Turmoil in the precious metals markets
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
- Segment 1 – Al and Jeff Deist discuss the state of the markets with Bill Howald of Rye Patch Gold who provides great perspective from the standpoint of an industry insider.
- Segment 2 – Big Al and Jeff discuss what they look for when considering an investment in the industry and the importance of full disclosure on the part of the players.
- Segment 3 – Bill Howald of Rye Patch Gold discusses both the macro nature of the market and what he looks for in terms of investing in resource companies.
- Segment 4 – Peter Grandich, author of Confessions of a Wall Street Whiz Kid, helps to close out the first hour by discussing his perspective of the current market climate.
- Segment 5 – Peter Grandich also opens the second hour discussing his personal philosophy when it comes to investing.
- Segment 6 to Segment 8- Grant Williams joins Big Al and Jeff for the final three segments of the second hour discussing, among other things, the curious fact that in spite of the huge drop in the price of precious metals the demand for them escalated higher than anyone would have thought.
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Jerry, bubble? not really, Parabolic rise…..YOU BET. Who made that call? He is the guy that I want to hear.
Bobby…..THERE are some people who say bubble,,,and really do not know the subject, of bubbles….UNTIL WE HAVE A TRUE BUBBLE THIS MARKET IS NOT OVER…..,for those who need info on bubbles,,,,,go back and read….THE TULIP BULB mania…., I think Williams has described the situation around the world…..of the buying….on the dips,,,this is not a bubble…..bubbles are when everyone is in….and buying at highs,,,not lows………….so, therefore ,,,we have not had a bubble……
Completely agree In the Box!
Big Al
What did you guys think of Grant ‘s comments?
Gotta admit he builds a pretty good case for real strength right around the corner.
Big Al
Al,
I just left a comment to CFS yesterday, but I’ll mention it here too.
I was shopping around on Kitco, Tulving, Apmex, Colonial Acres, etc. There are a lot of out-of-stocks. A lot of the desirable, lower-premium coins and bars were new arrivals, absent which, I would have described the selection as poor. For the first time in my life, silver ML’s have a higher premium than silver Eagles.
2013 silver MP’s were pretty much 29.84 in single quantities, but that’s over $6 premium per coin. 100oz bars could be had for the equivalent of 25.50 per oz, and were generally available, but that’s not the size many people want (too big for me…I’d also rather 100 1oz coins than 1 big bar).
– Tulving was the only one with scrap silver.
– Kitco had a great price on their 2010 dated 1 oz silver, only 25.60 per round
– older silver ML’s were out-of-stock at every dealer
– Kitco’s lowest premium products won’t ship to the US…I’m not sure what idea is, but I think they have supply depots in each country, and don’t want to get into crossing the border. Right now, Canadians are getting better prices than Americans. This could change anytime, but it was an interesting discovery.
– Every dealer had 100 oz or larger bars, averaging 25.50 per oz, but those seem to be an unpopular unit. They also will pick Englehart, JM, etc…personally, I’d like to pick my favorite purveyor.
– Every dealer had coins with numismatic value like Mint Privy marks, but those really add to the premium. i.e. 32.20 per ML, rather than 29.84, even in monster box quantities. Waste of money, IMHO.
Gold was similar. You want a lot like 10 – 100oz, Tulving and Apmex can fill you. Not for incremental buyers though.
I wish I could post a chart here, but in summary, this isn’t like 10 or even 5 years ago when coins of almost any year or quantity were available. There’s shortages and waiting that are definitely at odds with paper (bull sh!t) pricing.
One day, all of today’s bullion sales may cause a bubble in the years 2008-on, but as long as the “1st world” is living in magnaminous debt, we’ll see shortages like this. Currency revaluation will have to occur before any of this ends.
Thanks,
John W. I have some 100 oz. bars strictly because of storage and LONG TERM holdings. Before this is over, any silver “denominations’ will be in demand because silver wont be around at all. But, yes, I see why the larger bars would be less favorable in this initial phase of physical supply shortages. Thanks, again.
NICE THING ABOUT THE 100oz bars………you can spray paint them and use them for door stop…….ootb…………
Hi John,
I opened an account with HAA which is an organization that I personally endorse.
I will be purchasing some silver from it on Monday.
Thanks for your comments. Always appreciated.
Big Al
Jerry,
Now I know your are the kind of guy you rent your house with beautiful woodwork and you paint over its beauty. Why paint a door stop? Are you afraid someone in this environment would even know what it was?
John, I did a lot of research this week regarding the “shortage” of gold and silver.. IMHO, we DO NOT have a metal shortage, but merely a production shortage, due to the heavy demand for mint products. This will settle out and the premiums subside. You can already see 1ounce gold coins back to normal. 2013 eagles can be bought in mint sealed tubes for $75.00 over spot per coin. Silver 100 oz bars (secondary mkt. i.e. sold back to mint) at $1.89/ oz over spot, so they to are getting closer to normal.
John, this exercise sparked a thought: Perhaps cash in all my eagles in trade for 100 ounce bars, with a difference of $5.50 per ounce on the trade I could increase my holdings by at least 20%.
at DENNIS…….I have some extra spray paint,,,and I never let anything go to waste…
Thanks John, that might clear up why I am having no problems (canada) and others are. It could very well just be a matter of time it will be the same thing here.
From a paper ($USD Basis) perspective, tremendous technical damage has been inflicted that will take time to heal. Tops & Bottoms are not an event, yet a process. Thus, time will heal and repair the paper technical damage in order to build cause for the next upleg to ensue in the Secular Super-Cycle Bull.
However, from a physical point of reference, there’s reason for Spot shortages, as well as Premiums.
Remember, the Paper ($USD Basis) and Physical (Demand) have witnessed ‘decoupling’ in the manner that the Physical conditions represent something very different than that Paper portrays.
Have an enjoyable weekend.
BOBBY……I think he is correct….that they will be going for cash…..but, cash,will just evaporate in value……just as it has for 100 years….JUST what are they going to buy ,,with paper fiat…..I mean long term…….this is short term thinking……but, maybe he is just talking short term……
I finaly found a writer that agrees with me Bobby. Maybe I will get a subscription lol.
Not much below $1000 will it go, the chinese government wont lose face.
IRISH AND I ,,,have decided to start a NEWSLETTER,,,,there will be some comics,poetry,satire,suspense,…..this will reach worldwide ,,,span two continents,, SO,do not miss out on the first issue………..Some highlightsand overview….
Irish’s assignment will be to BUCKINGHAM.,and the queen…..
My assignment will be discussed in later issues……
OUR FIRST ISSUE…WILL BE A retracement of the on going saga of “WHERE DID THE GOLD GO”…….Because of the events from the past week,,,,and
circumstances beyond our control,,,,We feel,that investigative reporting is necessary ,,to determine WHERE IS THE GOLD……SO,,WE HAVE instructed the little people, which Irish has under his control…,,to commence the tunneling to the secured vaults of LBMA…… ON THIS SIDE OF THE OCEAN.,,,We have also,,decided to return to WASH.DC…and start our tunnel to the Whitehouse,,,were we have first hand knowledge, that the gold is stored in the first draw to the right, in Obama oval office desk……Yes, the entire,gold bullion reserve is located in Washington,DC. IN ONE
DECK DRAWER…confirmation, that we are broke and the entire wealth of the USA,is in THE value of ONE COIN……yes, one coin,,,,,and the disturbing fact is that UNCLE BEN, said he was going to resign if he was not allowed to see “the coin”…….WELL, more on this situation in our upcoming NEWSLETTER……To subscribe to this once in a lifetime periodical,,,,
PLEASE send…..cash only…ie,,gold only….to.
I’LL BE DAM
101 GOLDFINGER DR.
GOTCHA AGIN,NEW YORKY
ZIP 1of 1
money for words and your gold for free.
You are so wrong! You completely disregarded the trillion dollar platinum coin.
I am disappointed,
Big Al
Stupid, I already started a tunnel to Washington but I thought the gold was in Washington state. Now I have to curve my tunnel around Yellowstone to get to DC.
Dan
Dan,
Ha!
I think I just wacked my head on this stupid pipeline. Who put these Rocky Mountains here… alright, I’m starting over!
Dan
Hang in there, Dan! Head EAST, my friend – head EAST!! HEY, just like the gold is heading EAST away from the WEST….. 🙂 hhaaaaaaa
I HAVE DECIDED TO USE you and Dan in the newsletter next month…..I think the headline will be……ROCKY MT. HIGH…,or LOST WITHOUT A COMPASS,,,or EAST MEETS WEST…..
[…] Listen […]
Awesome show Al. Really appreciate the effort you make and the very bright group of guests who came on. I agree that miners are a screaming buy. They have been that way for a long time now though and I do miss the old days of playing the Junior sector for all it was worth. Boy, you really had to be on your toes to participate and profit but if you got it right what a day! But lately it is just a squash-fest and maybe my negativity on the sector is getting me down and showing through in my comments. Lost hope perhaps or resignation that powers above us have a different game plan in store. I got out of my miners quite some time back (thank God) but am itching to re-enter as soon as signs of life appear. The future should be bright but with serious forces opposed to gold pushing against price it may yet be a long wait. Most likely we will see a big shake out in the miners first. It looks preordained to me now. There will be failures, cheap acquisitions for the strong players, buyouts, mergers and more than a few issues that just vanish into the mist. Positioning now is critical to long term investing success. We cannot wait until the market improves before making a wish list of buys either. That means watching these companies very closely over the coming months and selecting best in class before dropping the bucks. Despite my gloominess this past week I am very optimistic that when the turnaround finally comes it will be explosive to the upside. For now we will have to live with the fact that higher powers want gold dead and it may mean caution is warranted above gambling that the bottom is finally here. Until then ….still happy to listen to the experts and hear their views on the future. Cheers.
After listening to Grant I am convinced that the market will be back stronger than ever.
Thanks for your input Bird Man,
Big Al
BIRDMAN…..gave you a note,,on the other site…or post….hope you read…best…ootb
This old adage keeps going thru my head…….buy when everyone is selling….sell when everyone is buying, now that makes me go hmmmmm.
I have this funny feeling, Bobby, that we are in a very different environment today. This was effectively brought out by Grant.
Big Al
Ah, yes, “this time its different”
Don’t mean to repeat myself Bobby, but it sure appears that way!
Big Al
Just wondering Al, what is YOUR exit plan?
AL’S EXIT PLAN…………….shop till you drop……the last one out turn off the lights…
if you do not hear from me any more…..I will be on the big island…watching whales, and sipping SINGAPORE SLINGS……AL…2017
Grant is worth a listen, Al, where have you been the last 10 years? The shift to consumerism started long ago.
Argentina is in revolt as Cristina Fernandez has now demanded control of the judicial system. If they confiscate Argentinian’s citizens assets they have no recourse to the courts. They are now in full revolt
Argentine President Cristina Fernandez de Kirchner’s proposals that would increase state control over courts are set to be approved by Congress as lawmakers ignore protests planned for later today.
Fernandez, 60, sent a bill to Congress on April 8 to limit injunctions against the state, which would only be applied in case of risk to someone’s life or health and would have a limit of six months. That would leave people and companies unprotected in attempts to seek an injunction against state actions if a law affects their finances or assets, said Gregorio Badeni, a professor of Constitutional Law at University of Buenos Aires.
Source: Bloomberg
Really glad, CFS, that I am not invested down there now.
Another great example l ego b I g government!
Big Al
Ft. Knox; NYFRB; West Point = EMPTY
There-in lies the answer.
Please note…..
Even Switzerland is no longer a banking system safe from bail-ins:
Nor is the US immune from a Cyprus-style bail-in:
http://www.federalreserve.gov/newsevents/speech/stein20130417a.htm
I believe no where is banking a safe depository for money or PMs.
I do not understand the difficulty in understanding gold manipulation.
Google the London Gold Pool….. it was blatant Gold price manipulation in defense of Bretton Woods $35 Gold. August 15, 1971 should be viewed as an end to the admitted open government/Central Bank gold price fixing and the beginning of more covert efforts to control the price of gold.
When Nixon “closed the gold window” he also implemented wage and price controls as well as an import surcharge tax of 10%. Maybe instead of us saying “August 1971 is when Nixon closed the Gold window” we should say “In August 1971 Nixon ended the official Gold price fixing and governments and central banks started fixing the price secretly.”
When you think about it…the landlord who controls the thermostat knows when to put on a sweater. Instead of a gold price fixed price at $35 let it trade and the money creators can make money on Gold price moves in both directions. Bretton Woods ended because gold was emptying from the vaults. Spendthrift governments could not provide the confidence needed to be a custodian of wealth circulating as a derived currency.
Nothing has changed except we have much more irredeemable paper than we did then. Gold at 1400 simply is not keeping up. Today we even have irredeemable digits leverage up with unsustainable lurking around both real and derived corners. GATA really is not saying anything surprising. In a world whose money is based on debt and fraud GATA is just saying what is real in a world that is not. As a kid at his schoolmates birthday party Bob Murphy would say something to the effect “Mr. Magician you did not pull that rabbit from your hat it was hidden in the trap door in that folding table right there!” Of course the magician grimaced and ignored him and the mother paying the magician tweaked Bob on the head and said “Shut up kid!”
DENNIS… I agree… but,,in order to understand the manipulation……that would require some homework …..and I think tv msn is easier,,,wrong,,,but,it puts them
at ease…..and they can go back and relax,,knowing big brother has it covered………
Most of the kids watching the birthday party magician are content to be duped.
Jerry ……as the gold back redeemable currencies devolved the percentage of AU backing them declined. It was a set up for a run on the good stuff.
Did you hear the one about the Cyprus Orthodox Church that is out over 100 million Euros? These lost euros were the euros most likely to be used to set up soup kitchens and food pantries. Now Cyprus has a bunch of unemployed hungry paper pushers quickly realizing it is useful to possess real life skills. Now the struggling former bank employee is in need of help and the church that would have given them 3 hots with a cot is penniless.
You know Dennis it is interesting that a segment of Cyprus society that could have helped is now unable to do that.
Big Al
Al the Troika is not there to help.
The IMF is about setting up the terms of fiscal and monetary enslavement including but not limited to trade restrictions.
When the IMF comes to town the loan and trade agreements are the enslavement.
Who needs debtor prisons when you can capture a whole country.
Check of a lot easier, In the Box, to watch television than to study and think! Am I describing a p o ration of our society here?
Big Al
Dennis M- “Al the Troika is not there to help.
The IMF is about setting up the terms of fiscal and monetary enslavement including but not limited to trade restrictions.
When the IMF comes to town the loan and trade agreements are the enslavement.
Who needs debtor prisons when you can capture a whole country.”
Confessions of an Economic Hit-Man. Indeed.
SEC.8…”.A LITTLE BIT SHAKEY” per AL..,,NO not me…..,,,,as GEORGE PATTON would say,,'”,just do not like fighting for the same ground twice.”…….o^oTB
http://nsnbc.me/2013/04/18/federal-reserve-refuses-to-submit-to-an-audit-of-germanys-gold-held-in-u-s-vaults-2/ Federal Reserve refuses to submit to an audit of Germany’s Gold held in US vaults, Uncle and the naysayers who live in a world of denial. DT
DT, thanks for posting, what can be done ???? we have no power.
DT…..thanks……This is another point,,,in the direction,,,THAT THE GOLD AIN’T THERE FOLKS……………………..
The Fed is practicing fractional reserve gold banking, WOW now that is what I call creative thinking, does that mean 5% or 10%, I would hope those smaller bars in the vault are 10% and the bigger ones are 5%, that just makes sense to me. DT
Thanks Al and Jeff for having Grandich on again. He’s far from perfect but it’s so refreshing to hear his always candid, sometime negative opinion of his past and his no hedged forecasts. I’m not a religious man but Peter gives me reasons to seek as he obviously has.
As I have said over often in the past, h ed I s a good guy!
Big Al
The irony of this latest nefarious takedown is that it had a counterintuitive affect on the retail market. Investors are no longer satisfied with virtual gold. Much to their surprise, the market manipulators have stampeded the public into wanting real bullion—the reserves upon which bullion banks spawned their fractional reserve house of cards.
The true reversal will be the Soros effect. After the next quarter he will say that he is back into gold which will start a minor stampede by the peasantry he can sell into. Life can be grand when you always know which way the pendulum will swing next.
Dan
BJ,
It is the unintended consequences that the progressive collectivists seem to miscalculate. You attack the second amendment and lines at guns shows look like the line at the most popular theme park ride during spring break.
When a years worth of gold mining production is sold in paper form in 1.5 trading sessions and it takes 7 years to deliver Germany her gold then farmer Joe can figure it out right quick. “The gold aint there! I better get me some!”
“And you are saying something about guns and ammo….I better get me some of that too!”
http://www.bing.com/images/search?q=lines+at+gunshows&qs=n&form=QBIR&pq=lines+at+gunshows&sc=0-0&sp=-1&sk=#view=detail&id=63B5EF2044C7A74CBFA945A9323B71EB99733620&selectedIndex=170
Dear Big Al and Jeff,
Being in my Golden years of life,I can see being into gold and silver and their related equities, now. They are on sale, and this site with your special guests help to keep me informed. We are going to get our 5 – 10 baggers in the junior sector. Many thanks
ks……..I think you are exactly correct…….but,which ones…………oootb jerry
KS,
Spot on kind sir!
Okay, this is strange, HGD (Gold Bear ETF) has a short float of 22% of outstanding shares and has had this for months. Any comments?
Dan
I wonder if your right about that KS, last time some of these “oversold” companies were at 25 cents and went to $2-$3, now they are $1. Tmm for example is about $2.50 and last crash 50 cents. so I am not sure of 10 baggers this time, unless of course gold goes to $5k Maybe some 5cent stocks will 10 bag.
The point about sell when everyone is buying and buy when they sell…are there not line ups now? maybe this is the time when everyone is buying and its time to sell. high premiums etc. hmmmmm
I have my wish list of juniors,and am waiting on some of them to move, or prove a possible up side. before buying. My point is for me to watch closely and not wonder away from this sector.
I understand the point ks, i agree with you. My point is that to get 10 baggers this time we are going to need a much larger increase in the metals prices. 07-08 prices went from about 1000 to about 700. then we went to almost 2000. this time we will have to go to 3000 and I dont know if thats enough to take a $3 stock to $30.
Last time teck went from about 3 to $45 about tho, but teck is a pretty big company compaired to a $3 gold miner.
Prudent.
Al:
Grant Williams’ comments and observations were pure gold.
I’m not too keen on non producing juniors and explorers but like a few of the larger producers in relativly safe jurisdictions with huge amounts of cash as they will be best able to cherry pick the good, cash strpped ones at bargain basement prices. Just my humble,as always, Cougar opinion.
I can see clearly now,
the pain is gone,
I can see no obstacles
in my way …
youtube dot com/watch?v=r1MjRp0ys5I
Line-ups everywhere; shortages & wait times; no bubble here – move along folks; didn’t somebody say that when they saw the cab drivers double parked at Scotia Mocatta it was time to sell PMs? oh wait, that was me.
At my local branch, 3 employees huddled around one computer for 20 minutes still can’t find the PM products page for their bank … what’s with that?
So now we have a bunch of geniuses, by all reports, encircling the globe who have made their pm purchases, placed their orders, will patiently await delivery; and they did that at very close to the bottom; it’s all up from here.
You’re kidding, right?
Since Mr Gold’s spectacular call, “my birthday March 27 will have seen the low” turned out so well (aw – shucks guys – I’m weewy, weewy soawy) I feel that I have just as much chance of getting things right as anyone.
Those who know and have the power, may allow PMs to rise for a short while; let’s give those new buyers a while to feel good. Maybe someone could point out that the broad market is due for a correction – no, let’s call it a ‘pause that refreshes’ and it’s time to take profits and put it where? Why, gold & silver of course; after all, natural gas got away on us – don’t go there.
Then …
then comes the PM retest. At first it isn’t too serious; everyone ‘knows’ bottoms get tested. But wait, what have we here? – another $100 down day in gold? Rats, okay then, let’s call $1,150 the bottom and turn that cab driver into a long term holder instead of a flipper. Ha!
That’s my new & improved story, and I took a picture …
I assume that you also noticed it was only the Little, Mom and Pops, cap drivers, shoe shine boys buying the 1ounce coins off the shelves. Meanwhile the billionaires, hedge funds, etc are selling….yes the central banks are buying…when was the last time they were on the right side of a trade? Don’t get me wrong, I am not a bear, I am not selling….just warning…it is NEVER different this time.
Irwin, are you par chance noticing the same thing I am as a contrarian? If there are line ups and waiting times everyone is buying therefore its time to sell?
Silver Doc, has an article pointing out the shorts that have been added, “bottom not in”. They are agreeing with our own Doc I think.
Last week sd was saying that wholesalers were low or out of product, this week retailers were still meeting demand, or so it seemed, altho there might have been some dificulty getting product, waits or high premiums but you could still get it.
When there is ZERO to buy the prices go balistic, until then, I see it as wait and see.
For myself, I only had an issue with gold, the fast drop caused some retailers not to want to take the loss, but gold is back now and I have never had any issue with silver.
No waits and no outragous premiums.
Next episode starts monday. or is it sunday night?
CMI? the kwn dealer, no problem meeting demand was mentioned.
Could supply be limited at some dealers because they are holding back for prices to rise on a bounce? Kind of makes sense to me if the sellers were sitting on costly product that they would withhold and pray for things to turnaround.
The buyer meanwhile is left with the impression a shortage exists when coins won’t come to market. That idea would fit in with the widespread buying of physical following the price crash.
But it could also be leading to a confirmation bias. I am just trying to look at this rationally. Dealers were absolutely blindsided by the price collapse. Nobody saw it coming.So what are you supposed to do if you were a retail seller who had just brought in a kilo of coins priced at 1550 but spot had now dropped to 1400 or less?
Would you sell or would you wait?
Hi Irwin, “let`s call $1,150 the bottom“ my what a figure if you are a buyer, but not a seller as what few gold miners have for what it cost to produce an ounce of gold much less for an ounce of silver, its a no sale at those prices as what inflation truely is for the most part in mining is for a profit. Nothing is free. The Bankster is IMHO seems to want something for nothing `again`, as it seems to be what this sell-off seemed to be on what happened Friday-Monday. Plus the FED wants every piece of physical gold/silver there is out of the pockets of Joe Blow investor and back into fiat paper that`s going no where but to the block. As is something for nothing is what`s the mindset of this vulture-class Bankster is all about. http://nicoomer.blog.kontan.co.id/ Silver analyst Ted Butler…..30 January 2013 under the title – Silver=Stored Energy `Once an investor realizes this energy value as it pertains to silver (or gold), you will then understand how important energy plays as a role in the production of the metal as well as its role in the overall economy. Thus, as energy supply of a supply of a society increases, so will its production of gold and silver as money (if the society uses precious metals as money). On the other hand, as society experiences a decline in its energy supply, so will the mine supply of its gold and silver.“ As the Warren Buffett`s uses how they use tax loopholes in Foundations are used to push environmentalism upon society to infringe upon the growth of fossil fuel power generation throughout the country, but then turn a blind eye upon the ultra-rich`s use of their new use of their new found riches in fossil fuel uses eg. coal2nuclear.com has done to make fossil fuel as well as producing electric power grid happen for them and at the same time stop the keystone xl pipeline and its infrastructure to help those scheduled shut down of the many coal fired power plants if there were that infrastucture in place to offset their closure if Nat. Gas was available to them. ……Quick Wrap Up & Connecting the Dots…. “Once the world`s liquid energy supply starts its inevitable decline from its current plateau, annual silver metal production will decline as well (or may follow soon thereafter).>>Metal analysts who are forecasting a glut of silver coming onto the market in the following years are suffering from the inability to process information correctly.<< There will be no more silver glut and there will be no silver available when the world`s fiat monetary system finally dries up and blows away.“ http://www.zerohedge.com/news/things-make-you-go-hmmm-such-spread-between-gold-and-gold-miners “The fact that gold stocks are behaving so poorly seems to be a result of both misunderstanding and inadequate knowledge of history on the part of the vast majority of investors, and as we have seen with the subprime, Greece, Spain, Italy, and, one day, Japan, the UK and the US, nothing matters to anybody until it matters to everybody.“
Big Al,
Things are changing and changing fast. THE USA is PAST solving their problems in a calm, society pleasing way. We either:
1. Hyperinflate the currency
2. DEFAULT
3. RESET the currency to take into account all the creditors we owe.
We are past the easy way out. The next chapter is going to be painful for those that have not prepared. UNLESS the government becomes a fascist, corporate – military state of complete destruction of human rights. YIKES!!!!!
Interesting to see Barons talking deflation today.
Brilliant show, thankyou Al and Jeff as before.
I love the fact that you guys are so happy and unashamed to flag up your Christian faith. Peter Grandich is an evident star in that regard. Here in the UK and surely the main reason the country’s in such a mess is that Christianity has either been abandoned outright, or is largely of a nebulous kind or way too extreme, in a mindless sense. For yes that includes those who preach a prosperity ministry with God conjuring funds out of thin air.
That said, many Brits have a curiously detached attitude towards wealth, and it’s an attitude that seems to infect many with a faith. It’s as though they mistranslate that text about ‘money being the root of all evil’, while forgetting its prefix…namely ‘the LOVE of money.There’s either an unhealthy shame associated with money or an insatiable and diabolical avarice.
And of course as you rightly say the Bible remains the timeless text book of life. Within its pages the hoarders and misers are as much deplored, as are the usurers and loan sharks! But then too are the many, whom I fear like the foolish virgins (let’s call them maidens!) have made little or no provision for when the recession really gets serious and crashes upon them. Because for all the artifically low interest rates people now ‘enjoy’ when paying their current mortgages today’s low rates are simply unsustainable, while those struggling to save will only have improved rates for saving when their funds will have exhausted themselves.
One further point: Although the sell off in gold is inexplicable while the buyers of gold are falling over themselves in a mad panic,, is not the current gold price akin to illustrations in nature….the unnatural calm say in the eye of the hurricane, or the way the tide runs backwards just before the tsunami strikes?
Because boy oh boy there’s a big wave coming in.
Grant Williams’ insights are invaluable as always.
Andrew
Reverend,
Great comments. Money is a tool to serve God, family and others. Thats it. Once it becomes who YOU ARE and rooted in EGO…major problems are headed your way. BTW, that last paragraph is SPOT ON, IMHO! Thanks.
Thanks Marc, it’s been described not as the world, the flesh and the devil, rather the world, the flesh and the EGO!
Nice comment, Reverend. I too enjoyed Peters commentary. His last line in the interview where he basically said we have too much stuff really rang a bell with me. We have traded in the miracle of modern day consumption in exchange for actual salvation and pinned our faith on outward displays of wealth instead of genuine beliefs and respect for tradition. Christ said, sell your possessions, give to the poor, find wealth in heaven and then take up a cross and follow me. I did that once. I was unbelievable enriched as an outcome. Who can imagine that giving it all away would lead to more wealth? So it was written, so it shall be.
A Dr. Paul thought and a couple Bastiat thoughts that may be reflected upon in week such as this. I reflected upon these after Sandy Hook and needed to remind myself of the certainty of their wisdom, to wit:
The foundation of understanding liberty is to fully appreciate Dr. Paul’s concluding remarks in regards to the Sandy Hook Massacre, to wit:
“Do we really believe government can provide total security? Do we want to involuntarily commit every disaffected, disturbed, or alienated person who fantasizes about violence? Or can we accept that liberty is more important than the illusion of state-provided security? Government cannot create a world without risks, nor would we really wish to live in such a fictional place. Only a totalitarian society would even claim absolute safety as a worthy ideal, because it would require total state control over its citizens’ lives. We shouldn’t settle for substituting one type of violence for another. Government role is to protect liberty, not to pursue unobtainable safety.
Our freedoms as Americans preceded gun control laws, the TSA, or the Department of Homeland Security. Freedom is defined by the ability of citizens to live without government interference, not by safety. It is easy to clamor for government security when terrible things happen; but liberty is given true meaning when we support it without exception, and we will be safer for it.”
Dr. Paul’s final paragraph above reminds us of Frederic Bastiat wisdom:
“Life, liberty, and property do not exist because men have made laws. On the contrary, it was the fact that life, liberty, and property existed beforehand that caused men to make laws in the first place.”
And a closer from Bastiat:
“A citizen cannot at the same time be free and not free.”
Gold and silver bullion are absolutely screaming buys. For those who know how to size up the miners, many are even better buys, but bullion is a no-brainer.
In 2008, the gold price dipped 22% below the 55 week ma. A repeat now would take gold to its 38.2% fibonacci retracement (of the entire bull market) at about $1286. If we do go there, I think the move will come with positive technical divergences, like falling volume, for example.
Volume this past week was more than 100% higher than the previous week. It was also higher than the previous record volume for the week of August 22, 2011. That volume coincided with the momentum peak for that big up move. The new high, made 2 weeks later, was only $5.80 higher. That action ended that move up just as the current action is ending this move down.
It’s time to be greedy while others are fearful.
Don’t be like these guys:
http://www.youtube.com/watch?v=PpccpglnNf0
Matthew (Professor),
I have grown to “rely” on your explicit details of market analysis and your intensely concerted efforts to consistently educate us on this forum. YOUR INPUT will be always be one of my highlights in this marketplace. I look forward to your consistent input as we move forward with the intensity of market gyrations increasing!
Thank so much.
That VIDEO had me BUSTING UP AND I ALMOST KNOCKED MY LAPTOP OFF THE STAND!!! Just damn hilarious…Big Al, put this on the top of the forum with some funny headling….JUST CLASSIC…HHHHAAAAAAAAAAAAAAAA!
Matthew,
Send this to JSMINESET with some gold analysis…Sinclair WILL PUT IT ON HIS WEBSITE IF HE SEES IT!
Thank you, Marc. You are super generous. From your comments, I know you’d be on the right side of the big trend regardless of my input!
[…] Listen to the show HERE! […]
Check out: http://kingdomecon.wordpress.com for some additional logic of why gold and silver declined. Follow the websites that are provided and then THINK for yourself. Why are ‘prices’ being fixed from the ‘paper/digital/computer’ screen? Why are ‘algorithms’ now used in trading and creating ‘prices’? What role do high-speed computers play in bringing the ‘prices’ down? What is a ‘naked short’ and why are these strategies used to bring ‘prices’ down? Manipulation seems evident to me. D
It does not go over well when you see the fraud everyone else chooses to ignore. The parent paying the birthday party magician gets mad when you call the magician on his sleight of hand. When little Bobby Murphy said “He did not pull the rabbit out of his hat….the rabbit was hidden in the trap door in that table he set his hat on! Or “The playing card did not disappear it is hidden up the sleeve of his jacket!” Parents tend to say to other parents “Do not invite that Murphy kid to your party he is a brat!” Why is it we want to believe in the easy way? The worst Christmas was the first one you knew there was no Santa and that it is all a fraud. How many more layers of fraud must we discover throughout our life?
It is a dangerous thing to take things at face value. Perhaps it is more dangerous to think you have it all figured out. Monty Hall had a way of giving the too inquisitive contestant a year’s supply of Turtle Wax.
We have been warned “Do not pay attention to the man behind the curtain!” and “Do not fight the Fed!” How do we reconcile with the discomfort with the evil façade before us with the dangers of calling the Potemkin Village for what it is. It is not wise to succumb to fraud and evil. You are not treated as a hero for revealing the fraud for the evil it is. Maybe the truth of the matter is there is no “easy way”. In the end we need to do what others refuse. We need to do what is unpopular. We need to do what is uncomfortable. We need to use our talents. We need to keep our dignity.
You just have to do what you have to.
http://www.youtube.com/watch?feature=player_embedded&v=S2L0WQu2fEI
Don.
I believe George Carlin explained years ago that critical thinkers are not welcome.
Peter Grandich
This is a site about hard assets, economics and sometime politics.
You seem to be a good fellow, but please do not front run your moral standards
to indiscriminately peddle your goods.
william, as Big Al, has said in the past as it is today, its a site that everyone can say what`s on his mind, and God gave us a free will to do what we want or not want as it might be. Pretty much just about everybody on this site seems to be on the same page concerning moral standards in connection to who we believe God of the Bible says who God is. And much about of those who we call, are lead by the god of this world system who is Satan or pure evil as the Banksters seem to be. Besides I happen to like Peter Grandich. He`s honesty is above reproach IMHO. As is Al`s openness(openminded) to all who come to this site for more than facts and figures are on a course of as Billy Budd`s pursuit of truth through shear innocence of forethought. Pro and con seem to be what ideas are to this form. …..Al I hope I didn`t talk out of turn here to presuppose for you. ……….
ditto…….
William,
Can I reply on behalf of Peter Grandich, at least in the context of your objecting to his’ front-running of moral standards, etc.’Christians cannot apologise for their faith, still less when it impacts (as it always will) on the way they conduct their daily affairs, business or otherwise.
It was Francis of Assissi who advised his devotees to go into the world and preach the gospel, ‘and if you have to, use words’! However there are times when it become unavoidable to separate economic morals from those Christian thought-processes that got one to think that way in the first place.
You may have a problem with religion (I’m the same), but surely never with the principles and teachings of Christ!
Best Wishes,
Andrew
William- he didn’t bring up his religion; I thought it would be interesting to ask him about it. We like to personalize topics whenever possible to make things more interesting for the audience.
Cant help but notice Denis saying “Pretty much just about everybody on this site seems to be on the same page concerning moral standards in connection to who we believe God of the Bible says who God is.”
Maybe thats true, the majority are christian, would make sense as christianity is the dominant religion in the west, but maybe its just that christians are the most vocal.
I notice it is pretty much the same people repeating the christian stuff.
I know it might be hard to believe for some people but there are those that find christianity offensive, heck even christians can find other christian groups offensive. go figure.
As for me,Liberty includes feedom of religion, even if I dont agree, guess I am just saying I understand Williams point.
On the other hand, I did enjoy this weekends show and everybodys insightful and valuable input whatever their religion.
Hi benb, as to william, I have no axe to grind. Its a feeling I have—- Not knowing this william from just his first name, but I have a brother who goes by william too, that`s really simular in nature to this william after the flesh. Plus my william had not contacted me for many years until just recently, by email on April 15, 2013, 10:41PM……..and from what`s he`s into I know its short selling of gold, so to be fair perhaps my william was in uncharter waters as to where the market was going. I told him if he had physical gold & silver to be long and stand pat on that position. And of course other things not to be mentioned here in this form.——……..
We had our world shaken up out here in Boston, but I just want to say it made me re think my true perception of gains and losses. We strive to acheive nominal gains and some of the most valuable things in life are simply priceless. God bless America! We got those animals! My best regards to all your family’s no matter how far away or what country you may reside. On a financial note it made me smile watching the price crash and having the value of my eagles be guarded by high demand and subsequent spikes in premiums. I’m using this dip to finally buy some bars! Good show! Boston Strong!!!
Goldman Sucks and JPMorgan have been screwing the world for years with they’re crooked financial manipulations, maybe it’s time someone with deep pockets or a printing press take them down in the gold market with their own high frequency traders. I’m sure the whole world would cheer them.
The landlord who controls the thermostat knows when to put on and when to take off his sweater.
In re the benbe and Brophy above back and forth…..
The point on which most here tend to agree is elaborated on by Cassius in Shakespeare’s “Julius Caesar”:
Cassius: “The fault, dear Brutus, is not in our stars, but in ourselves, that we are underlings.”
Is it fate that drives a man to his destiny or is it the human condition that requires each person to struggle for Liberty? Cassius thought it to be the later of the two choices. Libertarians tend to have little tolerance for astrology and/or predetermined fate. Where libertarians tend to reach a dividing line is pondering the nature of human nature?
Some might say the above construct is a false dichotomy. In response to such criticism I reply that either Eve bit the apple or she did not.
BTW…..An edited captioned version of the above quote from Julius Caesar sets off Alfred Hitchcock’s “Spellbound” an in depth journey into the human condition.
As an escape take leave with the beauty of Ingrid Bergman and the complexity of Alfred Hitchcock’s dream sequence inspired by Salvador Dali: http://www.youtube.com/watch?v=vw0H48BSZ4A
I noticed some interesting behavior after the CBC released their documentary on gold a few days ago.
Family members who I have been telling about gold and PM issues suddenly began to say things like:
Where is all the gold?? Does the West have its gold?
This is all a rigged system– people should be concerned.
NOw this is from people who didn’t think this matter at all ONE week ago. I spoke with family members last week and they told me gold hasnt changed in 40 years, and its just a dead metal!!! That you can trade with any currency you want, nothing is suppressed!!!
NOW they see this on the CBC and they ask questions!!!!
Two points come to mind:
1. Most people are really asleep and don;t think about anything unless the MSM starts talking about it. Even after I have shouted and emailed for years about these issues it doesnt count unless the CBC says so.
How gullible!!! How manipulable an audience.
2. But how quickly people’s opinions can change in the right cirumstances. It can happen overnight. There will be extreme interest in gold become if people wake up to this!
ditto…..so true
Ain’t it something that a “dead metal” is up 45 fold in 40 years while the Dow, with all its risks, is up just 15 fold for the same period?
In the end the fraud will collapse due to psychology.
It will be like a light switch being flicked on from off.
Since the collapse of Bretton Woods and devolution into pure irredeemable paper money the only thing that separated the continuation of the fraud and the collapse was psychology. As long as a populace is willingly duped and accepts nothing as something then the fraud will continue. This is why over the last few decades so much effort has been engaged by the first use of the debt ‘money’ contrived into existence to shape what we think and even if we think. For example:
1) Wall Street stressed perpetual growth into layer upon layer of more complex leverage;
2) Madison Avenue stressed the natural state of debt and instant gratification…..”Do not leave home without it!”…..”put a little weekend in your week!”
3) Healthcare became place where common emotions were medicated away by a dispensary of mood altering drugs
4) Pharmaceutical companies designed hammer drugs and every common emotion became a syndrome and therefore a market to nail
5) Media provided an immersion into the unnatural state that was to be accepted
6) The end results being those that see the contrivance are the eccentric odd man out.
Whatever the form the manipulation takes and even considering the varied forms combined effects the sober clear thinking minds will have their day. Reality cannot be held in suspended animation forever. At some point the animation is seen for what it is and the participants will demand nature itself. The psychological light switch will be turned on. Standing in the light with our eyes wide open we will see that the game is over.
Pretty much spot on there Dennis.
benb
I appreciate your comments.
They always make me think.
Let us hope the nature we eventually demand is the real deal and not Sol’s version of the sun:
http://www.youtube.com/watch?v=yOV8mBjHHYg
Yup, cecil its interesting. Did anyone notice that it was stated that gold was required for sovernty, or somthing like that, then they said canada has no gold?
To me, it was still a connect the dots, sprott was on and said he didnt think there was gold in fort knox, then another guy said there was.
lol, the audience had no idea who sprott is, the show in that example gave people the oportunity to figure “of course its there”
But at least it finaly hit msm, now the government can say, “we told you”, canadian government is funny that way, it lets truth slip out sometimes in spite of itself..
Any of you familiar with the Mississippi Bubble by any chance?
It is the one bubble that hardly gets any good airtime but it is certainly applicable today. The problems all began back in the early 1700’s when a guy named Jon Law decided to introduce paper money to the French (for the first time ever) and back it with the gold and silver that sat in the royal vaults.
The rest is history as they say. He sold far too many shares of his company, caused a hyperinflation to break out and in the process sank France into a depression that lasted the better part of 100 years!
After that, the French promptly returned to a Gold standard and escewed paper for a generation. Here is an excerpt from an article on the topic written by Jon Moen (PHD) of the University of Mississippi, Business Administration.
“In 1716 Law convinced the French government to let him open a bank, the Bank Generale, that could issue paper money, or bank notes. The paper notes would be supported by the bank’s assets of gold and silver and would circulate as a medium of exchange. Paper money was a new concept for the French; money to them was silver and gold. Law believed that paper notes would increase the money in circulation, which, in turn, would increase commerce. These conditions would help revitalize and rehabilitate the finances of the French government”.
Does that comment not send bells ringing off the hook?
John Law had created the original version of the Federal Reserve and was intent on flooding the economy with paper notes in an effort to stimulate commerce. To some extent he was successful and a bull market in stocks ensued.
A massive bubble was blown as a result that caused housing prices to inflate 20 fold in a short period of time. Millionaires were minted overnight and even shoe shine boys and candle sellers participated. But the final outcome was that when the bubble burst the French economy spiralled into a very long and deep depression.
Weird how they are still working on the same idea today!
If you have time today you can read up on the story in detail for yourself. Here is a link to the Mississippi Bubble that most of you wll no doubt find fascinating. What is notable though is how society of the day eventually renounced the ideas of Central Banking and sought to return to tried and true currencies of precious metals.
John Law and the Mississippi Bubble of 1720.
http://mshistorynow.mdah.state.ms.us/articles/70/john-law-and-the-mississippi-bubble-1718-1720
So, John Law attempted what Rothchild did.
Thanks Bird Man: Law’s story is also told in Charles Mackay’s ‘Extraordinary Popular Delusions & the Madness of Crowds’, now available as a FREE Kindle download.
Best, Andrew
Thanks for pointing that out Andrew. A copy would be great to own. I have really got to get more connected and start buying my books online. Never tried it yet (do I actually need a Kindle or can I use my normal laptop?).
Anyway, the story of John Law has always fascinated me. One of the most interesting parallells to the US is that during the time the stock bubble was being created, those who wanted to cash out insisted on redemptions in physical metals, not the paper notes that the French Government was printing nor more issues of stocks. So Law closed the Gold window with government support to stop a drain on the Treasury. He then devalued the share issue to reduce the impact of the hyperinflation that had broken out and that was pretty much the end of the show. The company (in essence, France itself) collapsed and the country sank into a long deep depression taking half of Europe with it. Investors went from being millionaires to paupers literally over night. No doubt that those who came early to profit taking made out like bandits though as they swapped paper issued by the government for precious metals held by the king. They were perhaps the only real winners and this is maybe where we have a similar situation today. Of course, we do not have a hyperinflation (or even strong inflation for that matter) but it is conceivable that still lies ahead. Understanding your history should warn you that you need to get out of currencies, debt issues, bonds and other instruments and into one form or another of resource stocks if and when those more dangerous economic events begin to materialize. We may not be there quite yet but it never hurts to keep up on what happened in the past just so we all have a guideline for the future.
Birdman can’t give you any informed avice about Amazon downloads onto a laptop. But for me yielding to the curse of Amazon has had to be unavoiable, given that no publisher liked what I was about!
No doubt that Law was a shister, but second only to the French govt!
Bird, noticed you saying we have no inflation yet. I thought inflation was the creation of currency or the increase of it. The rise in prices is the Result of inflation.
The thing is, you need velocity, and thats whats happening, is no velocity as the banks are hoarding the bernake bucks. But the inflation already exists and we wait now for results of it. In other words, get your gold. lol. In any case, just what I thought.
Benb, your assessment looks accurate to me. There has been price inflation over the last decade, it just hasn’t hit “runaway” levels -yet.
Yes. I certainly agree with you both. Inflation may not be runaway but it does exist already and is slowly eroding buying power if only imperceptibly month after month. What lies ahead in latent form is the real worry. Should the Fed lose control we will be in very deep waters quickly. Inflation is interesting in just how fast it can take hold too. It almost always comes as a shock to everyone. The two things I m most focussed on are inflation rates and interest. Everything else just falls in line behind those two elements.
cecil,
That’s collectivist thinking. Don’t get too upset. It’s always been that way, and always will be. It’s that type of thinking that also creates up and down markets. Delight in it.
For you TA guys I suggest Warren Bevan, not an amateur trader, but someone making a living with it:
http://wizzentrading.com/wp-content/uploads/2013/04/April-21-2013-pdf.pdf
Dear Bobby, I have read Warren Bevan before I think. I just read his pdf at your link and it sounds very sensible to me. Here is my two-pennyworth:
http://1000gold.blogspot.co.uk/2013/04/chart-patterns-in-gold-and-silver-h-3.html
The trouble with technical or visual analysys is that It’s so easy to draw charts that give contradictory forecasts. Same with Elliott Wave. You can do all sorts of different wavecounts in retrospect so it looks like the analysis predicted the result that actually happened.
I thought gold had a big head and shoulders in 2011/2012 that pointed to $1300 and sold a bit of my position but nowhere enough because I had no conviction in my view and I remained far to bullish overall.
I currently think $1430 is important resistance because it was difficult to get past it in late 2010/early 2011 with several tops in the 1980-1430 region. It was the 2010 yearly high in fact. Today (Monday) gold has popped its head over 1430 for a couple of hours, good action but needs to hold above there.
Warren’s analysis sounds thoughful. He is not keen on buyng gold or even platinum, which has been bulled up recently but is still not performing, really.
I think political trouble in South Africa will eventually spike up Platinum and Rhodium but not yet.
As for gold, I am tempted myself to sell any rally (if we even get one) because I am too overweight in gold, %-wise in my assets. I think there are too many bearish factors at the moment and money from distressed Eurozone, and Japan seems to be going into the US dollar, not gold right now. That could last a while. To push up gold, we need real trouble to emerge in the dollar zone.
I started buying silver again last week on tuesday, if the prices fall further I will buy more if they go up slowly from here I will buy more, in conclusion I will buy more if it makes sense and for now it does. DT
………………………………..”PEOPLE ARE THEIR OWN WORST ENEMY !…………………………………………
…………………………….PEOPLE PREFER TO SEE THE SHIT, RATHER THAN THE TRUTH………………………
……………………………………….PEOPLE CANT HANDLE THE TRUTH…………………………………………………
……………………………………………….THE BRAINWASHING IS COMPLETE……………………………………….
Irish,
………DO NOT UNDERESTIMATE THE AMERICAN PEOPLES’ LUCID MOMENTS……….
They cannot shut down the grid because loud speakers on a truck will not come close to replacing the acid bath of misinformation delivered by the boob tube.
IS THAT “JOHN’S” LAW……
Well I would certainly prefer it if it were spelt that way.
IS THAT what you call “JOHN’S law…….
New Jersey drunk law? Nope. Anyway…I just got off track. Didn’t have any good comment so I thought a trip through history would be interesting for the younger readers who might not know the genesis of banking and currency (and what the outcomes were!).
great read on the MISSISSIPPI BUBBLE……..I will keep that one in mind,,when I think of the the TULIP BULB MANIA……..thanks………….ootb……..or,,,, oo tupid bulb
It is the story that is most like what we are experiencing today, Jerry. It really should be required reading. The big difference this time is that the currency (USD) is quite stable and that in itself is remarkable.
It is notable though that gold did play a pivotal role in the Mississippi bubble as I believe it is doing today also. The powers that be have learned their lessons from history and understand clearly that gold stands to defeat their program of economic intervention if it can not be managed and kept under contol.
This is primarliy what lies behind the drops in prices we have seen these past two years as each rise was met with downward selling pressures. Gold has failed to get liftoff and the majority of the worlds Central Banks will no doubt be supportive of any efforts to suppress prices.
Obviously nobody wants to see a another great depression.
It is inconceivable that we might actually experience one that lasts 80 years! The truth is that if the general public were to popularly recognize gold as the correct speculative tool to offset vast printing of fiat currencies then the gig would be up.
It should be clear to all in the metals investing community that gold is being defeated step by step and confidence erosion is intended to keep most of the public from giving serious consideration to metals ownership. It must therefore appear to be dangerous to an investment portfolio for the goal to be effective.
So dangerous that Mom and Pop will just roll their eyes when someone suggests it is a safe place to store wealth. You could call it phsychological warfare (I think someone did actually) and so the fear trade will itself be feared.
Obviously it helps their case substantially to brand buyers and holders of metals as nutcases and outsiders. This is a key ingredient and the media have very effectively gotten this message across in much of the West during the past months.
Steps are obviously being taken to ensure that a fire is not lit under speculative sentiments and so defeats those elements supportive of buying. Iit is my opinion that both India and China are also currently supportive and accomodative of the general goal of metals price suppression.
We note that taxes introduced in India to slow the speculative elements at work are having some success in slowing acquisition tendencies. As well, China has stated it will not exceed one or two percent of its hoard of foreign exchange to be deployed towards metals buying.
These are both extraordinary events from my perspective and give a clear signal that gold has fallen from grace everywhere that intervention is in progress. China of course has a tremendous bubble of its own underway and although it may not be literally printing money as is happening in the West, there is no doubt of the risk that country has exposed itself to in credit markets, capital spending programs and real estate speculation.
So physical precious metals ownership will continue to be an investment that is unpredictable. This is the reason I advocate for investing directly in mines and resource shares as these tend to fall outside the direct fireline of Central Banks and pressures dictating that gold prices not rise above a certain threshold.
They continue to have opportunity built in to them over the long term. It is logical to assume that even while metals prices are pushed down that business and corporate investments themselves are not directly the target but rather are collateral damage in the ongoing war on money.
………………………………………………”AMEN”………………………………………………..
MEXICAN TAX CHEATS………..DEFRAUD US GOVT AND US CITIZENS…..,,yes,,,MEXICANS FILING TAX RETURNS are getting refunds from the IRS and treasury,,,,,by…claiming more dependants than they have that are living in MEXICO………….BILLIONS WASTED….NO wonder the MEXICAN ILLEGALS LIKE FILING taxes……IT IS INSTANT INCOME …for full story see Sinclair…
There are two ways to hold gold where its difficult to lose your positions. (1) You can own shares in company with little or no debt, parked next to a senior miner with staying power and you don’t trade the shares but rather just hold em. Or, you can own physical silver and gold held in your posession. Homestake Mining was paying a dividend over $50 per share on its shares in the 1930’s after Roosevelt messed with gold. That I found interesting. Other things to buy and hold would be STUFF , things you need to get through the day. Current world conditions signal the manipulators in charge are working hard to steal anything not nailed down. Think it through carefully and make your best decisions for YOU. I stick with my forecast it all hits the fan in Q-4 2013 and Q-1 2014. Make your plans accordingly. Traderrog http://www.wavelengthpublishing.com
Very interesting idea about buying a company next door to a senior, Roger. I like that thought. I am making up my list now. Do you have any picks you can share?
In Roger’s scenario high velocity lead is a precious metal in 2014.
What a great weekend show, Al !!!
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
Bird Man- we several in our letter. the advantage of watching a market get smashed is you pick the best survivors that sell the least. Those do better on the snapback. -Traderrog
Up-grade your current cosmetic in half the time without spending extra money! Mac Makeup Wholesales http://www.makeup-wholesaleronline.com
GREAT SHOW……………bubble?……….