Weekend Show – Sat 2 Jun, 2012

What a way to finish the week in the financial markets!

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We want to welcome all our friends in Portland, Oregon who are now listening on Radio Station KUIK.

In this show Al discusses:

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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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Al KorelinJeremy GrayRhylin BailieJames TurkRoger WiegandCarter Smith
Peter GrandichChris Temple
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  1. On June 2, 2012 at 3:08 am,
    Dennis M. O'Neil says:

    Below is a link to an editorial from 6/1 WSJ written by Stanford Economist John B. Taylor. The article quotes heavily from Freidrich A. Hayek’s “The Road to Serfdom” as well as his lesser known 1960 book “The Constitutiion of Liberty”. In case you missed it….this article is worth the time investment.

    • On June 2, 2012 at 8:25 am,
      Big Al says:

      Thanks Dennis M,

      The Road to Serfdom is truly an interesting book.


      Big Al

  2. On June 2, 2012 at 4:52 am,
    Dennis M. O'Neil says:

    In listening to the final segment I thought of the parable in Matthew 7:24-27 which follows. In a world infatuated with secular humanism we exist out of random chance. We supposedly evolved out of a primordial soup. In this setting our houses are built on sand. Below is a chilling link to a newscast from earlier this week in Chicago…the city in which our President community organized….it speaks volumes:
    When I look at nature I see the intricacies of intelligent design and the wisdom of a Creator. When we are not here by mere chance…when there is a purpose to it all…… when times get tough you are more likely to find your ‘house’ is sound.”

    Matthew 7:24-27
    24 “Therefore whoever hears these sayings of Mine, and does them, I will liken him to a wise man who built his house on the rock: 25 and the rain descended, the floods came, and the winds blew and beat on that house; and it did not fall, for it was founded on the rock.

    26 “But everyone who hears these sayings of Mine, and does not do them, will be like a foolish man who built his house on the sand: 27 and the rain descended, the floods came, and the winds blew and beat on that house; and it fell. And great was its fall.”

  3. On June 2, 2012 at 8:33 am,
    Big Al says:

    Morning again Dennis M,

    I asked God to come into my life close to thirty years ago. Since that time it has become much better although I do stumble more often than I would like. All I can do is to keep trying.

    I try very hard to live my life as is written in Matthew 7:24-27.

    I am human and sometimes I am not very successful. All I can do is keep trying!

    God Bless,

    Big Al

    • On June 2, 2012 at 8:39 am,
      Dennis M. O'Neil says:

      Too many of us have spent too much time selecting the decor instead of securing the foundation.

      • On June 2, 2012 at 8:46 am,
        Marc says:

        Boy, isn’t that the truth!

        • On June 2, 2012 at 8:52 am,
          Marc says:

          BTW, Big Al,
          Nice up-date on your comment picture..lookin sharp there! Now, don’t go corporate on us – you hear! And no media “star” interviews on CNBC…ok, ok, one with Erin Burnett at …..gulp…CNN…But, that’s it! Or it is no beer for you – my friend…now…Go Azzzzztecs!

          • On June 2, 2012 at 8:55 am,
            Marc says:

            Or..on second thought…maybe those dopes need some Korelin common sense and a dose of reality!! Let me now think about this.

          • On June 2, 2012 at 11:16 am,
            Big Al says:

            They need a dose of the kereport’s family philosophy.

            Remember it is all about all of us!

            Big Al

      • On June 2, 2012 at 11:15 am,
        Big Al says:

        Amen, Dennis M!

        Big Al

  4. On June 2, 2012 at 10:55 am,
    Dai Uy says:

    Once again Al, another “out of the ballpark” week-end program.

    May have to go to the Blaine truck crossing sometime after the 10th to iron out things with Homeland Security if things don’t work out before then. Notwithstanding all the necessary paperwork from Agriculture, they wouldn’t let my daughter bring back a frozen stainless steel container so she could impregnate her mare………………………Our Government at work protecting us all……………………..

  5. On June 2, 2012 at 11:17 am,
    Big Al says:

    Yep, Dai Uy,

    Protecting us all!

    Big Al

    • On June 3, 2012 at 2:42 pm,
      Silverbug Dave says:

      Thanks Al for a great show! Chris Temple made a briliant point about the 2010 Euro Greek crisis rallied gold despite the dollar index rising to 88 and then this time in early 2012 the Euro crisis has cratered gold. That’s because we are in a mini bear market for gold following a blow off interim top at $1920. However, Friday’s action in gold and gold stocks was impressive to say the least, just when most unexpected as usual! I started t liquidate some of my physical gld to raise cash and to buy gold stocks but I wish I had done it at $1900 and sat on cash until now!

      • On June 3, 2012 at 6:22 pm,
        Big Al says:

        Hi Silverbug Dave,

        Too bad that hindsight is always 20 – 20!

        Been there myself, man!

        Big Al

  6. On June 2, 2012 at 11:22 am,
    Ann says:

    Question to the pros. I’ve probably heard 1000 times to hold physical .i have 1700 oz. Of silver with silversavers which is endorsed by David Morgan and others should I convert to physical and have shipped to me or hold as “paper” I am truly grateful to those who have an opinion

    • On June 2, 2012 at 12:25 pm,
      Marc says:

      IMHO, get it in your hands and/or at least a savings deposit box – so you can anticipate the societal/banking atmosphere at any one time and then get to it quickly. Some people might disagree with svgs box, but that is what I am doing for now. BUT, I, of course, monitor things very carefully!
      All the best,

      • On June 2, 2012 at 12:27 pm,
        Marc says:

        Of course, I am not a pro…just trying to help and give input. 🙂

    • On June 2, 2012 at 1:12 pm,
      Big Al says:

      HI Ann,

      I cannot give investment advice. I would suggest that you call David.

      I personally have both stocks and physical.

      Big Al

  7. On June 2, 2012 at 12:22 pm,
    Dagen says:

    After God made the universe and ultimately man in the first book of Genesis in the Bible, he mentions gold in the second book of Genesis (and then continues in numerous other locations. Silver is first mentioned here:
    Gen_13:2 And Abram was very rich in cattle, in silver, and in gold.
    Also, the largest banks on the planet and most of the countries on the planet, trade in precious metals (mostly gold) to balance their accounts with one another (not dollars, not rubles, not diamonds, not zinc, etc.).
    In the United States, some states have legalized silver/gold as money which can be accepted in retail transactions and exchanges.
    Gold is the best to hold, but Silver is more ‘exchangeable’ in day-to-day transactions.
    Holding the metal in your hand is usually the best, but some people have a hard time with that for various reasons (space, privacy, protection, etc.).
    Nobody can tell you what is best for you to do. You have to decide yourself.
    Continue to educate yourself daily, pray daily, give thanks daily and help your fellow man daily as best as you can. You will be OK. You will have nothing to fear.
    As for me, if the bankers value precious metals over everything else to settle their accounts and Yahweh has mentioned it enough in the Bible as a valuable thing…..I guess it’s good enough for me.

    • On June 2, 2012 at 1:13 pm,
      Big Al says:

      Me too Dagen!

      Big Al

    • On June 3, 2012 at 2:59 pm,
      Silverbug Dave says:

      Isn’t the Internet amazing? On kingjamesbible.org, it lists the most popular words and it says the number of mentions for GOLD = 463, SILVER = 351, WATER = 426, LOVE 334, TEMPLE 304… Wow. ZAPHNATHPAANEAH = 1 (Pharaoh’s name for Joseph).

      • On June 3, 2012 at 3:10 pm,
        Silverbug Dave says:

        I should have said kingjamesbibleonline.org !

      • On June 3, 2012 at 6:23 pm,
        Big Al says:

        HI Silverbug Dave,

        Doesn’t that say it all!

        Big Al

  8. On June 2, 2012 at 1:20 pm,
    Ann says:

    Wow. Thanks. I will most likely take possession. Probably in eagles even with the 10 percent premium to convert from the spot price to physical

  9. On June 2, 2012 at 2:36 pm,
    Dennis M. O'Neil says:

    Lower your premium on a portion and you can possess some very effective 100 oz door stops.

    • On June 3, 2012 at 6:25 pm,
      Big Al says:

      You forgot one other piece of advice, Dennis M. Only used it for a door stop indoors!

      Big Al

  10. On June 3, 2012 at 8:20 am,
    MissiveDuTexas says:

    I have to give the benefit of the doubt, although it is becoming harder and harder to be an apologist to all the supposed financial market expert assigned to Gold.

    Al, you stated you studied Bernanke`s background and agree that more money needs to be poured into the current scam. Yet, you still believe austerity is necessary. So with that in mind, am I to conclude that you agree it is ok to give banks free money and then roll on this private debt to the public as a whole? Because that is exactly what is going on.

    Again, Benjamin Franklin, which people on this site obviously have not read or pondered on longer than the time they spent learning about mammon`s high priest in America, Ben Bernanke.

    A Modest Enquiry into the Nature and Necessity of a Paper-Currency by Benjamin Franklin (1729)


    • On June 3, 2012 at 9:15 am,
      Conservative Canuck says:

      I don’t want to take Al’s thunder, but I believe that in regard to his statement regarding qe3, he was speaking from the point of view of what Obama must do, to continue the illusion that “the economy is recovering”…never mind the fact that new jobless claims are typically 200-300k+ when they report x thousand jobs were created.

      • On June 3, 2012 at 6:52 pm,
        Big Al says:

        Thanks Conservative Canuck,

        Sure, that is a big part of it.

        The other part is not want to loose an election because the house is no longer standing!

        Big Al

    • On June 3, 2012 at 6:30 pm,
      Big Al says:

      I believe what I said MissiveDuTexas was that there were two choices One to prolong the disease and the other to take stringent medicine now.

      Unfortunately I talk about this so much I sometimes don’t say it all.

      To the best of my knowledge, I have always said that printing money is only valuable to “kick the can down the road”.

      Long ago, I had a lengthy discussion with Bob Moriarty, which we recorded for this program, where we both agreed that the house should fall and be rebuilt.

      If that is not what I specifically said, at least now you know what this “old guy” meant!

      Big Al

      • On June 4, 2012 at 3:56 pm,
        MissiveDuTexas says:

        “…there were two choices One to prolong the disease and the other to take stringent medicine now…”

        I do listen to your show while doing all my outside chores under the Texas sun, so hopefully, I can be forgiven for mis-hearing 🙂

        BTW, there are other options, but the current financial orthodoxy won`t allow this knowledge to be presented at the table. Things like issuing the currency based on the scientific, data based approached presented by raw materials economics. If only state representatives knew how much tax revenue are lost to this, they would quickly realize the pittance in transfers from the federal government is nothing compared to what americans can produce when motivated to do so.

  11. On June 3, 2012 at 9:10 am,
    Conservative Canuck says:

    Personally I agree regarding your comments regarding Christianity and your social philosophy. Secular societies including the Canadian variety can easily become less caring by nature for other people at times, and more self obsessed.

    This I found evident years ago when I had car trouble in Ontario, where I used to live, and found that no one would pull over to help or aid me with a cell phone when I had car trouble on a highway. That said, it’s my view that when people see things only getting worse, they take the view of “well If this is how it is, I’m going to get mine” and you see a resulting increase in crime and increasing lack of ethics and caring.

  12. On June 3, 2012 at 3:54 pm,
    MissiveDuTexas says:

    Adam Vs The Man


    The type of debate people should be smart enough to understand. All this while remaining somewhat courteous to each other.

    Deep calleth unto deep at the noise of thy waterspouts: all thy waves and thy billows are gone over me. – Psalm 42.7

    By the way, first time for me to hear this Adam guy. A very worthy mouthpiece for the libertarian philosophy.

  13. On June 3, 2012 at 6:04 pm,
    Dennis Brophy says:

    Hi Al, times do look bad for sure, but gold is up at last up again, so that`s a positive. There is a guy I usually talk to every day that`s

  14. On June 3, 2012 at 6:31 pm,
    Dennis Brophy says:

    ooops, I hit the wrong button again too soon, any way about this guy he`s a really good friend and a WWII vet., he`s been very successful his entire life, 3 years in the pacific during the war, making it out alive, then of to farming for 20 years, then running another type of business for 45 years in another business, but never quite retiring, been a Republican his entire life, a very good person, but not saved ie. born-again I`m working on him, the Holy Spirit too. He just hopes he will make it through the hard times that we are in as a country. He has guns too, but for hunting only. He`s quite diversified, but most of his stocks are only very small in dividends as to a return except for a few that were very speculative and all in all on an average his total return is about 5% given this market, which I think he`s very lucky. He`s a gray fox when it comes to money at 88 years young.

  15. On June 3, 2012 at 7:29 pm,
    Dennis M. O'Neil says:

    I find it interesting on how all the mainstream pretty and not-so-pretty faces have all gone negative in unison. Friday and suprisingly tonight a positive outlook could not even been pulled from Steve Liarman Liesman. A curious observation?
    SteveO has not been this negative since Obama took office.
    Could we be setting up for a low followed by a rally into Dem Convention and Fall election?
    Or have the wheels come off and we are now in punditry face saving mode?
    I think the manipulators have wound up in the deep end of a derivative unwind and are flailing for a financial life jacket,

  16. On June 4, 2012 at 11:16 am,
    ART says:

    BIG AL


  17. On June 4, 2012 at 11:44 pm,
    Conservative Canuck says: