Currency expert Sean Hyman discusses gold.
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Thanks for the kind words Eugene,
Looks good now, but no one can foresee the future.
Best to you,
Big Al
OH BOY!!! How about this prognostication?!!! Greyerz here in this KWN link says with extreme conviction that gold is headed to $4500 within a year.
Al, would you tend to agree?
Another excellent interview on KWN is the John Mauldin interview. He is much more of an optimist generally – he thinks the US can get itself out of the hole, with less government. He thinks the US could be the justifiable strong world reserve currency if it fixes its problems. He’s a very civilised and likeable person to hear and to read. I can’t remember how long ago it was when I first read some of his commentaries – around 2002 perhaps?
What a fantastic close for gold and silver – closed right near the weekly highs. No correction of any magnitude yet in 5 days. Is this rally short covering or accumulation? Or is it just a Euro rally and weaker dollar? Tom Fitzpatrick on KWN says the Euro might fall to 90 cents against the US dollar sometime. WIll gold and silver rally as the Euro falls? They should – but that would be a different dynamic from hte last 11 years (except for a short period in mid-2010).
It is about time for gold and silver rallies I have been getting depressed (really) and this is the one and only thing that stands a chance of cheering me up right now.
IMHO, and with all due respect to Maudlin’s optimisn, we are MATHEMATICALLY past that point….the ‘titantic’ of an economic/financial conundrum!
Marc
BTW, SBDave,
I also thought and was extremely encouraged by the closing numbers today, Harvey Organ was expecting a raid! DIDNT HAPPEN!
Morning again Marc,
I do agree with you on this.
Big Al
Evening SBDave!
John Mauldin is not the only one who has been stating this. Porter Stansberry has also been saying this for nearly the last year. There is a lot of truth to what John Mauldin says but the key issue is: can our government REALLY do what is necessary? We all know how government usually does the opposite of what is necessary, so the chances of what he promotes is a little far fetched at his time. Who knows? The future will tell us.
stay frosty
Dave – I’m sure Mauldin is a very intelligent gentleman, but when he said “I like to see the Fed remain independant”, I had a big laugh. As if this organization is independant. Unless he meant he likes it to be independant of the best interest of the people that tolerate its existence out of ignorance…
Anyway, it just always surprise me to hear otherwise intelligent people make such statements and expected to be respected for them. The blindfolds don`t come off very easily I guess.
Morning Silverbug,
The next 30 days will be really interesting!
Big Al
I do not think $4500 in one year will be healthy…..,that would be to bubble like, and we will see the same thing we saw, with the run up in silver….PARABOLIC MOVE….
Morning Bart,
I think that $4500 within a year is a bit optimistic.
Keep in mind that I am not a headline seeker just a person who believes in diversification and certainly hard assets have a place in our portfolio.
Common sense always beats seeking glory! At least that has been my experience.
Big Al
Hi Al, I don’t know whether Sean Hyman is the guy to ask but you tried to touch on the subject of a new World Reserve Currency, backed by hard assets but it seemed to get lost in the interview. The system that we currently have is broken and something will have to replace it and that day could be very soon.
I believe there are not enough people addressing this concern in regards to what form it will take and how currencies from around the World will react to it when it comes to international trade. I think that the easy part will be backing this new currency with hard assets and/or a combination of precious metals but the difficult question for me is how will they work out trade payments between countries when goods are bought or sold and how can this new system be designed so that all countries must comply equally to it’s rules.
Morning again Machine Gun,
Great thoughts on your part.
Off the top of my head I would guess that those that have the hard assets will have the currency. Seems to make sense to me.
Big Al
IMHO, spot on…Sean..SPOT ON!
Just a thought but maybe Jeff Deist From Congressman Ron Paul’s office would be the lynchpin here, certainly they have mentioned a number of times that The US of A is in jeopardy of losing their World Reserve Currency status and they want to end the FED so they must have some weighty ideas of this subject, maybe you have already discussed this issue at length and I simply missed reading about it. There are only so many hours in the day and I must go out and bring the good fight to the gangsters, by for now, DICK TRACY.
Just sent off this e-mail Machine Gun:
Just a thought but maybe Jeff Deist From Congressman Ron Paul’s office would be the lynchpin here, certainly they have mentioned a number of times that The US of A is in jeopardy of losing their World Reserve Currency status and they want to end the FED so they must have some weighty ideas of this subject, maybe you have already discussed this issue at length and I simply missed reading about it. There are only so many hours in the day and I must go out and bring the good fight to the gangsters, by for now, DICK TRACY.
By the way, just ordered a Ping G-20 three wood. I think that it is going to be great.
Game going well, how about for you?
Best to the family,
I can only say I am enjoying myself to the absolute upmost these days, if you get a chance , I just sent you a message concerning the awning, Bye for now DT.
Just read it and responded. Thanks, my friend!
Big Al
I hope it’s not just because I agree with him, but I think Sean Hyman speaks with an admirable degree of clarity. I hope you have him on from time to time ot update his views. Thanks for the good work you keep on doing, Big Al!
Big E,
I actually thought the EXACT same thing when he spoke. I WHOLEHEARTEDLY agree!
Marc
DITTO!
Morning Big E,
He will now be on the show every two or three weeks.
Big Al
Thanks,Tex.
If Mauldin did actually say: “I like to see the Fed remain independent” then I do not need to hear the audio.Actually,I do not want to hear the audio,if that is the case.
Thanks for the good job Al. Its nice to see Gold take off like you guys have been telling us. May God Bless America.