Major turn in the gold market, the case of Mr. Snowden and the Senate approved immigration bill

June 29, 2013

Hour 1 : 

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Hour 2 : 

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We devote the first hour to financial issues, specifically the major turn that we saw in the gold markets on Friday, and the second hour to politics discussing the case of Mr. Snowden and the Senate approved immigration bill.

Hour 1 :

Hour 2 :

  • Segment 5 – Greg McCoach comes back in and opines on the question of big government.
  • Segment 6 – Dan Pisenti feels that Snowden is a traitor. Do you agree?
  • Segment 7 and Segment 8 – Political issues are dissected by Big Al, Jeff and Bob Moriarty.

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    Jun 29, 2013 29:21 AM

    Dan Pisenti,
    You are a fool, and a perfect example of what is wrong with the american population. You don’t have a clue about what the US governments are behind and what they are capable of which is clear by your statement about 911. Wake up and get your head out!

      Jun 29, 2013 29:46 AM


      I would imagine that alongside Sen Lindsey Graham, Dan Pisenti is another of Jeff Deist’s least favourite figures. Nor is so much American affability to be confused with people appearing to be your best buddies. I had experience of that when working in the Church out in L.A. Sorry but some charming Americans can be out and out bast…s!

      Pisenti gave a nervous laugh when saying that the powers-that-be aren’t curious to probe the lives of ordinary folk. That’s just the point, THEY ARE! This is how totalitarian regimes operate: They begin innocently enough by saying things like the greater surveillance is being done only to increase our security and that we have nothing to fear. And what’s wrong (as Bob Moriarty reports) when the observers give an amused snigger at the sexual conversations being overheard between servicemen and their spouses?

      Edward Snowden is neither a ‘coward’ (Pisenti’s word) nor a ‘felon’ and ‘traitor’ (Lindsey’s words). For who in crossing Big Brother wouldn’t want to go into hiding, given that they can use ‘extreme prejudice’ at any time?.

      For those who’ve not seen Ulrich Muhe’s ‘The Lives of Others’ about a Stasi apparatchik who redeems himself from his spying activities in 1984, it’s a masterpiece showing how the regime will eventually always target the little guy..

        Jun 29, 2013 29:06 AM

        Thanks Reverend,

        Sometime we are going to have to sit down and drink some great red wine. On me, by the way!


        Big Al

        Jun 29, 2013 29:37 PM

        I agree, Andrew. I learned long ago that Pisenti is just another neoCON. As Russell Kirk said, they are “often clever, never wise.” At the time of the first Gulf War, Kirk said:
        “Presidents Woodrow Wilson, Franklin Roosevelt, and Lyndon Johnson were enthusiasts for American domination of the world. Now George Bush appears to be emulating those eminent Democrats.”

      Jun 29, 2013 29:19 AM

      Pisenti sounds like a shill. He sounds to me like he doesnt have a clue at best.
      Thats somthing that allows a facist government to happen, people like Mr.Pisanti exist. He and many like him will gladly give up their liberty for a missguided belief in whatever the government tells them to believe. Hearing guys like that deflate hope.

        Jun 29, 2013 29:07 AM

        Trust me benb,

        Dan is a good friend of many years and he would be right next to you in the trenches if the question was one of giving up liberty.

        Big Al

      Jun 29, 2013 29:03 AM

      The thing about this site that I appreciate is that we try to give opinions from both sides of an issue.

      By the way, Dan is certainly not a fool. I don’t happen to agree with him on this one, but, trust me, he is no fool.

      Big Al

      Jun 29, 2013 29:06 PM

      The truth of the matter is Mr. Snowden for all his human frailties typifies and exemplifies the true meaning of the American spirit that really makes a difference for mankind. He is without question a hero of epic proportions.

      A man like Snowden has effectively given up any possibility of a long or normal life to expose the treason at the highest levels. He actually is a man who stands for something bigger than himself and he clearly possesses a greater understanding of whats at stake and has without question demonstrative a more meaningful patriotic thought process as it relates to the Constitution than 99% of the clueless masses.

      Dan Pasenti is just another koolaid drinking no-body that will protect the statist doctrine propaganda mantra to the end. Another apathetic wrench in the empty tool chest of broken promises, deceit and lies.

      Dan Pastinte’s new Pledge of Allegiance should resemble the following: “I solemnly swear I will protect through all available media means the control agenda of the PTB and I will not upset the crony fascistic governing bodies apple cart no matter how unconstitutional it may be… help me god”.

      Literally when I hear people in America justifying and accepting this utter criminal behavior, and unconstitutional lawlessness that is being forced on the brain dead public it literally makes me ill to the core of my soul.

      The stateists / communists can fool a lot of folks for a longtime, but in the end they always show you their true colors.

      The Cat’s out of the bag now, but unfortunately its too late for the Republic. The history books will be rewritten to teach the young the emperors alternate deception reality of histories true events.

        Jun 29, 2013 29:14 PM

        Hi Vortex, your comment about “…when I hear people in America justifying and accepting this utter criminal behavior, …“ it made think of the O.T., 1ST Samuel 8:7-11) “… Then said [king]Saul unto his servants, Seek me a woman that hath a familiar spirit(a witch), that I may go to her, and equire of her. ….v9)And the woman said unto him(Saul), Behold, thou knowest what Saul hath done, how he hath cut off those who have familiar spirits(Witch), and the wizards, out of the land..“.v10-11) Saul swore by God to protect the devil. < DFB version — This is how perverse our time has become, `those that knoweth to do good, and doeth it not to him it is sin.` Obedience better than sacrifices and burnt offerings 1 Samuel 15:22-23) For rebellion is as the sin of witchcraft, and stubbornness is as iniquity and idolatry. Because you have rejected the word of the LORD, …` —

          Jun 29, 2013 29:21 PM

          OOOPS its 1st Samuel 28:7-11) its been a long day for me, typo error

            Jun 30, 2013 30:47 PM

            Hi Dennis, there’s a lot of wisdom in that writing.

            thank you


        Jun 30, 2013 30:08 AM

        Hi..VORTEX…….I agree the man is a “HERO”…..& people like you , who side with him are also “HERO’S……We need a thousand more , SNOWDEN’S , to come forward before the people start to take notice….MR SNOWDEN..FOR PRESIDENT.

          Jun 30, 2013 30:49 PM

          Howdy Tony, you are far too kind to this old vet.

          thanks for putting up with me my friend.


        Jun 30, 2013 30:56 PM

        By this issue alone one can know who is on the side of the People and who is for the international Elites. Who is a true American P_tri_t and who is terribly misinformed at best or a traitor of the American People at worst.
        Listen to what they say about Snowd_n and you will know .
        Forgive the missing letters,
        It is for my protection, I know the gov_rm_nt will use the information they are collecting against the People, it is only a matter of time.

    Jun 29, 2013 29:50 AM

    I’ve been listening to the weekend program for an hour so far, and most are still talking about what I would call speculation in gold. That is NOT primarily why I am buying gold. Sure, I’d like to make some money about a rising gold price. Who wouldn’t? But that is not why I’m buying gold and other PMs. I’m lucky to have earned and saved more money in my life than I’ll ever spend. However, I’m also very aware that politicians all over the world are really making a mess of things, and there is a high probability that some currencies, many banks, some brokerages will go belly-up.
    I don’t think the US dollar will go to zero….there are just so many out there and it’s probably the best looking horse in the glue factory, but it would be stupid not to take precautions. Precious metals are precious because they have preserved value (more or less) over thousands of years. It is diversifying for safety, the reason I buy gold, and what better time than at what appears to be a localized in time low price point. Primarily, It is not to make money, but to preserve wealth that I hold precious metals. (and real estate and stocks, and some other currencies.)

      Jun 29, 2013 29:18 AM

      Smart Man!

      Jun 29, 2013 29:58 AM

      Money is a medium of exchange AND a store of value. Therefore, the US dollar is not money.

        Jun 29, 2013 29:09 AM

        Amen, Wayne, amen

        Big Al

        Jun 29, 2013 29:17 PM


        If the U.S. dollar were not money (just fiat money as so many claim) then why do precious metal dealers WILLINGLY sell you metals in exchange for paper? Are they idiots too? You know, people like John Embry, Eric Sprott, James Turk, Mike Maloney, Peter Schiff? And the list goes on. Gee! If I was a true believer in hard money, then why on earth would I go into business to ACQUIRE it in order to sell it (which means getting rid of my inventory) only so I can receive electronic bits or so-called fiat paper at the end of the day? Oh I know why! So they can MAKE MORE MONEY to buy more precious metals so they can resell.

        Well, gee! What happens when the BIG CRASH comes and they can’t sell any more precious metals because their inventories have been depleted and all they have to show for all their long years of selling gold and silver are digital bits in a computer or paper certificates with pretty pictures of dead presidents (and one former dead Secretary of State) that will be worthless because ONLY precious metals will be money? Does this sound like a great business model to be in? I would think that if all these precious metal dealers were so worried about the crash of the dollar, they sure wouldn’t be offering metals to the people, but instead, they would be hoarding them.

          Jun 29, 2013 29:38 PM

          If you don’t realize that currencies can’t default and become worthless just look at what caused The French Revolution or in America’s case how The Continentals became worthless, always let History be your guide especially in times that we are in when there is nothing backing any currency and money is backed only by a private bank that is allowed by the public to be trusted. DT

            Jun 29, 2013 29:09 PM

            DT, thanks for the response.

            You just supported my point. I DO realize what history has shown us, so why would a business undertake the selling of precious metals for paper money if they believe that the paper currencies will collapse? Might it be that some DON’T believe this and see it as a great marketing ploy? My argument isn’t against precious metals as money, my argument is against saying the U.S. dollar ISN’T money because “isn’t” implies present tense and currently the U.S. dollar IS still considered money by billions of people around the world.

      Jun 29, 2013 29:08 AM

      Your intellect is quite high CureForSpending,

      I could not agree more!

      Big Al

    Jun 29, 2013 29:57 AM

    and don’t miss page 2 of my last citation, which includes:

    “The Obama administration’s Department of Justice prosecuted major league pitcher Roger Clemens of perjury before Congress. It was precisely the same kind of perjury that Snowden’s disclosures showed that National Intelligence James Clapper and NSA chief Keith Alexander engaged in during their sworn testimony before Congress. Why haven’t Washington reporters bothered to ask the administration if it will prosecute Clapper and NSA chief Keith Alexander on the same charges that the administration aimed at Clemens?”

      ONE OF THEIR OWN……..they would have to round up all 535 members, and prosecute, themselves……along, with the Justice department

        oh,,,,do not forget Uncle Ben, and the President, I still say he does not have a birth certificate

          Jun 29, 2013 29:26 AM

          The sheep parade.

            Jun 29, 2013 29:26 AM

            Bird Man, Do facts bother you?

            Jun 29, 2013 29:14 AM

            Give it a rest.

            BIRD……YO^O ARE TALKING TO MY FISHING BUDDY……think about it BIRD…..THERE ARE TWO,,,YES, TWO …..Jerry’s……you will now ,,,have double night mares……

            Jun 29, 2013 29:35 PM

            But only ONE birth certificate!

            give it a…” rest in peace”…………………

            Jun 29, 2013 29:54 PM

            I really wish I could say I was surprised you believe in all that tripe about the citizenship of the President Jerry. Suits you though. You probably also believe Comex will default, that the Rothchilds run the global financial system, the Fed is under the control of aliens and that there is a vast worldwide conspiracy involving thousands of silent operatives trying to sink gold.

            So funny it is beyond belief. Hey Jerry….got comments on Monsanto and corn too?

            BIRD…..there is not such things as alien……unless they are illegals…………

            Bird……I just got a dividend check from MONSANTO

            Bird…..THE FED… is not hard to understand that fiat,,,is our problem,,,and inflation ,,,since, the inception is a mistake…..and fractional reserve currency is a mistake , …..and a lie…….it would not be hard to think of the other parts of your statement….might just be a possibility ……….ie,,,no birth certificate for baby Obama,at least a legal US one… me the proof….,you can not and he can not….do your homework,,,,

            bird….back to Monsanto………do you know anything about food….like GMO, AND ROUNDUP……………

          Jun 29, 2013 29:29 PM

          Jerry, I don’t think it’s worth wasting your time, he will always think he is number 1 and maybe he is if you get my drift. DT

            Jun 29, 2013 29:47 PM

            Pathetic comment DT. I usually expect something more intelligent from you. By the way, what do you care if Obama has a birth certificate or not? You are Canadian for Gods sakes. And even if it mattered, do you think you can blather on a public website about something so silly without someone intruding to call you foolish?

            Jun 30, 2013 30:07 AM

            a thought came to me on this topic. This site seems to be highly populated by non US citizens, I guess because they are not Mexicans that they are considered legal.

            Jun 30, 2013 30:52 AM

            No bobby, it is because they are in the states LEGALLY that they are considered LEGAL. By the way, I have never met a lefty who was critical of MUCH tighter border security in every latin american country. Not one of those countries would tolerate illegals the way the U.S. has/does. Half of the American people are absolute chumps on this issue.

            Jun 30, 2013 30:02 AM

            Is that the Calgary perspective, Matty?

            Jun 30, 2013 30:03 PM

            The “Calgary perspective?” Does anyone know what BM is talking about?

          I always like it when BIRD , turns to insults,,,rather than answser a question, he knows nothing about…………..

            Bird…..know anything about Europe and GMO………..I am still wait for the Monsanto come back…………..Oh, How, about Archer Danials and alternative fuels…….

            I just am wondering what you feed your pigs and chickens……..are they range feed, grain feed,,,

      Jun 29, 2013 29:10 AM

      Great point CFS

      Big Al

    Jun 29, 2013 29:16 AM

    You stated one can’t deport 10 million illegals, “what are you going to do?”
    Here’s a suggestion first CLOSE the borders.
    Second: If you here illegally, you have to pay for the upkeep of the country (i.e. taxes) and what is more, since, you are causing the extra cost of fencing and border-monitoring, you can pay for that too. All illegals will pay an extra 5% front-end tax on all income. Further, failure to pay taxes will result in the same penalties that Mexico places on American citizens living in Mexico, namely: imprisonment, confiscation of property and/or deportation.

    There are lots of possibilities.

      Jun 29, 2013 29:13 AM

      I agree CFS, but at this point all I can say is “what the Hell” because I believe we have much bigger fish to fry.

      We, as a country, on this issue have taken ten steps backward. Now, let’s take ten steps forward.

      Big Al

      Jun 29, 2013 29:56 PM

      Here is a possibility….give them all amnesty and tun them into taxpayers. Serves them right!

      Jun 29, 2013 29:10 PM

      Here’s another way, CFS. Jail those who hire them and the hiring will stop. Then they’ll deport themselves on their own dime.

    Jun 29, 2013 29:29 AM

    I like Bob Moriarty; speaking his intelligent mind.
    He’s so right about too much government. But how to reduce, without a revolution?

    Jeff worked for big government for too long and it shows.

      Jun 29, 2013 29:14 AM

      Actually Jeff did not work for big government. He worked for Ron Paul.

      Big Al

    Jun 29, 2013 29:35 AM

    Great show, Big One.

      Jun 29, 2013 29:14 AM

      Thanks man!

      Big Al

    Jun 29, 2013 29:50 AM

    Some interesting graphs:

    Jun 29, 2013 29:01 AM

    I wish to point out the obvious.
    Next week contains July 4th, and for a shortened week, one should beware of validity of prices due to close out of positions and vacation taking.
    And for light relief:

      Jun 29, 2013 29:32 AM

      There is Bloomberg, Fox-News, Yahoo, Twitter, Reuters, Al Jazeera, the CBC, NBC, ABC, XYZ, Zero Hedge and a hundred other news outlets…..

      And then there is CFS who delivers us news, clips and links minute by minute.

      Maybe a little analysis there pal and a little less linking to other sites?

      What do YOU think?

        Jun 29, 2013 29:52 AM

        Perhaps he starts his own blog? But, what about the hit account here?

        Jun 29, 2013 29:13 AM

        I’m trying to maximize your exposure to relevent stuff, while minimizing the time you expend, but if you want me to comment more with analysis, I can. The main problem is
        I’m in the US about four months a year ; sailing/travelling for 4 months a year and in Europe about for 4 months a year, and sometimes have only limited internet access,

          Jun 29, 2013 29:25 AM

          I try to get an idea from the post which article to read, as I use consolidators like http://www.brotherjohnf and financial survival network, 321 gold, safehaven, zero hedge, etc. perhaps a small comment after your link posting would help one to decide if the article would be of interest to that individual.

          Jun 29, 2013 29:45 AM

          I appreciate the links, CFS. I know quickly enough which ones I want to spend time on. Some people just have to bitch.

            Jun 29, 2013 29:18 AM

            Some people don’t open blind links offered with no commentary because they often contain a virus, trojan, spyware or other infection. And who cares about links with no added comment anyway. Why bother posting them? We all surf the same news sites anyway.

            Give me something I can use buddy.

            Jun 29, 2013 29:55 AM

            Some of us can tell by the link if it is something we’ve “surfed” or not.
            Some of us also respect what CFS has to say, so the act of linking to something is commentary enough.

            Jun 29, 2013 29:53 PM

            Again, my thoughts exactly, Matthew. Brothers from different Mothers -Matthew? 🙂

            Jun 29, 2013 29:57 PM

            I think so, Marc!

          Jun 29, 2013 29:21 AM

          I just prefer to read the comments from individuals with something to say of interest to the topic. I don’t really care about what other news-sites write. It is easy enough to find that stuff on my own. Hell,…..we are swimming in information. I ignore 99% of it.

            I SEE YOU like this site……..we must be the 1% you have been missing…………ootb

            Jun 29, 2013 29:50 PM

            I always enjoy intelligent inspired commentary on this site with cfs being some of the best! I try to avoid “bird droppings” as they are a waste of my valuable time!

            Jun 30, 2013 30:19 PM

            Than k s for the opinion Mr Jones,

            Big Al

            Jun 29, 2013 29:39 PM

            Flap flap flap Mr Jones. I just call it like I see it. Maybe one day you will grow up and learn to speak your mind. Such a pack of sissies that only band together under one small umbrella and call each other “brothers” because they can’t step up to the plate. Grow a set. Too freaking funny, man!!

            Jun 29, 2013 29:51 PM

            I would assume that is why you are not long the metals. You lose.

            Jun 29, 2013 29:57 PM

            Wrong as usual Gator. I switched sides. But don’t get excited yet. I have no loyalty to the gold cause because it will never be money again in our lifetimes. It’s just another trade. I will switch back again when the time suits me.

            Jun 30, 2013 30:58 PM

            “Thanks for the opinion Mr Jones”

            A valuable added comment from someone who has no honour or respect for others.

    Jun 29, 2013 29:04 AM

    Hi Big Al,
    Thank you for keeping us informed, with your guests and Blog. Bob M’s excitement for buying PM shares, I agree with. How do I find out what Bob is buying??
    Respectfully submitted.

      Jun 29, 2013 29:24 AM

      I just forwarded your comment to Bob, Keep Stacking.

      Big Al

      Jun 29, 2013 29:13 PM

      PPG-V and MUN-V are two Bob had mentioned the other day.

    Jun 29, 2013 29:18 AM

    Keep stacking, reading is start.

      Jun 29, 2013 29:52 PM

      Thanks CFS, will read 321 gold to see what Bob M. is buying.

    Jun 29, 2013 29:21 AM

    You Rock Big Al—-time to turn on the air now; Time starts really moving fast after the air gets turned on….

    Jun 29, 2013 29:22 AM

    In the greater picture of all things there will soon be a time coming shortly, less than 4 years, where most everyone on this page worries about gold and silver being worth too many Fed dollars. Volatility cuts in all directions but just consider, what could possibly cause a person to worry more about the zoom to the moon rise of gold than they ever did about these last 20 months?

    Get prepared, not for the rise in gold but the terror causing it. Safety will soon be the most valuable thing in the US something that has not happened in over a 150 years.

      Jun 29, 2013 29:25 AM


      Your second paragraph is also what really bothers me.

      big Al

      Jun 30, 2013 30:50 AM

      Hi Clay, reread your 2nd paragraph too, I too am worried that Safety will be the most valuable, and that Civil War that just around the corner for all who are here still living, we are in the last days. ——— years ago when I was 23 years old, my mom`s friend, was Mrs. Thema Williams she was 95 years old, her father had fought in the Civil War as a buffalo soldier, then after the war`s end had got a land grant in old California, where she was presently living, she would sing the praises of the Lord Jesus, she was a wonderful dear saint.

    Jun 29, 2013 29:34 AM

    Whjy are you still giving that clown, Gary Savage, airtime. Did you forget how recently he called $1320 the bottom. Do you even know how many other bottoms he’s called this year!!! Your show is discredited by Gary “lose all your money on GDX”, Savage.

      Jun 29, 2013 29:55 AM

      They never learn, someone needs to take the pressure off other foolish bottom calls.

      Jun 29, 2013 29:07 AM

      We sure have heard a lot of crickets on that question, too. And that’s what I’ve come to dislike, not a wrong idea about where an equity might soon be headed, or a technically questionable bottom call here or there. So I’m left to wonder if keeping Gary around is like always keeping a plastic knife in the drawer – iykwim.

      Jun 29, 2013 29:26 AM

      I did speak with Gary about that yesterday.

      Let’s see where we are in a month or so.

      big Al

    Jun 29, 2013 29:36 AM

    I dont know about this show spending too much time on precious metals, there are alot of things to invest in, thousands of companies, where would you stop and if you covered even 100 how good would the coverage be? Maybe more time could have been spent on the possibitliy of shorting the last year or so, and maybe coverage could include the other metals, paladium platinum, but even rare earths are tuff.
    You would need a resedent geologist for those.
    A good show Al.

      Jun 29, 2013 29:28 AM

      Thanks benb,

      You know, I am having a lot of fun doing this and I am learning a lot from all of you and from our guests.

      Big Al

    Jun 29, 2013 29:48 AM

    I am hearing from some european coin dealers and one US coin dealer that they still expect lower gold and silver prices. (Comments made after markets closed yesterday and today) E.G for the US:
    Note this a coin dealer, not a bullion- dealer.

      Jun 29, 2013 29:52 AM

      Come on, CFS, this links to one hour of unstructured, “deeply” numismatic talk. Next time, please either note the relevant minute, or distill the info for us. Thank you.

        Jun 29, 2013 29:36 AM

        Impeach, Sorry, but it was right in the first few minutes.

          Jun 29, 2013 29:05 PM

          That’s fine, CFS, thank you. It’s just that audio is linear. So, at least unless you are NSA etc., it’s not as easily to find stuff as with text.

          Price talk starts at 5 mins. I’m not sure I agree with some of their ideas about the economy, and one guy admits he doesn’t “have a dog in the fight” — transaction fees and numismatics is their business. They seem to assume an elastic, but essentially range-bound cyclical relation of a stable currency to precious metals, and don’t care about the length of the cycles, so it’s not of much use to gold bugs or traders. Whatever, the following is THEIR take on prices:

          Any time you are dealing with prices that are more than 3 or 4 times the ‘historical’ values of $6 and $300-350 bucks for silver, gold, respectively, be very careful. What goes up, must come down.

    Jun 29, 2013 29:59 AM

    Segment 8, I agree with the whole segment and everyone, excellent discussion.
    . I hope we have longer than 6 months Bob mentions, on the other hand maybe it would be best to get it over with.

    Jun 29, 2013 29:14 AM

    In regards to Big government….
    Things were great when farmer Jones fled.
    The Seven Rules were painted on the barn and all seemed content.
    There was a time when we convinced ourselves we were citizens not subject slaves.
    Things started looking a bit odd when the milk and wind fallen apples disappeared into the sole custody of the pigs.
    Things were reported to be great. But we filled the grain bins with sand covering the sand with the sparse grain to guild the Lilly and keep up appearances.
    Our labor wasted on the rubble of two wind mills some literally worked themselves to death on behalf of the corrupt collective.
    Dissent was dealt harshly and the commandment not to kill another was ignored.
    The rules were altered and amended in stealth but most were to ignorant to notice.
    Then the pigs began to act like farmer Jones….drinking alcohol…smoking tobacco…wearing clothes and sleeping in beds.
    The Seven Rules were painted over.
    All the historic struggle and sacrifice returned us to where we started.
    Slaves to a different master!

    Jun 29, 2013 29:21 AM

    Do you ever ask yourself how Hitler came to power? How the population turned their back on the indiscriminate killing of the Jews? How the Germans stole the resources of their European brothers like parasites?
    It all started with an election and the erosion of human rights.
    Is Snowden a wake up call?

      Jun 29, 2013 29:35 AM

      David, I have been saying here for months if not years that facism follows the same step by step methods no matter the time period or place.
      You are correct, that is exactly what is happening.
      Lets hope enough people realise it soon enough.

        Jun 29, 2013 29:10 PM

        Not so sure Benb. The electorate is not that fired up. Hell, half don’t even bother to vote.

          Jun 29, 2013 29:45 PM

          ‘For evil to flourish’ Bird, ‘good men need only do nothing.’ – Burke.

          Whole civilisations go to hell in a handcart on account of the masses nodding off. Have just been to a party in my old parish – people with loads of money and enough booze to keep all fifty of us paralytic for a month but no apparent awareness expressed at just how critical things have become.

            Jun 29, 2013 29:33 PM

            Agree with that Andrew. I see it all the time and it is usually a waste of breathe to even start a discussion. I was talking a friend about the risks to the economy a few weeks back. Was explaining the Derivatives bubble, excess credit, interest rates, systemic risk etcetera and then he just stops me and says…….why do you care?

            Awkward pause follows and I realize I don’t have a good answer because what he is really saying is that I am wasting my time reading and discussing topics that don’t directly relate to past career, don’t put money in my pocket and don’t change anything about the world. And then he starts saying it is just a waste of time and would it not be better to spend more time in the sun enjoying myself! Good grief.

            Somewhere in the back of my mind the idea of a Kondratieff Winter hitting all the people I know and wiping out most of them gives no solace whatsoever. They cannot appreciate the hazards of excess personal debt are more than just a moral issue, nor understand that the deep mortgages and other credit they are accustomed too can suddenly come to an end wrecking most of their lifes plans. Too few have enough cash savings to weather a storm either. It’s all tied up in assets as usual. You know the routine.

            They will insist credit is the way to wealth and argue you can’t get ahead without loans!

            Few are ready. Fewer still care to hear about risk. They don’t even believe it in many cases. For them, anyone reading and discussing the economy daily just has an odd hobby and pastime. Makes no damn sense to them and they do not care to hear details either.

            So while I shun credit and save up for a very rainy day I KNOW is coming, a few acquaintances teeter on the very knife edge of insolvency without even appreciating the balancing act they are engaged in and this is while times are still good!

            And don’t get me wrong, they are not poor. It is just that they have so much at stake without understanding how quickly it could all come apart if their income declined even a little bit.

            The madness of crowds! Is it any wonder the vast majority lose wealth when the economy gets stressed as happened in the US and England after the housing bubbles burst for example? The poor buggers didn’t stand a chance because….. well…..they think understanding economics and finance is just a hobby and not a strategic advantage at winning in the big picture.

            I sure hope they don’t ask to borrow money later.

          Jun 30, 2013 30:14 AM

          Bird, my key word there was “hope” lol. I can “hope” even if it seems forlorn.

      Jun 29, 2013 29:31 AM

      I have asked myself that question many times, David.

      Big Al

        Jun 30, 2013 30:18 AM

        Al, Sure appreciate your suggestion that we share a few glasses of best vino. I very much look forward to that. However we’ve got to give the Bird more credit even if it’s only with a symbolic bottle (given that they guy doesn’t drink!)

        Speaking of the madness of crowds, as I’ve said on previous blogs and for those who’ve got a Kindle: Charles Mackay’s classic ‘Extraordinary Popular Delusions & the madness of crowds’ is now available as free download.

        If you think the tulip mania of C17th Holland (a prize illustration of crowds going demented) won’t ever get repeated, we AIN’T SEEN NUTTIN yet. QE stands to knock all the delusions of past centuries into the proverbial cocked hat.

          Jun 30, 2013 30:04 PM

          Al is pissed because he thinks he knows it all (40 year industry veteran is obvious evidence) but he has discovered belately that there are indeed people more attuned to metals markets than even he. Some of them apparently have better insights for reasons he cannot fathom and he resents them even as he clings to his flimsy “fundamentals” and loses half his wealth in the process. Good work, Big Al. Ever hear what happened to the Neanderthals?

    Jun 29, 2013 29:28 AM

    There is a lot of leverage when you buy stocks that have bottomed, but the problem as I see it is the only way you can really protect yourself is by holding only physical precious metal, what will anything other than these hard assets look like when the smash up occurs from the failure of derivatives which I believe will happen sometime around the end of October this year. I know Roger Wiegand has not always been correct in his predictions but I concur with him on this one, the real time to buy anything is when total capitulation has already happened and if you need to sell some physical to do it so be it. Even then you will probably have to hold 7 to 12 years to realize the potential. DT

      Jun 29, 2013 29:28 AM

      It is hard enough to pick the right exploration junior, but say you invest in one now and they have ten to 16 million in cash, hopefully they can fund their operations but can they? Shouldn’t we be concerned about where their cash is parked and how safe is it if the smash up occurs; surely they too are vulnerable if the banking crisis hits, the point is this it’s not good enough for them just to be cashed up you really need to know if their money can survive a banking crisis. DT

        Jun 29, 2013 29:37 AM

        I would feel much safer with a junior producer that possibly could have some gold or silver set aside just in case, the world we currently inhabit is absolutely in unchartered waters and I can think of maybe eight major flaws in today’s economy that make our world much more dangerous then in the 1930’s. DT

        Jun 29, 2013 29:47 AM

        dick Tracy, There is more information in crowds than you would guess.
        E.g. assuming many people that buy small mining stocks know something about the stocks they are buying is not totally unreasonable. One way to pick out a good stock is to look at which stocks go up percentage-wise on HIGH volume for several days, has a high probability of containing good choices.
        I knew a prof who lived forty plus years on this method, never knowing what a company actually did. He did not care. Just used TA and volume analysis. He was the father of a school friend of mine and died a multi-millionaire, having started from very little. He explained things to me more than he did his son!

          Jun 29, 2013 29:08 PM

          Thanks for the information CFS, you have just revealed that you are a good listener, I like that. DT

            Jun 29, 2013 29:27 PM

            Hi CFS, I have always liked Fortuna Silver Mines listed on The TSX, I haven’t bought yet but they look really good to me, what is your opinion? DT

          Jun 29, 2013 29:13 PM

          Great anecdote CFS. There is wisdom in that story.

    Jun 29, 2013 29:31 AM

    Ed Steer sends another excellent pce today.

    Paul Craig Roberts
    institute for political economy

    Washington, exposed with its hand in the cookie jar devouring the privacy of the entire world and prevented by its hubris from acknowledging its illegal behavior and apologizing, has so mishandled the Snowden affair that Washington has done far more damage to itself than occurred from Snowden’s revelations. Washington has proven conclusively that it has no respect for anyone’s human rights, that it has no respect for any country’s sovereignty, that it has no respect for any moral principles, especially those it most often mouths, and that it relies on coercion and violence alone. The rest of the world now knows who its enemy is.

    Thought it was relevent to the conversation.

    Jun 29, 2013 29:35 AM

    At 1200 gold that is about the cost of production so gold can’t stay below that level for long. Mines would have to shut down causing shortages in gold and maybe that is why investors are jumping back in now. When GDXJ was at $10 I had planned to buy at $8 and bought around 8.90. I bought 10k gdxj and 4k SLV on Friday. Gold could reach 1500 this year and I am not going with those new high forecasts by some experts. 1530 or so might be good enough for this year and I don’t expect more than 1600.

      Jun 29, 2013 29:12 AM

      I think I might buy some GDXJ on Monday….just to offset my initial purchase of 2 years ago…talk about bad timing…..yikes…live and learn….plus I never sold and only will when a double has been accomplished….a triple???…maybe.

        Jun 29, 2013 29:48 PM

        You could risk less and buy options for the same potential gain. Or you could risk the same amount for a much bigger potential gain. Some GDXJ calls I just bought back popped 67% yesterday. Whatever you buy, I think your timing would be close to perfect this time.

          Jun 29, 2013 29:58 PM

          Thanks Matthew….as always my friend…refer to my comment to you up on this thread.

            Jun 29, 2013 29:14 PM

            OMG…..I actually agree with Mathew for once. I must have a fever.

            Jun 29, 2013 29:37 PM


            Matthew has a good point there! But if you don’t know options then you might want to ask Matthew (or someone who trades) what your time frame is, as buying the wrong strike and expiration are THE most important. You MIGHT want to consider buying “deep in the money” or “at the money” options. However, if you feel like a little gamble then “out of the money” LEAPS might be something to consider. Hope it works out for you. I LOVE options because they have a built in stop and I don’t have a lot of capital at risk. Whatever you decide, I hope it works out for you.

          Jun 29, 2013 29:11 PM

          sorry, meant to say “as buying the RIGHT strike and expiration are THE most important.

        Jun 30, 2013 30:15 AM

        Monday might be good to buy as most of the stocks are CDN and it is a holiday here so GDXJ would open much higher on Tuesday if gold is heading up. The risk is likely 90% gone at these prices. GDXJ peaked at over $40. It should eventually get into the 20’s at least sometime next year possibly.

          Jun 30, 2013 30:04 AM

          Mark, Paul and Matthew:
          Thanks guys!

            Jun 30, 2013 30:21 AM

            Any time Buddy!
            Stay frosty in San Diego 😉

      Jun 29, 2013 29:51 AM

      Paul, your contributions are great, thank you.

      Who can tell if we’ll see more liquidation from Big China? I take a look at the lines connecting the lows on the multi-year gold charts. It’s not far, but we aren’t quite there, yet. So I would be surprised to see the yesterday’s V rocket going straight to Mars instead of looking back to touch that line pretty soon.

      By the way, not only was friday gold sub-1200 in USD, it also was sub 1250 in CAD, sub 7500 in CNY, sub 1500 in SGD, sub 120,000 in JPY, sub 12,000 in ZAR, sub 800 in GBP, sub 1150 in CHF, sub 950 in EUR. More reasons everywhere for the “buying once we’re under x” investors to jump in.

      Jun 29, 2013 29:13 PM

      Ahh come on with that crap. Mines were making money when gold was $300 an ounce. Cost of production has not gone up over 400%.

        Jun 30, 2013 30:34 AM

        As sucking in ever more investors, or high grades set aside for the rainy day won’t work forever, you seem to believe in the low oil price scenario,
        Have you presented your reasoning to srsrocco yet?

        Jun 30, 2013 30:04 AM

        It is called inflation. Oil used be $20 per barrel and now around $100. That is a major cost of mining. Grades are getting lower and lower and on average they can only expect 1 gram per ton of ore. Inflation alone would have the price of gold around 1600 at least.

          Jun 30, 2013 30:05 AM

          YEP and/or DITTO!

        Jun 30, 2013 30:00 PM

        Har, Dr. Copper (the metal with a PhD in economics) is down a third from its highs, yet is STILL up 5 fold from its 2001 low. Platinum and the rest of the industrial metals are up an average of 3 fold –despite the terrible economy and high unemployment. Shouldn’t these metals come DOWN in such an environment? Well, it turns out, they have — if measured in real money. As I said, as a group ($GYX), industrial metals are up nearly 3 fold. Corn, wheat, and soy are up more than 3 fold. If we go back to the lows of 1999, oil is up 10 fold; and from 2001 it is up 5.6 fold. From 1999 or 2001, gold is up nearly 5 fold. So, while it is currently lagging oil, it beat commodities on average. Now throw in falling mining grades, as Paul pointed out, rising wages, and the fact that oil (the one commodity that HAS outperformed gold) is one of the greatest expenses a miner faces, and it is not hard to see why the miners are unprofitable here. At the 2011 peak, gold was worth 24 barrels of oil. Today it is worth just 12. The average in 2012 was about 18 -still 50% more than now.
        The bright side to all this is that the downside from here is very limited and the miners are again extremely levered to the gold price. Here’s why. If the cost of production averaged $600 for a miner while gold is $1200, a move to $1400 would increase profits by $200 or 33% (one-third of the original $600). However, if the cost of production was $1100 while gold was $1200, and the gold price went to $1400, profits would triple. The situation today is even better. If cash costs for a miner are $1300 while gold is $1200, the share price would not reflect much value for the ore. It would reflect mostly the value of whatever other assets the company has. So a move to $1400 would take the orebody from no value to some value. As a good drill hole proves, we can see big gains when a company goes from nothing to something. Then, if gold returned to its old high, such a miner would see profits rise 400% (5 fold).
        With so many miners now reflecting armageddon in their price, the potential for an upside explosion is there. I believe that a convincing move to just $1500 to $1600 gold could be the trigger. By Q1 2014, I believe the better senior miners will be up 100% while the better juniors will be up 3 to 5 fold.

          Jun 30, 2013 30:13 PM

          Well judging by your past postings you have been dead wrong on everything for the past two years now, Mathew. Time will tell if your broken record (Oops. I mean broken clock) will finally be correct once and start yielding profits instead of losses. I often like to encourage people like you to go all-in with the theme they promote. It is your ideas man! Gives me an odd sense of satisfaction when you eat crow or silently slink away later. Enjoy the ride buddy.

            Jun 30, 2013 30:14 PM

            Did I call you a blowhard yet today?

            Jun 30, 2013 30:34 PM

            Did you skip your meds today, Bird Sh!t? You have already made it perfectly clear that you are simply the greatest at everything, anywhere, in the history of the world –EVER!…in your own mind. So why are you getting so red in the face?

            Jun 30, 2013 30:50 PM

            It is a joy to read your daily comments, Matty. They often give me a belly laugh.

            Jun 30, 2013 30:50 PM

            Pathced it up with your special other yet by the way?

    Jun 29, 2013 29:23 AM
    Jun 29, 2013 29:32 AM

    Sorry, got last link wrong. It was a report from Ubika cleantech research on Synodon, which appears to have disappeared.

    Jun 29, 2013 29:43 AM

    German concentration camp guards signed a contract.
    The soldiers of soldiers of “Charlie” Company aka 1st Battalion, 20th Infantry Regiment, 11th Brigade of the Americal Division signed a contract and took an oath before their 1968 tour in Vietnam.
    Agreement or none at some point in any relationship the individual has to recognize the dilemma of being obedient to evil.
    If we sign up with the Leviathan and during the course employ we are asked to wear x-ray vision goggles so we can with in stealth/secrecy look in upon our unknowing neighbors do we perform the task? How do we feel when we cash the tainted check? Should we shine a light upon the breach of Natural Law.
    Should we complain up the chain of command only to find not only restful peace but that the medical examiner who performs your autopsy finds similar unscheduled rest.
    Snowden as a conventional whistle blower would have resulted in him dead and the status quo.
    It might just be that Snowden…IRS….reporters wire tapped… everybody wired tapped….reporters blow up…..are just very aggressive shots across the bow to keep us quiet. We are being asked to ignore that we see the pigs walking on two legs and hush up. Stifle Edith!!!!!!!!
    A contract to perform an illegal act is void ab initio.
    A contract to perform an illegal act is a conspiracy!
    But there I go again with a conspiracy theory.
    It is like they are listening in.
    Back to driving a cab with Mel Gibson.

      Jun 29, 2013 29:33 AM

      Good comment, Dennis M!

      Big Al

    Jun 29, 2013 29:53 AM

    US Army blocks personnel`s access to Guardian`s website posted june 28, 2013

      Jun 29, 2013 29:46 AM

      “We make every effort to balance the need to preserve information access with operational security,” Gordon van Goebbels wrote.

      According to former Texas Congressman Ron Paul, espionage means giving “classified information to the enemy” and since Snowden “shared information with the American people,” the U.S. government views U.S. citizens “as the enemy”.

      Jun 29, 2013 29:07 AM

      Pentagon Blocks Guardian Website! “There`s No Reason Now To Believe ONE THING The US Gov`t Says“ posted June 29, 2013,

      Jun 29, 2013 29:27 AM

      Another story its a video 3:19 minutes long The Resident: All Americans are terrorists

    Jun 29, 2013 29:07 AM

    are both relevant to Synodon, but I found a very recent research report (6/28) that just appears pulled as I copied the URL.

    Jun 29, 2013 29:11 AM

    Sheesh, this is one of those days. the https://d1ky22 etc above was supposed to include an interview with Synodon’s CEO ???

    Jun 29, 2013 29:26 AM

    I never realized the bond king, Mr Gross, had such a sense of humor.
    (I should have, knowing in earlier times he had enjoyed himself quite lucratively at Vegas.)

    Jun 29, 2013 29:26 AM

    A gummit that takes over 50% of everything you make AND runs up unimaginable debt that is ruinous. And Dan Pissant believes Snowden is the traitor? Unbelievable.

    Never, ever believe anything your gummit tells you without independent anaysis that is verified!

      Jun 29, 2013 29:34 AM


      I have to agree with you!


      Big Al

    Jun 29, 2013 29:38 AM

    Pissenti, wake up! Obammie is cracking down on whistle blowers! Listening to people with blind faith in gummit lecture us is disgusting!

    Jun 29, 2013 29:41 AM

    WE ask gummit to connect dots? Who is We Dan? I ask gummit to leave me the hell alone.

    And gummit puts in place a way to connect dots? You really believe that?

    Jun 29, 2013 29:41 AM

    Gummit has been “very responsible.” And “they’ve been responsible.”

    Dan, you should be a comedian.

    Jun 29, 2013 29:57 AM

    Dan Pisenti is like so many of his ilk. They pretned to follow and belong to one idelogy(conservative) but whyen the rubber meets the road they are forced to show their real colors. I call this switcheroo. They are fully and complete indoctrinated by polical correctness and do not want to be see on the wrong side of things. The wrong side of things is opinions expressed contrary to MSM and the polical elite. This mind set is most commonly expressed by the RHINOS. This is truely the ” wolf in sheeps clothing syndrone”.

    Jun 29, 2013 29:37 AM

    Are Federal Agents Intimidating High Profile YouTube Community –

    Jun 29, 2013 29:52 AM `The message here is clear, and two-fold. First of all, India`s silver market has clearly turned. The bankster market-rigging has taken the price too low – and ignited the appetites of the world`s most-rabid (and value-conscious) bullion-buyers.` …

    Jun 29, 2013 29:59 AM

    Picked this up last night article `Pawn Star`s Rick Harrison: Difficult Time Getting Any Physical Gold

    Jun 29, 2013 29:10 AM

    Talk, talk, talk about interesting subjects but never a word about God and His Word. Why? The reason is obvious: he has no PRACTICAL place in your lives. Jesus Christ is the Ruler of the Kings of the Earth (see Rev 1:5), but WE never acknowledge Him as such, therefore, He has given us over to the likes of totalitarians like Mr. Obama. Please, please read 1Sam8. When we reject the LORD as our king, we deserve to lose everything we have, even our very lives.

    ‘This is what the king who will reign over you will do: He will take your sons . . . He will take your daughters . . . He will take the best of your fields and vineyards and olive groves and give them to his attendants. He will take a tenth of your grain and of your vintage and give it to his officials and attendants. Your menservants and maidservants and the best of your cattle and donkeys he will take for his own use. He will take a tenth of your flocks, and you yourselves will become his slaves. When that day comes, you will cry out for relief from the king you have chosen, and the LORD will not answer you in that day.’

      Jun 29, 2013 29:55 AM

      Go to your Facebook site, I do, I have others there to comfort me there. Then at times one goes into a public bathroom to take a leak, and you find written on the wall what you`ve written, along with a hand job info thats really awful to see. Chick tracts has become real old, trying to frightening people into believing in God, it sounds like some muslin group beheading/slitting person`s throat war crime going on in in the world, yet there are American servicemen doing the same thing in the world too, thats not getting reported as well. But perhaps what`s got you upset is perhaps some are into making money, like money is an issue with you. Tough luck. I could go into it as well, and reel it off, & run off everybody off this site, like a file log…..

      Jun 29, 2013 29:45 PM

      A true Ruler would have been able to save himself expecially if he was truly connected with God. I don’t have to worry as I have no grain, vineyards, olive groves, servants, fields, cattle or donkeys but I do believe in God but some any human that declares a direct connection with God or claims to have spoken to God.

        Jun 29, 2013 29:17 PM

        Before you dismiss the origin of Jesus Christ. Please consider this” WHY would twelve men (NOT 13 – The Romans tried to execute John through poisoning but he survived) follow this man to their untimely deaths with great zeal and before that proclaim great deeds and wonderments while constantly preaching the “good news” of his teachings. Surely you dont believe that this persistence in behavior by simplistic, uneducated and pretty much, cowards, would create such men incredible faith. There is not ONE OTHER story EVER recorded in the history of mankind that created such a radiant following. Surely, there must have been something of supernatural power to establish SUCH A BOND. Something to ponder my friend.
        All the best,

          Jun 29, 2013 29:53 PM

          Marc, I have to disagree that there is no other that creates following like Jesus.
          Take a look at the films of the people going to see the pope,hitler or maybe even a rock concert.
          Now if you were to say, no other had such marketing or maybe recording of events. maybe that would be true.
          But I might think there are other recordings in languages lost maybe.

          Jun 30, 2013 30:36 PM

          There appears to be such supernatural powers from teachings if we can assume they are true and I don’t dismiss anything. Sorry. Something big happened to me suddenly this year with my accounting business just suddenly doubling in revenue after years of going nowhere when I suddenly met a special gentleman with connections. Some supernatural powers is out there. Working almost 7 days a week now.

          Jun 30, 2013 30:41 PM

          I’ve pondered.

          Maybe it was because they were getting fed and housed without having to actually work hard. Just one random thought.

          As for not one other story in history created such such a following.
          That is merely a statement about your ignorance of history.
          History is replete with heroes and charlatans both gaining large followings.

        Jun 29, 2013 29:21 PM

        As many as are led by the Spirit of God, are the sons of God (Romans 8:14). Sorry I do have a witness in my spirit of God`s voice to my hidden man of the heart. A hunch if you will, that if I`m quiet within myself I hear His voice. If you read the Bible it speak`s to you out of that printed word, but that`s only happens to those that are truly born-again, and submitted to His will. But ye, beloved, building up yourselves on your most holy faith, praying in the Holy Ghost[praying in tongues]. (Jude v20; 1st Corinthians chapter 14)

      Jun 29, 2013 29:04 PM

      Chill out my friend. You have no idea what is in the hearts of the participants here. Woe to the man who places his comments in the mouth of the ultimate “ruler”. I suggest you pray for guidance and prudence. ” KEEP Clean your side of the street” and let others clean and take responsibility for theirs. Period…..

      Jun 30, 2013 30:00 AM

      Thank you Wayne, I shall re-read I Sam 8,

      Blessings, Andrew

      Jun 30, 2013 30:12 PM

      I can guarantee you, Wayne it is not just “talk” to me!

      Big Al

        Jun 30, 2013 30:35 PM

        Time for you to reread a few passages perhaps? Pride cometh before the fall, Al. Remember Mathew 6:19-21 too before bragging about your wealth and 10 baggers in your past glory days to an online audience. An obsession with metals is both symbolically and metaphorically a turning away from the Lord and his teachings. It is the “sin of the calf” as exemplified by Moses who upon returning from Mount Sainai discovered his people worshipping an object made of gold. But you must know that you cannot re-create the grace of God in the physcal shape and form of an Apis bull. I assume you know better anyway. Your daily obsession with prices is just indicative of the greed that resides in your heart. I conclude your tremendous current losses are a just punishment for your wanton ways and there is little redemption for those like you until you have lost everything and finally repent and ask forgiveness.

        You have lost your way.

          Jun 30, 2013 30:04 PM

          Thanks, that was great! And I was beginning to think you didn’t have a sense of humor!

          Hey bird ….you are a little short on knowledge of today’s forgiveness,,,,,WE ARE NOT UNDER THE LAW…………your are quoting MOSIC LAW………..

            Besides…..EVERYONE HAS BEEN FORGIVEN……and when you quote from MATTHEW IN THE BIBLE…..that is the message to the JEWS…….

            A sin is a sin….everyone has fallen short…….do not judge, for you will be judged,

            as it is written……get the log, out of yours own eye, and stop talking about the toothpick in everyone elses…………..

            Jul 01, 2013 01:01 AM

            Jerry, this Loonie Bird flipped his lid last night and has set his sights on me and Al. He was apparently set off by a simple comment Al made yesterday under the Bob Moriarty interview on the 27th. You see, if Bird thinks you disagree with him in any way, then you are evil!

            I think he is also, using other monikers… his attacks…..or maybe there is flock of these loonies………..

    Jun 29, 2013 29:43 AM

    Al, have you ever had Jim Rickards on your show, very smart man when it comes to knowledge of the Fed and their manipulation over the years….

    Wayne……you must not be a daily reader………..go, back and read some posts from the other day……..

    Jun 29, 2013 29:18 PM

    Dan Pisenti feels that Snowden is a traitor. Do you agree?

    Mr. Pisenti confesses himself that Snowden didn`t reveal anything we didn`t already know about. So why go to the extreme here and call him a “traitor”? Do you know what is still the penalty for treason, sir? The death penalty. Do you believe Snowden deserves the death penalty for providing some proof of what we knew was going on already?

    As far as if the government is interested in our conversations, which Mr. Pisenti trivalized, spying has been more about commercial secrets these last decades than anything else. And if you are in politics, and someone has access to all you say or do, blackmailing becomes much easier.

    And finally, the 4th amendment states:

    “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.”

    What Snowden revealed is that this government, created to secure our liberties, including the right to privacy, which the 4th amendment attemps to protect, this government has been breaching this part if its contract with the people for years.

    Now, tell me, who are the “traitors” and anarchists here?

    From my view, Snowden does not make it on the list.

      Jun 29, 2013 29:45 PM

      Agree Snowdon told us nothing. He brought no evidence to light. Any idiot could have said the same damn thing. We all knew it was taking place anyway. The whole story stinks to high heaven and is just a distraction for the fools who stay glued to their TV sets with a bowl of Cheetos as they bicker with neighbors and judge a great piece of modern fiction.

        Jun 30, 2013 30:42 AM

        Birdman … I agree!!! This is as pathetic a story as is the entire Lindsey Williams hogwash … Who writes this stuff? Probably the same folks who write Alex Jones’ material. My only concern is that people actually believe it.

          Jun 30, 2013 30:36 AM

          Thank God I am not the only one who thinks this whole show is just a pubic drama and distraction! What we always need to be on the lookout for though are the real stories that get buried under the avalanche of media focus on a single topic that has the nation transfixed. Something much bigger is always taking place in the background and even though it gets reported few tune in to listen as they are absorbed by the circus type story.

            Jun 30, 2013 30:06 AM

            I concur … those who think that they are in the know because they listen to “patriot” radio are equally duped as those who channel surf … FOX, CNN, FOX, CNN, ABC, NBC, OWN, FOX, CNN … (they then repeat the mind numbing experience when they arrive home from work the following day). The only difference is that it looks more like this: ALEX JONES, RENSE, ALEX JONES, DRUDGE, RENSE, TEXE MARRS, ALEX JONES, MARK DICE, DRUDGE, etc. (they then repeat the mind numbing experience when they arrive home from work the following day … from the comfort of their underground bunkers).

            HOOK … LINE … SINKER …got em all (people surely don’t know how to think outside of the box).

            BIRDMAN: If you haven’t done so yet, read “The Crowd Study of the Popular Mind” by Gustave Le Bon. It is fascinating … it explains A LOT in my opinion.

          Jun 30, 2013 30:33 AM

          Bentnail, where’ve you’ve been all this time?! Gustav le Bon’s book sounds interesting, as of course is Charles Mackay’s Popular delusions and the madnesss of crowds. A

            Jun 30, 2013 30:49 AM

            ANDREW DE BERRY (REV):

            I have been here all along (just silent).

            Jun 30, 2013 30:51 AM

            BTW — thanks for bringing the book to my attention — I will certainly check it out.

        Jun 30, 2013 30:25 AM


      Jun 29, 2013 29:57 PM

      From this youtube video this woman says it was really hard to find anybody who would even try the case because the word out there was to bury the case. Because it would piss-off the judges of the court apparatus, if they even tried the case, it would simply be blocked. So going public as Whistleblowers is near impossible in this day and age, esp. here in America. Its damned if you do, & damned if you don`t. `Sibel Edmonds Blows the Whistle on Government Blackmailing with this video, as its hard to follow her, but its gets better as you listen to it further you get into it. … The problem with what`s going on is far worse esp., if you realize that it may not be, quote “the government, as in the President or his camp followers that are in control, but its the NSA/CIA/FBI and their little black books that`s allowing them to rule with impunity with their close personal friends the Bankster class. This has been going on well before Obama, into Bush`s Presidency.

    Jun 29, 2013 29:06 PM

    Central Ohio Saturday outdoor plans met rain.
    In a lull I offered some of my above commentary to my lovely wife. She said with wisdom and loving concern “You should be careful what you write.”
    I expressed empathy to her concern then offered “Do you see the irony?”

      Jun 29, 2013 29:46 PM

      I am careful, but if we all our careful, then its over, done deal. `The Ugly Truth — Western backed Syrian terrorists behead Christians for helping military, as CIA ships in arms One picture tells a thousand words, though this christian will rise again in the last trump……

        Jun 30, 2013 30:51 AM

        The picture is utterly vile Dennis. But as you say all Christian victims will rise again, Andrew

          Jun 30, 2013 30:06 AM

          I wish upon no one tomorrow’s equivalent of yesterday’s lions.
          But it better to face the lions than to acquiesce to evil.

            Jun 30, 2013 30:08 AM

            I wish upon no one tomorrow’s equivalent of yesterday’s lions.
            But it is better to face the lions than to acquiesce to evil.

        Jun 30, 2013 30:44 AM

        Now you guys got me guessing. “rise again in the last trump?” Christian victims? How on earth are christians more victim than anyone else?
        But this beheading garbage, (the more I know people the more I like animals) I have been telling some christians what /who they actually support when they support these guys and Isreal. Mostly to no avail, but the canabilism kinda made things obvious, they are still unsure about Isreals genocide of palistinians but they wonder now anyway.

          Jun 30, 2013 30:30 PM


          People are DECEIVED with a capital “D” — there is a great reason for this too: they refuse to do their own research because they are simply TOO LAZY. And yet, this is understandable considering how much easier it is to flick on the tube and drift into a global trance while watching one of umpteen controlled mainstream media channels, listening to one of umpteen controlled “alternative” media talk shows, or just admiring the sheer beauty of the trance-inducing colors found in children’s television programs (note: they call it “programming” for a reason).

          For the rest of us, who are few and far between, we choose to put our noses to the grindstone and do our own research, which is often tedious I might add. I must say though, it is well worth the effort. You see, in doing so I am able to discern that what you are describing (Muslim vs. Christian) is simply a part of the New Age agenda (known as “the Plan”).

          What am I talking about? Well, if you have ever read any New Age books, which you probably have, considering you embrace New Age teachings, you should know that the leading New Age authors openly discuss in their books that in order to usher in the One World Religion of “the Christ” (antichrist), they must first convince the world that all monotheists (Jews, Muslims, Christians) and separatists (anyone who refuses to accept the New Age beliefs / lies), are the “real threat” to humanity. On that note, allow me to provide you with just two examples (out of literally hundreds) that explain their views on who “God” is. The following is taken from (founder was a woman named Alice Bailey, a leading figure in the New Age Movement) – it talks about Lucifer’s [Satan’s] alleged sacrifice for mankind:

          And here is a quote from the mother of the New Age herself, Madame Helen Blavatsky:

          “One of the most hidden secrets involves the so-called fall of Angels. Satan and his rebellious host will thus prove to have become the direct Saviours and Creators of divine man. Thus Satan, once he ceases to be viewed in the superstitious spirit of the church, grows into the grandiose image it is Satan who is the God of our planet and the only God. Satan (or Lucifer) represents the Centrifugal Energy of the Universe this ever-living symbol of self-sacrifice for the intellectual independence of humanity.” H.P. Blavatsky, The Secret Doctrine, pg. 215, 216, 220,245,255,533

          NOTE: her book is called “the SECRET doctrine” — this is the exact same SECRET that was hidden from the masses in the film called the SECRET (promoted by Oprah the New Age queen) — the SECRET [lie] has not changed since the garden of Eden — that LUCIFER / SATAN is good for revealing hidden “wisdom” to man and that God is evil for supposedly hiding it (everything is reversed) — and that MAN IS DIVINE (one with the universe). Isn’t it interesting that the bible reveals the following in the book of Isaiah “Woe unto them that call evil good, and good evil; that put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!” And that is EXACTLY what the New Age / EVERY secret society under the sun does — the turn the tables on truth so that the ignorant masses are led to hell (and trust me, there are many such people on account of man’s laziness – it is far easier to allow others to do their thinking for them). No wonder the ONE TRUE GOD warns, “MY PEOPLE PERISH FOR LACK OF KNOWLEDGE.”

          Leading New Age proponents brag about how monotheists will be killed off in the last days to make way for their Satanic world religion that is slickly dressed up in false garments of “love”, “peace”, and “tolerance”. Ironically, the exact opposite is true. REMEMBER: everything is turned upside down in the world of the occult since it is based on Gnosticism (up is down / down is up). And so, when they talk about peace, they simply mean that there cannot be peace until CHRIST and THE CROSS are removed (hence the “peace sign” being a broken cross – also called, Nero’s cross).

          They go on to talk about how everyone will be forced to take a Luciferian / Satanic initiation before we can enter into the New Age (make a pledge to Lucifer / Satan).

          Here is what New Age leader, David Spangler, has to say:

          “The true light of Lucifer cannot be seen through sorrow, through darkness, through rejection. The true light of this great being can only be recognized when one’s own eyes can see with the light of the Christ, the light of the inner sun. Lucifer works within each of us to bring us to wholeness, and as we move into a new age, which is the age of man’s wholeness, each of us in some way is brought to that point which I term the Luciferic initiation, the particular doorway through which the individual must pass if he is to come fully into the presence of his light and his wholeness.”

          “Lucifer comes to give us the final gift of wholeness. If we accept it, then he is free and we are free. That is the Luciferic initiation. It is one that many people now, and in the days ahead, will be facing, for it is an initiation into the New Age. It is an initiation of leaving the past and moving into the new, shedding our guilts and fears, our anxieties, our needs, our temptations, and becoming whole and at peace because we have recognized our inner light and the light that enfolds us, the light of God.”

          Of course, the bible warns that this will happen in the lasts days (everyone shall receive a MARK on their right hand or forehead signifying that they have chosen to place their trust in Lucifer / Satan).

          You may find it interesting that the bible also says that when Christ returns He will separate the sheep (believers) from the goats (unbelievers). Isn’t it the least bit curious that one of the key symbols in the occult sciences is Baphomet (a GOAT)? Of course, this is also a chief symbol in the Church of Satan.

          The bible doesn’t mess around — it has pinpoint accuracy — here is what it says in the book of Matthew (note: we are told in scripture that the Lord is our Shepherd and that we are His sheep – He shall lead us to safety) — but here is what it says:

          “When the Son of man shall come in his glory, and all the holy angels with him, then shall he sit upon the throne of his glory: And before him shall be gathered all nations: and he shall separate them one from another, as a shepherd divideth his sheep from the goats: And he shall set the sheep on his right hand, but the goats on the left.”

          REMEMBER THAT THE NEW AGE MOVEMENT TEACHES THAT SATAN / LUCIFER IS BOTH LIGHT-BEARER AND GOD — the New Age worships Baphomet — as do musicians like Lady Gaga and Madonna (Satanist / Kabbalist respectively).

          At any rate, I am digressing. My point is this: a little knowledge goes a very long way in this seemingly confusing world. Trusting in the mainstream media and snake oil salesmen like Alex Jones, Lindsey Williams, etc. is about as wise as it would be to jump head first into a tank of starving piranhas.

          All I am saying is “USE SOME COMMON SENSE” – do you honestly think that those in charge do not have ech of their bases covered (they control both sides of every coin – mainstream media AND alternative media)? It is surely NOT a coincidence that everyone and their dog is barking the same tune (central bankers control the world / Obama is bringing in tyranny / the Muslims, Jews, and Christians are out to destroy world peace / blah blah blah) — THINK OUTSIDE OF THE BOX — and when you think that you have — THINK EVEN HARDER — because the outside of the box is never what it appears to be.

          Most important of all, READ THE BIBLE!!! God will NEVER lead you astray – He is the REVEALER of secrets – Satan and his New Age Movement / Secret societies are by their own admission, the CONCEALER of secrets (they only tell you enough info to get you to follow the proverbial carrot) – you will certainly not hear Oprah and her New Age cohorts say that Lucifer / Satan is god and that he lives inside everyone and everything (but that is exactly what 99.9% of them believe).

          The fact that most New Agers (like yourself) do not even know what leading New Agers believe is evidence enough that they are being played like fine fiddles on this earthly plantation. The truth is that those who are at the top of the New Age pyramid / Secret societies are Luciferians / Satanists and are committed to the utter destruction of earth to usher in their Satanic kingdom. Why? Because the destruction of earth / people goes hand in hand with their favorite motto (order out of chaos). That is to say, if one creates enough chaos on earth, the pathetic New Age / New World Order can rise out of the ashes like symbolic the phonix bird (Satan). What a pipe dream that is. Yes, it will hapen according to scripture, but Satan’s laughable empire will be very short lived and all who choose to take his side as opposed to Jesus Christ’s will go down in flames (literally) – not because God is evil – but because man is evil and has willingly chosen to not enter into a loving relationship with the Creator.

          I believe that deep down, everyone knows there is a hell – they simply choose to ignore this reality so that they can live it up without feeling accountable for their actions (try using the same logic in a court of law — “yes judge, I did beat that old lady silly for her purse but I don’t believe that I will be held accountable and so I will now walk out of this courthouse.” — GOOD LUCK ON THAT ONE!!! According to the “loving god” of the New Age, that is exactly how it should work — that is very logical — but then again, of course it is logical because no one would buy into the lie of the New Age teachings if Satan and his New Age minions were in the business of truth-telling. The bible says that he was a liar from the beginning, and so are all of the leading New Age authors / leaders (keeping the truth from the masses is a form of lying called deception). This is why you should never put your trust in man.

          In short, don’t believe everything that you read / hear. Keep in mind that there is always a hidden agenda when you begin to hear repetitive stories in the news — or repetitive themes such as “central bankers run the world” — “we need to take back America because Obama is bring in tyranny.” Never forget that!!! (AFFIRM, REPETITION, CONTAGION). And for heaven’s sake, read your bible – I promise you, God will show you truth if you ask Him to — and I am not talking about the bogus universal force as is taught in the New Age Movement (I am referring to the ONE TRUE GOD as is revealed to us in scripture – God the Father, God the Son, God the Holy Spirit).

            Jun 30, 2013 30:56 PM

            Thanks Bentnail. I agree 100% that the New Age Messiahs are satan incarnate. There has never in all history been a more selfish, greedy, narcissistic group of “faith promoters” than those who attempt to lead and mislead the modern religious movement. They have twisted scripture and truths to suit their own agenda while putting on every twisted rationalization to make a case that just does not ring true with ordinary people. The New Age leaders are an insult and a profanity on the words of wisdom from the past and their books deserve to be burned.

            Jul 01, 2013 01:12 AM

            Come on guys .. I was reading a Shirly McClain book and you ruined the end for me!
            There is no need to burn the books the absurd will just be re-written sooner. Sunlight is the best disinfetant! Let truth be a menace…but this is why evil is so often presented with prohibition of dissent….no chance to debate.

    Jun 29, 2013 29:59 PM

    Profit By Betting Against The Crowd by James Gruber on June 29, 2013, ……. What happens when you buy assets down 80% ? ……………. Other supportive evidence …………. Cons to the approach ………………… Assets that qualify………. There`s a traders saying that warns against trying to “catch a falling knife“. This should be good for Big Al, ………………“It`s hard to buy something down 80%, especially when you owned it when it was down 30%, 50%, then 80%. But usually that is a great time to be wading in … Some recent examples of assets that have got clobbered include tech in 2002, homebuilders in 2009, and Greece and (Junior) Gold Miners now.“

      Jun 29, 2013 29:44 PM

      And CORN last week.

    Jun 29, 2013 29:31 PM

    I say you give them an inch they will take a MILE, and then some ! Definitely do not agree with Dan. Pisenti .

      Jun 30, 2013 30:23 AM

      After realizing that his apearance was not a comedian role of Mr. Smart Lemming Average, I put on those glasses salvaged from the They Live movie set. Guess what his slick photo turned into?

      Jun 30, 2013 30:35 AM


    Jun 30, 2013 30:47 AM

    The soldiers who crucified Jesus Christ were in contract and followed the law.
    It is not even close to being that all laws are moral.
    For the agnostics it is not even close to being the case that all laws are just.
    It also should be noted that that justice means to be dealt with in a manner deserved.
    To be treated unjustly (or with injustice) means to be dealt with in a manner which is inconsistent with the circumstance.
    Injustice usually is understood to mean the consequence is too harsh for the culpable.
    However, mercy is within the category of unjust.
    The circumstance with which the culpable presents is delivered leniency when actually fairness would have delivered greater sanction.
    Mercy may be more palatable for the timid but it is just as unjust as to deliver a harsher blow.
    The search for mercy may be a difficult one but the object of the search is not illusory thanks to the soldiers who crucified Jesus Christ.

    Jun 30, 2013 30:34 AM

    EU demands ‘full clarification’ over NSA spying on European diplomats, warns of severe impact on relations

    RT reports how the EU feels about U.S. spying.
    Starting to sound like Paul Craig Roberts was right yet again.

    Jun 30, 2013 30:27 AM

    I think Mr. Pisenti is missing a very important point. The constitution and the American system of governance is built on a system of checks and balances. The right to freedom of speech and the right to bear arms are 2 examples where the people have been given power to stand as an ultimate check against government that has overstepped its bounds. America was founded on the principle of freedom from oppression and had for many years empowered individuals and families to live with freedom and dignity.

    We now have successive governments, both Democrat and Republican, that have encroached more and more on the liberties and dignity of Americans. Giving the government such far-reaching power is quite dangerous and although we are not yet a police state, we are moving in that direction.

    Mr. Pisenti said at one point that the government has used their power responsibly. However, we have a recent IRS scandal where Democrats are accused of using the IRS to target conservative organizations. In the past, we have seen internment of Japanese Americans, organized targeting of suspected Communists, and institutionalized attempts at driving blacks out of the farming industry.

    In all cases, the government, using whatever resources they had at their disposal, took action against Americans who did not have the knowledge, information, organization, or capability of fighting back against the unjust oppression.

    Now the government has the capability and a demonstrated willingness to listen to phone calls, monitor e-mails, and God know what else. This is not something that came out of thin air. It would have taken decades, millions of dollars, and thousands of people to put this all together.

    This capability of invading the privacy of Americans was a premeditated and deliberate program to gain knowledge about individuals and groups of American citizens and residents. It required approval of funding and in-depth knowledge of the illegality and moral consequences of the program by people at the most senior levels of government.

    This information, combined with the enforcement capabilities of the FBI, IRS, and various other agencies gives the government the capability to target and attack any group of people deemed necessary by a small group of highly placed people.

    The “fact” (and we don’t know this for sure) that they have not abused this power yet is nothing short of fortunate. But as anyone with any experience in government knows, if a capability exists, it will be used. Just look at the “voluntary” income tax as an example.

    Mr. Pisenti is looking through rose-colored glasses and telling us that everything is rosy. I disagree with the way that Mr. Snowden blew the whistle, but it is good that we now have open knowledge about this program. It is now up to individuals and groups of Americans to decide how they want to address the issue of POTENTIAL government oppression.

      Jun 30, 2013 30:26 AM

      We live on an eminence front.
      Sometimes people forget how difficult it is to artfully incorporate jazzy keyboard riffs into a driving rock song.
      Sometimes people forget we have always and will until the end of time be in a battle between good v. evil….. however we wish to define those two terms.
      Individual creativity is a requisite for man-made beauty. There is a short distance between controlling(ugly) and creating(beauty). We live on an “Eminence front” between creators and controllers.
      Mr. Pisenti sided in this broadcast with the controllers. I think siding with the creators is the way to go….. up and until in defense of yourself and those you love you it is required to preserve liberty….the individual….creativity…. and then you “come to the party” and you must “dress yourself to kill”…….. or be condemned for not doing so!

        Jun 30, 2013 30:29 PM

        Or maybe we should submit…..sit like an obeying servant dog…and feed the lion….the Leviathan beast? I think that that is not an option!

        Jun 30, 2013 30:05 PM

        Don`t fall on your sword, we need you here to bring balance to Al`s show. Usually everybody avoids me on this site except Jerry. And if the bird comments its usually a put-down comment, defending his central banker outward thinking, bearish positions on gold and how wonderful paper gold is. Though doing paper is perhaps the only way to survive in this market climate, but not for me. I`m into mining/refining the metals for selling them.

          Jun 30, 2013 30:31 PM

          From one Dennis to another……..
          A prayer thought before hunting the Leviathan…,to wit:

          Jun 30, 2013 30:36 PM

          I dont avoid you Dennis. I may not post but I recall a time or 2 I took special interest in your perspective. Youve givin me info, as lots of others have too.
          Bird too, fast becomeing a favorite. Just had to say it cause lots of duckhunters here. lol. Sometimes I dont say anything just because I know my opinion wont be appreciated and other times….oh well. But nobody is being avoided by this goldbug.
          There is alot of valuable insight on this blog/forum and the contributers are equally as valuable as the “gurus” in my opinion.
          Al gave an incredible amount of time off to Doc and Rick Akerman, and its time we heard from TR too.

            Jun 30, 2013 30:30 PM

            benb if all are thinking the same thing no one is thinking, as AL says its all about diversification. In many counsellers is much wisdom. In contrast look at Obama, he`s got only two or three that are close to him to console with, then look at what we have in this country, only desolation. In Jack Kennedy`s adminstration he had many bright people that he had around him.

            Jun 30, 2013 30:03 PM

            Thats true Denis, I am in the camp that the presedent takes orders from oil,banks and military. I believe right or wrong JFK was the last presedent.
            He was after Eisenhower if I recall, Eisenhower gave the warning about the military industrial complex, JFK I believe tried to eliminate it. He asked the navy? to disband the cia. oh well, who would have believed in magic bullets before then? now, lots do. anyway, so many in fact that people believe 3 towers can come down with 2 planes, Im not christian but “good lord people!” as far as I am concerned since JFK every presedent has taken orders. imo.Bird disagrees but I like to think people are wakeing up, my grandmothers last words were “where there is faith,there is hope”

            Jun 30, 2013 30:12 PM

            JFK’s wall of SHAME

            Dean Rusk, C. Douglas Dillon, Robert S. McNamara, Robert F. Kennedy, J. Edward Day,
            John A. Gronouski, Stewart L. Udall, Orville L. Freeman, Luther H. Hodges, Arthur J. Goldberg….
            To the extent these advisors are held in high esteem says more about PR than the results they obtained for the country. In reality none of them did anything but sit in a government corner office aspiring to sit in an oval some day. Aspiring in whatever office to take orders from anyone but the citizens who once consented their contrivance…….W. Willard Wirtz, Abraham A. Ribicoff, Anthony J. Celebrezze……

            Jun 30, 2013 30:55 PM

            To Dennis M., well history is best served by review of history. Robert McNamara did do many things that were wrong to both Kennedy & LBJ, the others were of legend. My mom loved the Kennedy`s, but the Kennedy curse was of his father who entreated with Hitler and getting inside info on repeal of prohibition, from FDR. And to Benb, about the military industrial complex, it figures, with Kennedy. Oh well…..

          Dennis…..if you need any help brother …..just call……sorry,,I did not post earlier,,,,I just got some free time………

      Jun 30, 2013 30:58 PM

      OK….that was a very interesting comment, Pawani!

        Jun 30, 2013 30:07 PM

        And also Dennis and Benb. Interesting discourse. By the way, Dennis….I don’t ignore you either. Like most people I am probably more reactive to comments that get on my nerves than to those I agree with. That explains why I argue with the likes of the two Jerry’s who my wife seems to find very amusing even when they irritate me!

    […] discuss this topic with Korelin economics in the weekend report weekend report. Written by Gold […]

    Jun 30, 2013 30:24 PM

    I Love the direction gold and silver are moving this evening……up and away.

    I know it’s early yet and next Friday will be scary, markets open, but low volume.

    Jun 30, 2013 30:29 PM

    So did you really think Big Brother only listened in on phone calls and read emails. Of course not, they keep records of all your credit card use.
    So if you thinking of buying a backpack and some dynamite you better not charge it!

    You get that Uncle?

    Jun 30, 2013 30:31 PM

    This is about recording credit card data…..I just wanted to write the 200th comment.

    Jun 30, 2013 30:12 PM

    1) Syrian war to spread into WWIII,
    2) U.S. debt keeps getting bigger
    3) More people on welfare/Food Stamps than ever
    4) More people on a disability paycheck more than ever
    5) 24% jobless rate in America
    6) low wage restaurant/bar type jobs are the new economy
    7) gay marriage and gay parades going on everywhere
    8) Sequestration just really starting in July and the negative impact will be felt bigtime by September.
    9) Europe is an economic, financial and social basketcase to collapse
    10) China according to Gordon Chang will collapse in 2 weeks to 6 months

    There is no safety net. Everyone will be taken down when the banks close and everything comes to a halt.

    Have a great day !!!!!!!!!!!!!!

      Jun 30, 2013 30:34 PM

      You might find an article I came across this morning really interesting, Fred.

      It lends some credence to what you are seeing as facts and ask questions about why we are experiencing outcomes that are inverse to expectations for the economy. The author, Frances Coppola, has offered that QE intervention may actually be having a long run deflationary impact.

      It is exactly opposite what most people expected.

      I had never read anything from her until this morning but she makes a really interesting and compelling case that is worth reading even if it is an incomplete thought. Frances suggests that bond buying and low interest rates are actually leading to a falling CPI and inadvertantly creating the very conditions that Fed injections of money are meant to reverse.

      That is to say that instead of being stimulative of the economy, the bond buying programme and flattening of interest rates have instead created distortions that have created the conditions for a deflation because monetary policy is not impacting on wages but only on assets which are controlled by the wealthiest in society. She seems to argue for an increase in fiscal initiatives although that is not clearly specified.

      It is really an interesting point of view and one that I have not seen before. She writes:

      “Under-employment and falling productivity force down real incomes. Add to this the effects of fiscal tightening in both the UK and the US, which hit working people on middle to low incomes disproportionately, and to my mind you have a significant hit to aggregate demand which is sufficient to explain deflation in both countries. Both UK and US governments believe that monetary tools such as QE can offset the contractionary impact of fiscal tightening. But this is wrong. Fiscal tightening principally affects those who live on earned income. QE supports asset prices, but it does nothing to support incomes. So QE cannot possibly offset the effects of fiscal tightening in the lives of ordinary working people – the largest part of the population. In fact because it seems to discourage productive corporate investment, it may even reinforce downwards pressure on real incomes. And when the real incomes of most people fall, so does demand for goods and services, which puts downward pressure on prices, driving companies to reduce costs by cutting hours, wages and jobs. This form of deflation is a vicious feedback loop between incomes, sales and consumer prices, which in my view propping up asset prices can do little to prevent”.

      Here is the whole article if it is of interest. Obviously Frances is on the side of ending QE’s and letting the chips fall where they may if only to set up the circumstances for genuine investment and a resumption of growth without the distortions of interventionist policy.

      But will it lead to a decline in the numbers of people on food stamps? Will employment increase if confidence rises amongst business leaders that we have returned to base economic fundamentals? Will interest rates and the prospects for savers normalize to the extent that they no longer take uneccesary risk to achieve a fair yield and thus allow savings to once again play a role in productive investment in the economy.

      So many questions that need answers.

      Coppola Comment…..Inflation, Deflation and QE

    Jun 30, 2013 30:31 PM

    Segment 6.

    Mr. Pissnti is 110% WRONG!

    For years, transcripts of phone records are presented as evidence by the prosecution. How is it they can retrieve these phone conversations verbatim? Obviously some government agency is archiving ALL of this on everyone—every keystroke, very word spoken over electronic media is being archived! Look at these salacious court cases covered on CNN & NBC when transcripts of phone conversation presented as evidence.

    Mr. Snowden simply stated the obvious. Now it’s a full court press by the corporate media shills to focus on the messenger instead of questioning the Constitutionality of eavesdropping and spying on private citizens without cause or warrants simply because the ELINT has evolved to such a state to make it possible.

    Jun 30, 2013 30:55 PM

    Once the facists of the 30-40s were firmly in control they went back as far as a decade to persecute dissenters. This time, with everything recorded it will be much more efficient to catch the varmits.

    Jun 30, 2013 30:23 PM

    Looks like Al’s moderator is censoring posts — I “tried” to post a reply to BENB over 3 hours ago and it has not been approved as of yet … go figure!!!

      Jun 30, 2013 30:06 PM

      Thats happened to me too, maybe its random, I never say anything contraversial.

        Jun 30, 2013 30:51 PM

        What I said could be construed as being controversial by some. But hey, all that I say is backed by 100% documented evidence and / or is stated as my opinion and nothing else. Apparently someone does not like what I have to say / share, which makes one wonder why the censorship!!!

    Jun 30, 2013 30:24 PM

    make that 4 1/2 hours ago

      Jun 30, 2013 30:34 PM

      Did you put more than one link in your post? That got me every time, prompting the message, “awaiting moderation.”

    Jun 30, 2013 30:29 PM

    The question may be…… should Ahab fear Ahab, or should Ahab fear Moby Dick?
    Maybe Ahab should have waited for the Leviathan to seek him out?
    But that only leaves us the consideration where are we today?
    Today no one has engaged a long journey dismissing objectives to find the need to gaze at the breaching Leviathan. What did the people of Corsica do to deserve the precursor bail-in? A large white whale has arrived in our safe harbors. There is no choice to ignore the Spanish Gold ounce nailed to the mast. “What say ye…..Starbuck?”
    Today whether or not to engage the Leviathan is not a question! If we choose not to engage the swelling great white whale there will be no luxury in status quo and/or retreat. Starbuck may have hinted at neutrality and/or a different course but such a luxury does not exist as it may have in Herman Melville’s time. Today’s only Starbuck luxury choice is more of a “Battle of the Bulge” kind of smoke them if you got them choice like a “Quadriginoctuple Frap”:

    Jul 01, 2013 01:58 AM

    Lot 242….Boy am I getting bewildered, so here’s my two-pennyworth:

    I’m tempted to start with ‘Dearly Beloved….’

    But in more colloquial English I’m getting truly pissed off with some of the rubbish being spouted by certain fundamentalist Christians convinced by their own scriptural rhetoric as to how it will all go down in these ‘end times’. The truth is NONE of us knows for sure, however striking some of the signs may be. Even as we’re told to watch and pray Jesus tells us that we are not privy to when these final events take place. On top of that we’ve got all manner of name calling which frankly I find wearisome rather than hilarious. That too is in conflict with the teachings of Jesus about showing humility and kindness. Name calling gets none of us anywhere.

    Clearly there are some king-size egos at work manifesting themselves through ingratitude and hubris, even going so far as to infer that it’s the Lord’s judgment because some/most of us have lost large tranches of money in this two year PM debacle. What’s to say that the whole experience isn’t more a test of faith with better things lying ahead? Please, please some of you stupid people stop playing God and get with the programme. Stop assuming that some of you have a hot-line to God while the rest of us are left to reap the Lord’s judgment. Religious certitude is odious!

    There are further suggestions that Al’s censoring this site. Well to be honest I wouldn’t give house-room to some of the gibberish now being spouted. More to the point paranoia invariably runs amok when you get some of the religious fanaticism now being inflicted upon us.

    And lastly a big THANKYOU to you Al and to all (most of) your very worthy and esteemed guests.

    From a guy who without apology admits to knowing very little, Andrew

      Jul 01, 2013 01:17 AM

      Great comment Andrew!

      I find it helpful when it comes to Christianity to assume that everyone is at least 95% wrong in what they think they know .. and I’m included with “everyone”.

      Unfortunately, I find many Christians, rather than being salt and light, as being the finger nail on the blackboard of life.

        Jul 01, 2013 01:47 AM

        Bentnails spring to mind Irwin!

        It was Francis of Assissi who advised his devotees to go into the world and preach the gospel…only using words if they had to!

    Jul 01, 2013 01:04 AM

    Hi Al,
    Please get rid of bird man.Trash is left on the curb.
    Thank you

      Jul 01, 2013 01:12 AM

      Pat are you kidding?

      Bird Man is one of those posters I can actually understand what he’s saying … very articulate, with proper grammar, spelling, and knows what all the buttons on the keyboard are for.

      Just because you or I may disagree with someone’s point of view is no reason to ban him, is it?

    Jul 01, 2013 01:40 AM

    I agree….but find irony in that bird man gave reference above to having a desire to burn books.

    Jul 01, 2013 01:43 PM

    Not so sure about the “Major turn in the gold market” yet. Certainly it’s a turn but the downtrend channel starting April 12th is still well intact. Gold needs to get to $1350 within a few weeks to get out of that downtrend. Two nice white candles last Friday 28th June and Monday 1st July are a start. Interesting that this upmove is during COMEX and London hours too.

    Jul 06, 2013 06:36 AM

    Still giving that fool Gary Savage air time. Shame on you!!! I see he’s calling another bottom from Friday. Watch him be wrong on Monday. Why don’t you intervire Bozo The Clown too!!!

    Sep 29, 2013 29:02 AM

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