Gary Savage – Thu 22 May, 2014

Thursday Morning Views from Gary Savage

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Featuring:
Al KorelinGary SavageCory Fleck

Comments:
    • On May 22, 2014 at 9:30 am,
      original jj says:

      CFS, its too bad all the manipulators can’t get it through their thick heads NO market can be manipulated beyond its normal trend, daily, hourly yes, long term no…if so gold would still be $250 and silver $4

      Nenner like Armstrong better be 100% WRONG in their calls or the world is in its financial death spiral!!

      Deflation, absolutely….Taxation is a major driver along with the Boomer economics

      Interest rates back to 18% would be like the sun not rising in the east….derivatives go Boom!!!….government debt would not be serviceable ….and the US$ would not collapse having 18% interest rates….hell the world would convert cash into US$’s just to sit in cash, US cash

      Bail-ins are already effecting the real wealthy as they buy high end art, homes, US equities etc, anything but cash positions sitting in banks

      Nenner has $2500 gold creating a parabolic move where Armstrong has $5200 gold suggesting a parabolic move into 2020

      June-July is setting up a very interesting precious metals opportunity

    • On May 22, 2014 at 9:35 am,
      original jj says:

      For those waiting for a US$ collapse based on the recent gas deal between Russia and China, don’t hold your breathe.

      http://armstrongeconomics.com/2014/05/22/historic-trade-deal-russia-china-will-this-dethrone-the-usd/

      • On May 22, 2014 at 9:46 am,
        ManAboutDallas says:

        I wouldn’t hold my breath for a moment of Mr. Armstrong’s carefully-planned, assiduously-crafted, and masterfully-dispensed MIS-INFORMATION, either.

        • On May 22, 2014 at 9:54 am,
          original jj says:

          I always find it interesting (assuming your a goldbug) how you guys always knock those that have been correct as Armstrong has been regarding gold these past few years which has helped me make great % gains shorting the precious metals sector and yet you keep pumping the fundamentals of gold while your portfolio continues to decline in value, hmmm

          How anyone can dismiss the daily input of Armstrong as he was asked to the BOJ when the Asian currency crisis unfolded and also the PBOChina during the global meltdown in 2008….vs what listening to the Buy side always analyst here at Al’s site………

          Good Luck!!

          • On May 22, 2014 at 2:57 pm,
            Vortex says:

            JJ, you get it,

            Armstrong and others that bring a different slant that doesn’t regurgitate the hyper narrative of gold and silver to the moon everyday are dismissed and scorned because most of the PM community use a singularity thought process that is primal in nature and resides more commonly in the low brain wave functional areas of the cortex.

            No longer are rational reasoned and critical thinking based on reality and the real world defended. Whats defended is a irrational belief structure based on whimsical and child like wants that are deep seated through a decade long indoctrination. Hense the religion and cult dialectic.

            Most rational people don’t think Armstrong and other that gravitate to his line of reasoning are gods or know all of the answers. They know better and done sweat it. But they do realize his work is just another tool of information to use in what we call the great big tool box of life. Its just another piece in navigating the road map.

            Most bugs are redundantly inflexible and locked in to the broken clock theory. They no-longer desire or have the capability to think in multiple dimensions, its either their way or the highway and that would be a one lane highway, that’s why most will die broke.

            V

          • On May 22, 2014 at 7:18 pm,
            Big Al says:

            “Most rational people don’t think Armstrong and other that gravitate to his line of reasoning are gods or know all of the answers. They know better and done sweat it. But they do realize his work is just another tool of information to use in what we call the great big tool box of life. Its just another piece in navigating the road map.”

            Seems to me that I have heard that somewhere before, V!

          • On May 22, 2014 at 7:06 pm,
            Big Al says:

            I would truly hope Original that people don’t dismiss anything.

            I can’t control the comments. There are plenty of different interviews, postings, etc. which I would hope are not all one sided.

      • On May 22, 2014 at 7:03 pm,
        Big Al says:

        No Original,

        Not an immediate collapse of course. But I do think it is one nail.

        • On May 22, 2014 at 7:41 pm,
          Vortex says:

          Yes Al, I am a tad bit redundant at times. I need much work in that area!

          V

    • On May 22, 2014 at 10:44 pm,
      Birdman says:

      Was that ever a depressing interview with Nenner. Lets hope he is wrong about nukes going off in the Middle East and New York. Honestly, I think he is completely wrong. Like a lot of Jewish analysts his outlook is Israel and Mid East focused. Bu that is not where the heat is happening these days other than Syria which is fundamentally a civil war rather than a conflict with regional threats. Egypt itself is in internal strife as are a few other countries but for the most part the region is stable. I don’t see weak countries beset by internal political troubles posing a big risk to their neighbors. It is only that Iran poses an existential threat to Israel itself that guys like Nenner worry but I think it improbable Iran will carry out an attack as it has also been totally absorbed by its own internal economic troubles for many years now. Nenners comments about New York were just idiotic as were suggestions interest rates would rise to 18%. He seems a little out of touch to me.

  1. On May 22, 2014 at 9:09 am,
    CFS says:

    But gold will be knocked down tomorrow for the 3-day weekend.

  2. On May 22, 2014 at 9:15 am,
    CFS says:

    It seems to me all this manipulation is going to destroy the US.
    Most pension funds are seriously damaged by the manipulated low interest rates, and when the general market eventually drops, more serious damage will be done.
    Most cities, states and the Federal government will not be able to meet their pension promises without raising taxes further and raising taxes further will be the last straw that totally destroys the economy.

    • On May 22, 2014 at 10:01 am,
      franky says:

      Yes ( CFS) And dan bill-ding the NEW WORLD ORDER !

    • On May 22, 2014 at 1:54 pm,
      Big Al says:

      That is definitely an important factor but, in my mind, not the only one.

  3. On May 22, 2014 at 9:17 am,
    franky says:

    DISS WILL GO ON LONG TIME ! How can you stop dis criminalization of MARKETS ! ?

    • On May 22, 2014 at 9:26 am,
      franky says:

      EU président Herman van Rompuy Little SECRET ! http://query.nytimes.com/gst/fullpage.html?res=9D01E2DF1E3DF93AA15757C0A96F9C8B63 Fore diss Herman now EU president !

      • On May 22, 2014 at 9:41 am,
        CFS says:

        I had to laugh, franky, at the mental picture of bankers being hit by clogs. It is one thing to be hit by a shoe; quite another to be struck by a piece of solid wood.

  4. On May 22, 2014 at 9:31 am,
    Goldman says:

    Gary,

    Where do you predict the daily cycle low will fall do on the Dow by the June 6th meeting? Currently at 16550

    Thoughts?

    Thank you

    • On May 22, 2014 at 3:37 pm,
      Gary says:

      Not a clue. I just watch for a swing once we get into the timing band for a bottom.

      • On May 22, 2014 at 7:02 pm,
        Goldman says:

        Gary (or other chartists )

        What would the level of the Dow have to hit to reach a Daily cycle low at the minimum?

  5. On May 22, 2014 at 9:43 am,
    Goldman says:

    Gary and others,

    Why would the fed want to prolong the daily cycle low until Aug just before a mid term election rather than now to take advantage of the ability to build it up again and the short term memory of the avg joe?

  6. On May 22, 2014 at 9:56 am,
    bb says:

    Did I miss Gary mentioning gold?

  7. On May 22, 2014 at 10:18 am,
    Glenfidish says:

    Ok so here is my theory! Classic distribution happening at it’s finest in the dow/equities market at the same time buying metals at a slow pace back and forth action. That’s what I see and that’s what im doing when given the chance. This tide will turn and when it does know one will see it coming.

    I see wti heading higher and that IMO will be one of the main catalyst to cause recession and the final blow to the dow. Then when wti reverses below 80 metals will start to make there move.

  8. On May 22, 2014 at 10:20 am,
    Glenfidish says:

    I do not see metals moving up while wti continues higher.

  9. On May 22, 2014 at 2:32 pm,
    Bill says:

    Gary recently wrote about gold on his public blog …

    http://www.smartmoneytracker.blogspot.jp/2014/05/chart-of-day_21.html

  10. On May 22, 2014 at 4:07 pm,
    Dick Tracy says:

    My message is simple, stay out of debt. Otherwise you are a slave.

    • On May 22, 2014 at 4:25 pm,
      J........the Long.............ootb says:

      ditto

    • On May 22, 2014 at 8:03 pm,
      Big Al says:

      That is true Machine Gun!

    • On May 22, 2014 at 10:34 pm,
      Birdman says:

      I will second that Dick. The biggest mistake being made by people right now is that they cannot foresee the risk of being so heavily levered in every which way to Sunday. It is not just stock markets and the menu of investment choices either. Houses, autos and all forms of consumption are included in that category.

      Right now, the contrary play is to stay a little heavy cash. That should be obvious when so many others are heavily levered. Cash is the one damn thing almost nobody has any of lately. In my case I am 100% debt free….no margin….no credit….no exposure to any downside.

      Cash is the weapon of choice for the next correction whenever it finally comes.

      • On May 22, 2014 at 11:30 pm,
        Vortex says:

        Yes Birdman, moving forward in a deleveraging world, but being debt free is going to make you almost bullet proof and sane.

        Having liquid, cold hard cash and a nice stash of gold bullion coins and bars in a safe and solvent entity or stored locally will be a godsend.

        Debt is mans one-way ticket to a card board box under a bridge.

        • On May 23, 2014 at 2:17 am,
          Birdman says:

          You said it Vortex. I lived that way once already and I won’t ever return. I sleep better being solvent and debt free and really enjoy my life a lot more for the effort. Plus it feels better to be a lender than a borrower!

          • On May 23, 2014 at 7:33 am,
            J........the Long.............ootb says:

            Sheeple love DEBT………..it makes them feel wanted………….wanted by every Loan shark in town………

          • On May 23, 2014 at 8:05 am,
            original jj says:

            DEBT is not a 4 lettered word, we’d still be living in caves if it wasn’t for leveraged money….mortgages, car loans, student loans etc

            Its being able to service that debt, that’s the key!

          • On May 23, 2014 at 8:19 am,
            J........the Long.............ootb says:

            there are two words…………..DEBT……..SAVE….you” save” first, then you do not need DEBT……………

  11. On May 23, 2014 at 5:20 pm,
    Bruce says:

    Gary is nothing if not consistent. When the market, any market goes against his predictions, iow what “should have happened”, blame manipulative powers.

    This guy proves that Gary is correct. In that gold was manipulated all the way up and when they were forced out of the manipulation game, gold began its current decline. http://kiddynamitesworld.com/details-gold-manipulation-come-light-price-action-makes-sense/