Gary Savage – Wed 23 Oct, 2013

Gary Savage with some specifics regarding $1000 gold.

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Featuring:
Al KorelinGary Savage

Comments:
  1. On October 23, 2013 at 9:43 am,
    gary says:

    Neither myself or Al are registered investment advisors.

  2. On October 23, 2013 at 9:46 am,
    gary says:

    Of course that piece of paper doesn’t mean one has a crystal ball anymore than anyone else. Just that you can sell investments to clients.

    Goldman had plenty of registered investment advisers that sold their clients investments in real estate bonds while they were actually shorting those same investments.

    • On October 24, 2013 at 7:55 pm,
      Shad says:

      Agreed Glen. Good post Al & Gary. I value getting different vantage points and this is a possible solution, I agree they won’t try to push gold down at dollar low, but dollar could start rising in Nov/Dec if Europe comes back in focus. A rising dollar would pressure gold and then they would start the manipulation down to $1000. It is a possibility, but at this point there is no real direction in Gold and it will grind sideways until some catalyst breaks the channel. A rising Dollar and failing Europe could be just that.

  3. On October 23, 2013 at 9:50 am,
    franky says:

    I BUY PVG TODAY 3.40 CAD ! BOBBY AL IRWIN EN ANDREW I TANK U for your investment INFO I TRUST Robert quartermain !

    • On October 23, 2013 at 9:54 am,
      franky says:

      1000 $ GOLD NEVER ! ONLY CASS NOW YOUR CRAZY INSANE FLIP FLOP !

      • On October 23, 2013 at 12:10 pm,
        Big Al says:

        I don’t see a real flip flop here. I think that Gary is just giving alternatives.

    • On October 23, 2013 at 9:59 am,
      Irwin says:

      You might be right Franky … good luck!

      http://canadianmoneyforum.com/showthread.php/15935-Pretium-Resources-(PVG)?p=203356&viewfull=1#post203356

      • On October 23, 2013 at 10:01 am,
        Irwin says:

        quoting post #8 from above link:

        “This is not Bre-X like.
        “This is a disagreement between two consulting companies on how to measure the resource.
        “One consultant wants to run the entire 10,000 tonne bulk sample the other wanted to just run a small sample of that 10,000 tonnes.
        “Strathcona should have stuck with it until the entire 10,000 tonne sample was completed – then compared the results of both sampling methods.
        “The fact that Strathcona did not complete what they were hired to do sends up a red flag to me.

        “Its appears to be a pissing match between consultants and the investor is the one being hurt.

        “It will be interesting to see the result. “

        • On October 23, 2013 at 12:11 pm,
          Big Al says:

          Yes it will be interesting Irwin.

          I have a lot of friends with positions in this company. I, by the way, do not.

    • On October 23, 2013 at 12:09 pm,
      Big Al says:

      A lot of people do Franky

    • On October 23, 2013 at 2:23 pm,
      Bobby says:

      Franky, I own way too much of it as well as 2 other bobby chapman’s personal recos….all 4 are dead.

      • On October 23, 2013 at 9:13 pm,
        franky says:

        i hope Agnico eagle and GG to aders i now no nice ! all market BOBBY i cool is the way !

        • On October 24, 2013 at 8:26 am,
          Big Al says:

          Sorry Franky,

          I don’t understand.

    • On October 23, 2013 at 4:14 pm,
      Dick Tracy says:

      Al, why would you not comment on what franky is saying, this is possibly a set-up. DT

      • On October 23, 2013 at 4:35 pm,
        Dick Tracy says:

        I don’t want to say too much more but I don’t think you are being street smart in regards to one poster. DT

        • On October 24, 2013 at 6:44 am,
          Bobby says:

          Not sure what you mean by setup, DT. It is obvious Franky is a jokester, making fun of the posters, IMO.

  4. On October 23, 2013 at 10:06 am,
    SD Marc says:

    Gary,
    That was clear and concise. I have no problem with that theory. In fact, it is as plausible as anything I have heard lately. Who knows? You could be spot on…if you are not, you really havent lost much. But, I will say that this particular interview had a lot more clarity to it than any of your trading cycle input. But, then again, I am not a trader. And, never have been. I am a long term perspective guy..always will be. Good luck. Finally, people need to “man-up’ and take responsibility for their own investment decisions. As an example, I got caught with my “pants down” on a momentum play with AGQ (double silver derivative). It has been a long two years. I will wait until my loss is acceptable then cash out and move into the silver juniors. There – I made a mistake – BUT I wont panic and I wont throw stones at anyone else because of my foolishness.

    • On October 23, 2013 at 11:56 am,
      Ann says:

      Very clear and specific.Thanks for the time,Gary.

    • On October 23, 2013 at 12:11 pm,
      Big Al says:

      Thanks Marc

  5. On October 23, 2013 at 10:49 am,
    bj says:

    I don’t know if it will play out as Gary suggests, but the logic flows within his theme–and anymore market manipulations is a ‘market fundamental’ in my book–and yours too, Big Al. I’ve been on the sidelines since last Spring for reasons obvious to all who participate in the PM markets.

    The only question in my mind is how much longer the fraud (a nefarious fundamental) can continue given the global nature of the PM markets. In the end the price of Au & Ag will be reconciled to the upside possible with a PM backed global currency–and we start all over again….
    .

    • On October 23, 2013 at 11:00 am,
      SD Marc says:

      BJ,
      That is exactly what is going to happen….

      • On October 23, 2013 at 12:56 pm,
        Bird Man says:

        Just the fact that a trillion dollar platinum coin was an indea being bandied about to collateralize some of the debt is enough to convince me that confiscation is inevitable. Nothing is safe really. Not bank accounts, not pensions, not income protected from new taxation and certainly not gold or silver. It strikes me as very obvious that the path of least resistance will be to go after those assets (if necessary) that have the smallest following amongst the public and thus the fewest political advocates and supporters…….does Ron Paul like gold? Well guess what will get seized if trouble erupts then.

        • On October 23, 2013 at 7:11 pm,
          bj says:

          Actually, they can take whatever they want already. The R’s created the police state, ala Homeland ‘Security’, and the Ds perfected it.

          The government is archiving every electronic transmission communications and commerce (and on the side Face book is leading the sheep to the alter with people tagging their friendss faces. To that, the IRS is working in tandem with the NSA tracking how you spned you money and how you make it. Now comes Obamacare tying it all together–your medical records tied to the tax records, tied to your banking records (the Fed) which are all working in tanddem with the NSA. The totalitarians doesn’t care whether you call it communism, fascism or crony capitalism. Name it what we will, all they care is that they can harvest whatever they want whenever they want from whoever they want. Indeed Santa Clause has come to town and he knows whose been naughty and whose been nice.

        • On October 23, 2013 at 8:29 pm,
          Big Al says:

          Stay safe in Africa. And Bird I am serious!

          • On October 23, 2013 at 10:51 pm,
            Bird Man says:

            Al, it is far less dangerous here than it is back in Vancouver.

          • On October 24, 2013 at 8:29 am,
            Big Al says:

            I really don’t find that hard to believe.

            Let’s talk about walking down East Hastings at night!

          • On October 24, 2013 at 1:45 am,
            Bird Man says:

            Wait just a second there Al…..I talk about the potential for gold confiscation and Ron Paul (who strongly advocates gold but has no serious support amongst the political elite who will be doing the confisscating) and you respond by warning me to stay safe in Africa? If that is some kind of threat then please spell it out.

          • On October 24, 2013 at 8:55 am,
            Big Al says:

            I wasn’t referring to confiscation. That was just a simple comment regarding where you are living. No opinions at all from me.

          • On October 24, 2013 at 9:09 am,
            Bird Man says:

            Must have misunderstood you.

  6. On October 23, 2013 at 10:51 am,
    MNH says:

    Hopin’ and a Prayin’ —I can buy Gold at $1000!

  7. On October 23, 2013 at 11:04 am,
    james (the greater) says:

    GS – You are not a registered investment advisor, therefore you should not be giving your investment advice, which is really nothing more than your opinion, and a very faulty one at that.
    Furthermore a certificate stating you are a registered investment advsisor does not mean you have a crystal ball, that is true. But it does mean you have been trained and passed a set of standards that are required to be one.
    When I went to college to study computer science and mathematics I needed to take and pass a certina number of core requirements. That is how I earned my degree. There needs to be and is a standard.
    The fact that you are not a registered investment advisor tells me you do not possess the fundemental knowledge and practical eduction to uphold that standard.
    You are nothing more than a novice with an opinion trying to make a name (and profit) for yourself.
    I say this in the spirit of truth and am not being vindictive.

    • On October 23, 2013 at 11:38 am,
      Matthew says:

      James, most newsletter writers are not certified advisors. Those who have confidence in such a certificate are “certifiable” themselves, if you know what I mean. There are good and not so good guys, both with and without a certificate.
      All the top schools turn out Keynesian economists, should we trust them, too?

    • On October 23, 2013 at 12:21 pm,
      Big Al says:

      Interestingly enough, The Greater, virtually none of the letter writers or major speakers at the various conferences around the world are registered investment advisers.

      Strange but true!

  8. On October 23, 2013 at 11:31 am,
    Glen says:

    I think Gary’s opinion is valuable. I don’t care if he is an investment advisor or not. However, he is just making an educated guess about 1000 dollar gold. I totally respect his opinion. I don’t see gold going down to 1000 bucks though or if it does it won’t be Fed driven. It will be hedge fund and bullion bank driven because the Feds only concern is mostly keeping a firm cap on 1300 dollar gold. The Feds will not assist the bullion banks in pushing down gold that low as it is not in their best interest. I look forward to the same miserable sideways trading for gold. Maybe bouncing of 1250 occasionally but returning to the 1300 dollar level. Once we get a black swan event we can get out of this funk. I have no idea when this will happen.

    • On October 24, 2013 at 7:54 pm,
      Shad says:

      Agreed Glen. Good post Al & Gary. I value getting different vantage points and this is a possible solution, I agree they won’t try to push gold down at dollar low, but dollar could start rising in Nov/Dec if Europe comes back in focus. A rising dollar would pressure gold and then they would start the manipulation down to $1000. It is a possibility, but at this point there is no real direction in Gold and it will grind sideways until some catalyst breaks the channel. A rising Dollar and failing Europe could be just that.

  9. On October 23, 2013 at 11:35 am,
    PF says:

    Nobody is expecting any QE tapering to happen at the FOMC meeting next week, so why would the dollar bottom at that time? Seems like that is already priced into the market and that the FOMC meeting is a non-event.

    • On October 23, 2013 at 7:45 pm,
      gary says:

      The dollar will bottom because the intermediate cycle is due to bottom and because sentiment is too bearish. The latest public opinion poll is at 25%. That kind of depressed level has only happened a few times in the last 10 years.

      At that level the market is in jeopardy of running out of sellers.

  10. On October 23, 2013 at 11:36 am,
    Clark says:

    I happen to enjoy listening to GS although I don’t agree with some of his logic. The bottom line is this site allows everyone to pick and choose what they want to listen to and read. Personally, I only listen (or read) about one-half of what’s offered, especially since Al has leaned more and more toward politics. It’s great to have the option to “click” on or not. Hopefully that will continue.

    • On October 23, 2013 at 11:39 am,
      Matthew says:

      I agree.

    • On October 23, 2013 at 11:44 am,
      Glen says:

      I think its appropriate to discuss politics as it pertains to the markets. We live in a fascist world where all markets are controlled or manipulated for the benefit of the governments enjoyment so the geopolitics have a major role in investment thinking. Al is certainly onto something.

      • On October 23, 2013 at 12:28 pm,
        Big Al says:

        Thanks Glen,

        I certainly think that is the case.

        Best

  11. On October 23, 2013 at 11:44 am,
    Dan, calgary says:

    If more submitted comments are directed at Gary’s credibility rather than the PM market at hand; then this thread is losing value.

    Dan

    • On October 23, 2013 at 11:50 am,
      Matthew says:

      Exactly. We should focus on the content of each opinion, not on who is delivering it.

      • On October 23, 2013 at 11:55 am,
        Dan, calgary says:

        Yup, like TV, if you don’t like it don’t watch it.

      • On October 23, 2013 at 12:29 pm,
        Big Al says:

        I would have to agree, Matthew!

  12. On October 23, 2013 at 12:52 pm,
    b says:

    Registered investment advisor? I know a guy that was a “financial advisor” that didnt know that gold is money
    Just thinking about it, I wonder if this registered investment advisor diploma? could be challanged? Do the guys that wrote the exams know gold is money? If not, a person might very well have to go to their school to learn how to pass their exam, who knows what they think is money. Just for interest sake I contacted the Misses institute, the guys that think “austrian” thinking is the way to go. Gold is money yadda yadda.
    They told me they dont have an acredited course, go figure.

    • On October 23, 2013 at 1:09 pm,
      Bird Man says:

      That is because Austrians are the same as guys who peddle home remedies, vitamin supplements, multi-level marketing, get rich quick schemes and hair tonic. If they were going to be accredited they would be forced to prove their ideas had merit and get the concepts past a committee of their peers. Not going to happen. They function best in the shadows tossing rocks at conventional ideas while do a twosie-two dance around the extremist political thinking of their membership. Tough gig.

      • On October 23, 2013 at 1:23 pm,
        Matthew says:

        As you know, I don’t believe there is any merit whatsoever to your characterization of the “Austrian” school of economics. The fact is, the establishment will never endorse the truth, much less promote it. If they did, they would be undermining their own existence.

    • On October 23, 2013 at 8:27 pm,
      Big Al says:

      Interesting point, Ben

  13. On October 23, 2013 at 1:17 pm,
    b says:

    I see Bird you retain your sense of ha ha.

    • On October 23, 2013 at 1:52 pm,
      Bird Man says:

      🙂 Yes I do!

      • On October 23, 2013 at 1:56 pm,
        Bird Man says:

        PS: Some of my best friends are Austrians. And one of them is gay.

        • On October 23, 2013 at 4:22 pm,
          Tony says:

          who really cares if he’s gay. He could be married to a goat. No one should give a shat

          • On October 23, 2013 at 10:55 pm,
            Bird Man says:

            Tony, it was a joke. Like the racists who try to reassure you they are Ok people and then follow it up with a comment like “some of my best friends are chinks” and do it with a serious face. For the record I don’t really know any gay Austrians. Just playing around, friend.

          • On October 24, 2013 at 6:50 am,
            Bobby says:

            Like big al saying some of his friends are liberal Democrats., its all the Same.

  14. On October 23, 2013 at 1:18 pm,
    James (the lesser) says:

    I stand on my belief and principles when it comes to the selling of selections, which I have openly declared here on several occasions. The contributors to this blog, which I am one of, add value to this site because of our diverse background, experiences and knowledge. Nevertheless at the end of the day we are nothing more than anonymous faceless bloggers.
    Our opinion is just that, an opinion. When someone has the podium however that is a different story’. That person needs to be held to a higher standard. Whatever the venue, whatever the investment of choice (racing tips, stock tips, gold tips) the person dispensing their recommendations needs to possess a certain amount of industry expertise. Based on my background I have always made a point of avoiding these so called experts and calling them out. I made my money using my own skill, expertise and experience. I put my money where my conviction was. Too many analysts are nothing more than sharks feeding on the guppies. On this site I express my opinion for two reasons. The first it helps me to organize my thoughts and clear my mind. The second is to perhaps expose another reader to a bit of knowledge, information or though process they are not aware of. I don’t give selections. With one exception. On this site a few months ago I recommended Nuskin (NUS) You can go back and find the thread. I was not wishy washy, I did not equivocate. I did not hedge. Go find the thread. Look it up! This is the type of selections I make and expect. Anything else is circus acts

  15. On October 23, 2013 at 1:47 pm,
    Andrew de Berry (Rev) says:

    Thanks James – You’re right I sense when someone has the podium they DO need to be held to a higher standard, while hopefully some of us faceless bloggers will get an opportunity to meet up in person.

    • On October 23, 2013 at 2:10 pm,
      Bird Man says:

      Experience in the real world counts for a lot with me. So does consistancy, integrity and word of mouth endorsments. The paperwork and diplomas mean almost snot. Shoot, realtors all have a diploma but at the end of the day most of them are just petty brokers intent on making a buck to pay their own bills. Lying is epidemic in the industry in my experience. Most will as gladly sell you swampland as Gracetown and never bat an eye or offer genuine insights into the industry nor warn you off the risks and pitfalls. When have you ever heard of a broker who steered you away from a bad investment for your own good? NEVER!

      • On October 23, 2013 at 6:00 pm,
        Greg J. says:

        Great post BM, and in my experience, never have heard of a broker………..

  16. On October 23, 2013 at 1:47 pm,
    b says:

    Well, we all live by our own “code” James.
    I dont see any reason why a guy cant use his “system” for guessing.
    Some work some dont, some work at differanrt times.

    My guess is, once gold starts moving up, I will be able to predict at about 95% acuracy which stocks for PMs will increase.
    Here is my “years to refine researched beyond reason system”
    Go to the kitco site….check their list of aprox 85 stocks on their home page, buy them all, you will hit at about 95% success.

    The caveat with this system is that gold and silver needs to go up, but when it does you look like a genius stock picker to your friends.

    Day trading is another story of course.

  17. On October 23, 2013 at 2:17 pm,
    Glen says:

    We live in uncertain times. I believe that the US is on the road to Third world living. Those who will be successful will be the ones who put away something for the future. The stock market is a bad strategy. Who cares if the stock market goes up for the intermediate future if it eventually takes a 75% tumble and you were unable to get out? Some decisions need to be made. Get out now and realize that this paradigm is not real. Buy gold coins and hide them just like they did in ACE 70 when the romans destroyed Jerusalem. That way you will have something to fall back on. Now, not everyone will survive and enjoy the gold but eventually they will be discovered and someone will enjoy them. We do not know when the stock market will crash or the bond market will crash. Dabble if you want to. I say it is time to re evaluate your life. Learn to live for today but simplify your life. Reduce needs. Appreciate the fact that you have a handfull of gold coins hidden in a secret place so that when the day comes when the markets get out of control of the fascists that you have something to fall back on. Avoid debt. Appreciate life. And, be as safe as possible. We are in uncertain times right now and we have to muddle thru in case there is some kind of miracle that happens and our nation and our government and our economy decides to take a different path. I am convinved that this will not happen until we travel the path of third world living and thinking. It will be forced apon us. Save your gold and make investments that allow you to grow a little of your own food and without a debt try and reduce debt. We are in a world of shit right now. And, whether we can kick the can for 4 or 5 years more or not is in question. For the record, I do not believe that Obama can make it thru this next term without my predictions coming true. Timing is impossible. Wouldn’t we like to be able to time how this will unfold?

    • On October 23, 2013 at 3:27 pm,
      JERRY the Long..................O^OTB says:

      Glen…..I have to agree with you concerning some of your thoughts.
      Hang on to your gold, is number one.
      Number two…..WE ARE IN A WORLD OF S… RIGHT NOW.

  18. On October 23, 2013 at 2:28 pm,
    Glen says:

    There is a subject that no one talks about on this site which is called simple living. If you believe that the US is heading towards third world conditions, which I totally believe than it is pretty obvious that the subject of simple living should be explored. What does simple living mean or imply? It means living below your means in a manner that is still desireable or enjoyable. It is a process. It has to be practised and it is not something that you want forced on you. It has to be something that you work towards. If you want to survive in the new paradigm than this skill needs to be worked on right now. Simple living is a huge topic and huge subject. I have not mastered this. However, I am working on this. Very hard. I have made bad decisions with my gold and silver investments but my decision to invest in simple living has paid off. Avoid this subject at your own risk as you are assuming that you will continue to live as you do now in the future. This is not the case. I am not trying to prove something to you because I personally don’t give a shit how you live. I am just sharing my opinion and giving you a possible avenue for future planning. Good luck.

    • On October 23, 2013 at 3:34 pm,
      JERRY the Long..................O^OTB says:

      again I agree….simple living….. , BUT, that is not what the pretend society wants,,,they want to pretend they are rich, good looking and smart. When the ride around in there over priced BMW, which is leased, they think that everyone thinks they are lookin gooood…….the latest statistics, baby boomers, will have to work tell they are eighty, to pay for their stupidity of lookin gooood, and fealin and pretending they are rich……..now, ain’t they smart………

      • On October 23, 2013 at 4:35 pm,
        Glen says:

        There are things we can do. Not everyone is helpless. If you can move to a more warm climate that is smart. Live in a smaller home with a large yard. Grow food. We don’t need heat or cooling in Florida for example. But, there are many places to consider. Florida sucks because you are trapped in a funnell where people will flee out of the state and have no where to go. I live in Panama. Panama has its own lists of problems but a person can survive in Panama if they think appropriately and can eat the available food such as boiled plantain. Not very many Americans can eat what the panamanians can eat. But, in Panama I do not have to worry about heating my water or my house and it is never cold here. We can eat the local crappy food and stay alive. And, the locals don’t know what it is like to live like the King and Queen niggers are used to living in the US. Those folks are going to destroy your neighborhood and kill you and your kids. Believe me, I am glad I do not live with you.

      • On October 23, 2013 at 4:43 pm,
        Jerry(Gator)M says:

        JERRY the Long: LOOKIN GOOD in my humble 1975 pontoon powered by a powerful paddle and overpriced 1960 evinrude motor. Whoops!! not leased but salvaged out of a scrap yard but still LOOKIN GOOD. Yeah, I’m 75 and yeah lookin for a job to compensate for the 0 interest rates because my spendable is under the mattress to protect it from the bank. I took Sinclairs advice and got out of the system. Life is still good though with my pm’s out of reach, my food supply in tact and my ready cash in a safe place. Still enjoy the great outdoors and the Florida waterways. In this day and age you have got to look for enjoyment and encouragement under every rock because both are getting scarce. Enjoy life every day. !! Regards !!

        • On October 23, 2013 at 5:25 pm,
          JERRY the Long..................O^OTB says:

          Jerry gator….how ya doing….keep the pontoon ready…..we might need it to scoot on down to Panama to see Glen…. I have my panama hat and cigars, will I fit in?
          Glen….I love plantain……when is the best time to come down……..

          • On October 23, 2013 at 5:28 pm,
            JERRY the Long..................O^OTB says:

            Jerry do not worry about the 1960 evinrude motor…..they run forever…best made,no plastic parts……..

      • On October 24, 2013 at 2:23 am,
        SD Marc says:

        Jerry, you are exactly right…a lot of American are caught in that “trap” and become “DEBT SLAVES” to their own vanity and self-centeredness!

  19. On October 23, 2013 at 2:39 pm,
    Glen says:

    As far as the 1000 dollar gold call by Gary. This could very well happen. The value of my gold will go down. It is scary. But, scary things are going to happen in the next 12 months and we have to hold on. This is not a firm call by savage. It is a possibility that could very well happen. It is not the time to sell the gold coins. We got to hunker down and let this play out. It will mean that events are progressing that are very important. As slow as they are. And, things are seemingly happening very slowly. I believe they will continue to happen this way. Slow burn. If 1000 dollar gold comes to visit it will be a huge sign that collapse is in process. I don’t welcome this. Live like you want to live. We know that dark events are in our future so there is no sense in complaining about it. Just do the best you can.

    • On October 23, 2013 at 3:19 pm,
      SD Marc says:

      Spot on, Glen!

      • On October 23, 2013 at 3:47 pm,
        Greg J. says:

        Glen, Great comments!!

  20. On October 23, 2013 at 3:27 pm,
    James (the lesser) says:

    Glen, you are 100% right.
    Many Americans will be forced to make adjustments in their lifestyle whether they want to or not.
    Also the best things in life are free anyway.

  21. On October 23, 2013 at 4:25 pm,
    Glen says:

    Ok, that is nice. Only a few will ascribe to simple living. Everyone will ascribe to it eventually. I am not the expert on this livestyle form. There are books on the subject of which you can find information in your local used book store for a buck or 2. Where I live no one would ever buy that book since they live that way already. Living simply is a lifestyle. Subscribe to now while it is an option. Don’t wait until it is forced amongst the lower spooge. The spooge believe that living like royalty is their birthright. It is not.

  22. On October 23, 2013 at 5:35 pm,
    James (the lesser) says:

    Glen,you are on a roll and right again. Too many Americans feel they are entitled to everything. We have become a soft discontented society

  23. On October 23, 2013 at 6:20 pm,
    Paul L says:

    $1000 gold would not exactly begin a bubble phase in my opinion. It could head to the 800 area or do a dead cat bear market bounce to 1250 and head down again.