A Canadian’s perspective on the upcoming U.S. election
Click download link to listen on this device: Download Show
I am very afraid of Ryan. He voted for all the Bush deficit items: Unfunded wars, medicare drugs, etc etc. He looks like an opportunist who now is preaching to the chorus.
The man to be very afraid of is the none who spent more US debt that all of the last 41 presidents combined.OBAMA if elected will bankrupt the US.Beware the fox in sheeps clothes.
What do you mean Obama has already bankrupted us. http://moneymorning.com/ob/economist-richard-duncan-civilization-may-not-survive-de… I don`t think anybody that has ever visited this site would ever vote for Obama unless he/she were a total fool. Though occassionaly some dumb liberal has ventured here from time to time.
Pretty scary stuff.
I recommend in good faith and cadonr that you read everything Krishna Guha writes daily about the Federal Reserve in the Financial Times of London to learn more about the current debates raging inside the FOMC. For example two members, Dallas and Philadelphia, opposed the size of yesterday’s cut. This is very newsworthy, but it was woefully underreported in the US press.Read the FT. And stay tuned to this channel for weekly updates.Matt
Morning Anil,
The Financial Times is a very good publication.
Thanks for the input,
Big Al
Don’t be too afraid of any VP. Unless they need to become POTUS, the veeps just usually attend birthday parties and school sing-a-longs.
James….. read some articals, from James Turk, Sinclair, KWN , etc…..GOLD IS NOT GOING ANYWHERE BUT UP…..
Romney and Ryan,do not have a silver or gold bullit, the deficit is to large, and that does not include the world deficit…..The next election is just a dog and pony show…
The budget can not be balanced, without a lot of welfare people getting upset, there is just to much entitlement, and a person on entitlements is a voter…..check back in two years and see what gold is …….I will say well over $2500
Just my two cents worth…..
Probably a bit higher than that In the Box!
Big Al
Gold has to come down, and it WILL come down. $450-500 range is good for gold and world economy. Check back in 2 years and see who is right..
I think you are very incorrect on your gold forecast.The world wide average extraction cost are around $650 who in the hell is going to sell it for $450?..Thats a good way to go out of business
Thanks James Flannigan!
Big Al
SILVER FOZ…you can sell me all the gold you have at $500, better yet,I WILL GIVE YOU
$650
JEEEZ twilight zone comes to mind. SilverFox, what do you base your statement on? Why is $450-500 range good for gold and world economy? Just askin.
Hey, after the USD is re-valued after financial armageddon, $450 sounds about right.
It’s really relative, isn’t it John W!
Big Al
The thought that gold would hit your $450-500 dollar range is insane the operating cost of producing mines are way beyond that price per oz. ratio. In South Africa where gold/platinum mines are, could never survive at that price differential. An article came out `The threat of Africa`s largest ever class action looms over SA mining` http://www.mineweb.com/mineweb/view/mineweb/en/page68?oid=147678&sn=Detail this is the problem with all the labor strikes of the workers aimed at mining in SA plus half the platinum mines are at a loss-making average to marginal and the industry as a hole depends on not just platinum but gold mining with its hazards as well to survive. If South Africa wasn`t part of the mining sphere because of labor unrest the price of these metals will soar.
Okay, I am sure that we all will.
Big Al
James Turk and KWN decides the price of Gold? How do you know gold is going up? Complete ape manure ..
I read comments like this on korelin and makes me wonder the investment IQ of folks who listen to Al. Gold bugs having an IQ of bed bugs..
Silver F……I noticed that you failed to mention Sinclair’s name…..do you think he knows anything about, silver or gold…..?
silverfox………..so gold bugs have an IQ of bed bugs………slightly higher than your’s…..then !
ditto….Irish…silver fox…needs to change his name to silver faux…..
Yes, we should let the the Canadians vote in our national elections just as the Mexicans do. After all, fair is fair. What’s legal got to do with it???????
I have read numerous reports regarding the average cost to produce.I believe it’s more like around $900+ and rising 10% yearly
Let’s see-Obama adds five trillion to the deficit in one term but Silver Fox wants to establish a gold price of $450.00. Silver Fox ,your words have about as much credibility as Obama’s of four years ago ” Raising the debt is unpatriotic”. Gold has to come down,just like the deficit.Pluck Yew,Silver Fox.
Matt,,,,I hope Silver Fox, has been here long enough to have read the great artical
“Pluck Yew”,,,a very historical document….I believe posted by Tex….and initiated by
our Foreign partner Irish the Rouge…or was that Irish Rose….
We the people need to shut down Goldman Sachs and seize their astses. The time to act is now. Infiltrate their systems and destroy them from within. Stop being good little sheep and make the government fear the people.To learn more, read Rolling Stone, issue 1082/1083 July 9-23, 2009 The Great American Bubble Machine by Matt Taibbi
Thanks for the tip Syed,
I will read it.
Best,
Big Al
On July 3, 2008 — the day before Independence Day — Obama said “driving up our national debt from $5 trillion dollars to $9 trillion is irresponsible. It’s unpatriotic.”
Have followed Al for a long while now, but after reading the shallow minded of those making comments I am leaving. After 40 years with IBM, GE and my own company, I don’t think any of you have an idea of what you are saying. Maybe no one does, but those I read (Sinclair, Leeb, Barron, von Greyerz, Embry, Turk, Celente, Rickards
Sorry to see you go, Wyn.
I personally feel that everyone is worth listening to.
Best of luck to you.
Big Al
Hi Wyn,
Sorry to see you go. I have appreciated your many good comments. I agree with Al that everyone is worth listening to, right, wrong, or other. I get frustrated with things from time to time. When things don’t go as I think they should, or not according to my time frame it is easy to get thouroughly irritated. Take a break if you need to, as I’ve done on occasion, but don’t forget to come back and join us. We need your input and you need ours. No man is an island unto himself.
Best to you,
Mike knows Carlos slim isn’t truly the world’s rihcset man. But Mike does know Carlos Slim is the world’s rihcset man who has their net worth public. There are trillionaires in this world. If the masses knew that, and if they knew who they were, there would be revolution by morning.
Hello Karim,
You could very well be correct.
Big Al
MISTAKE….DIDN’T FINISH………..THESE ARE A FEW FROM THE US, EUROPE, ETC. THAT ARE KNOWLEDGEABLE ENOUGH TO GIVE AN EAR TO THEIR INDUSTRY WISDOM. NONE OF YOU KNOW WHAT YOU ARE TALKING ABOUT….NONE OF YOU KNOW ANYTHING OF THE LIBOR PROBLEM, THE FED’S 2.5/T BAILOUT OF MUTUAL FUNDS…THE ECONOMY IS ON ITS LAST LEG AND YOU ARE BLABBERING ABOUT 450-500 GOLD OR WHATEVER. I THING EVERYONE OF YOU SHOULD SELL YOUR GOLD, SILVER AND RELATED STOCKS IMMEDIATELY AND GO HIDE IN A HOLE SOMEWHERE. THIS COMMUNICATION HAS LESSENED WHAT THE KE REPORT IS ALL ABOUT….GOODBYE WITH MY BULLION AND STOCKS.
wyn
wyn….you did not read all the comments……I suggested the reading of the names you mentioned….I shall stick around , until the “FAT LADY SINGS”, IF YOU GET MY DRIFT..
wyn, I have been re reading you comments….and in all fairness to Al, if you have been here long enough, you should have chimed in and contributed you portion to the conversation, and supported the argument for higher prices, considering you have read KWN, SINCLAIN, AND THE REST OF THE GOLD BUGS….
Al’s site gives you the ability to support, and contribute, where the others do not….I just do not get it when you guy run out so quickly , with a little bit of contriversy
That comment, In the Box, is why you will never be “out of the box”!
Big Al
JerryO^OTB,
Great point! I agree completely.
Best
woewsodnn yeshineh Posted on Dear sir/madamMy name is woewsodnn I am from Ethiopia (third world country).I am graduate from one of governmental institution, namely university of Gondar by applied chemistry (BSc) and now I am following my MSc by organic chemistry at university of Gondar. Dear sir/madam if any vacancy available in my position or related field please gives me the opportunity to change my self as well as to serve my country with batter knowledge.Thank you
The price of gold seems to evoke a visceral reaction here. In my understanding economists always want the lowest possible cost to extract/harvest a commodity to be that commodity’s “fair price”, claiming psychology and false perception raises the price higher than the “fair price”.
These economists (and their followers) are missing the point: the price of gold is not just how much it takes to get it out of the ground. Gold stands as an alternative currency to the fiat dollar systems. The more dollars, the less they are worth relative to gold. So the price of gold is [how much to extract] plus [relative to other currencies]. It is this second amount that is adjustable and subject to manipulation by the central banks. If the price of gold drops to below what it takes to mine it, the miners stop producing. If the price of gold does not accurately reflect the amount of fiat currencies as a measuring stick, then there must be misinformation and manipulation. This ignorance provides a buying opportunity until the price corrects.
Also, the “fair price” to one miner is not the same extraction price to another miner. Thus competition in a fair market does drive prices down. But we are not in a fair market, and gold does not accurately perform as the anti-dollar. Gold should theoretically be a higher price the farther you get from the mine/smelter, and vary in country to country according to their fiat currency. We are not seeing that in our US dollar-dominated world today.
I would have to agree jhpace1.
Thanks,
Big Al
To be fair to Wyn,Silver Fox is an agitator that provides nonsensical posts that are very irritating.jhpace1 has got it.
Gold is and silver are the accepted currencies to fiat-world wide.
Either you understand history and the British /American /Fed fiat control system or you fall into the hands of believing a Fed lackey like ‘Silver Fox’.
GREAT POST….MATT…
Evening Matt,
Oh, I don’t think he is a Fed lackey. He certainly does not agree with us and that is his right.
I certainly don’t agree with him!
Big Al
Matt,
Excellent comments. Your statement, “Gold is and silver are the accepted currencies to fiat-world wide” is IT in a nutshell. Well put!
Best
Al,when the World’s Reserve Currency has been debased to the point where it’s usefulness and longevity is in serious shape there is a fiat monetary crisis developing.
Suggesting that gold should fall 1600 dollars from the 2,000 dollar top while adding five trillion dollars of US fed note debt per US Presidential term is comical.
Either ‘Silver Fox’ knows nothing about fiat or he has an agenda.
When the USD is taken out as the World’s Reserve Currency,the US fiat rebirth has to then be recreated with the historical Federal Reserve Gold Certificate Ratio as the basis of the reconstruction.So,in actuality,the price of gold has to rise to exponential levels on the basis of Federal reserve created debt/AKA a USD/ Fed note.
Research ‘Federal Reserve Gold Certificate Ratio’ and get back to me,Silver Fox.
“Gold has to come down, and it WILL come down. $450-500 range is good for gold and world economy. Silver Fox
Sorry,Al,caught up in a tizzy and forgot my manners.
Top of the morning to you!
http://www.silverbearcafe.com/private/coverclause.html
http://www.kitco.com/ind/Sinclair/jan312003.html
Just getting to commenting a little late, but Rick’s cogent answers are more than just a “Canadian” perspective, but the perspective of an informed person in the industry with a good understanding of markets. The remark about permits drying-up in the year before the election — while obvious after hearing it — was interesting.
Posted on Bruce and Marvel Girl! You guys are in my brain!I have a T-shirt with Born to Run’ lyrics on it that I tend to wear to comic cons. I’m not sure if it’s a rllaey, I’m cooler than this, I like the rock n’ roll music too! thing or an acknowledgement that we’re all geeks for something. More likely the latter. And seriously, the first person I ever saw use the word fandom’ outside the Internet was Nick Hornby.
From an investment perspective I don’t think Romney and Ryan are good for gold. A Romney Ryan win might be getting priced in, could explain why gold is not performing as well as it should be on the surface. Every cycle ends and maybe this secular gold bull is ending as well. What are your thoughts?