Pundit's Perspectives – Thu 13 Jun, 2013

Peter Grandich is getting angry.

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Peter Grandich

  1. On June 13, 2013 at 9:27 am,
    Dai Uy says:

    Long term in the final analysis, the law of supply and demand should prevail.

    • On June 13, 2013 at 3:28 pm,
      Big Al says:

      Sure, “in the final analysis.

      Big Al

      • On December 15, 2013 at 6:52 pm,
        Fred says:

        lol……Yeah, most people are broke by the time the “final analysis” comes.

  2. On June 13, 2013 at 9:30 am,
    Mike says:

    As the Venture trades closer to 900 my opinion that exploration mining stocks were last decades version of dot com stocks is becoming truer and truer.

    • On June 13, 2013 at 3:29 pm,
      Big Al says:

      The only reason that I would agree is that there was little value in most of the dot coms and there is true value in the “real” explorers.

      Big Al

  3. On June 13, 2013 at 9:33 am,
    Irwin says:

    As I type C$ is +0.43%
    gold is -C$16 at C$1402
    (data from kitco.com)

    signed: more ounces for Irwin

    • On June 13, 2013 at 3:30 pm,
      Big Al says:

      Good way to look at it, Irwin.

      Big Al

  4. On June 13, 2013 at 9:38 am,
    Dick Tracy says:

    We will not see gold take it’s rightful place until the dollar gets kayoed off it’s pedestal. It has cost The US their gold reserves to keep the dollar alive, now it’s just a matter of time and resolve to wait it all out. Palooka Joe aka Dick Tracy!!!!!!!!

    • On June 13, 2013 at 3:31 pm,
      Big Al says:

      I would have to agree, Palooka.

      Ever see the Dick Tracy movie with Warren Beaty?

      Big Al

      • On June 13, 2013 at 3:47 pm,
        Dick Tracy says:

        Yes, but my favorite is “Splendor In The Grass’ with him and Natalie Wood. DT

  5. On June 13, 2013 at 9:49 am,
    Dai Uy says:

    I see the day coming when the physical market will overwhelm and control the paper market. With all the constant PM advertising on TV and other media and well deserved negative financial phobia and concern by the world’s populace, I look forward to millions more eventually coming into the physical PM market.

    I agree with Marc, if for no other reason, he has invited me to attend some Aztecs games in warm and sunny southern California next winter as I thaw out.

    • On June 13, 2013 at 3:32 pm,
      Big Al says:

      The Aztec vs Dawg game was actually pretty good and the Dawgs could have easily lost that one.

      Big Dawg

    • On June 13, 2013 at 5:53 pm,
      Marc says:

      Absolutely, DU.
      Big Al too…I sent that link to you Big Al. Call with questions!

  6. On June 13, 2013 at 9:50 am,
    gary says:

    Gold is 18 days into it’s daily cycle. Usually a bottom forms between day 18 – 28. With the Fed meeting next week and considering that it’s now in the timing band for a move into a cycle low, it’s probably a freebie trade for the bears to short gold at least into the FOMC meeting.

    We still need some indication that gold has formed a final yearly cycle low. I assumed it occurred on April 16th but we just haven’t had a strong enough bounce to confirm it yet.

    At this point it looks like the bears have an opportunity to make one more lower low in the days ahead.

    I think that would be a final bottom though.

    If not then I would have to seriously consider that the manipulation has successfully terminated the secular bull market. Hard for me to believe, but I did see the Fed abort what should have been the most extreme left translated 4 year cycle in history in the stock market in 2009. So I guess anything is possible.

    • On June 13, 2013 at 11:35 am,
      Matthew says:

      That the Fed was able to abort what should have been the most extreme left translated 4 year cycle in history is nothing compared to aborting this secular bull market. Unless the Fed’s owners or friends are willing to meet demand by sacrificing their own gold, I don’t believe there is any chance that they can end the bull market. They are simply trapped. I also don’t believe that it is their intention to end it. They just want as few people as possible on board before each major rally. If anything, it looks like they are managing the market to ultimately obtain the highest price possible. With the public now out and extremely bearish, the next rally has all the price-chasing bag-holders it needs to extend the next move. We’ll see panic buying before it’s over.

      • On June 13, 2013 at 11:43 am,
        Marc says:

        Matthew (professor 🙂 ),
        Wholeheartedly agree. June 2013 is the final month of “gold trashing” party of the market duppers?

      • On June 13, 2013 at 3:35 pm,
        Big Al says:

        I still don’t think we will see a drop below $1321 and if we do I personally think that it will be short lived.

        Too much crap going on!

        Big Al

  7. On June 13, 2013 at 10:00 am,
    Derek says:

    Well, if gold is rigged, why should we be invested in it. What concrete evidence does anyone have that manipulators will stop being successful? I know all about gold’s fundamentals, but how specifically is that going to overcome the rigging, considering how important it is keep gold suppressed?

    • On June 13, 2013 at 10:52 am,
      Bird Man says:

      Good point Derek. The spec community is now so small they have little or no leverage over price and what happens overseas hardly dictates where and how metal prices are set. There is little doubt the trend is still down. Charts back me on that although I would tend to think a suckers bounce is now quite overdue and it will pull a lot of money back in…….just in time for the next big decline that will satisfy all those shorts. I would exercise a little caution if it starts rising soon.

      • On June 13, 2013 at 3:38 pm,
        Big Al says:

        Always gotta exercise caution in these crazy markets, Bird!

        Big Al

    • On June 13, 2013 at 11:45 am,
      benb says:

      Derek, Mr. Price has your answer, it is at 321 gold today.
      Copernicus, Galileo and Gold Hugo Salinas Price plata

    • On June 13, 2013 at 3:36 pm,
      Big Al says:

      Hi Derek,

      Ever heard of the old Erik Burdon song with the words, “just how long can a good thing last”? Take out the word good.

      Big Al

  8. On June 13, 2013 at 10:10 am,
    Dai Uy says:


    The regulators and the Big Boys can and do manipulate the paper market; It will be nearly impossible for them to rig the physical market long term as the 2 markets will eventually bifurcate in view of the increasingly economic savvy world wide investment community. Patience.

    • On June 13, 2013 at 10:15 am,
      gary says:

      Exactly the physical market will eventually break any and all manipulation. We are already seeing arbitrage buying artificially cheap gold and then shipping it to China where premiums are $30-$40 higher.

      It will eventually drain all available physical gold from the west to the east.

      Manipulation can only last until we run out of physical. We tried price controls in the 70’s. They didn’t work then and they won’t work now.

      • On June 13, 2013 at 3:39 pm,
        Big Al says:

        I do agree Gary!

        Big Al

    • On June 13, 2013 at 2:22 pm,
      Marc says:

      Spot on, my friend!

  9. On June 13, 2013 at 10:11 am,
    BJ says:

    Mr. Grandich couldn’t have said it better. The only reason this isn’t prosecuted as criminal activity is because CFTC officials are either too corrupt or too scared to step up and stop it (probably both) and our elected officials are so tethered to the power elite that they dare not close the loopholes that blur what would otherwise be illegal.

    A few weeks there was a short blip across Bloomberg’s banner reporting that the SEC/CFTC were no longer interested in overseeing swaps among the (foreign) subsidiaries of the major (multinational) ‘banks’. Today, we hear of legislation coming out of the House limiting government authority over swaps. Am I comparing apple to oranges or is this a continuation of the merger of organized crime with organized government–another shovelful upon the dung heap that’s burying the free markets?

    • On June 13, 2013 at 3:40 pm,
      Big Al says:

      But ultimately, BJ, the free markets will come back.

      Big Al

  10. On June 13, 2013 at 10:21 am,
    JERRY the Long..................O^OTB says:

    First……I think we can safely say that ALL the markets are rigged
    Second…..I think we can safely say the Govt. is rigged……
    Thirdly…..I think we can safely say the Education system is rigged….
    Fourthly…. I think we can safely say the Interest Rates are rigged…..
    Fifthly…..I think we can safely say the Govt. is BROKE and on loose rigging
    Sixthly……I think we can safely say the Real estate market is rigged…
    Seventhly….I think we can safely say the Banks are rigged……
    Eighthly…..I think we can safely say the Bond market is rigged….
    Ninthly…….I think we can safely say our Food supply is rigged…GMO
    Tenthly……I think we can safely say our Medical system is rigged
    Eleventhly.. ..I think we can safely say our….WHAT THE HELL IS LEFT…….


    • On June 13, 2013 at 10:28 am,
      JERRY the Long..................O^OTB says:

      OH….the solution……….stop playing with cheaters, liars , and crooks….
      because you can never win……….

      • On June 13, 2013 at 3:41 pm,
        Big Al says:

        I am convinced there are profits to be taken if one understands the game.

        Big Al

        • On June 13, 2013 at 4:38 pm,
          Jerry(Gator)M says:

          How about a segment on understanding the game? A lot of investors are still in the dark. Regards.

    • On June 13, 2013 at 11:04 am,
      BJ says:

      RE: “what the hell is left….” The 12th day of Christmas, of course, and I want a helicopter for mine.

      • On June 13, 2013 at 11:12 am,
        Dai Uy says:

        Thank goodness we still have our Fairy Godmother and the Good Tooth Fairy……………………………………

        • On June 13, 2013 at 11:16 am,
          JERRY the Long..................O^OTB says:

          man that is way to many fairies for me……………….(can I say that)

          • On June 13, 2013 at 3:43 pm,
            Big Al says:

            You can only say that if you are a redneck from somewhere around Idaho!

            Big Al

      • On June 13, 2013 at 11:15 am,
        JERRY the Long..................O^OTB says:

        BJ……I think we will give you UNCLE BEN’S when he is finished with it……ok…..

      • On June 13, 2013 at 2:23 pm,
        Marc says:

        HA!!…I’ll take the back seat, ok?

        • On June 13, 2013 at 3:16 pm,
          BJ says:

          Sorry Marc, it’s already full of Bernanke dollars.
          Gotta wonder where they came from cause they weren’t there a few seconds ago.

          • On June 13, 2013 at 3:23 pm,
            JERRY the Long..................O^OTB says:

            it is the new experimental notes Ben is printing…..he takes an eraser, rubs out the first number and adds as many zeros as he wants………

      • On June 13, 2013 at 3:42 pm,
        Big Al says:

        I’ll take up is being thrown from the helicopter. (Short term anyway!)

        Big Al

  11. On June 13, 2013 at 10:22 am,
    Dick Tracy says:

    I bought a soldering iron the other day and I noticed it was assembled in Ireland actually it came as part of a package that included some old metal English biscuit tins, also there were instructions on how to store silver coins by sealing them in these containers and burying them outback under the outhouse, it’s nice to see the entrepreneurial spirit alive and well in Ireland these days. DT

    • On June 13, 2013 at 10:30 am,
      JERRY the Long..................O^OTB says:

      DT……..I think IRISH….started a new business, since he is close to finishing the tunnel assignment…….ootb

      • On June 13, 2013 at 10:48 am,
        Dennis F. Brophy says:

        Perhaps he`s a mole. Or is operating under a new handle.

        • On June 13, 2013 at 10:59 am,
          Dick Tracy says:

          It’s the cocktail hour, Guinness Tea Time. DT

          • On June 13, 2013 at 3:45 pm,
            Big Al says:

            I am actually headed out shortly to buy a couple of 4 – packs!

            Big Al

      • On June 13, 2013 at 12:31 pm,
        Marc says:

        Maybe we should go across the pond – pay him a visit – and drag him out of the pub; then shower him with silver rounds – that will SOBER him up real fast!

        • On June 13, 2013 at 1:37 pm,
          JERRY the Long..................O^OTB says:

          Marc…..I wish he would hurry back…..I am still waiting on his JAN 2013 predictions,,,,maybe, things are changing faster than he can write…..or maybe ,he is still working on the VEGAS ACT……..but, bottom line…..should would like to hear from him……………..

          • On June 13, 2013 at 3:46 pm,
            Big Al says:

            I think that all of us would, The Short!

            Big Al

    • On June 13, 2013 at 3:44 pm,
      Big Al says:

      It is absolutely amazing, Palooka Joe, just how many great ideas are produced by the Guinness indulgence!

      Big Al

  12. On June 13, 2013 at 11:44 am,
    Irwin says:

    “It takes patience and courage to stay the course amid a groundswell of proclamations that the “gold trade is dead,” but our positive outlook isn’t based on stubbornness. The evidence from history is very clear: you cannot solve debt problems with more debt, nor strengthen an economy by destroying your currency. Eventually, these sins catch up to you.

    “…position yourself for what’s ahead with gold – in an exclusive video event titled Gold: Dead Cat or Raging Bull? The webinar will be held Tuesday, June 25 at 2:00 p.m. EDT.”


    • On June 13, 2013 at 12:14 pm,
      Andrew de Berry (Rev) says:

      Thanks Irwin

      • On June 13, 2013 at 1:27 pm,
        Irwin says:

        You are most welcome Andrew;

        I’ve stopped listening to most interviews and reading articles from gold sites; I mean, what’s Eric King or Trader Dan gonna say that I haven’t heard before?

        But this webinar (at the above link) could be good for a laugh; if I’m not mistaken, Jim Cramer is one of the participants. What the …? – no clue what he’s doing there or what he’ll say.

        • On June 13, 2013 at 2:14 pm,
          Bird Man says:

          Good call. like I said in another post, Irwin…..trust your own instincts now. Forget the experts. They have all been wrong and odds are you know as much or more than them anyway.

      • On June 13, 2013 at 2:25 pm,
        Marc says:

        Ditto, thanks..Irwin!

    • On June 13, 2013 at 3:47 pm,
      Big Al says:

      Yep Irwin,

      Thanks for the link!

      Big Al

      P.S. four of the guys will be on the upcoming Weekend Show. We have devoted the first hour to them.

  13. On June 13, 2013 at 11:54 am,
    benb says:

    What do we do? I have about 5% in the markets, they are crooked, I have played many poker games with cheats and understand a few things. I dont keep more cash than I need for a couple months expenses.I prefer money. I dont have anything stored for me, thats counterparty risk, I dont own more than I can carry, too much silver?buy gold, too much gold? buy diamonds.

    Obviously I would own land oil wells fishboats farmland etc if I could, diverifiying.
    For most people that doesnt happen.

    I dont prepare for the “mad Max” scenario, not interested in living that way, but I do own a few months medicines food etc for disruptions in the supply chain.
    Excluding major war, things will get worked out, if we have a major war? Be glad you kept that extra good bottle of whisky around. And kiss the kids good bye. Because next time, its over baby.

    • On June 13, 2013 at 3:49 pm,
      Big Al says:

      Very good points, benb!

      By the way I recommend Glenlivet 15 or 18 year!

      Big Al

  14. On June 13, 2013 at 12:30 pm,
    Andrew de Berry (Rev) says:

    bemb you sound like a really decent guy. Nor would I want to offer you any clichés like it’s gonna all be OK, because where uncertainty rages not one of us knows how it’ll all pan out.
    Down through the centuries uncertainties have raged to such an extent that, like now, it looks like the end of the world. As always the megalomaniacs create havoc, with the Middle East looking increasingly ominous what with the Syrian conflict spilling across into Lebanon, even as Israel may go it alone against Iran with or without the Obama leash.

    But for me my faith helps transcend all fear and anxiety. Someone better versed in the Bible will tell us where the text comes from, but I regard it as an unassailable truth that ‘If God is for us who can be against us’?

    Humanly speaking we have every right to feel terrified, but not if we entrust ourselves to the Divine One!

    • On June 13, 2013 at 12:50 pm,
      Bird Man says:

      You know, Rev, I actually stood on the plains of Megiddo. Walked around, kicked up a bit of dust and picked over the usual assortment of artifacts that are strewn across Israel. Bits of ceramics, mosaic tiles and the like. I really did not get much of a feeling of foreboding about the place that is supposed to host the last battle at the end of the world. Armageddon might be coming but I don’t think it will be there. Too peaceful really. A really nice agricultural valley covered in green crops and flowers. It is just symbolic more than a real battlefield as I see it but what do I know about Gods will. Guess we all find out when the big book is opened and see whose names are in it. Yikes!

      • On June 13, 2013 at 1:06 pm,
        Andrew de Berry (Rev) says:

        Thanks Bird Man. I too have visited Megiddo so I’m not one of those who subscribe to exact geographical locations as to where it may or may not all happen.

        Apologies by the way if I stray into the realms of rudeness with your good self. I guess we’re all getting fraught with the current uncertainties.

        Best, Andrew

        • On June 13, 2013 at 1:42 pm,
          JERRY the Long..................O^OTB says:

          IRON SHAPENING IRON…………….plus we will need a double edge , just , to cut thur the next phase…………………….

        • On June 13, 2013 at 2:11 pm,
          Bird Man says:

          No sweat, man. All forgiven. I never hold a grudge anyway. Too much effort for no reward.

          • On June 13, 2013 at 2:27 pm,
            Marc says:

            Bird man…nice, very nice comment…all the BEST!

          • On June 13, 2013 at 2:42 pm,
            Andrew de Berry (Rev) says:

            Amen to that!

    • On June 13, 2013 at 3:52 pm,
      Big Al says:

      From Romans, Rev (but I’ll bet you knew that!)

      “If God is for us, who can be against us?”

      In the context of Romans, chapter 8, the apostle Paul wants us to think about the things that God has done for us and continues to do for us; especially when it comes to the salvation of our souls. And he wants us to think about these things in comparison to the misfortunes and the difficulties that we may have to go through – to understand that there is NOTHING that can defeat God’s purpose for us, if we maintain our faith in Him. For he says: “Yet in all these things we are more than conquerors through Him who loved us” (Romans 8:37).

      • On June 13, 2013 at 5:57 pm,
        Marc says:

        Amen and RIGHT ON Big AL!!

      • On June 13, 2013 at 8:04 pm,
        Dennis F. Brophy says:

        Amen, Al. …….. Take heed, brethren, lest there be in any of you an evil heart of unbelief, in departing from the living God. But exhort one another daily, while it is called today; lest any of you be hardened through the deceitfulness of sin. Hebrews 3:12-13. … *Submit yourselves therefore unto God.<<<< *Praise & *worship God through the power of the name of Jesus, speaking to yourselves in psalms & hymns and spiritual songs, singing and making melody in your heart to the Lord Jesus. Ephesians 5: 19-21. Then you can: Resist the devil, and he will flee from you as in terror. For God inhabits the praises of His people. …… Praise God & His Holy name – JESUS, is His name……. Jesus is the Christ…..

      • On June 13, 2013 at 10:45 pm,
        Andrew de Berry (Rev) says:

        Thanks Al…glad that I drew you on some more!! This gold correction merely lets those inclined to panic to do so, while for others it is no more than a ‘golden’ opportunity to grow in faith.

  15. On June 13, 2013 at 1:43 pm,
    Keep Stacking says:

    Yes, and the Divine One choose solid gold in one piece, fabricated and hammered by two brothers into the ARK.

    • On June 13, 2013 at 1:50 pm,
      JERRY the Long..................O^OTB says:

      ARK…do not forget shittem wood………with overlays……..and is still in Etheopia

  16. On June 14, 2013 at 6:13 am,
    jhpace1 says:

    If I had to advise a new “eyes opened” investor I would A.) tell them to be debt-free, B.) tell them to have 1-3 months cash, C.) tell them to be a survivalist at home, preparing as if a hurricane/EMP was coming, and then D.) invest in precious metals. Physical bullion and 90% silver first, then to dip their toes in the water with junior mining stocks. The percentage of their net wealth dedicated to precious metals is up to them.

    But for us long-term believers (since 2004 for me), there’s not much we can do other than dig in deeper to the bunkers and hang on. Yes, I’ve taken losses. Horrendous losses. But I haven’t sold out yet. We should all be soaring high on $10,000 gold and $600 silver. Instead we’re the ones in the bread lines while the bankers and the money managers shout how all is well from their skyscrapers. It’s not right, it’s not fair, but all you can do is wait out the manipulation.

    • On June 14, 2013 at 8:03 am,
      Dennis F. Brophy says:

      Why don`t you go out & find a gold deposit & mine your own gold mine, even some placier mining could get back in the black. Produce gold on a small amount of ore eg., Start reading how to mine for gold yourself, instead of hoping for gold to come down in price. I have a 2nd cousin that goes out on week-ends and finds thousands of dollars in gold, so its not that hard. Plus I have a gold, silver PGM deposit myself thats really rich in metals, though it is using a chemical process I`ve come up with over several years. Its amazing how much iron ore I have in my deposit, then have as much gold, Pd, Pt, & silver there is in it. Just start reading like eg. California Division of Mines handbook or whatever State you are in then get a resource handbook on what mines operated in your neck of the woods you live in. In times past people didn`t have what we have today – Knowledge on how to increase yield in an ore body. Just a thought…….

      • On June 14, 2013 at 8:25 am,
        Dennis F. Brophy says:

        OOOPS on spelling I mean…….. instead of hoping for gold to go `up` in price. I have a 2nd cousin……….