Rick Rule – Mania ahead
Here is a recent video with Rick Rule on CNBC. Tune into the weekend show as we will have Rick join us.
Perhaps a different set of reasons than Gary, but Rick’s comments fit nicely with Gary’s forecast. JMHO.
Here’ another video by Ross Norman on Bloomberg called “a lot of bad news is already in the Gold price” – Ross is no slouch when it comes to knowing the Gold industry, implore all to watch
http://www.bloomberg.com/news/videos/2015-07-21/-a-lot-of-bad-news-already-in-gold-price-norman
Rick looks like he been spending too much time in his pool!
Fo you Big Al in light of the huge racist database Obama is constructing:
“There’s no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren’t enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws.” — Ayn Rand, Atlas Shrugged, Ch. 3, “White Blackmail”
They are really trying to take out $1100.
Done. Gold trading down to 1091 this morning off 1% and still falling. You got your wish CFS.
Rick can’t really say what he knows. They have too many investors in their products. I’m quite sure he knows a big washout is coming.
I think the commentator squeezed it out of him, but he put it in correct context, where you are very well advised to buy on exaggerated predations in the gold price, since this sets up a buying scenario. The show is about fast money and malign a trade, so he satisfies the requirement, but nobody has a crystal ball. Mostly the information about gold and gold miners is fairly obsolescent.
whats wrong w a return to 1080….???
can someone post a correct Link to rick rule– doesn’t connect
thank you
AGATHA : Your Req’d Link»
http://player.cnbc.com/cnbc_global?playertype=synd&byGuid=3000399302&size=530_298
Every time I hear this guy’s name I think of Rick Rude on WWF. lol
That’s the World Wildlife Fund, I assume!
Sorry Rick but the smartest guy a Sprott left and hes been dead on for 4 years about gold. Sprott has been DEAD wrong and lost their investors OODLES of money.
My guys say no way in H E double hockey sticks.
But your telling the gold bugs what they want to here. WE ARE LONG THE US. Go USA!!
http://finance.yahoo.com/echarts?s=USDCAD%3DX+Interactive#{%22lineType%22:%22ohlc%22,%22allowChartStacking%22:true}
Comment hot off the press: Commodities Today:
We expect prices to remain flat or move lower. We would short more commodity related names on any rally. Golds no diff….
How dare you thinking Rick is not smart? He is a self made billionaire (hundreds of millions at least ) and president of a significant investment company? Is your guy richer and more successful? I doubt.
Didn’t say Rick wasn’t smart. Just said they have been WRONG and the SMARTEST fund manager left the building.
And who is the SMARTEST FUND MANAGER in your opinion ? …………..thanks in advance for your thoughts……………………………………………….ootb
PS I’m up 25% on exchange alone. Plus 10 points on the my fund YTD.
I know a lot of idiots with a pile of money and some very smart people that are struggling. Just some better than others period.
Here just a peak on the sliding demand for commodities. Cell phones are replacing a ton of devices for one. Im driving a electric that has virtually no maintenance for years. I’m running solar…
http://jugglingdynamite.com/2015/07/21/power-to-people-directly-from-the-sun/
doesn’t an electric car require some silver in the panels?
Virtually none. Lithium.
Isn’t that for the storage in the battery ?
and thanks for the reply …..appreciate…………ootb
Pooper Cycle LOL. I never bought into or the manipulation of gold. READ THIS
http://www.economist.com/blogs/buttonwood/2015/07/commodities
Many top people have admitted rigging like Greenspan, Larry Summers, French central banker, etc. Volker has said that the mistake they made in 70s is not controlling gold price. Do you think they will make the mistake twice? Even they did not admit, you can tell from price movement.
Everyone here knows that it is manipulated……..
The capital gains aught to be made in the gold backwardation trade should gold see increasing backwardation:
http://quotes.ino.com/charting/index.html?s=NYMEX_GC.U15_M21.E&v=dmax&t=l&a=0&w=1
Futures chain flattened after Sunday night’s market rigging:
***************** BREAKING, CORPORTE EARNINGS DOWN BIGTME! *****************
APPLE, MICROSOFT, CHIPOTLE, YAHOO, GOPRO and others all just came in DOWN IN THE RED BIG…………………..dose anyone smell the word RECESSION!
“BILL” obviously doesnt….he just cited THE ECONOMIST magazine as a reliable source of info…give me a frickin breaK….I am sure u love yahoo.finance too….ha!!
HAHAHAHAHA. Commodities have been smashed. Are you freaking kidding me!?
SO their wrong lol
actually they are up since 2000……….
China just bought 600 tons of gold………dumps treasure of $17 billion
treasury………
Not according to JPM. The estimated figure for the Treasury dump may actually be as high as 520 billion in the last five months (or half a trillion dollars) which is massive. The question curious minds have is what would motivate them to do that.
I think I might have an idea.
When China buys Treasury paper it is selling Yuan and buying dollars. Reversing that transaction would create tremendous liquidity within China where Yuan is concerned as dollars are sold.
And that is domestically inflationary. Secondly, we would wonder what reason would possess them to bolster reserves in their own currency. Again, we do know that their current attempts to stabilize their stock markets are coming at a huge cost to the government. That money is not being printed out of thin air.
And very conveniently, the figure put forward as a market backstop is also half a trillion USD equivalent dollars of firepower directed at stopping the slide in stock values.
So now we know three things (or even four). First is the potential reason that China would sell off massive amounts of Treasury paper and secondly how that liquidity would enter the system and thus the bank accounts of investors.
Call that a national dividend for all the years the country spent exporting goods abroad now coming home to roost on the balance sheets of average Chines households. Third, this will without a doubt create the needed wealth effect necessary to ensure the development of their consumer economy is not derailed by a stock market crash.
Last, it is certain to stoke some much needed inflationary pressure and keep the engines of Chinese domestic production running by shifting wealth from storage held abroad to the investment community at home. Conveniently it will also generate inflation back in the US as dollars return by the billions.
So it is probably a win-win on some levels and not such a big worry.
That’s my initial reaction to this story anyway when I tried to imagine what the mechanics were behind capital flows of that magnitude and what was trying to be achieved.
But like I often say….they can only spend that hoard of foreign exchange once. And once its gone they will be in the same boat as everyone else.
China may have dumped 520 billion in treasury paper.
China’s Record Dumping Of US Treasuries Leaves Goldman Speechless
http://www.zerohedge.com/news/2015-07-21/chinas-record-dumping-us-treasuries-leaves-goldman-speechless
Thanks for the update…………..CHINA DUMPING MORE THAN I REPORTED………
That is about 1/3 the amount that , someone else said they OWNED, which was
$1.4 Trillion, which I indicated about two weeks ago, that I thought they would dump.
A Listener,
You made a slight error. The amount of Treasuries that China holds, if you include Belgium’s, only declined by about $100 billion in the last 5 months, not $520 billion as you mistakenly said.
http://www.treasury.gov/ticdata/Publish/mfh.txt
What JPMorgan was talking about was a decline in Chinese FX reserves in the amount of $520 billion in the last 5 quarters, not months. What ZeroHedge did was to compare the decline in Chinese FX reserves to the decline of Treasury holdings by Belgium, which shows a similar decline, looking at the timeframe. Because of this ZeroHedge concludes that China is really the Belgium buyer.
However not all the Treasuries that Belgium holds are only China’s. Most may be China’s but not all. Belgium does own some of those Treasuries but probably only about $30 billion or so. Also some other countries could also be buying and selling through Belgium. But ZeroHedge does do a good job of making a case that most of the bonds are probably China’s.
A Listener,
I forgot to add this. The decline in the total amount of Treasuries that China and Belgium hold has declined by about $200 billion the last 5 quarters. From about $1650 billion to about $1470 billion. Some of that is Belgium’s though.
BUY LOW …….SELL HIGH……….get in early, and hang on…..sell some along the way, average up, not down. Never buy more than you can afford to lose. and never bet the HOUSE ON IT…….
Never mortgage the roof over your head.
and lastly but most important…….STAY OUT OF DEBT………..
SD…Perhaps BILL , should Google…Who owns The Economist, & do some further research into who these people are….I could tell him , but i”m pissed off given out free info.
he,he,he,,,,,,,,,,,,,,good one Irish………..
Economist? Who the hell cares who printed it? Lol commodities collapse fools. Any rally will be smacked down. You guys ain’t to bright eh? Long term 15 out golds back to $500. Put it in the fridge. Anyone what to make a bet? Get the paper on your house and back it if you have any brains or balls. I will.
Don’t have to Like Bill, but I do respect his opinion
no one said they did not like Bill…….
**YAWN** Pull the other one Rick. Same old promoter BS.
Gold’s action is continuing to show more and more similarities to post 1980 bubble collapse of the early 1980s. In that case the bear market is 19 years long with a half decent bear market rally on the next dollar cyclical bear market 2016-2024. Then down to new lows by 2030.
Although one can still hold pout the hope that the whole thing washes out to 800 in quick and dirty fashion in the next year or two and then all the ‘new age goldbugs’ might be out of the market and then there can be some pent up demand for a big upmove to big rew highs 2017-2024.
By the way, $1087 is the 50% correction of the entire bull market move so it was a good stopping point for an attempt at a bounce in gold price.
The 2011 gold top shares no significant similarities with the 1980 top. The idea is laughable.
I think not.
It’s following the same pattern but not so extreme. Look at a long term chart!
It suggests a possible secular bear market. Anyway, it depends how you define a secular bear market. The stock market in 1929-3 took only 3 years to reach its low but that sure was a secular bear market because it took 25 years to get back to the old 1929 high. The Japanese stock market took 19 years 1990-2009 to get to a low. Everybody has saying Japan is a basket case for the last decade and their stocks are up +150% in the last 4 years. Gold took 19 years to reach its low last time 1980-99. It’s kind of interesting. Why did the 1929 stock market take such a short time to clear but other markets take 2 decades to reach a low? Who knows? Who cares?
Gold is down almost 44% , silver down 70% and the promoters are pushing them harder than ever. What does that tell you?
However gold’s action in the last 4 years is not that unlike silver’s action in 1974-77 so maybe there is hope but I wouldn’t hang your hat on it.
You might expect the 1999-2011 move not to be as extreme as the 1971-1980 move because mine production is now double what it was in 1980 and also there is arguably more international buying interest and not such a narrow market. So you have a more liquid market, despite all the BS from the goldbug crowd. Except for that, it is the same kind of bear market. Interestingly, the stock market breakout was also like 1982.
It will be fascinating to see what happens in this China stock market crash, whether it is a big bear market or whether it is like the 1987 crash. Everyone seems to think that China has just had it. Everybody I heard except Marc Faber wrote off Japan after Fukuskima in 2011 and it was the time to buy.
I think it is better to stay open-minded.
Fabulous charts on gold here:
http://www.sharelynx.com/chartstemp/AUBULLRUN.php
especially the 2nd and 3rd charts from the top. Tell me that this does not look like the arly 1980s!
Add to the above factors the US dollar bull market cycle as per early 1980s and US oil production increase as per early 1980s.
On the other hand Dave…
I wrote a thing in February 2015 about this but instead of using the 50% correction I used 61.8%, which was more readily comparable to the 1974-76 retracement.
This would see gold stop at $891 on the downside and then move up to $7000+ perhaps by 2024 or thereabouts. Its much more thorough than that Goldseek article but nobody ever read it.
http://1000gold.blogspot.co.uk/2015/02/essay-on-gold-comparing-current.html
Essay on gold – 12 February 2015
Comparing the current gold bear market to the 1974-76 bear market.
I offered the article to a couple of sites but they didn’t want it, so b***ocks to them. Those sites are all goldbug promoter BS anyway and will go the way of the Dodo bird as they should.
I tried to make that article linked above a balanced one For instance I noted that:
“Gold has just broken above 1000 Euros and also 1200 Swiss France and 800 British Pounds as of 8 January 2015.”
Interestingly all those signs are in the act of being negated. Gold is under $1100 US and is at 1001 Euros and 701 British Pounds this morning. In fact this week’s rout took them under 1000 EUR and under 700 GBP temporarily so all the upside has been wiped out.
Gold is at a new multi year low in Pounds Sterling despite the strong dollar (so it is not just dollar strength) and it is at risk of losing 1000 Euros which could mean that the Euro gold rally of the past 1.5 years was just a bear market rally. This is reminiscent of the early 1980s in a major way.
If you look at the yearly candlestick chatrt in that article it puts it into long term perspective (this chart was done at the end of 2013 when the low was still $1180).
The uprun in the gold price in the 2000s decade was huge (although it would not look so big on a log chart in price, it was long in duration, 12 up-years in a row) and demands a large and long term correction, perhaps a secular bear market.
The only possible consolation is that the gold price does not break down out of the last 2 years’ trading range (it is right at the bottom of the trend channel right now), then it could have a trading bounce as Rick Rule says, maybe to about $1250-1260 on past form, around $50 below the last high of $1308.
Good food for thought…………………….ootb
Why not just print your article here Dave? If its original material and of interest to the crowd here then I am sure it would be welcomed by all. Bring it on.
DITTO…….
GREAT INFO…….SILVERBUG…………………….thanks……THE BOOT CCF
Poor old Rick – well, he’snot poor is he I guess but he is tyrying so hard to put lipstick on the pig.
We are in the midst of a trading rally he says. Where? I suppose he means right at the start of it as gold has just hit a new low.
$1080 was a predictable target for a bounce given the existing pattern of highs and lows stepping down about $50 every 6 months for nearly the last 2 years. However there could even be a move out of the bottom of this downtrend channel to as new and lower trading range then gold will have to double to get back to its $1920 high.
Maybe we are in year 2000 equivalent (which would be good) but maybe we are in a 1983./84 equivalent post bubble slump.
MAYBE…………..OR MAYBE NOT…………….that is the BIG QUESTION ………
Thx Matt from above.
I’m not here to win friends and have beef spot on. Hell I wish resources would rose again. We are getting so screwed by the Canadian Gov I’m SO SICK OF IT! We had a boom those bastards put nothing away for the dry times now their coming after more tax and becoming more socialistic it’s not funny at all. They dropped interest rates that helped crash the loonie MORE, Creating much more inflation due to the devaluation. Helped push housing into the stratosphere and are destroying the middle class that pays the taxes for all the dead beats that do nothing. Yes I wish commodities would go up but all
My info say no way in hell for a long while. USA looks good to me and thank god I moved some money there. I’m going get my gun I’m fuming at this over rated gates open to China country.
Sorry for the typo in iPhone sucks
On July 21, 2015 at 5:14 pm,
Frank from moscow says: commodities are up since 2000.
Are you doing trying to be funny?! Everything up from the 1800s..lol. Halibut was $2 lb when I had my restaurant 1989. $25lb now. Should have bought more and kept it in the freezer lol
Lithium battery’s in cars much the Same as your cell phone
Eric Sprott is a billionaire. I sold 80% of my hedge fund 3 years ago. Thank the lord it lost 75% by end of 2014. Hedge? What hedge? Any fool that admires someone because their loaded is a fool for sure. I waited for the rally this spring and dumped the rest. Eric has lost his marbles. Now….I guy I deal with wrote when gold was $800 said a rally to $1500-2000 was likely and then a crash would ensue. Today we will have some rally’s but a rough estimate is $500 10 years out. He’s bang on because he understands in great depth the economy’s and how they are tied. He sure as hell doesn’t have pin point accuaracy but is extremely good. We will analyze where it is most likely to trade into a rally but that’s it. Yes Chinas market crashed and repercussions are coming and maybe a global melt but no one and I mean nobody can predict that timing. Greece banks close and were people running around doing bus with gold a silver?!! Nope.
What happend to Birdman?? He’s write about electronic currency and gold will not fly.
Casey in 1980 told people to put their net worth in gold at around $650 and said it would go to $3000ish in 3 years (don’t qoute me on the exact numbers I’m making a point )
Well ya know what happened right?! Some did then died and left it to their grand kids. Decades later it finally broke even. That is happening again. Put this on your fridge. If gold rally any amount short it you will be much better off in the years to come. A fiend emailed Moriarty recently and he said Gold is in a bull market. We absolutely pissed our selfs laughing. If hate to see it in a bear market HAHAHAHAHA
Frank fro moscow
Was gold rigged to go from 300 to 1900$? But its rigged when it goes down??
You CANNOT manipulate a market other than very short term…No way no how…
That’s an interesting point. GATA and pals used to say that you cannot manipulate a market other than very short term – but they usually almost every day go on to say that every downmove in this bear market is a manipulation. Duh.
In other word, now we have a large cyclical or even a secular downtrend, pundits are calling it manipulation. It’s ridiculous.
I suppose if you had big central bank selling over a period of years the price could be driven down for years, since if there is a huge gorilla in the market holding 30,000 tonnes he can cap the market for a long time.
Frankly, I just think this gold thing has been a bull market followed by a bear market, period.
Silverbug I think your spot on. If you own a huge % of the market place then yes you can control it but this is not the case.
Strong US Dollar ?
Obama Nominates FX Expert To Fed Board Amid Strong Dollar Worries
http://www.wsj.com/articles/president-obama-to-nominate-kathryn-dominguez-as-fed-governor-1437422626