The hard asset markets are depressed. Is this the end of the world for investors in this sector?
Hour 1 :
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In the first hour Jay Taylor of We Beat the Street and Alan Butler of Butler on Business discuss general market conditions. Bob Kramer of Canamex gives us an industry view of what is happening today. And Roger Wiegand of Trader Tracks talks about how Gold and Silver will support and rally.
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In the second hour, Al talks with Yuri Maltsev, Professor of Economics at Carthage. Then Al and Jeff Deist discuss the markets.
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Mcalvany on Friday’s take-down….
Should provide comfort for the longs, and the nervous.
He’s talking his book, of course, but he is much more believeable than JPMorgan, since David does back up with explanations.
C.FS……I think “his book” is correct….jerry the LONG….
Dave is a good guy and I do enjoy having him on the Show!
ditto….enjoy him also….great insight….ootb…
MCALVANY might be not only a good guy….he gave a GREAT summation of what is going on and he is not only right on (IMO), but ARTICULATED in a way that shows great insight AND intelligence!
MCALVANY, I really dont believe has really MUCH to gain by sticking his neck out with this commentary – sure he is a PM guy…but, MCALVANY has A LOT to lose if he is wrong – OF COURSE – he is not. Credibility and intimate knowledge of the interworkings of global charlatans is a MUST if you are going to suvive and prosper. DM is doing what he should be doing – putting his reputation and financial expertise on the line.
marc….you are correct…..
Reminds me of an old coach.
And that would be?
oh, not a famous coach like newt, just an old college coach of mine.
bobby was it BOBBY KNIGHT….I JUST THREW THAT IN…..
Bill Downey also offers great insight to Friday’s take down.
Thanks for the link k, BJ
Thanks, The Tall, we try.
A bit of a hassle given where we were on Friday, but it was really fun!
Al….Friday may have been a hassle on Friday…but, I was busy and was not paying attention…..to me it was not a big deal….If YOU believe in the LONG term…which I do. THIS just looks like 2008…a great time to buy…..
I think that anyone who is familuar with CYCLES….knows they take about 28 years to unfold…..if we are about 12 years into the cycle,then we are not half way there….so, we can expect that we will see these downs and the weak at heart might need to turn off the screen and go do something else…..
I am here for the LONG HAUL…and have committed my money and my time,(and time is money) into the understanding of this trends and the cycles………SO, KEEP UP THE GREAT WORK…………….Best….ootb
Great missive, Jerry!
The smell in Washington:
Did you notice Obama’s proposed budget exempted himself and Congress from some of its penalties?
Pretty amazing cash for silver!
Ignore the advertisement that comes first…..Roberts explains the attack on gold.
THE ROBERTS INTERVIEW IS A MUST WATCH
Big Al, Jerry and ALL:
Is Nick Barisheff wrong: NOPE.http://www.resourceinvestor.com/2013/04/10/golds-irreversible-trends-driving-it-to-10000?t=precious-metals. His trend analysis, I believe is spot on…..$10,000 gold – who know…….for you too, James the lesser.
Key points: over 500 net tonnes of paper gold were sold today by the bankers.
However in China we had 283 tonnes of physical gold delivered into Shanghai in March and another 137 tonnes of gold in the first 12 days of April: thus over 400 tonnes of physical delivered in 1 1/2 months.
Maguire believes that over 800 tonnes has been delivered in 2013.
Thanks for the link, Marc!
This may make you feel not so bad:
now, that would make you sick….$300 mill…..that might even keep me up at nite….
marc…..I think Nick has some great points….I enjoy listening to him and reading his posts…..,thanks for the post…..ootb
It is a long time between now and the next presidential election. Will not the economic problem be obvious by then?
that was my same thinking…..cogitabam idem……ootb
I would certainly think so cfs, but the majority don’t seem to get it. Sad but true!
Gold and Silver shortages imminent:
“Sales last week, greater than last month”
Talk about a .market that is nonsensical!
I hope the Tea party starts to dominate the Republican candidates before the next Presidential election.
Jeff asked if we would support RAND…..only if his father runs with him,,,and he is a true TEA PARTY…..and TERM LIMITS ARE IMPOSED……other wise we are wasteing our time…
You think the evangelicals did not come out for Romney, they will come out for Rand Paul – come out against him.
no the evangelicals did not come out because he was a mormon……sorry they are not the same thing……
I have to agree with you In the box!
thanks for the backup….BIG AL…….
At least Romney was pro life. Want to piss off an evangelical? Don’t be.
we will give him credit on the pro life issue…..and everyone should be pro life….anyone living should be thankfull for pro life….otherwise they may be dead….
Just remember that he was s pro choice the first time around!
We are talking about the evangelicals supporting Rand who is not pro life. Geez.
READ MY NOTE….I said I, would only support him (RAND) if his father ran with him….and his father is pro life…..
I have had that conversation with him (Congressman Paul) and I agree with you.
I would consider Rand under one condition, he run independently or with a TOTALLY new party, I no longer trust any of the current parties.
I am with you and those who agree with you. (Yes, even The Tall!)
We need more TEA PARTY members in both houses of Congress to get back our country, from the Banksters. And get Anti-Trust regulation imposed on our current banking sector, reenact Glass-Steagall, no more too big to fail banks, strong state central publicily owned bank supported by their own taxpayers own taxes that are returned to there state from the Federal Government, Get back Ellen Brown back on too discuss our options for the new publicily owned banking system.
DITTO ON THE TEA PARTY…..FORGET THE TWO HEADED SNAKES….
END THE FED….AND LETS GET TERM LIMITS…..
Okay I will.
The R’s really have to do something.
I like the moniker, “The Party of Opportunity”.
The only problem is that the only “opportunity” the majority seems to want is a regular check!
Any one have any specific reason wht oil was hit so hard yesterday?
Probably the stability of the country, currency, stock market, where everyone trusts the petrodollar to do its job. No hint of war in the oil producing countries, etc.
In regards to segment #1 and #2 ….both the segments exemplify it is virtually impossible to separate social issues and have an in depth discussion about politics & economics….
Just a couple of phrases tossed about…..”entitlement mentality”….”lost rugged individualism”….”things are OK as long as people are passive, if they can watch Desperate Housewives or they can watch football or baseball or whatever and not pay attention to what really is going on”…”people got soft”……”American people are not ready”….. “come hell or high water”……”honest money and the work ethic”…….”Amen Alleluia…I hate to bring church into it”…..
It is the decay of the American culture that enables the decay of American economics & politics. When the electorate is all too ready to take the easy way out the government that such an electorate puts in place will take the easy way out. The fact that the buzz phrase bombastic social wedge issues are even debated is a symptom of the underlying cultural decay of seeking the easy way out.
What all three speakers pointed out is the easy way out eventually is not good for you.
Yes it may be that social issues are truly important! Instant gratification equals ignorant ecstasy.
What “truly matters” was bantered around this week.
Last night I caught this interesting read on Zerohedge directly on point and yet somehow twisted….maybe nothing matters.
If we are afraid to speak of the important truths of our day because truth is too divisive then what does this really say? Maybe by the time we get to the issues we deem worth discussion the discussion is irrelevant. What we chose to ignore has created chaos all around us. Instead of engaging in a preferred high level civil discussion we end up by necessity forced to implement an emergency escape plan. How will we escape the hell hole we created because we feared a dinner salad may go unattended if we talked about what in the end “truly matters?”
AMEN and Alleluia…..great comments…..ootb…the rest of your artical is great too…
oh,btw…note to benb and matt….still checking on the AMEN part…..lol ….jtshortootb
That is pretty much the point that we were trying to make, Dennis M.
Irrelevant conversations are only appropriate if you are drinking!
I was drinking coffee when I wrote that!
With a little Baileys for good measure?
Whatever it was, it worked!
Stick with this link if you ever thought about having bourbon for breakfast John W.
A short Freedom Fest journey in Las Vegas with Jeffrey Tucker:
Any chance you could switch back to giving a description of each segment, rather than just hour 1 and hour 2? I used to be very selective in downloading and listening to just the guests that I particularly wanted to hear and now I miss it!
Thanks for considering my suggestion
(in London, UK)
Consider it done, Jon!
Good point, thank you.
Jon they all ready did. 1st hour was markets, 2nd hour was political. Has been in this format for about 3 weeks.
Totally endorse your observations, Dennis. Along with Desperate hlousewives, I tremble at how the masses continue to be fobbed off with an endless diet of soaps and sport. How long will our ‘celebrities’ and sporting ‘heroes’ become the sop for keeping countless millions in a braindead stupour? Already there are many signs here in the UK that the benefits ‘culture’ is going to implode, and when that happens desperate housewives will become desperate anybody whose brains have atrophied with no gameplan for what’s to come..
Thanks as always Al. A great weekend show. Tis an honour to be part of your website.
Tis a distinct honor to have you as part of the family, Andrew!
Dennis…Re your link to Jeffrey Tucker…The last sentence….”SCRIBES”…..Nice to know this site contains so many SCRIBES………..Thanks for the link , really enjoyed it.
It’s interesting, when the many have free will, what they choose to do with it. It can be measured by what is popular, what is consumed, and what is stamped-out. I’m glad we don’t live more than 120 years…I’m not sure anyone could fathom the changes of 3 generations.
At 120 maybe we could squeak into Tom below’s sighted #4 stage of The Age of Affluence……your comments made me think of this song FWiiW:
Whatever they categorize the stages you live through….life is and adventure!
I think we’ve entered the Age of Effluence. Innocence lost.
That, John W, is an interesting observation.
I sure cannot, John W
Got a kick out of ur comments Andrew. I agree with Carlin that people just are not too bright on average.
KWN is thinking the gold smash is intentional, Keiser site is saying maybe with Cyprus selling their gold and potentialy other countries too, might have been the spark to sell. If it happens thats alot of gold going to market.
With this smash I really feel its not the price that counts,its the # of onces that matter. I dont sell physical. With trading we know the markets are corrupt, or should by now, and nobody should be gambling with money they cant afford to lose anyway.
Conventional markets have definatly been the place to be, even if they dont match inflation as Jeff said, they sure as heck have been better than resource companies.
The americans are loseing the reserve currency as we speak, Australia just signed a deal with China and I cant even recall all the countries that have already done so.
The writing has been on the wall for that for some time now I would say.
Just thinking what really hurt the states might have been moving the manufactureing, the companies wanted to increase profits for shareholders, pretty capitilist way to think.
I think when the americans can no longer afford imports they will begin manufactureing again, and it will be competitive to the rest of the world.
Wages will plumet of course but lifestyle will be in line with other countries, I have read thats been the plan all along.
I still think the floor on gold is $1000. Chinese government wont lose face to their people.
Really enjoyable show today Al.
Many thanks, benb!
And yes, the conventional markets have definitely out performed the resource stock market. Boy, nobody is more aware of that than me!
The Cancer that emanates and has infected the entire global structure is rampant; blatant; pervasive; widespread, that being, Fraud & Corruption.
What we witness on the exterior are merely Symptoms, while under the surface; the inner-body remains in decay
Much like the Constitution, Morals & Ethics have been fed to the shredder and no longer exist within vocabulary or actions.
The Apple is rotten to the core.
Radiation nor Chemo can or will cure the patient, yet (the Cancer) must be Gutted in order for survival.
“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” -Abraham Lincoln
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” – Cicero
Have an enjoyable weekend.
If you read anything on Roman History….it is the leaders that cause the fighting within……power grab…control and greed…..times have changed, but, people are still people…and the game is the same……..at the end of the day…we need to deal with it…..We have been asleep, and thought it could not happen to us,,,but, quess what ….we are at the same point…..THE CLIPPING OF THE COIN has arrived, and the inflation has started, and is being hidden and the sheeple are not aware….AND REAL MONEY…is the only thing that is going to last…..period…
EXAMPLE….value of 1971 gold…$35 per oz…..silver $1 per oz….
More good points from you, The Tall!
thanks big al……
Many thanks, Simon!
And yes, of course Mr. Lincoln and the others are absolutely correct!
meanwhile in Cyprus the plot thickens:
In Cyprus The latest news is that uninsured depositors may have to wait 7 years to get back less than 20% of their money.
Let’s there is no sequel to that movie. Unfortunately, I have my doubts.
In regards to Segment 6:
On March 11, 2012 at 7:48 pm in this forum I posted the following:
“I would suggest pulling F.A. Hayek’s opus The Road to Serfdom off the shelf (if it is not on the shelf remedy that immediately) and have some quiet time.”
A recommendation I believe Al then took up and read the classic offering.
Al…when I made the above comment I had no idea the book could have cost you 7 years in jail.
One could not invest their time much better than to flip the pages of a book that would put you in a Soviet Prison. Instead of envying the beauty of the azaleas at Augusta….I think it is time I re-read the classic offering. Below is a link to the condensed version which was celebrated when it appeared in Reader’s Digest 68 years ago this month:
Yes, Dennis M, I did act on your suggestion.
The deficit levels in particular have been skyrocketing since Obama took office in 2009. And in its budget proposal released this month, the OMB does not predict that the budget will balance under the current administration.
The most recent numbers have generated significant outrage, mainly among conservative Republicans concerned about the government’s spending habits.
Donald Lambro, a Washington Times columnist, complained that the administration’s proposed budgets would “further threaten the government’s shaky solvency and undermine our economic future.”
Republican lawmakers have recently come out with their own proposed budget, claiming that “unless we change course… we will have a debt crisis.”
But the president argues that at a time where the economy remains fragile, austerity is not the answer. Speaking at a community college in Northern Virginia in February, the president emphasized the importance of spending to cure the ailing economy.
“The main idea in the budget is this, at a time when our economy is growing and creating jobs at a faster clip, we’ve got to do everything in our power to keep this recovery on track,” he said.
After the OMB released the 2,500-page budget packet this week, which includes a number of proposals such as higher taxes on cigarettes and spending on climate change research, the president defended his administration’s decision to increase spending.
The administration believes that is the answer CFS. Most of us don’t agree. Let’s see who is right.
GREAT READ…..anyone confused as to where we are headed needs to read “the ROAD TO SERFDOM……thanks…..ootb
BETTER COPY before they decide to put everyone in jail…….or burn the copies…
Jerry what a contrast….I am re-reading “The Road to Serfdom” and in another window watching some gorgeous golf on Masters.com…It even provides a PIP…Just watched Jose Maria OIlostmyball lay up on 13..below is a poignant pull quote from Hayek:
“Few recognize that the rise of fascism and Marxism was not a reaction against the socialist trends of the preceding period but a necessary outcome of those tendencies.”
DENNIS…..I like the one….that says….”Man does not and cannot know everything,and when he acts as if he does, disaster follows.”…..that is why, it is great to be a family member…..IRON SHARPENING IRON…..or better use a PUTTER…. OOTB
“It has been well said that, in a country where the sole employer is the
state, opposition means death by slow starvation.”
I am watching it as I comment. Not sure which is more enjoyable. Probably commenting is!
Some great golf though!
This may make you feel not so good.
The US presently finds itself in a full blown Fascist state.
unfortunately……the sheeple do not know this…….ootb
Facist because they can’t let the dark pools of CDO/CDI/CDS impled.
From your title of your program, Is it really das de end of the world ? Well the Banksters hope you take their cool-aid they are serving, and leave gold/silver, pgm`s, resource companies because they WANT them NOW. ….. I`m into another aspect of this market, I`m a miner who sells my metal for a profit, but hey I`ve got some real decent ore thats not up sh*t creek. I`m not leveraged to the ass in debt, nor I`m I a publicly traded company, don`t need to be. My ore is great, its taken me years of my life to get what I have, reading books on chemistry, refining of precious metals, doing experiments day after day, year after year, decade after decade, working two jobs to get it. So do I have an IRA or a 401K in a sense I do its in gold, silver, platinum, & palladium. Some might say, what has gotten me this knowledge/wealth its knowning who my God is. And its not the God of nearly not enough, but the God of the Bible, the Word of God, who is called JESUS, the Christ. Not Buddha, not Mohammed, nor cults, nor mind science, nor of the book of Mormon that my Mom`s family had and are now in outer darkness waiting for their time to be in front of God`s White Throne of judgment of tormorrow`s today. Yes Al, you have a great website, the comment section is by far the go to place I love to go, reading all the comments, Irishtony, CFS, Trader Rog, Jerry, and all the others keep me `thinking,` and thinking is where its at. If we all agree, not any of us would be thinking. TV, soaps, movies, entertain us with no thinking involved, just like a frog in a pan slowly cooking in a pan of water till we are dead, as the dust of time.
Many thanks Dennis F.
You know, that I am in the same camp as you!
Dennis your eloquence make me want to go Amen and Hallelujah, brother. For it takes something a bit special ta get a staid old vicar like me to want to stomp my feet and yell, ‘Bring it on Lord, Amen, Amen!!
Bless you, Andrew
Dennis you made me think of the beginning of John Chapter 1…which is a good thing:
1 In the beginning was the Word, and the Word was with God, and the Word was God. 2 He was with God in the beginning. 3 Through him all things were made; without him nothing was made that has been made. 4 In him was life, and that life was the light of all mankind. 5 The light shines in the darkness, and the darkness has not overcome it.
Dennis…..i said it before & i will say it again…Write a book , you have all the skills of a great author.
I wish I could say I wrote the words to which you replied.
I can only hope to strive to live them.
I am aiming for the bull’s eye in hopes to hit the target.
All we need is a great choir!
A great choir is a Catholic Church is called a guest choir.
Sometimes that is absolutely correct, Dennis M!
On a lighter note, I see that, at last, Obama is cracking down on crime:
Sad that he pushes through anti-gun leguslation, while ignoring the assassins around his schools in Chicago, who already have illegal guns, illegally carry guns, and commit murders. (20 murders in the neighborhood around the school where the first lady just gave a speech; that’s actually 20 murders in the last 10 months. Maybe he should pass a new law against murder, that might fix the problem!
I go through 2 blocks of Chicago, walking with suitcase, , on route to O’Hare airport every time I fly out of the US, and it is the scariest part of any trip I ever make.
Chicago, of course, has the toughest laws against guns of any type in the country.
And http://www.zerohedge.com/contributed/2013-04-13/scariest-50-hoursspeaking of scary…..
It always seem to happen at weekends
Geez cfs, stay the heck outa that place.
People would be wise to realise that both Republicons and Demoncrats are identical. Two-headed one party monster.
It is the Haves Vs. the Have Not’s and the Haves are coming for it all, as well as your very demise, both economically and literally. Globally!
those in power will try maintain their power at all costs.
Until the revolution!
I believe I made that exact comment in one of the segments with Jeff!
GREAT SHOW!! (for lack of better terms!)
Many thanks Ralph!
The world is falling apart before our eyes…sometimes I look back and wonder, what if Germany had won the war? Would we have better values, would they have grown to accept Jews and other races just as the USA freed the slaves and accepted blacks and Mexicans (for the most part) One thing I strongly believe is that Germany wouldn’t be screwing its citizens like the US is doing right now. I agree with one of the guests that one of the reasons the US citizens values are being eroded is because the honest days work for an honest days gold backed buck are long gone…US citizens are just thinking…”Give me my money I want it now! Now I’m going to watch some more TV and sleep”
And that Tom is the problem. The “Give me my money I want it now” mentality.
If Germany won WWII what would have the Japanese Internment Camps looked like?
Would the US have prioritized logistics to front line troops starving the camps?
Might the FDR Internment camps looked like a beaten German concentration camp?
Ever read Unbroken, Dennis M?
Let me tell you, one hell of a read! And, it is nonfiction!
May wife gave that book to me Christmas 2011 and I have read the dust jacket but never opened to Chapter 1. I will start the read ASAP. I will do just about anything not to do taxes.
Let me tell you my friend it is a compelling read!
I am adrift in the Pacific being propelled by faith and an equatorial current.
I know all the words to “White Christmas”.
I have an odd feeling ( kind of a deja vu thing) that I read this book before.
“It’s my cash and I want it now,” great TV slogan, the advertising world understands sheeple thinking. DT
From the Archives (sept 2011)
And here is one from our friend Matthew, who yesterday claimed he sold all his gold at the top in Sept 11.
On October 2, 2011 at 6:13 pm,
The longer your time horizon, the more you can relax and let the fundamentals assert themselves. Of course, if you are leveraged and/or in juniors, you should never be too far from the action. If you expect to make (and keep!) short term gains, you MUST be technically savvy AND willing to speculate on the actions of governments and central bankers. There is no way around it. To be totally honest with ourselves, we have to also realize that we are speculating any time we “invest” seeking a capital gain. No matter how good and profitable a company is, a gain beyond the dividend is inherently speculative. Juniors without cash flow are therefore, speculations. Those who play the entire sector tend to position themselves for the volatility caused by changes in market psychology, which, itself has other causes. Others position themselves based on the perceived merit of individual projects. Both approaches are speculative. Remember, not all specs are created equal. Gold bullion held for the long term is very low risk. Especially for those who understand the difference between price and value.
It is critical, Bobby, to be aware of the cyclical nature of the resource stock sector! It is definitely not an unending elevator ride up!
Al, of course you are correct. I am just trying to find the people who correctly called for this correction at the highs for gold in sept 2011.
BTW, it is very interesting to read the KER archives, I do miss some of the “old timers” who are no longer posting.
ditto…..on the OLD TIMERS no longer posting……..but, maybe they changed their names…….jerry the Short…..
Sorry Bobby, but selling was EASY. With a daily rsi of 88; a weekly rsi of 84; and a monthly rsi of 80, should anyone really be very impressed that I did? The price was going vertical, too! As mentioned yesterday, any smarts that took was overshadowed by NOT selling enough of my miners.
As for my comment on October 2, 2011, the first sentence says it all, and I stand by it. Gold was 1626 at the time. Should I have urged people to sell the safest asset on earth because it MIGHT fall 8 to 10% in 18 months? I sure don’t think so. Even if we see 1443 on monday, it would only make for a 25% TOTAL decline from 1923. For this stage of the bull market, that is completely meaningless. We saw bigger declines in ’06 and ’08.
If one really understands gold and is still bothered by the recent price action, they’re either leveraged or they’re a complete sissy, for lack of better terms.
If I held only bullion, absolutely no amount of volatility would bother me.
Fantastic Matthew, thank you!!!
Thank YOU, Marc.
That’s OK you didn’t sell the miners at gold’s top, Matthew. When silver was 3.85/oz, I seriously debated borrowing to buy as much physical as I could store. But I caved to the normalcy bias of the time, considering it reckless. There’s not too much I regret in life, but I sure wish I followed my sensibilities at that time. We learn as we go.
You’re right about learning as we go, and my “tuition” is WAAAY beyond what any ivy league school would have cost!
John W., and Matthew: Amen to both of you! Your “tuition” and (intuition) is most likely as GOOD AS GOLD!
I do too Bobby!
Yes we certainly do, John W!
John W…..As i stated before ( on this site) if one believes one is right, & one’s logic & common sense tell’s you that what you BELIEVE is the right thing to do , then do it ….dont get side tracked ..just do it weather you be right or wrong….you will have learned a valuable lesson of life.
Yep Mr Irish a person must be able to look himself/herself in the mirror and be proud of the person looking back!
First of all – FANTASTIC job! Goes to show that people CAN and DO often know how to call a top or get out very close to one.
Second – Nice to see someone else who is willing to trade based on what they see and understand regarding market psychology.
This graph displays the premiums in silver. i.e. the shortage:
I would vote for Rand Paul.
The STUPID Republicans nominated the wrong man.
A investment banker that ran a hedge fund.
Are you kidding me?
The public really hates elite insiders so why the Republicans nominated this guy Is beyond comprehension.
I have to completely agree with you on that one Terry!
YOU ARE SOOOOO RIGHT, UNBELIEVABLE!
I am sorry – WHAT AN IDIOT THAT GUY WAS! Sorry, Lord! 🙂
Terry, the elites are non-partisan.
I have to disagree with you guys. A rabble-rousing union-organizer Marxist versus someone who had actually run a state successfully against opposition in its leglislature and who actually knew some about economics and a self-made billionaire.
The choice was not bad, but the advice of don’t attack the BIG Zero, don’t rock the boat from the likes of McClain, Alexander and Graham was beyond pathetic.
The Republican party is rotten at its core of RINOs.
CFS, I respect your vast knowledge, intelligence and insight. Romney was and is still an idiot. PERFECT EXAMPLE: “IN MY FIRST DAY IN OFFICE I WILL LABEL THE CHINESE AS CURRENCY MANIPULATORS.”….plllllllEEASSEEE! I laugh so hard at how absurd and how stupid he looked. I said to myself: This guy is going to lose the election!
Was it not 20 years of undervalued Renminbi that hollowed out the whole of US industry?
If not, what did? Why did China buy all the US debt if not to drive down their currency and drive up thre US dollar?
Lighten up, Marc. After all, he had binders FULL of women. Even Hugh Hefner was jealous.
Yes, OK John W.. Out of RESPECT FOR YOU…kind sir. 🙂 BTW, ha! You crack me up…intelligence and humor – great combo!!
What a choice it was CFS!
By the way for the record, I did write in Ron Paul and I feel really good about that!
ditto bobby…..you are correct….
That health care plan was the template for Obama care – brilliant!
Har, Do you really believe what you read in the newspapers? Romney’s healthcare was a universal healthcare plan, but it WAS NOT Obamacare. Obamacare is/was never designed to work, it was a takeover plan for 20% of the economy, not a healthcare plan.
Romney was tagged for the blame, when Obamacare became unpopular.
Don’t fall for propaganda. Did you hear of complaints coming out of Massachusetts? Did you hear of budget out of control in Massachusetts? The taxes as ever were high in Mass, but it was not out of control spending.
Romney bragged (tried to take credit) how proud he was that Obama copied his health care in NH until he was told to zip it. Maybe you should do a little research?
Oh, I see it is you C.FS. Now I know I am wasting my time. You be brainwashed.
I don’t have to do research. I know Shaheen was the Governor, not Romney. He was from Massachusetts and I studied the healthcare system in Mass. Maybe you are the one who needs education.
Someone selling gold on the streets in Greece.
It should come up with subtitles, I hope.
Economy, Gold and markets have nothing to do with squiggles, lines, patterns or any “technical” programs except by those that record such and people who respond accordingly. Nevertheless, people do respond because that is they way it has been.
Financial Repression and central controlled economies is the operative prime directive of Governments Worldwide. There are NO Free markets, nor any free people, everything is being controlled. But more importantly WHY?, and I think the reason is because of the debt unraveling that is underway worldwide. Remember the whole world is on fiat debt based money and this is moving nations and their international trading towards debt based settlement by borrowing now to pay ???? (“latter”) but more accurately NEVER. The actual amount of real trade in such things like oil, grains, manufactured goods and anything used and consumed is only a tiny fraction of the amounts in fiat being created and traded. This tiny fraction is not steady nor is it just getting smaller by steady state, but is actually getting exponentially smaller. This means that the governments and world economy is about to change fast and like Hemingway said when asked how he went broke, “Slowly and first and then all at once”.
Desperate economic and Geo-political situations are both created by and responded to by desperate actions meant to either attempt by kicking can or force the issue to reprieve. Cyprus was attempt to test this issue in order for Central controlled command to plan on a more world wide basis.
The fine book “Road to Serfdom” as Dennis kindly posted, is basically the direction being applied to the US, Japan, Europe, UK and any country affiliated and it is up to each one of us to individually decide if our own nation will go down this path to total tyranny or not. If for example the US goes to total tyranny, then it matters not whether a person has their wealth in gold, silver, real estate, dollars, stocks, bonds or anything else within reach of that nations government, because all individual wealth will be aggregated into a single pool by government and then used as they see fit. The only exceptions to this will be those people who are partners in command of the tyranny.
I do not believe there will be a One World Government as designed by the West, which means that should the US move to total tyranny there will be eventual World War and the US and its allies will loose.
Clay an intelligent missive….scarrryyyy!
“The only exceptions to this will be those people who are partners in command of the tyranny.”
And in the above exception such a person loses something much more important!
clay…..Thank’s…You get it…..I wish i could write that amount of word’s….Me i prefer to keep opinions short…….but same message
irishtony. Brevity is the Soul of wit, your wiser than me. My brain is so dyslexic, that until the computer was invented I could not spell nor write. My letters came out backwards and sometimes upside down and between frustration and anger English was hell.
Dyslexics are reputed to be naturally brilliant: !!eno erew I hsiW
Have you heard the one about the insomniac dyslexic metaphysician?
Answer: He would stay up all night wondering whether there was a Dog.
I resemble that remark.
Yep Reverend so do I!
I too have had trouble with what you call dyslexic from childhood, when young kid of 12 years of age I stuttered, until at Knee Camp at Whiskeytown, CA with North Valley Baptist Church of Redding, CA, I found Jesus as Lord & Saviour, then they asked me what I needed from Jesus if anything else, I needed to speak better, so I upon receiving Jesus, received the Baptism in the Holy Spirit with the evidence of speaking in other tongues as my spirit with the Holy Spirit gives utterance. Joel 2:28-29) And it shall come to pass afterward, that I will pour out my spirit upon all flesh; and your sons and your daughters shall prophesy, your old men shall dream dreams, your young men shall see visions: And also upon the servants and handmaids in those* days will I pour out my spirit. *those days are today. Isaiah 28:11) For with stammering lips and another tongue will he speak to this people. Acts 2:4) And they were all filled with the Holy Ghost, and began to speak with other tongues, as the Spirit gave the utterance. ……. so there is a cure his name is Jesus.
A cure for everything Dennis B!
“…that until the computer was invented I could not spell nor write. My letters came out backwards and sometimes upside down …”
Kind of like some people’s comments after the internet was invented.
Clay….Some of the greatest & most successful bushiness people suffered from dyslexia. In a strange way it’s a gift….Dennis F….I too suffered from a stammer as a child , brought on by the death of my mother when i was 7 years old…….The person who cured me of my stutter was my school teacher , he used to lay me on my back on the class room floor & pile school books on my chest & make me breath strong till i could tip the books off…..it worked……or perhaps it WAS the hand of GOD.
You, Mr Irish, contribute some really great comments!
Life in Greece for the unemployed is not pretty.
(Greece no longer can afford to pay unemployment benefits, although there is some private and church help. This is a tragedy of immense proportions, spreading across Europe.
This is sad.
And so the global Depression starts in earnest.
Possibly John W
In cities in Greece it is different. e.g. in Heraklion in Crete, a common sight:
Homelessness has doubled in the last year.
Although Greece is no longer in the newspapers it is slowly collapsing, with the economy in downward spiral:
The dollar will be defended and it is still the safe haven as other currencies are in worse shape. The fed will defend the dollar through such means as crushing gold while the military might will help keep the dollar as the reserve currency.
The dollar is being defended by the other central banks, that is not what they guys are getting.
Har ..i agree….the central banks are all entwined.
Very possible Paul L,
Stay informed and nimble b or!
Update just rec’d from expected returns:
I’ve been saying for quite some time that it is not gold’s time yet. Earlier this week I noted that gold has sustained a rally for only 4 straight days in recent months, which is bad, and that time and price need to align. The average investor doesn’t think this way, but an asset trading sideways and an asset correcting are essentially the same thing. This is especially true with gold since it doesn’t provide yield. For the past year, almost any asset was preferable to gold, including real estate.
Just keep in mind that when it’s an asset’s time to correct that every single new item, bullish or bearish, will work against that asset. All of sudden we’re hearing news about central bank sales of gold, rising interest rates being bearish for gold, and more moderate than expected inflation. Gold’s not even an inflation hedge, but you’ll hear about inflation being low. Gold will rise with interest rates, but for now people have it backwards. And central bank sales of gold are often a good thing, as they were with the Bank of England in 1999. This is what’s needed to mark a bottom. Have we all not been here before?
Just give this correction a little more time to play out. Gold traded sideways for so long that the weak longs weren’t shaken out. Now they are in the process of getting shaken out, which is what always precedes a bottom. $1200-$1300 is a possibility for gold, but it is probably smart to start buying in the $1400’s. Don’t let your emotions get the best of you because things will just get more volatile from here.
Disclaimer: 1. This newsletter is for informational purposes only. I am not a registered investment advisor and I am not responsible for any actions taken by subscribers.
Good post Paul L. Thank you!
And as har also just above pointed out….. I agree the USD will be aggressively defended however its defense is in the context of other paper currencies being destroyed.
The PM represents the thermometer of fiat fiasco.
The PM farce will concentrate in the paradoxical paper form of the metals.
The tell I already see (as has happened in the past) is the premium increase between paper and physical. When inventories thin and premiums expand you need to give even less import to spot price. Paying too much attention to the spot price is like aiming at a flag at Augusta….it is unwise!
I actually hit a flag today to save my partial score!
I stated a few weeks ago that the information shared on this blog needs to be confirmed. I said then also it was red flags time. My case in point is this. Many analysts (Sinclair, former asst treasury secretary) are saying yesterday’s take down was a concerted effort by us government and/or bankers to take down gold. Do I disagree? Not nessassarly, people can’t just make off the cuff statements without hard data. No point in sharing all these articles as if they are gospel. We need the real information, not rumors and speculation. Again I am not saying I disagree but I wants facts…
Also articles and threads are going around stating we are running out of physical gold,
People claiming they are going around town and no gold dealer has gold. I called up my gold dealer, he has no problem with supply. Again passing around wrong information is not doing anyone on this site any service.
As far as yesterday’s take down I do not think this was a flight to the dollar for safety. This was not 2007 all over again. The value of gold yesterday just evaporated. In 2007 the stock market crashed first and investors sold gold either to cover margin calls or a perceived flight to safety to the dollars. Gold was a victim of its own success as people sold their most profitable liquid asset. This was clearly not the case yesterday. Is gold signaling the coming crash first this time before the stock market, perhaps. Either way gold is in desperate straits right now and there could be a lot more pain. I’ve said for many months here we have seen the parabolic blow offs and newcomers will not be rewarded in this market. What is a newcomer? Anyone who bought gold in 2011 as it was on the way to 1900. They were late and will not see profits. Markets don’t work that way. Are these people still in or did they exit? Was yesterday’s shakout enough to drive them out. This is what worries me, this could mean the bull market is over, as I said and feared for many months. Am I selling? No. I will go down with the ship….
James….are you sure Sinclair was a former asst. trea sect…. ? are you sure of the title….?
btw….if you go down with the ship…you will have a lot of crew members…..We could be called LONG SHOREMEN…..OOTB
He meant Paul Craig Roberts, who is getting a lot play time on KWN,etc
thanks marc….I thought I missed something…….ootb
I am still trying to get caught up from my time off…..I have decided to work like a Frenchman…..take a month off at a time….and ask for my gold inlieu of fiat when I start getting my retirement money……if there is any left…..
Sinclair has never worked in the government. He has always been involved in the gold market, as a trader, and now as a Tanzanian Miner.
Very true The Greater about verification. It is critical!
As Pres Ronald Reagan would say…..”trust but verify”
Jerry…Trust !!!!!! thats an old fashioned word, ….doe’s it still apply in today’s world ?…
irish……how ya doing…….the key word is verify..
It does within this forum Mr Irish!
2 very reliable TA guys stated that 1430 must hold , one stated that if not we will see another $100.00drop in gold, with a possible test of the $1000.00 area.
All I can say Bobby is this s will be a very interesting week.
This is a real human tragedy that is happening throughout Europe.
What a horrible indictment of Socialism that renders individuals incapable of maintaining a civilized life. While altruistic and caring on its face, socialism actually takes away the teaching of a man to fish. It makes citizens totally dependent and subservient to the ruling political class. What is happening in Europe and what will happen in the US will make the dustbowl years pale in comparison. But what can we do? We must do something! I see the train speeding towards the washed-out bridge, but I feel so helpless.
Outsourcing jobs. U.S. wages must be lowered to compete with the other countries that have $2 a day wages.
Socialism is based on theft and violence; civilized life can’t emerge from that.
Very true comments CFS, in my opinion.
President Obama`s 2012 tax return looks a lot like the ones from Mitt Romney that he criticized. To bad my tax % was like that of Obama`s. http://foxnewsinsider.com/2013/04/12/neil-cavuto-president-obamas-2012-tax-return-looks-a-lot-like-the-ones-from-mitt-romney-that-he-criticized/ and thats another point to be taken at this time. ITS TAX TIME, investors cashing out to pay for their own new taxes, an ouch time for sure. Since most of the upper middle class pay more than 44% or more in taxes and then its sometimes every quarter instead of yearly. And what do bankers have to pay ? Well they just have to steal it, to pay what they owe.
I think Romney made changes to make his tax rate higher which is why he only released 1 year.
It seems that as death is an inevitable part of a humans life so it is with empires.
Seven steps in the life cycles of great powers
1. The age of outburst (or pioneers).
2. The age of conquests.
3. The age of commerce.
4. The age of affluence.
5. The age of intellect.
6. The age of decadence.
7. The age of decline and collapse.
Tom after reading your above cycles it made me think of the proverb saying “shirt sleeves to shirt sleeves in three generations.” Then while reading Hayek I found this destined for a cycle reference:
“The effect of this (classical liberalism) success was to create among men a new sense
of power over their own fate, the belief in the unbounded possibilities
of improving their own lot. What had been achieved came to
be regarded as a secure and imperishable possession, acquired
once and for all; and the rate of progress began to seem too slow.
Moreover the principles which had made this progress possible
came to be regarded as obstacles to speedier progress, impatiently
to be brushed away. It might be said that the very success of liberalism
became the cause of its decline.”
The Spanish saying goes to the effect “quien no lo tiene, lo hance; y quien lo tiene, lo deshance” or “who doesn’t have it, does it, and who has it, misuses it”.
Sad but that has been shown by history to be true Tom.
David McAlvany “The Fuse is Lit Pt 3”
Tom very good point. From the looks of things it is clear we are in the last stage
I got to ask:
I have followed the gold market for the past 10 years and the technical s and charts that indicate tops and bottoms have always been my friend, but in the last few years and more often as of lately the manipulation of gold and silver has been so ramped how can you guys still give a number for the bottom when they knock the crap out of the price to drive it down?
When or at what point will this control come to an end?
Yesterday 500 tons of paper gold moved in a few hours but Germany has to wait 7 years for delivery of her physical.
When you ask…..”When or at what point will this control come to an end?”
To answer clearly it is needed to bifurcate the answer:
1) I do not know when the control of the price on non-existent paper metal will end.
2) The control of delivering physical metal at current close to paper metal prices has already ended.
Pete, it will end when they run out of deliverable metals.
Did I miss something? Earlier this week the major market manipulators (the banksters) paid a visit to the White House. Next came the massive naked shorting of gold and silver. Just a coincidence, I’m sure….
I wasn’t aware of such a visit, although that would be interesting.
Regarding gold’s 5% takedown, many are asking “Why?” I say, “Why not?” Cyprus wants to sell some gold, apparently 40 tons worth. Real or not, that’s the rumour out there. It’s also mid April, a seasonally weak time for metals. Japan’s money printing gone wild just pushed US street cred upwards, in the eyes of the world, making gold less interesting as it doesn’t create returns. Casey Research’s latest freebie email had a chart showing net inflows into US stock markets at $60 billion for the latest (quarter ?), the highest level in years, and a huge change from net outflows.
I think the air should be cleared a bit here. You’re either in gold to hedge (against currency devaluation), for for capital gains (short-term trading, or long-term investment). Metals can serve all those purposes, but there are short-term interfering issues that are just a fact of life. Prices will go way up, and way down (recall Trader Rog has said that repeatedly).
There’s lots of reasons why gold can drop. An idea I read yesterday was that as each nation in the EU needs a bailout, their gold may go up for sale, flooding the world market for some time until such gold is sold. I don’t necessarily agree with that theory, in it’s origin or outcome, but many probably do.
Bitcoin is an alias to gold in the minds of many. Bitcoin crashes Thursday, so gold crashes Friday. And we’re surprised?
You all should know by now that central banks are accumulating gold, and have been for some time. What price do you think they want to accumulate at, $1,900 an ounce, or $1,400?
Buying gold is a little like buying an emergency kit, or making a will: It’s something most people know they should do, but it feels so depressing to go out Saturday morning and do it. “Put it off ’til next month.”
When people start selling their physical metals, I’ll start to care about a drop in price.
Excellent, just excellent! From:
Marc, who has lightened up a little bit…… 🙂
Bravo John W.!
I agree with Marc ‘s comment John W!
JOHN W…………As i type this there is 188 comment’s on this blog…….your’s impresses me the most….well done…..I also thank everyone else , for their clarity , & their concern to take the time to interact & post their comments….This has been a very good debate, without malice…….Respect to you all.
Hey common Mr Irish admit that mine are simply ABSOLUTELY BRILLIANT. I have minimal self-esteem and I need the reassurance.
RE: “I wasn’t aware of such a visit, although that would be interesting.”
Here you go JWR:
The meeting took place Thursday. ; the take-down, first thing Friday.
Inside the White House
Full List of Bankers at White House Meeting Thursday – Washington …
2 days ago … Here is the list of bank executives who will be attending the White House meeting Thursday morning.
Roy Smith Interview on White House Meeting With Bankers: Video …
Roy Smith, professor of finance at New York University’s Stern School of Business, talks with Bloomberg’s Betty Liu about today’s White House meeting between …
Oh wow, Lloyd Blankfein, Jamie Dimon, and Brian Moynihan. Nice to see that all sides were so well represented.
Thank you BJ. I completely missed this one.
Awesome, thank you BJ.
BJ…John W…….NOW WE KNOW WHO ARE RUNNING THE WEST ……..& then came BLOODY FRIDAY !!!!!!!!!!!
Jerry the short – no csinclair isn’t the former asst treasury. I. Was referring to 2 different people. Sthe treasury sec I can’t. Remember his naw was on Peter Schaffer radio on Thursday
Maybe you’re referring to Dr. Paul Craig Roberts who served as an Assistant Secretary of the Treasury in the Reagan Administration and a co-founder of Reaganomics.
was that trickle down…..or… trick or treat……
thanks James……I thought I had missed something…..plus marc has your back….he qualified my question……lol……ootb
[…] Listen to the show HERE! […]
I heard kudos today. I know when you listen to him he makes everything out to be rosy. However he was talking about the sequester and how good it is for the economy. The day the sequester passes the stock market went up 300 points. Could this be the reason for gold going down ,not just Friday. Could this sequester be the solution that maybe rights the ship, or at least slows it down. Just a thought
S/b kudlow today…
I agree with the comments in the first hour that quantitative easing is just kicking the can down the road, but what really concerns me is that politicians talk about reigning in spending, bu no one is reigning in Bernanke and the fed, quantitative easing may seem to provide short term relief, but in the long term I don’t think it is a good thing. Also, everybody talks that social security is an entitlement program, I have paid into it for over 40 years so I feel that labeling it as an entitlement program is not correct. getting food stamps or free healthcare without paying for it to me is an entitlement
gary……The govt “CANT” reign in Bernanke & the fed..They rule America along with the rest of the Bankers….(See above Banker’s at the White House )…The government is just there TO FOOL THE PEOPLE.
another thing, I have contracted my national representatives about quantitative easing and the fact that the fed needs to be regined in and has too much power, but as usual nothing seems to get done
Bravo for you contacting your elected officials!
Good for y oh Gary!
gary…..my question would be…..did they know what you were talking about…….the next time you talk to them….TELL THEM YOU ARE VOTING FOR TERM LIMITS….lol ootb
Yes and then see just how interested they are e in you and your opinions!
The Treasury tells the Fed to re-purchase bonds.
Total Fiasco: Germans Are The Poorest, Cypriots The Second Richest In The Eurozone
TUESDAY, APRIL 9, 2013 AT 7:11PM
In March, six years after inception, the first ECB-organized Eurozone-wide household-wealth survey results were trickling out. But when the Bundesbank refused to publish the German data, insiders leaked the reason: too explosive for the current debt crisis and bailout environment because Italian households were far wealthier than German households. Shocking! And a red herring. The truth turned out to be far more shocking.
Now the ECB has finally published the all-country report—and it’s far worse than feared. Italian median household wealth was indeed over three times larger than Germany’s. But that wasn’t the problem. The problem was Cyprus.
Cypriot households (CY), as measured by both their median and average wealth, were the second richest in the Eurozone. Median household wealth—half the households had more, half less—of €266,900 was over five times Germany’s puny median of €51,400. Average household wealth reached a phenomenal €670,900 (that’s $872,000!), 3.4 times Germany’s €195,200, and just shy of Luxembourg’s €710,100. Rarefied levels of wealth achievable only by small countries with huge and murky banking centers, or lots of oil. Few countries in the world are in that elite club.
And Germans (DE), based on median household wealth, were the poorest in the Eurozone
As to what is reported of happening from news sources on Kitco, it seems from some investment bank sold gold probably paper gold, it didn`t say paper but it didn`t say physical either, just gold. So if their drum beats are correct the Banksters are setting the stage for getting Cypriot `physical` gold, then hope that others in the Euro zone to follow suit to dump their physical gold too, which my hunch is telling me. This con action by the Banksters to get people out of the physical gold market goes so well with their plans to hijack gold by pushing their all time favorite ponzi scheme the big nothing worthless paper gold ETF`s on to the gullible frightened general public of this once very prosperous nation. This sounds like kind of what happened in old Nazi Germany/France/Italy towards the rich Jews that were trapped in their once most favorite countries. Times do seem to be working again for all people everywhere, rich people beware: Their friendly bankers are not so friendly after all.
Correction the Banksters are pushing their all time favorite ponzi scheme of schemes: the big nothing worthless PAPER gold ETF`s on gullible people everywhere not on the Cypriots but on who ever they can dupe into buying this paper tiger. All the Bankster `press media` have to report is that Gold is being dumped not any mention of whether its physcial or paper another ploy.
The friendly Banksters want all the physical gold every where from any dumb sucker they can dupe for a few bucks. So in pushing their most favorite commodity PAPER in what ever form it takes on the image of. Its like a shell game on the street where`s the pea, come on under which shell is it under. This old game of chance was probably the bum/swindler`s favorite back in ole Germany before they changed their names of course to the Rothschild of England.
Japan economy summarized graphically:
Please have Yuri Maltsev return! His insights are fascinating.
I would like to know whether he thinks it possible for a country to escape from socialism…or must new countries be formed?
We will definitely do that Tec.
Russian demise was trying to keep up with cold war defense spending. Reagan simply over spent them until their economy collapsed.
For those interested living in the Orlando Fl. area. 3 coin shops have no junk silver or silver dollars and the premium for silver 1 oz eagles is 16.1%. I inquires as to when there might be available supplies for junk and silver dollars. The reply was not anytime soon. The ratio of buyers to sellers was 25 to 1. This was from 2 different sales people so may or may not be real accurate. Kinda gives one an idea of where the physical market is headed.
Thanks, that’s good stuff to know.
Ditto here at my shop. He is out of silver…next delivery is in May sometime! Gold delivery is faster, though.
And the prices are going down. Go figure Gatorman!
I’m in a small town with 2 coin shops. No silver coins period. Says he sold everything 2 weeks ago and has had no one wanting to sell for the last month. He has 2. 100 oz bullion bars and has decided not to sell them. Thought this was pretty interesting given the current take by the msm on the popularity of the pm.
And as I commented earlier all this with declining prices. Go figure!
Germany does all the work, Cypriots have all the fun. What stinks worse is these elitists are causing us pain over here, as our investments go down to bail out these lifestyle of the rich and famous
It’s the American way, The Greater!
WHERE IS IRISH…..we need some outside comments….from the KING OF LONDON
Jerry…..just posted some……But not on a par with some of the great minds that have already posted………You know me Jerry ……im just the clown……………haha
KING OF LONDON………king of crap! more like……………………..
I can’t agree with you Mr Irish.
there may be greater comments or greater minds…..but, very few with a kinder heart…
AHHHHHHm Jerrrry,,,,How NIIIICCCCEEEEEEE! 🙂
THANKS marc…..and you are another in the same camp of kindness….
Hi Big Al,
Really good show.
2 – 4 weeks wait for silver eagles at Scottsdale Silver. They are flying on the internet. Best to all.
Big Al, please have your daughter look at upgrading the comment section. When it gets above 50-60 comments it becomes impossible to figure out where the new comments are landing.
Also, the podcast on itunes for the weekly show is all ways only the first 9 minutes. Any way to get the whole show on itunes? Thank you.
It is nice to see the comments for The Weekend Show back over 200 for the first in over a year. It is also nice to see the comments reflect relative reasoned stability after the recent market direction. This demonstrates to me that the volatility that makes you want to pull your hair out was anticipated. Further this tells me that stronger hands are taking hold with other current momentum participants eventually needing to cover. It is nice to see all the varied comments in this environment all of which add to what I see as an enriching environment…… even while being distracted by the beauty of a golf course I will never play.
May it be that our overall enrichment is measured in units of common sense and may our wealth be measured in both ounces and hugs!
That last wish, Dennis M, echo my sentiments. Thank you,
Dennis…….Hugs for the ones you love……PRICELESS.
I went back (and if I am correct) the last time The Weekend Show comment section went over 200 comments was St. Patrick’s Day 2012…..that forum started off with the following (if I may say so interesting missive)comment….I must have been up putting green food coloring in the beer:
March 17, 2012 at 1:41 am,
Dennis M. O’Neil says:
What does “global warming’ and nationalized health care have in common?
This is deep thought kind of stuff….but do not dismiss the connection.
The government’s authority to require health care coverage and/or to tax your carbon footprint is/are both taxes on life. If you breathe you must pay this premium. Pay for this coverage….. We will tell you what your care is later. As far as “global warming” your inhalation is free except your exhale is CO2 and therefore a taxable event. In both instances it places the yoke of taxation on an individual simply because he/she can fog a mirror. A wise man once said “collectivism is slavery”. “Global warming” (now retreating in the face of reality to a more humble climate change) and nationalized health care are a Madison Avenue-esque way of enslaving us while making most of us slaves make the mistake thinking we are still free.
DENNIS AT THIS RATE….WE WILL SEE ………300..PLUS POST…..COULD BREAK THE RECORD……..
If people are worried euro zone countries will start flooding the market with gold when faced with a bail out I have to think China will be more than happy to take the gold off their hands.
China appears to be about to get rid of its dollars, they have served their purpose!
If you watched the Roberts utube video up towards the top of the blog, he was indicating concern over the collapse of the dollar and explaining that was the reason for the gold take-down – to prop up the dollar.
I spoke with a relative in London today. He is saying that if the loss of physical is at the level of Friday, from the LBMA, they have about 4 maybe 5 trading days of physical gold available. Usually over 30)
Here is an old utube of Roberts explaining the collapse of Europe an the oligarchic tyranny. Unfortunately the interviewer from northest England (Durham) is a bit too chatty. But the interview is quite educational.
» Assault On Gold Update — Paul Craig Roberts
By: pcr3| April 13, 2013
I was the first to point out that the Federal Reserve was rigging all markets, not merely bond prices and interest rates, and that the Fed is rigging the bullion market in order to protect the US dollar’s exchange value, which is threatened by the Fed’s quantitative easing. With the Fed adding to the supply of dollars faster than the demand for dollars is increasing, the price or exchange value of the dollar is set up to fall.
A fall in the dollar’s exchange rate would push up import prices and, thereby, domestic inflation, and the Fed would lose control over interest rates. The bond market would collapse and with it the values of debt-related derivatives on the “banks too big too fail” balance sheets. The financial system would be in turmoil, and panic would reign.
Rapidly rising bullion prices were an indication of loss of confidence in the dollar and were signaling a drop in the dollar’s exchange rate. The Fed used naked shorts in the paper gold market to offset the price effect of a rising demand for bullion possession. Short sales that drive down the price trigger stop-loss orders that automatically lead to individual sales of bullion holdings once their loss limits are reached.
According to Andrew Maguire, on Friday, April 12, the Fed’s agents hit the market with 500 tons of naked shorts. Normally, a short is when an investor thinks the price of a stock or commodity is going to fall. He wants to sell the item in advance of the fall, pocket the money, and then buy the item back after it falls in price, thus making money on the short sale. If he doesn’t have the item, he borrows it from someone who does, putting up cash collateral equal to the current market price. Then he sells the item, waits for it to fall in price, buys it back at the lower price and returns it to the owner who returns his collateral. If enough shorts are sold, the result can be to drive down the market price.
more at paulcraigroberts.org
Is there a way to have a vote of no confidence in the president and kick him out?
Just to comment on your final segment (8) Al and Jeff: Here in the UK the vitriol’s running pretty deep over Margaret Thatcher’s demise, and her funeral this Wednesday. As she thrived on controversy, there are many pros and cons to her premiership. The Falklands had to be a plus, as was the way she broke the unions which by the mid-seventies were rabid commies hell bent on smashing up our economy. But she also helped break up society (whole communities destroyed to this day when it came to the miners), arguing that free enterprise was the only way forward. Sadly the result of all that was to squander our North Sea oil while selling off out utilities to ovesea frnachises, which as well as undermining her huge sense of patriotism has done much to leave Britian in the mess it now finds itself in.
Capitalism without compassion and mercy is as abhorrent as socilism without responsibility.
Yet as the grocer’s daughter who saw that nothing comes to those who do not or will not work, she was a role model to many of those who hate her.
It seems Margaret Thatcher had a bit of a Clarence Thomas support problem. Many of those that would otherwise embrace him or her on a superficial physical level end up rejecting them because of a superficial understanding of their political philosophy.
Clarence Thomas in spite of his undeniable accomplishments receives little support from the collectivist liberal black community.
Margaret Thatcher although achieving everything as far as a glass ceiling breaking cliché measure could never be embraced by the collectivist liberal feminist community.
What I find compelling from both individuals is the way they persevered in the face of superficial opposition. Ridicule is the #1 weapon of the collectivist. Marx taught to not battle a superior idea on the merits but instead attack the person delivering the idea. Apparently in an effort to combat her legacy Margaret Thatcher will continue to be ridiculed in death. There could be no higher complement to her than to be so challenged because it allows a response.
“I always cheer up immensely if an attack is particularly wounding because I think, well, if they attack one personally, it means they have not a single political argument left.”
In the end Margaret Thatcher was certainly not the dead wicked witch because the wicked witch’s misguided evil ideas died with her. Although evil did not die with the witch the witch herself only participated in evil and did nothing to add or detract from it. A better comparison is in the end Margaret Thatcher is better compared to Dorothy as her battles with evil will endure.
“If you just set out to be liked, you would be prepared to compromise on anything at any time, and you would achieve nothing.”
A quote from Margaret Thatcher in a 1993 NPR interview:
“I would hate a person to ask me a question, Are you a quota woman or are you a merit woman? Well, I would like that (the assessment of) whatever I did to be that I got there because I was the right person for the job. It didn’t matter as a man or a woman. I had the right qualities for the job, the right beliefs, the right principles. I wasn’t a quota.” (I found the above pull quote in a recent Clarence Page article in the poughkeepsiejournal)
“Disciplining yourself to do what you know is right and important, although difficult, is the highroad to pride, self-esteem, and personal satisfaction.”
CLARENCE THOMAS IS A BILL CLINTON…
She (THATCHER)…had more song directed at her than any other politican….according to BBC
So my question Andrew is, in the total scheme of things was she a benefit to your country?
Yes Al, culturally in some ways she was not good but in other ways she removed some very bad and unhealthy aspects of the culture. However, economically, she helped to buy us time and delay our national bankruptcy by 30 years
As a Brit, I think the coal mining unions turned coal miners from heroes into villains, from creators of wealth in a heroic profession to destroyers of wealth, wasting evergy and polluting the environment digging uneconomic very low grade coal out of the ground regardless of its low value and regardless of the cost to the taxpayer and the rest of the citizens. Scargill the head of their union was a tin pot revolutionary.
I wonder if the deep 1980-83 recession was not just a result of Fed policy of ultra high interest rates in the US to save the dollar from collapse. The Bank of England had little choice but to mimic that policy to save the pound from collapse. So Mrs. Thatcher, though she thought she was powerful ,was powerless to stop the recession since it was central bank driven from across the Atlantic. I remember getting 14+% on my money in a 30 day access bank account back then as a teenager. Imagine what borrowing costs were for business! The recession was the punishment for socialist high inflation policies in the 1960s and 1970s. The only alternative would have been a hyperinflationary depression and a wipeout of the currency (maybe what we are going to get in the UK this time around).
….its always good to hear Roger….
He is a good guy!
http://www.naturalnews.com/039829_humanoid_robots_Pentagon_Terminator.html As if there wasn’t enough going on now it’s time to meet the future enemy, robots designed for warfare. DT
DT- We have had versions of this concern for a long time…take a look at this video from way back in 1934:
We have had versions of this concern for a long time…take a look at this video from way back in 1934:
You’ve done it again Ollie! DT
Hello all!…just peaking my head out from my bunker to see what the pm’s world looks like at street level vs the chart action…..I’m more bullish on owning GoldnSilver bullion than the past 11 years and Fri was a pure panic attack by the Central Wankers….Gold making a record high in $Yen…and with Cyprus bank run, Japan going nuclear QEasing and the kid in Korea pounding the war drums the US$ Index should be 88-90…AND after Fri gold smackdown….a 2 cent pop in the US$ should have been a given…..NOT!!…the US$ fell Fri…..I am 100% certain da boyz are getting long goldnsilver and shorting the snot out of the US$ because capital flows are moving away from the reserve currency as more and more countries are setting up trade in their currencies vs the US$………back to my bunker!
Talk about NAILING IT!
Give me an address and we will see you there. Know what? We will bring the wine!
jj haven’t heard from you in a while. Guess you were hiding out in your bunker
In a few hours when the Asian markets open up we will know if they are ready to buy gold on sale or if they will follow Fridays action and kill it. I honestly can’t say what will happen. The next 24 to 48 hours are going to be the deciding critical factor in this gold market. I am waiting with baited breadth…
Its going up for now.
4 million ounces of annual silver supply and 400,000 ounces of annual gold supply have just been vaporized landslided.
Rio Tinto’s Kennecott mine in Utah- the US’ 2nd largest silver mine and world’s largest copper mine has just suffered a massive landslide which will likely shut down production at the mine for years as upwards of 1 billion tons of dirt and ore have collapsed into the basin.
16% of US annual silver production just vanished. Good thing there aren’t any physical supply issues in silver currently or anything…
Found it on Max Keiser, and silver doc I think.
news from April 10th, actually…
Yes, posted at rio tinto the 11th of april. But it had not been mentioned on this site. I was just wondering if anyone had thoughts about the loss of production. It cant be a cause of the price smash. I havnt seen anything this large before.
Another thing I didnt see mentioned, Sprott sold a tiny bit o silver I think, just before the smash, any chance he knew somthing?
You are correct, I just meant to imply that we shouldn’t expect any of tomorrow’s price movements being the effects of the RT events published on Wed/Thu. The KER site has recently seen so much activity that whenever I DON’T see some news item mentioned I automatically assume I probably missed it earlier.
I am surprised there have yet to be any mentions of Pascua-Lama Court injunction.
“A Chilean court has suspended the construction of Barrick Gold Corp’s $8.5 billion Pascua-Lama gold and silver mine after indigenous communities said the project was destroying glaciers and harming water supply.”
At some time those wishing the metal price to be lower must realize the paper battle needs to be joined by increasing the supply available. It would then follow that collectivists environmentalist need to make a decision…..do we want to assist paper fraud making all the government grants/programs possible or do we want to continue to prevent ore bodies going into production.
I suppose a middle position is to voice concern….take your bribe…. and then withdraw opposition.
This immediately above is from April 10th as well……
I think mining news was discussing this for awhile.
Envirnmental issues could slow mine building, unless your in Canada, Harper is not so envirmentaly concerned and was talking raiseing taxes on mining.
However it takes form…..any hindrance to mining whether it takes the form of…..carbon tax (Australia)……windfall tax…..indigenous rabble rousing (Peru -now Chile)….nationalization (Venezuela -Bolivia)….monetary capital controls (Argentina & pretty much eventually everywhere)…unions…..NIMBYism…..whatever the case might be I know I missed a few …but the point is these oppositions to exploration, permitting, developing and profitably operating a mine eventually make existing physical more valuable. If production is unduly prevented, then existing will be more desired.
There the paper bugs have a problem….. as they stretch the paper metal illusion too far….. the illusion of paper metal comes in direct conflict with any opposition to production……they need mine production because they realize they need every physical ounce they can get on the table.
Tiffany cannot make a ring setting out of futures contract!
You have got to be right Dennis.
Its the way I see it too.
Dennis…Most of the Tiffany silver in circulation in the UK is FAKE…& ebay is awash with it.
RT to be congratulated on ther radar advanced warning system. No lives lost, thank God
That really is somthing, dont know if I ever heard of somthing close to this large happening and no one got killed.
Did ANy body SEE……”BANK OF FRANCE to do curruancy swap with CHINA…” 4-12-2013
this should make the FED happy……
Yes, SAW IT…..Aussies, now France and of course, many others…….and this is bad for gold as……China and others gobble up all they can….bear market….ABSOLUTE HOGWASH…who do they think we are? ABSOLUTE IDIOTS? HOGWASH FOR THAT, TOO.
Ditto’s Mark and Jerry.
Thanks all for the record-shattering volume of comments!
I expect to see it over 300…..that would be a record for BIG AL….and of course you too mr. jeff…..ootb
THIS IS 301
A call to battle……………
THIS IS A GREAT ENDING….AND DWIGHT put a great BEGINNING…on the next phase….
“The enemy outnumbers us a poultry 3 to 1….good odds for any Greek!
This day we rescue a world from mysticism and tyranny and usher in a future brighter than anything we can imagine!
Dennis….It’s not the numbers that count….It’ the commitment…..
If its in the soul , its unbeatable.
something like SOUL BROTHERS…..
Don’t forget us Soul Sisters!! 😉
Sorry……I SHALL NOT FORGET AGAIN…..OOTB,,,
Tell Leonidas and the brave 300………
Al, Jeff & Crew,
Wow! Seldom miss your great program & this weekend was a real “eye opener”. I’ve watched and studied rise and fall of civilizations & could never quite get a grip on the key rot factors in the downward slide. Yuri Maltsev really nailed it. I will be writing to my “representatives” with some hard questions for which I want answers. The aim of course is to prompt them to THINK and ACT. Start with audit the Fed, then bust up the banks – impose 50% reserves/Shah Ghilani & kick some ass big time on Wall Street. Revamp the monetary system & get back to the spirit of 1776. Will it happen? Not with “We the Sheeple!” Hey guys, thanks again. Knowledge is still the best kind of power. Keep it coming! And good luck to us all.
Dwight…….Welcome to the REAL WORLD…..Not the Disney type rubbish that’s peddled to the people day after day……..Whats coming to the people , they deserve for living in lala land…….To lazy & stupid to see they have been played like a fiddle.
BTW..dont be a stranger , drop in on a regular basis…..& that goes for all you people out there who read everyday ,but for some reason do not post comments…You all have idea’s & thoughts that are just as important as anything else posted on this site, so PLEASE , Come in we students here crave education.
A very sincere thank you to you sir!
Welcomeo the Korelin family Dwight. There aren’t many websites that provide some true reality amidst all the current delusion, pain and madness!
I am observing on average 15% premium on silver Maples and Eagles.
Looks like a bear trap.
Good news for those who want price of gold to rise.
Clive Maund is bearish – $1000?
He’s been wrong every time I’ve read his b.s.
To see past articles:
www dot safehaven dot com/author/137/clive-maund
Irwin…….I agree with you……his charts are a lot of mumbo jumbo….Gold at 1000, the charts he has indicated…heavy buying between 1000 and 1500,,,,not all these people are going to throw in the towel…..anyone that has been buying, is not stupid,it takes deep pockets to buy gold, and physical gold is not going to be sold cheap…..the smart money will just hold on till it comes back…..What are they going to buy,,,,,fancy car, real estate, diamonds,art,boats,watches,……all that stuff has been already purchased,since 2006, The big money will just keep their gold and pass it to the heirs,
Fibonacci corrrections for the bull market would be $1290, $1090 or $890 for 38.2%, 50% or 61.8% respectively, taking a low of $253 and a high at $1920.
Perhaps the downmove might last 1/3 of the length of the upmove, ie 3-4 years in that case. That would not be out of line.
Confluence of events is happening to strengthen the US dollar (cf Eurozone, Japan and UK currency failures and QE., the shale oil boom (bubble, so say some Russian news sources), faaling US oil imports, with low oil and natural gas prices in the USA compared to rest of world, etc.
However, USD is not that strong at 82ish (it reached 90 on the 2008 credit crash and athen 88 on the first Greek crisis in 2010/2011).
$1370-1430 is a huge congrstion zone for gold and going back there would mean the entire QE2 and QE3 benefit to gold would be almost wiped out. To wipe it out totally, you might have to back to $1260 (see Fib target above) where gold was in mid-2010.
Bob Hoye says there are a lot of signs of an important bottom (news stories of the end of gold, etc, like the end of equities stories in1982 just before an 18 year bull market started.
One thing: Maund had a very bearish chart several months ago forecasting this rout, so he was correct on approximate magnitude and direction, whatever you might think of him.
silverbug….thanks for the comments…..lets give him his due,,,since you follow him and I do not….so,we will say he is correct on his call or forecast at this time….SO, DO WE HAVE A BEAR INSIDE A BULL MKT….that is the question or do we just have a bear mkt……..thanks ootb
I listen to the whole two hours Al – waiting to hear one comment on the monthly 85 billions pushed to banks by the Fed, instead hearing things like “the people are now soft” and other irrelevant things. We are publicly being looted as we speak, and I hear the victims being blamed.
Can you ask Professor Yuri Maltsev to read the following text from Benjamin Franklin and discuss it with you?
A Modest Enquiry into the Nature and Necessity of a Paper-Currency by Benjamin Franklin (1729)
Also, how does he view the fact that the 5th plank of the communist manifesto has been in effect in the United States of America since 1913? And that most of the other 10 planks are also in place in some form or fashion?
How does he view the fairness of the fractional reserve banking system?
If you always find individuals that have the exact same view you have, how does it edify the audience you seek to inform?
“I hear the victims being blamed.”
My reply: In this context the victims allow their own predicament.
This is why “they” want the victims’ guns.
You, Mr. O`Neil, are part of the group being victimized as well. Don`t fall for the divide and conquer strategy.
That is, unless you are part of the 0.01% of the population running this looting operation.
I always enjoy reading your comments!
On a few occasions our perspectives arrive us at different paths that deliver us eventually to the same camp fire.
I understand the reason why you typed what you did.
I understand the target on my head and cash box.
At some point victimhood needs to grow up to manhood to end this fiscal fiasco monetary mayhem.
Let us TOGETHER rise up off the couch….put the potato chips away….turn off Oprah …..raise your shoulders…stop thinking like a victim and declare your own destiny whatever it may be!
I didn’t realize my comments appeared to give the impression I perceived myself as a victim, I don’t. My comments do seek to point to the real culprits for the is mess, instead of the perceived, mainstream propaganda fed, cause, i.e. social programs.
The fact is this is all purposely orchestrated by those in control of the currency systems of the planet, and it seeks to enslave us all through perpetual indebtedness.
Thanks for the blog readers points. I learned from a Bloomberg story that India now has three gold buying festivals. Trading in this volatility has proven nasty for over six months. Keep in mind we only need a handful of good trades and prob a few weeks to make a good year. The hard part is stay out and avoid the rough markets that eat your lunch. I’m down a bunch just like 2008, but then I traded back to even trading gold futures for the last 60 days of 2008 to break even and was happy to get there. I think the same stuff happens this year but some stocks can be good for you but you better be pickey and have good timing. Noticed a good essay on all the Presidents legislation failures. Things are going bad in Washington DC very quickly. We did forecast the events of Q-4 2013 and Q-1 2014 and they are setting up to happen on huge pressures and scandals. Step back and think once in a while and look at the big picture. Sometimes boring markets are good ones. I expect a very good year this year but you have to earn it. Most action comes in Q-4 from my viewpoint. Be careful out there. Don’t get mad… get smart and deal with the messes. Be a situational analyst. Figure what the leaders do and work with it. Normally they all do they wrong things so its not too difficult to figure this stuff out.
When gold sold off so hard based upon the FOMC and the bullion banks shorting with both hands, that gang made money on positions that were underwater (they regained losses held) and then they shorted more, earning additional cash. This was done to avoid a Precious Metals runaway market. Our technical forecast remains the same as repeated by Big AL shown above. I have no way of telling what the markets can do under extreme severe circumstances with politics, credit, consumers attitudes, etc. in the 4th quarter when we expect a hard smash. The administration is facing unprecedented headwinds on several nasty problems the public is for now ignoring. This is very serious stuff in our view, but keep in mind those sellers could do a re-run. -Traderrog http://www.wavelengthpublishing.com
thanks Al,,,,great show…..ootb