Weekend Show – Sat 26 May, 2012

Economic Discussions; Company Updates; and Social Discussions

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Please remember all who have died in all wars on this Memorial Day Weekend!

In this show Al discusses:

  • Segment 1 – Bob Moriarty and Al discuss the folly of the economic actions going on right now.
  • Segment 2 – Director Yale Simpson answers listeners’ questions regarding Rugby Mining.
  • Segment 3 – Al and CPA Dan Pisenti discuss politics. (Some folks may not want to listen to this!)
  • Segment 4- Al and Louis James of Casey Research discuss investing in the resource market.
  • Segment 5 – Jeff Pontius provides an update on International Tower Hill Mines.
  • Segment 6 – Larry Reaugh provides an update on American Manganese.
  • Segment 7 – Marc Payne and Al discuss the importance of personal responsibility.
  • Segment 8 – Al and Peter Grandich pay homage to our veterans and others who have served our country.



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Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

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Featuring:
Al KorelinBob MoriartyYale SimpsonDan PisentiLouis JamesJeff Pontius
Larry ReaughPeter Grandich

Comments:
  1. On May 26, 2012 at 4:40 am,
    Jerry O^OTB says:

    Al, I agree with you on the likeness of the two party system……..
    DAN P…NEEDS A HISTORY LESSION….his ideas of a difference in the two parties,
    shows his lack of understanding….the system is a “TWO HEADED SNAKE”
    the system is DEMOCATIC REPUBLICAN…..they do and act alike….that is why
    we are in the shape we are in…..
    Tell Dan to go back and do some reading on Andrew JACKSON…AND THE BANKING SYSTEM….and the entitlement system…..
    WELFARE, WAR, AND THE CONSTITUTION….the parties vote the same…..therefore, there is no difference..
    I feel that Dan P. has insulted the great people on this site, and needs a reality check,
    he is a horse with blinders on….a hopeless idealist of a supposed two party system,
    that is suppose to be, but, does not exist…..AND THAT IS MY RANT OF THE DAY…
    (maybe a little rough)

    Sorry, for starting out on the “wrong side of the bed”, everyone have a great memorial day….should be a great INDY 500……(the greatest spectical in racing, cars that is…..)
    best….O^O TB….

    • On May 26, 2012 at 10:18 am,
      Big Al says:

      Morning In the Box,

      Dan is very conservative and in this case he is discussing the lessor of two evils.

      Any comments on the comment from Joseph? I am pretty angry!

      Big Al

      • On May 26, 2012 at 12:24 pm,
        Jerry O^OTB says:

        Hello Al…..I mentioned in one of my responses,,,”that I would suggest that if someone
        does not want to read something,,”,just skip over it”….and with Joseph’s comments,
        I did just that,,,I did not read all the comments and exchanges that he was engaged in
        with the other viewers….and you…
        I must say, that if you are angry, then you most likely have reason, and I would not
        hold anything against you for deleting any and all comments…..I feel that you are more than fair, since I have been around this site for well over 5 years….(or when ever you started letting us comment)…..I have always found you to be fair, and see that you would be fair in this subject as well….
        I would have to say to Joseph, that if he wants to participate in this site, that he reframe from bashing the host, and the viewers. I do think that would be fair to all parties, but, if a viewer participates in the action, he to should reframe from continueing such discord. I feel, that some subjects do get heated, and that many of us get excited…(me included)….I harbor no ill feelings, after awhile, but, we are afterall
        human….and as they say…..TO ERROR IS HUMAN, TO FORGIVE IS DEVINE……
        So, bottom line….this is your site, as another viewer has suggested , and we do respect
        that you are responcable for our actions and our post…..SO , everyone can like it, or go on their merry way….and find something better, which I doubt they can….
        I intend on staying around until the “bubble burst” in PM, which I feel is a few years from now…..SO, BIG AL, RELAX, HAVE A GREAT WEEKEND…..
        AND TO JOSEPH…..RELAX, AND HAVE A GREAT WEEKEND…..
        REMEMBER, GOD NEVER PUTS,ANYONE IN YOUR PATH, THAT SHOULD NOT BE THERE,
        IT MAY BE FOR YOUR BENEFIT, OR THE OTHER PERSON’S BENEFIT…
        BEST……..O^OTB….

        • On May 26, 2012 at 12:53 pm,
          Jerry O^OTB says:

          Al,,,update….when I posted the above, I had not read your comments below, banning Joe from the site….
          so, please take that into consideration when reading my post…..
          Respectfully as always (or at least as much as possible)

          Your friend…
          OOTB..Jerry..

          • On May 27, 2012 at 7:28 pm,
            Big Al says:

            Hi In the Box,

            You know it’s kind of funny. I was in church earlier and thought about your comment. Yes I agree, to err is human and to forgive is truly divine.

            Jesus also said to “shake the dust from your sandals” and that is exactly what I am doing in this case.

            I finally came to the conclusion that many comments are insulting to the folks who participate on this site. I cannot stand for that and so I am “shaking the dust from my sandals”.

            Best to you and the rest of our wonderful family. You all deserve better and that is what you will get.

            Big Al

          • On May 28, 2012 at 4:28 am,
            Jerry O^OTB says:

            Good Morning Al,
            “shake the dust off the sandals,” is a favorite of mine, I use it quite often when dealing with people I no long want to associate.
            I agree that we deserve better,,,and that is why we are here…there are a lot of “better” humans here , and many with great exchanges of ideas…..
            So, we are with you 100%, keep up the great job……
            Wishing that today, brings you the best….
            Respectfully
            Jerry…ootb.

        • On May 26, 2012 at 2:24 pm,
          Big Al says:

          Very wise comments, In the Box!

          Big Al

          • On May 28, 2012 at 8:37 am,
            Big Al says:

            Many thanks for the comment about the sandals, In the Box. I share your thoughts exactly, my friend!

            Big Al

      • On May 26, 2012 at 6:32 pm,
        Dai Uy says:

        Al:

        Joseph needs some serious help; hopefully he will get it. Shake it off and don’t let it ruin your week-end.

        Best

        • On May 27, 2012 at 7:30 pm,
          Big Al says:

          Trust me Dai Uy,

          It will not and has not.

          Best,

          Big Al

  2. On May 26, 2012 at 5:18 am,
    Bobby says:

    Nice rant Jerry, short and sweet. but your forgot to mention Crony Capitalism.

    Dan P’s words, “the contender is not nearly as dangerous” says it all.

    • On May 26, 2012 at 5:36 am,
      Jerry O^OTB says:

      Hi Bobby,……thanks for the followup…..You said it all….CRONY CAPITALISM…..
      AND “not nearly as dangerous”,,,,,,but, still dangerous to all Americans,,,,
      and as….. TOM CRUZ,SAIDin the movie ” A FEW GOOD MEN.”….”I said dangerous, and you said dangerous,”

    • On May 26, 2012 at 10:20 am,
      Big Al says:

      Morning Bobby,

      That is what I meant in my response to In the Box above.

      I believe that he meant the lesser of two evils”.

      I would also ask you for any comments that you have on Joseph’s comment above.

      Thanks,

      Big Al

      • On May 26, 2012 at 3:32 pm,
        Bobby says:

        Big Al,
        You did the righ thing by banning Joseph, I like Jerry, usually skip over most of his comments because i found them offensive. Al, I find you the most patient, agreeable person on the planet and I do not always agree with you, but in this case I would have booted him long ago.
        relax, have a great weekend with your family and certainly dont let creeps bother you.
        bobby

        • On May 27, 2012 at 7:31 pm,
          Big Al says:

          Thanks Bobby,

          I take all of our family’s comments on this site very seriously.

          Big Al

  3. On May 26, 2012 at 5:28 am,
    Jerry O^OTB says:

    SEG 6….Al, If, I were looking for a stock to purchase, I would have a question in regards to Larry missing the cost of production by 100%. Surely as a business man, and being in the business for a long time, and understanding the inflation situation that he should have understood…makes me question
    ,….. how did he miss the numbers so badly?

    On the positive side, I do think that a ” rare earths” project look very appealing….
    and as John W. said, the process of minimizing of water useage seem appealing…
    but, with that said , I would question the management at this point,,,,sorry, for sounding negitive.
    POSTED BY : GOT UP ON THE WRONG SIDE OF THE BED…..

    Best….
    O^OTB

    • On May 26, 2012 at 10:22 am,
      Big Al says:

      Hi again In the Box,

      You bring up some very good points.

      You think that you got up on the wrong side of the bed, I am so angry about Joseph’s comment above that it could very well ruin what started out to be a pretty good day.

      Big Al

  4. On May 26, 2012 at 5:47 am,
    Jerry O^OTB says:

    Marc P…..great interview…….you held up well under Al’s questioning……
    Al, is a tough interviewer….
    .”DOWN AND DIRTY”….hey,,,now you are talking IRISH AND MY language….
    “CIRCLE THE WAGON”……I agree…..
    Great job…….both of you……

    • On May 26, 2012 at 10:11 am,
      Marc says:

      Thanks Jerry,
      All the VERY best!
      Marc

    • On May 26, 2012 at 10:22 am,
      Big Al says:

      Hi In the Box,

      Marc is as very bright and intuitive individual!

      Big Al

  5. On May 26, 2012 at 5:47 am,
    Keep Stacking says:

    Hi Big Al.
    Another great show. CME group reduced margin and maintenence on gold Thursday evening a bit. This should help with gold and silver prices rising. Have a great holiday.

    • On May 26, 2012 at 10:23 am,
      Big Al says:

      Many thanks Keep Stacking!

      You also have a great holiday!

      Big Al

  6. On May 26, 2012 at 6:04 am,
    Jerry O^OTB says:

    Al,,,,anyone that has served in the Army…already knows….that the service is a joke,
    We have undeclared war…..EISENHOWER , WARNED US ON THE MILITARY STUCTURE,
    WE ARE NOT DEFENDING ANYTHING EXCEPT A WAR MACHINE…..FOR PROFIT…..
    The common soldier goes into the military for the country, but, that is not the case,
    we have no business in 120 countries….we are not protecting anyone, including ourselves…..this is a scam….for profit…..made to look patriotic…
    My 50 cents..worth….and that will not even buy you a cup of coffee….
    My second RANT OF THE DAY…..ENDING ON A GOOD NOTE….
    GOD BLESS AMERICA………

    • On May 26, 2012 at 10:24 am,
      Big Al says:

      You are wrong! It will buy you a cup of coffee at a rest stop where all they ask for is a donation of your choice!

      Let’s both have a better day, my good friend!

      Big Al

  7. On May 26, 2012 at 6:35 am,
    Tom says:

    Al. Larry never answered the question that you had implied
    As to whether Amy is going to go into production and when. Could
    You have him respond. Thanks, Tom

    • On May 26, 2012 at 10:25 am,
      Big Al says:

      Hey Tom,

      Considering I own over 30,000 shares, you bet I will.

      I have to say that I do have faith in him and, at this point, I believe that he is working very hard.

      Best,

      Big Al

    • On May 26, 2012 at 8:44 pm,
      John W. Robertson says:

      Tom,

      I wouldn’t mind hearing an update to that myself. The inflationary costs are what caught me off-guard a bit. Going from $100M to $200M is very doable with the business plan. $450M, the highest number based on Larry’s quick interview, is quite high though. There’s no question AMY is serious. They’ve got the chemistry, PFA and a lot of the permitting done. But they’ll also have to hear back from customers how much of a commitment they’re willing to make for a domestic supplier. If they can get a mine built for less than $200M, I would still be very bullish.

      • On May 27, 2012 at 8:05 pm,
        Big Al says:

        Look for another update on AMY this week, John W.

        Best to you,

        Big Al

        • On May 27, 2012 at 9:27 pm,
          John W. Robertson says:

          Thanks Big Al. Can always count on your site to get the info direct from the source.

  8. On May 26, 2012 at 7:03 am,
    shawn says:

    I think we should clone Harry S. Truman, the man who said “The Buck Stops Here” because the buck passing and buck printing is destroying our way of life. There is a reason why “Nero” is remembered in the fall of The Roman Empire, he wasn’t burning CD’s, the empire is burning and the G20 fiddlers are fiddling.

    • On May 26, 2012 at 10:14 am,
      Marc says:

      Shawn,
      I agree 1000%….well said…thanks for all your input.

    • On May 26, 2012 at 7:25 pm,
      John W. Robertson says:

      It’s hard to imagine a president today actual saying those words. Times have changed.

  9. On May 26, 2012 at 8:24 am,
    MissiveDuTexas says:

    Let`s also remember why all the men and women who laid down their lives stood for: the survival of liberty and the american culture and society.

    A country where no standing army was necessary, and here is why:

    Where Is Freedom Guaranteed by A Heavily-Armed Civilian Population?
    http://www.barefootsworld.net/switzrld.html

    Hence the second amendment:

    A well regulated militia being necessary to the security of a free State, the right of the People to keep and bear arms shall not be infringed.

    “Before a standing army can rule, the people must be disarmed; as they are in almost every kingdom in Europe.” – NOAH WEBSTER

    A state of war only serves as an excuse for domestic tyranny. – Aleksandr Solzhenitsyn

    • On May 26, 2012 at 10:27 am,
      Big Al says:

      Morning MissiveDuTexas,

      Great input, thank you!

      Big Al

  10. On May 26, 2012 at 8:29 am,
    Dennis M. O'Neil says:

    Dan Pisenti – made an extremely important point on his way to a larger point.
    He said verbatim:
    “…….Social issues…….which matter by the way!”
    “If we handle social issues one way that is going to effect the way we handle certain economic issues.”

    This is an immense point. Too often when talking politics even with fellow conservatives/libertarians the social issues are dismissed and/or de-emphasized.
    However, as Dan said in another context “This is so wrong headed!’

    In America for collectivism to flourish the soft foundation of Marxism needed to be tented upon the rubble of Capitalism. The ultimate collectivist goal Marxism was foreign to post revolution United States. It could not take seed. Before it could small baby collectivist steps were needed to deteriorate the social fabric of the American character.
    The American character was required to be worn down and torn apart. Only then could the idea of true collectivism take hold. For decades the American Spirit repelled and rejected the ideas that were trumpeted in Europe. Ellis Island brought more to our country then huddle masses. The Island ferry brought ideas. Some of those minds brought wrong ideas which they maintained and advocated. Ironically the oppression which these wrong minds fled was brought about by the misplaced ideas they maintained. These ideas were openly advocated here. The American character was bombarded by these ideas. They were popularized by the old money supposed well reads who could just sit around all day and opine. However, the strong national character rejected these tragically flawed ideas out of hand. A strong work ethic, extended families, religious conviction, sound a education were armor to these dubious ideas of a collective Utopia.
    Socialist on their soap boxes would be dismissed. “If it is to good to be true..then it is too good to be true!” “You can’t get something for nothing!” “Money doe not grow on trees!” Americans knew better. Why return back to feudalism? Then we would rather be an at risk struggling farmer as opposed to a secure serf.
    The American character needed to be assaulted.
    And so it was. It was attacked socially…. families….churches…schools were ground zero.
    Like a plow head penetrates and disrupts the ground the collectivist needed to find fertile soil. As the late Sen Patrick Moynihan said “We are defining deviancy down”. After a span of time what once was a well tended garden becomes a briar patch.
    The American foundation was laid siege upon.
    The family was compromised from all directions.
    Religion was brutally assaulted by science which by definition cannot address faith.
    The work ethic was replaced with entitlements.
    Schools became platforms of indoctrination.
    After decades of continued siege the walls were crumbling.
    Out of wedlock births became the norm.
    Divorce was a flip of the coin.
    You could have sex with anything you wanted just as long as it was breathing when when you are finished and whatever you do do not smoke afterward.
    Church pews were empty.
    Farmers were paid not to grow crops.
    People were paid not to work.
    Diplomas were delivered to those who could not read what they said.
    Obama did not transform anything…he is just trying to build something new on the rubble.
    It is contrary to my own libertarian thought to address some of the above….but not thinking about it does not change it.
    I believe an individual should make choices but they should do so in full realization of the impact the choice has on their person and the society in which they live.
    Fully informed decisions would not of arrived at where we find ourselves.
    This is why it is important for the collectivist to control education and mass media.
    Their you have it the bulls eye of the collectivists communist: destroy 1) organized religion 2) the family unit and 3) indoctrinate them instead of educating them. All while the state becomes their nanny.
    All this performed under the agreeing head nods of mass media punditry.
    There you have it a well tilled fertile ground seeded with weeds.
    Obama is merely a bit player in Act III.
    It is the time after a lengthy siege in which we see if those being laid siege to have any resolve.
    Time will tell us.
    Make no mistake though…..as Dan Pisenti said…..social issues matter! They are the cannon balls impacting out walls.
    De-empsahsizing social issues is like abandoning the walls during a siege.
    We need to define the perimeter and defend the walls vigorously.

    • On May 26, 2012 at 9:30 am,
      Silverbug Dave says:

      Don’t worry about science and religion. Some of the most devout religious people I have known were science students or graduates – and good scientists too, top grade. Science wasn’t invented to assault religion. There was little science and no technology when religions developed – I mean without experimentation and technology, how could ancient civilisations address the great questions of where we came from and where we are going? You have to go to philosophy and faith. I loved reading the first few books of the Bible that talked of the founding of a great people and then in 1776 there was the founding of another great people, some kind of parallel I feel, based on individual freedom and on responsibility to each other and to God.

      SOCIALISM is the great enemy of religion. It is also the enemy of science because socialists/fascists are the enemy of any truth. They are also the great dismantlers of any institution in their path, whether it is the Family or the Church. They have even gone into destroying sovereign Nations (re: Greece) to get their world rule into place, piece by piece. The socialist governing classes want to own our bodies and our minds, as well as all our other property. Socialism is changing the definition of marriage and of family, which have been the same since the dawn of mankind. They promote divorce, abortion and all kinds of alternative sexuality. They promote promiscuity and sexual immorality constantly. Now why could that be?

      The people are asleep. They want more socialism – they want to be slaves. It’s so very sad because they will get what they want and so will their children for many generations to come.

      Fortunately, I think there are other people in the world (outside the Western world) who will not go with this project. I know a number of these people, mostly Asians of one kind or another. They want liberty, freedom and they want our money so they can be free and happy. So they will inherit the world from us and good luck to them.

      • On May 26, 2012 at 10:44 am,
        Dennis M. O'Neil says:

        Dave,
        I agree with you criticism.
        I do not intend to be scientific recluse.
        I embrace sound objective science.
        Science has been used as a tool by frauds by many types.
        The house I grew up in was built upon profits of Dr. Kilmer’s Swamp Root.
        Dr. Kilmer sold a cheap medicinal buzz that made those who drank it less tired when they woke up. Junk science has been used to promote iladvised well funded political goals, convict innocent, promote bad products, even falsify drill results. It is something about the credibility of a ‘scientist’ that the unwise attribute too much.
        Be cautious when a Dr. who wears his white coat and stethoscope as a prop.
        Lending unwarranted credibility to the undeserving may allow you to arrive where you want to be….but you may have arrived there anyway….. likely more cheaply.
        Watch the following and then ask yourself…….What does he know?:
        http://search.yahoo.com/search?p=jim+palmer+shamppo+commercial&ei=UTF-8&fr=w3i&type=W3i_DS,136,0_0,Search,20110105,6901,0,8,0
        Lather…Rinse….Repeat.

        • On May 26, 2012 at 10:49 am,
          Dennis M. O'Neil says:

          More direct link

          What does he know?:
          http://www.youtube.com/watch?feature=player_embedded&v=QsWKN32mLmk
          Lather…Rinse….Repeat.

          Lather…Rinse….Repeat.

          More direct link….what

        • On May 26, 2012 at 12:04 pm,
          John W. Robertson says:

          Dennis, I keep picking terrific quotes out of your comments. Ever think of writing a book?

          • On May 26, 2012 at 12:23 pm,
            Big Al says:

            John W,

            I agree completely with you. Dennis M. is a very interesting guy!

            Big Al

          • On May 26, 2012 at 12:27 pm,
            Dennis M. O'Neil says:

            I am.
            Right/write here on Al’s site!
            Thank You!

      • On May 26, 2012 at 10:50 am,
        Big Al says:

        Great commentary SilverbugDave!

        Big Al

    • On May 26, 2012 at 12:22 pm,
      Big Al says:

      HI Dennis,

      Your comment is very important to me and certainly worthy of discussion.

      I just spoke with Dan who is on a camping trip. He will return on Monday and we will record a Daily Editorial elaborating on this subject.

      Best to you,

      Big Al

      • On May 26, 2012 at 1:04 pm,
        Dennis M. O'Neil says:

        I will e-mail you a more readable copy.

        • On May 26, 2012 at 2:27 pm,
          Big Al says:

          Thanks Dennis M,

          I printed it out and I believe I completely understand it.

          By the way, I am not inferring that I disagree.

          Big Al

  11. On May 26, 2012 at 8:36 am,
    MissiveDuTexas says:

    Good text there O’Neil.

    I also like to remind myself that the degree of corruption and property rights are key to defining how social issues will be handled. The third world usually has no concern for any of those two. And the majority lives in poverty.

    • On May 26, 2012 at 9:13 am,
      Dennis M. O'Neil says:

      Missive,
      I pressed send to early on the above……but if you struggle through….. my errors and omissions can be worked through in context of whatever ideas I presented. Sorry for all the typos…I need an editor. Maybe it is the fact I am tending the flower beds this weekend that arrived me there.

      In re to Al’s opening segment…was your point that DEBT BASED ‘money’ is required to continually expand or it will destroy itself?
      Or were you thinking something else?

      • On May 26, 2012 at 10:53 am,
        Big Al says:

        HI Dennis,

        First of all, I printed out and read your comment (above) a couple of times. I think that it was a very worthwhile comment.

        I have left a message with Dan. I certainly would like to continue this discussion with him.

        Take care of the flowers, man. I am off to fix our garage door opener.

        Best as always,

        Big Al

        • On May 26, 2012 at 11:32 am,
          Dennis M. O'Neil says:

          Tip……If the spring is broke call someone.
          Good show!
          Marc, I enjoyed your segment.
          My theory is as follows: If you do not have a right to your first breath then the Bill of Rights does not mean much.
          Unfortunately, this once strong point means less when the Bill of Rights is in dilapidated condition as of late.

          • On May 26, 2012 at 12:24 pm,
            Big Al says:

            Ain’t that the absolute truth!

            Big Al

          • On May 26, 2012 at 1:27 pm,
            Marc says:

            Amen…Dennis…..Amen!!

        • On May 26, 2012 at 12:06 pm,
          John W. Robertson says:

          Al, if you need help, call! If there’s one thing you get good at living in the desert, it’s fixing garage doors (dust, heating/cooling cycles really take their toll).

          • On May 26, 2012 at 12:26 pm,
            Big Al says:

            Many thanks John W,

            I just spent about 1/2 hour and talked with the manufacturer. Looks like I need to replace the remote key pad. Appears not to be a big deal.

            Best,

            Big Al

      • On May 26, 2012 at 10:54 am,
        Big Al says:

        I assume you are referring to Missive’s comment.

        My opinion of debt based money is that it will definitely destroy itself.

        Big Al

      • On May 27, 2012 at 7:35 am,
        MissiveDuTexas says:

        Dennis.

        Not sure which of my comments you are referring to. The debt based system allows the international financiers to concentrate wealth at every downphase of the business cycle. Jefferson understood that.

        “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson

    • On May 27, 2012 at 10:07 pm,
      Big Al says:

      That is so true Missive!

      Big Al

  12. On May 26, 2012 at 8:54 am,
    Tom says:

    Ho Al,
    I am just wondering if you could get any update on caza gold II haven’t heard them mentioned in a long time and the stock price has recently dropped quite dramatically. thanks Tom

  13. On May 26, 2012 at 8:56 am,
    Tom says:

    Ho should be hi ……..darn cell phone

    • On May 26, 2012 at 10:55 am,
      Big Al says:

      Yep, Tom, I make those mistakes (using my Droid) constantly!

      I will do what I can re: Caza.

      Best,

      Big Al

  14. On May 26, 2012 at 9:36 am,
    Larry says:

    I wish to bring to this group the story of the past week. They announced that the Eaton Corporation was relocating their Corporat Headquarters to IRELAND from Clevland Ohio. This is a corporation founded in 1912 that manufactures a broad range of industrial products in plants across the US. I spent many years selling their products. This is one of the final nails in the coffin of American industrial manufacturing. This is truely a sad day in the history of this countries growth and economic development. We will all have to try and live off service, tech and government jobs.

    • On May 26, 2012 at 10:37 am,
      Richard says:

      Larry, Eaton is not moving their corporate headquarters to Ireland. They just purchased Cooper Industries which is legally incorporated in Ireland. After the merger is complete they’ll file new incorporation papers in Ireland in order to shield profits earned overseas from U.S. taxes. The corporate headquarters will remain in Northeast Ohio.

    • On May 26, 2012 at 10:57 am,
      Big Al says:

      Hi Larry,

      I actually studied Eaton a long, long time ago.

      I came to the conclusion that they were one of the best run corporation in our country.

      Am I correct in your opinion?

      Big Al

    • On May 28, 2012 at 5:28 am,
      Jerry O^OTB says:

      Larry……thanks for the post….just read….and is a sad fact of manufacturing in the “MADE IN THE USA”……..
      NOTE TO IRISH…….here comes some jobs your way….this is a great company,call your friend and relatives…..

      • On May 28, 2012 at 5:29 am,
        Jerry O^OTB says:

        IRISH DO NOT FORGET TO PICK UP THE COMMISSION AND FORWARD BACK FOR THE LEAD….

        • On May 28, 2012 at 9:29 am,
          Big Al says:

          Mr. Irish,

          You do know where to send that commission, don’t you!

          Big Al

  15. On May 26, 2012 at 10:38 am,
    Richard says:

    I might add that I can check this out with one of my brothers who is a senior VP for Eaton.

  16. On May 26, 2012 at 11:34 am,
    Larry says:

    Yes, they are very well run Al. Richard thanks for the correction. But it might just be a matter of time.

  17. On May 26, 2012 at 12:22 pm,
    John Flinn says:

    what insurance co. does dan pisenti work for??
    what a liberal!!!!

    • On May 26, 2012 at 12:27 pm,
      Big Al says:

      Hi John Flinn,

      Dan is about as far away from being a liberal as possible.

      He is a CPA who believes in free markets and freedom for people.

      Best,

      Big Al

  18. On May 26, 2012 at 1:07 pm,
    Dennis M. O'Neil says:

    Or as Marc said:
    Circle the wagons Jerry O^OTB!!!!!!!!!!!!!!!!!!!
    Circle the wagons!!!!!!!!!!!!!!!!!!

  19. On May 26, 2012 at 2:41 pm,
    BJ says:

    Big Al, you’re on the money about the two-headed snake running our country, whereas Dan Pisenti speaks like a blind partisan talking off a punch list. All he can tell us is how bad Obama is, but doesn’t say anything about how Romney is going to make things better. As for me, I done voting of the lesser of two evils because it’s evil nonetheless. I’ll be writing in Ron Paul this November.

    • On May 27, 2012 at 4:06 am,
      Bobby says:

      Bj, as i have stated before, I will be doing the same. Someone has to send a message that the 2 party system and Crony Capitalism is no longer acceptable.

      • On May 27, 2012 at 10:10 pm,
        Big Al says:

        Bobby,

        I second that motion!

        Big Al

        • On May 29, 2012 at 3:27 am,
          Jerry O^OTB says:

          MAKE IT A THREESOME…….DOWN WITH THE TWO HEADED SNAKE….

    • On May 27, 2012 at 10:09 pm,
      Big Al says:

      Me too, BJ!

      Big Al

  20. On May 26, 2012 at 3:10 pm,
    benb says:

    The Basel Committee for Bank Supervision (BCBS), the maker of global capital requirements and whose Basel III rules form the basis for global bank regulation, is studying making gold a bank capital Tier 1 asset.

    “Gold has historically been classified as a Tier 3 asset. When determining how much money a bank can loan, the bank’s gold holdings have traditionally been discounted 50 percent of the current market value. With value cut in half, banks have little incentive to hold gold as an asset.” Frank Holmes, usfunds.com

    If gold is made a Tier 1 Capital asset banks could operate with far less equity capital than is normally required. Gold would be the new backstop for debt, currencies and bank equity capital.

    “Anyone who understands gold’s historic role will grasp the importance of the argument behind extra bank leverage. Direct ownership of bullion by a bank is superior to holding the fiat money issued by a central bank. It should increase confidence in any bank and the system as a whole. Given relative values, bank purchases of bullion will drive the value of gold as Tier 1 capital up relative to other qualifying assets, increasing its desirability for regulatory purposes further without a gold-owning bank doing anything.” Alasdair Macleod, resourceinvestor.com.

    This short essay, which is definitely worth reading, showed up over at the safehaven.com website yesterday…

    Thought this might be interesting.

  21. On May 26, 2012 at 3:19 pm,
    Dennis M. O'Neil says:

    It is time for Washington to Grow up”. But not in the way this article suggests:
    http://online.wsj.com/article/SB10001424052702304707604577424273550980532.html?KEYWORDS=washington
    I wonder if we give the author the story was aware of the dilemma of the construction of the monument they use as depiction? If he did why did he not change his mind. The Washington Monument should be looked to as a monument of frugality. NOT GROWTH. They should shoe a picture of Barney rank before and after if they want to depict growth.

    As described on this site when Al toured Washington as follows:
    2) How the Washington Monument has to shades of stone…..because back in the day they ran out of funding….instead of deficit spending they stopped construction…. the corner stone was laid in 1848 and the capstone not until 1884…..by the time they got back to work the stone secured was from a different part of the quarry…thus the noticeable unintentional bi-color monument to our first President.

    If we pay for every Masonically blessed block with cash build away.

    Just keep it below the height of Lady Liberty.

    • On May 26, 2012 at 4:10 pm,
      Dennis M. O'Neil says:

      Sorry for all the typos. I am in porch mode.
      Porch mode means that I do not prroof read!
      Sorry?

  22. On May 26, 2012 at 4:44 pm,
    Wesley says:

    Presidents don’t run the country anymore and the only social issue we need to be concerned about is strict adherence the Constitution. Its those social issues that were used to polarize the nation.

    If your guest thinks Romney can save the country, then he is sorely mistaken and has been misled.

    There is no Left-Right, only tyranny and freedom……Ron Paul.

    • On May 27, 2012 at 10:13 pm,
      Big Al says:

      Actually Wesley,

      I did not hear Dan say that Romney could save the country.

      Big Al

  23. On May 26, 2012 at 5:13 pm,
    Dennis M. O'Neil says:

    Korelin report theme song suggestion:
    http://www.youtube.com/watch?v=VnwWJs6h7AA

    • On May 28, 2012 at 8:48 am,
      Big Al says:

      Hi Dennis,

      I was a little uncomfortable watching Tony.

      Seems a little un-American to me. I mean, no tattoos; no violent lyrics; no jeans with holes in them; no anger; obviously not stoned; and the list goes on and on.

      Common man, this is America!

      Big Al (Ouch, I just bit my tongue!)

  24. On May 26, 2012 at 6:25 pm,
    Irwin says:

    Hi Dennis M.
    Saturday night music – - nothing wrong with that!

    ABBA-The Winner Takes It All
    http://www.youtube.com/watch?v=OuJl1T-trLw&feature=related

  25. On May 27, 2012 at 1:32 pm,
    MissiveDuTexas says:

    Al and Bob.

    Sounds to me like it is difficult to step away from financial orthodoxy long enough to see the forest as a whole. I’ll just suggest some read:

    http://hidhist.wordpress.com/banksters/how-benjamin-franklin-made-new-england-prosperous/

    Paying interest on currency created out of thin air is in my book fraudulent, hence the RICO act.

    I understand all gold bugs see Bill Still`s knowledge as threatening to their potential gains, but we are talking about the future of humanity here.

    “As you know, I am entirely sympathetic with the objectives of your Monetary Reform Act…You deserve a great deal of credit for carrying through so thoroughly on your own conception…I am impressed by your persistence and attention to detail in your successive revisions..Best wishes, Milton Friedman” Nobel Laureate in Economics; Senior Fellow, Hoover Institution on War, Revolution and Peace

  26. On May 27, 2012 at 1:56 pm,
    Dennis M. O'Neil says:

    Jesus was crucified.
    He did not show rage to those who captured him.
    He did not show rage to those who jailed him.
    He did not show rage to he who judged him.

    He did not show rage to those that killed him.

    During his ministry he only displayed rage once at a Temple.
    Whose table did Jesus turn over?
    If Jesus did not like them neither shall I!

    • On January 31, 2014 at 7:50 pm,
      Fadairo says:

      Superb inotrmafion here, ol’e chap; keep burning the midnight oil.

  27. On May 28, 2012 at 9:21 am,
    benb says:

    If gold is made a Tier 1 Capital asset banks could operate with far less equity capital than is normally required. Gold would be the new backstop for debt, currencies and bank equity capital.

    I just figure this might influence the demand/price of gold.

    Very thought provoking show this weekend Al.

  28. On May 26, 2012 at 10:09 am,
    Big Al says:

    Joseph,

    You are no longer welcome on this site.

    Al Korelin

  29. On May 26, 2012 at 10:34 am,
    Nathan says:

    Joseph…..you’re an ass hole and a perfect example of why we are hated in the west.

  30. On May 26, 2012 at 10:16 am,
    Big Al says:

    Let me go one step further, Joseph.

    I had relatives who were killed by the Communists.

    For you to make a comment like that with absolutely no knowledge of my background is absolutely uncalled for.

    You talk about love? I am not sure that you know what that word means.

    You are now blocked from our site.

    Al Korelin

  31. On May 26, 2012 at 10:58 am,
    Big Al says:

    Thank you Nathan,

    His comment is totally uncalled for and ignorant.

    Best to you, my friend,

    Big Al

  32. On May 26, 2012 at 11:37 am,
    Irwin says:

    Fanatics make me nervous and I can empathise with Big Al’s reaction to Joseph’s “joking around”. For this purpose I’ll define “fanatic” as someone who insists everyone must believe as he does, whether in politics, religion, or whatever.

    1/ My parents escaped from the Bolsheviks with what they could carry, just months before all emigration from Russia was stopped; I heard a lot of stories about those times.

    2/ Last night I watched “The Mortal Storm” (Jimmy Stewart) a 1940 film about the beginnings of Nazism in the German Alps.

    3/ I see too many news clips of former bar tenders, garbage collectors, taxi drivers, etc now wearing identical uniforms and “gate raping” kids, grandmothers, and disabled at airports.

    The above, seemingly unconnected events, are painting an ugly picture in my mind of the day, perhaps not so distant, when it’s going to take a lot of guts to stand up to a gang of jackbooted thugs in North America. And it wouldn’t surprise me to see a few of those thugs wearing golden crosses dangling from chains around their necks.

    Free will is more precious than gold, and we seem to be losing it.

    sorry, I think I went off on a tangent.

    Here’s a 5 minute clip from “The Mortal Storm”.
    http://www.youtube.com/watch?v=3sC7BvKJtGc

  33. On May 26, 2012 at 12:20 pm,
    John W. Robertson says:

    Really excellent observations Irwin. There have been some unintentional and some overt moves to Brown-shirt society. Everyone has the uniforms you mention, plus ID tags and two-way radios. I’m a ham, and did a lot of volunteering, and I don’t want to throw babies out in the bath water, but it was a little concerning to me even back in the 1990′s how restrictions here, fenced areas there, were everywhere. And that was in safe, supposedly free Canada. I believe strongly in a rule of law. It’s one reason ‘the west’, however defined, had freedoms and desirable living standards that became enviable. But we are taken our own freedoms and law away from ourselves!

  34. On May 26, 2012 at 12:29 pm,
    Big Al says:

    Thanks Irwin,

    I guess that we have a bit in common.

    I too am very concerned.

    Best,

    Big Al

  35. On May 26, 2012 at 12:46 pm,
    Dennis M. O'Neil says:

    Irwin,
    I have enjoyed you cooments.
    You referenced a telling movie that concludes with the following
    poem. Ponder this poem. Study it. Time well invested, to wit:

    I said to the man who stood at the gate of the year;
    ‘Give me a light that I may tread safely into the unknown.’
    And he replied, ‘Go into the darkness and put your hand into the hand of God
    That shall be to you better than light and safer than a known way!’
    So I went forth and finding the Hand of God Trod gladly into the night
    He led me towards the hills
    And the breaking of day in the lone east.
    So heart be still!
    At need our human life to know If God hath comprehension?
    In all the dizzy strife of things Both high and low,
    God hideth his intention.”

    Thanks Irwin!!!!!

  36. On May 26, 2012 at 12:30 pm,
    Big Al says:

    Hi John W,

    To an extent you are absolutely correct.

    Big Al

  37. On May 26, 2012 at 12:59 pm,
    Jerry O^OTB says:

    you are correct JWR…we are taking our own freedoms away from ourselves..

  38. On May 26, 2012 at 1:05 pm,
    Dennis M. O'Neil says:

    Man the walls Jerry O^OTB!!!!!!!!!!!!!!!!!!!
    Man the walls!!!!!!!!!!!!!!

  39. On May 26, 2012 at 2:31 pm,
    Big Al says:

    Thanks Irwin and Dennis M!

    big Al

  40. On May 26, 2012 at 3:14 pm,
    benb says:

    The Basel Committee for Bank Supervision (BCBS), the maker of global capital requirements and whose Basel III rules form the basis for global bank regulation, is studying making gold a bank capital Tier 1 asset.

    “Gold has historically been classified as a Tier 3 asset. When determining how much money a bank can loan, the bank’s gold holdings have traditionally been discounted 50 percent of the current market value. With value cut in half, banks have little incentive to hold gold as an asset.” Frank Holmes, usfunds.com

    If gold is made a Tier 1 Capital asset banks could operate with far less equity capital than is normally required. Gold would be the new backstop for debt, currencies and bank equity capital.

    “Anyone who understands gold’s historic role will grasp the importance of the argument behind extra bank leverage. Direct ownership of bullion by a bank is superior to holding the fiat money issued by a central bank. It should increase confidence in any bank and the system as a whole. Given relative values, bank purchases of bullion will drive the value of gold as Tier 1 capital up relative to other qualifying assets, increasing its desirability for regulatory purposes further without a gold-owning bank doing anything.” Alasdair Macleod, resourceinvestor.com.

    This showed up over at the safehaven.com website yesterday.

    Thought this might be interesting

  41. On May 26, 2012 at 5:11 pm,
    Jerry O^OTB says:

    I am manning the walls ,,,but, the castle is empty……seems Irish took off with the
    lasses…..and the masses followed…..

  42. On May 26, 2012 at 5:15 pm,
    Dennis M. O'Neil says:
  43. On May 26, 2012 at 5:34 pm,
    Dennis M. O'Neil says:

    the masses with follow the lasses and their .sses every time.
    OTB check out Al’s new theme song live:
    http://www.youtube.com/watch?v=xtiA5cFh2vk&feature=related

  44. On May 26, 2012 at 6:33 pm,
    Dennis M. O'Neil says:

    Better yet Al’s new theme song with a study of the psychology of murmurations in mass crowd settings plus one mediocre sax palyer:
    http://www.youtube.com/watch?v=FfV4AOgwY0o&feature=related

  45. On May 27, 2012 at 4:15 am,
    Jerry O^OTB says:

    was that Al,,on the drums…..I like the live aid 85 outfits…..

  46. On May 26, 2012 at 8:04 pm,
    Marc says:

    Benb,
    Making Gold a Tier 1 asset would put it back in the “catbird’s seat” where in belongs!!
    All the best,
    Marc

  47. On May 27, 2012 at 3:46 pm,
    Jerry O^OTB says:

    Tier 1…..that is good…….

  48. On May 28, 2012 at 9:24 am,
    benb says:

    If gold is made a Tier 1 Capital asset banks could operate with far less equity capital than is normally required. Gold would be the new backstop for debt, currencies and bank equity capital.
    I just thought this might influence the demand/price of gold.
    Very thouht provoking show this weekend Al.