Here is the answer, Dale
Click download link to listen on this device: Download Show
Very sorry about the audio quality. I am in a bit of a hurry right now and I used a different program to record the audio.
Ditto bb. Al. It strikes me you have some come onto this site who are just plain pissed off with this prolonged correction in PMs, and are sore enough to ‘have a go’ by making you the fall guy! Were PMs anywhere close to where we imagine they should be, then rest assured you’d be llifted high on people’s shoulders. It’s all to do with the madness of crowds. Fortunately the vast majority on this site applaud your integrity and love the fact that you’ve got no side to all this.
Very best to you and the team, Andrew
ditto…………ditto………ootb………………
Thank you Jerry
Many thanks, Reverend.
Maybe Dale just woke up on the wrong side of the bed. We all have bad days, myself included. He sure unleashed one hell of a tirade though and made accusations that I did not think were fair nor that had any merit. If I had to simplify his commentary and thought process down to nuts and bolts I would say he has confused the message with the man.
I will be the first to say that I think you (Al) have a tremendous amount of integrity and also that you put together a fantastic show that thousands of us appreciate each day. Your approach has been more than honest so the criticisms were unwarranted and misplaced.
Dale has engineered a post where he implies that there is some sort of hidden agenda without acknowledging that there is quite a big difference between a daily program with a theme we are all very interested in and the host who sits in the chair conducting the daily interviews.
So we need to separate the person from the topics even when we know know that the host is enthusiastic about the subjects being discussed and has a deep personal interest in the main subject matter which is precious metals and hard assets. I don’t see that as a conflict though as Al has been extremely generous and open in his approach. Nothing is hidden here. What Dale seems to object too most is that Al gets personally and emotionally involved in the subject matter.
Perhaps he would like a more clinical approach where the personal comments of the show host don’t intrude on the daily discussion. I really disagree with that idea though. We can already get plenty of vacuous talk by walking into any brokerage or bank and getting a sales pitch off a set of brochures and never gain a hair of insights into the real viewpoints of the person pitching the products.
Honestly, I appreciate that that Al has been so open and accessible to the people (mostly anonymous) who drop by each day to listen in and also that he permits us to hear his own viewpoints and tells stories about both his successes and failures. Less informed investors part with thousands in hard earned dollars for the right to get such direct unvarnished opinions from a true pro.
It is a very unique approach that this show offers common sense wisdom directly from a guy who has been in the business for decades and who has far more experience than most of his listeners. That is worth listening too and well worth learning from.
So I think this place has a home spun feel that is honest and forthright. More like a family discussing their collective worries together than a news show that gives equal detached airtime to the daily city crime as it does to the price of hotdogs at the new stadium in town.
We need to respect that and be appreciative that someone of Al’s calibre puts himself out there each day in expressing his own viewpoints. This is a great place to learn. Dale might might consider the alternatives while he is at it knowing full well that hidden agendas are alive and well on the internet and that others with less integrity might care little for his financial health while they are pressing him to buy that which they are selling.
Well put Birdman.
I will back Al any day.
Viva versa Bird
Sincere thanks Bird
Ya, what Bird said Al.
Was my post too long?
Thanks B
DALE ! I ‘m a GOLD nut in a rut and i’m crazy ! Leave ( AL ) alone ! You better COM ONE ! GOLD NUT OK ! https://www.youtube.com/watch?v=NK2FqPNIT_U
DISS IS COMING ! UP UP AND AWAY !!!!!!!!! https://www.youtube.com/watch?v=FgCMZ6gdX0U
Thanks franky – Great post My pal Alex Jones and his guest: ‘it’s just common sense and you have to think like a criminal’!!!
Interesting line by Alex Jones
that is because the criminals are running the show……………
By definition.
Thank you Franky
Well, Mr Chapmans call for 3200 gold by Feb 2012 kinda went kaput.
He did say the same thing as Rickards, that golds rise will be controlled and incrimentaly.
Chapman bad some terrible predictions, I used to listen to all of his audio interviews upon finding out about him in his final months of life; I don’t know of anyone who could tell us better about the goings -on of governments throughout the world, their agenda’s etc. Alex jones is interesting but he comes across as ratings driven and conspiratorial….but if he were president and obama took a job selling previously enjoyed cars I would be very happy.
Chapman “made”*
I knew Bob and will say that he was definitely an interesting guy.
Big Al, You hit the nail on the head: the only thing holding up the US economy IS the printing of money and the creation of debt, like a hot air balloon full of holes (interest, entitlements and outright theft). Remember Al, the Fed are profit-based bankers number one, and debt creates income to them, and secondly, they supposedly “steer” the US economy as benevolent trustees, which we all know is bunk. Proof is the 99% decay in $USDollar value since 1913. What other proof is really necessary. Debt creation is the key!
ditto
I’m curious to see how their “unravelling” of pump priming qe goes….and how they will get back that 4.2 trillion from value-depreciated bonds when they try and sell them 😉 hopefully I will be somewhere far away listening to this program
I don’t see buying any stocks on The TSX-V, or The TSX for that matter as being any part of a diversified portfolio. Buying these stocks or any stock is 1000% gambling.
As far as I’m concerned unless you can afford to lose all your money placed in any stock market it should be avoided at all costs.
I think that is a better comment about life in general.
If we don’t go to hell in a hand basket there is a lot of money to be made over the coming years. Do you trust the Canadian or US government more? Would you not like to get in on graphene ree or gold and silver /other commodity investments? How would we do that without a stock market? “Rich dad poor dad”/”cashflow quadrant” author Robert kiyosaki describes an investment as something that provides you with cashflow/income…so I agree with you; but with that, a well researched company can be an excellent “speculation” and provide relative safety.
Dick Tracy, everything has risk. Everything is a gamble, whether it is buying a risky tech stock or hiding money under a mattress or in a bank. There is a long history of people wiped out by bankers and governments who destroy currencies and there is no stock market in the world that continually goes up and doesn’t suffer from huge corrections once in awhile.
Holding cash and not investing in stocks or bonds is “return free risk”. I would rather invest in something that might be risky but might also get some return. You can make (or lose) a lot of money in the TSX. The challenge is to be nimble, aware, and think for yourself.
So true Weeble
Weeble, I don’t disagree with what you say but there are definitely degrees of risk, take Al he just mentioned how he will be buying New Zealand energy in the next few trading days, now ask him how much he has lost on the same stock when he bought in at much higher prices.
Al believes the fundamentals support higher prices in the future of that company. If he bought it early and it went down it doesn’t mean the fundamentals are impaired just that his timing wasn’t perfect.
Jim Rogers is one of the worst market timers but still a very wealthy man because he understands the fundamentals and has the patience to hold his positions until those fundamentals change.
FWIW Jim hasn’t sold any of his gold yet either.
The point of buying a stock like NZ is it may be high risk but it is also high reward. It is the kind of stock that has been punished but it is also the kind of stock that could easily go up multiples in a month or two and many multiples in a year or more. That will never happen with a large cap lower risk stock. It shouldn’t be a matter of one or the other. I happen to really like NZ here but I would never have more than a small percentage in a small or micro cap stock. Like Al always says, diversify.
Weeble, you forgot to mention that all stocks can go bankrupt even large cap stocks like General Motors.
Great thought Webble
The answer is about $7k
Gary, you can’t pass judgment, until you have studied the stock, which I know you almost haven’t done.
I hope this isn’t the way you do most of your research.
After listening for 5 years, you would think he already knows most of BIG AL’S thoughts on this subject. HE IS THE MOST TRANSPARENT AND HONEST DUDE. THAT’S HOW i feel and I have been listening about the same amount of time. That is why I WAS THRILLED TO MEET HIM IN PERSON AT THE SAN FRANCISCO’S metals and mining show last year.
Nicely put deborah lee!
Thank you Deborah Lee
Keep up the good work, Al.
Also, as it relates to yesterday’s conversation with Bob about Trader Dan’s “gold cult” comments, all I can say is that when a former associate of Eric King says that “goldbugs” belong to a cult, you know that a bottom is in…..
Agreed.
Pretty good point Ryan.
People are very stressed and despondent over the state of the PM market. They have been hammered for three years, with 3 severe downturns and its persists. Being bullish was a mistake. Period.
Like any negative experience there is a period of depression, followed by anger and rationalization about the loss.
That is the stage a lot of people are at–and it is showing NOW at this site and elsewhere. IT will continue for some time. People are angry with the state of society, and with the PM sector that they believe would be a hedge against this subtle tyranny that is the government run economy.
This is NOT Al’s fault however. He has always been clear about his position and motives. Al has never thought gold was the be all and end of the world–just that it is a very important to have a position in. I respect him for that.
Don’t blame the messenger. He’s just an easy target.
Thanks ddswaterloo.
Yep what we are going through is almost overwhelmingly depressing.
This site should help people to cope by listening to others and realizing they are not alone!
Imo Al although your site contains an excellent thread for those to communicate as we navigate the precious metals market alot is lost in word…it would be so different if we all were sitting around a jug of coffee or wine expressing our views understanding where our opinions-positions are based from…..this is as good as it gets!
Imagine having these conversations pissed to the gunnels in the local hotel. There would be fisticuffs and plenty of swearing for sure. All in good fun though. Can’t take ourselves too seriously. Shit, I actually thought stocks would get a big correction this week. How crazy is that!
That’d be a fun meet up though !
Know what? We really should put something like that together.
I am serious.
Any thoughts?
I’ve been saying that for sometime Al….a golden piss-up!
Count me in. I would come just to give Matthew hell first person!
Dare you Matthew!
Anybody listen to COAST TO COAST last night?
concerning RONALD R…..USSR……..AND BUSH……
bb………you should like this one……….
Al,
Thanks for your shows. They are helpful.
No Tec, thank you for taking part!
Al says thank you to all his supporters. He knows we’re a solid family, warts and all!
I thank you all because I am a big supporter of you all as is Cory!
If you have a site where people agree with you all the time you know you aren’t in touch so accept the diversity of opinion it is what makes a society progressive.
I think you are wrong about that………………
joke
Great point Machine Gun and great satire Jerry!
was at kitco checking the asian gold open and noticed a banner….Get Harry Dents top 5 predictions for 2014….lol….how about Harry naming just 3 predictions he has got correct in the last 20 years…..how do these flakes get any following @#%×!!!
I have absolutely no idea!
Do you think there is a bubble in Canada’s housing , I know I do.http://investmentwatchblog.com/this-chart-is-a-hair-raising-picture-of-canadian-home-prices-that-makes-the-torrid-excesses-of-the-us-housing-bubble-look-banal/#MqrwSDw5zKP7gVCu.99
I certainly believe that is one in cities like Vancouver and Toronto.
Al
DT, the BMO at the height of the real estate lending surge was providing 110% financing, if one had the income 0 down was required, 100% financing of the mortgage and an instant 10% value of the total mortgage approved with a line of credit……
http://democraticvotingcanada.blogspot.ca/2014/04/harper-to-blame-for-canadas-housing.html
Not all debt is bad, if one can service their debt the leverage can work in your favour….if one needs perfection in the interest rate against the debt well you better hope rates never rise. I’m not looking for the bubble to burst anytime soon as the BOC could be cutting rates in their desire for a lower Canadian $
90% of the people do not use credit to make money………..leverage and opm only, works if you Work the capital which is extended., and most do not as proven by the number of over extended debtors. The problem with over extending on real estate, most forget about the maintenance , insurance, taxes, utilities, and interest charge.
Interesting comment about leverage and real estate. Perfect example of a little unit that we own and are currently renting out!
Oh, and one point I forgot, …………….Don,t forget…..some tenants or renters, do not pay….so , do not forget to consider… missing income………………….
I guess that you are correct in that all debt is not bad, Original.
At my stage, debt scares me. We do have a bit and I am doing all that I can to eliminate it.
I do believe; however, that for the most part debt is not good.
Good chart Dick. It visually shows how markets can remain irrational longer than most have patience for. Some major urban Canadian real estate was an astonishing wealth generator since its rise seven years back. It still shows no sign of ending its bull run. One notable point though is that there was a study a year back showing a high correlation between Vancouvers prices and those of Hong Kong and China. The conclusion we were led too was that once the air hissed out in Asia then a day of reckoning will have arrived for Canada. Only time will tell but it sure looks like major Chinese cities have peaked so 2015 could be quite uncomfortable for those Canucks sitting on 25 or 30 year debt that only paid off for the past half decade in many cases. Course, nobody in Canada believes the good times will end. Just ask anyone. They look at you like you are an idiot when you suggest housing is heading for a rough spot. So far they have been right and the gloomers just look foolish.
So maybe Armstrong is right in his assessment that 2015 is the big bang year. That is the one we want to be prepared for because the sh*t is going to hit the fan. Not just in China. Not just in Canada. But everywhere. He keeps talking up 2015.75 as the key timing point. I don’t know if he is correct or not but it sounds close enough for me. There are massive housing bubbles over here in Africa too. They are in fact much WORSE than those in China, Hong Kong, Singapore and even London. I mentioned this before because I was honestly astounded by just how far out of whack pricing had become. Homes in Addis Ababa run at a ratio in excess of 30 times annual incomes. Typically it is much more. Compare that to the long term average of US housing where the average home cost between 2.5 and 3.5 times annual income. Even Beijing which stunned people when ratios got as high as 20 and above seemed crazy off the charts. Economists just shook their heads in disbelief. It had the Japan price collapse written all over it. Just for reflection we should recall that the US housing bubble burst once ratios exceeded a very modest sounding 5 handle! Obviously two different worlds. The big difference between here and there though is that virtually all homes are paid up in full. Deals are typically all cash. There are not mortgages as we know them nor lending for buyers as in the West. So there is not mortgage debt to form the basis of a crisis nor impair banks who are not risky lenders. Wrap your head around that. The typical home owner in Ethiopia is therefore actually wealthier on average than the heavily mortgaged home owner in the US as a result. His asset might have a market value of anywhere from one to five million birr (60 to 300,00 thousand USD) and it is 100% debt free unless he is a business owner and borrowed to finance and expand. Taxes are so low you would cry if I told you (I won’t bother telling). Like I said….different worlds.
So just think about that next time you are thinking of writing a cheque for the starving third world children. My point is obviously that investment is the name of the game now. Charity is so passe’ and yesterday. The world is changing and it will leave behind those who do not adjust. When a citizen of Addis Ababa, Ethiopia is better off than the typical high taxed American you just know something fundamental has changed. Here, there is a rapidly rising middle class…..over there (where you live) it is in disrepair and decline. You figure out which is the better opportunity for investment and growth.
It is easier to come off the bottom and go up, …..than maintain the appearance of wealth………….uncle wally 1988
Ethiopia……….has had a long time in thinking were she wanted to go………about 3000 yrs……..or so……….
Birthplace of humanity, Jerry. Maybe they had a couple hundred thousand years. The worlds oldest human (modern) fossils were found here and were dated to 195,000 years.
Oldest Human Fossils Identified
http://news.nationalgeographic.com/news/2005/02/0216_050216_omo.html
Bird………thanks for the comment,,,I was thinking more of civilization……, but, then we have to define civilization…….thank…………..ootb
Hang in there BIG AL………this market will be back…big time!
Do you get the general drift Dale……..!!!!!!
Thanks Reverend!
It is not critical to Kathy and I, but I would be lying if I said that it was not important.
These are definitely trying times, Marc.
I came to Al’s site from http://www.321gold.com. I like Al’s background, his honesty, and how he has never put down anyone for their timidness or lack of resources in joining the precious metals sector. I might privately disagree with Al on real estate investing, but Korelin Economics Report is one of my favorite sites to visit daily.
All of us are victims, not beneficiaries, of governmental manipulation. Otherwise we wouldn’t be here. But we do not need a “support group” mentality, rather a “hunting club” mentality. Each of us want to make the Big One, or get enough to live comfortably. We each have our targets and our means to reach those targets. The fact that government regulates how we invest, what we invest, what we owe if we make a profit on that investment, and even what we can and cannot say about investing is merely the playing deck we were given. One day the rules may change for the better. The fact that we have to listen to the government-industrial propaganda megaphone as well as the cronies living from the government’s largess is annoying, but it builds character as we filter out the noise. The Korelin Economics Report is one of those low-noise sources.
Thank you Mr. Pace. We do try!
Well said Al, and I think most people understand your doing the best you can, and that’s all anyone can ask of anybody.
I for one appreciate your efforts.
Thanks.