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Captain
For those bragging about going all in and berating those who are roe cautious and analytical.
You would be advised to read this. If IMF cancels the debt, our gold price would probably go back to 200 bucks.
Do not take this lightly, the alternative for them is disaster. They very well could cancel the debt of bankrupt nations…
The entire argument for gold as a hedge could disappear in a heartbeat.
AL maybe your guests could comment…….
IF and its a big if, the argument for owning pm’s was reversed then so be it…short the H out of it because the “Chicago Plan” solved all the worlds debt issues.
Why is it when anyone mentions they own an investment in pm’s everyone goes out of their way to highlite its dangers…..its a bull market trend and I for one don’t care what the investment is just the trend….a 12 year trend I’ve been riding….when it ends short it….works for me, you?
JJ, you’re on fire! I too love gold and silver now…. cause they’re in a trend. Although, you are well aware of the other practical reasons for owning gold as “money” to be exchanged in a different/new currency system if that is your hedge.
We go out of our way to highlight the dangers???
Where have you been for the last year/? Google and Apple? I was…..
And for the record my family has owned gold for 200 years… I have more physical than all of you combined and it will never be sold or used unless I have to bribe the concentration camp guards… That is the real use of it BTW>
But I am aware enough to know when the trade is over. It is not over yet but it is very close to being over. Many of you make light of the Chicago Plan, I would advise not to. This flag is being waived for a reason…. If you don’t understand that then good luck to you…
The trolls rule here.. Time to move on..
Happy Black Swans to you
kp01 HELLO……What trade are you referring to ?..What do you think we should be doing right now ? I hold physical silver , do you think thats a good thing. I would appreciate some feedback …Thank You……Tony
KP,
200 years,…excuse me you are a puppy in the history books….I will take the 5,000 years track record for gold over your discourse any day.
BTW,
KP, you are MISSING a vital important piece to the global puzzle:PETROGOLD…that TRUMPS any scenario you and your 200 yr gold family can conjure up.
All the best,
Marc
Thanks for the comment.
My grandparents survived the Chinese Revolution because of their gold (and diamonds) by the way.
You made some good points, by the way!
Big Al
Of course, jj!
Big Al
Interesting link, written in a way we can almost hyper-hear the author gulp (or make other strange noises)
The last paragraph sums up the relevance of this theory :
One thing is sure. The City of London will have great trouble earning its keep if any variant of the Chicago Plan ever gains wide support.
I think thats is a good point KP, it is possible the debts are all, forgivin.
It is also a possibility that gold is revalued. Either fixes alot of things.
But thats just it, who the heck knows what will be decided on?
As far as I am concerned Rothchild and Builderburg are late on giving me an update.
There is no way you can cancel debt it must either be paid by the borrower or the lender period. DT
Your right DT of course, but what people generaly mean when they say “cancel” the debt, is the lender loses, his fault for lending to an entity without the ability to repay.
IMHO, you are incorrect…gold would then come to the FOREFRONT of the monetary system and take its rightful place as the ANCHOR for a redistributed currency……those would out gold would be woefully weak in “anchored” purchasing power. Anyway, that is not an option for a banking collapse would transpire with massive contagion like the “BLACK PLAGUE” of the financial world.
KP,
I agreed with an earlier comment of yours that gold should be a trade…that’s exactly what it is for me, albeit a long trade. However, cancelling the debt of various nations is arguably highly inflationary, as the replacement currency will be heavily devalued…that’s actually positive for gold or other hard assets.
Cancelling debt can work if you’re Argentina and have a decade to wait before trade partners are willing to normalize their exchange rate with yours. If the EU did that, or the US, the new currency used tomorrow morning would probably drop 90% in value compared to the value today.
Hi kp,
Interesting point, but I have to disagree.
I will discuss this on the upcoming Weekend Edition.
Big Al
Almost zero chance of that happening. I would not base my investment decisions on something that has a less than 1% chance of happening. Banking elites have all the power.
The Rothschild family giving up its power in other words? I highly doubt it….the Elites have been working on this since before Cecil John Rhodes ( google him) and they have the technology now to pick up any conversation in the world…911 was a controlled demolition and an inside job (I know this will offend some, but check youtube and there is plenty of testimony) and it was done so tbe elite could envelop a stranglehold on the free world and gain control…why do you think no one in the controlled media have proposed writing down the world’s national debts? Very well paid talking beads where we used to have independent media…now in Canada Gata is not allowed to be mentioned on TV …Im sure we would all pprefer to live in a free world with free unrigged markets, but we are doing what we can for ourselves under the circumstances….qe for at least 3 more yrs and then we’ll see.
Got out of the gold bullion bank business in 2004.
They have been seeking their gold to the public sense. Who do you think is going to be the bag holder? YOU!
“WHAT” !!!!!!
paper or plastic?
Since when is GATA not allowed to be mentioned on tv in Canada?
Big Al
We should be carefull, does that mean we should not be in the market?
Should sell PM stock and wait for “the crash”?
I always find “be carefull” dificult to understand, a cautious person would not have owned stocks of any kind for the last couple of years I think.
I don’t agree benb.
I am pretty cautious, and I have invested over $100K in the markets (resource) in the past year. Will I be a looser? Maybe. Will I be a winner? I am betting on it!
Big Al
Well were down another $20 buck todays. Can we say we are getting crushed yet? Lets face it everyone will have to endure pain. The stock markets are set to roll over. You can have everything in cash right now and look good, but ultimately that won’t be worth the paper its printed on.
CRUSHED!!!!…James you give me the giggles…Gold is down from its recent highs at $1798-$1706 this am’s low a whopping 5% !! if thats getting crushed well I’m speechless..1) October as history has shown provides a high then a late month low before the best gains of Nov-Dec 2) its a two day fed meeting and you being a 13 year gold investor I’m sure by now know the US$ does not tank in the background during fed meeting nor does gold rise heading into these Fed dates
My Fav silver stock to trade First Majestic is down today 4% from its highs 4% !!! and the bellweather SLW is down 3% !! from its recent high which was Monday….
Here is a web-site thats a free hand holding service from the best in the business the guy that has called golds trend correctly for 12 years, read it and relax…breathe…
Have a good day and find a new word better suited for a 5% retracement otherthan Crushed???
Don’t worry JJ, stocks will “soar” a whopping..wait for it…2% tomorrow! Now that’s SOARING!
November is the strongest month for gold not September. Nov. to Feb is usually strong.
Amen, The Greater!
Big Al
For the first time Roger has said nothing will happen with Gold until AFTER THE ELECTION…Wow I’m impressed. I have only been saying that since like June .
I agree with you Rog..good analysis
JJ- I’m glad I am giving you the giggles! Glad to see someone is laughing today. I didn’t say we were getting crushed. I asked if I could say it yet. Let me know when. But why are you using the recent highs? Why not look at the all time highs? Gold is down 10% from its all time high, which is no big deal. However silver is down 33% from its March 2011 high. I think that is crushed. I look at the big picture. You might say then I am contradicting myself – because the 12 year trend is clearly up. However the last year and a half it is gone no where. And that isn’t short term. The recent highs are not my base line.
Gold has had every reason to take out its all time highs and it hasn’t. QE to infinity. Negative real interest rates. Geo political uncertainty. Clearly we are in a deflationary death spiral. Everything wants to tank, and the Fed, government and Banksters can’t stop it. No one will be immune from the pain. Hopefully with gold it won’t be as bad as other assets. I will try to come up with another word than “Crushed”
Ahh your a good man James…we come from completely two different views and I find it interesting being that we are both lomg term pm’s investors.
Buying gold and silver bullion back in March 2003 and adding along the way anytime gold trades below the weekly 34ma is how I’ve built my core position and I trade FR.to the fact silver is off 33% barely shows on my radar screen, yes 33% is painful but I didn’t buy at $49+ so I’m looking at the action from a position of strength not weakness….for all thos e long at $49+ and $1900+ ouch….but I will say anyone long at those levels have the bullish looooong term trend behind them and those highs will be taken out, thats the benefit of buying incorrectly within a bull market. ….James I’d be lying if I said the action in the pm’s since QE3 announced isn’t a head scratcher….but I wouldn’t be shocked if the Bearnank whispered the need for an adjustment in the $40B as QE3 has already not produced the reaction the Feds were looking for….I’d be alot more concerned if the US$ was trading above 83.50 which is where the trendline is in place since the June high at 88.71 2010…its not its being capped just above 80.00 and often thats where the sellers will sit just above the figure = 00
I don’t and never have measured the bullishness of golds move from its recent highs I look at the monthly action….James put up a 12 year monthly on gold…todays action is a mere blink
Have a good day!
JJ – There is a chance, although I think slight, that Bernanke could adjust his 40B upwards, as many at the FED and the Keynesians thought it wasn’t enough anyway. The problem I think is it still won’t have the desired effect. On the contrary it could send the markets even lower as it would be a clear signal that they have lost control, which we all know they did a long time ago. Stocks and gold would sell off. When the smoke clears and the $ confidence spirals out of control then maybe people will realize fleeing to the $ as a safe haven was like entering a burning building. You have a good one too!
Anybody notice when the DOW rallies gold stocks tread water, but when it sells off the gold stocks sell off?
Gold stocks are not investments, especially explorers. In previous gold rushes it was not the miners who got rich, well a few did, but the shop keeps.
Buying gold stocks is like being the 49er and not the shop keeps.
http://www.kereport.com/2011/07/08/big-als-equity-position/ calculate how much this portfolio has declined since June 2011 when it was posted. Find out how far you have to go back to break even?
check out ppp a triple and then some in the past 3-4 months…and big news today
I picked up ppp warrants in the spring and am up about 7 fold as of today. Even today they closed up 15%. The point and figure chart shows a target of $17.75 -which I think will be achieved sooner than anyone thinks. It would still be trading under 3x book at that price. The warrants would rise another 5-7 fold.
Nice trade.
Not exactly a triple at this point. Closed today at $0.16
Big Al
Hi Al,
We’re talking about PPP on the NYSE not V. Primero Mining closed at $7.43 today.
Gold stocks ARE investments. If you aren’t a great stock picker, stick with a gold mutual fund or an ETF. Since the entire duration of this bull market, the $HUI has outperformed gold by 2:1 (~35->488 w/o factoring in dividends vs ~250->1710). Junior gold stocks are too volatile for most people so it’s best to stick with a diversified portfolio of small/mid/large cap explorers/producers/royalty companies.
Gold stocks have actually outperformed conventional stocks since mid July and I think they will continue to do so. Gold and gold stocks have been forming a cup and handle/W-shaped bottom/bull flag/basing pattern (insert your favorite technical term) and look to be heading higher within the next few weeks albeit we may head lower short term.
Most of the royalty companies have hit all time highs or 52-week highs this year so I think it’ll be prudent to take some money off the table and put them into some of the battered miners. There are still terrific values out there.
And you, Anybody, are absolutely correct! I cannot deny that.
This time, (past year) I am doing better.
Your point about the shop keepers is very well taken, my friend.
Best,
Big Al
I cant say that even 1 of those stocks crossed my radar screen. There are alot to pick from out there. I am up a little bit on some I own and some are about even, or down a little. And some I own I figure are free cause I doubled, tripled or better and kept half.
You might be right about other shares instead of gold shares, but what can I say? I like gold, I would rather find a gold ring on the ground than trip in spilled oil.
One day I hope to fill a chest full of gold, make a map, bury it ( on an island) give my grandkids enough clues to interest them, figure out the location with them,then go out and dig it up with them. Looking at their eyes when they open the lid will be pricless. Now THATS value, try that with grain or fish or broccoli or zinc or pieces of paper that says you own somthing, just not the same thing. That idea is as good as gold, course thats an old expression, wonder why people say that?
I have been looking at gold charts recently and it seems like the current correction (2011-2012) we are having is similar to the one in 2008. This is clearer on the monthly chart. Here’s my roadmap ahead (I’m not a cycles guy so please take this with a grain of salt): Down in Oct, with a rally in Nov, possibly Dec, down into Jan ’13, and a multi-month rally after that. Some cycle analysts that I follow are also calling for a Jan low so let’s see if that takes place.
I have been short the miners since the beginning of this month and have covered my short today and began nibbling on some beaten down miners. There’s a good chance the low isn’t in yet and that we may take out last month’s low on the GLD (163.66) before putting in a bottom, which I think translates to a spot gold price around the $1680s. This also happens to be a major support area.
I like the diversity of opinions on this site and mixed together with civility makes for a good combination. If everyone thought gold & silver were the cat’s meow I’d be getting plenty nervous.
Within the last 5 trading days I bought more g&s and also a restaurant company with 6.5% dividend yield.
Diversity is what it is all about!
Big Al
Traderrog caught of dilly of a cold but will try to do a market trends this tuesday with a creaky voice. I will continue this daily with Big Al until Let Us Trade Radio begins. Trying that new show for later this week voice permitting. Meanwhile Rog and Al will continue to do editorials on the KER website to infinity – Traderrog
Wavelength Publishing
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Well Roger if the Bernank read your article I’d say Wed he’d be announcing an increase to the $40Bill monthly purchases….the S&P is flatlined right back to the announcement of QE#3…. the Captian of the PPT needs another fix!
http://www.kitco.com/ind/Wieg_cor/20121022.html