Weekend Show – Sat 1 Feb, 2014

Do you believe the markets are totally free?

Hour 1: 

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Hour 2: 

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What a week in the markets. I would have to say that anyone who believes at this point that the markets are totally free should give it a second thought.

Hour 1

Hour 2:


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Featuring:
Al KorelinCory FleckJeff DeistPeter GrandichGlen DownsJay Taylor
Richard PostmaGary SavageAxel MerkJames Turk

Comments:
  1. On February 1, 2014 at 1:05 am,
    CFS2000 says:

    The number of Executive orders is totally irrelevant. I is their content that counts.
    Clearly Neither major party is prepared to act responsibly.

    • On February 1, 2014 at 7:35 am,
      HEAVYHITTER says:

      Here’s my great concerns and with the world in the worst way financially …EVER…

      GOLD IS A…….NO BRAINER…….this is coming from a knuckleheads perspective.

      1. A black swan event is likely in a few months. If indeed it takes place you have
      selling that will …..I believe take gold down to 1000 and the miners will get crushed.
      Larry Edelson…..do you know who he is. Well….da ya ?? He’s that knucklehead no
      one payed attention to last 3 years. He called gold down to 1180 ……..long time ago
      way in advance. Within days and to almost the exact price. Now he is calling gold
      down to 1000 in May. WHY ? This is my knucklehead theory……MR BLACK SWAN
      IS GOING TO SHOW UP ON EVERYONES DOOR STEP. So gold is a no brainer in my
      view but Mr. Black Swan plans on pooping on our gold party. TEMPORARILY and
      causing as much damage as possible. HUI and GDX did break their long term trend
      last year. So this event looks likely. Not now but gold may not make it over 1500 on
      this possible gold bear market rally.

      2. The central planners I believe will welcome the Black Swan just to destroy lots of
      all that money they printed. Thats what they do…CREATE MONEY AND THEY ARE NOT
      STUPID….THEY KNOW VERY WELL HOW TO DESTROY IT. Inflation seems to be walking
      in the livingroom and helping himself to a cup of coffee.

      3. All that dumb money must be destroyed in the stock market. Thats what causes inflation
      these kinds of people being rewarded only to spend it foolishly not like with frugal wealthy
      strong hand investors. The black swan only if short lived will cleanse the system of all these
      Parasites not interested in keeping the money invested but to spend on foolishness. Most people are only interested in the pleasures of wealth and can’t live by good sound principals
      just doing their dog and pony show……impressing others.

      3. Once a market like the public starts investing in….real estate, stocks and gold too…when
      the froth starts to become obvious the insiders leave the party and you have the bag holders
      who thought it was quick way to riches only to have fun with it find out it was the beginning
      of their end for them.

      4. The FED has a 4 trillion dollar balance sheet what a better way to unlosd all that treasury
      paper. The Black Swan.

      NOW THESE ARE ALL POSSIBLITIES. nothing more or less. However, my knucklehead tells
      me this event could happen for all the reasons above.

      For me…….I won’t appreciate Mr. Black Swan killing ….MY GOOSE ……thats laying

      ALL MY GOLDEN EGGS.

      • On February 1, 2014 at 9:10 am,
        HEAVYHITTER says:

        The reset will probably only happen during an ENGINEERED BLACK SWAN.

        When everyone is …..OUT.

        Gold rally for now snd then black swan.

        Physical is best to ride it out if huge paper losses bother anyone.

        Riding the paper will be the most profitable though in the end.

        If the reset is real event you can bet they will do it during black swan.

        BOTTOMLINE…….IF YOUR NOT IN…..YOU CAN’T WIN.

        Gold is a very tough cookie. Huge profits ….they will make it
        as difficult …..AS POSSIBLE. Very few riders .

        You can’t time this one….. if this reset is forthcoming.

        • On February 1, 2014 at 11:09 am,
          HEAVYHITTER says:

          Not only that…….A RESET AND BLACK SWAN all wrapped into one nice gift

          I WILL ENBRACE IT…..WITH OPEN ARMS

          This bear rally in gold is over soon, SELL…..wait for my gift

          Gonna be early just a little early buying again…but don’t want to miss the reset.

          You know the reset will come when gold investors are jumping out.

          Sediment is in the toilet. BUY BUY BUY…

        • On February 1, 2014 at 1:00 pm,
          Big Al says:

          Agree Heavy!

      • On February 1, 2014 at 12:59 pm,
        Big Al says:

        Larry is an interesting guy.

        I agree about the black swans.

    • On February 1, 2014 at 12:56 pm,
      Big Al says:

      So very true

      • On February 1, 2014 at 4:45 pm,
        HEAVYHITTER says:

        NO BLACK SWAN AND GOLD IS READY TO…..ROCK

        WHY….history is proof a bear market in stocks which is very likely now

        YES……IS GREAT FOR GOLD. : ) HA…HA might take more time back and filling, .patience

        Gold bears should take note. You need to flip and go long.

        • On February 2, 2014 at 10:19 am,
          HEAVYHITTER says:

          CELENTE HAS SOME REALLY BAD NEWS

          Shtfplan.com ….read all about it

          Celente says we are not going into collapse.

          WE ARE ALREADY IN IT. …Just like Bob M. … has said

          Its umfolding like Celente says right before our eyes.

          Whats funny…..where I am its like disneyland here. Never know it.

          Why…thats because people still have their blindfolders on.

          I’M BIG ON BLINDFOLDERS. Use em all the time in the markets

  2. On February 1, 2014 at 1:10 am,
    CFS2000 says:

    Neither Jeff or Big Al seem to realise, the tyrant is determined to destroy the country.
    Jimmy Carter was well intentioned, but incompetent as a President. There he was a BAD President.

    • On February 1, 2014 at 1:02 pm,
      Big Al says:

      Okay, but a good heart. Do think the current one does? That was my point.

      • On February 1, 2014 at 2:19 pm,
        CFS2000 says:

        Need a hint about my feelings?

        How long have I been calling him “The Devil Incarnate”
        I cannot find a redeeming characteristic.

        • On February 1, 2014 at 3:48 pm,
          Big Al says:

          I knew that!

  3. On February 1, 2014 at 1:14 am,
    CFS2000 says:

    There should be Therefore.

  4. On February 1, 2014 at 1:22 am,
    CFS2000 says:

    Krugman does not understand the concept of time lag effects.
    The US economy bus is driving to the edge of a cliff and neither major party is willing to turn the steering wheel or step on the brakes because they are having a drunken party on the bus.

    • On February 1, 2014 at 7:13 am,
      bj says:

      Depending upon the size and scope of a policy, it can take up to five years to fully realize it’s impact. Thus Obama owns it all…. every bit of it.

      But the ownership is shared with all of Party and the RINOs–where Senator McConnell (R-Ky) comes to mind along with the movie Ole Yeller.

      In that movie a devoted hound sacrificed himself to save his human family from a rabid wolf. Now comes SEn. McConnell (R-Ky) who, when faced with a pack rabid wolves out to consume our children and their childrens’ future simply rolled over time and again, spread his legs and let Sen Reid rub his belly. Time to send that ole dog back to Kentucky where he can sun his bones on a porch overlooking a hollow–and do no more harm!

    • On February 1, 2014 at 1:03 pm,
      Big Al says:

      Great analogy 2000

  5. On February 1, 2014 at 1:38 am,
    CFS2000 says:

    As I understand it reactor 4 is the only one that may be safe, because it was being refueled re-fueled at the time of the Tsunami.
    You don’t have to “see” to deduce what is happening. Judging by the concentration of short-lived isotopes and their location in the Pacific, it is possible to deduce that at least one core is in China Syndrome. i.e. has burned through the bottom of its containment and is in content with the ground water.
    There are none so blind as those that do not wish to see.

    • On February 1, 2014 at 1:06 pm,
      Big Al says:

      “That do not wish to see”?

      Common Professor, “who”

      Gotta occasionally show you I have a brain!

  6. On February 1, 2014 at 1:40 am,
    CFS2000 says:

    I for one, Big Al, really appreciate the time and effort you put into creating all this content.

    • On February 1, 2014 at 1:07 pm,
      Big Al says:

      There is only one thing I would rather do!

  7. On February 1, 2014 at 2:11 am,
    CFS2000 says:

    Jay gets it.
    However, in the thirties, judging by Homestake mining the price of gold did not hold up when the market collapsed. It was only later, after the deflationary collapse, when the mine made huge profits, because production costs were much lower, that the price of Homestake mining took off and it became a great investment.

  8. On February 1, 2014 at 2:15 am,
    CFS2000 says:

    James Turk is correct that gold is money outside the banking system, but gold only has the value determined by what people are prepared to pay for it.
    The salvation here is that I believe Asians will always be prepared to pay substantially for gold.

    • On February 1, 2014 at 7:59 am,
      Markedtofuture says:

      James Turk is correct that gold is money outside the banking system, but gold only has the value determined by what people are prepared to pay for it.
      ————————————————————————————————————————-
      Here are some charts that shed light on the subject.

      The lost Century by Egon von Greyerz January, 2014

      “In November 1910, some powerful US bankers joined by the influential Paul Warburg had a meeting on Jekyll Island that would determine the destiny of the world financial system and the world economy for over 100 years. This infamous meeting led to the creation of the Federal Reserve System in the US on December 23, 1913.

      The Fed was created by private bankers for the benefit of private bankers and today, 100 years later, they have been more successful than they could ever have imagined in 1913.

      Not only have they created a system that efficiently controls the world financial system for their personal benefit but also world politics. They totally understood the advice of Mayer Amschel Rotschild, the founder of the Rothschild banking dynasty, who famously proclaimed: “Give me control of the nation’s money and I care not who makes its laws.”

      “Give me control of the nation’s money and I care not who makes its laws.”

      So for exactly 100 years now, the Fed and other central bankers have totally destroyed all major world currencies and left the world with debts that cannot and will not be repaid with normal money. And whilst achieving this unprecedented wealth creation for the top level of financiers, they have in the last 15 years also managed to enrich almost every single individual who works in Wall Street in New York or in the City in London. In 2008 the financial system almost collapsed had it not been for an injection of printed money, debt and guarantees by governments and central banks to the level of $25 trillion. Banks like Goldman Sachs, JP Morgan and Morgan Stanley would not have survived without this massive liquidity infusion. But even that year when these banks were on the verge of bankruptcy, most bankers received a similar bonus to the previous year. Continued…http://goldswitzerland.com/the-lost-century/

    • On February 1, 2014 at 1:08 pm,
      Big Al says:

      Among others in my opinion 2000!

  9. On February 1, 2014 at 2:24 am,
    Andrew de Berry (Rev) says:

    Thanks Al and Cory as always. There must be a few honest bankers out there who know that the biggest bubble of all, namely the world’s currencies are busy, to use Doug Casey’s term, ‘in search of a pin’. Must blow some of their minds if not their brains. Tragically with the late ’20s in mind three bankers over here have already committed suicide. For as James Turk reminds us the dollar (all currencies) are only money substitutes.

    http://www.businessinsider.com/man-falls-from-london-jp-morgan-building-2014-1

    • On February 1, 2014 at 2:34 am,
      CFS2000 says:

      I think it will turn out that all three of the suicides will turn out to be bankers that have used extreme leverage; made a bad guess as to direction of a price, and are irretrievably in a financial hole. their descendants or their banks are left with the problem.

      • On February 1, 2014 at 2:43 am,
        Andrew de Berry (Rev) says:

        Maybe throwing yourself off a 33 storey building is the coward’s way. Maybe a gesture of reparation, CFS.

        • On February 1, 2014 at 2:59 am,
          CFS2000 says:

          It’s a cowards way out.

          I doubt, however, your thought that bankers may be looking for a pin. For the most part they are getting rich by virtue of proximity to money, and not wish the party to end, alas.

          • On February 1, 2014 at 6:02 am,
            Andrew de Berry (Rev) says:

            Yes but in the very end CGS they are the one’s who suffer. No pockets in shrouds and if you believe in the consequences of karma/sin untold misery for the one who have inflicted so much suffering.

          • On February 1, 2014 at 1:12 pm,
            Big Al says:

            Hey man, as long as the booze is flowing!

        • On February 1, 2014 at 1:11 pm,
          Big Al says:

          Did he throw himself off?

          • On February 1, 2014 at 2:29 pm,
            CFS2000 says:

            THere have been 3 suicides so far.

          • On February 1, 2014 at 4:06 pm,
            Matthew says:

            Unless there were witnesses and/or good indications that suicide was likely, I wouldn’t be so quick to believe the reports.
            I don’t see the logic in calling such a leap cowardly. If a criminal has proven that he has no regard for others, should we consider him brave if he chooses jail over death? I don’t think so.

    • On February 1, 2014 at 1:10 pm,
      Big Al says:

      By the way, Reverend, he lives in London and both he and Margeret play golf!

  10. On February 1, 2014 at 2:28 am,
    CFS2000 says:

    Expanding on my 2.15 a.m. point;
    Gold has the value that people will pay for it:
    What happens if people have relatively little or no fiat currency?
    The necessities of life; food, water, housing, etc., will take higher importance than buying gold.
    In a currency collapse, it is possible that silver, as a day-by-day trading currency on the street, will hold its buying power better than gold. Gold, hopefully, will be a store of wealth, but I that is my hope, not my confirmed guaranteed belief.
    However, this is in an armageddon scenario, which, hopefully won’t happen…….for that fire-power might be a better currency!

    • On February 1, 2014 at 1:13 pm,
      Big Al says:

      And that 2000 is why we have silver.

  11. On February 1, 2014 at 2:40 am,
    Andrew de Berry (Rev) says:

    CFS2k – Buy some Aurums (contain 1 gram of gold, should you choose to melt them down). A far better way surely to barter for food, etc than doing deals with 1 0z coins for instance. On the other hand I have a friend who (seriously) envisages becoming a warlord (ex Commando 42) and who will have no difficulty enlisting 50 fully armed foot-soldiers (my wife and I are included with me as their chaplain!)

    Better still, put your trust in the Lord. Prepare as best you can and leave the whole matter in the hands of God!

    Best, Andrew

    • On February 1, 2014 at 9:59 am,
      Dai Uy says:

      Andrew:

      Your birds of the air scriptural analogy makes sense to me. Let your heart not be troubled etc………………….

      Had never heard of aurum; probably slept during high school chemistry class.

      Went to “aurum” on the website and discovered “karatcards” which I had never heard of either; somewhat akin to a debit card but backed by AU?.

      I have al kinds of questions like 3rd party risk, cost of using etc. etc. and who pays the presumed costs/transaction fees?

      Anyone understand karatcards better than me. Kindly enlighten

      BTW: 50 commandos of little value unless they have access to firearms and ammunition…………………………….

      • On February 1, 2014 at 11:43 am,
        Andrew de Berry (Rev) says:

        Dai Uy I’ve not heard of karatcards either – Tarot maybe? Re Aurums the web address below may be useful. I’ve only bought aurums (10 to date) as more of a novelty than anything. By the way I was unaware of CFS drawing up 50 ex-commandos!!?

        http://www.zerohedge.com/news/2014-01-20/democratizing-gold

        • On February 1, 2014 at 11:45 am,
          Andrew de Berry (Rev) says:

          Sorry Dai I’ve just cottoned on that BTW ain’t CFS at all but stands for ‘by the way’. Doh!

      • On February 1, 2014 at 1:16 pm,
        Big Al says:

        I would be that they are already well stocked, Cougar;!

    • On February 1, 2014 at 12:15 pm,
      Andrew de Berry (Rev) says:

      Correction 1/20th of a gram of gold in each current aurum note. Larger ‘value’ note stand to become available in time.

    • On February 1, 2014 at 1:14 pm,
      Big Al says:

      He may have a point!

  12. On February 1, 2014 at 2:46 am,
    CFS2k says:

    Chuckle, Andrew.
    http://www.telegraph.co.uk/finance/comment/10610504/Two-monetarist-cheers-for-Ben-Bernanke.html

    I wonder if Ambrose will be singing the same song post-collapse?

    • On February 1, 2014 at 6:07 am,
      Andrew de Berry (Rev) says:

      Guys on the Telegraph (even the better ones) get compromised by their lords and masters.

      • On February 1, 2014 at 6:57 am,
        CFS2000 says:

        Andrew, Re. Telegraph pressure. Ain’t that the truth! (I hate to admit it, but Conrad Black was a family friend. He’s a few month’s younger than I am, but he was actually closer to my father (now deceased). One of his secretaries with whom I’m still friendly had to emigrate to New Zealand when the scandal broke.

        • On February 1, 2014 at 7:05 am,
          CFS2000 says:

          Actually, I’d better change my comment about editorial pressure. Evans-Pritchard is both brilliant and well-liked. AND has the ear of most of the movers and shakers of Europe. I don’t think he would be asked to modify his column’s very much. Regrettably I don’t know him personally, but I’ve always liked his work.

          • On February 1, 2014 at 7:39 am,
            Andrew de Berry (Rev) says:

            Interesting to hear that about E-P CFS.

      • On February 1, 2014 at 1:17 pm,
        Big Al says:

        The really good ones should not.

  13. On February 1, 2014 at 2:51 am,
    CFS2k says:

    Andrew, Have you looked at the price of denarii lately?
    I got a shock compared with a couple of years ago prices. Even worn barely discernible emperors coins are now quite expensive.

    • On February 1, 2014 at 6:10 am,
      Andrew de Berry (Rev) says:

      Aren’t denarii coins going back to the time of Jesus? Maybe he touched one or two leaving people to believe that they’re more potent?!

      • On February 1, 2014 at 6:16 am,
        CFS2000 says:

        Andrew,
        and I thought Jesus never touched money, hating such materialistic things.

        • On February 1, 2014 at 7:41 am,
          Andrew de Berry (Rev) says:

          ‘Show me a coin. whose had is on it’?….coin found in the mouth of one of the fish caught by the disciples allowing them to buy bread…parable of the talents, etc

          • On February 1, 2014 at 11:34 am,
            JERRY the Long..................O^OTB says:

            but, did he touch it.?

          • On February 1, 2014 at 11:39 am,
            JERRY the Long..................O^OTB says:

            or when he said to the Pharises …” go, and get a coin,,,who’s picture is on it,,,render unto Caesar , that which is Caesars……”

          • On February 1, 2014 at 12:02 pm,
            Andrew de Berry (Rev) says:

            Wish I’d been there Jerry!

        • On February 1, 2014 at 1:19 pm,
          Big Al says:

          I believe it was the actions and not the medium!

  14. On February 1, 2014 at 3:43 am,
    Bobby says:
  15. On February 1, 2014 at 3:52 am,
    CFS2000 says:

    Thanks, Bobby.
    I had missed that.
    However the discussion has a cart and horse problem.
    A boom does not happen because interest rates are going up.
    Interest rates go up as a response to a boom.

  16. On February 1, 2014 at 4:23 am,
    CFS2000 says:

    A boom can only happen, I would posit, it the taxation drag or damping on the economic system is small.
    Metaphor 1:
    A plant will not grow if it has limit sunlight, fertilizer, and water.
    Metaphor 2:
    Consider a container of water.
    Water flowing in is population growth and productivity growth, plus some smaller factors, such as taxation causing small replacement of water.
    Water flowing out is a hole in the bottom of the container – this is taxation.
    and water flowing out is consumption. (kind of- analogy not exact)

    The economy is the water level.
    To raise the level of water you can have population growth, productivity growth, or taxation reduction. Keynesians would have you believe that taxation putting water back in will work, but it is not 100% efficient.(It is being put back through a very leaky hose)
    Really the only way to stimulate the economy is to decrease taxation.
    And that is a decrease of taxation without borrowing money to maintain spending.
    (Borrowing money is like expanding the size of the container; the larger the cross-section of the container, the harder it is to raise the water level.

    I wish I had graphical capability to draw a picture; a flow diagram to illustrate the analogy!

    • On February 1, 2014 at 1:22 pm,
      Big Al says:

      Great analogy 2000

  17. On February 1, 2014 at 5:43 am,
    Dave says:

    Seriously? What kind of a dumbass question is that? The fact that you even pose the question, show ignorance.

  18. On February 1, 2014 at 7:18 am,
    Dick Tracy says:

    If you consider the risks of living on the west coast of Canada or The US, fukushima fallout being one of them, earthquakes, droughts and possible tsunami’s, as an investor I really don’t think that owning property there is a viable option anymore.

    Two years ago Jim Rogers was recommending people buy real estate in Lincoln Nebraska because of the importance food production will and is now playing, I would agree. DT

  19. On February 1, 2014 at 7:53 am,
    JERRY the Long..................O^OTB says:

    SEG 3……Peter G………in high school ,,and college,,,most jocks were not to smart, why would anyone listen to a retired jock who is broke and has brain damage……..

    • On February 1, 2014 at 1:24 pm,
      Big Al says:

      Simple: “Here is what happened to me. Don’t make the same mistake!”

      • On February 1, 2014 at 1:37 pm,
        JERRY the Long..................O^OTB says:

        In order to not make the same mistake, would require you to be in the same circumstance………..the 70% will remain broke, uneducated, and taken advantage of., most are to young to understand , and see others in their trade a role models…..fast cars, fast women, to much cash,,,,

        • On February 1, 2014 at 3:53 pm,
          Big Al says:

          Sad but probably true Jerry !

  20. On February 1, 2014 at 7:58 am,
    JERRY the Long..................O^OTB says:

    SEG 5………WHO IS A LO^ON…………….

    • On February 1, 2014 at 8:48 am,
      JERRY the Long..................O^OTB says:

      GOLD AS MONEY………..
      .Since gold has gone up 13% a year,,,,,according to the RULE OF 72……..gold will double in 5.5 years………So, in 5.5 years GOLD will be $1250 x 2 = $2500. Then ,,at the same rate of 13 %..and rule , gold money, in 11 years …. WILL BE $5000.
      Continuing the thought……then in another 5.5 YEARS…..GOLD will be $10,000 or 16.5 years from today……..
      Now, the only thing we have to consider is inflation………in 16.5 years from NOW.

      • On February 1, 2014 at 12:35 pm,
        SD Marc says:

        Jerry,
        >>>AND we ACTUALLY own something tangible, trade-able and PRECIOUS…….!

      • On February 1, 2014 at 1:27 pm,
        Big Al says:

        Don’t think so The Short

        • On February 1, 2014 at 1:39 pm,
          JERRY the Long..................O^OTB says:

          think again big Al…………..remember you are an XBANKER

          • On February 1, 2014 at 1:44 pm,
            JERRY the Long..................O^OTB says:

            I am just joking with you…..But, I have to explain the rule of 72 to all the bankers I run into……….they forget how it applies.or what it is……….of course these banker tellers are all salesmen at this point……….

          • On February 1, 2014 at 3:56 pm,
            Big Al says:

            Kind of some different circumstances. Absolutely no guarantee with gold other than it will always be around and will always have value. And that is why we hold it and silver!

    • On February 1, 2014 at 1:25 pm,
      Big Al says:

      Don’t know. What is the reference?

  21. On February 1, 2014 at 8:31 am,
    b says:

    Just listened to the fukashima “story”.
    This story was posted I believe on RT last week. Along with saying there is a 3 cm hole in one of the reacters.

    I think its been decided to “leak” the story, slowly let the people learn just how bad it is. Susuki was right, right from the begining.

    As far as I am concerned, all the Tepco people and the Japanese government people invloved should just be shot and replaced.
    No, nothing like that will happen of course, just what I think, more likely is nothing will happen, and people will do nothing. Thats the tried and true method that most people go with.

    We are going to learn a hard lesson, we are connected. The lesson after that one will be, we cannot kill the earth, the earth will just stop producing.
    Simple really.

    • On February 1, 2014 at 1:28 pm,
      Big Al says:

      Very good point b

  22. On February 1, 2014 at 8:54 am,
    CFS2000 says:

    We do have hydrogen bomb exploding some 93 million miles away, separated by only a vacuum, protected solely by the earth’s magnetism and some ozone and water vapour in the atmosphere.The effect of Fukushima is a raising of radiation levels for the inhabitants of the earth.
    The primary questions should be how to mitigate the effect; by containing the radiation, which may not be possible, or at least, by avoidance of radiation…..e.g. don’t eat salmon without knowing where they came from.

  23. On February 1, 2014 at 8:58 am,
    Dennis M. O'Neil says:

    Re: Ignoring the constitution……..

    Al your generalized question “Why don’t our leaders realize the gravity of the situation….and do something about it?”
    The question assumes the “leaders” have the country’s best interest in mind.
    Why is it that they not only do not get it but they consistently do the exact wrong thing?
    Why do these “leaders” ignore the Constitution to which they took an oath to follow?

    Could it be that our leaders have a different philosophy in mind?
    Could it be they ignore the constitution because they believe “the ends justify the means” trumps the constitution?
    Below are simple oaths required to be entered without evasion by our “leaders”:
    Oath of President as provided in Article II, Section I
    “I do solemnly swear that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States.”
    Congressional oath taken at the beginning of each new Congress….
    “I do solemnly swear that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter.”

    Al…our ‘leaders” in DC might not read the Bills they vote on but they were required to at least mouth the above oaths. It is obvious our leaders are consistently violating their oaths..why? In order not to let a good crisis go to waste they have to first cause a good crisis. When our leaders…consistently ignore the plain language of the Constitution…consistently do the exact wrong thing…could it be their true oath is not to the constitution but to “the ends justify the means”?
    Our founding fathers saw such a day coming and this is why defense of the constitution was to be sworn to from even from the guy standing next to you. The high irony is that “our leaders” have now made policy that suggest the guns of the state should be aimed at defenders of the Constitution.
    The requirement of defense of the Consitution is an affirmative requirement not a passive suggestion.
    So follow this…… our leaders violate their oaths by failing to defend the Constitution and not only do they not get called on this they criminalize those that desire the Constitution to be followed.
    SHOULD it be clear to us is that “our leaders” are enemies of the constitution from which it should be defended?
    Could it be that somewhere along the way there was not only a bloodless coup….there was a coup that no one even bothered to announce?

    • On February 1, 2014 at 1:30 pm,
      Big Al says:

      What a great point Esq!

    • On February 1, 2014 at 6:52 pm,
      b says:

      Eisenhower for one understood the military industrial complex, he understood the fed, he warned the country. JFK tried to free the country.
      His death, was the exclamation point on the coup.

  24. On February 1, 2014 at 9:33 am,
    Dick Tracy says:

    The US in the past liked to think of their country as a melting pot and Canada as a mosaic, I however have never considered The US as a melting pot. They have tried to separate their people along cultural and ethnic lines where in Canada we have integrated our diverse populations into our way of life.

    I do not like the way The US also has built residential gated communities the reason for this is the society has become lawless and they are very worried about security. This was never the case in the past pre Second World War. It is simply another case of ghettoization. DT

    • On February 1, 2014 at 9:59 am,
      PastExpiryDotCom says:

      I hear open-concept ghettos are all the rage!

      • On February 1, 2014 at 10:39 am,
        Dennis M. O'Neil says:

        I am going to buy a VW Van and start a nomadic commune.

    • On February 1, 2014 at 1:37 pm,
      Big Al says:

      Don’t think I would agree. Let’s have that conversation over dinner.

      • On February 1, 2014 at 2:48 pm,
        Dick Tracy says:

        Dennis, I don’t think you should get sucked in by designer names, just do your nomadic thing. DT

        • On February 1, 2014 at 2:48 pm,
          Dick Tracy says:

          Ha, Ha! DT

  25. On February 1, 2014 at 10:06 am,
    CFS2000 says:

    You need to read Victor Davis Hanson’s book “Mexifornia”

    or Melanie Phillips book “Londonistan” about the destruction nature of diversity, leading to no go areas. (There was a time when the ANNUAL murder rate in England was in the low teens, like 15 people murdered per year in the whole country.
    Now it is that per DAY in London.)

    It has been that in Chicago ever since I have lived in Indiana! (over 40 years)

    • On February 1, 2014 at 1:39 pm,
      Big Al says:

      Good point again 2000.

  26. On February 1, 2014 at 10:30 am,
    CFS2000 says:

    For the general stock market, I might point out that there is a January predictor.
    i.e. For a full year, there is a mid-seventies percent probability that the full year will perform in the same direction as January.
    January was a down month.
    That means the odds are in favour of 2014 being a down year.
    While there are reasons why we might have a bump up until April/May, I will always keep in mind the odds from various correlations.

    • On February 1, 2014 at 12:28 pm,
      Gary says:

      CFS,
      Actually the Jan barometer is much more predictive when it’s up. Not so much when stocks are down in January. It’s about 40%. Basically less than a coin flip. Of course since stocks tend to rise about 60-70% of the time the January barometer could be said to predict nothing more than the natural tendency for the market to rise.

  27. On February 1, 2014 at 10:53 am,
    James (the lesser) says:

    If I had to give golds price action last week a grade I would have to give it a “D”

    The reason is simple.

    With the emerging markets starting to signal real problems and the bubble stock market showing signs of cratering gold had every reason to grad the spotlight and once again become the safe haven of choice.

    Instead it failed to gold onto $1270, and far worse gave up $1250.

    I don’t like having to refight battles and that is what gold must do now.

    I said a few years ago gold was “dead on the board” and it still is.

    I think what I am going to do now is set my alarm to wake me up when gold either gets to $1050 or $1700 whichever comes first.

    It could be a very long nap though. Kind of like Rip Van Winkle.

    Who’s to say?

    It could go down. It could go up.

    A groundhog has better chance prognosticating when spring will arrive tomorrow than anyone knows where gold is going.

    If it goes to $1050 I’ll buy more. If it goes to $1700 I might just bail and get out of this mess.

    I don’t need to wait for $1900, I’ll take my money and run

    • On February 2, 2014 at 9:29 am,
      HEAVYHITTER says:

      I give GOLD an……A

      Markets are suppose to fool everyone.

      Its doing a good job.

  28. On February 1, 2014 at 11:00 am,
    CFS2000 says:

    Thought for the Day:
    The Super Bowl is tomorrow.
    (No that’s not the whole thought)
    Consider Peyton Manning income tax bill for New Jersey taxes ONLY.
    If Manning wins he gets paid $92K and pays $46,949 in NJ taxes. + federal taxes.
    Now if he loses, he gets paid $46K,
    but, because of a bracket change, he pays $46,844 in NJ taxes. 101.83%.
    plus federal taxes.

    1. That is an incentive to WIN.
    2. That is excessive taxation and motivation, other things being equal, not even to show up.
    (I hope he will donate to charity to drop back down into the lower bracket)

    • On February 1, 2014 at 11:24 am,
      Dennis M. O'Neil says:

      That has to be wrong somehow.
      Even a dumb slave owner has a few chain links between the ball and ankle bracelet.
      “Show me some slack!” New Jersey!

  29. On February 1, 2014 at 12:01 pm,
    HEAVYHITTER says:

    Go listen to James Dines on King World.

    He had a buy signal at 250 gold and sell on it in 2012.

    Before that had a buy st 35 bucks on gold.

    Now another buy signal.

    JAMES DINES…is the CREME DE LA CREME……ORIGINAL GOLD BUG

    Says 3000 to 5000 gold coming…..lots of reasons…go listen to him.

    • On February 1, 2014 at 12:19 pm,
      JERRY the Long..................O^OTB says:

      would they call that …..THIRD TIMES A CHARM………….or Two out of Three ain’t Bad..

      • On February 1, 2014 at 12:26 pm,
        HEAVYHITTER says:

        Jerry…..

        James Dines has your back…buddy

        Got me a few more wooden nickels over the years.

    • On February 1, 2014 at 1:43 pm,
      Big Al says:

      Eventually maybe, but definitely not in my lifetime.

  30. On February 1, 2014 at 12:24 pm,
    CFS2000 says:

    Plus Mr. Dines has the sense to live in the Bay Area.

    • On February 1, 2014 at 12:31 pm,
      HEAVYHITTER says:

      Right now Dines Is investing in 3D PRINTING.

      Thats the new internet type boom coming.

      New class of billionaires will be created.

      Whats happening will blow your mind.

    • On February 1, 2014 at 1:44 pm,
      Big Al says:

      Sense to live in The Bay Area??

      • On February 1, 2014 at 2:10 pm,
        CFS2000 says:

        So, he lives on the south side, I think. Never been to his home.
        Great vibrancy of life there……must be because the average age seems to be in the thirties!
        How about Rick Rule? Does he live in the South Bay area? There’s a billionaire who clearly does not HAVE to work.
        Robert Friedland is my idol in the mining business (love his dry sense of humor);
        http://www.forbes.com/2005/02/28/cx_sc_0228how.html
        shows just one of his homes!
        Darn.
        Now I’m feeling homesick for California. Think I head there next week.

        I prefer the wine country and have a very modest property there.
        But as long as you are inland a few miles, anywhere in the Bay area, the weather is just about perfect.

        • On February 1, 2014 at 4:00 pm,
          Big Al says:

          I would agree.

          Rick is around San Diego and James I believe is in Marin.

          • On February 1, 2014 at 5:16 pm,
            CFS2000 says:

            I did not realise RIck was in Puplava’s neighborhood; I thought he was in Silicon Valley, where the money really is. His precision with words always reminds me of some of the Stanford grads.

  31. On February 1, 2014 at 12:36 pm,
    CFS2000 says:

    Dines has been plugging 3D printing for over a year, DDD and ONVO being touted the most.

    Jeff Christian (Managing director of CPM Group) has been a bear with regards to gold for as long as I can remember.
    He is suggesting $1300 next month because of short covering and $1800 this year.
    Note: This year and not year end.

    • On February 1, 2014 at 12:41 pm,
      JERRY the Long..................O^OTB says:

      I read the same……So, why the turn around with Jeff C…. is there something fishy with this story?

      • On February 1, 2014 at 12:58 pm,
        HEAVYHITTER says:

        You guys can all 3D PRINT your way to

        IMMORTALITY

        Seriously. ……no bull…….but I warn you….your bills will keep coming in forever

        No….there is no rest for the wicked

        • On February 1, 2014 at 1:05 pm,
          JERRY the Long..................O^OTB says:

          HH……….remember,,,,,we are all sinners…..But, we are all to work,,,remember,,but , it does say with our hands…………..does that mean pressing on the typing keys……….?

          • On February 1, 2014 at 1:13 pm,
            HEAVYHITTER says:

            Jerry…..when your retired…….we have an excuse

            OLD SAYING….still applies today

            OLD GUYS RULE…….just ask The General…..

          • On February 1, 2014 at 1:25 pm,
            JERRY the Long..................O^OTB says:

            I have been retired for a number of years…….but, there is no mention of retirement in the BIBLE…………………

          • On February 1, 2014 at 1:41 pm,
            HEAVYHITTER says:

            The Lord knows are abilities.

            You pay your dues and there is no sin in it.

            When you get old…just living is work.

            Sometimes ya have to…..CALL IT IN !

          • On February 1, 2014 at 1:51 pm,
            JERRY the Long..................O^OTB says:

            there are no limitations with the Lord.
            so,a man thinkth in his heart,
            you are only as old as you think……….
            You will not know the hour or the day

          • On February 1, 2014 at 2:05 pm,
            HEAVYHITTER says:

            Also….I have no desire only for my necessities. …..

            I do my best to stay clear of the pride of life and lusting after the things of this
            World.

            Money and lust is where all……………..ALL THE PROBLEMS START.

            Hands on experience is the best teacher. PURDY MUCH DONE IT ALL

            HAD IT ALL…….Its like Jesus says….they are miserable with it.

            Its all a big illusion and a foolish ego ttrip. YOU WILL ALWAYS THIRST FOR MORE

            And all these things get old too. You gotta keep buying it. …….HA

            Material things are as bad as any other sin. No one talks sbout it.

            Pastors incl. But can beat up on the gays and druggies…etc.

            Here they are living a carnal lifestyle themselves in sin.

          • On February 1, 2014 at 2:10 pm,
            HEAVYHITTER says:

            Jerry…try working if you sre very ill.

            Have health conditions.

            Then make those statements.

          • On February 1, 2014 at 3:43 pm,
            JERRY the Long..................O^OTB says:

            there is a time and a place for everything…under the sun…..

        • On February 1, 2014 at 6:27 pm,
          Dick says:

          Jimmy D don’t need not stinkin’ 3D printer! 🙂

          Heck, look at ’em. Not a gray hair on his head.

          And he’s what 90 or 100? He looks 35! 8)

      • On February 1, 2014 at 4:01 pm,
        Big Al says:

        Jeff C?

    • On February 1, 2014 at 1:45 pm,
      Big Al says:

      Trust me, Jeff is not stupid!

    • On February 1, 2014 at 2:15 pm,
      Dick says:

      Jimmy D had an interview on KWN the other day.

  32. On February 1, 2014 at 1:47 pm,
    Big Al says:

    YES OLD GUYS DO RULE

  33. On February 1, 2014 at 2:16 pm,
    Dick says:

    Is Doc Postman really a doctor? What specialty? Can he recommend a good eye doc in Idaho?

    • On February 1, 2014 at 4:05 pm,
      Big Al says:

      He is really a doctor.

  34. On February 1, 2014 at 2:27 pm,
    Dick says:

    re: pelosi Someone really needs to talk some sense into Jay Taylor

    • On February 1, 2014 at 4:06 pm,
      Big Al says:

      He was joking!

  35. On February 1, 2014 at 3:09 pm,
    Dick Tracy says:

    I believe you have lost a lot of the meaning of life when you live in a gated community what you are really saying is I don’t trust my society anymore unless I am living with people who are like minded and have a similar background, that is something people want to ignore who do this. DT

  36. On February 1, 2014 at 4:07 pm,
    Big Al says:

    AliceFazulis Sunday night during Pedac?

    • On February 1, 2014 at 5:08 pm,
      Dick says:

      Speak English, please.

      • On February 2, 2014 at 10:24 am,
        CFS2000 says:

        PDAC……look at top of this page

  37. On February 1, 2014 at 6:25 pm,
    CFS2000 says:

    For the month of January Shanghai is reporting a movement of 216 t of gold into China.

  38. On February 1, 2014 at 6:31 pm,
    CFS2000 says:

    By the end of the month of January, the rate of movement of gold through the Shanghai Gold Exchange exceed the rate of world wide gold production, but this is the period of Chinese New Year, so movement may decrease going forward.

  39. On February 1, 2014 at 6:33 pm,
    CFS2000 says:

    This is a Paper by Paul Craig Roberts and Dave Kransler on Fed Tapering.
    http://www.paulcraigroberts.org/2014/01/30/fed-tapering/

    Must Read

    • On February 1, 2014 at 7:30 pm,
      JERRY the Long..................O^OTB says:

      I suggested that yesterday….thought it was a good read………

      • On February 1, 2014 at 7:34 pm,
        JERRY the Long..................O^OTB says:

        just got done reading some of the info at zerohedge…….thanks for the mention…

  40. On February 1, 2014 at 6:40 pm,
    CFS2000 says:

    Out of London comes the following commentary:
    Emerging markets, interest rates and tapering
    By Alasdair Macleod
    Posted 31 January 2014
    Thanks to the Fed’s tapering, a wider public is becoming aware of currency instability in diverse economies, from Turkey to Argentina, and India to Indonesia. Indeed, on Tuesday night Turkey raised overnight interest rates by a whopping 4.5% to 12% in an attempt to stop a run on the lira.

    Turkey has her own political problems, perhaps strong enough to knock the stuffing out of her currency on their own, and Argentina seems to be permanently fighting off hyperinflation. But it is a mistake to think that the idiosyncrasies of each currency are solely the cause of their downfall. The fact that these countries’ currency problems are all happening at the same time tells us the common factor is currency itself.
    Over the last decade it has been fashionable to invest increasing quantities of money in these economies. Financial flows have also been instrumental in accelerating the growth of local domestic credit. Money flows are now in the process of reverting back to base and the chart below of the Indian rupee is a good example in which this effect on a currency can be observed.
    india/US foreign exchange rate
    Between 2002 and 2008 the rupee rose against the dollar (i.e. fewer to the dollar) reflecting inward investment, and after the Lehman Crisis it started to fall as the money-tide reversed. Since then the rupee has lost almost 40% of its value. It is also clear from this chart that the primary trend for the rupee has been firmly down for some time.
    The same is true of most other emerging market currencies: before the Lehman Crisis investment flows into them fuelled both economic growth and the expansion of bank credit. Since Lehman, these flows have reversed mostly offset by yet more expansion of domestic credit.
    Over much of the last century US dollar cash and deposits expanded on the back of a gold standard; in the same way today’s emerging markets have expanded on the back of a dollar standard. Therefore, the redemption of these currencies into the US dollar mirrors pre-WW1 bank runs, except on a global scale. And In every bank run a bank pretends there is no problem until it is too late.
    Central banks cannot escape the fact that currencies depend entirely on confidence. Markets are now painfully reminding us of this truism, following the Fed’s second tapering announcement. A whisper in New York becomes a storm in Delhi, Ankara, Sao Paulo, Buenos Aires and Pretoria.
    It is an important point. In the same way that under a gold standard a central bank had to have sufficient gold stocks to maintain confidence in its currency, an emerging market central bank has to have sufficient dollar reserves on hand. And this is why from a monetary perspective a desperate central bank is compelled to increase interest rates when Keynesian text books tell us such a move is certain to drive these economies into a deflationary slump.
    The screw is now tightening. Having added unprecedented amounts of liquidity into its own economy through quantitative easing, the Fed is now reducing the pace of its expansion of narrow money. Unfortunately this is bad news for emerging market countries, who will surely conclude that international monetary co-operation has broken down.

  41. On February 1, 2014 at 6:46 pm,
    CFS2000 says:

    There are a number of papers over at zerohedge.com worth reading.

  42. On February 1, 2014 at 7:15 pm,
    HEAVYHITTER says:

    China…..sure….and why not buy as much gold as you can with

    FUNNY MONEY

    My take some more downs and ups…..patience…..stocks are most likely in bear.

    Gold loves stock bears. All patience.

  43. On February 1, 2014 at 7:16 pm,
    Dennis M. O'Neil says:

    Groundhogs Day Rally!

  44. On February 2, 2014 at 4:04 am,
    Joe says:

    The United States has not been a free market since the war between the states and any belief that we have is just a illusion. The USA was recreated that is what the Hamitionians wanted to do . That is what gave us the Federal over the States , the Central Banking . . Paper money, the squashing of Nullification at every level, war against all those who defied our own mercantilism. This is why I say America is gone , The U S is all that remains . I would take a whole philisophical change a much pain to go back to the system our founders once laid out . My recommendation to all those who even remotely care is this . NO CONSENT TO GOVERNMENT, quit voting don’t encourage them to do more harm!

    • On February 2, 2014 at 6:58 am,
      HEAVYHITTER says:

      Maybe you won’t have be concerned about it anymore.

      The way things are going this civilization could go back to

      THE DARK AGES

      If not, we are going very quickly now into one world currency, leader and government.

      Regardless, that too…will all collapse within a few years.

      The slope is a permanent. …..SLIPPERY SLOPE….all the way down to the bottom