Al's Insights – Sun 17 Jun, 2012

Greece

Looks like the Euro is safe. Click here.

How does the family think this will play out?


Featuring:
Al Korelin

Comments:
  1. On June 17, 2012 at 2:24 pm,
    the other "big Al" says:
  2. On June 17, 2012 at 2:37 pm,
    the other "big Al" says:

    the article is slightly older than the Kitco article ,however both are saying that their are deep divisions in Greece ,wonder what the markets think.If there is no “financial heroin” ,needed ,then maybe markets will sell off?

    • On June 17, 2012 at 3:03 pm,
      Big Al says:

      Crazy world “Other”

      I would think the fact that the Greeks aren’t overwhelmingly in favor of austerity will bode well for gold.

      What do you think?

      Big Al

  3. On June 17, 2012 at 2:46 pm,
    shawn says:

    If the pro bailout wins it will be like when Truman held up the newspaper in I believe 1948 when the headline read “Dewey Beats Truman”, the victory will be short lived.

    • On June 17, 2012 at 3:03 pm,
      Big Al says:

      I would think you are probably correct Shawn.

      Big Al

  4. On June 17, 2012 at 2:57 pm,
    Mark Alan says:

    I think before anyone, or any government can breathe a sigh of relief, they need to realize some underlying factors. Who better to detail the underlying factors than the wonderful gentlemen from ZEROHEDGE!

    http://www.zerohedge.com/news/pasok-throws-monkey-wrench-coalition-discussions

    It is far from over, and really only just beginning. No bailout would be much better as it would allow the entire house of cards to collapse once and for all. This is just killing the average citizen. We should have let this whole thing blow up back in early 2009. Sadly this is going to get much worse.

    stay frosty

    • On June 17, 2012 at 3:05 pm,
      Big Al says:

      I agree with you, Mark A

      Big Al

      • On June 17, 2012 at 3:26 pm,
        Mark Alan says:

        Afternnoon Big Al!

        Hope you are enjoying the day with your family. I see Mr. Grandich posted my blog on his site! Cool!

        • On June 17, 2012 at 5:05 pm,
          Big Al says:

          Read the article on zero hedge.

          I assume that is okay. I forwarded it to him since you have some very nice things to say about him.

          Again, thank you very much for the kind words!

          You are a great asset to this site. Thank you for that.

          Big Al

          P.S. Great day with my daughters. Thanks for asking.

  5. On June 17, 2012 at 3:00 pm,
    shawn says:

    It doesn’t really matter who wins because the euphoria will be short lived, sobriety will happen soon almost the next day.

    • On June 17, 2012 at 3:05 pm,
      Big Al says:

      I don’t know man. So far the majority has just kept drinking!

      Big Al

  6. On June 17, 2012 at 3:26 pm,
    Mark Alan says:
    • On June 17, 2012 at 5:07 pm,
      Big Al says:

      Yes it is Mark A.

      Thanks for the link.

      Big Al

  7. On June 17, 2012 at 3:50 pm,
    Jerry O^OTB says:

    Way I see it , it is a three way tie……no winner….I guess they will vote again
    in six weeks…..Six weeks gets you to Aug….couple of more months and we are in
    November. Besides that should give Obama enough time to legalize all the Greeks, and then the
    Greeks, 12million strong, can vote for Obama and put him back in office.

    • On June 17, 2012 at 5:07 pm,
      Big Al says:

      Great In the Box!

      Big Al

  8. On June 17, 2012 at 3:51 pm,
    benb says:

    Money printing, should cause gold to increase? a few minutes after spot price posted its down $15.00. Good to see things are normal.

    • On June 17, 2012 at 3:53 pm,
      Marc says:

      Benb,
      My thoughts exactly…makes perfect sense to me! But, then again these markets in totality make perfect sense to me -not! :)
      Marc

      • On June 17, 2012 at 5:10 pm,
        Big Al says:

        So benb and Marc,

        Big drop initially and now starting to come back. Where will this end?

        Big Al

  9. On June 17, 2012 at 4:07 pm,
    Clay says:

    So! Massive Euro printing means stronger Euro, while all of Non-Germany Europe decide Germany must share their wealth and pay for all club med vacations. When are the Germans going to grow some Kahonies and get rid of their worthless politician? Probably never, because the Germans are just like the American Puplavian dogs. Yes I did mean Puplavian, although I could have said Soroian lizards.

    • On June 17, 2012 at 5:11 pm,
      Big Al says:

      This whole scenario is better than a Disney cartoon!

      Big Al

  10. On June 17, 2012 at 4:17 pm,
    benb says:

    Yup, it is all sureal to me, Personally Im going to continue to accumulate.
    The fundementals will play out eventualy. Of course thats only a belief.

    • On June 17, 2012 at 4:47 pm,
      Marc says:

      Benb,
      The fundamentals always play out……unless their is absolute chaos and/or ABSOLUTE totalitarianism, for all you political science pros out there……wrong word?, but hopefully you guys get my drift.
      Marc

  11. On June 17, 2012 at 5:02 pm,
    Clay says:

    Al: The most important story of this year and certainly next year is taxes. Hardly anyone talks about the upcoming taxes which are going to hit all Americans first of next year, an yet people still play the game of investing. Increase tax on dividends, capital gains, income, annuities, rental and the list goes on. Everything that can be taxed and some that can’t will experience increase first of next year. The Obama and congressional budget which is being used but was never approved, is based on increased revenues including increased spending and yet such a projected plan has never happened in history. What history does show with such massive increases in taxes, regulations, restrictions, limitations and reductions on acceptable deductions is that GDP declines and regardless how that is calculated, revenues never go higher than about 20% of real GDP. So if real GDP declines in the US like it did in Greece, Italy, Spain, Portugal, Ireland you name the place, real GDP and total tax revenues to all governments in the US will decline this year and for many years to come.

    People talk about a fiscal cliff coming up for the US, but it is not a cliff it is an economic and political event horizon. A line in history that once crossed the people in the US will never be able to return to the way it once was. How did the Mayan know? Did they know without knowing why? or did they actually know why?

    • On June 17, 2012 at 5:14 pm,
      Big Al says:

      Common Clay, what is the matter with you?

      You don’t seem to approve of paying for other people’s stupid mistakes!

      Big Al

      • On June 17, 2012 at 5:39 pm,
        Clay says:

        Al. Yes your right of course. On the other hand I am sick and tired of paying for my own stupid mistakes.

        The real fact is I am just sick of being tired.

        • On June 17, 2012 at 6:02 pm,
          Big Al says:

          Paying for your own is okay, but paying for those of others that go on and on?

          Big Al

    • On June 17, 2012 at 5:41 pm,
      Keep Stacking says:

      Hi Clay,
      With higher taxes coming, I better buy up my physical PM’s and equities this year. And the Mayan’s stopped their calandar because they were about 900 years into the future and got tired chiping and carving into the stone. Best

  12. On June 17, 2012 at 5:09 pm,
    Bobby says:

    Ok, I am leaning toward, Germany leaving the Euro.

    • On June 17, 2012 at 5:14 pm,
      Big Al says:

      Stranger things have happened, Bobby!

      Big Al

  13. On June 17, 2012 at 5:29 pm,
    Keep Stacking says:

    Hi Big Al,
    My understanding is about 80% of the Greek citizens want to stay in the Euro, but do not want the harsh austerity that goes with it. So it is probably better to prop up a failing economy, that by the way will be needing more and more help, then to let it crash and the country will be in poverty for years. Austerity or poverity. Though choice. Bu the way Greece has state of the art printing presses and can print up Euro’s when know one is looking.. Best

    • On June 17, 2012 at 6:01 pm,
      Big Al says:

      Hi Keep Stacking,

      Have your cake and eat it too!

      Big Al

  14. On June 17, 2012 at 5:47 pm,
    Ken says:

    So according to the big fat Greek election another New World Odor bailout has been accepted and everything is peachy.

    Everybloody will live happily ever after. Yeah, that’s the ticket and Asian markets are up on the news.

    What a sick joke.

    • On June 17, 2012 at 6:04 pm,
      Big Al says:

      And as I write this comment, gold is back up slightly after being down almost $15.

      Big Al

    • On June 17, 2012 at 7:50 pm,
      Marc says:

      Hey, Ken hope all is well with you.
      New World Odor – yep!!

  15. On June 17, 2012 at 5:55 pm,
    Keep Stacking says:

    Hi Ken,
    The major currencys all gaped nicely at the open. Like Big Al says, be diversifed and I can make more money. Best

  16. On June 17, 2012 at 5:57 pm,
    Keep Stacking says:

    P.S.
    The game must go on….

    • On June 17, 2012 at 6:05 pm,
      Big Al says:

      And on and on and on!

      Big Al

  17. On June 17, 2012 at 7:46 pm,
    never accept the terms of service says:

    Brilliant quote I saw recently: “If it wasn’t for Target 2, nobody in the world would care about Greece”.

  18. On June 17, 2012 at 8:31 pm,
    Dennis M. O'Neil says:

    The Greek elections is just another crisis responded to by heavy breathing.
    The death of the Euro is like a reverse Lamaze birthing technique.
    The contraction spasms are coming now harder and closer together but instead of the birth of something everyone is anticipating a demise of the flawed experiment.
    Europe may settle down but not for long and the next crisis will come quick with even more drama. The crescendo will happen in due time. At that point no wil like either Brussles sprouts or Brussles.

    • On June 18, 2012 at 9:43 am,
      Big Al says:

      Morning Dennis M,

      I watched Canadian national news last night and that is pretty much what their commentators said.

      Big Al