Pundit's Perspectives – Thu 25 Jul, 2013

Gary Savage chats about the slight drop in gold yesterday and factors affecting the US dollar

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Gary SavageCory Fleck

  1. On July 25, 2013 at 2:36 pm,
    clay says:

    Think about this: In this era of money printing to sustain ever increasing debt based economic system, the Fed becomes not only the buyer of last resort but the buyer of all debt. If you don’t think it can happen, think again only this time reflect back over the last 10 years of monetary and government history. The trend of the central banks ending up having to print money to buy all debt has increased at about same rate of increasing debt. Never has it decreased.

    Should you realize the above and see it for why and what caused it, you will know where it goes. QE to infinity, a profound factual statement if ever there was one.

    • On July 25, 2013 at 4:35 pm,
      Cory says:

      Very interesting observation Clay… printing more money to buy more debt while debt is increasing.

      QE cannot be stopped. I do think however that the Fed will find a different way to label money printing to give the illusion that it is tapering. Just a thought.


  2. On July 26, 2013 at 12:01 am,
    Mark says:

    Gary Savage is a one note die hard ignoramus who was right before but is wrong now on a regular basis, and his commentaries are just plain stupid. He has bet the farm on silver and it’s going to bite him big time.Good riddance to your wealth Gary; mine was lost listening to you.

    • On July 26, 2013 at 3:38 pm,
      Janis says:

      Mark, if you hate Gary so much, why do you continue to read what he says? The economy is disintegrating and disaster looms. Gold and silver have always been money and always will be. Those dollars in your pocket are fiat currency, note money. As Voltaire noted in the late 1700s, “Paper currency always returns to its intrinsic value, zero.” This is still true today. There is no political solution to our problems. The system must fail so that the phoenix can rise. Let us hope that when it rises, the 99% keep the bankers and politicians in prison where they belong.

      • On July 26, 2013 at 3:47 pm,
        Janis says:

        Correction: Those dollars in your pocket are fiat currency, not money. I would like to add that for all you who think the US dollar is money, look at a dollar bill in your pocket. It says Federal Reserve Note. A note is evidence of debt. You sign a note when you borrow to buy a car or house or anything else. Did you ever sign a note of indebtedness to the Federal Reserve? No? Didn’t think so and neither did I.

      • On August 4, 2013 at 11:01 am,
        Burt says:

        Mark is correct Janis. ‘Gary’ (or whatever his real name is) led the sheep to slaughter, actually encouraging them to buy stock OPTIONS which is straight up gambling. A broken clock will be right twice a day. Eventually, some day, PMs may do what Gary predicts they will do. In the meantime, many of his ‘subs’ were murdered by his horrible recommendations. This is not even remotely up for debate.

        • On August 5, 2013 at 8:24 am,
          Big Al says:

          Morning again Burt,

          Again, I ask you to provide me with some specific information.


          Big Al

          • On August 7, 2013 at 2:21 am,
            Burt says:

            If you were a sub of SMT or visitor to BBT you would have heard, felt, tasted and smelled the anguish of the SMT subscribers who have been killed on SLV options. Thankfully, I was not one of them. You can become a sub of SMT or join BBT and ask around for specific dates and positions. I just watched the carnage. I wasn’t taking notes.

          • On August 7, 2013 at 8:39 am,
            Big Al says:

            Thanks Burt

  3. On July 26, 2013 at 12:08 am,
    Mark says:

    By the way, it’s factors “affecting” the US dollar, not “effecting.”

    • On July 26, 2013 at 8:43 am,
      impeach says:

      Oh, shhh, next time, we’ll simply get the ignoramus “impacted” instead!

  4. On July 26, 2013 at 5:04 am,
    James (the lesser) says:

    Don’t be so sure he has bet the farm on anything. Most of these guys just give their opinion and make their money that way. They have no real investment in what they preach. Hucksters and charlatans.

    • On July 26, 2013 at 3:48 pm,
      Janis says:

      And you know this how?

  5. On July 26, 2013 at 6:03 am,
    gary says:

    I have 50% of my net worth in 2015 LEAP’s on SLV and GDX. My money is where my mouth is.

    • On August 4, 2013 at 11:03 am,
      Burt says:

      You are gambling and bragging about it. What kind of idiotic example are you trying to set for people?

      • On August 4, 2013 at 7:51 pm,
        Big Al says:

        Burt, I am going to ask Gary for some specific numbers and projections and see where we go froom there.

  6. On July 26, 2013 at 6:20 am,
    James (the lesser) says:

    It’s very funny, but many people know how to frame a question and an answer without really saying anything. Case in point – “I have 50% of my net worth in 2015 LEAP’S on SlV and GDX”

    That’s all well and good except for one vital piece of information you left out.

    How much is your net worth?

    And don’t tell me everything is relative, because its not!

    • On July 26, 2013 at 7:22 am,
      Matthew says:

      Many advisors recommend putting no more than 2-3% of your net worth into any single investment. They never talk dollar amount. Placing 50% into just two positions is significant whatever the amount. I don’t blame anyone for keeping their net worth private, no matter how high or low it might be.
      Despite the pain for many right now, I am convinced that silver and GDX will be very dramatically higher by 2015.

      • On July 26, 2013 at 8:06 am,
        clay says:

        Mathew: Point well said. For rhetorical question only, how many people actually think of their wealth in terms other than dollars? Myself included I would say very very few. This is main reason for support of the dollar, a psychological perspective made certain and institutionalized by the Fed and its internationalists. Many will speak of the dollar in terms of Foreign exchange with other currencies, Dxy, as its value, but the exchange rate is mostly relative to its value as per pricing for goods and services and does little to impact the perspective of accumulating wealth by increasing ones total amount of dollars available to spend. This was the cause in the transformation of derivatives from a commodity hedge to a financial expansion of perceived wealth. Banks like Citi, JP Morgan and others used the wealth perception that accumulation of dollars eclipsed purpose for hedged basis and expanded their books into the tens of trillions in multiple leverage uses.

        House of Cards is the engineering used behind the existing financial systems of the world which will fail and bring down not only the individual perceptions of dollar net wealth but all basis used therein.

    • On July 26, 2013 at 10:42 am,
      gary says:

      My net worth is large enough that I can easily withstand a 50% hit. As I’ve said many times the average investor should have no more than 10% of his portfolio in LEAP’s. Someone with a $100,000 account can not take a 50% risk. They haven’t earned the right to that kind of risk.

      On the other hand if you have a 10 million dollar portfolio and lose half of it you are still rich.

      The big problem with almost all retail traders is that they view this as a get rich quick business. So they go all in when their guru makes a call. If it doesn’t work then they have lost a big part of their savings. I strongly suspect our friend Mark falls in this category.

      • On July 27, 2013 at 11:56 pm,
        Quant says:

        may be to satisfy your subscribers you could have your ” portfolio” audited ? Hope you do not show them simple spread sheets. Poor souls

        • On January 31, 2014 at 11:58 pm,
          Sophiya says:

          Cyndi Lushman We had so much fun that evening. Ocean wants to be a phtpograoher when she grows up so she can be just like you:) Thank you for capturing our moment in time.

  7. On July 26, 2013 at 7:37 am,
    James (the lesser) says:

    I am not interested in his or anyone else’s net worth. I am only pointing out the obvious that most of these guys are nothing more than race track touts. If you listen to them and you lose you have no one to blame but yourself. I am not referring to you. As far as having 50% in one position, I have 90% so I know what it is like. But if the position is very small and you are making much more money selling information than I consider that disengenous . So yes I still think the amount does matter.

  8. On July 26, 2013 at 8:37 am,
    Matthew says:

    I agree that we have no one to blame but ourselves. A newsletter’s stock picks become our own the moment we choose to take a position. Those who want to rely only on the words of some guru are asking for trouble. Those who learn about the sector(s) that they are interested in have a real advantage. How do we know what good research/due diligence looks like if we don’t even understand the basics? It’s ultimately all about assessing odds, and that requires good information mental effort.

  9. On July 26, 2013 at 9:01 am,
    Pibe says:

    Shut!! Every time Gary opens his mouth gold and silver go lower!!! Silver down 2.51% today after Gary claimed he has found the bottom (for the 50th time)!!! This guy is amazingly accurate!! (as a contrarian indicator that is).

    • On July 26, 2013 at 10:46 am,
      gary says:

      I said I think June 28th will prove to be a major bottom. That being said gold is now moving into the timing band for a daily cycle decline. Remember nothing goes straight up. Gold has rallied 175 points in 3 weeks. At some point its going to have to take a breather.

      The dollar is also due for a bounce as it’s getting late in it’s daily cycle also.

      But I think they will both be counter trend moves. For gold I think it will be a corrective move followed by more upside, and for the dollar, a dead cat bounce.

    • On July 27, 2013 at 11:53 pm,
      Quant says:

      agree, just check safehaven how often he called a major bottom in Gold


  10. On July 26, 2013 at 11:14 am,
    Sean says:

    “I said I think June 28th will prove to be a major bottom” — LOL!!

    That’s probably the 20th time bottom pick call! If I have bet contrary to your call with supposedly “50%” Net Worth, I could have retired by now in New York Penthouse.

    Go see your past records in “http://www.smartmoneytracker.blogspot.com/”

    It was just amazing, that your Gold bottom was blown one after another in 1 year stretch. Then the very next week Gary would post again something like “As I Predicted 3/6/9 months ago, this is now playing out …”.

    Wow …. aren’t you ashamed of yourself? I know your mum told you to be confident, but your records and message are proving you being a Liar + Arrogant approaching insane.

  11. On July 26, 2013 at 11:35 am,
    gary says:

    FWIW I warned everyone today that the bears are going to manufacture a bearish weekly candlestick. With the FOMC meeting next week, gold due for a daily cycle decline and the dollar due for a bounce, the odds are high that next week is going to be another tough week for the metals.

    If you don’t want to weather that exit the sector before the close today.

    • On July 27, 2013 at 11:50 pm,
      Quant says:

      Gary, isn’t it that you told repeatedly to hold onto their positions ( weak hand – strong hand). Or did I misread your articles on safe haven ?

      • On February 2, 2014 at 5:09 am,
        Zoha says:

        This indicates to me that your wsaher is not spinning at the proper speed, possibly because the load is not balanced. I had the same problem with a new Maytag wsaher. My old wsaher would shut off when the load was unbalanced, but the new wsaher just didn’t get up to speed. Try rearranging the load for the final spin.

  12. On July 26, 2013 at 3:34 pm,
    Mike says:

    “the odds are high that next week is going to be another tough week for the metals” I am following Gary as a contrarian indicator. I just bought gold and silver today and I am planning to sell it as soon as Gary becomes bullish again. Let’s see how it goes. Now MY own money is on the line!!! This should be a very safe bet!!

  13. On July 26, 2013 at 6:40 pm,
    Alexa says:

    I covered my silver shorts after reading this commentary. The precious metals should do well next week.

  14. On July 26, 2013 at 7:30 pm,
    mike says:

    Why anyone bothers listening to this babbling idiot is beyond me, other than as a contrarian play

  15. On July 26, 2013 at 8:10 pm,
    Tiho says:

    Oh man, Gary Savage at it again. Why are his subscribers so angry at him? Gary is always right, he has called every bottom and top with precision in every market. This 4 foot 10 inch man has mastered the markets by counting the number of days that an asset has ralllied or sold off. He is destroying every hedge fund in the world by counting the number of days gold or stocks have rallied.

    • On July 27, 2013 at 11:48 pm,
      Quant says:

      if he would beat consistently hedge funds, he would not need a subscription service. He is a paper trader or perhaps some of the fees he might invest

  16. On July 26, 2013 at 8:10 pm,
    Tiho says:

    And yes, I loaded up on GLD calls upon reading this article. Gary is short and gonna miss the huge move.

  17. On July 26, 2013 at 8:50 pm,
    Pibe says:

    Shut, shut shut I missed this good opportunity!!!! I am Buying NUGT first thing Monday morning!!!. YOU CANNOT GO WRONG USING GARY AS A CONTRARIAN INDICATOR!!! 2 YEARS OF SOLID EVIDENCE PROVES IT!!!

  18. On July 27, 2013 at 5:20 am,
    Tiho says:

    This is how the Gary Savage Con Works:
    Lets say that gold does rally next week – GARY will say that look GUYS I TOLD YOU THAT THE MARKET BOTTOMED IN JUNE, THIS IS A LOCKOUT RALLY – I TOLD YOU SO, I am right
    Lets say that gold sells off next week – GARY the stock market wonder will say LOOK GUYS I WARNED YOU THE DOLLAR WAS DUE TO BOUNCE AND GOLD WAS DUE FOR A MOVE TO A DAILY CYCLE LOW


  19. On July 27, 2013 at 7:50 am,
    Viewer says:

    I have to say, what you rah rah folks are doing here shows just how pathetic you are. Anyone knows that if you follow someone’s advice (AFTER PAYING FOR THEIR SERVICE VOLUNTARILY! DUH!) you have no argument for them losing you money. And the fact that you come back after each interview ranting and crying like little girls about how “Gary did this and that to me.” Man up and grow a pair, or else just get lost and go make the “correct” calls in your own blogs. If you were making money, you wouldn’t be crying about Gary week after week here.

    • On July 27, 2013 at 11:49 am,
      Tiho says:

      Gary is a f***ing con artist. We all take responsibility for our trades.

      The problem with Gary is that he will say two different things, then whatever the outcome, he will take credit that he is right. For example, for years he will calls for a stock market crash and then he will also say Bernanke is printing so you can’t short the market.

      Then when the market goes down, he claims credit for calling for the market to crash (even though it reverses as soon as Gary gets arrogant). And if the market goes up, he says see what I told you about not shorting the market.

      He is an insecure, tiny man.

  20. On July 27, 2013 at 9:45 am,
    Pibe says:

    Dear Viewer,

    I think I have explained my point and motives multiple times but here I go again: We do not come here to cry. We just come here to warn people about how fraudulent and irresponsible Gary’s service is. I am here not to cry but to warn other possible or current subscribers to NOT FOLLOW a CON MAN and to NOT make the same mistake I made. My motives are purely altruistic not just crying like a baby. I am actually helping people!
    Now getting back to important things…this seems to be a good opportunity to do the opposite as Gary advices and make some money out of it.

  21. On July 27, 2013 at 9:59 am,
    Pibe says:

    and Viewer…..think about this….why do you think so many ex-subscribers are willing to come here and complain about Gary? Are we all babies or all we mad about being scammed and lied to our faces?
    Tiho: You gave a good example of how Gary service works and one of the reasons ex-subscribers are so angry at him but you forgot to mention what he will say if gold is flat!! Hehe!!

  22. On July 27, 2013 at 1:56 pm,
    Price Maker says:

    You need to visit http://www.forexkong.com and get a load of the one guy that called this Gary clown out months ago. Wow! – Kong blasted the guy and suggested his prior options would go to zero (which they obviously did) and outright made a fool of the guy. This Forex Kong guy knows his stuff like no one else.

  23. On July 27, 2013 at 11:43 pm,
    Quant says:

    Gary needs 1700 Gold price to break even. He told his subscribers even to hold onto their positions. He talks about cycles and patterns and failed to see the rounding top of HUI chart. Despite neckline broken he kept calling bottoms. Same he said about the stock market that it would top January. Good luck to his subscribers

  24. On July 27, 2013 at 11:58 pm,
    Quant says:

    short term Gold broke out of a wedge pattern with a possible target of 1420.
    strong overhead resistance is 1350

  25. On July 28, 2013 at 9:01 am,
    Glenn Gilliam says:

    Information is only part of the story. Gary gives you information that is no different than a priest during Sunday mass. The Priest understands the big picture in life the way Gary understands the big picture with debt, history, and fundamental money. We are all big boys here so take what you want and discard what you want but do yourself a service and stop behaving like a bunch of sheep!

  26. On July 28, 2013 at 9:38 am,
    Pibe says:

    “Gary gives you information that is no different than a priest during Sunday mass.”

    Sorry Glen but I respectfully disagree with you. Gary SELLS misinformation as it were accurate. He actually charges for it and SELLS it as it were accurate and advices people to follow it. I might agree with you that some religions also take advantage of people for their own benefit and profit (same as Gary who actually SELLS THE MISINFORMATION AND HIS SOLE PURPOSE IS TO MAKE A PROFIT FOR HIMSELF).

    “Gary understands the big picture with debt, history, and fundamental money”:

    No he doesn’t. Unfortunately his “understanding” of the big economic picture is very, very, very limited since he does not include the big macroeconomic picture (i.e. international events and what’s going on in other countries and how those events affect our economy). He just uses a so called “Cycles System” that has been consistently wrong during the past two years.

    “do yourself a service and stop behaving like a bunch of sheep!”:

    I am sorry that our comments as ex-subscribers are bothering you. But again I am actually doing a PUBLIC SERVICE by warning people not to follow Gary and look elsewhere for serious and informed financial advice.
    Tiho (one of the sheeps) has a free newsletter that is unbiased and provides good economic information (taking into account the big picture and several macro and micro indicators). Armstrong Economics also has a free website that takes a look at the big picture and some serious technical analysis. I can also provide other FREE serious unbiased references up on request.

    Thank you!

    Marcelo (Pibe)

  27. On July 28, 2013 at 12:44 pm,
    mike says:

    One day this guy will be forced to answer to a lot of people…and no amount of roid rage will help him

  28. On July 28, 2013 at 3:35 pm,
    Glenn says:

    Gary makes a living on reading the technicals does he not? Just the same as religious endeavors in my opinion. The problem is that most people take the information and swear it gospel. I for one take information from several sources, not just with Gary. You look at history, government, society, and a whole bunch of other observer stimuli and then make the decision that suits your taste and comfort level. Today like in the past people have the tendency to defer to others and when things go wrong, they blame the others the way you and the other commenters are doing on this forum. I am just saying to take the information in along with information elsewhere and decide accordanly. If things go wrong then you take it like a man and blame yourself!

  29. On July 29, 2013 at 8:54 am,
    Sean says:

    “The problem is that most people take the information and swear it gospel. I for one take information from several sources, not just with Gary. You look at history, go”

    Glenn, are you Gary in disguised? The problem with Gary as many pointed out and proved, is that Gary is saying 2 completely contrary things at the same time!! That’s how Gary can beat 90% of Hedge Funds and be “consistently” right.

    Again, trick is making 2 completely contradicting predictions — one would always be right, and then 1 month later Gary claimed “I Told you so” by referring to only part of the original article.

    this is called DISHONEST, or should say SCAM!!

    • On July 29, 2013 at 1:03 pm,
      Big Al says:


      This is very important to me and the reputation of our show.

      Please give me two concrete examples.

      Much appreciated.

  30. On July 29, 2013 at 10:26 am,
    Pibe says:

    No Sean; “Viewer” seems to be Gary in disguise. This guy Glenn is just blindly following Gary and making parallels between Gary, religion and Gospel. Go figure.

  31. On July 29, 2013 at 10:54 am,
    Viewer says:

    Lol, Pibe. Actually I’m a young guy in his 20’s. It’s funny someone proably younger than yourself is telling you how much of a whiny turd you are. And as for you doing a public service, those are only good when people actually WANT them. No one cares if you think Gary sucks.

    If you think GARY is a con artist learn how the marketing industry goes about things for just about every single business in the world. Misdirection and all sorts of tricks are played by every company selling something. You want a con? Look How about the pharma companies forging fake science to get their patented drugs legalized, only to rake in billions while people suffer the results of unsafe drugs.

    It’s up to the CUSTOMER to discern the good from the bad. Smart people know pharma drugs are all trash and ignore them. Same with Gary; if he turns out to be a con, he’ll lose his market share and have to find something new. Now whether you think Gary is good or bad, it’s quite obvious that you made a decision you regret, and you’re looking for someone to blame. Sorry, but I don’t have a bias because I’m not following Gary’s trades and haven’t lost money because of him. I simply want to hear his commentary from time to time to see what multiple analyst’s think about the markets(same as Glenn.) Hearing you cry is just an unintended consequence of visiting this site. In summary, you need a life, or at least another hobby. I’m done.

    • On July 29, 2013 at 1:25 pm,
      Big Al says:

      I am not quite as harsh as you are viewer.

      I simply believe in getting all the input that I can; weigh this information; and, then make my own decision.

      Not much more complicated than that!

  32. On July 29, 2013 at 11:03 am,
    Pibe says:

    Well apparently I was wrong. I am not ashamed to admit it. It is good to have a diverse population here! Religious views. Angry teenagers. Crying babies and little crying girls. Anyway Gold is flat and not much had happened today. Let’s see how the NUGT buy plays out.

    • On July 29, 2013 at 1:27 pm,
      Big Al says:

      Pretty diverse audience Pibe.

      I have to say; however, that for the most part the members are both highly intelligent and articulate.

  33. On July 29, 2013 at 11:51 am,
    Mark says:

    Actually Gary’s commentaries are worthless. As an analyst he is no better than anyone here by the mere fact that flipping a coin to see which way the markets will go would give you better odds.

  34. On July 29, 2013 at 12:20 pm,
    Pibe says:

    No more “manipulation” excuses.

    JPMorgan Mulls Physical Commodities Exit Amid U.S. Review


  35. On August 2, 2013 at 9:34 am,
    F.Ant says:

    I’ve been reading Mr. Savage’s blog for the better part of the last two years. Everything there is low-end: low-end fee, low-end analysis, low-end subscriber base (actually the term “dysmal” describes it best, but I don’t want to get anyone offended).
    Gary represents your typical gold bug: they are no experts by any mean, they are utterly ignorant and powerless when it comes to avoiding the brutal bear markets that periodically hit the precious metal sector; they listen only to themselves and will always play victim and blame others for their mistakes… Peter Brandt is 100% right in his total despise of the gold and silver bugs ilk. I could tell you a LOT of anecdotes to help you undestand how bad this guy really is, on a professional and personal basis, but I don’t have the time nor the stomach for it…Let’s just say that you can’t do worse than hosting a guy like G. Savage if you treasure your image on the internet… So many have gotten burnt because of him, you’ll instantly be hated by thousands…

    • On February 4, 2014 at 1:06 am,
      Gurwinder says:

      Always the best content from these prudogiios writers.

  36. On August 6, 2013 at 9:03 pm,
    Don M says:

    I have been checking Mr Savage’s predictions for about 18 months and I have to say that he is a very good contrarian indicator. It is uncanny how this man can be so wrong, so often. His subscribers must have rocks in their heads to listen to him unless. of course, they value his useless opinions in the same way I do.

    • On August 7, 2013 at 8:34 am,
      Big Al says:

      Thanks Don.

      Please provide some hard numbers.