Gary Savage – Tue 15 Oct, 2013

Gary does not think the bottom is in. How about you?

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Cory FleckGary SavageAl Korelin

  1. On October 15, 2013 at 2:14 pm,
    Jerry(Gator)M says:

    This is off topic but interesting given our current situation with this administration.

    • On October 15, 2013 at 4:52 pm,
      Big Al says:

      Thanks for the link Gator.

  2. On October 15, 2013 at 2:20 pm,
    ddswaterloo says:

    Here’s the way I feel: the bottom is never in, period.

    • On October 15, 2013 at 4:53 pm,
      Big Al says:

      Really? Even temporarily?

      I would guess that ultimately everything goes to zero. Consider the end.

  3. On October 15, 2013 at 2:21 pm,
    franky says:

    BUY SISSYS YO RONG BUY 88888888 !

    • On October 15, 2013 at 2:26 pm,
      franky says:

      gold is money yo no milk money you get money !

      • On October 15, 2013 at 4:23 pm,
        franky says:

        love cary and BUY GOLD IDIOTS BUY 88888888

    • On October 15, 2013 at 4:29 pm,
      franky says:

      We live in a epice time frame !

      • On October 15, 2013 at 4:55 pm,
        Big Al says:

        epicenter or epic Franky?

        • On October 15, 2013 at 5:03 pm,
          franky says:

          fukushima AL i no laik AL

        • On October 15, 2013 at 5:08 pm,
          franky says:

          epec cancer and al fukushima AL ! i sorry crazy !

  4. On October 15, 2013 at 2:27 pm,
    bb says:

    I sure like Garys thinking.
    Right reason to won gold?
    Whats the right reason to be in possesion of money?
    Course in the west we get to be laughed at. oh well.
    Gary is in Greece, Gary? can you buy a cup of coffee with gold or silver in Greece?

  5. On October 15, 2013 at 2:30 pm,
    bb says:

    Just thinking about it, might be interesting to know which people in what countries would accept gold or silver for a cup of coffee.
    I have never heard someone like Casey or Fulp or anyone that travels say actually.

    • On October 15, 2013 at 4:56 pm,
      Big Al says:

      Interesting question bb!

      My guess is that it depends on the individual.

  6. On October 15, 2013 at 2:50 pm,
    Silverbug Dave says:

    Gold is below horizontal support from the mid-rally low in early August. It has already been trending down, stepping down week after week, with nothing but the aborted pop up to hard resistance on the day of the FOMC non-taper announcement.
    US dollar looks to be stable. Nikkei has been going up and breakoing out and that means weak yen, strong dollar and weak gold. The whole gold bear market really got started late last year when the Nikkei took off on Abenomics in Japan, yet no-one seems ever to mention that. More cash flows into US stocks too on a big 3 day pop up, though it might be close to resistance.
    The debt ceiling might change everything but right now, gold and silver are in danger of breaking down their bearish head and shoulders patterns and going to $1117 and $15.59.
    They need to hold support until something changes to get them going to the upside or we can look forward to more grief I feel.
    I think if silver goes to $15.59 then gold could be going lower than $1117, perhaps to $1030 as Gary suggested.
    There is no telling. The trend is your friend as they say and the trend is down and has been all year, no respite. It’s a bear market. There is not going to be a magical price reversal to save the butts of the undercapitalised mining companies.
    Lots of the major producers are just treading water near their lows right now.
    We have all the charactersitcs of a bear market with goldbugs still in denial or turning to hope against hope, praying for rain if you like.

    • On October 15, 2013 at 4:59 pm,
      Big Al says:

      I have said more than once that I am on the sidelines. And, I am not praying for rain. I am praying very diligently for a return to sanity and that means a lot more than just higher gold/silver prices!

    • On October 15, 2013 at 10:06 pm,
      mna says:

      Silverbug Dave’s comments about the yen deserve some examination. Many people think excessive yen printing is part of world-wide printing and eventually world-wide devaluation will see an increase in gold. Silverbug suggests something interesting: yen printing in excess of dollar printing causes the dollar to rise and hence gold to fall (in $US at least). Not too many commentators note that the start of accelerated Yen printing more or less coincided with the start of gold’s bear. Thanks, Silverbug – you made me think.

      • On October 16, 2013 at 7:30 am,
        Big Al says:

        Me too, Silverbug. Thank you.

  7. On October 15, 2013 at 3:37 pm,
    cfs says:

    I don’t know which market is being referred to.

    If you are talking about the general market, then with the incredible brinkmanship of the President, the bottom is not in.

    The Devil Incarnate has now said in his way, either give me the power of the purse or the country will default.

    This is both unconstitutional and terribly destructive non-negotiations.
    The press is unbelievably totally un-questioning of this action.

    I am utterly amazed.

    Is the population asleep, and totally oblivious to what is happening?

    Folks on this site are going to be very glad to own gold, and even more pleased if they are not living in the USA. But make no mistake; a US economical collapse will bring down the western world economy.

    We live in times that are too interesting for me.

    • On October 15, 2013 at 4:59 pm,
      Big Al says:

      I am also “utterly amazed” CFS!

  8. On October 15, 2013 at 3:52 pm,
    Dick Tracy says:

    If Gold is under pressure in such bad economic times we are really seeing only one thing happening and that is DEFLATION. DT

    • On October 15, 2013 at 3:55 pm,
      Dick Tracy says:

      I know that in my mind they have tried to prove they can beat deflation, they have lost and there never was a doubt in my mind but most here can’t understand this. DT

  9. On October 15, 2013 at 4:00 pm,
    Dick Tracy says:

    Big Al is standing on the sidelines because he hasn’t figured out what is really happening, inflation or deflation, for me this is not a consideration. DT

    • On October 15, 2013 at 4:01 pm,
      Dick Tracy says:

      Gary Savage can’t figure it out either. DT

      • On October 15, 2013 at 5:01 pm,
        Big Al says:

        And, I think that he admits that to an extent!

    • On October 15, 2013 at 5:00 pm,
      Big Al says:

      You’re probably a lot smarter than I am, Machine Gun!

  10. On October 15, 2013 at 4:03 pm,
    cfs says:

    DT, I tend to agree with you.

    Certainly in the Great Depression after 1929, gold did indeed fall at first, before taking off, even though the official rate was fixed then re-fixed.

    I think half the world is looking on, transfixed, as one man is deliberately destroying single-handedly the once-greatest country in the world.
    And the media is focused on park closings, as if that really mattered; totally oblivious of the big picture.

    • On October 15, 2013 at 5:01 pm,
      Big Al says:

      Park closings; removal of water fountain handles; and, other inconsequential b.s.!

    • On October 15, 2013 at 6:16 pm,
      Dick Tracy says:

      The Federal Reserve bank should not allow a member bank to borrow money for the purpose of making speculative loans or for the purpose of maintaining speculative loans. Risk should not be allowed at the behest of putting banking institutions at risk. But they have done this in spades. DT

  11. On October 15, 2013 at 6:41 pm,
    Dick Tracy says:

    We all want our banks to be strong and make legitimate profits because that is how a society improves it’s standard of living from generation to generation but when banks become corrupt, need I say more. DT

    • On October 15, 2013 at 6:50 pm,
      Big Al says:

      No, Machine Gun, you don’t have to say anymore.