KER Commentary – Fri 4 Oct, 2013

Week ending thoughts from Rick and Gary

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We are heading down to the Casey Conference in Tucson so we are in transit most of the day.

If you happen to be in the Tucson area, please drop by and say hello.

Will be back with a boatload of radio with world class guests.


Featuring:
Al KorelinRick AckermanGary Savage

Comments:
  1. On October 4, 2013 at 9:36 am,
    Dick Tracy says:

    Rick Rule say’s that he is into Cash, Cash, and more Cash, I think he fears a stock market meltdown, however Eric Sprott is buying precious metal producers that aren’t profitable at $1400 gold, hmmmmmm, differing views; I guess it depends on how much money you can gamble with.

    I tend to agree with RR, I just like his reasoning but like he points out Eric is the billionaire.

    If the US market goes down we can expect everything on all exchanges to tank as well, decisions, decisions. DT

    • On October 4, 2013 at 10:06 am,
      Big Al says:

      I will be talking with Rick this weekend.

      • On October 4, 2013 at 10:20 am,
        Dick Tracy says:

        That should be quite interesting! I hope you mean that you will be interviewing him and picking his brain, he’s a oner like Bob M. DT

        • On October 4, 2013 at 10:27 am,
          Big Al says:

          Plan to Machine Gun.

    • On October 4, 2013 at 11:54 am,
      SD Marc says:

      HEY DT, BIg Al and ALL:
      “They” (msm) interviewed a TOP US Treasury official yesterday: (If Gold is a relic with no place in the current financial global infrastructure) WHY DONT WE START SELLING IT (if we even have any left) and STARTPAYING OFF CREDITORS NOW. OH NO! He replied. We will never sell our GOLD, that would destabilize the global financial markets…etc, etc. etc.,- C” MON guys…..PUT TWO AND TWO TOGETHER! And no it doesnt equal ZERO.
      ARE YOU STORING GOLD AND SILVER FOR FUTURE USE AND PROTECTION OF PURCHASING POWER ?- GET IT, GOT IT……..GOOD!….:)

      • On October 4, 2013 at 12:45 pm,
        Jody D says:

        Marc,
        It is so good to have you back!!!! 🙂
        Jody D

      • On October 4, 2013 at 2:18 pm,
        Big Al says:

        Got a link Marc?

        • On October 4, 2013 at 3:19 pm,
          bb says:

          I dont have a link Al but the story was on the first page @ the Max Keiser site today.

          • On October 4, 2013 at 4:59 pm,
            Big Al says:

            Thanks

  2. On October 4, 2013 at 9:42 am,
    franky says:

    no worry fukushima will tace care all off us !

    • On October 4, 2013 at 9:52 am,
      Dick Tracy says:

      One thing they don’t discuss in regards to nuclear power, there are 440 plants in operation how vulnerable are they?

      I think The US should choose a system of natural gas co-generation facilities given their huge reserves. DT

      • On October 4, 2013 at 9:57 am,
        franky says:

        yes some very sone i hope !

      • On February 3, 2014 at 3:03 am,
        Stephen says:

        You really saved my skin with this inomroatifn. Thanks!

      • On February 3, 2014 at 4:54 pm,
        Marissa says:

        Sma-dckab what I was looking for-ty!

  3. On October 4, 2013 at 9:44 am,
    Dick Tracy says:

    The stock market crash of 2008 blindsided more people however; I really believe this next Cliff Dropoff will be much nastier and permanent meaning our economy won’t recover for at least a decade.

    • On October 4, 2013 at 10:08 am,
      Big Al says:

      I can definitely see that happening, Machine Gun!

      Today anything is possible.

  4. On October 4, 2013 at 10:28 am,
    cfs says:

    Don’t forget the PPT. There are no un-manipulated markets anymore.

  5. On October 4, 2013 at 10:48 am,
    SILVER MAN says:

    AL, I’AM A LONG TERM INVESTER LIKE YOU ARE. I GUESS WE JUST HAVE TO SIT BACK AND RIDE THIS THING OUT. I LOOK AT MY PORTFOLIO LESS EVERY WEEK. WE’LL THERE IS LESS TO LOOK AT!!

    • On October 4, 2013 at 11:34 am,
      franky says:

      silver man COOL COOL no over yet luk dis youtube ( BOB CHAPMAN how it will all end deb jubilee or ww 3 a long way to go !

      • On October 4, 2013 at 11:41 am,
        franky says:

        day live diss all live !

      • On October 4, 2013 at 2:15 pm,
        Big Al says:

        Thanks Franky,

        I knew Bob before he passed away.

    • On October 4, 2013 at 2:13 pm,
      Big Al says:

      Yes and constantly checking will drive you crazy!

  6. On October 4, 2013 at 11:45 am,
    cfs says:

    Don’t forget the possibility of Civil War.
    With the Arrogant Dictator about to shred the Constitution and unilaterally raise the debt ceiling, without the vote of the House of Representatives, from which body ALL spending authorization constitutionally begins, Civil War is looking more probable.
    The Devil Incarnate has no intention of cutting spending. He is determined to destroy this great country and its constitution.

    • On October 4, 2013 at 2:08 pm,
      Joel says:

      Bang on CFS:
      “The documents show that Joseph Smith did prophesy a number of times that the United States and the Constitution would be imperiled and that the elders would have a hand in saving them. The first known record of the prophecy dates to July 19, 1840, in Nauvoo, when the prophet spoke about the redemption of Zion. Using Doctrine & Covenants 101 as a text, he said, “Even this nation will be on the verge of crumbling to pieces and tumbling to the ground and when the Constitution is on the brink of ruin this people will be the staff upon which the nation shall lean and they shall bear the Constitution away from the very verge of destruction.” (Joseph Smith Papers, LDS Church Historical Archives, Box 1, March 10, 1844.)”
      +
      Orson Hyde recalled that the Prophet predicted that “the time would come that the Constitution and the country would be in danger of an overthrow and said he, if the constitution be saved at all, it will be by the Elders of this Church. I believe this is about the language as nearly as I can recollect it.” (JD, 6:150.)

      • On October 4, 2013 at 2:28 pm,
        Big Al says:

        Don’t you think that folks other than Mormons ewill be involved?

        • On October 7, 2013 at 10:59 am,
          Joel says:

          Hi Al, sorry i dont check comments very often so im a late responder if i ever do respond and catch a comment. Hopefully this still reaches you Al, but yes I do believe more than just Mormons will be involved, however “this people will be the staff upon which the nation shall lean” I interpret that as church elders taking what would probably be a “lead” role in perhaps rallying the people to defend the consitution or something similar to it. Mormons believe the constitution was inspired of God.
          http://www.lds.org/ensign/1992/02/the-divinely-inspired-constitution?lang=eng

          “modern revelation says that God established the U.S. Constitution and that it “should be maintained for the rights and protection of all flesh, according to just and holy principles.” (D&C 101:77.)”

          “That every man may act … according to the moral agency which I have given unto him, that every man may be accountable for his own sins in the day of judgment.

          “Therefore, it is not right that any man should be in bondage one to another.

          “And for this purpose have I established the Constitution of this land.” (D&C 101:78–80.)

          – The whole talk is good, worth a read 🙂

          • On October 7, 2013 at 2:07 pm,
            Big Al says:

            Thanks Joel!

    • On October 4, 2013 at 2:17 pm,
      Big Al says:

      Coming from you that is a pretty strong statement Professor.

      Unfortunately I have to agree. I truly hope we are both wrong.

  7. On October 4, 2013 at 12:00 pm,
    bb says:

    I just cant see a revelution, that would take the armed forces. If the generals intended to defend the constitution as they swore to, they would have done it by now.

    Civilians attempting anything will just end up in the fema camps.
    Remember, only 1-2% own gold, thats 98% dont have a clue.

    The majority still believe guys with boxcutters actually did penetrate the most protected airspace on the planet AND they think Bin Laden was thrown off a ship.

    The “dumb down” the public plan could not have worked better. Not enough actualy see whats happening even if there was an attempt.

    The police are already “bullies” etc so I just cant see revelution happening.
    Mybe Im wrong but thats my opinion.

    • On October 4, 2013 at 2:21 pm,
      Big Al says:

      Yep there are some who act unappropriately, but don’t forget the really good ones!

  8. On October 4, 2013 at 12:00 pm,
    cfs says:

    Lew, the Treasury Secretary will be on all the Sunday morning talk shows, advocating immediate raising of the debt ceiling and condemning the horrible Republicans for holding the country hostage. Mark my words.

    • On October 4, 2013 at 2:22 pm,
      Big Al says:

      Of course, CFS

      • On February 1, 2014 at 10:41 am,
        Sergei says:

        You’ve got it in one. Co’dnlut have put it better.

    • On February 2, 2014 at 7:52 pm,
      Lupiitaa says:

      The answer of an extrpe. Good to hear from you.

    • On February 3, 2014 at 4:26 pm,
      Halime says:

      Well I guess I don’t have to spend the weekend fiiugrng this one out!

  9. On October 4, 2013 at 12:17 pm,
    cfs says:

    Isn’t it interesting that the President ordered the WWII memorial closed, costing more to enforce the closing than to keep open, while he also keeps Camp David open.
    One rule for the Dictator; another for the peons.

    • On October 4, 2013 at 1:05 pm,
      franky says:

      yes mmm tank u !

    • On October 4, 2013 at 2:23 pm,
      Big Al says:

      That is what happens when somebody is trying to prove a point!

      • On February 2, 2014 at 6:59 pm,
        Kenichirou says:

        The hotsney of your posting is there for all to see

  10. On October 4, 2013 at 12:26 pm,
    Andrew de Berry (Rev) says:

    Lew is only echoing what Obama is already saying about the Republicans holding the nation to ransom over the Govt shutdown. Nothing but nothing will get in the way of your President pushing through Obamacare, come hell or high water.

  11. On October 4, 2013 at 1:30 pm,
    franky says:

    no fegits run in wasghinton dc today !

  12. On October 4, 2013 at 3:44 pm,
    Silverbug Dave says:

    Both guys bearish here. Nothin bullish to see in gold.
    Sometimes, it looks worst just before a positive move but that’s in a bull market. This doesn’t look like a bull market anymore. It’s going to be a good long wait for bullish action in gold and silver. We have the bugs calling for $3000 gold and $150 silver and the usual stuff while gold can hardly hold $1300 and silver struggles to get over $21.
    Gold is just at present locked into a downtrend vhannel just parallel to the early 2013 crash downtrend channel., The sellers have taken over again for several weeks. No crash (yet). The slope is the same as the slope defined by the $321 15th April low and the $1180 28 June low. Price drop rate = $140 every 11 weeks, about $13 per week. The price action is descending but holding above that original downtrend channel. If it goes back into it, could it reach the bottom of that channel again,. It is 14 weeks since the 28 June low, so the bottom of that channel would be a drop of 14x$13 = $182 below $1180 or $998, call it $1000. In 4 more weeks, the channel floor would be another $52 lower at $946.
    Howeverm right now, the price action is parallel to but above the downtrend channel defined by the high of $1590 before 12 April crash and the two lows at $1321 and $1180. That channel defines dozens of price turns over the last 9-12 months.

    • On October 4, 2013 at 3:45 pm,
      Silverbug Dave says:

      “I meant the $1321 15th April low” of course! I’m not that bearish!

      • On October 4, 2013 at 5:02 pm,
        Big Al says:

        I don’t look like a complete fool yet. Maybe close but not yet!

    • On October 4, 2013 at 5:01 pm,
      Big Al says:

      Thanks Silverbug

      So glad I am not smart enough to be a technician

      • On February 3, 2014 at 6:51 am,
        Micheal says:

        Arlteics like this make life so much simpler.

    • On October 4, 2013 at 9:16 pm,
      Dai Uy says:

      Patience…Steady on the helm…………

  13. On October 4, 2013 at 5:19 pm,
    Glen says:

    As far as Rick Rule goes. I have heard second hand that he is a jerk and has an ego up in the sky and that he doesn’t give a flying poop about anyone except self. And, if he really has a strategy that he certainly would share it with us little guys. That being said he is in cash. He advocated phyzz but he is primarily a speculator and he is rich by being so. If Rule is in cash right now its cause gold is going no where for the time being. He says that Sprott believes that gold will go up significantly in the next year. That means nothing to me. Luckily I don’t have to make any decisions cause I am all in in phyzz and I am down so much that I have nothing to lose by just standing patt with what little is still left. Do what you want. I have to grin and bear it and just try and stay sane for the next several years. Period. If metals do begin to trend higher it will be a miracle as far as I am concerned.

    • On October 4, 2013 at 6:57 pm,
      Matthew says:

      Glenn, when Rick says he’s in cash, he means gold. He has made this clear on several occasions. I agree with him that gold is the ultimate cash.
      Would you believe that gold has doubled versus the XAU (senior miners) in the last two years? This is why some people are selling bullion now, and buying miners.

    • On October 6, 2013 at 8:37 am,
      Big Al says:

      Glen,

      I completely disagree with you about Rick.

      I don’t know who told you that, but I can tell you that my exprtience has been completely different.

      • On October 6, 2013 at 3:22 pm,
        Matthew says:

        Al, thanks for confirming my positive perception of Rick.
        Maybe some are threatened by his confidence and smarts.