Kitco Radio – Wed 20 Jun, 2012

Wednesday’s Kitco Gold Commentary

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Al KorelinGeorge Brown

  1. On June 20, 2012 at 12:37 pm,
    Marc says:

    Big Al,
    I am getting the distinct impression that the global economy can and will deteriorate until “the cows come home.” But, it comes down to one man. Ben Bernanke is the primary mouth and driver of precious metals. That sentence is absolutely absurd. Because gold/silver really should respond to ONLY the current absurdity of the macro environment. WHY and more importantly, HOW does one man now determine this market? Do we have to singularly rely on the FOMC meetings as a “yardstick” of an economic pulse of lack thereof. George Brown says what will be our MANTRA for months and years to come. It all comes down to the printing of money – print money and finally….print money. I guess that I am WAY TOO MUCH of a realist. This is absolutely the paved road to financial oblivion.
    Finally, Bernanke kept saying that since 2008, they, the fed, has been using non-conventional tools, as opposed to the standard operation procedure of lowering interest rate (.25%, h__just make it 0.00% would ya!) but, that LOOKS like they would just be giving money away! – they are, duh!) Anyway, they have fired their LAST bullet that doesn’t say QE (direct “ass”et purchases) – another extension (and last) – go back to the meeting – he said this is the last OT – indirectly). Next up – QE 3. All the fed did today was buy a few more weeks of “watching the “financial bow” of the global economic ship submerge precariously more UNDERWATER.
    I am telling all you folks here – all that is left is QE3, QE4, QE5…… infinity. Jim Sinclair has and has always had it right!!!
    Got gold and silver.
    Marc Payne

    • On June 20, 2012 at 1:19 pm,
      Jerry O^OTB says:

      Marc….I have to agree with many of your points….
      I too , see they can hold the rates down , just so long, until the savers run out of money, and have to go out and try to borrow just to live…..AT that point…..the lender is going to start charging higher rates…..just, like Spain is forced to pay 7%…
      This is a game to drain all the savings out of anyone with saved money….and finally make them the total slave…..just as in the bible says….
      This is a time to keep some cash….”keep your power dry”..
      The risk , reward of these cheap rates is bull….
      Gold is going up….and it will be more than 50%..

      • On June 20, 2012 at 1:31 pm,
        Marc says:

        Very much agreed – Jerry!
        All the best,

        • On June 20, 2012 at 1:45 pm,
          Jerry O^OTB says:

          Marc….by the way…..I emailed Irish….yesterday….have not heard anything yet…
          I will keep you posted….best….ootb jerry

          • On June 20, 2012 at 2:44 pm,
            Bobby says:

            jerry, please email me at

          • On June 20, 2012 at 3:19 pm,
            Marc says:

            You two make quite an intelligent, humorous pair…I hope he is ok. Thanks.

          • On June 20, 2012 at 4:12 pm,
            Bobby says:

            Jerry, sorry the correct address is:
            Thanks, Bobby

          • On June 20, 2012 at 4:22 pm,
            Jerry O^OTB says:

            Bobby….you should have it now…..

      • On June 20, 2012 at 2:52 pm,
        Big Al says:

        Of course In the Box, “THE BORROWER IS SLAVE TO THE LENDER”!

        Big Al

    • On June 20, 2012 at 2:56 pm,
      Big Al says:

      HI Marc,

      As I have said, tear the house down and rebuild it or continue to print.

      Big Al

      • On June 20, 2012 at 3:15 pm,
        Marc says:

        A resounding,yes, Big Al,
        Tear down house (Reset, reboot) or continue to print…that pretty much sums it up perfectly….perfectly.
        All the best,

  2. On June 20, 2012 at 12:46 pm,
    Dai Uy says:


    Another dumb question moment…………………

    I thought that the Fed was independent from either the Administration or Congress so if that be the case, how can the Administration direct QE or any other stimulus?

    It is hard to disagree with your guest except perhaps on timing. If anything, I see PMs staying at present prices or going lower for some time; at least until after the election or perhaps even next Spring.

    • On June 20, 2012 at 1:43 pm,
      Jerry O^OTB says:

      Dai…..your question is not dumb…….THAT IS WHAT THEY WANT YOU TO BELIEVE…
      GOLD is manipulated….you know that…..if you have been on this site for over the last 6 months…that comes up over and over again….
      Gold is not going anywhere until after the election….because of the manipulation of the adminstration….and bankster….but, if you go away and come back in JANUARY OF 2013…..YOU will not be buying and gold at 1600…you will be paying over 2100…
      Beside this is call the PRESIDENTIAL CYCLE OF INVESTING…,,,there are some good
      artical written back a couple of years ago….look some up and do some reading, this should help you feel more comfortable….getting past this period……

      • On June 20, 2012 at 2:51 pm,
        Big Al says:

        Great point In the Box!

        Big Al

        • On June 20, 2012 at 3:20 pm,
          Marc says:

          Ditto…….Big Al, ditto…that!

    • On June 20, 2012 at 2:54 pm,
      Big Al says:

      HI Dai Uy,

      The Fed is theoretically independent of the administration, but remember that the majority of the Fed Board are appointed by the administration.

      Big Al

      • On June 20, 2012 at 10:44 pm,
        John W. Robertson says:

        Al is right again. Bernanke was “nominated” (decreed) by Bush, and re-nominated by Obama.

  3. On June 20, 2012 at 1:15 pm,
    Tex says:

    Seems logical for bullion, but what of the mining equities? Could it be that gold itself is all that glitters while the equities are but the quintessence of dust?

    • On June 20, 2012 at 2:53 pm,
      Big Al says:

      HI Tex,

      I am certainly not suggesting what you should do, but I am buy certain select mining companies.

      Big Al

  4. On June 20, 2012 at 2:36 pm,
    Karen says:

    Hi Tex,
    Once everyone demands physical instead of paper the mines will be working around the clock.

    • On June 20, 2012 at 2:46 pm,
      Big Al says:

      Hard to disagree with you, Karen!

      Big Al

      • On June 20, 2012 at 5:33 pm,
        Tex says:

        The key is undoubtedly to be ‘selective’ in the equities one purchases.

        • On June 20, 2012 at 8:22 pm,
          Big Al says:

          All I can say Tex is, AMEN!

          Big Al

  5. On June 21, 2012 at 6:57 am,
    Dennis M. O'Neil says:

    Looks like the Supreme Court is about to make some significant rulings.
    The suspense……..

    • On June 21, 2012 at 7:27 am,
      Big Al says:

      Morning Dennis M,

      How do you think it will turn out?

      If it goes against the administration that would show me that democracy still works.

      I would like your opinion.

      Big Al