A focus on gold and the global environment driving prices
Craig Hemke from the website TFMetalsReport.com (click here to visit his site) joins us to focus on gold. He is concerned about the deflationary environment that we are in globally and seems some light at the end of the tunnel for the precious metals.
Click download link to listen on this device: Download Show
http://www.wallstreetwindow.com/node/11980
Market about to turn?
Agreed. He’s one solid turd!
I go to his site from time to time and enjoy the comments in his chat room as well.
Here’s another good video post with Craig Hemkey from Finance and Liberty:
Goldbacked Yuan & End of the Dollar — Craig Hemke
Published on Aug 17, 2015
Sorry – Craig Hemke (I looked at the spelling on the title of this article instead of the actual video).
Cory – his name is spelled wrong up above my friend. Not a big deal, but you may be able to edit it to Hemke.
SPOT ON………Turd F………………………….
Off Topic:
More comments about the wannabe Democrat president (a.k.a. unconvicted felon)
http://observer.com/2015/08/the-countless-crimes-of-hillary-clinton-special-prosecutor-needed-now/
The 50 dma for silver is just above $15.30. When was this recorded? It was $15.50 almost 2 weeks ago.
i have it (for SLV) at 14.67
The Coming Silver Rally Will Outperform All Previous Ones
Monday August 17, 2015
As one reads the fringe websites, there is a lot of talk about weird things happening next month.
Here is a collection, for the foil hat brigade, of many reference sites!
Possible things which might affect the markets in September.
Israeli Rabbi Says Messiah Coming
http://www.breakingisraelnews.com/445…
What is Shmitta
http://www.chabad.org/library/article…
Anno Lucis Year of Light
https://en.wikipedia.org/wiki/Anno_Lucis
UN Resolution for the State of Palestine Sept. 15
http://freedomoutpost.com/2015/06/un-…
Jade Helm 15 ends on Sept 15.
http://american3rdposition.com/wp-con…
International Day of Peace Septebmer 21
http://www.un.org/en/events/peaceday/
Yom Kippur (Day of atonement) starts the evening of Sept 21
http://www.chabad.org/holidays/jewish…
70th Jubilee year to start on Sept 23
http://www.markbeast.com/70jubilees/j…
Day of Arafat (Pilgrimmage to Mecca) begins Sept 22
http://islam.about.com/od/calendar/fl…
Islamic Feast of Sacrifice Sept 23-26
http://www.timeanddate.com/holidays/u…
Prophetic Time Cycle from Israel Recapture june 7 1967 to September 23, 2015
http://www.convertunits.com/dates/fro…
http://september2015.com/daniels-week…
Mayan Time Cycle in years to days from Sept 11 – Sept 23 (5126 days)
http://membercentral.aaas.org/blogs/s…
Madonna Tour east coast
http://www.madonna.com/tour
Pope Francis Apostolic tour
http://www.usccb.org/about/leadership…
500 Day Climate Change Limit
http://www.cnsnews.com/news/article/p…
Ground Zero Media: Rain of Terror: Iran hit with Comet (Connection to Climate Change)
http://www.groundzeromedia.org/the-ra…
Tomorroworld Festival
http://www.tomorrowworld.com/home
Feast of Tabernacles
http://www.sooj.org/
Four Blood Moons
http://www.endtime.com/four-blood-moons/
Debunked: https://www.youtube.com/watch?v=–kA2…
Articles about Economic Collapse in September 2015
https://www.dollarvigilante.com/blog/…
http://usawatchdog.com/debt-bomb-goin…
http://theeconomiccollapseblog.com/ar…
http://www.prophezine.com/index.php?o…
Chinese President to Visit America in September 2015
http://www.nytimes.com/2015/02/12/wor…
Now I must retreat underground and switch on the force field for protection.
I thought Id share this. I’ve been a big bad Bear for a long time and its going to be a LONG ways out for a new bull. Speaking of bears there was a 400lb bear in my back yard this am eating my apples LOL..
6:40 in http://talkdigitalnetwork.com/2015/08/high-grade-corporate-bonds-good-short-term-bet/
Gotta love good ol turd when he says physical will hold the floor for paper prices.
We all know that didn’t work at 1300, 1200, 1100. lol.
If physical does not hold price for PM they will be 0. They is nothing to stop them to create unlimited amount of paper to short the PM to zero if there is no physical demand. The only problem is physical demand will make the short default if them press it too low. So turd is correct. It does not mean it has to be the price if there is no paper market. They can still push it down with paper but there is a limit what they can do.
Lawrence:
You are too smart to be passing on nonsense. If you own any gold, you paid for it with paper unless you mined it. The concept that paper is somehow different than physical is irrational. Paper and physical are the same unless and until you drop it on your foot.
If you really believe someone can dump 10000 contracts on the market with no risk, pick a price and do the math for me for a $100 drop in price and a $100 rise in price. Every contract short has an equal and opposite contract long. do the math and show us how it’s possible to create contracts without an obligation to cover later.
Only an idiot would play in a market where manipulation is the key element.
All financial markets are manipulated and it doesn’t matter. If you believe manipulation matters, don’t play.
Before you claim what I said is nonsense, thank about following:
In case of there is no physical involvement, manufacturing a contract cost you zero. It is the longs who have to pay.
The shorts are central banks and governments so they can print unlimited amount of money.
Shorts don’t have to cover, they have just to roll over contracts until infinity. Even longs want to settle, no physical means they have to settle in cash. As long as shorts make sure the price goes lower as time goes along, they make sure profit.
Once price trend down is confirmed everyone including their dog will go short. The longs will be further weakened.
As the regulation for he exchange goes, once a stock goes to zero, exchange can choose to delist it or keep it there forever.
This is all under the assumption there is no physical gold needed. They don’t have to name it gold, name it dream as you like. It is the physical delivery which limits how low they can take e the price to.
That is why around 10 years ago some created a contract of uranium with no option to settle in physical and they have to shut it down quickly because no longs are interested.
Q
Sorry for errors due to use of cell phone.
Lawrence:
If you or anyone else sells a contract on the futures market, you have the legal obligation to buy a contract before expiration. When people talk about “manufacture a contract” they are talking about something that doesn’t exist.
Tell me how someone “manufactures a contract” If you sell you have to buy and if you buy you have to sell. That’s not theory, that’s not opinion, that’s fact.
You are mixing apples and oranges. Governments have the ability to print money without dealing with futures. That’s an entirely different issue.
If shorts never have to cover, and in a way you are a little correct, you do not have to settle, you can roll over the contract just by purchasing the long and going short again in a future month, logically you would realize the number of contracts has to increase and increase and increase. That’s not happening and hasn’t happened. If someone kept shorting the number of contracts would have to expand to infinity.
Those suggesting that some foul player is dumping contracts on the market are ignoring the fact that none of the numbers suggests that it’s happening.
Lawrence:
The S&P Futures, The DOW Futures and the NAZ Futures are all imaginary contracts. You cannot settle in physical and there are an equal number of longs trading every day with the number of shorts and it works just fine. You do not need a physical commodity to have a futures market.
The physical equivalent in S&P contract is shares, which is limited in quantity and cannot be created out of thin air. The company need permission to issue shares and most big companies don’t want to dilute themselves to nothing. TSXV is an exception.
In the future contract, PM still have value because shorts cannot afford to deliver the physical metal when requested.
Lawrence: Of course shares can be created out of thin air. It’s called “naked shorting” and is done in the stock market. It’s illegal but rarely enforced. There is not naked shorting in futures.
The S&P contract is not backed by shares. It’s an entirely fictional contract. You could call it the Widgets Futures if you wanted. There is no direct connection between the S&P futures and shares. And it still works. Gold could be an entirely fictional futures contract without any physical metal and it would still work. The purpose of futures markets is to determine price, not trade commodities.
I am trying to get my head around how the S&P futures tail wags the S&P 500 index dog – or even why S&P index futures exist in the first place, since is not a commodity like wheat to be delivered next month – unless pension funds are hedging against having to redeem a certain number of shares next month to pay outflows to pensioners for instance, since they will have an actuarial calculation of their future obligations to deliver money out of their funds.
By the way guys, I wonder about the futures market. Don’t a lot of long speculators have no intention of ever taking delivery in gold for instance? Are they not really ‘naked’ or scantily clad longs? They probably do not have the money actually ever to take delivery on their contracts – they are just looking to sell their contracts a few days or weeks later to someone else at a profit. That is why they can be so easily flushed out of the market – because they don’t really have the margin to stick with their bet if price goes against them even temporarily? It is these long speculators who pushed gold to $1900 – without them it never would have gone there (or to $850 in 1980). It’s just a casino.
Good show; I appreciate Craig’s comments and explanations. Personally, I was working on an old alarm clock this morning and finally applied a couple sprays of the old standby, WD-40. Clock works like it’s supposed to now.
Along these lines of thinking, these pm markets really need a shot of WD-40 to get off their duff and show us some positive direction! Anybody know how to apply it?
Ask Bob Moriarty and others that were pumping Gold last fall and the prior years. I called him a fricking clown last Nov and he was going to lose MORE innocent people money.
They have been conned over and over… If you followed MY advice last fall…A higher USD, Oil to blow out, and the US to be the best place and safest to invest…NOT in commodities..I was Right as rain.
Here’s one of Bobs many picks….A long term investment he said…LOL I hope so Bob…
http://stockcharts.com/h-sc/ui?s=PLG.TO&p=D&yr=0&mn=9&dy=0&id=p34248856743&a=420907867&listNum=1
If you like losing a lot of money there are many Experts like Bob around…LOL
“Innocent” people Bill? LOL! You mean people who refuse to think or take responsibility for themselves.
No Mathis
People that think that others have greater knowledge than themselves. They don’t.
The fact these guys pumping stocks in a bear market and continue to do so….Other hopefuls right here at this site praying that a new bull market emerged last year or last month or when ever..LOL
I was here to say many times their full of sh$t and I was right….
Howz your dead cat bounce going Matty?
Gold turns people into idiots…or just reveals that fact.
I’m still laughing, Bill. Oh, those poor, poor innocent people; what would they ever do without you? 😮
Well I told them to stay the hell away from gold addicts…Its worked pretty out well.
Yeah, you told them after they forgot to sell high. Now keep them away while grown-ups buy low. That should be easy enough.
Ya see Matty Bobbo declared he KNEW for SURE what was going to happen to the US..
Get your money out of the banks..Hell leave the country as its going to COLLAPSE….
He pumped his doom and gloom as still does today….
The top fund managers I know are Invested in the US!
Our fund is up 45% in 2 years….That’s on $160,000,000.00
Let see you pull that Matt man.
K! 🙂
You see when people are self confessed experts going around promoting selling and convincing people to do things like buy their crap and they are making money from it…Then when it blows out, the expert says your an idiot and you don’t take responsibility for your own actions…Then I HAVE A PROBLEM WITH THIS CON MAN…..
Turning $5k in to $10k is easy…Putting a solid 20% on say $150mil is a hell of alot harder.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 12, 2015) – Pilot Gold Inc. (TSX:PLG) (“Pilot Gold” or the “Company”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2015. All amounts are presented in United States dollars unless otherwise stated.
“Despite ongoing capital market challenges for exploration and development companies, we have continued upgrading our projects by extending high grade gold mineralization at Kinsley Mountain, commencing expansion drilling at TV Tower and carrying-out metallurgical and engineering studies,” stated Matt Lennox-King, President and CEO of Pilot Gold. “Through the second half of the year we plan to continue building value at our projects while tailoring our budgets and programs to reflect market conditions.”
Financial and operational highlights through and subsequent to quarter end:
Working capital at June 30, 2015 of $12.68 million (C$15.8 million)1.
Completed the $21 million earn-in to a 60% interest at TV Tower, and commenced the 2015 drill campaign focused on delineating copper-gold porphyry and oxide gold systems discovered or confirmed in 2013 and 2014.
Reported initial results from the 2015 program at Kinsley2, including:
2.34 g/t Au over 9.1 m and 3.46 g/t Au over 18.3 m including 13.7 g/t Au over 3.0 m in drill hole PK208, indicating a new mineralized zone located 150 m east of the high-grade Western Flank zone.
Additional metallurgical studies that demonstrate that the upper host rock horizon can produce concentrates through flotation with strong gold recoveries, augmenting the potential for low capital cost mining and processing.
Innocent is a euphemism for gullible I think in this case.
But Bob would possibly be right if he made the same statement today about Pilot.
HAHAHAHAHAHAHA classic comedy….
Brilliant investing
Thanks for that CFS!
I like guys that said get the hell out of the super cyclical commodities market years ago and moved back to the conventionals for one of the biggest bull markets in history..
If you are a trader, you cannot criticize Bob since you are looking at two different time frames. Bob sees gold is very low so it is a buying opportunity even it could go lower. In a long term people will gain since paper always get diluted. It is more a sure gain as price goes lower. So trader and fundamentalist are different style of investment. One is trend following and the other is value which requires buy low and sell high. If you are also a fundamental investor and your conclusion is gold going down from here forever, you’d better exam your conclusion. We know paper fiat is printed by central banks as a rule. You have to be able to justify that printing something at massive quantity can make its value going up. Is it possible?
Bill:
Without checking with your latest GURU, can you possible define long term investment?
Pilot is run by a guy who sold Long Canyon for $3.2 billion to Newmont. Pilot is and was a great long term investment. When you are whining about how the stock market crashed when you knew it couldn’t possibly do down and the dollar evaporated in spite of your guru telling you it was going to 120, I’m going to remind you of all your great calls.
In constant dollars the CRB is at a record low. Why don’t you short it if you are so smart?
My broken clock in the garage is right twice a day CFS!!!
Schiffs pretty sharp too. Check out the video
http://www.avaresearch.com/articles/1781/Can-You-Spot-A-Con-Artist-.html
You see the dollar was “USED ASS WIPE” Bob Moriarty’s words.
Schiff said its TOAST! LOL
Every fiat will qualify Bob’s description eventually. I have no faith in human honesty. People will repeat same mistakes again and again. I would not consider it is already that bad for the the time being but the direction is not good.
Well, I’m not worth $160,000,000.00.
Not yet.
Bill is worth about $3,000,000 according to him. I don’t know why he always brings up his friend’s funds under management. Rob Arnott manages about 1,000 times as much money.
Matty
I would never tell anyone what my company is worth…Thats cash account but who cares eh.
That’s not what you said the first time. In fact, you ridiculed me for not wanting to share my net worth and now you suddenly feel the same way. Funny.
I do note, however, that all those being criticized are a lot richer than I suspect the creator of the audio is.
El Chapo Guzzman has more money then Walmart.
Our mayor made his money moving drugs now he owns half the town….
I noticed that too. Stathis is the con. He supports his irrational and illogical assertions and accusations with just a smattering of truth. The recipe is great for reeling in guys like Bill who need someone to blame.
No Stathis actually has a track record and a good one, saving people from foolish investing practices.
Yes its all in the Returns in the investments we have made. Pretty hard to argue with numbers….
Bill:
If you think Stathis is anything other than a con man, you need serious help. He defines con man.
He’s removed this but you can still find it in google.
From Wiki:
Mike Stathis was born Moshe Stakinsky in Telaviv Israel in 1956. His father, who invented the crouton, was a recent immigrant from Czechoslavokia. His mother was a belly dancer of international repute, her stage name Le BelliBouton. He is a distant relative of Benjamin Hyman Bernanke, Chairman of the Federal Reserve Bank (USA) as his father’s brother was Bernanke’s sister’s music teacher. Stathis graduated the Hebrew High School in Telaviv and then attended the Kosher Cooking Institute of Jerusalem, graduating in 1978 with high honors in dinner pastries [B.C. summa cum blintzes]. ….He is presently employed as an expert commentator on monetary policy and the economy by several mainstream internet news outlets.
Bill:
This is the best article I have read about Stathis. He’s a con man.
http://thecivillibertarian.blogspot.com/2014/07/weeding-out-charlatans-sunday-collage.html
Its the only one and its crap.
You just have to bring your name up around family or friends and Poof!
I love the Wiki on Mike…… His father invented the crouton and his mother was a belly dancer of international repute…….
Can someone actually invent a crouton? That sounds like the con job….it’s just dried bread that people threw in their salads and soup. Then I’d like to go on record as the inventor of the cheese cube.
The chube?
The chube (now trademarked and patented). It is done.
For some reason I keep cracking up when I scan down and see the word chube. 🙂
I needed a laugh this morning.
2 months ago I told Birdman here I was going short oil…
http://stockcharts.com/h-sc/ui?s=HOD.TO&p=D&yr=0&mn=6&dy=0&id=p70072366558&a=420920114&listNum=1
And I thought, with the summer driving seasonality, that we might get a sideways period. I was wrong.
I mentioned oil was going down into the $42-$38 range multiple times a few months ago, and that we didn’t get the lows the first time around. That wasn’t a popular opinion when people were just sure Oil was going to $70 and then $80 by years end. I knew the calls for higher oil were rubbish, and was convinced oil would pull back and now it has.
_________________________________________________________________
On May 6, 2015 at 8:31 am,
Shad says:
In fact, the lows in oil are likely not in yet, and I was waiting for a $38-$40 range last plunge, and feel we’ll go back and tag that area in the next few months
On May 13, 2015 at 9:42 am,
Shad says:
Also when oil reverses (and I’ve targeted the $64-$66 range for about a month now as it’s ceiling). This will be the summer reversal, and time to get out of the way of the whipsaw, or trade it back and forth if that suits your fancy (risky though).
On May 18, 2015 at 9:13 am,
Shad says:
I also think when oil tops in the near term and turns back down and blows through the $50s into the $40s that this should time out with the Fall as well and create the real panic in the oil patch when everyone realizes the rebound we are seeing now isn’t going to stick.
On June 9, 2015 at 12:12 am,
Shad says:
He sees oil be stuck in a range between $45-$70 for years. I tend to agree it will being stuck in that range for a while. The range I’ve discussed frequently since March was a potential grind down to $38-$40 with an upside in the $64-$66 range. The Grind continues…
On June 23, 2015 at 10:15 am,
Shad says:
Until I see a breakout one direction or the other, and we stay in the this range, then I’ve been saying since Feb that we’d have a slow grind down in June-Aug in the PMs and commodities. I think Oil will still head lower as well.
On June 25, 2015 at 11:12 am,
Shad says:
Thanks Jason… I am thinking that Oil will still get another big pullback in a month or so, so DWTI would make sense when that is signaled.
Cheers!
On July 3, 2015 at 5:57 am,
Shad says:
Yep. Oil can still fall a little further throughout July, and I was debating getting in on the DWTI trade last week and should have, but hesitated.
What do folks think about:
I personally would not touch GLD , unless I planned on selling on a short time frame.
CFS.
There is a pretty good over supply out there. After a LARGE resource boom you have capacity up the wazzo and the economies are in the parking lot..
We are shooting for maybe low $30s by fall??? Easy money is gone though..
It doesn’t mean he is smarter than you CFS JUST because he has a pile of dough…
Many multi millionaires a even Billionaires lost their shirt in the resources collapse.
The trickle down is not even felt yet…
Ya see the Canadian Gov starts shitting bricks if things don’t bounce quick (Not going to) as the royalties / tax revenues are toast…Let the handouts begin its election time!!
Bill:
It’s funny how you think you are smarter than everyone.
Druckenmiller is a whole lot smarter than both of us and buying low always makes sense. I may have mentioned that a time or two. You didn’t get it then and you don’t get it now.
I’ve heard that before LOL
Did you not here what I said last year?
But your right. If an absolute idiot like me can make FAR better predictions than you from some logical research…..ohoh Maybe I better fire up a web site? But I don’t preach doom and that resources would be a safe haven….Safe haven my ass…
SHOW ME WHERE YOU SAID GET OF OF RESOURCES PERIOD?
You mentioned numerous times you would let people know when to sell all. As a few of my mates were invested and admitted they wouldn’t know when to leave the sector…AND were relying on YOU and you assured them numerous times. Oh ya man I called the top in the 80s….
Fortunately for me I sold out….They were listing to you and a few other clowns….I think you mention to average down when things fell apart. Then the wheels REALLY flew off the bus.
Your a high stakes gambler Bob….I’m an investor bases on solid fundamentals….
Go retire money bags cause you suck at calling the economy and markets.
Bill:
In the 14 years I have run the website everyone but you realizes that I don’t give trading advice. I point out where things are cheap and when things are expensive but I don’t tell people to sell ever.
Everyone else gets it but it’s way too complex for you. Buy cheap and sell dear means you have to think for yourself which you seem to be incapable of doing. You need a GURU so you can have someone to blame.
You are a whiner who needs someone else to blame for your mistakes. I have never taken a penny from you, I have no idea of what you own or when you bought it or what you want to do with your money. Basically it’s your money and I am not responsible for it. You are and you refuse to admit that.
Whine all you want, it says a lot more about you than it does about me.
Everyone else? LOL
I know 50 people that don’t look at your website anymore for a reason….
If I was as accurate at my job as you are with markets I wouldn’t have a company to run…
Why the hell did you spend so much time fear mongering about the EVERYTHING?
Its the only game in the world that you can destroy people and not go to jail.
Check our your long term picks….from Feb….Jesse you have to make 100-120% to break even.
LOL Go read what I said to you last Nov ya goon.
Ya know who made money in the old gold rush?
Today gold sellers and advertisers…
Your still pumping crap after 4 years f a bear market….Good money in sell inf Ads eh Bob.
Ya liar and a crook….
I can’t help myself Bob ya got me all wound up!
Ya see I pointed out to you last year there would be NO dollar or DOW crash like you said. I said USA would be the safest best place to invest…Now you tell me I think I’m smarter then everyone else!??!!??? I never said that…I’m an idiot but better then most..I’m one of the most honest person I think left on earth…I’ve never screw a person on a dime..I always help other and expect nothing back and my neighbor love me for my free backhoe work..LOL
Well my ego isn’t near as big as yours as I have no Idea how a fat head like that fits on a pillow…
You wrote a piece and mentioned that Allied Nevada would go straight back up?! Its was still in the Dollars area….
You don’t give trading advice?!! Are you shitting me???
You belong in jail…Fear-mongering promoting clown. My neighbor would love that as he lost his shirt on your crap…I can’t STAND people that have no integrity..I know A LOT of things you said in the past in emails to my neighbor……Boy what a manipulator!
Bill:
Running your mouth whining is not something I have done for you. You were pissing and moaning before I posted a piece.
Bill:
This is what I said. I mentioned 12 stocks. I gave facts and opinions about them. This is what I said about Allied Nevada
“Allied Nevada Gold (ANV-T) is highly leveraged to gold and as such has gotten creamed since gold hit a high in September of 2011. The stock was $46 a share then and $40 a share as recently as a year ago. I made my mind up to do an article such as this on Tuesday of this week when I met with Carl Pescio at the San Francisco Gold Show. His shares were $3.26 when we talked and even I thought that was pretty absurd.
Markets go up and markets go down. The gold market went up every year from 2001 to 2012. Nothing else has ever gone up 12 years in a row and gold isn’t about to go up 13 years in a row. All markets correct. Gold went down more from 1975 to 1976. But I can’t remember seeing any market where really good companies go down 94% such as ANV has.
The company has put in a number of cost cutting measures and is still making a profit. I like the management, I like the project and if you believe gold will go up, Allied Nevada is going to lead the pack higher.”
When I wrote that Allied Nevada was $3.50 a share. As I suggested, gold rallied, ANV went to $7 a share four months later. Everyone who invested had a wonderful opportunity to make money. It was good advice but I apologize, I didn’t personally send you an email and tell you to sell.
But anyone who listened and bought cheap had a great chance to sell dear.
If you think that was bad advice, maybe you need to spend more time with your new GURU
New Guru…Your struggling because your full of SHIT man…LOL
You don’t have a clue where capital is going….always have an answer with that huge I’m never wrong..Ego…
But the US is TOAST…eh??? Change your tune?
Go door to door and sell bit gold in Greece…LOL
Do you know JFT? Ya I know and follow him for 16 years. 2011 call SELL YOUR RESOURCES. Last Dec SHORTING OIL and other commodities on any rally.
How did it work out for us…..Bullish as hell on the dollar last November to…Still are….
We will be right and all the gold cons can pack sand…
Maybe listen to Hoye to you might learn something.
Get back to your CASH COW ADs as you have guaranteed money there eh?
Wow Bob
ANV….you know how many your wrote up went straight down like in Feb…Far more then went up LOL
“In the 14 years I have run the website everyone but you realizes that I don’t give trading advice. I point out where things are cheap and when things are expensive but I don’t tell people to sell ever. ”
Why did you your a F liar!! You said WATCH THE SITE ILL TELL YOU WHEN TO SELL ALL.
You want to tell Paul my neighbor that. Hes got a memory like an elephant..Remember I told you hes got a drilling company.
Bobbo your so full of SHT.
Buying Gold makes sense to me. I’m not sure buying GLD makes sense.
Bob
WTF is your purpose?
Bill:
You need to get a life. I’m not responsible for your problems. You might start with growing up and taking some responsibility for your own decisions.
What’s the difference, CFS? Are you saying you would only buy physical gold and hold it? He’s way too big to do that, his options are either futures or GLD. I think it makes sense. Anyone buying any commodity at historical lows is making an easy bet.
Druckenmiller was also George Soros’s right-hand man at Quantum, Soros’s famed hedge fund. Quantum’s now legendary 1992 trade shorting the British pound was Druckenmiller’s idea. It made Quantum about $1 billion. People say the trade “broke the Bank of England.”
He’s a lot smarter than I am, obviously.
However, I believe there will come a time when there will be a failure to deliver on the COMEX. And those long in GLD will be settled out in cash at that time (probably just before the big increase in price) and not be holding gold through the increase, as they had thought they would be able to.
I suspect Druckenmiller will be able to handle that problem, however, whereas someone like me could not.
It may even be that Druckenmiller will be the person that empties GLD of much of its physical; something I could not do.
CFS: Yes, there could come a time when gold futures are settled in cash but that has always been true. The regulations allow for cash settlement otherwise anyone with enough money could corner gold or silver or any other market. But we have been hearing for ten years how Comex is going to fail. Come isn’t going to fail. The purpose of the markets is to determine the correct price for any commodity and they work just fine.
It doesn’t matter if settlement is in cash or kind.
GLD on the other hand has 100% coverage. Druckenmiller cannot ever empty GLD of physical. When he bought GLD they bought physical gold and when he sells GLD, they will sell the same gold. If he wanted delivery of that gold, he could take it but the people at GLD don’t care, there is lots of gold around.
Thank you for your comment, Mr. Moriarty. $300,000,000 is a lot of physical purchase, not to move the market price of gold, so I wonder how much physical versus paper GLD actually holds. I tend to be distrusting until verified, but that’s just me. You’re more knowledgeable than I.
CFS:
Actually $300 million isn’t much money in the gold market. One contract is worth $110,000. It’s less than 2800 contracts.
Mark Dice’s free offer: You too can have some arsenic flavoured energy drink….Have a nice day.
99.9% BS
How come you know so much Bill?
Or are you saying that the American people aren’t gullible at all?
http://www.paulcraigroberts.org/2015/08/17/gullible-americans-forever-paul-craig-roberts/
And cyanide-flavored drink tastes so much better, with its almond flavor.
Although I do prefer hazelnut myself.
The lady I work with eats small amounts of cyanide to counteract other health issues. I’ll mention to go with that almond-flavored poison : – )
Eat your apple and apricot seeds for your healthy cyanide.
Yes, I actually take supplements that have Apricot seeds as my “healthy” cyanide. It is supposed to knock out everything from cancer cells to bacteria and viruses. It reminds me of the pirate in the movie Princess Bride that ate small amounts of poison over time to slowly become immune to it…..
Battle of Wits “Princess Bride” – The poison scene
PT Barnum, “there is a sucker born every minute”
I see the Yen-hedged Japan funds keep plodding on upward……QE works, kinda.
e.g. DXJS.
Every time somebody mentions copper I REACH FOR MY GLOCK. Just sayin’
I would have had you pegged for a Kimber or better. Just kidding, Glock makes a great tool.
Glocks never jam I’m told!
I’ve heard that too. 😉
jUST stick to a REV olver………………….
There’s something to be said for that, for sure.
In other news, this is worth reading…
http://www.321gold.com/editorials/thomson_s/thomson_s_081815.html
Nice copper chart FranSix. Thanks for posting it.
BTW guys Rambus been nailing it for few years himself and he’s using also waves. he has lower target then Avi does but close enough
http://news.goldseek.com/GoldSeek/1439211720.php
Stewie,
Those charts and explanations were great! Thanks
Interesting thoughts from Rambus. Thanks.
Stewie
I have enjoyed the EW discussion, today.
Most TA systems, that I have researched, do well when the trend is ongoing and plain to see. But very few, maybe NONE, are able to really pick major trend changes/pivot points. And, of course, I realize most tools are just trying to divine trends from apparent chaos.
The one thing that bothers me about EW theory is the continual re-assessment of the historical wave patterns, by the true believers, to better fit their model.
Agreed. EW is more of an art than science at times, and experts often have to go back to the drawing board when new trends and market data debunks the wave count they thought would play out. However, I find when analyzing individual stocks, stock indexes, or any chart, that Elliot Wave is a helpful tool, and many times the 5 waves move, and then A/B/C 3 wave counter-trend moves are easy to spot, and this can help on projecting where prices will go, and the Fibonacci support or resistance levels price may intersect.
Brian:
Bingo. You win the prize You just nailed it
……well this thread sure has been an interesting read.
Sure was. Hey Skeeta, looks to me like copper will bounce just about any day now. Right around spot 2.25 at an eyeball guess. Take a look at the monthly chart and run a diagonal line up along the bottoms that come in at 2002, 2009 and 2015 to see what I mean. Then intersect it with a horizontal off today’s price to pick up the support from 09 and late 05…..It may be telling us something about gold indirectly. There is a similar chart pattern on Brent Crude (although with different dates going into the past) and that one is also suggesting both Brent and WTI will hit an interim bottom very shortly, possibly within days. My problem here is with more precise timing but I am leaning strongly to crude, gold, silver and copper all making moves higher beginning next week.
My concern mate is that possibility will be a trade only,
Deflation is a long winded process….sort of like a never ending nagging wife.
Its a slow grind down until you everyone begs for mercy finally.
Its my opinion that when commodities do bottom, that not all will rise simultaneously.
Iron Ore, Coal, & others still look susceptible to me…..will they fall further? Or just lag other commodities? ….I don’t know. But they don’t look strong to me anytime soon.
Everyone sedms to be talking about a bottom in September or November?
…..I’m still sitting on the sidelines ATM…..it could be 6 months or more after that IMO.
Cheers.
“Deflation is a long winded process….sort of like a never ending nagging wife.”
Hilarious Skeeta!
I thought last week was next week, which is this week.
If I recall Doc said something about 1130 (1125 was close) then tanking.
He aid a couple other things but that might be the closest.
Doing our best here, bb. Don’t make any bets based on my ideas though. There are no perfect traders.
By the way I recall Doc saying he felt metals might have to double bottom before we get that bounce. An inverse H&S would do just as well though. Take a look at silvers chart today.
yes indeed it is an interesting comments imo due to Moriartys input though the allied nevada is very disturbing….they are in bankruptcy proceedings..
Mathew. You dont know what the hell you are talking about. Do you have my facts book?
I told them to sell at the VERY high. I sold my silver at $49. It was a Sunday night and I was at my fathers and silver was rocketing. I made the sell call Monday morning. I was getting calls in the prior months about buying silver from people that never bought an ounce. I sent out an email that I sold. There were stocks that went from a dime to $5. I sold. They were holding for more.
Heres were I have the problem. The bull market ENDEND but the same contunued to pump for the last 4 years.
Its a super cycle!
Nothing has changed said Bob M
It was the worst time to go into buisness. Bob M. ( no Bob it was a great time just not for commodities)
The banks are going to crash again. Bob M
Trade silver for Gold. Bob M
The list is long.
So Mathew you make clams about what I did?! Wow I work on facts.
Drop an email and I’LL send you a trade receipt for the philysical I sold.
That;s one email you will never get, Bill.
Bill, Although I also sold a lot of silver at those prices, I don’t believe $49 at 2011 is equivalent to $49 in 1980. Do you ?
No not at all Larewnce but neither are penny stocks.
It was a mainia just not a massive one. I told so many people to buy silver / gold in 2000 and they never did. They took interest in silver maybe at $35. Then in the $40s they wanted to buy. Thats a big indicator. The fact that a guy bought my 3000oz at the store at $49 thinking that There was another 10% is very poor investing.
Hey I wish there was a big bull brewing but I don’t see it.
Also it has been revealed that China has buying alot less PMs then the gold bugs would like us to believe. As I said a few times….China is not an n good shape at all and if real trouble were to arises they would most likely be sell PMs to cushion the fall.
It’s difficult because news is so manipulated I do not trust much out there. I dont think markets are manipulated much but it is the news that surrounds them. Primary trends can only be bumped.
And what I mean by Pennie stocks is you have to buy a lot more these days to make it worth while…Silver was a super bubble 1980 and way over priced 2011.
One can’t define a price derived from the 80s bubble….
Whats silver actually worth?? While it depends on the manufacturing demand more then anything…I would think $10 ounce is plenty…???
You obviously don’t understand speculating, Bill. The penny juniors are high risk, high reward. Therefore, you have to buy a lot LESS to make it worthwhile. ESPECIALLY “these days” while they’re so cheap.
Even a guy with just $5,000-$10,000 to gamble with can make life-changing gains by getting into the right plays in this market. You buy right and hold for big gains. MOST cannot trade their way to riches but that doesn’t stop them from trying.
Mathew oh yes I do thanks. It has to be the right kind of market.
Like in 1995 before the NASDAQ began a behemoth boom and a rally that made gold stocks look like childs play. Nortel went from dollars to $124 if I recall.
I dont believe there is any opportunity like that today. If gold stocks had of went NASDAQ I would be worth a 100 mil. Unfortunately inflation killed off the major returns that I expected. I got that wrong.
Bob said gold stocks would be the next Google. Not even close and ridiculous. But he doesn’t remeber saying that of course.
Your fury about the action in 2011 has clouded what little good judgement you might have had, Bill. That run was not even a true bull market for gold let alone the miners. You haven’t seen anything yet.
Poof is in the pudding Mathew.
Wish you were right but far smarter people then you and I say a big fat NO.
It’s axiomatic that those who say “no” are far less smart. They can’t know what they don’t know.
I’m looking at these CRUSHED energy producers and I am very glad I’m not in the commodities market at all…..
Mart lost 60% in a 1.5 month..I said 9 months ago gambling in these commodities is VERY high risk…I said BE CAREFUL!!! Its a LONG TERM bear…
http://stockcharts.com/h-sc/ui?s=MMT.TO&p=D&yr=1&mn=0&dy=0&id=p74972294265&a=420754788&listNum=1
Bill, so you told your friends to sell high and they didn’t listen. Maybe you should direct your anger at them. Did you somehow miss that Bob was also calling the top at that time?
The bond market is going to crash. Boob M
Nope in fact Bonds have been a brillant place to be. Interest rates will stay low for years.
Things will plug along at least for another year or 2. I can’t predict any further for now.
Just look at Japan and their deflation. That may be our plight.
Gold nugget heads.
OMG I just said that! They stole my material.
Aug 15 9am 6min in
http://www.cknw.com/audio-vault/
One does not need gold in a deflationary environment. Nothing has changed for years.
I did mention printing will not destroy the dollar. They didnt print near enough.
Also I never said things were great but plugging along.
Did you here that!? Canadian per barrel $19 crude!!!!? Very few can survive on this type of margin.
Govs are screwed here.
REV to answer the above.
Who isn’t gullible? 99% of the web is crap. FEAR sells…Unless YOU have boots on the ground I wouldn’t believe anything…The main objective of sites is to drive traffic. American Gov is not that stupid. China has major fire power..
Even respectful people cant get the markets right or anything else. Just go to 321Gold…its like a tabloid…One of the FEW guys that has a clue there is Puru Saxena.
I like SKI too as it takes out the emotions and it plays it safe…
Bob said there was a top in silver and my bud Paul has an email from Bob that said switch to gold. How smart was that?
It was a sell all and run from anything to do with resources.
Mathew…from above..People relyed on people like him to get out safe and sound. That didnt happen.
Hell I think Gerald Celente bought all his gold at the top. Stathis warned years in adance that a major top would come between $1500-2000 area and the dangers of buying any where near a top so how is he a fraud? JFT from Sprott did the same!
I know your a pretty sharp guy Mathew but I question everyone as nothing is gauranteed but death and Taxes?
It was very smart to switch from silver to gold since gold gained another 25% or so in the next few months. Remember that they peaked many months apart.
Smart buuuuuut risky. I rode it down a bit then plugged it all out.
Minners may be helped by the oil meltdown??
Turd
Keep up the solid-solid work…..you also seem like a real ‘good dude”!!