Financial Issues and Market Activities this past week
Hour 1:
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Hour 2:
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Given the market activities this past week, we have devoted most of the show to financial issues.
Hour 1:
- Segment 1: Peter Boockvar, Chief Market Analyst for The Lindsey Group gives his views of the Fed.
- Segment 2: Peter Boockvar comes back to discuss gold and silver.
- Segment 3: Lawrence Roulston of Resource Opportunities feels like a kid in a candy story when he is investing in the junior mining sector.
- Segment 4: Bob Moriarty of 321 Gold discusses politics.
- Segment 5: Bron Suchecki of The Perth Mint discusses China and Gold
- Segment 6: Thibaut Lepouttre of Caesars Report discusses why he Junior Mining Sector.
- Segment 7: Our expert panel of Rick Ackerman of Rick’s Picks, Richard Postma, AKA Doc, and Gary Savage, of Smart Money Tracker, discusses inflation and deflation
- Segment 8: Ross Norman, CEO of Sharps Pixley discusses macro economic issues regarding gold.
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Professor, I don’t believe there is an alternative. I could argue that quite convincingly on a mid term.
Peter Boockvar is spot on! He is VERY WELL spoken!
Agree Marc
Sadly, so.
CFS, Agreed!
Segment 2: I believe Eric Sprott to be best informed.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2014/3/15_Eric_Sprott_files/Eric%20Sprott%203%3A15%3A2014.mp3
There are a lot folks out there who are spot on.
Al/Cory:
The AIS Price Fixing Lawsuit we discussed discussed last week on your show, is not going away.
Eric Sprott wants to join the class action in several brief articles he posted today as well as a video on King World News stating that if he can’t because of his Nationality, he will probably file his own class action against the same 5 major Defendant Banks.
Like CFS, when Sprott speaks, I listen. The stakes are incredibly high.
The GATA website is also now posting similar articles.
I will also call Murph.
I seriously hope that Eric does just that. I will be calling him tomorrow. Thanks for the heads up.
I don’t know how far silver can go up this year. It has gone into surplus and that will only increase through the year. Also those comments by Brau Sucheki were very revealing about Chinese gold sales. Nobody here commented on that because it defies the new narrative that gold must rise. But look at what is really happening. Braun tells us that people are using this new price strength to exit gold. He is not seeing new buying coming in. So that is not bullish. We must stick to the facts people. If short covering is all that is really moving gold right now it will not sustain itself. That tells me prices will correct down. How can we get a golden cross with those headwinds or the start of a new bull market? Even if we do get a golden cross it might just be another head fake that pulls in the last of the bulls before the rug gets pulled out from under them again.
You guys don’t get the REAL purpose of the Fed.
It’s only, repeat ONLY, purpose is to provide money for Government excess spending.
You really are too gullible in believing what you are told.
It says its purpose is to stabilize the dollar, Ha! Just how stable has the dollar been in the last 100 years (in losing 97%)
It says it can decrease unemployment.
Ha! How effective has that been during Obama’s reign?
Observe the facts, not the what is said.
That is an interesting take on that issue.
Segment 4: Big Al, I thought you promised to ask Bob about the Exchange Stabilization Fund. I know how big it is and what it is doing. You need to discuss it.
Daily Editorial today.
The reason that the Ukraine is so dangerous is that you have a coup engineered by the West, followed by an invasion engineered if not justified by Moscow.
Presumably Sec of State Kerry belongs to those U.S. neo-cons who choose to force home their brand of ‘democracy’ at any price, regardless of whatever double-speak they use to do so. To put it kindly this renders Obama and his advisers as not just twentieth century fools but belonging to a league of hypocrisy, second to none. Bob Moriarty recently compared Obama to a marble playing amateur in contrast to Putin the poker expert. The trouble is that Putin longs for an enlarged Russia, whereby to use another metaphor about him as the wrestler, he knows how to use the strength of an opponent against itself. For as everyone can see he’s running circles around Obama, something the U.S. hawks won’t take kindly to.
Putin is a way more subtle despot than Hitler who blatantly annexed Sudenland, Poland and Alsace Lorraine, on the pretext of their past Germanic ties. For with Crimea a third of whose population are either Tatars or Ukrainian and thus pro West, the disguised Russian presence now in place there guarantees that tomorrow’s referendum will be a shoe-in. So naturally the Russian government will only respond to the outcome of that referendum!
Going on from there I have a Latvian friend who says that 45% of Latvians are Russian speaking, as are significant numbers of Estonians and Lithuanians. Might they like those Russian speaking Crimeans represent another fifth column?
For with both the West and East pursuing duplicity and cunning in equal measure this thing is far from over, meaning that ‘sadly’ PMs will go much higher, starting this Monday.
Rev: I fear the Tartars will be losing again.
Naturally the U.S. is only taking ‘defensive’ measures by sending twelve F.16 fighter jets to Poland along with the destroyer USS Thruxton now inside the Black Sea.
Baiting them like some tethered goat The U.S. is simply itching for the Russians to retaliate.
I have to say Reverend, I totally do not understand the actions of our country’s leaders.
Having known my share of politicians I can give you all a pretty good idea of what Kerry is doing over there……it is called negotiations and horse trading. They have got to put some heat to the feet of Putin to be credible though. The public has to believe it is serious. At the end of the day some or all of Ukraine gets sacrificed but a deal is cut elsewhere that matters more to US interests. Take your pick from the list of problems on the burner where they need Russian support or at the minimum an agreement not to intercede. Because Ukraine is a big deal Russia will therefore make quite a few concessions. This one is expensive. It WON’T be in the newspapers.
A lot of important things never do make the newspapers! Although given the internet, that is getting to be less and less the case.
Reverend, I completely agree with all of your comments.
Referend, has Latvia a Militaryport? Was Latvia ever give to another Country as a “Gift” by a “Betreitor” like Chruschow? 45% are not 60% and Russians speaking is not Russian! In the East of Germany you will find 90% russian speaking (Age 40 and older), so what?
All These Points are not the Reason for Intervention!
Thanks for the observation Mike. Let’s hope you’re right.
Just so you know about the ESF:
This is a slush fund used by the US Treasury to manipulate the markets. Its exact size, I do not know, except it is larger than $200 Billion.
Segment 8: GLD increased its inventory by 3.29 tonnes on Friday.
Seg 7: Cash, I am surprised you are not all over this! No mention of Stagflation?, feds job of curbing deflation, etc. Gary is a dreamer, Rick is more observant, Doc, yes a politician for sure. Time for a course in economics.
Look at the falling LEI’s for you answers.
Bobby, Of 7 LEIs I follow, 4 are saying up, 3 are saying down, for economy/ stock maket.
The LEIs have been dropping…. could easily be 2 up: 5 down in a week or two.
You follow LEI’s too? Oh my God we are boring people!
All one needs to do is look at recent history. The Feds response to the housing collapse was to print. It created an extreme inflationary event in 2008. That collapsed the economy and led to a sharp deflationary event.
The Fed is doing the same thing, they will get the same outcome.
The government has moved debt onto the public balance sheet. The reason this isn’t deflationary is because governments can print money.
Deflationists need to just look at history. Other than the brief period in 2008/09 we have never had a deflation since the world exited sound money. I would also point out that Bernanke stopped the deflation in it’s tracks with QE1.
In a purely fiat world deflation is a myth that can never happen unless a government chooses to let it happen.
Heck if a government is willing to destroy their currency they could simply mail checks for any amount to the population and retire any and all debts. Impossible you say? What do you think the rebate checks were in 2008? The was a pure Bernanke helicopter drop. Not coincidentally that was right before the price of gas spiked over $4.00 causing the economy to collapse.
I know it’s sexy to postulate that the 1930’s conditions are here again. But it’s just not the case. In the 30’s the money supply was constricted because the dollar was backed by gold. That is the reason we had deflation in the 30’s. It is the only reason we had deflation in the 30’s. Once Roosevelt revalued the price of gold he stopped deflation in its tracks.
In our purely fiat world deflation will only come briefly during sharp recessions and will be aborted quickly with the printing press just like it was in 2009.
The printing press can’t create jobs. That can only come when a new industry and new technologies come on line. The invention of the personal computer and internet brought us out of the secular bear market in the 70’s and early 80’s. Sooner or later biotech will bring us out of the secular bear market of the 2000’s and 2000 teens.
Great post Gary. Sounding good man. I enjoy a long read!
Sharps-Pixley produces gold bars, buy\t in my experience Sovereigns and Krugerands are the most common vehicles for goldseen in the UK,
Wiyhout fanfare this week the Obamination illegally changed his Obamacare law by changing regulations.
The individual mandate was modified by a hardship exemption clause
This essential guts the law, if only people knew.
Some of the Hardship exemptions:
If you had a death of a close relative; you could be exempt from having to buy Obamacare.
If you experienced a fire or a flood you could be exempt from buying Obamacare.
If you have declared bankruptcy, you could be exempt from buying Obamacare.
If you have received a utility shut-off notice, you could be exempt from buying )bamacare.
If you have received medical bills you could not pay, you could be exempt from Obamacare.
etc.
He will do whatever is necessary in order not to lose in the fall election. But hopefully he or rather his stooges will.
Yep, I do hope that the R’s do better.
I think the Republicans are just a different brand of incompetents unfortunately with a different group of cronies.
Agree with that! One of the few different is a Ron Paul. Unfortunately he retired, and Americans were too stupid to realize how smart he is, and how needed he was. Perhaps it would have been too late anyway for a Ron Paul to make a difference.
I don’t think that it would have been too late for him to make a difference Derek. He was getting stronger and stronger among the younger people.
Kerry is an embarrassment; and I don’t think Hitlery would do any better.
Not a great speaker PastExpiry
The biggest failure of leadership in the Ukraine is the European Union. Merkel, Cameron, etc, should have publicly said to Obama, ‘thanks for the offer of help, but we’ll deal with it.’ That way with the 100th anniversary of WW1this year, calmer heads might prevail. The fact that they haven’t proves the lie that the EU has any impact on peace or the lack of it in Europe. I just can’t imagine what Obama would say, if the EU for example at random decided to intervene in Mexico or Cuba etc…I mean why would they. The US may regard itself as the policeman of the world and maybe it was for a time but now I’m afraid it’s just a nasty global protection racket – such a shame when the constitution, however flawed is still magnificent and should have prevented this.
Yep, not sure why the administration is taking the action it is taking. Maybe just like a rooster in the chicken yard only it is in someone else’s chicken coop.
NIGEL . Strike policeman…..add in ..”BULLY”
COUNTERFEIT CULTURE
Next time you say “I’ll have fries with that.” Do you have to worry about counterfeits? When you reach for the Ketchup or Catsup are you being robbed? Most in this forum understand the fraud of counterfeiting currency….could there be profits to be had in counterfeit Ketchup? Apparently so…..a link that makes you think follows….read and make sure to play the video at the bottom. Counterfeit Olive Oil…Saffron….Honey. What is the world coming to? And just think Ketchup is a counterfeit of a Chinese fish sauce “ke-tsiap”.So when your fries are coated in counterfeit Ketchup then you are eating a counterfeit of a counterfeit. And to top that off…… you paid for it with counterfeit.
http://shine.yahoo.com/shine-food/ketchup-real-thing-might-not-182900085.html
Is nothing sacred?
I afraid my bible may be a bootleg.
What if my Cool Whip is really an imitation of the imitation whipped cream?
What if my Preparation H Ointment has been debased?
What if my Cialis is not real when I go see Alice?
What if the world is coming to an end?
In a world where debt is mistaken for money things are just the opposite of what they are perceived to be.
Counterfeit currency corrupts completely.
We live in a counterfeit culture.
Some products have not been what you think they are made of for centuries.
For example; a well-known english jam maker used to put approx 20% of root vegetables into its “pure strawberry jam” 60 years ago, but it was one of the best tasting strawberry jams, provided to King George VI andsold at the best high class stores.
Or Travel Turkey and the middle east and kids will run up as you get off a long distance bus hawking 3 small bags of saffron for a dollar. It’s not saffron crocus stamens, just crocus stamens and although you have to use 4 times as much as proper saffron, it’s still pretty good.
Otravel through China; there are stalls selling all kinds off brand name looking goods, with and without brand names, selling at fractions of what they cost back in US or Europe. Some are indistinguishable from the real thing (may even be the real thing) Caveat Emptor.
Caveat Emptor in everything Professor. At least in this day and age!
Not only are products counterfeit our culture has been debased.
Serial monogamy now passes as fidelity.
Birth control unleashes raw desire and controls nothing.
Sex without consequence is a modern offering of the counterfeit culture.
When you debase a culture’s money you must debase the culture itself in order for the currency not to be rejected. This monetary mayhem fiscal fiasco will end when the psychology of the debased currency is recognized. However, if the currency is just another in a long list of counterfeits then why not accept it. It becomes just another fraud on a long list. Our culture has been taught to accept what is debased as being chaste and pure. The sleight of hand causes us to accept the trick as being a genuine treat. A sucker being born every minute was not a reference to a babies tendency while breast feeding.
I will repeat something I learned a long time ago from Jay. “A debased currency is a sure sign of debased moral values.” Ain’t that the truth!
But if a debased currency results in shorter skirts then I will sign on for Keynsianism!
I see it over here all the time, CFS. Absolutely everything you might desire is available in counterfeit. I had no idea the racket was so big. From tools and apparel to light fixtures, laptop components, cell phones, auto parts and on and on. I might have mentioned this before….can’t recall. Anyway some of the big tool manufacturers are finally fighting back in Africa. They have online verification systems that confirm the validity of serial numbers. So you can check before you buy. The counterfeits are so damn good there is often no other way to know. Bosch Tools is one that is taking this seriously since the Chinese had been doing such big business underselling them and ripping off their brand and trademarks. I bought a cordless drill that way. My warranty was confirmed online. Very nice. Makita has no such system though. They are getting royally screwed because they are the biggest selling toolmaker and all of it is knockoffs and forgeries!
Somehow….. to me counterfeit food is more concerning than counterfeit hand tools.
I mean to think that someone is replacing my homogenized corn syrup with something that will mimick what is already mimicking can sugar……this alarms me.
How is a dietician plan a meal when it is comprised of contraband.
Makes me think of “Soyent Green”.
I agree, Dennis. Your comment was really interesting to me. I just never got around to responding to it yet. Actually I was kind of shocked by what you were saying. What a nightmare it will be in the future trying sort labels out. I mean we already contend with irradiation, GMO, radiation threats, mad cow, bird flu, animals we eat that were literally fed garbage and recycled human waste. The list just goes on and on. Now we have fake condiments too! Holy crow…..how can that even be profitable? But we have all been conditioned to these pseudo-foods. Recall the debates over sugar substitutes, egg substitutes, artificial flavoring and even fake cheese that is more plastic than dairy. And who does not drink that non-dairy creamer powder in instant coffee? It is delicious even if it is all oil and sugar. Anyway, thanks for the links. This is just nuts. But we are what we eat. Did you follow the links I left on Moringa by the way. We sure need a lot more of that in our lives.
Fake creamer drives me crazy!
Good point!
I did not realize this was an issue in Africa.
It is really unbelievable Al. We needed a generator for backup power at one point because the electric supply was so unreliable at our house. The markets are just full of forgeries that look perfect though. These are expensive items too. But there is a factory somewhere in China or India cranking them out in vast quantities. It takes millions of dollars to set up those kinds of facilities so this is obviously a really a big business serving the developing world that usually can not afford the real deal. My Levi’s and GWG’s are perfect carbon copies of the real McCoy for a fraction of the cost. Same with Nike’s, Reebok’s, Tilly, The North Face and so many others. The biggest problem though is counterfeit medications. Most of it is crap and it is sold everywhere. Anti-biotics that have no anti-biotics are one example. Just sugar pills. And then there are the knock off batteries. You really have to be careful what you buy. There is an active carry trade buying counterfeit tools here and then shipping them out to Western markets. I mean guys will buy the forgeries here and then take them home to resell on Ebay. I have heard It is so lucrative that it often pays your flight. The buyer has absolutely no idea they got swindled. You can’t tell the difference.
The big concern to me would definitely be the meds. I mean knock off golf clubs will not kill you!
Have you ever checked the label on “plum sauce”? It’s pumpkin! No plums at all.
Seriously Rusty?
Esquire…good, very good!
Thanks Marc!
That is an edit of a previous post On October 20, 2012 at 9:51 am.
I absolutely LOVE Moriarty! Comparing John Kerry with a whore house is so appropriate
! The whole political apparatus of the US administration is completely bereft of reason and morality and will result in instability through the world.
I think that the reason it could result in instability is that the level of respect in the international community has probably fallen. Sad commentary!
I too love the color provided by Bob M.
Al, the ability of leftest communist progressives to push aside reasonable questions and doubts to their ideology is becoming monumental. They dismiss any pronouncements by conservative’s, not because of real sound reasons but because of real out of control emotions. Their idelogy supersedes any reasonable argument to the contrary. Soon their ability to overcome all arguments against their their idealogy will be seen for what it is. Lies, distortions, smoke screens, and attempts to dissuade the public from using their reason and intelect.
That’s what happens with no apparently-visible questioning viable press.
The public is entertained with its circuses.
And don’t forget the cake!
I do agree LGC, but by that time their team will have twice as many members as ours. We all ready are hard pressed to beat them in a national election. Let’s hope that this year proves me wrong.
WHAT WERE WE TYPING ABOUT A YEAR AGO?
On March 16, 2013 at 7:06 am,
Dennis M. O’Neil says:
BUCKET BRIGADE……BEING BRAVE IN THE FACE OF FIRE AND EVIL –
Evil lies and pretends to be powerful.
The thought of the recent prayer breakfast comes to mind.
Part of being a thug is to puff your chest and bluff to get your way.
But when evil is confronted head on the illusion of power is destroyed.
Truth to evil is like the water hitting the wicked witch.
“I am melting!”
Although the bully is a coward……the coward talks a good game……but when
the bully bluff is called…..he and his minions will soon scurry away.
A lot can be learned from a simple L. Frank Baum scene:
Wicked Witch: “The last to go will see the first three go before her”
(Terror voiced to incapacitate the listener/audience with stark fear)
Piling on “And her mangy little dog too!”
Wicked Witch: “How about some fire scare crow!”
(A violent act directed at the most vulnerable designed to further incapacitate the others with fear)
Scarecrow (Jumping up and down) OH No!!!! Oh!!!! Help!!!! I’m burning!!!! I’m burning!!!! I’m Burning!!!help!!!!
Dorothy acts while the Scarecrow panics ….the others coward as the witch thrives in her evil.
Wicked Witch….(Is surprised at Dorothy’s bravery in the face of her terror) “Don’t throw that water!!!”
Dorothy ignores the evil witch….. defies her continuing her act of goodness. She dowses the fire and splashing the witch.
Wicked Witch: “Ah!!!your cursed brat!!!!!!!Look what you’ve done I’m melting!!!!! Melting!!!!
!!!!! Awww What a world!!!!! What a world!!!!!Who would have thought a good little girl like you could destroy my beautiful wickedness!!!! AHHHHH!!! Look out!!! Look out!!!! I’m going!!!!!!Ahhh! !! Ahhhhhhhh!!!!!!!!!!!”
Guard: “She’s……She’s dead!!!!You’ve Killed her.”
Dorothy “I didn’t mean to kill her! Really I didn’t… It is just he was on fire.”
Guard “Hail to Dorothy! The Wicked Witch is dead!”
Dorothy’s act of brave kindness liberates those enslaved by fear.
http://www.youtube.com/watch?v=aopdD9Cu-So
The same could be said of Dr. Ben Carson speaking truth to the ever intimidating Obama. It was a simple truthful speech. It was also brave for him to deliver the speech feet away from the source of so much politically correct coercion. But he picked up the bucket of water and acted true to himself. The same could be said a year ago when Dr. Paul questioned Ben Bernanke with Silver Eagle in hand. Sure at that moment silver spot was slammed 10% but the truth hurts and will prevail. All we need is a bucket brigade.
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Thanks Dennis.
That speech resulted in me buying the movie about him; buying two of his books; and, now supporting him in all ways possible.
Ditto Dennis. Unmask the bully and you’ve always got a coward!
I learned that 60 years ago. If not a coward at least a very unhappy person!
Peter B…is confirming what we have been saying for years………j the long………..ootb
concerning gold, silver and the FED…………
I was listening last night to Coast TO Coast Radio……….They were interviewing a book author, who has written on the subject of the FED,the dead bankers, and the missing Ft. Knox GOLD.
He mentioned the recent deaths of the 20 some bankers,and this was not new….. Going back to 1974, a daughter or granddaughter of one of the FED. RESERVE BANKS board members named ….MR. HOUSE, told his granddaughter or daughter that the GOLD IN FT. KNOX was shipped to Rothchild(or JPMORGAN) in 1974….,AFTER the daughter had mentioned to some news reporters concerning the information she had received from her father or grandfather concerning the GOLD SHIPPMENT……Three days later,,…..she mysteriously jumped out of the window.
He(the author) was tying this to the recent activities of the banksters and the on going gold manipulation, and the reason there has been no gold audit of Knox..
I thought this to be of interest, since, we have been saying THERE IS NO GOLD IN KNOX for the last several years………He also , mentioned the activities of the banksters, that all the recent uprisings in LIBIA, EGYPT, IRAQ,….Recent gold transfer of Ukraine, have be stolen. He also, Mentioned BUSH Sr. was sold a GOLD MINE IN UTAH..that BARRICK owned for $10,000…..
Who knows………..but, would not surprise me one bit…………OOTB…………
Quite imitating my friend Jerry, Owl!
Rick mentioned there is a trillion cubic feet of natural gas found near Israel? Wow. First I have heard of it. That is really incredible. Not long ago I recall there was talk of Israel buying Nile river water by pipeline from the mouth of the river where it enters the sea. That would be fresh water that nobody is using as it just flows into the Med and it is perfect for irrigation even if it may be unfit for human consumption (the nile is filthy at its terminus due to heavy pollution all down stream). Anyway, Egypt is now a natural gas importer. Seems to me there is a trade here where gas flows one way and water flows the other. Economic linkages like that are productive for all. Just a thought for the day.
Not a big deal, but I find your voice to be clear and understandable. It is usually the best voice on your program. I do catch a bit of a Canadian acent, now and then, with your “aboot”, but I suppose that could come from living close to the border.
Isn’t that how you pronounce “about”?
Segment 1: I don’t believe there are bond vigilantes anymore,
. I think the Fed will print until the dollar is killed.