
    Bruce in Ottawa Ontario says:

    Hi Al,

    Please check your email…I sent you one a few hours ago with something special in it…can you hit reply for me and let me know that you got it?

    Thanks,

    Bruce

    • On May 21, 2012 at 4:40 pm,
      Big Al says:

      HI Bruce,

      I will be back to you on this one shortly.

      By the way, thank you!

      Big Al

  18. On May 20, 2012 at 9:38 pm,
    Ken says:

    Sorry to be off topic but…..

    Dang, I just found out I gotta fly commercial again in about 3 weeks. I used to love to fly but not anymore.

    You get to pay for the privilege of being treated like a criminal and then you get to be crammed into a metal tube like your in a cattle car.

    And lucking me, I’ve got connecting flights so I will have 4 encounters with the TSA.

    Why is it that American’s assess grow every year while the airline seats get narrower??? Or at least it seems that way.

    Anyhoo, ironically tonight I come across this…

    http://reason.com/archives/2012/05/17/the-tsa-it-terrible-at-everything-it-doe

    And be sure to check out the video. It is painfully hilarious.

    • On May 21, 2012 at 4:34 pm,
      Big Al says:

      Hi Ken,

      Every single time I fly I realize just who won. What do you think about when you go through security?

      Big Al

      • On May 21, 2012 at 5:53 pm,
        Ken says:

        I don’t consider it security at all.

        If our rulers were really concerned with security they would taking an entirely different approach.

        There are other much less invasive ways to implmement real security.

        The TSA is ineffective and invasive.

        But what they do is not about security. It’s about conditioning the American people.

        The whole point of it is to instill deference towards the government and to make people think the government is doing something to protect them. They also want us to be in a constant state of fear and they want us to think they will protect us.

  19. On May 20, 2012 at 9:43 pm,
    Ken says:

    Just thinking about the radiation porno scanners and the feel ups…I tell ya, I can’t believe Americans tolerate this.

    And the scary thing is if they will submit to having their kids and wives porno scanned and felt up, what WON’T they tolerate.

    I tell you, if the people who founded this country were alive today they’d over throw this piece of sh*t government in two seconds.

    • On May 21, 2012 at 9:03 am,
      instagram says:

      If you tolerate the sexual assault, you are part of the problem, period, no excuses.

      • On May 21, 2012 at 10:26 am,
        Big Al says:

        How can you possibly say that I tolerate any type of sexual assult?

        Big Al

        • On May 21, 2012 at 10:29 am,
          Big Al says:

          Hi istagram,

          I just realized that you were not referring to me personally.

          Sorry for jumping without thinking!

          Best,

          Big Al

        • On June 14, 2012 at 6:19 am,
          Angela says:

          Thanks for posting the video of Sadie. Elizabeth and I truly aarcepipte your care of Sadie whenever we board her there. The video shows the love you have for your animals. I have sent the link to several other people (relatives and friends) so you should get a number of hits on that page over the next few days. Thanks again. David

      • On May 21, 2012 at 12:41 pm,
        Ken says:

        I hardly ever fly. The last time I flew for personal reasons was in 2005.

        I do have to fly occasionaly for my job. Luckily only twice last year and before that only a few times in the prior several years.

        So far I’ve never had to go through the porno scanner or experience the feel ups.

        I did phone and write my congress @hole who refused to do anything. He refused to co-sponsor Ron Paul’s bill to end this. I got into a heated argument with his aid who is an arrogant little prick. BTW, the guy is a Republican. Proves there is little to no difference when it comes to civil liberties between these 2 corrupt parties.

        If everyone in this country, or even a sizable minority, gave their congress idiots hell about this like I did, it would end tomorrow.

        • On May 21, 2012 at 4:29 pm,
          Big Al says:

          Hi Ken,

          I am getting more and more convinced that the difference between the two major parties and their respective actions differ little.

          Sad but true,

          Big Al

          • On May 21, 2012 at 5:40 pm,
            Ken says:

            So what do you do when both political parties are totally corrupt, differ little on many major issues and violate the dignity of you and your family?

            Not to mention the huge amount of our wealth they steal and the fact that they are bankrupting the country.

            The ballot box is not working. Rember what Jefferson said about watering the tree of liberty?

          • On May 21, 2012 at 6:09 pm,
            Big Al says:

            Hi Ken,

            We got back from Washington D.C. yesterday and I have come to the conclusion that you are pretty much correct.

            That is what happens when people who are in many cases elected officials of either party believe that they are the “prettiest babies in the nursery”!

            Big Al

  20. On May 20, 2012 at 10:14 pm,
    Matt says:

    Yeah,I could see what a man would do if his wife and kids were subject to anything like this even forty years ago,never mind 236 years ago.
    Everybody carried back then.

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