The Resource Sector
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Hour 1:
- Segment 1: We start the show discussing China with the Business Editor of The Epoch Times, Valentin Schmid.
- Segment 2: Bill Howald discusses activities of his company, Rye Patch Gold, in the resource sector.
- Segment 3: Economist Dr. Peter Klein of the Mises Institute, discusses the important role of the entrepreneur to society.
- Segment 4: Glen Downs, Chief of Staff to Congressman Walter Jones, comments on the 6.7% announced unemployment rate.
- Segments 5, 6 and 7: Our expert panel, Peter Grandich, Richard Postma, Rick Ackerman and Dean Linden weigh in on current economic and political issues.
- Segment 8: Jeff Deist, President of the Mises Institute discusses the upcoming Mises Circle in Houston featuring Dr. Ron Paul and Lew Rockwell.
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HH,
PM bulls that choose to remain stubborn and inflexible in the face of black swans lurking under every rock are not just going to be humbled by the market, their going to be rendered insolvent with a buy and hold mentality.
2014 may well bring so much volatility that the resulting normalcy disconnect factors may well make this one of the most dangerous markets ever.
If there ever was a good time to be extremely nimble, while utilizing a quick trade philosophy in the gold and silver shares space or even the greater mining sector in general, 2014 may well be it.
Precisely Vortex…..unless we get a event that drives gold up but it will
always go back to it means. Oil is a biggie with the US almost independent.
Gold has been going down looking ahead. Baby boomers are retiring now
they are not going to be buying very much. Harry Dent has a good argument
and he’s been wrong but although he has does not mean this artificial economic
miracle will continue just printing money. I’m not so sure if they want the dollar
to collapse just yet. First would come another great deflation so the elite can buy
everything for 10 cents on the dollar. THEY GOT RICH LAST TIME ONLY THIS TIME
WOULD REALLY LINE THEIR POCKETS. Just food for thought. Holding long term
almost bankrupted Buffet in 09 but we all know what happened. Buffet would be
broke today with no bail out. Real estate investors are still suffering holding long
term. With no bail out they would all be broke today.
Anyway, its all gambling but at least you do own something if its paid for. Still you
can lose lots and if your investment is money you need in 3 years and it could take
10 your taken out o the woodshed.
So trading something is fine as long as you have a target. However, that target is going
to come with major corrections along the way and its much safer to take profits. If we
have another 08 and it looks likely being in cash with profits much better than waiting
for a market to come back in 5 or 10 years or longer.
ITS JUST REALITY…..real estate is not out of no woods and neither is equities….NOR
GOLD. Major investments in anything can send one to the poor house. Diversification
is not always the answer either especially if we get another crisis.
BEST ADVISE I’M TAKING MYSELF IS TO STOP ALL SPENDING JUST NECESSITIES ONLY.
Spending on things we don’t need most always comes back to bit us later. We have a
permanent crisis were in and the future is very uncertain. Anything can happen…real estate
crashing again because its way over bought to speculators on wallstreet. Stocks are way
overvalued now. These bubbles pop and gold will go down too. Depends if its a controlled
decline and I rather doubt it. The mining shares could be predicting something very ugly
will happen. They did break long term support. Oil is heading down.
WE ALL NEED TO WONDER IF ITS WORTH ALL THE PAIN INVESTING JUST TO
LOSE MONEY. My view is strongly against it and to take my profits with me. IMVHO
I like your curtailed spending comment, Heavy!
ditto………………the time to hunker down has arrived ,,,arrived about two years ago.
Not if you have a long term horizon which is mine. Should be good for the kids and it just feels right for me. See my comment to Heavy.
Okay Heavy, here is my deal. I am going to average into the silver market on a weekly basis. Not real big but regularly.
Silver is the best and safest precious metal play. SO IF YOU ARE LONG TERM ITS MAKES
THE MOST SENSE. The corrections I feel moving forward are going to be steep. We are
definitely going up to 1450 gold give or take a few but its not going to be easy getting there. If gold peters out then we will see under 1100 gold after this rally. This rally though like I said is going to have some very steep corrections possibly. So for me I will
not tolerate babysitting my positions and having it all get taken away. I’m playing with huge capitol and I’m leveraged as well. Makes a big difference but still anyone who gets in even with no leverage with some good funds will feel these steep corrections I feel are going to ensue. Right now we are most likely see 1280 gold give or take a few and then head back down again to under 1200 testing or breaking the last low. Then head back up again to 1300’s. Then back down again and then back to the 1400’s then the real steep correction under 1100.
THESE ARE BIG POSSIBLITIES…..so here you are made a lot of money just to give it all back and losing money with…LONG TERM THINKING.
MOST LIKELY THIS IS A TRADERS MARKET…..FOR NOW ANYWAY.
Best to buy all nice corrections and sell the healthy rallies up to 1400’s in gold.
Mining shares and silver as they will all go down together.
ADDING TO IT…So if someone is wrong on not taking profits during this rise to 1400’s in gold most likely that person will be made whole when it finally gets there with possible major corrections along the way. Then if they refuse to take profits at near 1400’s in gold then they might have a long time before they see their money again.
THIS MARKET IS VERY DANGEROUS RIGHT NOW. And I’m not taking the chance.
WHY…BECAUSE ITS NOT WORTH IT. Greed ruins peoples lives. THATS NOT WHAT I
WANT.
Greed is absolutely very dangerous!
My philosophy: hard asset commodities = long term; resource stocks = short term or less than three years; and, big board stuff = mid term with constant vigil.
IF oil drops below 90 and stays there for a while the costs will exceed revenues for some companies and supplies will dwindle. Boone Pickens stated this a while back during an interview on financial TV. Also, Obama and his greenies don’t want the price to fall because it makes renewables lessc competitive. So if we might get a flash crash, although unlikely given the size of the petro market, but I doubt they can keep the price down unless the global economy goes to hell in a hand basket. In that case, we’ll be in a world war and oil should go up–maybe even rationed.
Remember in the 70s when they bumped the price of gasoline up close to 100% and it never went back down. Now here we are withinstant replay $1.50 to over $3.00/gal.
THOUGHT FOR THE DAY:
Yesterday is history,
Tomorrow’s a mystery,
Today is a gift,
Maybe that’s why it’s called the Present.
Methinks I will present myself with a present of real coin presently. Silver and platinum first; then gold.
As you can see from my comments CFS I am with you!
Nicely put cfs. All other opinions on this site are no more than that – just opinions! A
so true Andrew…however some have been proven correct, others wrong. Identifying the proper course of action (trend) is the key to wealth.
Along with time frame Bobby!
Hey….The good thing about this gold pop is that my Gold Stocks are UP UP UP!!!
I am only down 75% now!
I think I’ll run out quick and spend the profits before it’s all gone again. The wife and I have decided to go out tonight and split a hamburger.
And a chocolate shake?
What are the IMF plans for our future?
Does the IMF start with smaller countries and work its way to larger ones?
Watch the following clip on how the IMF literally enslaved Jamaica in debt.
The clip came to my mind when I heard the name Stanley Fisher in the news as a support for Janet Yellen at her new post.
Stanley makes an appearance sickly justifying IMF methods.
Internalize that IMF methods have been a monetaray blessing to the US…. making us friends nowhere. Are there any ‘free markets’. Tell that to Jamaica.
Why is it that the smallest countries tend to have been on the Troika block first. Is it a happenstance that Europe is cued up in a troika line from small to large.
Maybe the IMF has to digest the small slaves states first. Maybe Jamaica was a 70’s experiment for the IMF.
Watch the informative clip with an in the news Stanley Fisher interview spot.
Headphones recommended if you like reggae.
http://www.youtube.com/watch?v=gMMYEGPsD9c
TKERMOTW
thanks Dennis for the post…
Yesterday, I questioned ,,what Fischer would have to do with the FED as Obama elected him to the board………….There is definitely something going on ……….Obama ,,has an agenda……….And nothing Obama does is beneficial for the USA……….
The poorest excuse for a president since,,,,….well,,,,Bush, 1 and 2,,Clinton , Ford, Carter, Nixon, Johnson and FDR…………
fORGOT………WILSON……….
Thanks Esq.
Good clip Dennis;
Canadian dollar is dropping like a stone; not because of IMF as in Jamaica’s case, but because of Bank of Canada governor’s policy.
Mark Carney was proponent of strong dollar policy – Stephen Poloz not so much.
Since Carney left our rugged shores on July1, 2013
CEF.A(to) is up 5.4% and CEF(ny) is down 0.5%
-strictly a reflection of currency devaluation
http://stockcharts.com/h-sc/ui?s=CEF/A.TO:CEF&p=D&st=2013-07-01&en=%28today%29&id=p05595499467
What a BASTERS BANKERS ! tanks IRWIN aaaaa !
Thanks for writing such an ean-sto-underytasd article on this topic.
Valentin Schmid makes some good points but I don’t know whether his statistical source on China really means much statistics often are used to cover up lies and so I don’t put much credence in them.
I find that China is making more of the right moves than the west. They are now buying up land and derelict auto facilities in The Detroit area for peanuts, soon you will see economy cars rolling out of these facilities destined for The US market. Is this another smart move, I think so. We all know that China is saving US currency to pay cash for much of what they buy overseas and just like Japan and Germany you start by making toys and progress into more complicated and integrated products. They are now advancing their manufacturing to a stage where they own foreign factories and not so much the other way around. DT
DT,
You just about nailed it.
You will not “see economy cars rolling out of these facilities”.
In a recent rare mishap disclosure it was revealed what China sees for the future Detroit manufacturing.
http://ebookclipart.com/600/vector-clip-art-of-a-black-and-white-human-factor-chinese-person-pulling-a-customer-in-a-cart-by-leo-blanchette-729.jpg
DB-over and out!!!!!!!!!!!!!!
Hi DB, The Chinese know that the rest of The World has reached a saturation point with their cheap lookalike products this is not a limitless market so they are expanding overseas and we need to be very worried about there presence. DT
Yup, yup and yup Machine Gun!
DITTO Guys…Ditto!
I find it odd how when talking about trade advantages that early on in the discussion inevitably China’s currency manipulation surfaces.
I find it odd because it always comes from someone griping about the unfairness of currency manipulation when it placing them at a disadvantage. What they fail to realize is that their own central bank is busy at manipulation as it’s primary function.
At some point fundamentally after a lot of painful…. even lethal….experiences there will hopefully arise the realization that debt is not money.
What is money? A worthy fundamental consideration to explore!
Thanks for that comment, MachineGun
Re: segment 5
It is also bullish that many exploration juniors are above their 200 dma (of which, I own 5).
I mentioned recently that exploration juniors have been outperforming safer, larger juniors, overall, since the first half of 2013. The implications are bullish longer term. GLDX:GDXJ is also above its 200 dma and has been since November.
It looks to me like gold will extend its gains going into next week.
I agree we are going up to about 1280 gold and then a big correction of higher odds down to under 1200. See what happens but I’m trading this market buying on all nice corrections and selling on healthy rallies up to 1400’s in gold.
I MAINTAIN THIS IS A TRADERS MARKET. HOLDING LONG TERM COULD BE A LOSER.
I agree Heavy as your thoughts pertaining to stocks!
There is an excellent, albeit somewhat scary interview, of David Stockman and his thoughts on worldwide macro economics on KWN this morning.
From the for what it is worth category…………..
Also from my Snapple cap………..
“Real Fact” #937…..
Squirrels lose half the nuts they hide.
Now I do not feel so bad!
I wonder what percent the infamous “Blind Squirrrel” loses?
Dennis I was just shopping in the grocery store and I had my Ford Built Tough coat on and a little old lady with a bundle buggy ran me over, does this sound familiar. DT
Dennis……….”.Blind Squirrels” hand on to the tails of their mates,,, and get half of what they uncover together…………
Jerry, people think that Irish Tony is a squirrel, he can’t remember where he buried his nuts and when he starts digging all he finds is silver. DT
We all need to do that Jerry!
Make that the FAMOUS blind squirrel!
Al, where is Bob Moriarty this weekend?
He said we were bottoming since Mayish. Many stocks are consolidating and breaking out. This could be a good tradable rally. Best to ignore the news and let the market tell us.
It’s shaping up to look the best in a couple years. Stocks should dictate where gold is going with forward discount of the market???
Bob is overseas on a property visit.
Summarizing David Stockman’s KWN interview in a phrase……
Malinvestment eventually proves itself.
Thanks AL for having Bill from RPM explain their upcoming plans.
I look forward to the announcements.
I am too, Bill! I have faith in these guys!
Big
An article about the replica city built out to spec in China.
Interesting it is like a slice of Epcot imbedded in rural China.
If your wife ever wants to travel the world….take her to Orlando for 1 week. Go EPCOT for two days then golf the rest of the week.
One issue I would like to see discussed on The Korelin Report is the effect that a crypto currency would have on our day to day living, I find the effects could be very scary in the complexities of lifestyle, and in the control it would give banks and others over our finances. DT
Fair enough, Machine Gun
A few days before the 1929 Crash there were economists who reasoned that stock prices would remain at their current highs indefinitely. It was only the likes of Al Capone and Charlie Chaplin who saw the rise in share prices as fraudulent, and unsustainable.
Change of Subject, Interesting article and graphs on silver on 123gold
http://www.321gold.com/editorials/chapman_d/chapman_d_011214.pdf
It may be awhile, but I think we’re headed north.
Certainly would think so, Gary!
Al Korelin are you and Big Al one and the same?
My wife and I were listening to Al and Cory this morning, and she thought Cory had a nice voice and asked me if I knew if he was a singer or in the choir at a church. Well are you Cory?
Great interview with Grandich. Take heed and listen as he makes total sense.
http://bullmarketthinking.com/wp-content/uploads/2014/01/182013grandich1.mp3
Good interview Gator. I think Bob Moriaritys advice was get all the physical you think youll need then everything else, after that if you have any cash left over then maybe throw it at the market. Peter is kinda sayin the same thing, all the “tools” they have is sorta like seeing every card dealt. Tuff to win.
I served as a commodities broker trainee in the early 70’s with Merrill Lynch and experienced exactly what Grandich is talking about. I was trained to sell financial vehicles and commodities to people who knew nothing about the markets and ML knowing the instruments would fail. I was then taught to take the opposite side of the trade. I was let go when I refused to accept the doctrines set down by Merrill Lynch for trading stocks and commodities. I can’t imagine that there any honest people left in the brokerage houses knowing first hand what they are taught to do. The most aggregious trades were the pork belly trades. People were investing every last dime they had because they watched limit up days in pork bellies and were told they had to get in now.
Well they got in at the top and the very next day bellies went limit down and the investors watched their entire investment evaporate in a matter of hours. Guess who was on the other side of the trade.
Peter does not see any crash in equities. Just a decline over a few years with some huge upside bear rallies. If what Peter says plays out with no crash type declines is a guaranteed winner for the metals. Make no mistake about it we could be seeing the start of a big new bull in gold.
Jerry, O’OTB, remember Valentines day is coming in February, take your honey out for a night of dining and dancing, they will never forget your romantic overtures. DT
DT…..THANKS FOR THE REMINDER………. I am planning to be on the beach in Florida in Feb. and plan on having a great time…..The honey and I will be moon lighting by the ocean , star gazing and wondering what comes next…. Will be counting sand dollars and combing the beach for any gold rings which may have slipped off the fingers of the elderly……………IT IS A GREAT TIME TO BE RETIRED…………..
Gold is now testing that $1250 level but according to the fortune tellers we must make it above $1268. DT
ITS GONNA GET NASTY THIS GOLD TRADE
High odds going down to test the double bottom.
Then we should take off for the 1300’s
Another correction of good size before we get to the 1400’s.
Then back down to under 1100.
This is traders market for now
Tax loss selling bounce in the new year was pathetic.
Oil long term looks to be in trouble on its way to 50
Equity market could have a huge correction deflating everything
Over the next year.
SO, I’M TRADING THE MINING COMPANIES SELLING ON BIG UP DAYS
AND BUYING THEM ON HUGE CORRECTIONS.
There is no way to stay invested in this gold market without
Trading it. VERY HIGH RISK…BUY AND HOLD.
My game plan changed to trading it. Up to 1450 and
See if gold has any legs to stay on after we hit the
1400’s.
I DON’T BELIEVE THIS IS YOUR USUAL GOLD BOTTOM. ITS A
TRADERS MARKET FOR NOW.
IMVHO…..see ya in a few weeks if anything changes.