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Friday comments on gold from Big Al and Trader Rog

Big Al
May 25, 2012

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Discussion
44 Comments
    May 25, 2012 25:00 AM

    Hey Big Al,
    With the 2012 OLYMPIC games coming to London this summer, I think that all PM investors should be hunkered down to run the “marathon” or at least the 10,000 meter race this summer by putting on your “patience and perseverance’ track shoes until we can see the finish line of these non-sensical elections coming up…then it is truly off to the “races”! Forget the bronze – we are going for the gold – ok, at least the silver! 🙂
    All the best,
    Marc

      May 25, 2012 25:08 PM

      HI Marc,

      Gold is good and so is silver!

      Big Al

    May 25, 2012 25:52 AM

    Marc, I think that I am in your camp. Pms will not resolve until we get some real direction with the PIIGS situation and the US Elections. Micromanagement of the pog on a day to day basis is a difficult proposition, it only drives one crazy. I am going to pen this quote today:
    “Hold in May and don’t come back till after Election Day” .
    Enjoy the summer and fall seasons with your families, relax do whatever makes you happy, hard days are a coming for those that hold NO real gold/silver.

      May 25, 2012 25:20 PM

      Bobby,
      Great comments, agreed 105% (inflation adjusted) All the best to everyone this memorial day weekend – as George Noory says, after each C2C program…BE SAFE!
      Marc

      May 25, 2012 25:05 PM

      I have to add Bobby,

      Don’t come back (maybe) until after Election Day, but stay very well informed during that period.

      Big Al

    May 25, 2012 25:56 AM

    Oh, the other thing i was thinking, If you do not own physical gold and silver today, you most likely will not buy it until its too late. The sad facts are that following the heard takes you right over the cliff, just look back at history.

      May 25, 2012 25:04 PM

      Yes Bobby,

      Oftentimes it certainly does!

      Big Al

    May 25, 2012 25:26 AM

    I think it’s only fitting to mention how many “Young lives” have been lost in unnecessary wars due to the “speak softly and carry a big stick policy” not to mention the casualties in the host countries. We need to also talk about the hundreds of thousands of permanently maimed and wounded. Since WWII there have been major Wars in Korea, Vietnam, operations in Laos, and Cambodia, Iraq, Afghanistan, The Balkan Wars, Serbia and Croatia, and The Falkland Islands. SE Asia never did fall to the Communists and at the end of WWII there were more countries enslaved than at the beginning. No matter where you look at these conflicts the result is terrible and still a lot of people think they are just causes instead of misguided thinking.

      May 25, 2012 25:17 PM

      Can’t disagree with you Shawn. You’re only noting wars after 1950 or so, too — many more people died prior to that date than after. However, I think you’ve misunderstood the summation “speak softly and carry a big stick”…that was Eisenhower’s anti-interventionary statement. He was saying to project power, but not use it unless absolutely necessary. It’s because we have gotten away from that semi-dove, semi-hawk statement that the US has been involved in so many of the wars you mention. Some in the government at the time lost respect for Ike, thinking him a hard-core hawk. Many view him with a WWII perspective, and then a evolved Presidential perspective, a mistake IMHO. The man who OK’d D-Day wasn’t too different than the man who cautioned about the military-industrial (and congressional) complex.

        May 25, 2012 25:20 PM

        I should probably re-word this:
        “Some in the government at the time lost respect for Ike, thinking him a hard-core hawk”

        Some in the government at the time lost respect for Ike, originally voting him because they originally felt he was a hawk, but feeling his later statements made him too much a dove. After WWII and Korea, I think Eisenhower had every right to feel the way he did.

          May 25, 2012 25:29 PM

          I’m sorry Shawn, I got to thinking about M-I complex and so mentioned Eisenhower. Theodore Roosevelt is the one who popularized “Speak softly and carry a big stick”. He did not coin the phrase, though.

          May 25, 2012 25:32 PM

          Hi John W,

          I have a lot of respect of Ike and not just because he was a player at Augusta National!

          Big Al

      May 25, 2012 25:04 PM

      HI Shawn,

      I have to go the side of misguided thinking.

      How about Pakistan and Afghanistan?

      Big Al

    May 25, 2012 25:58 AM

    Since 1694, think about all those who have died in wars that would not have had it not been for the creation of The Bank of England.

    May 25, 2012 25:04 AM

    TR
    A question for you: When you say, “I’m staying on the sidelines”, what do you mean by that? Are you saying you went to (partial) cash, or simply that you’re neither buying nor selling anything?

    Have a great weekend,
    Peter

      May 25, 2012 25:01 PM

      Hi Peter,

      I am neither buying nor selling anything. Don’t have any more cash than I did a few weeks ago.

      Big Al

    May 25, 2012 25:26 AM

    I’ll second the commentary on Memorial Day- and all the best to everyone.
    I also think the studio dogs should become (if they aren’t already) a regular feature on the program.

      May 25, 2012 25:45 PM

      WE NEED A DOG THAT BITES…., SIC HIM ON OBAMA…

        May 25, 2012 25:41 PM

        My pooch, In the Box, has never bitten anything other than a dog bisket. (Well, maybe the occasional bit of food that falls on the floor after Big Al has had too much wine!

        Big Al

      May 25, 2012 25:10 PM

      Ryan,
      I agree with you about the studio dogs. My dogs heard them, and went wild barking! Maybe the dogs all know something we don’t!?
      Be safe everyone this Memorial Day weekend.
      Jody D

        May 25, 2012 25:25 PM

        Yep Jody D, be safe!

        The pooches are probably easily as smart as we are. They don’t really care about much other than love and nourishment. Can’t say the say for many members of our “great” society.

        Best,

        Big Al

      May 25, 2012 25:59 PM

      Please Ryan, no more comments on the studio dogs. They can read and if they read this they will want a raise!

      Best to you, my friend.

      Big Al

      May 28, 2012 28:50 AM

      I couldn’t diagree more! The noise went right through me. Soubds really amateurish to have a dog like that barking on the audio.

        May 28, 2012 28:51 AM

        even as amateurish as my bad typing!

    May 25, 2012 25:54 AM

    A pleasant Memoriall Day week-end to all Vets and others on the site.

    Vietnam Vet

      May 25, 2012 25:15 PM

      And the same to you DaiUy. Thanks for your service!

        May 25, 2012 25:25 PM

        Thanks Martin. Now that it is politically correct to study the Vietnam war, the best book by far that I have read is ” The Politically Incorrect Guide to the Vietnam War” by Phillip Jennings(2010). A good read and page turner; it cuts through all the misconceptions most people have about that tumultous decade. Available through Amazon; about $14.

          May 25, 2012 25:31 PM

          Many thanks Dai Uy,

          I will certainly pick it up.

          Big Al

          May 25, 2012 25:14 PM

          Good comments Dai, and thanks too for mentioning the book. Time to log into Amazon again.

      May 25, 2012 25:58 PM

      You certainly have my respect, Dai Uy!

      Big Al

    May 25, 2012 25:15 PM

    I just looked at the German evening news; the full feature news of the evening.

    Bizarrely, there is not a single word about the euro crisis. Not a word about euro bonds, Greece, Spain, recession. NOTHING. Everything is just normal and fine. What crisis?!

    See here:
    http://www.tagesschau.de/multimedia/sendung/ts34368.html

      May 25, 2012 25:56 PM

      Crisis in Europe? Is there something going on over there?

      Oh well, I am going back to reality Tv.

      Big Al

    May 25, 2012 25:39 PM

    The momentum indicators for gold reveal in all likelihood gold will “meander” lower and we’ll see that next week. There’s a gap in the Dow/ gold ratio that needs to be filled and it should be filled in the next 2 weeks. That means relatively gold will have to move lower then the Dow. After the gap is filled the dow/gold ratio then should trade sideways to down. That should mean that gold will perform better then the conventional markets (not as bad). They could both move down with the dow outperforming on the downside. The other possibility is that the dow maintains it’s value and gold strongly moves up. The third possibility is that gold holds it’s value and the conventional market drops further. I favor the scenario that gold and the conventional markets move down but the dow would perform much worse. The fact that the dollar has broken higher and will move higher along with the fact that the vix appears to want to move higher favors the last scenario.

      May 25, 2012 25:30 PM

      Afternoon Doc,

      I would bet that gold will dramatically outperform the Dow and the rest of the conventional markets!

      Big Al

    May 25, 2012 25:30 PM

    OOPS…………the wrong “to”

    May 25, 2012 25:01 PM

    Trader Rog does a great job and always covers the price of gold and silver, but does not always cover the price actions and trends in the mining stocks. Would like to see this even if using an index like the XAU for example covered each day. Thanks!

    May 25, 2012 25:34 PM

    I know we have discussed this issue in the past but…I think it’s getting closer by the day.

    http://www.nypost.com/p/news/business/plunder_CrD9s6MElVsEIJj2IVgHuK

    May 25, 2012 25:15 PM

    Mark – What government gives, it can (and will) eventually take away. They did that in Argentina, after the currency collapsed. So we have time 🙂

    reo
    May 29, 2012 29:44 PM

    Nothing happening until after the elections….stop the guessing of WERE AT THE BOTTOM NOW…over and over you guys kee p GUESSING and keep on being wrong.