Weekend Show – Sat 22 Jun, 2013

Economic and of course political events

Hour 1 : 

Click download link to listen on this device: Download Show

Hour 2 : 

Click download link to listen on this device: Download Show

What a week this has been! We discuss both the economic events and, of course, the political events that took place with our usual group of expert guests from both arenas.
Hour 1:
  • Segment 1: John Embry opines on the downfall of gold which climaxed on Thursday.
  • Segment 2: Marshall Berol of the Encompass Fund continues the discussion started by John by asking the question, “Did anything of consequence cause the gold markets and conventional markets to fall so dramatically?”
  • Segments 3 and 4: Big Al, Jeff Deist and Glen Downs, Chief of Staff for Congressman Walter Jones, discuss the political events consisting of the NSA revelations and the illegal alien situation.

Hour 2:

  • Segments 5 and 6: Valentin Schmid, reporter for The Epoch Times, reports on conditions in Mainland China.
  • Segment 7: Never at a loss for words, Dan Pisenti CPA, wonders about the effectiveness of the current U.S. administration. 
  • Segment 8: Big Al wraps up the show with Jay Taylor and Alan Butler discussing investing.

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


Al KorelinJeff DeistCory FleckJohn EmbryMarshall BerolValentin Schmid
Dan PisentiJay TaylorAlan ButlerGlen Downs

  1. On June 22, 2013 at 3:17 am,
    Marc says:

    Hey all:
    ALWAYS wanted to be the first to post on a weekend show…it was on my bucket list…scratched off….done…phew!!! Hey, in all seriousness, I just couldnt sleep – I had a terrible nightmare that silver crashed to an intrinsic value of zero………OH, that is fiat currencies fate/destination – not silvers……….my bad. This to will pass and the PMs will again be shining through. Remember: A BULL market’s very nature is to throw as many fools…..er riders off and then blast upward….dont be a fool…be LONG or be wrong…..
    All the best,

    • On June 22, 2013 at 7:23 am,
      JERRY the Long..................O^OTB says:

      Your nite mare….was the devil, throwing darts….MARC………

    • On June 22, 2013 at 10:09 am,
      Big Al says:

      Hey Marc,

      Let me know what you think of Saturday’s Liberty Express Radio.


      Big Al

      • On June 22, 2013 at 11:38 pm,
        Bird Man says:

        Hey Al, are you forgetting anything?

        Maybe you recall last month that you bet me a bottle of wine Gold would not fall below 1321 dollars. I took your bet and then ante’d up and offered to have a bottle delivered to your favorite Vancouver Hotel via my personal credit card within one year if you were right.

        And I was good for it and would have happily paid up except privately I knew it would never happen. As I told you my confidence levels about gold falling were extremely high

        (I KNEW you were going to lose this bet).

        Now I don’t want to make you eat Crow or anything (especially as I am of the avian persuasion!) but a little hat-tip to the Bird Man is in line since I have been pretty damn accurate about the future of gold so far. All bets will be forgiven of course and since I don’t drink anymore it was a lousy deal for me anyway to be honest.

        So Al? Your 10,000 readers and listeners might just be curious about your nature as a betting man. Give the birds a stroke buddy…they earned it!

        • On June 23, 2013 at 10:14 am,
          Mark Alan says:

          And we still may have further downside to go, Birdman. I don’t think we are going to reverse course immediately from here. Bottoming is a process, not an event.

          • On June 23, 2013 at 10:17 am,
            Bird Man says:

            Agree with that, Mark. The outlook has worsened.

          • On June 23, 2013 at 2:23 pm,
            Benb says:

            I think its 321 that has a $900 article. But I am going to stick with my guess, not much below $1000. $1000 should be psychological too, but I guess you could say the “bad” guys know that so it will get hit hard there, flip a coin I guess, but I stick to my $1000.

          • On June 23, 2013 at 6:54 pm,
            Mark Alan says:

            I’m also sticking with my target $1050ish. Give or take $50.

    • On June 24, 2013 at 8:14 am,
      Brad H. says:

      Marc/Big Al, I heard a thought in the first interview that is a very significant thing in my mind… and quite frankly a horrible manipulation of the truth. PM investors like us represent a very small portion of society. The vast majority of low to middle income folks are being manipulated into believing that PMs are no longer worth anything. This is a travesty as it is these people who will be hurt the most in a coming collapse.

  2. On June 22, 2013 at 4:27 am,
    Andrew de Berry (Rev) says:

    Nice one Marc – you beat me to pole position!

    • On June 22, 2013 at 4:38 am,
      Andrew de Berry (Rev) says:

      Thanks Al and John,

      I’m starting to enjoy all this at last….only takes a black swan or three and the PM rocket starts to rev, Rev, Rev, Rev

    • On June 22, 2013 at 7:56 am,
      BJ says:

      It’s not where you start; it’s where you end up.
      ….And it’s a rough and rocky road we travel.

    • On June 22, 2013 at 8:23 am,
      Marc says:

      Thanks guys…….the devil made me do it….Jerry…glad Irish is OK…..had me worried that silvers volatility drove him “crazy”. Then I thought to myself….hell no, it is IRISH we are talking about here! That guys is as tough as NAILS! :). God bless ’em!

      • On June 22, 2013 at 2:47 pm,
        JERRY the Long..................O^OTB says:


    • On June 22, 2013 at 10:10 am,
      Big Al says:

      And that Reverend is because he sold his Infinity and bought a BMW!

      Big Al

      • On June 22, 2013 at 11:06 am,
        Marc says:

        Hey Al,
        You forgot to say a “old” infinity….but a goodie….I love that car….what a “rocket ship”!

        • On June 22, 2013 at 12:03 pm,
          Big Al says:

          actually it is pretty cool

          Big Al

  3. On June 22, 2013 at 5:48 am,
    CFS says:

    Big Al;
    You might want to take a look at my input late Friday on the Liberty Radio segment comments.

    Specifically: What do you think about the Sentinel court decision, which broke millenia of anglo-saxon law to favor big business.
    Secondly, do you have any comments about the CIA getting into the venture capital business to drive technology of spying and eaves-dropping?

    • On June 22, 2013 at 10:17 am,
      Big Al says:

      Here is what, I believe, you are referring to:

      Sentinel ruling may hurt MF Global clients
      Thu, Aug 9 2012

      By Tom Polansek and Ann Saphir

      CHICAGO (Reuters) – A ruling in the case of failed futures brokerage Sentinel Management Group could make it more difficult for customers to recoup money lost in the much larger collapse of MF Global, according to Sentinel’s bankruptcy trustee.

      A federal appeals court on Thursday upheld a ruling that puts Bank of New York Mellon ahead of former customers of Sentinel in the line of those seeking the return of money lost in the 2007 failure of the suburban Chicago-based futures broker.

      The appeals court affirmed an earlier district court ruling that the bank had a “secured position” on a $312 million loan it gave to Sentinel, which turned out to have been secured by customer money.

      Futures brokers are required to keep customers’ funds in dedicated accounts to protect them from being used for anything other than client business.

      However, Thursday’s ruling suggests that brokerages can use customer funds to pay off other creditors, Sentinel trustee Fred Grede told Reuters.

      “I don’t think that’s what the Commodity Futures Trading Commission had in mind” with its requirement that brokers keep customer money separate from their own, he said.

      “It does not bode well for the protection of customer funds.”

      Worse, Grede said, is that the ruling suggests that a brokerage that allows customer money to be mixed with its own is not necessarily committing fraud.

      That may raise the bar for proving that MF Global Holdings Ltd, under then-CEO Jon Corzine, misused customer funds as it scrambled to meet margin calls to back bets on European debt in the brokerage’s final days. A $1.6 billion customer shortfall remains.

      Corzine has said he did not know about the transfer of any customer money.

      “I’m sure Mr. Corzine’s attorneys will get ahold of this ruling and use it for all it’s worth,” Grede said.

      A lawyer for Corzine, who has not been charged with any crimes, did not immediately respond to a request for comment.


      CME Group Executive Chairman Terrence Duffy, whose firm was MF Global’s frontline regulator, has said MF Global made unlawful transfers of customer money to plug its own liquidity needs.

      James Koutoulas, head of the Commodity Customer Coalition, which has been an advocate for MF Global clients, said Corzine could still face scrutiny for the transfers.

      The Sentinel ruling is “not an end-all-be-all acquittal for Corzine,” he said.

      Sentinel allegedly pledged hundreds of millions of dollars in customer assets to secure an overnight loan at Bank of New York Mellon, leaving the bank in a secured position but Sentinel’s customers out millions.

      Customer funds were allegedly moved from the protected accounts to other accounts so they could be used as collateral for loans to Sentinel’s own trading operations.

      The appeals court said that “perhaps the bank should have known that Sentinel violated segregation requirements” but agreed with the district court’s earlier ruling that “such a lack of care does not rise to the level of the egregious misconduct” needed to reprioritize a claim.

      “That Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud’ its customers,” U.S. Circuit Judge John D. Tinder wrote in the ruling.

      The decision was a blow for Grede, who had sought to strip Bank of New York Mellon of its secured position.

      Sentinel, whose customers are missing about $600 million, largely managed money for other futures brokers, delivering outsized returns that, Grede says, were juiced up by improperly using customer money to secure loans that went to fund risky trades.

      The scheme unraveled when the credit crisis hit in the summer of 2007.

      (Additional reporting by Jonathan Stempel in New York; Editing by Gary Hill and Phil Berlowitz)

      I personally do not agree with that decision.

      Regarding the CIA, I personally do not agree with the technology of spying.

      Big Al

      • On June 22, 2013 at 3:32 pm,
        CFS says:

        The most worrying thing to me is that even though Sentinel knowingly broke the law by taking clients supposedly segregated accounts and using them as collateral, the judgment was in favor of the bank that impounded and sold off the collateral.

        If I came to your house and stole your TV and sold it to a pawnbroker, anglo-saxon law has for millenia held that stolen property remains the property of the original owner even if stolen and sold off. This is the first time ever a court has gone against such concept to my ki0n0owledge. It was diff+ere+n+t from MF Global in that Sentinel admitted that it acted illegally in pledging the assets as collateral.

        • On June 22, 2013 at 3:35 pm,
          CFS says:

          Don’t you hate when a touch screen puts in extra stuff just because you little finger is near!….knowledge ……different

  4. On June 22, 2013 at 6:07 am,
    CFS says:

    I totally agree with segment 7. The biggest danger to a free society is a corrupt or biased press.

  5. On June 22, 2013 at 6:13 am,
    CFS says:

    The second biggest danger is an Attorney General, who blocks investigations or fails to investigate wrong-doings.

  6. On June 22, 2013 at 6:21 am,
    Dick Tracy says:

    It is always hard to mobilize an unimaginative public against a vague threat but what is happening in Brazil can show up at any time when people finally feel cornered by corruption, and the loss of standards in their lives brought about by special interest groups. DT

    • On June 22, 2013 at 8:33 am,
      Marc says:

      Very, very interesting…I think”deadly” accurate..if you get my drift…good post – DT

  7. On June 22, 2013 at 6:32 am,
    Dick Tracy says:

    I like the term “racket” which came of age during the late nineteen twenties because it refers to a condition whereby the public cannot turn to authorities to site injustices because they are afraid that the people who are supposed to look after their needs are also frightened or fixed. DT

  8. On June 22, 2013 at 8:38 am,
    MNH says:

    Could listen to John Embry all day…………………

  9. On June 22, 2013 at 8:39 am,
    benb says:

    •Segment 1: John Embry opines on the downfall of gold which climaxed on Thursday.
    There is no way to know that.

    “The juniour sector is cheaper than it has ever been”, I dont think so, it was alot cheaper to me after the 08 crash. No offence but sounds like pumping.

    Will timmins go up 6 times from here? First Majestic quadruple? the list is long and I know of 50x increases, (was copper tho not gold/silver). we will see, but from what I see 08 was cheaper
    I have to agree with your Honk Kong gentlman, it might be wise to consider options other than gold/silver long. HGD for example tripled in 3 months. gold short.

    I do like Mr.Embry, but if a person were to check kwn you would find he has been saying “to the moon” for some time now. Kitco fired Nadler for being wrong that long.
    How long do people listen to people that continualy use “in the long run” to justify what they say?

    Lets be honust, IMO the J Turk thinking is pretty good,for whatever reason,insurance investment etc. If a person wants to put money in these markets they are gambling.
    Yes, you can increase your odds of winning with research. (pot odds 6-1, draw odds 4-1,= good bet, but still gambling even if “the long run” should pay off)

    But, we should all know, the markets themselves are manipulated and criminal, the brokers literaly own your cash just like banks, you are gambling they will give it back to you even if you pick a winner. Then there are crooked inept or just plain dreaming companies, that excludes nationalization cave ins etc. All gambling.

    I understand it is unwise to critique the hand that feeds you but deception or misleading is what all these protests around the world are about, slowly people leave these markets, there is no “price discovery” anymore, maybe they have to shut down completly and be rebuilt. I do like Mr Embry, dont get me wrong, but check his record since gold was $1900. If he or anybody really understood what was going on, they might have said, “geez, maybe its time to put 5% in a short gold position just to insure ourselves, like 5% gold insures us” lol

    I believe that when we are honust with people, and they understand what their doing and getting into, they are more likley to participate. The climax was thursday?
    We shall see.

    I understand that gold/silver will increase, but so will everything. Unless it doesnt.

    • On June 22, 2013 at 10:39 am,
      Dick Tracy says:

      benb, I would not buy any stocks right now because margin loans are at a new all time high and if you study history once the market starts breaking even a small amount we will see forced selling of these margin accounts and then everything will follow The Dow including precious metal stocks and if you recall what Rick Rule said ” he expects to see a stock puke” just before the bottom is in”. DT

      • On June 22, 2013 at 10:39 am,
        Dick Tracy says:

        This is not 2013 but rather the summer of 1929. DT

        • On June 22, 2013 at 11:02 am,
          benb says:

          DT, I agree, maybe the short side may still be profitable.

        • On June 22, 2013 at 11:06 am,
          Al Korelin says:

          That, Machine Gun, is an interesting g point!

          Big Al

        • On June 22, 2013 at 3:36 pm,
          CFS says:

          Maybe 1934

    • On June 22, 2013 at 11:04 am,
      Al Korelin says:

      Ben b,

      I agree with a lot,but not all, of what you are saying.

      To me personally the market is much cheaper today than it was in 2008,

      Big Al

      • On June 22, 2013 at 11:54 am,
        benb says:

        Al, which shares will 5-10 times from here? even if gold goes to $2000, my thinking is the shares would only go to where they were when gold hit $1900. that doesnt make alot of them 5-10 baggers.
        Some maybe, svm? but they have issues now they didnt then but maybe.
        Timmins, a great one, went from .50 cents to $3.50. to do the same would be Now $2.50 to $15 but it wasnt even close to that at gold $1900.
        Maybe I just dont see these “crushed” shares that are as cheap now as they were in 08, maybe a program talking about this topic and listing them might be interesting to people? Is that possible?

        • On June 22, 2013 at 12:05 pm,
          Big Al says:

          I have some that I think will. Canasil; New Zealand Energy; Clifton Star; Corvus; International Tower Hill Mines; and, others.

          I am personally counting on it, but time will certainly tell.

          Big Al

          • On June 22, 2013 at 1:59 pm,
            Dick Tracy says:

            Since we are still allowed to reply to comments, I must put in my 2 cents and I don’t believe in New Zealand Energy, or Southern Arc. DT

          • On June 22, 2013 at 2:11 pm,
            Dick Tracy says:

            By the way Al, I didn’t make that last statement in regards to your blog, I simply meant we can never tell when our freedom of expression will be challenged. DT

          • On June 22, 2013 at 3:11 pm,
            benb says:

            i checked them out Al. I was surprised. I havnt checked to see if any of these are producers,debt etc which may explain the beating they got.
            My shares have held up incredibly well compared to your list,but maybe just from where I bought them, I bought all producers,no debt lotsa good stuff yadda yadda. But I have still taken a beating.

            Of particular interest, not that I am buying it as its on the american market, was international tower hill mines, opened at $1 and peaked at about $10.00 now 51 cents.
            If It was not on the american markets I would investigate that one..
            But I guess I have to admit for alot of companies we are where we were after the 08 crash.
            Maybe we are getting close to the time to buy. but you might have been saying that already.

          • On June 22, 2013 at 3:47 pm,
            Dick Tracy says:

            benb, I also like ITH but I am waiting because I believe good things happen when you wait, and if selling starts anew you just might be able to get in on a stink bid, which may get reached when the panic sets in and you have the liquidity. Never underestimate a market on it’s way down, investors will place their shares at the bid when the fear is on and the bottom always will surprise. DT

          • On June 23, 2013 at 1:44 pm,
            Bentnail says:

            DICK TRACY:

            New Zealand Energy can only go up from here (IMO). If you have not yet loaded up on cheap shares you may want to – the company is now in a great position to smash the ball out of the park. I believe that that is exactly what they are about to do!

    • On June 22, 2013 at 11:14 am,
      Mark Alan says:

      Ben B

      Well put! I agree that there is no way of knowing whether gold/silver climaxed on Thursday. We’ve been hearing this spew far too much, each and every time the metals get hit. Sorry, but I’m going to make my own determinations on that one.

      • On June 22, 2013 at 12:06 pm,
        Big Al says:

        And that, Mark Alan, is absolutely the only intelligent thing to do!

        Big Al

  10. On June 22, 2013 at 9:24 am,
    Ann says:

    Segment#8… Very interesting point of views on Snowden.

    • On June 22, 2013 at 11:07 am,
      Al Korelin says:


      How do you feel about that?

      Big Al

      • On June 22, 2013 at 11:38 am,
        Ann says:

        Big Al,really dont know much about the issue.Havn’ t been around the TV for a week or so and get the “experts” take.But i really respect your guests,Taylor and Butler,so for the time being,i am going to have to side with them.

        • On June 22, 2013 at 12:07 pm,
          Big Al says:

          Thanks for your opinion.

          Big Al

  11. On June 22, 2013 at 9:54 am,
    clay says:

    “Not all in one basket”, OK, but how do you protect your assets when everything goes down?

    The entire worlds economy is predicated on fiat money which is debt. When populations begin increasing such as after WWII, growth can be rapid as credit in the form of debt is increased, but eventually the demographics change where the spread between age groups increases because it becomes impossible to maintain the living standards for everyone. This is when wealth and power begin to accumulate into the hands of a few with an increasing percentage of population experiencing a decrease in wealth and standard of living. As this process proceeds the concept of diversification for safety becomes the objective.

    The real question everyone needs and wants to know is, How Bad can it Get?? If you believe that it can get really bad such as world war, then diversification won’t help you nearly as much as safety both financially and living wise.

    How bad do you think it can get? I think you know my opinion, whats yours?

    • On June 22, 2013 at 11:09 am,
      Al Korelin says:

      Potentially Clay, I think it can get a lot worse.
      Big Al

      • On June 22, 2013 at 12:08 pm,
        clay says:

        Al, If by inference things CAN get a lot worse and I agree, then things are not likely to get better any time soon. I would infer by your many comments and thinking that you would believe things are probably going to get worse and not bottom or stay same.

        Al I do believe you would agree that in order for the economy to improve it will first require some major improvements in the Political situations both here in the US and international. Right now I do not see any chance for the political atmosphere in the US to clean up or improve for several years at least, this means the US economy is going to continue to decline with monetary actions increasing not decreasing. Europe and Japan are in same place politically, but are attempting different monetary policies neither of which are working. So in all these places Europe, Japan and US to name a few, monetary policies available under Keynesian based actions will not succeed forcing political change. Even China is in same situation.

        Next 5 years we are highly likely to see some very big changes in the political power structure of all these countries, and because it is my opinion that safety far outweighs both conventional and non-conventional diversification the move to safety will experience extremes. Things controlled by governments will loose safety as the political system comes under stress, bonds, currencies, bank accounts, insurance or anything controlled by government. We see this time and again in areas or extreme such as Argentina. Americans had better start planning for this accordingly.

        • On February 2, 2014 at 3:34 pm,
          Wiktoria says:

          Excellent, Walt! Glad you’ve joined us. Note, thguoh, that for scoring purposes, only one stable per person, so let me know which you’d like me to count. Good luck!

    • On June 22, 2013 at 1:29 pm,
      Jerry(Gator)M says:

      I think it will get a lot worse. As far as diversification: Where else do you put your money other than cash or PM”s. I’m not diversified and sleep very well. I’m all in on the metals and have been for years. If it goes lower and stays there, the kids get the gold and silver.

  12. On June 22, 2013 at 10:29 am,
    benb says:

    I think J taylor is great. I dont feel we actualy have “rights” givin to us by anyone or anything.
    I believe rights are fought for, earned and people that have earned them need to be vigilant that they are not taken away. I dont believe anyone or anything is going to give rights back to anyone should they be lost.

    After saying that, I agree with seg 8 big time, even if we aproach it from diferant perspectives.
    “step by step facism entrenches itself.
    Just a reminder, facist governments go back years to find diccent to persecute. The camps are already built, we as yet dont know who for. It could be anybody.
    Going to be very hard to change the path we are on, the average guy is “bright as a brick” patriotic, has religion and is missinformed.

    Camps sound crazy? So did “step by step we move to facism” a year or 2 ago.
    A facists government, eventually turns on itself, the U.S. is already the most incarserated country on the planet.
    It doesnt generaly end until cities are rubble, an argument could be made that is already happening.

    • On June 23, 2013 at 8:23 pm,
      Dennis F. Brophy says:

      From Dem Underground: In Pensacola, Fla., retired FBI agent Ted Gunderson tells a gathering of anti-government “Patriots“ that the federal government has set up 1,000 internment camps across the country and is storing 30,000 guillotines and a half-million caskets in Atlanta. They`re there for the day the government finally declares martial law, and moves in to round up or kill American dissenters, he says. “They`re going to keep track of all of us, folks,“ Gunderson warns. ….. Before his death in 2011, former FBI agent Ted Gunderson spilled the beans on what the Obama administration is planning… http://govtslaves.info/retired-fbi-agent-told-patriot-groups-that-obamas-feds-have-set-up-30000-guillotines/

  13. On June 22, 2013 at 10:30 am,
    Dennis M. O'Neil says:

    Increasing Velocity and the Selling of the Contrivances of Collectivism.

    For what it is worth….I link a WSJ BOOK REVIEW THINK PIECE with an ECONOMIC MOVIE OF THE WEEK.
    Now why would I attempt such a thing?
    Both of these illustrate the contrivances needed to spin the attributes of collectivism during the first half of the 1930’s. Both illustrate people concealing pathetic lives with failed attempts to redeem themselves by creating a collective unobtainable.

    The first offering is from today’s WSJ Article C7 titled “Selling the New Deal”. The review illustrates the contrivances of Lorena Hickok’s contributions claiming victory to Roosevelt’s New Deal. Claiming victory where none exists is difficult unless you have adopted the teaching of Karl Marx (which she certainly did.)http://online.wsj.com/article/SB10001424127887323582904578485680014938560.html?KEYWORDS=sELLING+THE+NEW+DEAL
    The movie of the week is a 1936 Phil Rosen directed collectivist propaganda piece titled “The President’s Mystery”. Streaming on Netflix. The plot is a contrivance that offers a collectivists’ Robinhood-esque but elitist progressive hero. It is interesting to watch if you exercise your critical thinking skills. But not far into the contrived plot even this endeavor does not remove the sorry blatant political message America was being fed in 1936 to somehow rationalize the mal-investment and perverse economic direction of the New Deal. It could be argued that the private collective action depicted was freedom of association…true…. but this was a devious device to compliment the involuntary governments actions of the same time as illustrated in the WSJ Book review linked to above.
    Both pieces settings are conveniently just prior to the depression within a depression or 1937. And as we survey where we are today it could be easily surmised we are in the economic equivalent of 1936 with the added danger of powder kegs of trashed currency waiting to be ignited by a spark called rapidly increasing velocity.

  14. On June 22, 2013 at 10:32 am,
    CFS says:

    How bad will it get?
    I travel a lot. I like to travel. I have five homes in 3 countries and typically visit a dozen countries a year. At the moment the world is changing as power transfers from the “West” to the “east”. The U.S. is in a state of decline and has been for about 20 years, morally and economically. Even in the US the situation is not uniform. Silicon valley still seems to me to be booming, never having suffered much of a decline.
    House prices for flat for a while, but are now climbing, software engineers not only have higher salaries than ever, but newly graduated engineers are in short supply.
    There are even some pockets in the rust belt where manufacturing is rising from the ashes, also in non-union states. On the other hand there are areas where unemployment is the norm.
    Now, to answer the question: How bad will it get?
    My answer: Not as bad as your worst nightmare, but in some places very bad. Other places will barely notice a depression. The “red” states in “fly-over territory” will do better than the east and west coasts, with the exception of silicon valley.
    There will be more sensitivity to state taxes and regulations.

  15. On June 22, 2013 at 10:48 am,
    scotty says:

    Constitution is great. problem is it was written in times when no high speed comunication was not possible. We got stuck with the electoral college[ compromise and a mistake] and a disproportion in the u s senate where the 2 senators from california represent over 30 million people , and 2 senators from south dakota represent maybee 800k people. its strange. the effect is we live in a urban , industrial country , but legislators from rural states [maine, R.I. , alaska] tend to bend the congress to ideas that are not responsive to the modern world. Senators should have a vote equal to thier state current population. We need massive political reform. And a move to a parlimentary system like canada or Sweden, would allow Snap elections and votes of no confidance , so you could get rid of a Premier [or president ] easily. And the sysytem of Federal Judges for life is rediculous . Vote third party if you have too . best to all S

    • On June 22, 2013 at 11:14 am,
      Al Korelin says:

      Interesting thoughts Scotty

      Big Al

    • On June 22, 2013 at 1:04 pm,
      CFS says:

      I believe you to be TOTALLY in error about the electoral college. The Senate was always intended to be a moderating body; one that slowed change. One that supposedly would be filled with statesmen, not seeking re-election, not spending much of their time seeking out money for their next election campaign.

  16. On June 22, 2013 at 11:33 am,
    Dennis M. O'Neil says:

    Recently, I posted a clip from Rod Serling’s classic Twilight Zone episode ‘Obsolete Man’.
    I will repost said clip immediately following this post.
    The clip came to mind when I read and viewed the illustration accompanying a fact laden editorial in the WSJ this week about the atrocities in store with the implementation of Obamacare. Read the WSJ editorial and assess the stray path we have been on for too long…….. misdirected!!!!…and ask yourself…….How far down the road to serfdom do you wish to travel?


    • On June 22, 2013 at 11:36 am,
      Dennis M. O'Neil says:

      “Obsolete Man”

      “Logic is an enemy and truth is a menace”


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

      Many thanks Dennis M,

      I had not finished reading the op-eds in the WSJ for yesterday.


      Big Al

      • On June 22, 2013 at 4:25 pm,
        Dennis M. O'Neil says:

        The article linked to above is a piece from Thursday!!!!!!!!!

    • On June 23, 2013 at 11:08 pm,
      Bird Man says:

      All states once facing a future funding crisis or a potential bankruptcy will become socialized and seek to provide the assurances of food, shelter and medical care for their citizens as an alternative to facing the social unrest that accompanies poverty, poor health and shortages of necessary goods.

      Think that through for a moment.

      • On June 24, 2013 at 8:37 am,
        Dennis M. O'Neil says:

        The Independent Payment Advisory Board ( IPAB) aka “death panel is not about protecting against as you put it “poor health” it is about controlling the populace, strictly rationing the “care” allowable to the to a universal population of the supposedly “covered”. People will realize it is healthcare they desire not health coverage. People will be shocked when they discover a person who has a stroke in their mid-seventies is prohibited the intervention of a neurologist. Those shocked will be afraid to speak up because they will realize the likelihood someday their care will be scrutinized by IPAB. “Oh what a tangled web we weave…….” 2200 plus unread pages voted on without reading in which the most common phrase is “The Secretary will decide” is an unfortunate huge step at creating an inescapable web. This result will be excused as a unfortunate unforeseen result of the do-gooder. This excuse should only allow mitigation to the dim witted useful idiots. The designers of this entanglement depersonalized cronyism medical miserable mess intended the evil result. The suffering they create is intentional.

      • On February 2, 2014 at 10:08 am,
        Marina says:

        It’s a real pluesare to find someone who can think like that

      • On February 3, 2014 at 1:07 am,
        Jessie says:

        Shoot, who would have thoghut that it was that easy?

  17. On June 22, 2013 at 12:59 pm,
    Simon says:

    Six weeks ago, 80+% of ALL stocks/equities were trading above their 50-Day moving average. That number has since declined to today’s 37%. Tremendous technical damage has been inflicted across the board.

    The next several weeks/months should prove interesting.

  18. On June 22, 2013 at 1:09 pm,
    Simon says:

    There is No organic growth in the economy. What supposed growth reported is that of the manufactured variety via Central Planning.

  19. On June 22, 2013 at 1:11 pm,
    CFS says:

    I usually tend to be almost 100% invested, but there is a time to be long and a time to be short. (I guess, when the market is going sideways is a good time to be out completely)
    I wish I had been short commodities, because that would have recently increased my portfolio instead of decreasing it. But I’m long mining and short bonds right now.

  20. On June 22, 2013 at 1:16 pm,
    Simon says:

    “Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety.” – Ben Franklin

    • On June 22, 2013 at 4:35 pm,
      JERRY the Long..................O^OTB says:

      GREAT QUOTE………….

      • On June 23, 2013 at 2:45 am,
        Bird Man says:

        Bullshit quote.

        • On June 23, 2013 at 3:54 pm,
          irishtony says:

          Bird……..How can you call the truth ,BULLSHIT ?

          • On June 23, 2013 at 5:45 pm,
            JERRY the Long..................O^OTB says:

            bird,,,,always likes to take the other side of an issue…………

          • On June 23, 2013 at 8:36 pm,
            Bird Man says:

            It is an early version of “You’re either with us or you’re are against us” as was uttered by George Bush when trying to motivate friendly nations to take similar dramatic actions as the US following the events of 9-11 and it serves to isolate rationale discussion (which usually takes time) and force action on others to support a cause directed by the strongest members. It is a form of wartime propaganda that is manipulative at its heart because it offers only two choices where only one can be taken without the consequences of looking like you are betraying your friends and allies. Both the slogans are catchy I would agree but both are manipulative as well and the subtext belongs more on the football pitch or words uttered by bullies. So yeah….it is a bullshit quote.

          • On February 1, 2014 at 9:13 pm,
            Sanju says:

            Now I’m like, well duh! Truly thkunfal for your help.

        • On June 23, 2013 at 10:09 pm,
          Bird Man says:

          More to the point, the idea contained in that quote has been hijacked from an earlier era of revolutionary fervor and taken over as a modern anthem of those who object to our current political systems and seek to incite weak minds in hollow social battles. It is recited continually by the right wing groups who are using it as a point of provocation in advancing a cause with little genuine merit and it has a threat implied that those who do not follow will suffer both a loss of liberty and freedom. As such it is counterproductive to a society based around the principles of democracy, choice and public debate and it is being used as a tool to create political divisions where none existed prior.

          • On June 24, 2013 at 4:03 am,
            JERRY the Long..................O^OTB says:

            then one will get what they are inclined to participate in……………

          • On June 24, 2013 at 4:31 am,
            Bird Man says:

            Are you the spokesman?

          • On June 24, 2013 at 7:53 am,
            JERRY the Long..................O^OTB says:

            NO just a born leader……………

    • On June 23, 2013 at 12:58 pm,
      Matthew says:

      I don’t know which one is correct, but there is also this one:
      “Those who surrender freedom for security will not have, nor do they deserve, either one.”
      ― Benjamin Franklin
      The important difference is “will not have.” Either way, I agree completely.

    • On June 23, 2013 at 1:07 pm,
      Matthew says:

      This goes perfectly with Ben Franklin’s assertion:
      “Those who expect to be both ignorant and free, expect what never was and never will be.”
      ― Thomas Jefferson

  21. On June 22, 2013 at 1:31 pm,
    Simon says:

    Al- “Why doesn’t the rule of law apply to Everyone?”

    Because the Oligarchy has exempted itself from the rule of law; Constitution (which has been fed to the shredder); Obamacare etc…Welcome to Fascism at its finest my friend. Full-blown mode. Protect and Govern thyself~

  22. On June 22, 2013 at 2:48 pm,
    Dennis F. Brophy says:

    I found a site that`s full of everything you every wanted to know about what`s going on at the NSA, GCHQ(the British eqiivalent of the NSA); Syria, NDAA of 2014; Inside the Secret Room at the NSA: The Ultimate Net Monitoring Tool located AT&T`s – San Francisco, CA; on and on to one story after another on what`s our American government up to. To kick it off to `Imperial Agenda in Syria, GRTV Feature Interview with Prof. Michel Chossudovsky, a video 24:27 length and posted June 22, 2013, http://www.globalresearch.ca/the-imperial-agenda-in-syria-grtv-feature-interview-with-michel-chossudovsky/5339999

  23. On June 22, 2013 at 2:56 pm,
    BigAlAugustine says:

    I lost my shirt… but not my gold…. aaaaahahaha!!! I’m ready to loose my house and take me booty with me argh… Seriously though, this is just a lull. Ask yourself, if gold would be at $3000 by now would I sell? NO! You would probably buy more and sit on the stash you have. Let’s get real fellers, other than stocks, physical is precious in so many ways, don’t get bummed out. The real fun hasn’t started yet.

    • On June 23, 2013 at 2:45 am,
      Bird Man says:

      My suggestion is you sell while you still have a chance, Al or you will be screwed.

      • On June 23, 2013 at 5:47 pm,
        JERRY the Long..................O^OTB says:

        bird……now that is a bull s… quote……………..o

        • On June 23, 2013 at 10:54 pm,
          Bird Man says:

          Get off it Jerry. Do you really enjoy wasting your hard earned money and seeing it whither away before your eyes month after month? Some guys here lost HUNDREDS of thousands having gone all-in on a bad bet on metals. They bought on poor advice from experts who did not know dick-squat what they were talking about and even worse, they bought at the worst possible timing. Twenty months of declines and prices are still falling. How stupid can an investor be to not appreciate there is always a moment you need to cut losses and walk away? Now that very same pack of morons who pumped up this market in the beginning are telling all who will listen that selling is just a sure way to “lock in your losses” and assuring all it is more wise to hold on and stay invested. How bloody stupid is that for a theory? Could it not have made more sense to sell gold at a profit when it was at 1800, 1700, 1600 or even 1300? Don’t you think it would have been better to have sold at peak prices and bought back in lower at a later time? Or maybe by taking a partial profit strategically you could have invested in something else that was actually MAKING money while biding your time until gold bottomed. I have to tell you that I am both amazed and stunned by the combination of ignorance and devotion those who buy gold exhibit. They have let emotion over-rule their sense of self preservation financially and have allowed philosophy to trump their resolve in protecting their families from economic losses. Do I really need to point out that precious metals are now in a bear market and have fallen below the 200 DMA? Cripes man……what will it take to wake some of you people up?

          • On June 24, 2013 at 4:10 am,
            JERRY the Long..................O^OTB says:

            Bird…..I just enjoy PO YOU off………….beside you are a great conversation piece.,it is early I have not read all you quote yet….
            Some guys did not do there home work nor did they get in early enough ,,,go read, about, investing, and cycles, and how big money sniffs out opportunities ,,,year before, anyone else, shows up…………it is called trends……trends do not pop up and down, that is a cycle…..you need to know the difference…………IF , YOU THINK IT IS OVER ,,,BY AL MEANS SELL…..BUT, if you think we are in a cycle….stop whinning and stick it out if you HAVE THE ba..s………………best, to all I SAY IT IS NOT OVER TILL THE MANIA has occurred……..

          • On June 24, 2013 at 4:12 am,
            JERRY the Long..................O^OTB says:

            their for “”there”
            ……….early and one eye shut……OH,,,I do enjoy your comments, and thought………best………………ootb

          • On June 24, 2013 at 4:42 am,
            Bird Man says:

            DUST is up over 600% in 12 months, Jerry….. but hey man, it’s only money. No worries.

          • On June 24, 2013 at 7:54 am,
            JERRY the Long..................O^OTB says:

            dust to dust….ashes to ashes…………………best…………..ootb

  24. On June 22, 2013 at 3:06 pm,
    CFS says:

    While congress is stalled, and not doing much, (Although the immigration bill that will be passed next week will be a disaster) we can’t afford the edicts coming out of an out-of-control Whitehouse.
    Not by law but by edict so far this year there are 224 new regulations on business, estimated to cost over $100 billion in a full year.
    Overall complying with the regulations in the US are estimated to cost over $1.8 Trillion per year. (And that does not include the cost of complying with the IRS and Obamacare rules.)

  25. On June 22, 2013 at 3:09 pm,
    CFS says:

    Please note, I am not saying no regulation is needed. Clearly some regulations are needed, but we do not need to change them every few months without regard to the cost impact.

    • On June 23, 2013 at 8:30 am,
      Jeff Deist says:

      I nominate 2 specific regulators- profits and bankruptcy.

  26. On June 22, 2013 at 3:17 pm,
    Dennis F. Brophy says:

    To answer Alan Butler, what`s going on with the the US supporting al-Qaeda terrorists, then fighting the al-Qaeda terrorists in Syria: The Obama Administration is a `State Sponsor of Terrorism` posted June 19, 2013, http://www.globalreseach.ca/fighting-al-qaeda-by-supporting-al-qaeda-in-syria-the-obama-administration-is-a-state-sponsor-of-terrorism

    • On June 22, 2013 at 3:29 pm,
      Dennis F. Brophy says:

      THIS is an OOOPS link, yet its written exactly as it is, yet when you go the page it address has changed to a different prefix that different than what I wrote. I guess its BIG BROTHER at work – the censor is at work…..

    • On June 23, 2013 at 1:50 pm,
      Simon says:

      Did you mean : al cia da?

  27. On June 22, 2013 at 3:44 pm,
    Dennis M. O'Neil says:

    French wine…Spam and the moon.

    Sometimes things just come together like tonight’s Supermoon.
    Find a good spot and watch the disk. Today’s guest Jay Taylor might agree the moon is in many ways one of many proofs an objective observer will find we were created by design.
    Another thing that fell into place was tonight’s dinner. We decided to go with finger foods tonight so I began by deep frying chicken wings and sliced chicken breast fingers. The wings and fingers were dredged in flour kicked up with baking powder-red pepper and Old Bay. Well wing night was going fine and then in a turnaround cupboard I spotted a can of Limited Edition Jalapeno Spam. I sliced the meat concoction to mimicked a steak fry….dredged them in the flour and commenced to deep the result.
    After placing the fried spam slices on paper towels I submerged them into a sauce consisting of 2/3 Frank’s Original Hot Sauce and 1/3 Sriracha Hot Chili Sauce. It ended up being the highlight of a modest dinner ….earning a spot in the rotation. It pared fantastically with a 2007 Brut – Roche Lacour.
    Who would of thunk it?….fried Spam and French wine.
    Try it!!!!!!!!!!!! Find a spot and watch the Supermoon!

  28. On June 22, 2013 at 4:19 pm,
    JERRY the Long..................O^OTB says:


    • On June 22, 2013 at 4:25 pm,
      JERRY the Long..................O^OTB says:

      AMERICAN = GOD, GUNS,GOLD…….keep it simple

      • On June 23, 2013 at 2:43 am,
        Bird Man says:

        Surely you meant American extremists, not actual Americans, Jerry.

        • On June 23, 2013 at 4:57 pm,
          JERRY the Long..................O^OTB says:

          If your are going to be AN AMERICAN today….YOU will need to be EXTREME,

          • On June 23, 2013 at 4:58 pm,
            JERRY the Long..................O^OTB says:

            IT IS IN THE BLOOD……………..

        • On June 23, 2013 at 5:01 pm,
          JERRY the Long..................O^OTB says:

          THE first AMERICANs HERE blazed the way, for the rest…..I guess we will have to pick up the slack, for the lazy. no brain, fat a.. ,takers……

          • On February 2, 2014 at 11:35 am,
            Sura says:

            Greatest event We’ve have you ever been, and consider my faimly, I already dug half of the world wide web for this facts! I do not necessarily realize where you take the supplements, however for me you will be the best! With great!

  29. On June 22, 2013 at 5:03 pm,
    Dennis F. Brophy says:

    Found some more juicy stuff on the web, on what`s happening with GOLD, From the Charleston Voice: How the CIA ,US Fed Reserve & Treasury Use the Secret Exchange Stabilization Fund – by Eric deCarbonnel – video series http://www.youtube.com/watch?feature=player_embedded&v=2ssrcD5GdPQ part 1; http://www.youtube.com/watch?v=ImuVUab6WW0&feature=player_embedded part 2; http:www.youtube.com/watch?v=8Qs11_5-FXc&feature=player_embedded part 3; http://www.youtube.com/watch?v=iK-741ISz94&feature=player_embedded part 4; http://www.youtube.com/watch?v=1Qf-u2nCVSw&feature=player_embedded part 5;/ these are very good video`s on how the government uses a super secret slush fund on controlling the price of gold, currencies, financing covert operations, etc., etc., etc..

  30. On June 22, 2013 at 6:11 pm,
    MissiveDuTexas says:

    I like the subjects you guys choose to discuss. I do have a few things to bring up:

    1- Jeff. I understand it may be very frustrating to see the degree of apathy currently found in most of the people. I would like to remind you, however, that most, actually the majority of people, do what is needed to feed, cloth and put a roof over the heads of their family. I find it very unfair that based on your knowledge of the current situation, you find it acceptable to state that “if the american people don`t do such and such, they`ll get what they deserve”. No, they do not. With much knowledge comes much responsability. Let me ask you this:

    Did you run for you local school district?
    How about your county commission?
    State house?
    Or federal congress?

    As you know, all levels of governments are somewhat infiltrated with people pushing an anti-american agenda. It is up to us, each knowlegeable individual, to step up to the plate and shed light on as well as counter these forces. Please stop thinking your responsability stops at stating the obvious and shifting our responsability to the ignorant and clueless.

    Al, one thing I would like to hear in future discussion:

    Most junior mining players are highly dependent on loan agreements. The conditions of these are rarely, if at all, disclosed. I believe most of the downtrend in juniors over the last three years is directly associated with these agreements. Your program never discuss these issues, I would like them to be brought to the forefront, every week.

    Have a great week all, keep up the good fight.

    • On June 23, 2013 at 8:27 am,
      Jeff Deist says:

      Missive- quite a few Americans don’t feed, clothe, and house themselves and their families. That’s part of the problem. And the state enables/encourages them.

      We can’t argue with Americans who don’t believe in or understand liberty (which is most Americans). It doesn’t work. Running for school district or Congress doesn’t work. Clearly. Hell, RON PAUL was on the presidential ballot in 50 states and 5% didn’t support him. It’s way too late for politics.

      I’m only interested in actions that work. Effective education for young people (e.g. radical unschooling/homeschooling, sending them to the Mises Institute, rejecting college, etc.). Second passports. Precious metals, currency diversification, prepping.

      Education is everything. Americans over 30 are generally too far gone and will never change their views. Even after a real collapse they will clamor for more state control, not less.

      This is an educational site, at least in my view.

      • On June 23, 2013 at 10:09 am,
        Matthew says:

        Exactly right, Jeff, and Canadians are even less critical of the nanny state.

      • On June 23, 2013 at 4:25 pm,
        MissiveDuTexas says:

        “Quite a few Americans don’t feed, clothe, and house themselves and their families. That’s part of the problem.” Ho my. You see it as part of the problem, I see it as a noticeable symptom of the corrupt monetary system we live under.

        It doesn’t work. Running for school district or Congress doesn’t work. – I think you are mistaken, greatly mistaken. The warning from Einsenhower was this:
        “In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.”
        Give up the councils of government, like you are, and they win. Ron Paul has educated millions all over the planet in the last ten years, and you`re gonna give up now?

        “It’s way too late for politics. ” – Well, I hope you are weighing this conclusion against its implied consequences to you, your family and your friends`future.

        “Education is everything” – I agree. And as far as I know, local school districts still have enough influence to determine the curriculum. If you want some dupe of the military-pharmaceutical-monsanto industrial complex to take a seat without opposition, don`t get involved.

        It is too easy to write off the masses because of their ignorance. It will not disculp you of the responsability you had once you meet your maker. And we all have a responsibility to resist the spirit of anti-christ, anti-liberty, anti-truth.

        Bring your arguments up to Him and see what He says.

        In the meantime, do me a favor, and stop saying “the american people will get what they deserve.” That is obviously just a lame argument on your part to justify you sarcasm and non-involvement. I do not agree, and will state so everytime you can`t help yourself in saying so.

        • On June 23, 2013 at 5:12 pm,
          Matthew says:

          We all have to make calculations and then act on them. Sound actions are rewarded and unsound actions are punished. We all get what we deserve. No amount of complaining will change that.
          It is way too late for politics. But that has always been true. The masses have never suddenly and correctly identified their problems in time to avoid the consequences of their collective actions (inaction is also an action). Only the individual can take the necessary steps to thrive in any environment. Thanks to people like Ron Paul a lot more individuals are doing just that. If the masses are to wake up, it will happen one person at a time.

          • On June 24, 2013 at 3:53 am,
            MissiveDuTexas says:

            “Sound actions are rewarded and unsound actions are punished. We all get what we deserve.” –

            I bet you also believe the market provides perfect information and the price reflects the sum of all this perfect info. Nothing is skewed in favor of the already mighty and powerful….

          • On June 24, 2013 at 4:32 am,
            MissiveDuTexas says:

            The more I think about the “americans will get what they deserve” comment, the more it sounds to me like some people have a really perverted idea of what the concept of “justice” entails.

            Al, do you as well believe americans get and will get what they deserve?

          • On June 24, 2013 at 4:57 am,
            Bird Man says:

            The extremist right wingers never miss an opportunity to threaten the general public anymore, Missive. So certain are they of their philosophy. They don’t even bother phrasing their words behind veils anymore either. Between adoring Ron Paul, Mises, gold, guns and Tuna packed in oil they are quite the class of renegades.

          • On June 24, 2013 at 6:21 am,
            MissiveDuTexas says:

            @Bird Man – You lost me at “the extremist right wingers”. If you understood how deep in the rabbit whole our society is currently, you would understand that it serves the establishment to tag dissenters as “extremists”, to demonize anyone not in favor of the corporatism’s agenda.

            As for preparation, I see this just as wise as getting insurance coverage. When we know that grocery stores carry about three days of supply, that banks can be ordered to shut down for weeks at a time, that most people wouldn’t be able to feed themselves for more that a few days, being a responsible head of household implies being able to feed and protect family and property for an extended period of time.

            That is, unless you find it acceptable to give your children up because you can’t feed them:

            Imagine abandoning your own children because you can’t afford to feed and clothe them. It’s a parent’s nightmare that in Greece, mired in economic crisis, is increasingly becoming reality.


            So please, spare me the left wing propaganda of the establishment, I am not a taker.

          • On June 24, 2013 at 7:21 am,
            Bird Man says:

            No left wings here Missive. I just don’t like extremism.

          • On June 24, 2013 at 7:28 am,
            Matthew says:

            Missive, of course everything is “skewed in favor of the already mighty and powerful.” This will change only through education. By stating that we get what we deserve, I am just recognizing the brutal reality. Only through education will people recognize that their actions are unsound. Mother nature makes no exceptions for good and honest people. If everyone would recognize that they cannot avoid personal responsibility, more would rely on common sense and their own analysis. Instead, people are manipulated -and often by their own emotions thoughtless notions. There are risks everywhere. We have to be smart enough to know what we don’t know and find out what we need to know. Just think of all the people who buy junior miners without first understanding the risks. Or those who took on massive of debt over the last 30 years because the system (public schools, media, government officials) promoted it. Self reliance and a healthy skepticism are traits few have anymore.

        • On June 24, 2013 at 7:43 am,
          Matthew says:

          Bird, you are the extremist with that loose cannon mouth of yours. I would like to know who “threatened the general public.” It is socialist goons who threaten people. They are the parasites that have to shakedown the general public for their daily bread. I do not endorse “left wing” or “right wing” force and theft. Both wings work for the same ugly bird.

          • On June 24, 2013 at 8:34 am,
            MissiveDuTexas says:

            Matthew “This will change only through education” – No, this will change once people get involved in the political system that still exist, at all levels of governments. Right, the will of the people is ignored because vassals of the establishment occupy the seats of our “councils of governments”. Retaking these seats by honorable citizens will be enough to turn the tide. Washington will be the last bastion of retreat for the sociopaths, but it will be overtaken by a wave, no matter what they try.

          • On June 24, 2013 at 9:08 am,
            Matthew says:

            Re: “Retaking these seats by honorable citizens will be enough to turn the tide.” You could be right, but how will honorable people retake these seats if the people aren’t educated enough to know what “honorable” looks like? With so many now so dependent on the government, the right decisions are really not politically viable. Fear and desperation have a way of changing one’s priorities. Without an educated populace, action always comes too late. Most think that the current situation is the problem. They do not realize that it is really just a consequence of the problem. Decades of unsound monetary policy are now coming home to roost, yet birdmen everywhere continue to crow like it’s still early morning in the West. Little can be done politically at this point. The individual still has options, but the sun is setting on those, too, one by one.

          • On June 24, 2013 at 9:28 am,
            MissiveDuTexas says:

            “You could be right” –

            That you are willing to concede as much is enough for me. I’ll concede that this path has its own hurdles…

      • On June 23, 2013 at 8:13 pm,
        benb says:

        Mr.Deist, that seems like pretty smart thinking.

  31. On June 22, 2013 at 6:14 pm,
    CFS says:

    I report earlier that Russia had bought 200 tons of gold in the last month.
    This figure came from London (reported by McGuire) Either I misread his notes or just simply misunderstood.
    I am informed the correct number was much less: 200,000 ounces.

  32. On June 22, 2013 at 6:18 pm,
    CFS says:

    The ETF GLD delivered out 5.4 tonnes of gold bullion, which probably went east.

    • On June 23, 2013 at 2:41 am,
      Bird Man says:

      How do you know it did not just flow in JPM’s vaults, to the Fed or to one of the many other Western central banks?

      • On June 23, 2013 at 4:44 am,
        CFS says:

        Birdman, I know it did not flow into JPM vaults, But do not know if it went the Fed or which central Bank or even hedge fund.
        I do know the vault holding of dealers in most Gold Banks as of Friday night.

        Scotia: 285,596.23 oz or 8.88 tonnes (same)
        HSBC: 270,197.277 oz or 8.4 tonnes (same)
        JPMorgan: 408,709.033 oz or 12.71 tonnes (prev 413,526,284 or 12.86 tonnes)

        Brinks dealer account has gold at 446,698.99 oz 13.89 tonnes.

        I have no way of tracking individual billionaire privately-held or central bank holding gold yet.
        (however, given the extent of big brother spying, it may not be long before such information as held by the NSA leaks out to be public knowledge.)

      • On June 23, 2013 at 4:47 am,
        CFS says:

        The word “probably” indicates a best guess, not certainty.

        • On June 23, 2013 at 5:12 am,
          CFS says:

          It is, in fact, possible also to ascertain the total of individual holdings in JPM.

          JPMorgan’s customer inventory remains at an extremely low 141,197.86 oz.
          If you are a customer of JPMorgan and have your gold in its vault, It might be best to remove it before we have another fiasco like MFGlobal. Morgan appears to have a shortage, based on un-fulfilled sale orders.
          (It is possible I have incomplete data, but I have tried several different ways to verify and JPM comes up short every which way.)
          On the other hand I have watched the LBMA be short several times and scramble enough to fill a shortage after a small delay in delivery time.
          (Most people when given a choice between cash settlement and being forced to accept a few days or even weeks delay in delivery opt for the delay.)

  33. On June 22, 2013 at 6:22 pm,
    CFS says:
  34. On June 23, 2013 at 2:52 am,
    Andrew de Berry (Rev) says:

    Hey Al

    Come on my friend ‘fess up to what Birdman said at the top of these blogs. He may be infuriatingly right but you’ve got to hand it to him – he’s been a contrarian to outsmart just about all of us!

    Great show as always. I love how Jeff Deist Deist got steamed up in Segment 3. Or as I said in an earlier blog Jeff, Obama’s lack of any decent response over that of victim Snowden is that of an all-out PR.CK!

    Please let me say the word Al!!

    Best, A

  35. On June 23, 2013 at 4:46 am,
    Andrew de Berry (Rev) says:

    Great final segment Al;

    Jay good man, we do have natural GOD-GIVEN rights, and yes in response to both you and Alan, Edward Snowden has to be a patriotic hero. The guy’s given up on a $200k salary, lost his girlfriend and must be s..t scared as to whether he gets arrested or is quietly rubbed out. Snowden’s foremost motivation is that of an altruist warning that the U.S. is ‘sleep-walking towards turnkey tyranny’.

    As for our own U.K. Foreign Secretary William Hague, he refused to be drawn on whether Britons have been spied on by GCHQ working in tandem with the NSA.

    • On June 23, 2013 at 4:53 am,
      CFS says:

      The UK government might not admit anything, but it is clear they spied on British citizens. It is less clear whether such spying would be illegal in the UK.
      The lack of a clearly written Constitution muddies what is legitimate and what is not.

      • On June 23, 2013 at 5:18 am,
        CFS says:

        Clearly the British Public accepts the installation of hundreds of thousands of cameras in public places and on bus and trains to monitor them.

        • On June 23, 2013 at 10:19 am,
          Andrew de Berry (Rev) says:

          If Blair had had his way we’d all be carrying ID cards by now.

          • On June 23, 2013 at 2:19 pm,
            impeach says:

            That’s a false alternative, of course. The card you can leave at home.

    • On June 23, 2013 at 10:18 am,
      Andrew de Berry (Rev) says:

      The news just out is that Snowden has been allowed to fly from Hong Kong using a commercial flight to Moscow, and from there onto Ecuador. Cleary the U.S govt ain’t happy!

      Clearly Russia and China have agreed something between them, even if Snowden’s life remains in danger in his new non-extradition country.

    • On June 23, 2013 at 6:06 pm,
      Dennis F. Brophy says:

      Britain`s Surveillance State: The Secret Ops of the “Government Communication Headquarters“(GCHQ) “Its not just a problem. The UK has a huge dog fight… They (GCHQ) are worse than the US.“ Edward Snowden http://www.globalresearch.ca/britains-surveillance-state-the-secret-ops-of-the-government-communications-headquarters-gchq/5340053

  36. On June 23, 2013 at 8:32 am,
    CFS says:

    The Hong Kong Mercantile Exchange (HKMEx) is aiming to launch yuan-denominated metal contracts within a year and will lead with copper, gold and silver contracts, exchange co-president William Barkshire said in an article published recentlyy in the Swiss Derivatives Review.

    • On June 23, 2013 at 6:07 pm,
      JERRY the Long..................O^OTB says:

      that should make London and NY….happy……….

  37. On June 23, 2013 at 11:52 am,
    Fred says:

    Edward snowden is an American Hero but the American people are too apathetic, too stupid, too scared, too gutless, too fat and happy, just want to watch their sports, get more tattoos, get more body piercings, rub themselves to make them feel good, drink into a stupor, and say do you want fries with that?

    Russia and China are sticking it in Amerca’s ear by protecting Snowden. This is payback to America for manipulating every market, especially gold and silver, arming El Quida, and trying to run the world financially, economically, militarily, etc. America – current day Roman Empire in decline.

    • On June 23, 2013 at 4:03 pm,
      irishtony says:

      HELLO …Fred……I have to agree with every word you just typed, don’t be shy, post more often.

    • On June 24, 2013 at 1:32 am,
      Andrew de Berry (Rev) says:

      Rock on Fred!

      • On June 24, 2013 at 8:00 am,
        JERRY the Long..................O^OTB says:

        ditto……or as bird says…………baa,,,baa,,baa………….

        • On June 24, 2013 at 8:02 am,
          JERRY the Long..................O^OTB says:

          baa……is that a low grade bond? or the next rating for the US BOND…..

  38. On June 23, 2013 at 12:12 pm,
    CFS says:

    I’m pleased Assange appears to be helping him. I doubt if I would have the guts to do what Snowden did, but if I had I would be paying for the biggest life insurance policy I could afford……Although that does not help him stay alive. Still; a moving target is harder to hit.
    Anyone know the maximum range of a US drone?

    • On June 23, 2013 at 2:14 pm,
      impeach says:

      Right now, the US government crime agencies don’t need a high-profile drone attack or a downed Aeroflot flight. A few years later, once Snowden is old news and stressed out, they can easily plant a medical or traffic incident no matter where he goes.

    • On February 2, 2014 at 4:49 pm,
      Mert says:

      5feHeya ie28099m for the very first time right here. I found this board And I uncover It dtinifeely valuable & it helped me out a lot. I hope to grant one thing rear and assist people like you helped me.

  39. On June 23, 2013 at 12:21 pm,
    CFS says:

    I’m informed a Chinese drone has a max range of 2,000 miles
    an MQ-9 raptor has a similar range, But a modified surveillance drone (hawk) could probably do up to 8,000 miles.

    • On June 23, 2013 at 4:07 pm,
      irishtony says:

      cfs……….8,000 miles!!!!!!!!!!!….SHIT I’M IN BIG TROUBLE.

      • On June 23, 2013 at 6:09 pm,
        JERRY the Long..................O^OTB says:

        do not worry,,,maybe they will over shoot you…………and hit the queen…….

      • On June 24, 2013 at 12:58 am,
        Andrew de Berry (Rev) says:

        Language Tony, language!! I’m trying to abide by Al’s code of this being a family website!! Good to hear from you again.,Andrew

        • On June 24, 2013 at 8:03 am,
          JERRY the Long..................O^OTB says:

          rev……that is how irish says…..Super HIT

          • On June 24, 2013 at 12:24 pm,
            Andrew de Berry (Rev) says:

            Gotcha! I knew Irish was clean living!

  40. On June 23, 2013 at 3:55 pm,
    Jerry(Gator)M says:

    Big Al,
    I am a long time follower of this site and if I may I have a request.
    If and when the fundamentals (in your and your guests opinion) change and no longer support the possession of precious metals, would you please post that message.
    I am a long term holder and “all in” with the metals. Fundamentals are the driving force for either holding or liquidating the metals (in my opinion) therefore I am only interested if and when that changes. Thanks in advance. Regards!!

  41. On June 23, 2013 at 4:12 pm,
    irishtony says:

    Jerry (CROCK)……….HOLD TIGHT………..OUR DAY WILL COME……………………………..

  42. On June 23, 2013 at 5:49 pm,
    JERRY the Long..................O^OTB says: