Weekend Show – Sat 10 May, 2014

Economic and political discussions with the best people in these sectors

Hour 1: 

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Hour 2: 

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As always we engage in economic and political discussions with some of the best people in these two sectors. One twist this week, “Why did the Republican Beltway Establishment try to eliminate one of their own?” Enjoy!

Hour 1:

Hour 2: 

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Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

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Al KorelinCory FleckDavid MorganChris TempleGary SavageRichard Postma
Valentin SchmidWendell ZerbGlen Downs
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  1. On May 10, 2014 at 1:44 am,
    franky says:
    • On May 10, 2014 at 1:47 am,
      franky says:
    • On May 10, 2014 at 2:20 am,
      Andrew de Berry (Rev) says:

      franky: ‘Behold I send you out as sheep in the midst of wolves. Therefore be wise as serpents and harmless as doves.’ Matthew 10,16. That said, the doves can expect to come under attack.

      • On May 10, 2014 at 3:23 am,
        franky says:

        THANK’S Andrew de berry rev !

      • On May 10, 2014 at 8:48 am,
        Big Al says:

        Thanks Reverend. Sad but true. Although it is truly direction from the Boss!

        • On May 10, 2014 at 12:03 pm,
          J........the Long.............ootb says:


          • On May 10, 2014 at 1:03 pm,
            Big Al says:

            We will start it in a few weeks. Somewhere between free and $1000 per week!

          • On May 10, 2014 at 6:52 pm,
            Birdman says:

            Great idea. Especially for Cory if he wants to stay in the business of reporting on precious metals and hard asset trends and make a fair living from that side of the business. So you guys will be joining the business that many of your guests are in. It can be very lucrative but also a huge drain on all your mental and emotional and family resources. Most people cannot hack the demands or there would be a lot more of these newsletter services out there. I don’t envy anyone doing it. Best of luck to you guys. I would say this….don’t sell yourselves short if you are going down that road. Expertise in the business is worth the price subscribers pay but from what I know about it the work is so demanding that if you don’t set rates fairly it will just turn you into a slave to your career and burn you out little by little……cause you can’t stop so easily once you have begun (unless you are lucky enough to find someone to buy your newsletter and get you off the hook some years down the road!).

  2. On May 10, 2014 at 2:58 am,
    Dale says:

    You guys have been saying the same things for the past three years. At the beginning of 2012 David Morgan was predicting that silver was going to be at $60/oz by the end of 2012. What a joke!
    Why do all of you continue to try to make predictions. You only look like fools when they don’t come true.

    • On May 10, 2014 at 3:10 am,
      Skeeta. says:

      Agreed Dale,
      There is always a time to sell…no matter what it is you hold
      Those who spruik all the way up…then tell you its a great buying opportunity ALL the way down…annoy me bigtime.

      As much as I admire many of the guests on this show…many are also guilty of the above imo

      …do your own research & act accordingly.

      • On May 10, 2014 at 8:50 am,
        Big Al says:

        Words of wisdom, Skeeta! Thank you

    • On May 10, 2014 at 7:06 am,
      gary says:

      We all use the tools that we prefer and then make adjustments as we go along.

      I’m looking for a bottom in late May based on my cycle analysis. Doc has the same outlook but he gets there with completely different tools. Once we get closer to that timing band we may have to adjust our expectations. Maybe it bottoms earlier than that or later. We can’t know in advance whether things will work out perfectly as we expect (they rarely do), but we can start with a macro view and make adjustments as we go along.

      • On May 10, 2014 at 8:03 am,
        original jj says:

        Totally understand your point Gary as we all use different tools to hoefully see the same results. Its those with the constant buy side approach that are doing the pm’s sector and their followers a dis-service….Everything must be traded as every chart shows there is a time to huy…sell…and sit in 100% cash…..

      • On May 10, 2014 at 8:51 am,
        Big Al says:

        Amen, Gary!

    • On May 10, 2014 at 8:49 am,
      Big Al says:

      Sure there have been some mistakes. You ever make a mistake Dale?

      Best and have a great weekend.

  3. On May 10, 2014 at 3:23 am,
    Dale says:

    Wow! Segment five David Morgan is sure happy to blow his own horn for calling the top in silver when it was at $48. How about the fact that he was calling for $60.00 silver by the end of 2012? Not a peep from him on the utter FAILURE of that prediction.

    • On May 10, 2014 at 4:48 am,
      Bobby says:

      Dave had it right years ago, but like the others failed to open his eyes and mind the reality of change.

      • On May 10, 2014 at 8:43 am,
        J........the Long.............ootb says:

        BOBBY……….I do not remember him calling in a top at $48……….Unlike, BOB M.
        if , he did call in a top…..he hid it from many of the listeners………..ootb

        • On May 10, 2014 at 8:45 am,
          J........the Long.............ootb says:

          It really does not matter, either way, …………the direction is up…….Long term.

          • On May 10, 2014 at 8:47 am,
            J........the Long.............ootb says:

            It is always good to see , that every expert, can make a mistake, and one should really do his own DD……….best…………..jerry

          • On May 10, 2014 at 9:53 am,
            Marc, San Diego says:

            Spot on Jerry – the long term direction is up…when is that??? I have no clue…it is up when it starts to go UP!!…DITTO BTW

          • On May 10, 2014 at 12:47 pm,
            Big Al says:

            All depends on s person’s time frame. Now where have I heard that before?

          • On May 10, 2014 at 11:49 am,
            J........the Long.............ootb says:


        • On May 10, 2014 at 9:05 am,
          J........the Long.............ootb says:

          must have missed the PUBLIC RECORD………….

          • On May 10, 2014 at 7:17 pm,
            Birdman says:

            You missed it alright.

          • On May 12, 2014 at 8:51 am,
            J........the Long.............ootb says:

            why didn’t you send us the memo…………….?

          • On May 12, 2014 at 8:55 am,
            J........the Long.............ootb says:

            you could have sent it carrier pigeon…….why , has it taken THREE YEARS TO GET THE MESSAGE………………..? SOMETHING IS WRONG WITH THIS , that the message his just now coming out from DAVE….!

          • On May 12, 2014 at 8:57 am,
            J........the Long.............ootb says:

            change” his” to…….. is…………….

          • On May 12, 2014 at 1:16 pm,
            Birdman says:

            You can lead a horse to school….but you cannot make him think.

    • On May 10, 2014 at 4:51 am,
      Bobby says:

      Dale, I believe he had several failed failed bottom calls as well. Tons of busted juniors in his portfolio…. But don’t we all!

      • On May 10, 2014 at 8:53 am,
        Big Al says:

        Not me Bobby because I am the prettiest baby in the nursery and I am always correct!

        • On May 10, 2014 at 6:07 pm,
          Bobby says:

          Al, this is true! You are the best!

          • On May 10, 2014 at 6:38 pm,
            Big Al says:

            Thank you sir and, yes those are a couple of great bottles.

            What did you think of The Cougar Crest?

    • On May 10, 2014 at 8:52 am,
      Big Al says:

      This make you feel important Dale? Good if it does then we are accomplishing something!

    • On May 10, 2014 at 9:52 am,
      Marc, San Diego says:

      I must say you are right. For a silver guru his predictions are not too accurate. He is very, very knowledgeable but keep predictions where they should be – in your hip pocket. The market says silver is at 19 bucks an ounce…..does it makes sense fundamentally – heck no – but it is what it is.

      • On May 10, 2014 at 10:25 am,
        original jj says:

        well Mark thats is imo THE only thing that matters…..PRICE…today, not where it maybe going based on drawing arrows on a chart or fundamentals which dont apply during a bear market trend….Price is everything!!!

        • On May 10, 2014 at 12:49 pm,
          Big Al says:

          Depends on why you buy in the first place!l

          • On May 10, 2014 at 12:56 pm,
            J........the Long.............ootb says:

            I buy so the price can DROP………..then I can buy more at a lower and lower price, and then I sell at the BOTTOM, AND buy back until it reaches climax stage, then I buy again, then buy all the way down……………..THEN I AM 100% CORRECT ALL THE TIME.

          • On May 10, 2014 at 1:06 pm,
            Big Al says:

            You are and absolute genius!

    • On May 10, 2014 at 11:22 am,
      Lore says:

      DALE – WHAT IS YOUR MARKET CALL? Let’s hear your position for the short and medium term, with a bit of reasoning.

      • On May 10, 2014 at 12:50 pm,
        Big Al says:

        Great idea Lore!

      • On May 10, 2014 at 3:37 pm,
        Dale says:

        @Lore and Al,
        Why would I do something that I have just criticized the so-called experts for doing? That would certainly make me a hypocrite, wouldn’t it!
        My point is that none of these experts have been right, not even close, over the past 3 years about where the price of gold and silver were going in the short to medium-term.
        Are the prices going to go way up from here? That’s a real possibility. But for these guys to try and predict when and by how much is a fools game. The thing I dislike is when gurus blow their horns about their successes, like Morgan has done on this show about calling a top in silver at $48, but his 2012 call that silver would be at $60 by the end of the year doesn’t get a peep.
        It’s also quite clear that many of the individuals here are not able to take any criticism, including yourself Al.
        As soon as someone criticizes you or any of your guests, there is all of this defensive that comes out, and in some cases are outright attacked (I mean in written form of course).
        There have been and continue to be absolute incredible stocks to buy in the conventional markets, and when I say conventional markets I mean the S&P 500, the NASDAQ and the TSX, I don’t mean the TSX Venture. The Venture is not the conventional market.
        Last week on this show Al stated that his show has always been about diversification, and this is simply not true. Is that a criticism? Sure it is! Is it unfair? Not at all.
        Last week Al stated that this show has always been about diversification. This is simply not true. This show is 99.9% about gold and silver. Is there something wrong with that? Not at all.
        What is wrong is claiming it’s about diversification, when it isn’t.

        • On May 10, 2014 at 5:16 pm,
          Big Al says:

          Fair enough

        • On May 10, 2014 at 6:10 pm,
          Bobby says:

          No, Al pays for his failed predictions, I have 2 beautiful bottles of wine as proof.

        • On May 10, 2014 at 6:23 pm,
          Lore says:

          So all you’re prepared to do is come on here and urinate all over other people’s contributions, like a mutt on a fire hydrant? At least the fire hydrant serves a useful purpose. Unless / until you’re prepared to earn some street cred by putting out something useful, you’re nothing but a troll.

          • On May 10, 2014 at 6:26 pm,
            Lore says:

            Incidentally, I started trading with Silver-Investor at $5.50/oz and have Dave Morgan to think for being able to retire in my late 30s.

          • On May 10, 2014 at 6:34 pm,
            Big Al says:

            Good point Lore!

    • On May 10, 2014 at 6:15 pm,
      Birdman says:

      Dale, you really are a stunned bunny. It is part of the public record that David sold at the top. Kitco interviewed him saying he had gotten out of all his speculative trades literally within days of the peak. He made an absolute fortune. The guy bought at three bucks and sold at 48 and change. He also informed his subscribers via his newsletter. He does not need to defend himself but I will speak up since you don’t know what you are talking about.

      ‘I’m Out Of My Speculative Silver Position’ – David Morgan

      • On May 10, 2014 at 6:48 pm,
        Matt says:

        I have been a David Morgan subscriber at times over the years.
        After the 2008 massacre David’s clients were slaughtered.
        It was after that kicking that David started advocating his clients hold a percentage of a portfolio in physical silver.
        I see him as knowledgeable about silver ,itself , but he lost me in 2008.
        Did well for himself but his subscribers-not so much.

        • On May 10, 2014 at 7:04 pm,
          Birdman says:

          Matt, you will surely recall that market expression “Bulls make money, Bears make money; pigs get slaughtered”. It refers to greed of course. There is no accounting for the behavior of people but some think that those who overstay in a market where profits have been extremely good, just got what they deserved if they end up losing money in the decline by refusing to bail when the time is right. David’s subscribers did not get “slaughtered”. They commit financial suicide because of their own greed and stupidity. That is quite a different thing. Seriously…why buy a subscription service for expertise and then ignore what the expert is telling you to do?

          • On May 12, 2014 at 10:03 am,
            J........the Long.............ootb says:

            “pigs get feed……hogs get slaughtered”…………

  4. On May 10, 2014 at 3:30 am,
    Dale says:

    Last week I posted that your comments suggesting that you always stress diversification seemed to be contradictory to what actually takes place on your show and your site. You actually had the nerve to try and reply to my post.

    Funny thing is, this weekend show is a perfect example of my point. Except for segments 7,8 the entire show is about gold and silver. WOW! You guys are diversified alright!

    • On May 10, 2014 at 8:54 am,
      Big Al says:

      You are certainly correct about this week, Dale. Thank you!

    • On May 10, 2014 at 8:55 am,
      Big Al says:

      By the way, what exactly do you mean when you said, “You actually had the nerve to try and reply to my post”? Try?

  5. On May 10, 2014 at 4:43 am,
    Steven says:

    When I talk of a world economy divided by real ounces of silver bullion exchange rate I am not talking about market prices or predictions at all. Just straight math and what I could justify settling for at the low end of a possible price/ exchange rate range. After all the punishment for the insiders and silver users ought to fit their crimes against producers and owners.

  6. On May 10, 2014 at 5:15 am,
    jhpace1 says:

    Despite a $17 trillion debt precious metals are actually down. Not bad for the manipulators, eh? They get to become paper billionaires at everyone else’s expense. Governments bail out the banks who bail out the politicians and the bureaucracy. They can’t have any truth in the markets. It’s all about lies, fraud, and power.

    The rules of the game are the Dow Jones always goes up but individual stocks and commodities can be infinitely shorted with fraud. The fraud is overlooked as the short-sellers bluff everyone else and make a fortune off of everyone not “in the know”.

    • On May 10, 2014 at 5:32 am,
      franky says:

      Wonderful POST JHPACE1 !

      • On May 10, 2014 at 9:55 am,
        Marc, San Diego says:

        Excellent comments, jhpace1…hear, hear

    • On May 10, 2014 at 8:57 am,
      Big Al says:

      Welcome to the world that we live in, Mr. Pace! Still money to be made though!

      I guess that a person could just throw his/her hands in the air and simply complain and give up. That would really solve something wouldn’t it!

      Stick with us on this site, man!

  7. On May 10, 2014 at 7:53 am,
    Markedtofuture says:

    Glen Downs- on being physically conservative. The $64,000.00 question should be, when is congress going to eliminate the Fed and start printing their own money?

    Martin Armstrong on Pope Francis – & Social Justice

    Pope Francis is sadly getting his two-cents in on economics. Someone had better explain to him that these ideas of “social justice” have led to the death of tens of millions of people. He called Friday for governments to redistribute wealth to the poor in a new spirit of generosity to help curb the “economy of exclusion” that is taking hold today. All governments do is borrow and never pay anything off so that 70% of the national debt is accumulative interest payments that helped nobody.

    Excuse me. What about the 10 Commandments – thou shalt not covet thy neighbor’s goods? Not even God agrees with him on this issue.

    So it is ok to create money out of thin air, then charge the general population 29% interest on their labor. All in a days work of creating a book entry in a computer at a financial institution. The bigger joke is compounding and charging anyone, especially the poor, over a 6 year or 30 year period for a house or an auto.

    Mr. Downs and Mr. Armstrong should watch The Biggest Scam In The History Of Mankind- Hidden Secrets Of Money….https://www.youtube.com/watch?v=iFDe5kUUyT0

    • On May 10, 2014 at 9:00 am,
      Big Al says:

      Good morning Markedtofuture,

      Excuse me. What about the 10 Commandments – thou shalt not covet thy neighbor’s goods? Not even God agrees with him on this issue.

      Thank you very much, my friend. No, God doesn’t seem to agree with him on this issue.

      Really appreciate you comment here!

    • On May 10, 2014 at 9:41 am,
      J........the Long.............ootb says:

      The best thing you could do MARKETTO FUTURE…….tell your neighbor about the BIGGEST SCAM……. , when he starts to talk about basketball, football, .or dancing with idiots……..

    • On May 11, 2014 at 8:57 am,
      CFS says:
  8. On May 10, 2014 at 8:21 am,
    Dennis M. O'Neil says:

    My take on Benghazi……October 2102…………:

    On October 20, 2012 at 1:46 pm,
    Dennis M. O’Neil says:

    At law some things are “prima facie”. Literal translation for the Latin phrase is “at first face” or “at first appearance”. Some things just are self-evident. When a plane crashes it is self- evident from moment one it should not have crashed. There exists a prima facie case of liability against the airline associated with the plane that took off and failed to land safely. The Benghazi massacre is a prima facie case. It is self-evident our ambassador should not have been dragged through the street, beaten and murdered. Measures should have been taken to secure and/or evacuate him from danger. Less dangerous posts were more secure that very day September 11th no less.

    Failure to secure a compound housing an ambassador to a fresh government in a country we just recently ceased dropping bombs on is self-evident gross negligence of duty.

    Once the White House arrived at prima facie incompetence it became unscrupulous. To deflect this prima facie failure…to deflect a foreign policy devolving into chaos a spin was needed. With intelligence available saying otherwise a lie was spun. An American was jailed. Family members were told falsehood after falsehood as they mourned. The UN was told free speech is an American custom which had to be endured. The Obama administration deceived the American people. In direct conflict with State Department testimony under oath…in direct conflict with CIA cables available day 1…..The Obama administration lied in order to hide failures in security and foreign policy.

    This is one instance where the cover-up was not worse than the crime. For it is a crime for a President not provide adequate safety for our Ambassadors. Fortunately as a direct result of the fraud and lies that followed no one died.

    • On May 10, 2014 at 9:04 am,
      Big Al says:

      And Dennis M, the next administration will probably follow suit because of the gimie, gimie, gimie philosophy of that wonderful segment of American people.

      What is this going to end?

    • On May 11, 2014 at 9:08 am,
      CFS says:

      What if…..?
      What if it is actually much worse?

      Remember at the time……

      Obama was losing in the opinion poles.
      Suppose he thought he could win re-election by boosting his popularity by showing he was not a Jimmy Carter, but a competent President!
      Suppose he organized a siege of the Consulate or a temporary capture of the staff, so that he could negotiate their release and look like a brilliant negotiator, but that it got out of hand; and that when the folks in the streets heard what was happening, they piled in and what happened, happened un-planned?

      What if……?

      Do you trust the administration is not covering up something far worse than mere incompetency?

      • On May 11, 2014 at 11:27 am,
        Big Al says:

        Do I trust the current administration CFS? Not a chance”

  9. On May 10, 2014 at 9:01 am,
    J........the Long.............ootb says:

    SEG 5 ………Big Al……your memory is failing you…………You are in at $8 , check your notes………….he,he…………ootb

  10. On May 10, 2014 at 9:13 am,
    Brad H. says:

    Just read a missive on zerohedge regarding FEC chairman comments about controlling the press/media. Serious, fundamental stuff. http://www.zerohedge.com/news/2014-05-10/fec-chairman-warns-forthcoming-government-media-censorship

  11. On May 10, 2014 at 9:20 am,
    kathy Bechard says:

    Thanks for another good show but all I learned was your guests know how to point in different directions.

  12. On May 10, 2014 at 11:36 am,
    original jj says:

    http://www.safehaven.com/article/33740/deflation-shock-coming ……excellent article regarding a global deflationary dip in play, remember when a countries currency was strong how it reflected a strong economy working in the background…Debt has changed all that

    • On May 10, 2014 at 12:21 pm,
      J........the Long.............ootb says:

      AS long as the FED AND BANKSTERS are in charge…….with the HELP ..of POLITICIANS, WE ARE SCREWED…………..

      • On May 10, 2014 at 12:49 pm,
        original jj says:

        so screwed!!!!

    • On May 10, 2014 at 12:54 pm,
      Big Al says:

      Exactly Mr Original!

    • On May 11, 2014 at 5:51 am,
      Birdman says:

      I saw that article, jj. I think the author is taking the wrong read on what is happening. He states that falling bond yield and rising bonds is a sign that investors are expecting deflation. But please recall it was not that long ago that Europe was in a sovereign debt crisis and rates were hitting double digits in some countries for a variety of what many thought were very risky bonds and serious default potential.

      I think we need to better understand why bond yield is falling. The first and most important reason in the past months has been the new and growing stance by the ECB that QE and related intervention is on the table. The same kind of medicine (or a Euro version) that flattened rates in the US is now going to be applied in Europe. That is what has pushed bond prices up. So that in itself does not imply deflation shock in the minds of business people. On the contrary, the lower rates will be welcomed because they are stimulative.

      What did suggest deflation was the strength of the Euro currency and the monthly data on price changes which made up the Euro basket CPI. What I think we are seeing now is capital being allocated to where investment opportunity looks best. Money is betting on where rates will move and how bond markets will be impacted. There is a lot of money to be made by those first in the gate.

      The other thing that is worth thinking about is now is a good time to be looking more closely at European equities as that is where others will be shifting to capture better returns exactly as happened in the US. Stock markets over there should benefit for the same reason that they got a boost here and that is because even junk bonds paid squat whereas many equities offered better returns (on dividend alone) not even taking into account price growth of stocks.

      Mr Draghi’s QE is an important Central Bank action and its fallout will be felt everywhere. Just ask yourself how capital will flow as an outcome to get an idea of what to do here. Use the US experiment as a template. Debt servicing costs of companies and countries is but one area where benefits will be felt. That in itself is stimulative and can even be expansionary. Falling rates also make real estate more appealing. Private borrowing should rise and credit expansion resume. This is what we want to see over there especially as unemployment has reached such extremes.

      I think it is just common sense to expect that the Euro itself will keep falling versus the dollar. That should be a good trade for quite some time. More immediately the Euro will likely see another steep drop when QE is formally announced. Either that or it gets steadily pushed down between now and Junes meeting in anticipation.

      There is probably still opportunity to buy debt issues that will offer good upside even though we do not yet know what the ECB will target. Falling yield raises all boats I suppose. So while the US may be entering a normal business cycle recession (that is long overdue by the way), Europe might finally start getting some relief from the past years of balance sheet repair.

      Finally gold. So what about gold if the fear of sovereign default is swept off the table but at the same time a belief develops that deflation is being arrested thus implying that maybe, just maybe, inflation will return? I now think metals prices will decline further.

      I could not have said that even one week ago with any confidence though. The growing certainty that the ECB will introduce a Quantitative Easing program that is as much as a trillion dollars in size has substantially increased the odds that precious metals prices will decline (this is the inverse of what gold buyers believe of course).

      What I see happening is that as the Euro falls and the dollar rises that gold and silver will both be pressured down. That is not a certainty by a long shot though. Investors are not stupid. They know that dollar strength is not exactly the same thing as Euro weakness and as a result they may continue buying anyway for the usual reasons.

      Nevertheless, what is now unfolding in Europe cannot be ignored. Everything is connected and that is a huge market over there. The union itself is in aggregate the largest trading partner of America so a when currency pairs reverse the changes are going to be felt everywhere. And this reversal could not have come at a better time.

      • On May 11, 2014 at 6:15 am,
        Birdman says:

        Cripes, do I ever blither without getting to the point. The point is this……if Mario Draghi introduces a QE as big as a trillion dollars this year we had all better be prepared to adjust to what is happening there. This time around we have a really big advantage. We already know how to make money off interventions from recent experience. There should be a shift as QE ends here and a new QE opens there. So focus on that and how to get involved before it actually arrives.

        • On May 11, 2014 at 9:27 am,
          Birdman says:

          And by the way, you may want to take note of a major piece of news out of China that is not getting a lot of airplay on gold websites just yet. It is this…..they are deflating as the air hisses out and the economy slows over there. This presents a headwind to gold acquisitions for several reasons. Most importantly, the incentive to buy precious metals will decline as the fear of losing buying power fades. If the public reduces their purchases of gold then that really only leaves continued PBOC acquisitions as the pillar holding up interest in strategic gold buying. It remains to be seen if Indian buying will pick up any slack that develops.

          From the article you posted above:

          “Concerns That China could be slipping into deflation were sharpened on Friday as official figures showed annual inflation fell sharply in April to its lowest level in 18 months, raising concerns about the risk of deflation in the world’s second-largest economy.

          Annual inflation fell to 1.8pc in April, its lowest in 18 months, the National Bureau of Statistics (NBS) said in a statement. This compares with 2.4pc in March and was the slowest pace of growth since October 2012, when inflation stood at 1.7pc.”

  13. On May 10, 2014 at 1:07 pm,
    bob says:



    • On May 10, 2014 at 1:43 pm,
      J........the Long.............ootb says:

      SEC.8……….Al, asked….. “do you think the rest of the nation will come to the same conclusion as NORTH CAROLINA”…………….I think NOT………
      REASON……..The ole South, was infiltrated by a carpetbagger from DC, and the locals were not going to vote for a carpetbagger……….Tea Party people in other parts of the USA, are going to have one heck of a fight on their hands, if ,people do not WAKE UP and see the SNAKES and the CORRUPTION TAKING place before their eyes……….
      Tea Party members are going to be rooted out of the party, because they are a problem for the WAR MACHINE……and Corruption which permeates the HALLS OF DC.

      • On May 10, 2014 at 6:25 pm,
        Big Al says:

        My personal opinion? You are not out of the box on this one, Jerry. Too bad!

    • On May 10, 2014 at 6:32 pm,
      Big Al says:

      Hey Bob you are talking to a seventy year old stud!

    • On May 10, 2014 at 6:54 pm,
      Vortex says:

      Bob, I hate to sound so pessimistic and I know I may come across as very defeatist at times but I’m a very positive person believe it or not. What has happened to our nation absolutely breaks my heart beyond belief so my frustration is parced through words.

      The verdict and sentencing is in and the iron fist of consequences has slammed its fist on the table of reality. There is no turning this ship a state around. It has long ago sealed its fate to an inevitable painful outcome.

      The social engineering of every element of our nation and its people has been so through and monumental it is beyond the scope and understanding of the average person. The targeted deprogramming and reprogramming of most all honorable institutions, individual consciousness and moral aptitude into a subverted degeneracy that is so pervasive and in your face not one man in a million can recognize, and those few million people that do recognize the enormity and scale of the subversion lack every defining element within their DNA to help stop this madness.

      So, the ship of state must meet destiny as it has been planned for decades by the American ruling elite and devolve into unspeakable pain.

      The most important part of the equation to never forget……..this was all done by Americans to Americans and America. We have been destroyed as a great nation from within.


    • On May 10, 2014 at 1:23 pm,
      original jj says:


      Gary my Weekly Crb index chart shows the indicators rolling over…if the lower trendline
      comes into play est @ 275….where will silver be as prevoius rollovers have not been kind to silver

      • On May 10, 2014 at 1:56 pm,
        gary says:

        Yes commodities along with everything else except the US dollar are due to move down into a hard correction over the next few weeks. I’m expecting the metals to hold up OK but they should take a hit also.

        • On May 10, 2014 at 1:59 pm,
          gary says:

          I was thinking something more in the neighborhood of a 38%-50% correction in the CRB.


          • On May 10, 2014 at 2:08 pm,
            original jj says:

            holly sh!t Gary if thats the outcome within the CRB index not holding 275….then we are looking @ $15.00 Silver

          • On May 10, 2014 at 2:10 pm,
            original jj says:

            ok got ya now 50% FIB retracement level…wheeeew!!

          • On May 10, 2014 at 11:59 pm,
            Birdman says:

            It is interesting to see how the chart formation is developing for coffee which is forming a recent pattern similar to the CRB. I was honestly thinking that it was in the process of forming a right shoulder which would be pretty negative. We would know by mid June if that was in the works. Not getting gloomy until then. Just watching it.

        • On May 10, 2014 at 5:08 pm,
          original jj says:


          Gary dont know if you ever use GNX as a comparison chart to the CRB but it highlights the Silver action perfectly….check it out as it too is rolling over and the Jan-March move in the pm’s sector shows up perfectly

          • On May 10, 2014 at 6:00 pm,
            Gary says:

            The dollar has started what should be a 5-8 week rally. During that period I expect everything will struggle, gold and silver included. If stocks get hit really hard then at some point gold will start to anticipate a policy change from the Fed. By that I mean they pause the taper and maybe restart QE.

            It won’t help stocks, except briefly, but it will drive a big move in commodities during the second half of the year.

  14. On May 10, 2014 at 1:27 pm,
    bb says:

    I received an e mail about a poll asking “do you believe” and the list was government, congress etc etc

    Turned out the military had the most believing in them with a low 50%. All others were low 20-40% The media is down to 11% believing what they say. Its a start

    • On May 10, 2014 at 6:26 pm,
      Big Al says:

      Yes it certainly is bb

  15. On May 10, 2014 at 3:23 pm,
    original jj says:


    Norcini has a great piece on Silver….its always about having momentum behibd any of our investments as they may appear on paper to be the perfect investment but without momentum which is the leveraged hedge funds of today….its dead money

  16. On May 10, 2014 at 4:06 pm,
    Marc, San Diego says:

    jj…TRADER DAN…not investment Dan Norcini……I will take cold, hard silver in this environment anytime……

    • On May 10, 2014 at 4:35 pm,
      original jj says:

      Dan Norcini is a pro commodity trader….not an armchair qb investor….big diff imo….well you may well get the opp to buy silver alot lower

      • On May 10, 2014 at 7:12 pm,
        Birdman says:

        You could be right. It is never to late to get bearish on metals again if circumstances warrant. And here I just chucked my bear suit but now I am having serious second thoughts again. Silver does look weak and there is no question it has still not broken decisively from its long bear decline. Sideways trading does not really count in my books. Sub 18 bucks is a bullet in the brain-pan for silver…technically speaking of course 😉 . Where the hell is that bottom anyway!……..

        • On May 12, 2014 at 9:18 am,
          J........the Long.............ootb says:

          ASK DAVE ……MAYBE HE KNOWS………………

  17. On May 10, 2014 at 7:49 pm,
    Vortex says:

    No one can pinpoint what will happen but if, if a quick bout of deflation was to hit some major economies resulting in a violent lack of liquidity in the markets in general it would be lights out for the metals just like in 2008 for a short period.

    Deflation would lead to massive and uncontrollable insolvencies which would uncork strong selling in silver and gold because they would be one of the few items with any value.

    $15 dollar silver would not be a prognostication of complete lunacy. But it would likely create one of the greatest buying opportunities of the decade both in the physical and the miners that were left standing.

  18. On May 11, 2014 at 12:29 am,
    Andrew de Berry (Rev) says:

    That’s what gold insurance is all about Vortex. We’re here for the long haul. For someone’s who’s not had a serious road accident in over thirty years, premiums go down as low as they can go. Good! Isn’t the whole idea of insurance about never having to use it?

    • On May 11, 2014 at 3:03 am,
      Vortex says:

      Rev, I agree and thats why I’ve been buying since 2004.

      Always great to hear from you!!!!



  19. On May 11, 2014 at 7:28 am,
    Birdman says:

    Continuing in my ongoing theme of African development and its new place in the global economy as expressed by the rising interest of the worlds two largest economies, I thought it would be appropriate to highlight a pair of speeches during this past week that came respectively from Secretary of State, John Kerry and Premier Li Keqiang of China.

    These were not widely covered in the West despite their obvious importance. A competition is ongoing here between the West and East to win the hearts and minds of the continents billion citizens as these thriving economies attempt to come of age. There are a great many untapped resources as well. Some say this is the last frontier for exploration other than the Arctic and continental shelves.

    This incidentally is an important year in Africa as it is the 50th anniversary of the African Union which is headquartered in Addis Ababa, Ethiopia. The two speeches are therefore significant in conveying what the visions for the continent are as expressed by leaders from the US and China as well as spelling out the intentions for expanding trade, assisting with infrastructure and development and highlighting programs that are ongoing or in the works.

    The first is from Li Keqiang. I thought it was notable he mentioned that Africa has 54 seats on the United Nations and that those represent a quarter of all the votes. We don’t usually get insights into policy thinking and strategy in such an obvious way from major leaders. Having some sway over those voter is clearly on the minds of the leadership though.

    Speech by H.E. Li Keqiang Premier of the State Council of the People’s Republic of China At the AU Conference Center — ADDIS ABABA, Ethiopia, May 9, 2014/African Press

  20. On May 11, 2014 at 7:38 am,
    Birdman says:

    The second speech is by John Kerry. He expresses many of the same thoughts as China’s premier as well as discussing key US programs on the continent and thoughts on the future. He looked pretty relaxed here and it showed in his confidence. Ethiopia is a terrific country for those who do not know it. Anyone would feel at home here.

    Commitment to Africa — John Kerry, Secretary of State, Addis Ababa, Ethiopia May 3, 2014

  21. On May 11, 2014 at 8:02 am,
    Birdman says:

    So now I want to point out a very interesting comment in Mr Keqiang’s speech. I had seen similar comments in another article this past week and was struck by the remarks. He said “We are…ready to transfer, on a priority basis, suitable labor-intensive industries to Africa to promote employment in Africa…”.

    He is talking jobs of course. And that may surprise some people who do not appreciate that China is currently facing a labour shortage as its demographic bulge widens in the older age categories. Secondly, it is important from the perspective of understanding that the Chinese are not wholly fixated on employment and exports generated within their own borders as some might suspect.

    Indeed, the trend to off-shoring work to Africa has been underway for some years already but it has suddenly gained coinage as a greater understanding of the continent has evolved. Africans want jobs, not charity. Everybody gets it suddenly. And that is clearly one of the keys to unlocking potential here and making friends quickly.

    African leaders naturally face the same challenges that politicians face everywhere. Voters want to work and growth demands both fresh capital and employment opportunities. It is called sharing. The kind of work that is coming is labour intensive though so Westerners need not feel resentful. The same factories that were once off-shored from the West to China decades ago are now finding their way over here.

    In the other article I mentioned above, the remarks on jobs transfers were more direct. Mr Keqiang had stated he would make it one of his priorities. But I am paraphrasing. For the life of me I cannot locate the original article on his speech.

  22. On May 11, 2014 at 8:11 am,
    Birdman says:

    I sincerely hope some of you take the time to read those two speeches. Their significance cannot be understated and each contains gems of insight. Africa is on the move although it still remains under the radar for most Western investors.

    Here is another nugget from The Chinese Premiers speech that some of you here will immediately see significance in. Mr Keqiang stated “China supports bilateral cooperation in cross-border local currency settlement, currency swap, and mutual establishment of financial branches”.

    • On May 11, 2014 at 8:13 am,
      Birdman says:

      That is code for not trading in US Dollars (for the uninitiated).

  23. On May 11, 2014 at 8:14 am,
    shoobedoowa says:

    Birdman, I respect the heck out of ya, but I have to call you on backing the fraud known as David Morgan above.

    That week in the Spring of 2011 when silver shot to close to $50, David Morgan and Roger Wiegand were being interviewed by anyone and everyone who would hear them, and they both repeated over and over that the next stop for silver was $70. Loud and clear, with no ifs ands or maybes…..both of them.

    After all of these years, David Morgan’s calls on silver are still worse than a coin flip. He constantly lies about his past calls. He is about as far away from “guru” as one can get. It amazes me how all of these penny stock pumping schills talk him up all of the time.

    Every time he says “I call ’em like I see ’em”, everyone that associates with him loses another notch with me.

    • On May 11, 2014 at 8:16 am,
      Birdman says:

      I won’t doubt you if you have a link to an interview or article backing your claim.

    • On May 11, 2014 at 11:44 am,
      Big Al says:

      I am currently attending a graduation ceremony at Gonzaga Univ. So can’t write as much ad I would like.

      Look for a Daily Editorial on this early in the week. I have some pretty strong views on this general subject.

  24. On May 11, 2014 at 8:24 am,
    shoobedoowa says:

    I won’t dig, but I do remember it well. I was heavily into silver then and it was a scary time for me. Bob Hoye put out an upside exhaustion which I went out on. Lucky.

    I REALLY question when that Kitco article was actually posted despite the date on it, as I think the credibility of the site is questionable some times.

    I would check such sites as Kingworld, Goldseek, Howestreet, FSN (with Kerry the Putz) as among some that I was listening to at that time. I remember very clearly that he and Wiegand were doing interviews on several sites that week and the one before.

    Sorry, for not digging down to verify everything…..but just gotta say it is all.

    • On May 11, 2014 at 11:40 am,
      Big Al says:

      Look for a Daily Editorial on this topic within a few days.

      • On May 12, 2014 at 6:34 pm,
        shoobedoowa says:

        If you do put in the effort to put up an Ed on it, I thank you, and promise that I will then put some effort into digging up some pertinent links to post. So if you all don’t see a reply from me to such an Ed……

        Thank you.

  25. On May 11, 2014 at 8:28 am,
    shoobedoowa says:

    I should qualify that with stating that I have never subscribed to the Morgan Report, so I don’t know if he was telling his subscribers the opposite of what he was stating in all of the interviews that I heard during that time. But I certainly did not mistake the interviews, as it was an intense time for me regarding silver then. Morgan normally qualifies his predictions with saying things like “but it could always go the other way”, then several months later re-states that bullshit as “I called it”. That week, he was making no such qualifications……silver was going to $70 next stop guaranteed.

    • On May 11, 2014 at 9:37 am,
      Matthew says:

      I think you’re right about Morgan and the first top he called was in late 2010 with silver under $30. Hoye and Moriarty were short silver stocks going into the fall of ’10 (silver at $18!).

      • On May 11, 2014 at 9:58 am,
        Birdman says:

        Oh geez….lets all just “think” stuff instead of actually knowing or putting up a link to prove our point. I like David. He is a smart guy who bought at the literal bottom and sold out at the peak. He levered his trades and did very, very well. Whatever transpired in between is just noise. All of us made calls according to what we saw day by day back then and 90% of it was wasted words. All that matters at the end of the day is you made money or you didn’t. I think every single person on this site would have liked to be in Davids shoes and timed both tops and bottoms to near perfection. There is a kind of brilliance in that we can all respect.

        • On May 11, 2014 at 10:25 am,
          Matthew says:

          Is an “oh geez” really necessary? I’m going on memory here and using “I think” in order to err in Morgan’s favor. As for Hoye, he was very clear about his position in August ’10. Moriarty was already a vocal leader of the Hoye cult at the time.
          I like both Morgan and Hoye and remain very interested in what they have to say.

          • On May 11, 2014 at 11:17 am,
            Big Al says:

            Gotta listen (not necessarily believe) to everyone! Am I repeating myself?

          • On May 12, 2014 at 8:38 am,
            Matthew says:

            An open mind is a good thing, but by no means is everyone worth listening to. Yes, you are repeating yourself. 🙂

        • On May 11, 2014 at 11:20 am,
          Big Al says:

          A sincere thank you again, Bird!

          • On May 11, 2014 at 11:38 am,
            Birdman says:

            I hope you are enjoying your Sunday Al. Over here the rain is beginning and in a few weeks time it should be the regular annual torrents. My yard fills 6 inches deep during the hardest rainfall. I worry about my turtle (they are not that bright) so we make sure she is on high land before bed. How the hell those creatures survived 150 million years is beyond me. Maybe mine is just dumb!

  26. On May 11, 2014 at 8:37 am,
    Birdman says:

    And now we have an announcement today of a new railway in East Africa that is being financed by China and will connect the five East African countries of Kenya, Uganda, Rwanda, Burundi and South Sudan. Told you all they came with money (and lots of it). This is huge news. It is just a matter of time before there are connections to Ethiopia, Djibouti and the other regional countries of East Africa that also have major railways in the works or are currently under construction. Like I keep saying….it is booming over here. Time to get off the rocking chair and come see for yourselves. The sweet spots for development are usually found alongside major new transport routes and at their terminus. That is where the big opportunities for land and new industry will arise in the coming years. Nice when you can catch it while the idea is still in the planning stages. Construction is set to begin in October.

    China to Finance Railway Line Connecting East African Cities. ~~ Bloomberg

    • On May 11, 2014 at 11:34 am,
      Big Al says:

      Remember the new organization that I told you Kathy and I just joined? (Tembo Trading)

  27. On May 11, 2014 at 10:48 am,
    glenfidish says:

    Birdman and to many others.. Here is David Morgans best call ever to date IMHO.. Published on kitco.. If you followed his advice you got out at precisely the top. I personally don’t follow him but credit should be given to this call. We all know what happened two days later.

    ‘I’m Out Of My Speculative Silver Position’ – David Morgan

    26 April 2011, 01:33 p.m.
    By Debbie Carlson
    Of Kitco News
    [link to http://www.kitco.com]

    (Kitco News) – Well-known silver investor David Morgan said he sold his speculative silver position following Monday’s rally to over $49 an ounce on the futures market and is “happy to be in cash.”

    “I’m out of my speculative silver position,” Morgan said, which includes futures, options and equities positions.

    He said he is sitting on 25% cash, but keeping his core 75% position in silver. Morgan is editor of The Morgan Report and is an independent precious-metals analyst with http://www.Silver-Investor.com

    That doesn’t mean that silver longer-term won’t go higher, he said, but the way the market was acting was a sign to him to lighten up on his position. Since Monday’s peak, silver prices have pulled back and are trading around $45, down about 4% on the day. The retreat didn’t surprise him.

    “All markets go up and down,” he said, adding that he had anticipated some topping action by early May after a sharp run-up so far this year and big gains last year. Looking at seasonality patterns, silver often tops in early May.

    “We had a huge sell-off in price on huge volume,” he said. “Whenever you get a big move with big volume, that is usually a strong indicator that there is a change in trend for a while. I think there is a change in trend on a short-term basis. But the long-term major trend (higher) is still in place.”

    Morgan is a veteran of the silver market and is accustomed to the extreme volatility that comes with the territory. “This market is not for everyone. Unfortunately I’ve seen a bunch of Johnny-come-latelys … who haven’t studied it. Silver is one of the most emotionally driven markets out there,” he said.

    Now that he is sitting on just his core position in silver, he said he’s content to see what comes next. Like many long-term investors he has a trading plan that will direct him on his next move. It’s important to stick with plans that work, he added. “Most people don’t have the discipline to keep (their plan) consistently. Right now I have nothing to do but sit back and be patient,” Morgan said.

    Last Edited by Neim-Ya’shar on 04/26/2011 07:56 PM

    • On May 11, 2014 at 11:34 am,
      Birdman says:

      Thanks Glenfidish. I am sure David appreciates that others (like yourself) noticed. He did indeed warn his subscribers as well so it is not like he sold off and left anyone hanging. If I had any criticism of David it is only that he had a rougher time calling the declines and maybe I needled him a bit for not doing better as silver fell. Each to his own strengths. Some of us prefer the short side and that is a specialty. Other than that he is a genius in the business in my opinion.

  28. On May 11, 2014 at 11:47 am,
    bb says:

    I missed that David Morgan post on kitco.

    I have to admit, I too saw it as Mr. Morgan telling people he expected silver to go to about $75. Later, he said he sold at about $48?

    It really did seem he was advising buying as he was selling.
    But this post proves otherwise.

    I don’t think anyone that was not a subscriber can complain, he did state it publicly, and kitco is pretty public.

    I happened to miss it, but I guess I owe Mr. Morgan an apologee for my thinking.

    I apologize Mr. Morgan

    Other than this one incident I (as others) have always found your work extremely informative and I for 1 have appreciated it for years.

  29. On May 11, 2014 at 11:49 am,
    bb says:

    Bird, excellent contributions yet again.
    You have me wondering if I shouldn’t be looking for a “short gold/silver” vehicle.

  30. On May 11, 2014 at 11:53 am,
    bb says:

    Oh, and Mr.Morgan, if you don’t happen to see my apologee, TOO BAD,
    I didn’t see your kitco post either. lol

  31. On May 11, 2014 at 12:04 pm,
    bb says:

    If anyone noticed, Jim Willie is now speculating Russia and China both have 20k tons of gold.
    I don’t see them backing their currencies with it until other nations are ready for it.
    They are not going to make their currencies so expensive nobody can afford to buy their products.
    So far, all physical demand has been met.
    The question still remains “where is it coming from?”
    I know nobody likes it, but so far the only plausible answer that I have found is Karen Hudas. If that is the case, the americans have one hell of an ace up their sleeve.
    It also means they can take the price of gold much lower

    • On May 12, 2014 at 9:32 am,
      J........the Long.............ootb says:

      bb……….I know we have talked about this before, but, Karen said the PILE, was made up of other things beside physical solid gold bars………Maybe, since the confiscation ACT included..” GOLD NOTES”,… along with gold coins, provided for in the… ACT OF 1933… BY ROOSEVELT . This could account for the TOTAL value.. being larger than actual PHYSICAL, that she says exist.(referring to the 170k tons.)
      if, you read the ACT OF 1933, it talks about GOLD NOTES, along with COINS. JUST A THOUGHT………………………………………..J……..OOTB

      • On May 12, 2014 at 9:34 am,
        J........the Long.............ootb says:

        and on the other hand………….SHE may not know the difference……..

        • On May 12, 2014 at 9:35 am,
          J........the Long.............ootb says:

          Have you heard any more from HER?

          • On May 12, 2014 at 10:47 am,
            bb says:

            I havnt been following her, she is active tho, he website would probably give updates.

      • On May 12, 2014 at 10:45 am,
        bb says:

        Well, her story talks about the accumulation of a lot of treasure, gems,art as well as gold.
        Looked to me there was a lot stolen during the 2nd world war, as well as from other wars, by multiple “royal” families, dictaters etc.
        The whereabouts of a lot of treaures have been unknown for some years now.
        You would think that eventualy someone would make the whereabouts public.
        Hers is just the most plausible story Ive read.
        All that gold has got to be coming from somewhere, kinda convenient to have it refined in Switzerland before it goes to asia.
        Some followers have been saying the vaults are empty, Turk says he knows of bars marked 60s, but all refiners are and have been working 24/7,theyre not slowing down.
        So, wheres the gold coming from?

  32. On May 11, 2014 at 3:53 pm,
    Skeeta says:

    Gold market opens…

    …& gold just rolls over & plummets.

  33. On May 11, 2014 at 11:59 pm,
    Skeeta. says:

    …I got to admit…the subsequent recovery in the following hours took me very much by surprise tho’.

  34. On May 12, 2014 at 2:38 am,
    Skeeta. says:

    That said…I still rekon the gold price plummets to test new lows again in the coming weeks…we’ll see !

    • On May 13, 2014 at 12:53 am,
      Birdman says:

      I think so too, Skeeta. Actually i think gold makes its move today by breaking below 1280.

  35. On May 12, 2014 at 6:16 am,
    Goldman says:

    Crazy morning. Gold and silver get Smashed last night and then launch over night into this morning? Is this a break of the down trend? Could this continue up?

    I still feel the equity markets will roll over today but this does not feel like Ukraine driven pump


  36. On May 12, 2014 at 8:03 am,
    J........the Long.............ootb says:


  37. On May 12, 2014 at 8:08 am,
    J........the Long.............ootb says:

    Markets are going to Lurch Forward……….looking to steal someone’s lunch money.
    The Fed. has frozen everyone in place, till the next meeting…., Traders have to trade, like gamblers have to gamble…………it is the blood.

    • On May 12, 2014 at 8:10 am,
      J........the Long.............ootb says:

      or it is in the blood………………..OR,,,we need blood in the street…………

  38. On May 12, 2014 at 11:22 am,
    bb says:

    China signs mega east Africa rail deal

    Nairobi (AFP) – China on Sunday signed a deal to build a $3.8 billion rail link between Kenya’s Indian Ocean port of Mombasa and Nairobi, the first stage of a line that will eventually link Uganda, Rwanda, Burundi and South Sudan.

    Under the terms of the agreement, Exim Bank of China will provide 90 percent of the cost to replace the crumbling British colonial-era line with a 609.3 kilometre (379 mile) standard-gauge link and Kenya the remaining 10 percent.

    Construction is due to start in October and take three-and-a-half years to complete, with China Communications Construction Co. as the main contractor.

    Once the Mombasa-Nairobi line is completed, construction would begin to link east Africa’s largest economy with Kampala, Kigali, Bujumbura and Juba.

    The deal was signed at State House in Nairobi and witnessed by presidents Uhuru Kenyatta of Kenya, Yoweri Museveni of Uganda, Paul Kagame of Rwanda and Salva Kiir of South Sudan.

    “This project demonstrates that there is equal cooperation and mutual benefit between China and the East African countries, and the railway is a very important part of transport infrastructure development,” Chinese Premier Li Keqiang said.


    I think Bird mentioned this. I found it at jim sinclairs place.

    • On May 12, 2014 at 12:04 pm,
      Birdman says:

      Great to see you picked up on that, b. I appreciate Sinclair posting it. He recognizes the importance as I do. If you saw the state of rails and roads over here you would realize what a huge story it is. Many of these countries are still poorly connected to each other. Major highways like the one that just opened connecting Ethiopia’s two largest cities are still a rarity. They are sure welcome though and will make business flow in ways that were not possible in the past. What is happening now with transport routes and ports is probably the biggest thing that has happened on the continent in the past 100 years. They are opening everything up and business is responding.

  39. On May 12, 2014 at 12:07 pm,
    bb says:

    Bird, I recall Casey saying that if he were a young man he would head to Africa.
    His opinion is the same as yours it would seem, opportunities abound.

    • On May 12, 2014 at 1:44 pm,
      Birdman says:

      There are great opportunities, b. I see and hear about them everyday. Most are being captured by investors from India, China and the Middle East though. They just seem to have a different mind set and a higher level of tolerance for the problems that invariably crop up in poorer countries.

      You need to adjust to a different pace of life here. Personal relationships are far more important than most expect. When someone helps you there is a debt created. It is a system that goes back ten thousand years.

      The indifference and anonymity of Western business practices where so much is done electronically or by formats that exclude face to face contact is quite foreign. And our own rude and unseemly practices where you just scream and holler until you get what you want and then bitch all the way up to the top man until someone relents are seen in a very poor light.

      Complaints about government employees are not forgotten quickly. The smallest of bureaucrats can stop you dead in your tracks if you are rude and insulting. These differences and a thousand others create a lot of problems for business people from developed countries who just cannot seem to slow down and go with the flow nor accept the limitations presented by offices that are rarely computerized and often lack even basics like pamphlets, brochures and pen and paper!

      But that is reality in developing countries where resources are scarce and much more emphasis is placed on the personal relationships you develop than the amount of money in your bank account.

      I have noticed people here are very proud and have strong values and beliefs. Those who come here and can adapt to the culture and work with the limitations while exercising patience and a little understanding seem to do very well.

      • On May 12, 2014 at 1:56 pm,
        bb says:

        lol, reminds me of my first business,(retail) most of my negotatians were completed with a handshake. I ran into only 1 fellow that was not good for his “word”. And he went out of business rather quickly if I recall.
        Sounds like a great place to do business to me.

  40. On May 12, 2014 at 12:09 pm,
    bb says:

    Just thinking about the railroad. Perrie Burtons book “the last spike” might offer a few clues to those opportunities.

    • On May 12, 2014 at 1:48 pm,
      Birdman says:

      I loved that book!

  41. On May 12, 2014 at 12:22 pm,
    bb says:

    Burton tells how the government wanted the land to go to farmers etc, the speulaters bought the land prior increasing prices for farmers.
    So the government started putting out disinformation as to where the railroad was going.
    Macdonald wanted the terminus to be norh, Rupert if I recall, wanting a buffer between the major population and the U.S, he understood that people would migrate south, where as they would not tend to migrate north., due to costs van horne built it south
    Anyway, it ended up the only real place it could have. Had to do with accesability to shipping and the amount of land required.
    There was time for an invester to buy the land if he figured it out.
    Anyone that did get it right made more than they could imagine.
    Maybe ther is a clue in that for you

    • On May 12, 2014 at 12:45 pm,
      bb says:

      Just continueing with my thought. Im probly saying unneccassarily but just in case you didn’t think of it.

      Land between 2 water bodies, or where a bridge might have to go, the earth obviously would have to be solid enough to hold it, a logical central collection point for grain (Canadian eh) for example, the most valuable land will be the terminus itself.

      • On May 12, 2014 at 12:48 pm,
        bb says:

        A mountain pass if not used the track would need to go miles around it.

        I bet if you checked a map and reasoned it thru you might make enough to deliever that bottle of Canada dry. lol

    • On May 12, 2014 at 2:03 pm,
      Birdman says:

      The opportunities for strategic land acquisitions here remind me a lot of the Canadian West Coast, bb. How it was 40 years ago. It was the days before speculation set in for the Gulf Islands. Back then you could pick up waterfront on Saltspring, Pender or Galiano for less than 10,000 dollars. Some times they were small acreages. People laughed and thought you were stupid for buying them. Because EVERYBODY knew there was not enough water on those islands and they had no economy, no jobs, no future and only hippies and social outcasts went to live there. Well fourty years made a lot of stupid, lazy hippies into millionaires through the mere passage of time and the patience to stake out a claim on land nobody else wanted.

      • On May 12, 2014 at 2:10 pm,
        bb says:

        I was there Bird, “crown” land was also still available, still is around Prince George.
        PG is growing, could be profitable if a person is around to improve it every year.

  42. On May 12, 2014 at 12:38 pm,
    Goldman says:

    No reports till after market close?

    Most be super guidance coming

    • On May 12, 2014 at 2:04 pm,
      Birdman says:

      This is worrisome. Hopefully everyone is alright.

      • On May 12, 2014 at 2:13 pm,
        bb says:

        It is actualy, I hope everything is ok.
        I hope these sites are not getting shut down, but they would probably start with Alex Jones or Keiser.

  43. On May 12, 2014 at 2:11 pm,
    bb says:


    Ukrainian military forces have 48 hours to leave the region or Donetsk own “anti-terrorist” forces will fight. Of course, with the US already saying the referendums are illegal and not recognizing them, we suspect it will be time for more sanctions soon (despite the lessons below).

    Insurgent group army of so-called Donetsk People’s Republic “will start its own anti-terrorist operation in Donetsk region” against Ukrainian military forces if they don’t heed seperatist army chief Igor Girkin’s 48-hour ultimatum to leave or obey him, head of seperatist group, Denis Pushilin, says by phone

    The Russians also say they intend to cut gas off if bills not paid by June?

  44. On May 12, 2014 at 2:12 pm,
    Goldman says:

    It is odd that we have no word. Hopefully they are all ok

  45. On May 12, 2014 at 3:35 pm,
    RICHARD says:

    I believe Cory was going to the metals conference in New York but I don’t think Al was. I didn’t receive my usual perfunctory call today.

  46. On May 12, 2014 at 4:23 pm,
    Goldman says:

    So since you are here can you give us your thoughts on the weirdness of today?

  47. On May 12, 2014 at 4:24 pm,
    Goldman says:

    Cory was in Boston last wed-Friday at least. NYC would make sense

  48. On May 12, 2014 at 4:29 pm,
    original jj says:

    Silver action today, No breakout or breakdown….the chop trade channel is still in play.


    • On May 12, 2014 at 4:31 pm,
      Goldman says:

      What is a chop trade? Negative projection or potential breakout ?

      • On May 12, 2014 at 4:36 pm,
        original jj says:

        A chop trade is when no true breakout or breakdown is in play and it can continue for sometime wearing out bulls and bears

      • On May 12, 2014 at 4:43 pm,
        RICHARD says:

        A synonym for “grind”.

  49. On May 12, 2014 at 4:35 pm,
    original jj says:

    Gold action today had the lower support zone come into play as the chop trade continues inside the channel, one can see across to Aug and Oct how $1270-80 was support as it was again in Apr and still in May….a close below signals a possible $1260 target….a close above $1330 will suggest $1370??


  50. On May 12, 2014 at 4:39 pm,
    original jj says:

    HUI still holding inside its triangle….breaks higher towards 230-236 or breaks down towards 211


  51. On May 12, 2014 at 4:40 pm,
    original jj says:

    Hope all is well with Big Al……………………….??….strange Corey or Al didn’t post on the thread of technical problems or pass a message on to Doc, Gary, Rick

    • On May 12, 2014 at 4:44 pm,
      J........the Long.............ootb says:

      SEE OTHER POST…………

    • On May 12, 2014 at 4:57 pm,
      RICHARD says:

      I knew Cory was going to the metals conference in New York and I did know Al was doing some traveling. Cory has an explanation up on the site now.

      Today’s PM market was positive and if we make it through this week without another low we are still moving sideways. The farther we get into the spring season the better. People in the past that have purchased the PMs in June/July statistically do very well over the strong season. I’ve said many times that we should see the lows anywhere from mid May to the end of May (and possibly the first week in June)—I purchased a little more of the PM stocks again today. Many of the letter writers and others are very bearish yet on the PMs. I would suggest they be very careful. The weekly charts for the PMs do not show any eminent sell off which continues to be positive. The bollinger bands on the PM charts are starting to narrow which speaks of complacency prior to the next significant move. The dollar should short term continue to move up—-once again, most analysts are positive on the dollar—-they best be careful since the technicals still favor a take out of support at this time. Many folks are promoting a stronger dollar based on the hope for Draghi to announce more measures in June to stimulate growth that has picked up in a minor way. They expect either a rate reduction or more monetary stimulus based on some of his recent comments. However, will it be buy the rumor and sell the fact? If Draghi’s moves don’t meet expectations, the dollar may not make the move everyone is expecting.

  52. On May 12, 2014 at 4:49 pm,
    original jj says:

    SSRI after its Q Report Thurs it broke down out of its chop trading channel between $9.40 and $10.20….investors did not like the earnings report for the big Silver miner


  53. On May 12, 2014 at 5:05 pm,
    original jj says:

    Doc, SLV back inside the key lower trendline….that’s a Big gap that needs to be filled….one day

    Every Gap on the chart has been filled but 1 at $20.25…(and of course todays)


    • On May 12, 2014 at 6:33 pm,
      RICHARD says:

      You’re absolutely correct—-and it will be filled —–probably sooner then later. I might add that there is a huge gap back in April of 2013 that will ultimately be filled up at $26.00. And that’s why I recently purchased some SLV. I believe that gap at $26.00 will be filled this year.

      • On May 12, 2014 at 6:46 pm,
        Goldman says:

        Do you both see a short drop still for gold and silver through May ?

        • On May 12, 2014 at 7:10 pm,
          RICHARD says:

          The technicals at this time are not showing a large drop for gold imminently. I wouldn’t be surprised if we move down a little more below the trading range we’re in. Look back at the weekly chart for gold in May, June, and July of 2012—–I wouldn’t be surprised to see a similar pattern this spring—I believe the odds are pretty good based on the current technicals. Of course that could change in a heartbeat—if I see the possibility of a major move down, I would alert everyone.

          • On May 12, 2014 at 7:18 pm,
            Goldman says:

            Thank you Doc

  54. On May 12, 2014 at 6:44 pm,
    Goldman says:

    My concern is that while we skip the taper this month we are targeting taper starting again in mid June. Though most expect the taper to stop and QE to continue this wont happen with record high markets. So the question is when does the market take itself down because it is in the markets best interest to keep liquidity high. My guess is we just topped and the market will have a broad drop 10% before mid June. This will force silver down and hold down one last time to 1240 and Silver 18.80

    Then we climb and don’t stop

    • On May 12, 2014 at 7:33 pm,
      original jj says:

      Goldman, gold has given us 8 hits of the $1280 level since the March highs with three hits below $1277-1268-1272 but NO close below $1280 that for me is THE key a close below and a breakdown towards your $1240…30 area will be in play….for the Bulls gold needs a close above $1310 but really imo $1331 which will open up $1355

      For me the QE and Ukraine issue are two cross currents I can’t read any direction into…whatever is driving gold up or down its those key levels that will set up the tren into late May-June’s action.

    • On May 12, 2014 at 7:44 pm,
      original jj says:

      For gold and silver to climb and we don’t stop that would require New Buyers to the sector and not just Short covering which has produced some great trading opps as in last July and this Jan but theres NO follow thru with short coverings