Al's Insights – Thu 18 Apr, 2013

Gary Savage of The Smart Money Tracker has an interesting take on last Friday’s precipitous drop in the prices of gold and silver

Click download link to listen on this device: Download Show


Featuring:
Al KorelinGary Savage

Comments:
  1. On April 18, 2013 at 4:36 am,
    Andrew de Berry (Rev) says:

    Makes absolute sense Gary to talk in terms of foreign central banks manipulating so as to offset Bernanke’s domino endgame of obliging all (western) economies to follow suit and print money.
    After all QE 3 /4 etc were hardly subtle tactics in trying to wrongfoot the Chinese or Russians.

    • On April 18, 2013 at 8:05 am,
      Dennis F. Brophy says:

      Andrew, who do you think owns central banks ? Aren`t they owned by the Rothschilds of London and to a lesser extent by Rockefeller of New York and these two own the FED. Its one happy family around the world that these players live & work in.

      • On April 18, 2013 at 8:34 am,
        Andrew de Berry (Rev) says:

        Thanks Dennis.
        Probably more accurate to speak of the Chinese and Russian governments taking action to thwart the Fed, which was what I thought Gary Savage was saying.. But I more than most am left only theorising, which as James says can be little better than dinner talk!

        • On April 18, 2013 at 11:12 am,
          Big Al says:

          I don’t know Reverend,

          A lot of insights often times come out of “dinner talk”

          Big Al

    • On April 18, 2013 at 8:40 am,
      marc says:

      Reverend, BIG Al and all:
      I completely agree! Gary nailed it. Makes absolute sense and fits in directly with what Jim Willie’s prognostications regarding a future gold-back settlement of trade. Guys, GOLD IS THE FUTURE OF THIS WORLD TO SETTLE THE FISCAL IMPROPRIETIES OF THE MASSIVE DEBTOR NATIONS. IF YOU DOUBT IT THAN YOU DOUBT HISTORY. NOT A GOOD IDEA. DO NOT ACCUMULATE GOLD/SILVER AT YOUR OWN RISK.

      • On April 18, 2013 at 9:12 am,
        Andrew de Berry (Rev) says:

        Thanks Marc,

        However I’m beginning to feel a bit like those guys on the liferaft (Unbroken) – absolutely brilliant book by the way Al. After days running into weeks and eventually deciding to ask God to save them they subsequently come under repeated cannon fire from a sadistic Japanese aircrew, even as the sharks impatiently circle for their belated dinner.With their liferaft punctured by countless bullets the three guys miraculously survive the attack only to realise, somewhat obviously that their craft is sinking!

        I’ve got no further with the book and know that Louie at least survives, so God was with him….I think!!! But, boy for those of us with a faith He sure does like testing us!

        Bit like the Fed sharks underneath even as we fend off other unknown attacks from wherever.

        I’ll keep praying….hahaha.No seriously!

        Andrew

        • On April 18, 2013 at 9:24 am,
          marc says:

          So will I REVEREND…so will I …KIND SIR!!!

        • On April 18, 2013 at 11:14 am,
          Big Al says:

          Prayer is the only thing that has worked for me Reverend!

          Big Al

          • On April 18, 2013 at 12:43 pm,
            Andrew de Berry (Rev) says:

            Great to share in the confidence of your your faith Al

            Every blessing, Andrew

      • On April 18, 2013 at 11:13 am,
        Big Al says:

        “Do not accumulate gold and silver at your own risk”?

        Common man!

        Big Al

    • On April 18, 2013 at 9:21 am,
      BJ says:

      Great interview and very relevant to this string.
      “Former bank regulator and Professor William Black says,….”
      http://usawatchdog.com/

      • On April 18, 2013 at 11:15 am,
        Big Al says:

        Yep, I did read that BJ

        Big Al

        • On April 18, 2013 at 6:46 pm,
          BJ says:

          Al, if you just read the teaser and didn’t click on the video you missed 90% of the discussion on monetary policy and how money is moving across borders.

          Also, interesting to note the the SEC announced it will no longer pursue those who collapse the markets and our economy a few years back. Meanwhile the FED continues to buy approx. $40B/month of mortgage back securities–funky paper–from the very bankers that put this fraud upon not only America, but the world. The only way for that to happen is to print money. So, those who think the Fed is going to throttle QE must still be drinking the kool aide.

    • On April 18, 2013 at 11:10 am,
      Big Al says:

      Kind of does make send Reverend

      Big Al

  2. On April 18, 2013 at 5:52 am,
    James (the lesser) says:

    A lot of theories going around now, most just speculation and heresay. They all make for interesting dinner conversation but do they have any truth in them? Don’t get me wrong for many months I have been saying the market must be manipulated, since there doesn’t seem to be any logically explaination for the price action. But if we look at these latest theories do they make sense. I think we have to start with the supposition that everyone who has the power to manipulate the market is doing it for their own benefit. First there is the former asst treasury secretary who came out this week and said the United States is manipulating down and they were responsible for the take down, or at least “gave the order” to maintain confidence in the $, since run away gold prices clearly signal something is wrong. This seems plausable. So if foreign central banks were behind the take down in an effort to grab up some physical on the cheap doesnt that just help the u.s. more, giving them more opportunity to just keep QE going? Others say COMEX is going to default so naked shorts brought down the price. Didn’t they just shot themselves in the foot then, as the price declines only took more physical off the market? I have no clue. All I know is we are fighting spiritual wickedness in high places and people lives and savings are getting destroyed while the powers of this world play a giant game of real life chess! This is why fundamentals mean nothing. Look for the larceny, not the logic!

    • On April 18, 2013 at 6:20 am,
      irishtony says:

      Good piece James….But we need the logic to spot the larceny.
      BTW..I’m in the manipulation camp……These people will do anything they can , with their weak hand of cards….to win this poker game.

      • On April 18, 2013 at 7:17 am,
        Matthew says:

        A look at the mountains of evidence (and common sense) shows that manipulation is a fact. It’s pathetic that otherwise smart guys like Bob Moriarty or Adam Hamilton refuse to see it. The very existence of government issued money that’s centrally managed for political and economic gain means that all markets are manipulated. But even in a much more micro, direct way, there is plenty of evidence of gold/silver manipulation.
        Without the heavy hand of government (which manipulates everything), the world wouldn’t find itself in the state that it currently does.
        I do agree with Moriarty that it doesn’t ultimately matter anyway, but it is disruptive.

        • On April 18, 2013 at 8:42 am,
          marc says:

          Matthew,
          Your last line is spot on.

        • On April 18, 2013 at 11:28 am,
          Big Al says:

          Check out David Morgan’s opinion in today’s Daily Editorial with him.

          Big Al

      • On April 18, 2013 at 11:18 am,
        Big Al says:

        Easy to affect the price, Mr. Irish, when you have the capital to do that!

        Big Al

        • On April 18, 2013 at 12:35 pm,
          marc says:

          EXACTLY, Big Al..!

    • On April 18, 2013 at 10:28 am,
      benb says:

      Reminds me of a tune, “far away in some recess, the lord and the devil are playing chess, the devil still cheats and wins more souls, and as for the lord, he is doing his best.”

      • On April 18, 2013 at 11:29 am,
        Big Al says:

        I would have to say that the outcome is not the fault of the Lord. Remember, He gave us all free will.

        Big Al

      • On April 18, 2013 at 2:20 pm,
        benb says:

        Was just a comment on James saying “real life game of chess”

    • On April 18, 2013 at 11:17 am,
      Big Al says:

      There is a lot of truth in your comments, James.

      I do have to say however that the most truth, to me, comes from your statement “spiritual wickedness in high places”!

      Big Al

  3. On April 18, 2013 at 6:06 am,
    Bobby says:
    • On April 18, 2013 at 6:32 am,
      irishtony says:

      Bobby…..I know what i am going to be doing on May 1…..Any body wish to join me.
      Bobby thanks for the link……………NOW LETS SPREAD THE WORD

      • On April 18, 2013 at 6:45 am,
        Bobby says:

        I am raising cash for silver and will announce my intentions on April 30th. I hope all will join in, perhaps we can buy 80,000 ounces together, that would only be 10 ounces per viewer (8,000 viewers x 10 ounces)

        • On April 18, 2013 at 11:35 am,
          Big Al says:

          I am in Bobby. (Maybe a few more than 10 ounces though!)

          Big Al

      • On April 18, 2013 at 11:34 am,
        Big Al says:

        Interestingly enough Mr. Irish and everyone, I could not watch the entire video because it kept stopping on me.

        What is going on? Is it just my computer.

        Really would appreciate some replies from all of you on this topic.

        Big Al

        • On April 18, 2013 at 1:54 pm,
          Bobby says:

          Well, we will see if the gold and silvers cooperate with the program as he hoped. I looked at monster boxes today, $6.00/oz over spot. I will most likely buy 100 oz bars if I can find them at a reasonable price. I will buy from any dealer supporting the program.
          I wish more people from this blog were in????? I saw that morgan tweeted it this afternoon.

        • On April 18, 2013 at 2:58 pm,
          irishtony says:

          Al it worked fine on my computer..if thats any help.

        • On April 18, 2013 at 6:57 pm,
          Bobby says:

          Al, I went to the website to hear the video for the 3rd time, and It cut out about 1/2 way through. Interesting, I signed up for the free newsletter.

      • On April 19, 2013 at 8:02 am,
        JERRYthe Short.OOTB says:

        MAY 1 ……..NO PROBLEM……..PUT ME DOWN…..
        BTW…Irish……I was po. at sprott…for selling his physical…..total disregard for being a leader…..even if he is a billionaire……

        • On April 19, 2013 at 8:12 am,
          JERRYthe Short.OOTB says:

          bobby……the only problem I see with the movie clip at the end…..is IF one watches the film BRAVEHEART….one)…after this scene….he is mislead by his ruling leaders,, secondly),and they end up letting him be gutted……

          • On April 19, 2013 at 8:31 am,
            Bobby says:

            Interesting, even though this video has been posted on all major gold blog sites, there is some controversy. Some wonder who exactly the “sound Money Campaign” is. some are linking it with a Dave Morgan video, just prior to the take down? Conspiracy??? I know not.

          • On April 19, 2013 at 8:39 am,
            JERRYthe Short.OOTB says:

            NEVER KNOW………but,,,I loved the MOVIE…..have you ever watched it,,,,,IT reminds me of what is happening today,,,,and Freedom…..,,,been going on for centuries, and MAN WANTING CONTROL….and sometimes,,,the sheeple get gutted…..at the expense of their leaders………………thanks for the post…..I am still buying both…..although , I have gone back to my play book ,,,with buying graded coins,,,at the same price as bullion…. platinum,graded, and gold graded coins….ms.70 on the platinum, and ms.70 on the gold new coins….and ms 60 or better on the old stuff………….

    • On April 18, 2013 at 9:37 am,
      CFS says:

      Big brother is watching you:

      http://www.youtube.com/watch?feature=player_embedded&v=IkuH5ZjEdBw

      So is little brother!

      • On April 18, 2013 at 11:37 am,
        Big Al says:

        Very, very interesting CFS!

        Thank you,

        Big Al

  4. On April 18, 2013 at 6:14 am,
    Bobby says:

    Here is the link. why don’t we post how much silver we will be buying on May 1st?

    http://www.soundmoneycampaign.com/

    • On April 18, 2013 at 6:59 am,
      Dan, calgary says:

      This is ridiculous. I start a new job on that day and I work the exact hours that the coin shops are open. That day is my payday and I didn’t plan on spending my bill money on silver either. This is nice but not that well planned.

      Dan

  5. On April 18, 2013 at 6:43 am,
    James (the lesser) says:

    Irishtony – this is true! We need to know what the truth is before we can spot the counterfeit!

    • On April 18, 2013 at 6:56 am,
      irishtony says:

      James…Agreed.

    • On April 18, 2013 at 8:10 am,
      Andrew de Berry (Rev) says:

      Yep, could be another con!

    • On April 18, 2013 at 7:07 am,
      irishtony says:

      cfs…….If true ,the fraud…Does that mean the US is going to SHOCK & AWE The Irish bank…for having weapons of mass fraud…….Just asking.

  6. On April 18, 2013 at 7:03 am,
    CFS says:
    • On April 18, 2013 at 11:40 am,
      Big Al says:

      Interesting article, CFS. Thanks

      Big Al

  7. On April 18, 2013 at 7:07 am,
    CFS says:
    • On April 18, 2013 at 7:12 am,
      irishtony says:

      cfs…….I have been scouring the net , & from what i can see there has been massive buying around the world…but i feel most of europe has been lagging…What say you.

      • On April 18, 2013 at 10:36 am,
        CFS says:

        I sense buying Europe too, maybe not as massive. There are more options in terms of stocks of mining companies, and that has diverted some money.

  8. On April 18, 2013 at 7:11 am,
    James (the lesser) says:
    • On April 18, 2013 at 7:15 am,
      CFS says:

      Interesting, but will there be physical left by July?

    • On April 18, 2013 at 7:20 am,
      irishtony says:

      James…….Me smells a dead rat……..The new contract is slated to start trading in June. This contract will be listed with, and subject to, the rules and regulations of Comex. The CME Group operates the Comex exchange…….The same old we will take your money..but dont expect to get your metal……..The scam goes on…AS i keep saying if you dont hold it , then it’s not yours.

      • On April 18, 2013 at 9:15 am,
        marc says:

        Irish,
        Me smells a DEAD RAT everyday I take a US dollar bill out of my wallet and swiff it… :)
        Sad, very sad….but true!

      • On April 18, 2013 at 4:22 pm,
        JERRYthe Short.OOTB says:

        irish…..you do not have to worry about the dead rat…….only the one who are stealing your cheese…………………..ootb

    • On April 18, 2013 at 11:43 am,
      Big Al says:

      Real simple James. There is demand from smaller, more conservative investors.

      I personally would stick with “physical”.

      Big Al

  9. On April 18, 2013 at 7:12 am,
    CFS says:
  10. On April 18, 2013 at 7:39 am,
    CFS says:

    http://www.chinanews.com/shipin/2013/04-17/news202021.shtml

    eijing gold store two hours to sell 20,000 grams of gold bullion trading volume of nearly 200 million

    • On April 18, 2013 at 11:46 am,
      Big Al says:

      Could not understand.

      Big Al

  11. On April 18, 2013 at 7:40 am,
    Matt says:

    One day prior to the price of gold manipulation,all the major CEO’s of the major banks meet with Obama at the White House:
    http://blogs.wsj.com/washwire/2013/04/11/full-list-of-bankers-at-white-house-meeting-thursday/

    • On April 18, 2013 at 11:06 am,
      Bird Man says:

      Oh Please Matt…..you know they were just swapping good chicken recipes!

      • On April 18, 2013 at 11:48 am,
        Big Al says:

        I would prefer to believe that it is all for good intentions. (I hope and pray that it is.)

        Let’s see what happens in the markets during the next few days.

        Remember, I like to sleep at night!

        Big Al

  12. On April 18, 2013 at 7:42 am,
    roger wiegand says:

    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.
    Traderrog http://www.wavelengthpublishing.com

    • On April 18, 2013 at 8:10 am,
      irishtony says:

      Thanks Roger…Your input is always useful.

      • On April 18, 2013 at 8:32 am,
        Bobby says:

        yep, thanks TR

  13. On April 18, 2013 at 7:42 am,
    CFS says:

    http://www.ycwb.com/ePaper/ycwb/html/2013-04/16/content_1568336.htm

    People have to rush to buy gold, … gold bullion out of stock yesterday, investors yesterday to spend as much as 600 million yuan to buy 20 kilograms of gold bars
    The mad pursuit gold insufficiency is not just a game for the rich. Yesterday, the Yangcheng Evening News reporter learned from the East flowers to Bay store, many growers, pork traffickers, fishmonger recently put down his job went straight to the mall to buy gold.

    • On April 18, 2013 at 8:47 am,
      marc says:

      THANKS, CFS (as always!) ALL your work is VERY MUCH appreciated by all of us! ;)

      • On April 18, 2013 at 9:11 am,
        marc says:

        Big AL, CFS and all:
        It is very refreshing to see a stalwart MSM proxy like FORBES coming to forefront and ASK: WHY DONT WE (WEST) JUST GIVE THEM (EAST) OUR CAPITAL? YEAH, NO S_____!!! Duh!

        • On April 18, 2013 at 11:35 am,
          Bird Man says:

          The author of that article seems to have missed a few really big points though. First, Central Banks are acquiring gold at near record rates and second Western Central Banks are no longer selling any with the exception of Cyprus. So the the last laugh is not on the banks at all as they covet it for some of the same reason gold speculators do. Gold is money and it is a tool for settlement of international trade. On the longer term I imagine CB’s will control in excess of half the worlds supply and they will seek to stabilize the price as is the nature of bankers (EG…they don’t want assets that are highly speculative and suffer from excessive volatility on their books). Why would a Forbes writer think he is smarter than the worlds bankers in coming to his conclusions anyway? Does he honestly think the bankers don’t pay attention to gold markets? Makes me laugh out loud it is so dumb!!

          • On April 18, 2013 at 12:13 pm,
            Big Al says:

            Can’t disagree with you logic, Bird Man.

            Big Al

          • On April 18, 2013 at 1:53 pm,
            Matt says:

            I guess Libya and Venezuala were not willing to sell to the IMF/EU/US cartel.
            Wonder what happened to their leaders lately?

    • On April 18, 2013 at 12:11 pm,
      Big Al says:

      That was a great article, CFS. I am trying to get the reporter on the show.

      Big Al

      • On April 18, 2013 at 12:38 pm,
        marc says:

        Birdman,
        Great, great points!!

  14. On April 18, 2013 at 7:57 am,
    CFS says:
  15. On April 18, 2013 at 8:01 am,
    CFS says:

    http://news.sharpspixley.com/article/ross-norman-gold-crushed-by-400-tonnes-or-usd20-billion-of-selling-on-comex/159239/?utm_source=twitterfeed&utm_medium=linkedin

    OSS NORMAN – Gold crushed by 400 tonnes or $20 billion of selling on COMEX

    APR
    15
    The gold futures markets opened in New York on Friday 12th April to a monumental 3.4 million ounces (100 tonnes) of gold selling of the June futures contract (see below) in what proved to be only an opening shot. The selling took gold to the technically very important level of $1540 which was not only the low of 2012, it was also seen by many as the level which confirmed the ongoing bull run which dates back to 2000. In many traders minds it stood as a formidable support level… the line in the sand.

    Two hours later the initial selling, rumoured to have been routed through Merrill Lynch’s floor team, by a rather more significant blast when the floor was hit by a further 10 million ounces of selling (300 tonnes) over the following 30 minutes of trading. This was clearly not a case of disappointed longs leaving the market – it had the hallmarks of a concerted ‘short sale’, which by driving prices sharply lower in a display of ‘shock & awe’ – would seek to gain further momentum by prompting others to also sell as their positions as they hit their maximum acceptable losses or so-called ‘stopped-out’ in market parlance – probably hidden the unimpeachable (?) $1540 level.

    The selling was timed for optimal impact with New York at its most liquid, while key overseas gold markets including London were open and able feel the impact. The estimated 400 tonne of gold futures selling in total equates to 15% of annual gold mine production – too much for the market to readily absorb, especially with sentiment weak following gold’s non performance in the wake of Japanese QE, a nuclear threat from North Korea and weakening US economic data. The assault to the short side was essentially saying “you are long… and wrong”.

    • On April 18, 2013 at 12:14 pm,
      Big Al says:

      Yep, pretty interesting day!

      Big Al

  16. On April 18, 2013 at 8:05 am,
    CFS says:

    “The TRUTH is out there” You just have to look.

    Then decide which one of the stories is true!
    (Why do I feel like I stepped back in time into an episode of X-files?)

    • On April 18, 2013 at 8:16 am,
      irishtony says:

      cfs……..You have not stepped back in time…….We ARE living in an episode of x files , & The Twilight zone…….listen carefully , you can hear the music.

      • On April 18, 2013 at 9:03 am,
        CFS says:

        Then I just read a piece by Casey, that he ended with; “Live free and prosper” All he needed was to raise his right hand and give a split-fingered wave and I would have warped into Startreck!

    • On April 18, 2013 at 12:15 pm,
      Big Al says:

      More like The Twilight Zone, CFS!

      Big Al

  17. On April 18, 2013 at 8:20 am,
    irishtony says:

    MAY THE 1st…Is officially SILVER DAY….BY DECREE OF THE IRISH FELLA………………
    If Obama can sign executive orders , then so can i .

    • On April 18, 2013 at 8:24 am,
      irishtony says:

      Jerry…..I will give you permission to declare Gold day……& don’t be a MUMPTY & say may 1……haha

      • On April 18, 2013 at 2:22 pm,
        JERRYthe Short.OOTB says:

        IRISH…..GOLD DAY ,,,,WILL BE THE DAY THE FED. IS ABOLISHED…..,,,,

  18. On April 18, 2013 at 8:23 am,
    CFS says:

    Fresh from his humiliating defeat in the Senate to promote his pacifist gun-control agenda yesterday, in the name of the “90%” of course (who apparently need to pick their senatorial representative just a little more effectively), the Nobel Peace Prize winner has decided that guns just may be the right answer when it comes to promoting peace, or least his agenda abroad. WaPo reports that the Obama administration has ordered additional U.S. troops to Jordan for possible chemical weapons control, humanitarian response or “stability operations” in Syria. “The new troops, a headquarters element of the 1st Armored Division based at Fort Bliss, Tex., will not greatly increase the number of U.S. forces in Jordan. About 150 troops were sent last year to help train Jordanian military and Syrian opposition forces. Some of those troops will remain, and the new arrivals will increase the total to more than 200.”

    So just your ordinary garden variety, vanilla regiment of heavily-armed US troops making landfall in a foreign sovereign which would prefer to have no US presence at all, but who cares what they think. Maybe as a sign of goodwill with the 90%, the Pacifist-in-Chief will order these latest troops to have no assault rifles or extended clips. As for what this latest US landfall means for the escalating Syria conflict, we hardly need to comment on…..more over at zerohedge

    • On April 18, 2013 at 8:33 am,
      irishtony says:

      I say send them over with no guns …..Just lots of bubble gum , micky mouse badges. & little cuddly toys….that they can hand out to the people….Who knows it might work
      Lets face it everything else they have tried in the past has failed……OOOPPS forgot to mention lots of hugs.

      • On April 18, 2013 at 8:49 am,
        Dick Tracy says:

        In this environment we must be worried mostly about keeping what we have, add physical precious metal at every chance, pull your pants up tight and stay mom.

        Conspiracies and manipulation don’t matter what is important is to think clearly be organized and do your best while you can to mitigate risk when the full storm is here. Bottom what bottom just keep adding that is my plan, and from what is being said here others are following the sane same road. DT

        • On April 18, 2013 at 9:51 am,
          irishtony says:

          DT…..Thats what i have been doing for the past 3+ years….the up’s & downs dont bother me , but i would prefer less downs.

        • On April 18, 2013 at 12:18 pm,
          Big Al says:

          Don’t call it the same road, Machine Gun, call it the SANE road!

          Big Al

    • On April 18, 2013 at 12:17 pm,
      Big Al says:

      CFS,

      How do you spell “Satire”?

      Big Al

    • On April 18, 2013 at 4:44 pm,
      benb says:

      I noticed that yesterday on RT. The thought came to mind is what happens to Isreals plans to invade Jordan? On hold no doubt.

  19. On April 18, 2013 at 8:36 am,
    CFS says:
  20. On April 18, 2013 at 9:20 am,
    James (the lesser) says:

    DT – Yes the main thing right now is to think clearly. That usually means slowing down. The temptation right now is to “do something” This is always the ruin of speculators (“investors”, gamblers) Makes no difference to me. It is very hard to watch and wait at times like this. The market has one purpose – to separate you from your money. We all need to take a step back. It is a fine line we are walking right now. I’m sure many people sold in panic, but we must not buy in panic either. That day may be coming but maybe not this day or week. I’ve been calling up my dealer every other day since the Friday crash to get updates. Right now silver rounds, eagles and maple leafs are selling at $4.55 and $3.75 over spot respectively with 5 to 6 weeks delivery. That is approximately a 20% and 16% premium. That is a huge premium to pay. 10,100,1000 oz bars no problem, normal premium. No problem at all with gold. I am sitting chilly for now. The situation is very fluid. Could there be another smack down tomorrow? Who knows? Will the panic buying taper off bringing premiums back down? Who knows? I say all this to say this – keep your head about you as you say. Be calm. Decide from strength!

    • On April 18, 2013 at 9:27 am,
      marc says:

      Great missive! James the lesser.

    • On April 18, 2013 at 11:45 am,
      Bird Man says:

      High premiums are a contrary indicator. They generally spell the end of a bull market not the beginning. Keep in mind too that there can be considerable losses if you need to sell if prices keep falling. You will not fetch the premium back. More likely you will face a discount to spot. The dealers are not fools and they will not risk buying in a falling market unless you sell BELOW spot prices.

    • On April 18, 2013 at 12:20 pm,
      Big Al says:

      James,

      The market can also make you a lot of money. It has done that for us in the past!

      Big Al

    • On April 18, 2013 at 2:24 pm,
      JERRYthe Short.OOTB says:

      james….you must have read my note to marc livermore the lll,,,,,,SIT ON YOUR HANDS…..,,,,,,,,,

  21. On April 18, 2013 at 9:29 am,
    CFS says:
    • On April 18, 2013 at 9:47 am,
      Dan, calgary says:

      Thanks CFS, this is a very useful chart.

      Dan

  22. On April 18, 2013 at 9:43 am,
    clay says:

    Gary: That is a terrible explanation and from the sound of your voice, you don’t believe it yourself. Logically you have a subscription to maintain, but you should not be afraid to say whats on your mind. Above all else, be truthful to yourself.

    • On April 18, 2013 at 10:55 am,
      benb says:

      I like that clay, second phrase at the temple of delphi if I recall, to thine own self be true.

    • On April 18, 2013 at 12:21 pm,
      Big Al says:

      I think that he is being truthful, Clay. By that I mean, I am certain he is being truthful to his thoughts.

      Big Al

      • On April 18, 2013 at 2:55 pm,
        clay says:

        Yes I am certain he is, but nevertheless his explanation was not convincing. I won’t beat a good horse because it is wrong, Gary is a good person.

        Al, the problem with any news center, outlet for information, public forum or whatever is always that because it is public, guests and hosts are usually not willing to speak their minds even if they are at liberty to do so. You have a few guests who do speak their minds even when many listeners feel insulted or angry. Not saying that is good or bad, but just like myself we all have opinions and this is mine.

        Anyway Al, you do say whats on your mind, carefully and with thought, that is why people like you.

  23. On April 18, 2013 at 10:00 am,
    James (the lesser) says:

    After listening to the closing remarks in this interview I have to ask – what makes one an up and comer in this industry?

      • On April 18, 2013 at 12:46 pm,
        Big Al says:

        Just read it, Marc.

        Good,

        Big Al

      • On April 18, 2013 at 4:18 pm,
        Silverbug Dave says:

        Ann Barnhardt is kind of a crazy lady. She was ranting on about the Pope on her website and about how he didn’t bow or genuflect when he held up the sacraments at his first service. She cited this as a sign of the end of civilisation as we know it. On the very video she linked to, there was the Pope. He bowed to the Host and then he genuflected to the Chalice, plain as day, descending far enough so you could harly even see the top of his head above the level of the altar. Not a bad genuflect for a 76 year old, in my view. I would be very wary taking any notice of Ann B.

    • On April 18, 2013 at 10:12 am,
      Bobby says:

      good point james, I would rather seek advice from the tried and true. The money for words with no track record are worthless to me. (not directed to the current guest)

    • On April 18, 2013 at 10:56 am,
      benb says:

      lol james

    • On April 18, 2013 at 12:22 pm,
      Big Al says:

      Comments from my colleagues.

      Big Al

  24. On April 18, 2013 at 10:24 am,
    James (the lesser) says:

    Marc great article everyone should read this

  25. On April 18, 2013 at 10:32 am,
    CFS says:
  26. On April 18, 2013 at 12:34 pm,
    Jay says:

    Gary Savage is a train-wreck of a trader. Why that guy still has paid subscribers (and why people pay any attention to his opinion) boggles the mind…unless it’s for the comedy factor. He has no risk management whatsoever. He pulls stops on a whim and says hedging is a “waste of money”. He has no idea what will happen in the future, but pretends to have the ability to “know” what will happen. If that were true, then why did the Model Port get cut in half? He told his subscribers that he would “make them rich” but the exact opposite happened. His Model Port got SLAMMED in 2012 and 2013, and then he shut it down and replaced with an “Old Turkey” (Hold and Pray) port. There is NO WAY that Gary Savage will ever outperform SPX over the long haul. Mark my words! He is no better than 95% of the traders that lose money. In fact, I believe he is much worse than the average retail trader. He should shut down his website and throw away his computer keyboard.

    • On April 19, 2013 at 12:53 am,
      Andrew de Berry (Rev) says:

      Jay although I’m not one of them there are others on this website who regard GS as a genius! Prejudice is a curious thing. I’ve got prejudiced when those who are undoubtedly expert make a bad call which I’ve followed to my detriment.

    • On April 20, 2013 at 8:20 am,
      Pibe says:

      I agree. I am a former subscriber and you are right. Gary is a money losing machine.

  27. On April 18, 2013 at 12:42 pm,
    James (the lesser) says:

    Al – yes the market does make money for some. But only the ones who have the courage of their convictions and are not afraid to swim against the crowd! Pittsburgh Phil, my friend, Pittsburgh Phil!

  28. On April 18, 2013 at 12:53 pm,
    Larry says:

    It cannot be a foreign central bank. At least not w/o USGovt & FED approval. Gold price is such a politically important factor they would not allow some foreign entity to just come in and drill the market at will. No. It has to be USGovt themselves doing it.

    • On April 18, 2013 at 3:24 pm,
      irishtony says:

      Larry…..i agree…the sale of bullion from the mint is at record levels…the 1st or 2th biggest hole on the planet (man made) , (can be seen from space) has a huge landslide could put it out of action for the next year+ the dollar is hanging on by its finger nails…thursday Obama has a meeting with the top bankers…”BAM”.friday the metals get slammed , large number of june longs , no gold to honor the deal =
      SLAM…..just my opinion.

  29. On April 18, 2013 at 4:13 pm,
    Silverbug Dave says:

    Price drop = speculators with poor credit bailing out and other speculatos with better credit rebalancing into stocks. S&P500 has increased more than 50% relative to gold since the gold top at $1920.
    My conclusion is that gold should never have gone to $1920 and should have stayed in the $1430 region for longer at the end of 2010. QE2 bulled gold and silver excessively, gold to $1920 and silver to $49.75 and so they had to correct. Repeated visits to $1520-1550 lows in the last 18 months were mirrored by lower highs on the topside. The support had to give way. Now it is resistance. In fact, the $1430 top from December 2010 is now resistance. It was tricky resistance to overcome in early 2011, as gold was stuck around $1400 as silver surged to $30, then to $40 and to nearly $50.
    It’s just an unwind of excessive long speculation folks. We need to re-assess our view of this market. We were too impatient. We are oging to have to wait longer for this bull market to play out in our favour. That’s all. All the rest is just talk.

  30. On April 18, 2013 at 5:18 pm,
    ep says:

    This toby, when i subscribed never beleived in manipulation.. NOW since his cycles dont work hes all into the manipulation and that people dumped paper shorts.. what a loser.

  31. On April 19, 2013 at 2:41 pm,
    Simon says:

    Are not Gary Savage – http://smartmoneytracker.blogspot.com/

    And

    Toby Connor – http://www.goldscents.blogspot.com/

    One in the same?

    Why would this gent go by two different names/pictures of himself & websites?

  32. On April 20, 2013 at 8:17 am,
    Pibe says:

    I have been following Gary for several years; he has an awful timing record (he is pretty much a hope instiller). His analysis are not scientific and based on wishful thinking. My honest advice is DO NOT FOLLOW what this guy says; he has been losing money for a lot of people already. If you still want to invest in gold and silver just buy physical and store it in a safe place and wait several years – that’s it. But do not trade based on Gary’s recommendations because you will lose money.

  33. On April 20, 2013 at 2:47 pm,
    Andrew de Berry (Rev) says:

    Jay,

    Re Gary Savage, and from what I’ve subsequently read I retract my earlier comment of giving the guy my benefit of the doubt position .

    Must say I was a mite suspicious whenI saw that the subscription to Savage’s newsletter is only secured with a non-refundable $200 straight payment.

  34. On May 5, 2013 at 2:55 am,
    louis vuitton outlet says:

    Regrettably, for a lot of females, additionally they help make your ft hurt a thing awful! louis vuitton outlet http://pinterest.com/lvonlines/louis-vuitton-outlet%2

  35. On August 17, 2013 at 12:34 am,
    liam says:

    I’m all over this with this write-up, I truly think this amazing site needs considerably more consideration. I’ll oftimes be again to learn much more, thanks for that data.
    liam http://www.go2album.com/pg/groups/1841106/best-renalkidney-diet/