Dr. Benjamin Carson’s Amazing Speech at the National Prayer Breakfast with Obama Present
Indicator.
In fairness , i watched Obama’s speech…..One word comes to mind , HYPOCRITE.
OBAMA….THE DICTATOR….kills own citizens and makes his own laws…..,,,
It’s the American Way, The Tall!
Big Al
One more quote:
“Can’t we all just get along?”
Rodney King.
Amen cfs and amen again!
Big Al
Love Flat Tax, but Carson is too simplistic; funny, but too simplistic.
But I loved it just the same. Thanks Al, for the clip.
So who was the mysterious Asian seller that sank gold today? Down $25 and at a very very critical level now. Evans says we won’t have 6.5% unemployment until 2015, which would mean more QE at the tune of $85billion a month until then. Eveyone is now acknowledging a currency war is on. And gold continues to go down? The more they print, the better the $ does, back over 80. Credit rating downgrades have the opposite effect on its safe haven status – they flock to it for safety. The sentiment has also clearly changed these last two weeks as the DOW got back over 14k – stocks are everyones darling again, real estate is great again, who needs gold? For whatever reason, perhaps something I just am not aware of – clearly the price action in gold is now very concerning and needs to be watched very closely.
Get ready for the massacre in Gold prices. It is going down in $1400-1300 range this summer. Good time to take whatever is left with Gold stocks and juniors.
Eric Sprott on KWN says scrpa supply folr gold and silver is way down and coin sales hav been strong, citing these as bullilsh for those metals.
Now he also says that at some point there will be a crash in the USA due to government bankruptcy and they will get 25% overall unemployment like Greece and Spain. He says they ran a 6 trillion deficit in terms of unfunded liabilities last year.
However, such a crash would almost without doubt crash silver, which is heavily dependent on industrial demand.
Such a crash in industrial demand on a western economic collapse could turn silver from an industrial metal into a monetary metal on this event. Speculators will dump the metal if leveraged but the rich and savvy will pick it all up on this collapse – and silver will find its monetary home. The silver will not be available at any price (similarly gold) as Antal Fekete has postulated.
Evidencde for this would be the gigantic physical demand for silver on the price crash in 2008 and on other corrections (lets’ look at January 2013 coin sales as another example perhaps).
However, if we don’t get such a crash but instead get massive inflation straight out of the gate, people who are waiting for this expected gold and silver price crash would be left out in the cold. Jesse Livermore’s “be right and sit tight” applies to current holders of the precious metals but I want to sell some myself here, maybe 1/3 pf my metals, to avoid being clobbered by the possible crash.
Thank you for mentioning the KWN den of bull, boobs and metal fumes right away, it facilitates skipping.
Maybe Silver Fox.
That would tell me that there is much more trouble under the surface that anyone is aware of.
Hope you are wrong,
Big Al
Looked like three entities in London, NOT Asia, to me, taking all PMs down.
Chinese markets are closed this week.
I don’t get it. The market is puking this sector alone, as though everything on the macro stage is fixed and happy days are here again.
I am convinced, The Greater, that there are a whole lot of scared puppies out there!
Big Al
What is worrying to me, is that it is not only bullion banks attacking precious metals, but all commodities. Oil and some grains are also down.
I understand soybeans being down because of expectations of a bumper Brazil harvest, but oil inventories have just fallen.
Short miners, GDX, GDXJ …its easy money.
There is no catalyst in the near horizon that will catapult Gold prices higher.
Too many shills touting the higher gold prices, and its their job as to remain in the promotion business but reality tells you otherwise. Severe downtrend materializing in gold prices.
Silver- the question is not whether gold is up or down vs the dollar, but whether anything fundamental is happening to strengthen the dollar. Clearly the answer is no; quite the contrary. Gold just sits there, and you are correct that nobody should overpay for it. But until the dollar and other worldwide currencies benefit due to some drastic shift in monetary policy, gold will remain a store of value and an inflation hedge. So gold is not really going “down” any more than the dollar is going up.
Jeff,
If you’re in the investing business, the principal rule is – if something doesn’t go up in spite of all the positive elements favoring it to go up..it simply WON’T.
This applies to GOLD very accurately at this juncture.
You can argue all day long about monetary stimulus, worldwide debasement of currencies etc etc. The fact of the matter is, when you’re invested in Gold and precious metals – you’re fighting directly against the Fed. Fed is an amazing and very powerful entity ever created.. this is just the beginning of the grand picture and I’m afraid which will be very detrimental to resource investing in coming future. All the fundamentals will thrown out of the window.
I wish you good luck with your investment.
“(T)he principal rule is – if something doesn’t go up in spite of all the positive elements favoring it to go up..it simply WON’T.”
SilverFox, sorry, but that just might be the stupidest investment advice I have ever heard.
The deep undervaluation of the better miners will not last. Extreme undervaluation never lasts. It goes on as long as it does because of “investors” like you, who extrapolate recent price action to infinity. The miners are currently priced for a much lower gold price. When the market finally becomes convinced that the lows are behind us, the miners will rise very dramatically. Until then, smart money will continue to take whatever shares people like you might dump.
The Fed can’t print gold, and they can’t stop printing their notes; so the gold price will resume its rise regardless of how “amazing” their power is.
Silverfox: You presume too much. Pride always goes before a great fall and the Fed with its associates have already exceeded their abilities to control finance or politics. In the US and most of the Western Nations the rule of law has been corrupted and is no longer a support for banking or commerce.
When fear prompts people to value things that have no value of support like the Feds dollar, they have lost the foundations which build value. No nation or people can survive on nothing but fear and greed, for who will sacrifice when it is needed most?
Time will certainly tell Silver Fox!
Big Al
HEY AL DID YOU READ THE BLOOMBERG REPORT TODAY
THE ASIAN LUNUR NEW YEAR IS RESPOSIBLE FOR THIS WEEKS TECHNICAL REASON FOR GOLD SELL OFF CARE TO COMENT
The Chinese markets are closed. This is not Chinese action.
Hi Chris,
I could not find it. Please post the link.
Thank you,
Big Al
Gold had been in a wedge.
Usually wedges end with a dramatic breakout in one direction or the other.
Sometimes bullion banks try to paint the TA a day or two before the technical due date of some predicted action.
Sometimes enough lemmings follow the head-fake and it becomes real.
I suspect that is what has happened today.
The implication of that would be that we will move sidewards into another wedge until we break out positive.
Ultimately fundamentals always win out – they have to.
Fundamentally one cannot print fake government money and not have real money rise in price and value relative to the fake printed money. That has been a fundamental principle of economics, since man started using shells and beads for money.
Exactly.
CFS, Matthew (Professor),
I double that EXACTLY…and raise you THIS: Thanks for bringing some common-sense from the insanity that I JUST read! Let’s stick to the BASICS of econ 101…this isnt rocket science…..geez…thanks again guys!
ditto……cfs……
The “wedge” I’m most concerned about is the silver wedge. If that one holds, I’m not as concerned about gold. Also, if the silver wedge is compromised on the downside, other major technicals will also be compromised and that would be “uncomfortable”. March is often a month low for the PMs and maybe that’ll hold true again.
How about an interview on Tuesday, Richard.
If it works for you send me an e-mail.
Big Al
Couldn’t have said it better myself, cfs!
Big Al the Fundamentalist
Al.
I am highly, highly impressed by this gentleman’s speech. Can you have him on for an interview?
It is very encouraging to see some still have the courage to stand up and tell truth to power.
I cast a vote against Dr. Carson on here.
While he is most entertaining, I found his speech fluff rather rather than informative/educational.
I gave up watching TV many years ago because I found the content not sufficiently dense of information and I choose how I waste my time, not not patiently allowing people/media to waste it for me.
I watched Jim Rogers the other day, he said he is not buying gold nor is he selling, he thinks its expensive but if it drops he would buy again. Said he is investing in Russia.
I agree with Jim, but I wouldn’t say gold is expensive in terms of dollars, but rather, it’s expensive in terms of wheat, soybeans, corn, copper, silver, etc.
He’s holding rather than selling probably because he knows it is likely to get even more expensive versus everything longer term. For now, I think gold’s real price, not dollar price, could fall for a couple of years.
London markets have closed and up came oil. Although oil initially dropped in sympathy with metals, it is currently up over 60 cents today.
According to statements out of London, the move on gold was due to Draghi speaking out to boost the euro. I do not know if that is true or not.
I would suggest the drop in PMs actually represents a buying opportunity.
I would further suggest all the white metals, rather than gold, represent the best value. I.E. Silver, palladium, rhodium, platinum all have great potential.
It was reported that Russian supplies of palladium to Switzerland were down 72% last year.(the lowest since 1990) Assuming industrial demand to be the same in 2013 as it was last year, the appears to be a shortfall in supply this year of over 100,000 ounces, with almost no significant stockpiles. (world consumption of palladium in 2012 was 915,000 ounces.)
Individual ETFs exist for Pd, Pt and Ag in the Canadian market, but readers may not be aware there is also an ETF that holds all three white metals, WITE.TO
Disclaimer: I do not hold shares in WITE.TO yet.
CFS AND ALL:
Addtionally, Sprott has a new ACTUAL PALL/PALA ETF…SPPP…just came out. You can redeem it for the actual physical metal every month. FYI, there is a gold and silver etf too. These funds and CEF are the ONLY ones I believe and investor should play around with in the “paper” market…VERIFIABLE metals behind them!
Yeah, the metal is verifiable, cross their heart…
Paper is paper is paper. I think this is a mainstream bull run into the abbatoir.
Marc, my question would be—–how do you redeem your metal?
Globex opens up Just after 6 pm EST and SLAM silver gets taken down.
The bullion banks must be scared, as I’ve rarely seen such attacks.
It’s kind of ironic that the white metals are doing as well as they are excepting silver. However, silver should catch a leg in the not distant future and should outperform gold. It’s also ironic that I’ve done better in the plat and pall markets (recently) then I’ve done with silver. The problem is when to take profits………
Dr Carson has been all over the Internet this weekend.
It is truly refreshing to see and hear a brain surgeon that doesn’t worship at the alter of academia; It will be sad to see the MSM “Expel” him a la Ben Stein, in the months ahead, as obviously ya can’t have a guy like him running around……surely he’ll be found in a compromising situation with a candy striper or something….
I could almost see Obama’s thoughts of, “Man, when I get back to the control room I’m gonna pull his tax records out and send them to my buddies!”
IMHO the technicals on the TSX G&S Mining Index are pointing to a buy for the brave and a run to the hills signal for the pessimist crowd. As much as I hate to admit it, I am an optimist from this point. Damn that vitamin D!
Dan
In the time during which I wrote my previous comment on Palladium, it went back up from being $5 down to $4 up.
Palladium should eventually challenge its’ high of $850 in the next few weeks. The chart still looks positive. There should be deficits for the PGMs running into 2014 so it would not be surprising to see platinum hit $2200. Palladium should go along for the ride.
Oil is now back up over $1.10 today, so fundamentals do win out.
Also, although there is currently a glut of natural gas on the market currently, do NOT
accept the political belief that it always maintain such a position.
I monitor rig count by region.
Because the depletion rate for frac’d wells is very high, it is necessary to continuously move the rigs around and drill more horizontal holes and frac. Because of the low price of natural gas, companies have been reducing drilling. The rig count has been dropping about 1% a week since just before Christmas.
I hear similar noises from the industry in Alberta. Producers just drill and cap, drill and cap. There’s no point bringing product to market at a loss.
I just wish we could get rolling with that Northern Gateway pipeline, for the sake of all Canadians. Many times every day I feel like smashing something over the brainwashing of the “green” Agenda 21 crowd. Their anti-market “save the planet” centrist neurosis is going to ruin us. I wish we could take them all and put them on a deserted island somewhere in the Arctic.
Now, CFS, that’s really some good info—-keep it coming.
Gold continues to take a beaten in the after hours. Not good. clearly it is breaking down once it fails to hold critical support. Nowhere to go here…
Margin premiums were lowered on the NYMEX and the COMEX for G&S contracts of 100 ozs and 5000 ozs respectively and other sizes too. These margin premium requirement changes don’t come into effect until end of day Tuesday.
If I were an option buyer at this point I would wait to pay the lower premium. Thus, I think the demand is low now but will pick up substantialy after Tuesday IMHO.
Dan
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Great speech…..Shame to see Mr OBAMA , sitting there looking embarrassed, at times , & even worse looking bored …..oh body language , is a great indication , of what someone is thinking.