Weekend Show – Sat 26 Sep, 2015

Fundamentals and Technicals

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Al KorelinCory FleckRichard PostmaValentin SchmidAxel MerkAvi Gilburt
Gary ChristensonChris TempleJeff DeistJay TaylorTrevor Walker
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  1. On September 26, 2015 at 1:02 am,
    Bob UK says:

    ‘Germany in a state of SIEGE: Merkel was cheered when she opened the floodgates to migrants. Now, with gangs of men roaming the streets and young German women being told to cover up, the mood’s changing’


    • On September 26, 2015 at 1:18 am,
      Bob UK says:

      With this mess just growing and growing in Europe it is hard to see how the USD will not continue to rise against the Euro.

      • On September 26, 2015 at 7:43 am,
        Big Al says:

        I have to agree with you,Bob.

        • On September 26, 2015 at 8:38 am,
          silverbug dave says:


          “Those whom the gods wish to destroy, they first make mad. We must be mad, literally mad, as a nation ”

          “Those whom the gods wish to destroy they first make mad.”
          Anonymous ancient proverb, wrongly attributed to Euripides. Enoch knew his Classics. A man ahead of his time by far. The speech was delivered on 20 April 1968. Of course, it was seen as racist and Powell has been vilified by the establishment from that moment on – even after his death, by those who happily destroyed his political career.

          • On September 26, 2015 at 8:42 am,
            silverbug dave says:

            ‘The other dangerous delusion from which those who are wilfully or otherwise blind to realities suffer, is summed up in the word “integration.” To be integrated into a population means to become for all practical purposes indistinguishable from its other members.
            Now, at all times, where there are marked physical differences, especially of colour, integration is difficult though, over a period, not impossible. There are among the Commonwealth immigrants who have come to live here in the last fifteen years or so, many thousands whose wish and purpose is to be integrated and whose every thought and endeavour is bent in that direction.
            But to imagine that such a thing enters the heads of a great and growing majority of immigrants and their descendants is a ludicrous misconception, and a dangerous one.
            We are on the verge here of a change. Hitherto it has been force of circumstance and of background which has rendered the very idea of integration inaccessible to the greater part of the immigrant population – that they never conceived or intended such a thing, and that their numbers and physical concentration meant the pressures towards integration which normally bear upon any small minority did not operate.’

            A man in touch with reality made this speech. A man with imagination and knowledge of history. Obviously, he was therefore destined to be hounded from politics by the dastardly, stupid and incompetent colleagues in his midst. Powell was popular with the people: therefore he had to be stopped and put down, ruthlessly – and he was.

            However, his words will resonate through history like a prophecy.

      • On September 26, 2015 at 9:19 pm,
        Bentnail says:


        The immigration issue is part of the New Age agenda. Not a huge surprise in my opinion.

        • On September 27, 2015 at 9:57 am,
          Big Al says:

          I have to believe that you are right, Bentnail.

    • On September 26, 2015 at 2:14 am,
      CFS says:

      Read “Uncivilization” by Gregory R. Copley, a book published in 2012, which suggests (among other things) that if Libya, Egypt, Iraq and Syria are destabilized by Obama’s support of the Muslim Brotherhood, then waves of Islamic refugees will cause an invasion of Europe and an Islamicization of Europe more complete than the Moorish invasion into Spain in the Dark Ages.
      Obama is clearly more brilliant and devious than even I anticipated!

      Europe will have a muslim majority within two generations, it appears.

      What a sad consequence for the women of Europe! (Having to live under Islamic repression!)
      (Not to mention homosexuals, for which the penalty under Sharia Law is death!)

      • On September 26, 2015 at 7:34 am,
        Bob UK says:

        The comments below this article about what is happening in Finland tell a story:


        • On September 26, 2015 at 12:34 pm,
          silverbug dave says:

          “What a sad consequence for the women of Europe!”
          It serves them right for being greedy.

      • On September 26, 2015 at 7:44 am,
        Big Al says:


      • On September 26, 2015 at 8:28 am,
        silverbug dave says:

        The key phrase in your comment is The Dark Ages but the new dark age is the result of our leaders not the immigrants.

        I tell you one thing though: it will be the end of feminism. There is always a silver lining.

        • On September 26, 2015 at 9:17 am,
          A Listener says:

          Hear Hear! If I ever have to listen to one more stinking, idiotic word from a feminist for the rest of my sorry life I might just kill myself. I would not wish Sharia on them, but holy crow…..when does the bitching ever end.

          • On September 26, 2015 at 9:30 am,
            A Listener says:

            Referring to the extreme feminists of course (not talking about feminism in general).

        • On September 27, 2015 at 9:59 am,
          Big Al says:

          Aside from the fact that the immigrants do take advantage of the “leaders”

      • On September 26, 2015 at 8:29 am,
        silverbug dave says:

        Have you ever read the Bible? It is the same in the Old Testament for those people you mention.

        • On September 26, 2015 at 7:00 pm,
          kando says:

          Gold miner’s turn to faith still stirs his son. http://bit.ly/1KFRpGK

          • On September 27, 2015 at 10:00 am,
            Big Al says:

            Thanks for that Kando!

      • On September 26, 2015 at 10:44 am,
        Bob Moriarty says:


        You need a history lesson unless you are determined to create your own facts. It was actually Israel who advocated “Destabilization” of the middle-east.

        I quote,”Rather than pursuing a “comprehensive peace” with the entire Arab world, Israel should work jointly with Jordan and Turkey to “contain, destabilize, and roll-back” those entities that are threats to all three.”


        Are you suggesting that Israel not only wants to destroy the Middle-East, but they want to destroy Europe as well?

        • On September 26, 2015 at 12:39 pm,
          silverbug dave says:

          “The best laid schemes o’ Mice an’ Men,
          Gang aft agley,
          An’ lea’e us nought but grief an’ pain,
          For promis’d joy!”

        • On September 27, 2015 at 10:01 am,
          Big Al says:

          From what I have read, Bob is correct.

      • On September 26, 2015 at 1:27 pm,
        Jason says:

        They had it coming when they stopped breeding and went full left wing.

    • On September 26, 2015 at 7:42 am,
      Big Al says:

      Many thanks for the update Bob!

      • On September 26, 2015 at 12:09 pm,
        Excelsior says:

        Great weekend show once again Big Al & Cory.

        The sections with Valentin, Axel, Avi, Doc, and Chris were well said.

        Good stuff and much appreciated!

        • On September 27, 2015 at 10:02 am,
          Big Al says:

          We truly value all of our guests, Excelsior!

          Thanks for the kind words.

    • On September 26, 2015 at 8:48 am,
      silverbug dave says:

      It’s supremely ironic that below that article there is an advert:
      “22 EPIC Cheerleader Fails That Are Too Good!” with some cheerleader showing her legs almost up to the crotch. Women voters have brought this upon themselves. Before women had the vote there was none of this nonsense. How’s that for a contentious comment!

  2. On September 26, 2015 at 1:21 am,
    Bob UK says:

    I am doing a Doc at the moment – holding in cash, hoping that Avi is right about the conventional markets about to bottom…. and really, really, really hoping that Gary Savage’s October 7 YCL bottom crash occurs.

  3. On September 26, 2015 at 4:22 am,
    FranSix says:

    CNBC reports US Treasury yields closed with a negative rate on Friday:


    via Yahoo! Finance

    Yahoo finance reports negative yields on treasuries:


    • On September 27, 2015 at 8:24 am,
      Brian says:

      Thank you of this important nugget of information

    • On September 27, 2015 at 10:13 pm,
      Excelsior says:

      Agreed. Thanks FranSix for the bond yield update.

  4. On September 26, 2015 at 4:42 am,
    CFS says:
  5. On September 26, 2015 at 4:44 am,
    CFS says:
    • On September 26, 2015 at 9:39 am,
      A Listener says:

      Kind of looks like it CFS. This is about the worst thing imaginable. And she did it to herself. Greed knows no bounds. I would not support her any longer.

      • On September 27, 2015 at 10:13 am,
        Big Al says:

        did you ever

    • On September 27, 2015 at 10:12 am,
      Big Al says:

      Don’t count your chickens, Professor!

  6. On September 26, 2015 at 4:46 am,
    CFS says:
    • On September 26, 2015 at 8:59 am,
      silverbug dave says:

      What happened. Eric King does not say, “You are about to hear a TREMENDOUS interview,”- just an interview. Can’t be much good then!

      • On September 26, 2015 at 4:39 pm,
        Bill says:

        Tremedous! Lol. Hes the biggest clown ive ever crossed. 5 min and of you havent figured out that fool your slotted to the same file.

  7. On September 26, 2015 at 5:16 am,
    Gary says:
    • On September 26, 2015 at 6:54 am,
      Bonzo Barzini says:

      Gary, I agree with you, but Doc doesn’t for now. I wonder what he sees that we don’t?

      • On September 26, 2015 at 7:04 am,
        A Listener says:

        Agree also. If it takes out the 50 day we could go all the way to 1225 ….. and I say that with a straight face. What my real question is though….what is this telling us about a possible break down in US equity markets?

        Janet faltered the other night….the Fed no longer has our backs.

        • On September 26, 2015 at 9:42 am,
          Big Al says:

          Don’t think that I agree quite yet!

          • On September 26, 2015 at 9:58 am,
            A Listener says:

            Its all in the time frames we use. Maybe we will all be right.

          • On September 26, 2015 at 12:45 pm,
            silverbug dave says:

            Over $1240 would be a breakout from the falling wedge of the past 2+ years.

        • On September 26, 2015 at 4:16 pm,
          irishtony says:

          Get real ..BIRD..the FED has nobodys back.

        • On September 26, 2015 at 6:45 pm,
          RICHARD (DOC) says:

          A Listener; do you mean the 50 week MA instead of the 50 day MA which we’ve already compromised?

    • On September 26, 2015 at 8:43 am,
      Gary says:

      I have a bet with Doc. I think we get a strong rally maybe starting next week. He showed me what he’s looking at and I showed him my reasoning. We’ll know soon who’s going to get this one right. 🙂

      • On September 26, 2015 at 9:09 am,
        Bonzo Barzini says:

        Should be more exciting than King Kong vs. Godzilla!

        • On September 26, 2015 at 12:47 pm,
          silverbug dave says:


          • On September 26, 2015 at 12:48 pm,
            silverbug dave says:

            I am longing for Doc to be wrong on something. However it is an awful long wait!

            Unfortunately, it may be when the world as we know it comes to an end. Even then, Doc might nail that one as well.

        • On September 26, 2015 at 1:04 pm,
          A Listener says:

          Hmmm, this will be interesting. Doc is a pretty darn good chartist but Gary has the gift of seeing into the future. They can’t both be right. We need a Doc versus Gary showdown. Maybe they can wrestle in Jello or something.

          • On September 26, 2015 at 4:18 pm,
            irishtony says:

            I go with DOC.

          • On September 27, 2015 at 12:51 am,
            lorenzo95 says:

            Let them wrestle Yellow Jello

          • On September 27, 2015 at 12:53 am,
            lorenzo95 says:

            …in Yellow Jello

      • On September 26, 2015 at 9:22 am,
        A Listener says:

        Doc is watching the weekly Bollingers and they are not telling us gold will rise but monthly is in complete conflict and shows tremendous upside lies ahead. I will go with the big picture.

        • On September 26, 2015 at 10:01 am,
          Gabriel says:

          Also the tax season … again.

    • On September 26, 2015 at 10:30 am,
      Silverdollar says:

      I like your psychology input–different gurus to call the turn. One of the biggest mistakes many of us make is our tendency to think in a linear fashion. Nassim Taleb has talked repeatedly about this fault. I appreciate your desire to express your beliefs the way you see them and not go the safe route with the herd. I’m betting with you. Guess we’ll see shortly.

  8. On September 26, 2015 at 6:09 am,
    Bobby says:

    2015.75 is just the BEGINNING – NOT THE END WITH SOME ONE TIME CRASH EVENT. This is a major change in trend of monumental proportion.


    • On September 27, 2015 at 10:20 am,
      Big Al says:

      Bobby, in my opinion this is more than just slightly possible!

  9. On September 26, 2015 at 6:21 am,
    FranSix says:

    As I had posted above, interest rates closed negative on treasury bills, but this comment is still awaiting moderation. So I’ll post the following Elliot wave paradigm, that the gold bull market is a Wave One extension, with the last possible wave the smallest:


    • On September 26, 2015 at 9:44 am,
      Big Al says:

      Fixed it hours ago Fran

      • On September 26, 2015 at 10:41 am,
        FranSix says:

        Got it, AK

        • On September 26, 2015 at 10:52 am,
          Matthew says:

          Haha, forget the AK 47, we have the AK 43 running things around here.

          • On September 27, 2015 at 10:20 am,
            Big Al says:

            AK 43?

          • On September 27, 2015 at 11:07 am,
            Matthew says:

            Weren’t you, AK, born in ’43? (The popular Automatic Kalashnikov came about in ’47.)

  10. On September 26, 2015 at 6:36 am,
    Agatha says:

    Thank you Gary! Good to see you…

  11. On September 26, 2015 at 6:52 am,
    James the lesser says:

    IMHO History has NOT proven Doc has been right.

    On the contrary on the BIG MACRO move he was totally wrong.

    When I sounded the alarm several years ago stating GOLD was now entering a bear market after it failed to take out $1800 for the third time his response was he “never saw a bull market end that way”

    His technicals than didn’t spot the HUGE downturn to follow, nor will they spot the huge upturn when it comes.

    They don’t ring bells at tops and bottoms..

    For daily commentary that you can adjust as you go he’s fine.

    The big picture moves however are a whole different story

    • On September 26, 2015 at 11:00 am,
      Bob Moriarty says:


      What if the bull market in gold hasn’t finished?

      We had a bigger correction in gold in 1974-1976 and it was nothing but a correction in a continuing bull market.

      • On September 26, 2015 at 11:50 am,
        Bill says:

        The million dollar question Bob. I’m sure you don’t know it…Gold stocks have NEVER been pounded like this.
        I know a couple managers that called all the turns since day one and other then a bear market rally here and the its over. EOS. This is a BEAR MARKET not a correction…
        You have been saying we are in a bull market for a year. That’s funny as hell
        Do you remember I said 4 years ago the DOW would continue to soar. You said. “Gold will go way higher then” How did that work out?

        • On September 26, 2015 at 11:56 am,
          Bill says:

          Ohhhh…What about the fear mongering on The End of Cheap Oil??!
          Have you looked at the chart? New technologies and a 100 other reasons why it will stay down in a trading range for years…Its obvious as hell.

        • On September 26, 2015 at 11:59 am,
          Matthew says:

          A cyclical bear within a secular bull is a correction within the secular bull. So it has been both a bear market AND a correction.

          • On September 26, 2015 at 12:27 pm,
            Bill says:

            It would be a correction only in hindsight. I have the utmost respect for my buddy and Hedge Fund manager. His fundamental analysis blow me away. Gold is very iffy.
            We are in a bear market for a long time. This last bull run in gold went so long without a major correction it ruined the market. Without corrections to scare people away its impossible to continue. It ran until I heard the public all around me buying that knew dick about gold. That very things is a great indicator and bringing it to an end with a very high bullish consensus.
            In the 70s few even notice till closer to the end. It went 4 years then had a 50% correction. Looking at the 70s and comparing it today to guess where we are going is ridiculous.
            There are people out there that still think its coming back and for that reason you get your answer.
            My Bud and manager is sick of people asking him. The US economy is doing quite well and that’s where we are. Buying growth companies with nice Dividends.
            Bob said the Bond market was going to crash 5 years ago….LOL
            All that said we do have a minor buy signal on gold…for now…

          • On September 26, 2015 at 12:40 pm,
            Matthew says:

            Gold is not historically cheap in real terms at the moment but the dollar and debt in general looks ugly so gold can and will rise nominally at the very least.
            I’m sure your buddy deserves respect but even the very best get things wrong. However, if he’s just bearish gold relative to the opportunities that are shaping up in other resources and resource stocks, then I would be more in agreement with him.

          • On September 26, 2015 at 4:48 pm,
            Bill says:

            Mathew …respect dude!
            Im a bitch to some and im no guru but have had a knack for smellin out the poop.
            Actually we are not super berish gold. Theres a huge question mark there. We are on the world of shit. It can be a go to at certain times. Way more bearish on other commodities. Just watching closely. I follow a few after doning my own due dilly. We are in uncharted territory. At this point in taking the safe bets I know. Know one know it all id give my left ball for a gold bull. There would be huge returns on the equities.
            Wish i could read all comments today. To busy working the hony doo list.

        • On September 26, 2015 at 12:32 pm,
          Bob Moriarty says:


          It’s not my opinion that gold was in a correction from 1974 to 1976, it’s fact. It’s not my opinion that gold was still in a bull market, it’s fact.

          • On September 26, 2015 at 12:41 pm,
            Bill says:

            Bear markets fit under certain criteria. That was considered a bear market at the time…Who knows its still in a bull until it reverts…like now. I know a couple guys that can call it all on fundamentals…Commodities are done in general..accept maybe certain food categories that may have some runs…..

          • On September 26, 2015 at 12:55 pm,
            Bill says:

            Ill go with my buddy. He called the resent blowouts around the world and more issues to come with the emerging economies..Most likely a real serious crisis ahead.
            Using the DOW correction to add high quality.

          • On September 26, 2015 at 1:10 pm,
            Bill says:
          • On September 26, 2015 at 1:45 pm,
            Bob Moriarty says:


            On behalf of the rest of the board I want to congratulate you on the fact that you have a buddy that has made some correct calls. In all of the history of the Kereport, that has never happened before and you actually know him.

            That’s just frigging wonderful. No one else here has ever known anyone to make a correct call.

            And what are you? His pet parrot?

          • On September 26, 2015 at 2:09 pm,
            Bill says:

            Everyone needs a hero Bob…..your a fricken zero. You know how many people you have quoted that said this or that was going to happen (usually a crash oh boy anther crash) I lost count… If you were 1/2 as humble as he I might give you a couple points. He doesn’t do public and could care less…For him to be a contrarian best to stay hidden..At least I know who does have a clue. Seriously.
            The 70s the DOW went sideways for 10 years. We just had one of the biggest DOW bull in history. USELESS looking at the 70s to call today.

          • On September 26, 2015 at 2:45 pm,
            Bob Moriarty says:


            You should do a little research before you engage your mouth. The Dow went from 42 in 1932 to 108 a year later. It was the biggest rally in Dow history in that short a period. We were in a depression and it continued for another eight years. It was nothing but a rally in a bear market.

      • On September 26, 2015 at 1:22 pm,
        Dick Tracy says:

        Here’s my what if moment Bob, suppose this is the moment to predict that the bull market is on the verge of a wild advance which would make all that had gone before it seem trifling, if it happened I would be a mad genius or a nutty psychologist.

        • On September 26, 2015 at 2:50 pm,
          Bob Moriarty says:

          It wouldn’t be based on any economic logic. When Zimbawe blew up their dollar to the point they needed to print 100 trillion dollar notes, their stock exchange went up in nominal terms but not real terms. If the Fed blows the dollar sky high, the DOW isn’t going up in real terms, only in nominal terms.

          In terms of the DOW, gold has only been lower 3 times in 140 years. Buying gold and selling the DOW would be the percentage bet. The DOW could go up but it was at a record high this year. It it were to go up, you might be paying $25 a gallon for fuel.

          • On September 26, 2015 at 5:06 pm,
            Bill says:

            Bob. I do more then put my finger in the air like yourself.
            Yes gold has lost far more money for people then any othey asset class. A time too own and a time to run like hell.
            Bob if you know how to select the right companies even if the Dow goes sideways for 10 years. You can smoke most asset. You just dont get it. If you have 300 mil to place it sure and the hell isnt going into gold.
            Did you forget i beat you senless last Nov Dec about the gold bull market that wasnt coming. Lets just take a look at your huy and mold gold stocks since then. We are up 25% and solid with a 4% yield ! Are you retarded? You dont have to answer that. If you want to meet ill drop an email and you can meet up with me and my fist. Gaureteed ill school you. You will need a black belt. I never shit anyone. I grew up on a farm drinking whiskey out of hub caps throwing 100lbs bails all day and knocking teeth down ass hole throats for fun.
            You think your smarter than most. I know im not and i will always admit when i Fk up. Its called humility.
            Mathew it would be great to see a full on bull.
            I just know some people that read his stuff and got killed.
            It a business that need ls no conscience or integrity.
            Sorry for the spell no time to go and check on this stupid little phone.

          • On September 26, 2015 at 5:10 pm,
            Bill says:

            Taking a profit. You were calling for the end of the world.
            We rode the best companies up on the dow while you been sucking on a bear market for years. Your a shill.

          • On September 27, 2015 at 6:16 am,
            A Listener says:

            No Bill, that is not correct. The information we have today is not what was popular thought 3 or 4 years ago. All of us were limited about what the Central Banks were actually doing and nobody understood then that so much of the created money was being warehoused on the Feds balance sheet as excess reserves paying out a rate of interest. In light of the facts afterwards we are all genius but during those times the narrative we know today was light years away from the facts.

            So Bob is not a Shill.

          • On September 27, 2015 at 10:27 am,
            Big Al says:

            Don’t know where this comment will end up, but with all due respect I TRULY APPRECIATE YOUR DIALOG.

        • On September 26, 2015 at 3:17 pm,
          Bill says:

          Know one knows for sure.
          The numbers we have gone thru says not until we double printing efforts for starts. There’s a deflationary trend and that’s been good for the US consumer. The rest of the emerging countries are in deep doo doo. Where the hell does one want to be? Blue chip USA and the dollar are a no brainier….for now.. They have the best reporting requirements and people are going to continue to eat and poop. Martin Armstrong drives a BMW electric and I drive and electric too. There’s a huge trickle down effect from new technologies and less consumption happening right now….

          • On September 26, 2015 at 3:43 pm,
            Bob Moriarty says:


            If you think Adam Hamilton wrote this just to educate you, he didn’t. But you might want to think about it. You think you can invest using a rear view mirror and I can guarantee you that you cannot. You are married to the DOW in the same way you were married to gold shares and the reason you lost money then and you will lose money now is that you don’t know how to take a profit and want to blame everyone else for your investing mistakes.

            Gold has lapsed deeper into pariahdom this year, becoming the most-hated investment class in all the markets. Traders are avoiding it like the plague, utterly convinced gold is doomed to spiral lower perpetually. But this wildly-bearish psychology is dead wrong. Financial markets are forever cyclical, and gold is no exception to history’s ironclad rule. The best time to be heavily long anything is when few others are.

            Gold’s universal disdain today is the natural result of dismal price action. This precious metal has not seen a new secular high since August 2011, 4.1 years ago. Between that latest bull-market peak and early August 2015, gold fell 42.8% in a brutal secular bear market. With the flagship S&P 500 stock index up 86.8% over that same span, it’s easy to understand why many consider gold the worst investment.

            But gold wasn’t always this way. The greatest mistake investors and speculators make is extrapolating the present out into infinity. They succumb to our innate human tendency to assume the status quo will persist indefinitely. We all do this all the time in our normal lives. When everything is going well, we get euphoric and think good times will last forever. When nothing is working out, we despairingly see a bleak future.

            This present-situation-lasting-perpetually outlook is obviously dead wrong, as life moves in cycles. We will all see good times and bad times, with neither extreme persisting for long. The financial markets work the same way. Just when the vast majority of investors and speculators are convinced that an old trend will be the new norm forever, it reverses. The markets shift and massive countertrend moves get underway.

            Gold itself is a fantastic example of this. Back in the early 2000s as the stock markets soared, gold was considered dead. Investors despised it, and central banks couldn’t dump it fast enough. As the mighty secular stock-market bull peaked in March 2000, gold was around $285. Everyone thought the stock markets were destined to rally forever in a brave new technology-driven era, in which gold was totally obsolete.

            But just as the market status quo seemed unassailable, it crumbled. Market extremes are always the result of excessive greed or fear among traders. And since these emotions are finite and inherently self-limiting, they can’t last. Once everyone who bought stocks high had already deployed their capital, no one else was left to buy. So the astounding prevailing stock greed in the early 2000s burned itself out.

            Meanwhile gold was racked by excessive fear and despair. Everyone who wanted to sell it low had already done so, leaving no one left to sell. So gold’s decades-old secular bear shifted to a powerful new secular bull. Between April 2001 and August 2011, gold skyrocketed 638.2% higher while the S&P 500 lost 1.9%! Gold was the world’s best-performing asset class by far over an entire decade, creating fortunes.


          • On September 27, 2015 at 10:31 am,
            Big Al says:

            Bill, consider me old fashioned regarding BMW’s, which I certainly am. Kathy and I drive two old BMW gas guzzlers and we would not part with either one of them. Nothing like driving along the water with the top down in my “mature” convert. Next best thing to sex!

          • On September 27, 2015 at 11:10 am,
            Matthew says:

            Atta boy, Al. He who dies with the biggest carbon footprint wins! 🙂

      • On September 26, 2015 at 6:51 pm,
        RICHARD (DOC) says:

        Bob; exactly. James accurately pointed out what I said. What James forgot is that I said when all is finished and done, this will be the longest bull market in gold ever currently recorded in history and I continue to stand by that. It ain’t over until the fat lady sings. James, the fat lady hasn’t sung yet. Do you realize that we’re currently only $25 off the intra-week low back in June of 2013? This thing is in a very long bottoming process readying itself for the next move up in the future—remember, the longest bull market ever in the annals of man.

        • On September 26, 2015 at 8:50 pm,
          Gator says:

          BM..good post..thank you…Richard(Doc) good response..thank you…

        • On September 27, 2015 at 7:06 am,
          Bobby says:

          I have stated this many times before as in the boxer, A man hears what he wants to hear and disregards the rest!
          Look to the cycles to what will happen in the future.

          • On September 27, 2015 at 10:36 am,
            Big Al says:

            That is so very true, Bobby. All people hear what they want to hear and, more often than not, will pay people big money to hear them agree with them! So sad but so true!

        • On September 27, 2015 at 10:35 am,
          Big Al says:

          Great response, Charley. And, of course,thank you for keeping it civil. But then that is the kind of person you are.

          By the way, played Astoria Country Club yesterday. Do you hat playing golf in blistering wind as much as I do?

          • On September 27, 2015 at 11:18 am,
            RICHARD (DOC) says:

            Especially when the wind is against me.

      • On September 27, 2015 at 10:24 am,
        Big Al says:

        To both JTL and Robert, I have to still maintain that it is all about your time frame. I would have to disagree with anyone who maintains that the fall from around 1900 to a bit below 1100 could accurately be defined as a bear market.

    • On September 26, 2015 at 4:21 pm,
      irishtony says:


  12. On September 26, 2015 at 7:18 am,
    Markedtofuture says:

    Allied Nevada Objection To Debtors Plan by Brian Tuttle

    This is quite the eye opener for the 30,000+ shareholders of Allied Nevada Gold Corp


    • On September 26, 2015 at 7:44 am,
      FranSix says:

      Didn’t read anything about risk assets going through the roof, which is probably why they went bankrupt. Before you can borrow any large amounts of capital, the lender is indemnified with a credit default swap. They are anxious to lend in risky ventures such as very senior silver mines, because they’re sub-prime borrowers.

    • On September 26, 2015 at 12:10 pm,
      JIM says:


      Thanks for the Allied Nevada updates. Much appreciated.


  13. On September 26, 2015 at 8:28 am,
    Markedtofuture says:

    FranSix there is a little more to the story on the Allied Nevada take down.

    There were false statements in press releases and P/R’s . An independent director of Allied and the new CFO put the compnay in debt without hedging an ounce of gold or silver. Scotiabank was hired as an advisor to get a partner for their mill expansion project, at the same time one their analysts put a $0.05 target on their backs while they were looking for partners. They were able to wipe over a billion dollars in 6 months.

    Docket 1051 page 18 of 53

    33. Debtors plan of reorganization is also deficient as the “adjusted Equity Value…is estimated to be in the range of $383,335,000 and $434,280,000” and includes a wide range of unaudited claims.

    This court should take notice the outstanding Notes were originally issued in CAD which is now depressed over 25% to the USD, so the adjusted Equity Value should reflect the present discounted rate as the money is owed in CAD not USD. To put things in prospective, as of September 21, 2015 the spot price per ounce of Gold is over $1500.00 an ounce in CAD giving the inventories just on the leach pad a value of approximately $385 million CAD; enough to pay off the secured debt.

    • On September 26, 2015 at 8:35 am,
      Bob UK says:

      What happened with Allied Nevada is what worries me about a lot of the other gold and silver miners.

      Some people say that there are some with no debt – no idea who they are – but from what I have seen most of the miners appear to be up to their eyeballs in debt.

      • On September 26, 2015 at 9:01 am,
        Bill says:

        Aurcana has a class action law suit and if you owed it a few years ago there will be a setllement to the shareholders coming. Lots if BS in the PM markets. More crooked people that come out of the wood work in a bull market then you can shake a stick at!

        • On September 26, 2015 at 11:09 am,
          FranSix says:

          I’m curious to see the outcome of the chapter 11. Are we saying the company assets are going to be auctioned, or that once completed, the restructuring will mean a negative outcome for shareholders?

          • On September 26, 2015 at 5:48 pm,
            Markedtofuture says:

            FranSix they are renaming it Hycroft Mining Corporation. Just yesterday they came out with an ammended plan supplement in the middle of a vote to approve the plan by Oct 2nd.

            Brian Tuttle, along with others filed evidence of wrong doing in briefs supporting the Motion For an Examiner. Some of that same evidence appears in Debtors docket 1018. On page 279 of 299 It states:

            V66 Scotia Capital Inc. has been retained as financial advisor by Allied Nevada Gold Corp. with respect to the Hycroft Mill Expansion. Put another way, Scotiabank’s Trevor Turnbull put a $0.05 share price target on Allied Nevada in December 2014.

            Shareholders and market participants are suppose to believe an honest attempt was made to find a partner or financier for the Hycroft Mill. All this occurred while the stock was one of the highest shorted on the NYSE. Shareholders are not buying the Debtors stories anymore. One shareholder adds what about this:

            “Mill Financing Update

            Throughout the financing process we have received significant interest in the Hycroft mill project, but to date have not secured a path forward. Our progress has been hindered in part by the volatile market and commodity price conditions experienced throughout the year. Given the interest level in the Hycroft mill project and our belief in the compelling economics of the project, we are continuing with the process while we also explore other options to maximize our liquidity and improve the current heap leach operation.” – 8-K, Jan 21st 2015

            Continuing with the process ?
            Allied Nevada’s banker had deserted them as early as Dec 9th, 2014.

            ” We see no reasonable options for Allied Nevada to raise further funds; neither do we expect the company to be able to proceed with its unfunded sulphides project. In October, Allied Nevada released the results of its feasibility study for the Hycroft mill project. Unfortunately, we do not believe that there are any fundraising options for the company to finance the $1+ billion project in this gold price environment.
            Selling a silver stream or royalty, raising more high-interest debt, bringing on a joint venture partner, or issuing equity – apart from the $21.5 million deal announced on December 9 – all appear to be too dilutive to valuation for serious consideration.” –
            Trevor Turnbull, Dec 9th, 2014 Scotiabank Focus 2015 page 118

          • On September 27, 2015 at 4:49 am,
            FranSix says:

            If the judge accepts the chapter 11 filing, then it has to proceed, and nobody has any rights except the remaining ownership in the asset during liquidation, which is auctioned and priority assigned to bond holders, meaning bond holders. If you purchased the credit default swap, then you are first in line, since you are the creditor. If the decision is to restructure, then the judge assigns a haircut to all parties.

    • On September 27, 2015 at 10:38 am,
      Big Al says:

      Thanks for that input Markedtofuture!

  14. On September 26, 2015 at 8:32 am,
    James the lesser says:


    You said more than you know, and correctly so when you said you were holding onto your conventional stocks.

    Yes they experience downturns, again as you correctly point out, but they will ultimately come back.

    Over long periods of time real estate and quality stocks trump gold and silver hands down.

    Gold and silver are trades and you need to be right two times, when you buy and when you sell.

    Real estate and quality stocks you just need to be in, period.

    Invest in real estate and or quality stocks and wake up one day 20 years later and you have accumulated a significant sum of wealth.

    Buy gold and silver and 20 years later you could be right back where you started from.

    There are still some hard headed individuals that don’t get this.

    Again Al you said a mouthful!

    • On September 26, 2015 at 8:57 am,
      Bill says:

      Well said Jame T L.
      When a conventional market gets hit it come back usually fairly quickly and have been throughout history a great buy opp. Gold/ silver are highly cyclical staying down for eons and if you are a holder of those stocks uou are wiped out. HUI hit 600+ and we are back to 2002 levels at 100. Some call it a correction LOL thats a meltdown by all messures. If yoou listen to the gold bug pumpers all the way down you are toast. There some great realestate stocks and many other correcting now that pay 5-8% yield and I have been buying.

      • On September 26, 2015 at 9:07 am,
        silverbug dave says:

        Stock market will end up down 90%. And real estate.

        • On September 26, 2015 at 9:32 am,
          Bill says:

          No way in hell will the stock market end up down 90%. Right now capital and is looking for yield and saftey! Theres only one place you can go. Thats the US right now. No market is big and liquid enough to take the money and it has the Dollar too boot. Bonds may be at risk as confidence in gov wanes.
          As fo John Embry thats right. The whole groupe of them were crushed. The best fund manager bailed on Sprott because they became silver nuts. Hes blown away the averages and is still bullish the USA after doing extremely well done he last few years with his new fund.

      • On September 26, 2015 at 9:15 am,
        silverbug dave says:

        I may be correct in recalling John Embry’s saying when the HUI was 600 that it would go to 900.

        • On September 26, 2015 at 9:15 am,
          silverbug dave says:

          Great market call, John!

          • On September 26, 2015 at 2:24 pm,
            lawrence says:

            That is why you cannot rely on one person and not to worship anyone. John is a good analyst and good fund manager. However, he gets his blind spots too. Everyone including some genius make mistakes. We cannot deny for several periods, John looked like hero, right. He will look like hero again. When that time comes again, we have to know how to sell.

          • On September 27, 2015 at 3:45 am,
            A Listener says:

            But a really good analyst will see the declines coming just as readily as he sees the upside potential. A dispassionate viewpoint accepts that markets both rise and fall (not just rise). That means they must have open minds and remain flexible. Some of these guys who are too invested in their specialty asset class do not do listeners any favours when the constantly sound the bull horn even during major price declines.

            Be very careful who you listen too and try to understand their agenda.

    • On September 26, 2015 at 9:55 am,
      lawrence says:

      If we talk about long term, it is really depend on how long and in what period. Currently people may think a few year is long term and economic structure will be always the same. However, in the true long term, even countries and societies disappear and any value attached to an economy will vanish. However, gold will last until everything collapse. There is a thousand year saying in our society “antique for boom time and gold for chaotic time”. I am not saying you are wrong but it is only true in a specific time which is the last few decades and in North America. If you take to the the rest of the world and from historic point of view, it could not be true since most markets either reset or gone. And currencies and stocks which need a host to exist is also gone. However, gold continues regardless. Even in North America, money has gone bust a few times. Your statement could be right or could be wrong depending on the current prosperity continue to develop and unprecedented money printing does not create inflation as it has been in entire human history. At same time, gold should be compared to cash since it is money equivalent. Stocks are investment so they carries risks. When you hold gold in your hands and holding gold in your hand, the comparison is more fair.

      • On September 26, 2015 at 9:57 am,
        lawrence says:

        Hold cash compared to gold

        • On September 27, 2015 at 10:45 am,
          Big Al says:

          Understanding the agenda is definitely the most important part!

      • On September 26, 2015 at 10:14 am,
        Matthew says:

        Exactly Lawrence. The current risk/reward in stocks says go to cash while the current risk/reward in the dollar versus gold says to make most of the cash you hold gold.

        For those who can view a monthly chart, the Dow priced in gold:

        • On September 26, 2015 at 12:09 pm,
          lawrence says:

          Prosperity rarely lasts more than 3-4 generations, which is around 60-100 years. A peak is always reached when time comes to it. Human usually cannot do any thing about it. When the time comes, the best case scenario is a slow decay and the worst is collapse. For the majority of the world, people never see any prosperity.

    • On September 27, 2015 at 10:43 am,
      Big Al says:

      As Bobby Jones was told by Walter Hagen in The Legend of Baggar Vance when Randolph Juna finally hit a great shot, “even a blind squirrel sometimes finds an acorn, bobby.

      I have been a lucky blind squirrel enough times to be happy!

  15. On September 26, 2015 at 9:07 am,
    silverbug dave says:

    Here is a fundamental or perhaps an Elliott Wave style socioeconomic take regarding the immigrant ‘crisis’.

    At the top of a market bubble the public always jump in with both feet and then they have their money wiped out.

    It is the same then with the movement of people. There is a huge surge of people trying to get into Europe just as it is about to collapse. They may end up in slavery – along with the rest of the European population. The EU might turn into a failed state as a whole.

    At some point though there can still be a mini trend reversal to create relative dollar weakness for a while but the end of the EU is on the horizon.

    • On September 27, 2015 at 11:17 am,
      Big Al says:

      Interesting Silverbug!

  16. On September 26, 2015 at 9:14 am,
    silverbug dave says:

    The sun is shining outside in my garden. It is time to ignore all media including the internet and go for a walk. Tune it all out.

    • On September 27, 2015 at 3:37 am,
      A Listener says:

      I caught a couple fish. Going back for more. It’s good to get out of the house once in awhile Silverbug. The gloom and negativity on the internet is so oppressive!

      • On September 27, 2015 at 12:41 pm,
        Big Al says:

        So I am sitting in an ocean view room with our best friends; played 18 yesterday with dinner afterwards; some really great Chardonnay; great conversation; and, topped off with a great night’s sleep.

        Got up this morning; nothing but blue sky; a really great breakfast and now out for a couple hours walk; with dinner and the lunar eclipse and wine around six p.m.

        What is the internet?

    • On September 27, 2015 at 12:38 pm,
      Big Al says:


  17. On September 26, 2015 at 9:34 am,
    Bill says:

    Same here SB Dave. Good plan. I left you one above. Cheers

  18. On September 26, 2015 at 10:21 am,
    Silverdollar says:

    Doc commented about the lack of skills in the migrants moving to Europe. Haven’t read anything particular on that subject but I would say this. They are young, healthy, good looking people, mostly well-dressed. I would almost say that they are the cream of the crop in the countries they departed from. They’re ambitious looking and if programs can be put together by the host governments, particularly Germany, to give them a chance, I think the odds are they will surprise many of the pundits. Let’s not forget that Germany has some experience with the absorbing of the whole East Germany and they made it work. Just sayin’.

    • On September 26, 2015 at 12:38 pm,
      Bob UK says:

      Let us know where you live and we will send you a few thousand so that you can share in the love.

      • On September 27, 2015 at 3:36 am,
        A Listener says:

        Silverdollar, yu are correct. The educational levels in Syria were quite acceptable prior to the civil war and most of the immigrants should have some technical education as a minimum. The comments about the immigrants being poorly educated and a drag on the system are out of place and made based on ignorance and assumptions.

    • On September 27, 2015 at 12:42 pm,
      Big Al says:

      “Just sayin” the truth!

      • On September 27, 2015 at 5:03 pm,
        A Listener says:

        Al, the population of the EU is 500 million. Adding a million refuges from Syria won’t even be noticed once they are settled. That is just the smallest fraction of 1% of the region. Too many people playing the fear card on this story. Europe is not going to be Islamized as a result.

  19. On September 26, 2015 at 10:25 am,
    Matthew says:

    Gold is topping when priced in gold mining stocks (GDX). Gold could go a little higher/GDX a little lower as the rest of the gap above gets filled.

  20. On September 26, 2015 at 10:31 am,
    russell scott hamilton says:

    hillary seems weak . if joe biden does not enter race , some other Dem will come in . Bernie is driving the Dem party to the left , but i dont think he really believes he will win the nomination, but hes got the whole party moving left which is what he wanted. Kerry might come in if Joe does not run. The Clintons have made a lot of enemies over the years, so i think she will not get the nomination. S

    • On September 27, 2015 at 12:43 pm,
      Big Al says:

      Mr. Hamilton, I truly hope that our are correct about the enemies!

  21. On September 26, 2015 at 10:37 am,
    Matthew says:

    Gold is holding up very well vs oil but I think it will underperform soon.

  22. On September 26, 2015 at 10:42 am,
    Matthew says:

    Gold is up five fold versus commodities (CRB) since 2001. The dollar would be too if it wasn’t so INFERIOR.

    • On September 26, 2015 at 10:48 am,
      Matthew says:

      The dollar is still DOWN slightly, btw.

  23. On September 26, 2015 at 10:46 am,
    Matthew says:

    Hopefully GDXJ will quickly fall to fill the 9/16 gap at 19.30:

  24. On September 26, 2015 at 10:55 am,
    Matthew says:

    The modified Schiff fork has provided support for gold for three months now:

  25. On September 26, 2015 at 10:57 am,
    James the lesser says:

    Once again BM stirs up the pot by offering half truths and taking things out of context.

  26. On September 26, 2015 at 11:49 am,
    James the lesser says:

    Take a good look at the LEFT SIDE of that chart you posted Matthew.

    Then tell me how I’m not doing my analysis just because I’m bearish.

    1982 to 2000 gold went nowhere but down

    Could certainly happen again

    • On September 26, 2015 at 12:05 pm,
      Matthew says:

      This is not ’82 to 2000 and gold spent most of that period in a range not going down. In fact, it remained at 11-12 times the price it started its bull market at for most of that period.
      To say that it will go nowhere for the next 15 years is to say that the dollar won’t either. That is very unlikely to say the least considering the situation.

    • On September 26, 2015 at 12:44 pm,
      lawrence says:

      James, I hope you sit down and see what is different in 1800s and now. I can list a few differences:

      Interest rate – 1980s: 20% and now: 0%
      People who afford gold – 1980s: Europe and North America, Now: the whole world
      Monetary policy: 1980s: extremely tight, Now: Extremely loose
      US Gold (if it is as reported) compared to total money supply – 1980s: 140%, Now ~7%
      Miners profitability: 1980s: highly profitable, Now: hard to survive.

      • On September 26, 2015 at 12:45 pm,
        lawrence says:

        sorry 1980s nto 1800s.

        • On September 27, 2015 at 3:31 am,
          A Listener says:

          And what does nto mean?

          Just kidding! 🙂

          You are using an I-phone no doubt. A stupid technology that is not equipped to correctly spell common English words and does not have any intuition built into the device. Not sure why everyone is so impressed with that device.

          Its gone stone age.

          • On September 27, 2015 at 8:57 am,
            lawrence says:

            I just changed to a sumsung recently. It is even worse than apple. It changes without warning. If I type wrong, it is more likely to keep it. It is hard not to make mistake due to the small keys and small screen.

  27. On September 26, 2015 at 11:51 am,
    JIM says:


    When do you think PAAS & HL will bottom? Thanks for ALL you do with KER.


  28. On September 26, 2015 at 12:14 pm,
    James the lesser says:

    Your own chart and your own words confirmed what I said in yesterdays post,
    That gold could languish for years.
    No one wants to “invest” in an asset. That could be in a range for 18 years.

    As far as this not being 92 to 2000, that had no bearing.

    I supposed this time it’s different?

    Gold goes up, gold goes down. Doesn’t matter the period.

    Who says the $ will go nowhere? Not me.

    • On September 26, 2015 at 12:22 pm,
      Matthew says:

      You’re funny if you think the dollar can gain or lose significant purchasing power while gold goes nowhere.
      The rest of your comment is funny too.

  29. On September 26, 2015 at 12:25 pm,
    James the lesser says:

    Matthew, the chart speaks for itself.

    There’s nothing to dispute.

    $ could soar for the next few years.

    Why don’t you just admit what is so obvious. You will feel better.

    • On September 26, 2015 at 12:41 pm,
      Matthew says:

      You need to learn how to read a chart.

  30. On September 26, 2015 at 12:54 pm,
    James the lesser says:

    No Matthew you need to not posts charts that damage your faulty argument

    • On September 26, 2015 at 1:20 pm,
      Matthew says:

      If you say so.

      • On September 27, 2015 at 3:27 am,
        A Listener says:

        How come I can’t see your Stockcharts anymore? What are you doing that is different than before? Secondly….are you doing it deliberately so only Stockchart users can read them?

        If so, you lost your audience.

        • On September 27, 2015 at 4:32 am,
          Irwin says:

          Don’t be so paranoid.
          If there have been some changes made, my guess would be that it’s because StockCharts has refined the settings.

          I can actually see more than I used to. I am a StockCharts member, but even when I’m not signed in, I can sometimes see annotations – not always. I can’t explain the inconsistencies.

          • On September 27, 2015 at 7:39 am,
            A Listener says:

            Not paranoid….but why can’t I see the charts anymore?

        • On September 27, 2015 at 7:53 am,
          Irwin says:

          I don’t know.
          Can you see this one?
          I pulled it up without logging into StockCharts, so everyone should be able to see it.


          • On September 27, 2015 at 8:49 am,
            A Listener says:

            I can see that one. Thanks Irwin.

        • On September 27, 2015 at 12:46 pm,
          Big Al says:

          Specifically, who lost their audience?

          • On September 27, 2015 at 11:51 pm,
            A Listener says:

            Matthew. He posts a lot of charts. But if nobody can see them its a waste of his time.

  31. On September 26, 2015 at 1:13 pm,
    John Newman says:

    The Middle East is now accelerating for the very worst with China troops now landing
    by ship in Syria.

    Yes, “regrettably China’s approach has not been taken on board” and so, more than a year later that approach might have just shifted to a strategy that involves direct military intervention on behalf of Assad.

    We have massive deflationary economic collapse that has begun coupled with a major world war that is now in progress. I am happily short a major position in U.S. equities and will hold that position. Precious metals may get caught in the crosshairs not worth
    the risk short or long. Tread carefully.

    I am right. I’m always right. Just one time I thought I was wrong, I found out I was right.

    We are entering a massive economic collapse and with a major world war. I am right !!!

    • On September 26, 2015 at 1:40 pm,
      John Newman says:

      Story developing and forthcoming. The entire world is at stake.


      • On September 26, 2015 at 7:18 pm,
        John Newman says:

        Donald Trump today – They want to start world war 3. (I am right !!!)


        • On September 26, 2015 at 7:49 pm,
          John Newman says:

          Robert Kiyosaki-famed author Rich Dad Poor Dad sends out message-We are in a global
          economic collapse. Mr. Kiyosaki has been fairly accurate analyst. (again, I am right !!!)


          Although these articles I have posted do support my future forecasts, by no means do they have anything to do with my research. We have just entered a massive deflationary
          economic collapse and a world war looks very close to breaking out. It will, just exactly
          when the jury is still out. The collapse has already begun though. You can be sure of it.

        • On September 27, 2015 at 3:23 am,
          A Listener says:

          Are you kidding!!!!!!

          Kiyosaki is one the THE WORST ANALYSTS anywhere. Whatever that guy says just do the opposite. He has no insight whatsoever in my opinion and is only traveling on the coat-tails of the pop-culture analyst crowd to appear current.

          Reading and following him is dangerous to your portfolio.

        • On September 27, 2015 at 10:26 am,
          lawrence says:

          Kiyosaki is just a street smart guy and self made millionaire. He has some good ideas but most are just either prejudice or promotion stuff. I do listen to him occasionally to see what he has to offer. At this stage, we have to have an open mind. However, following him is different matter. I remember he was recommending to own as much real estate as possible., A lot of people got burnt. His agent were much worse, at least he recommends to buy real estate for cash flow and his agents taught classes and recommended to own RE for growth. Stupid indeed.

        • On September 27, 2015 at 11:06 am,
          John Newman says:

          All his recommendations for decades was real estate and cash flow.

          I see “Listener” enjoys making fraudulent remarks and wrongful remarks
          regarding someone who has made fortunes. Liars like “Listener” can lie but
          numbers don’t lie. Real estate has been very prosperous not what “Listener”


        • On September 27, 2015 at 11:45 am,
          lawrence says:

          John, hard to dispute that. Re; Real estate

        • On September 27, 2015 at 12:31 pm,
          John Newman says:

          You bet, Lawrence. Investing for the long term in real estate and stocks have been
          the best performers. Unfortuantely for Listener, he was not familiar with Mr. Kiyosaki
          and spoke too soon. Hands down his recommendations have made his followers fortunes.
          Long term investing not trading.

      • On September 27, 2015 at 12:48 pm,
        Big Al says:

        Which “News Channel” John?

    • On September 27, 2015 at 3:25 am,
      A Listener says:

      OK John Newman….you are officially crazy. That is my conclusion after reading your posts.

      • On September 27, 2015 at 8:41 am,
        John Newman says:

        A Listener, You are right regarding your opinion and its not worth anything. Been a client
        for a very long many years and Mr. Kiyosaki advised his clients to invest in real estate. Not only that he advised his clients buy U.S. equites in 2010. Your loss, because as his
        clients we have been making fortunes. That makes you wrong, I am right. You call that crazy !!! And your conclusions too, are irrelevant and false. You are always wrong Listener.

        Your judgments are completely misplaced. Fraudelent assumptions and false premises.
        Not to mention your unprofessionalism replying rudely and with no real basis whatsoever. Makes you wrong again, Listener.

        Please, I strongly advise to keep your comments to yourself in the future and they are unwelcome in communicating with me. Unless of coarse, you enjoy being embarrassed
        and being wrong. Excellent traits of yours and provoking conflict on the site further to
        your own self inflicted embarrassment reflecting poor characteristics and fraudelent
        practices/behavior. You can’t help it, I know. Its just the caliber you are.

        • On September 27, 2015 at 8:48 am,
          A Listener says:

          Heavy Breather has slipped back into the fold under a new name. Should have figured. Same MO.

          • On September 27, 2015 at 10:54 am,
            John Newman says:

            Negative !!!! Keep lowering yourself though, with insulting name calling from the
            gutter. That’s your caliber. Living up to your reputation. You really are a sorry

          • On September 27, 2015 at 7:37 pm,
            John Newman says:

            Also Listener, please respect my wishes and do not make any further comments
            to me at anytime in the future. I will do the same. I have no need to communicate
            with someone such as yourself who is deluded, unprofessional and disrespectful.
            So far I’m being kind with these words regarding you and your tactics. You want to avoid further embarrassment, I highly recommend we avoid one another. Otherwise,
            you can expect further debasement to your name and reputation.

    • On September 27, 2015 at 12:47 pm,
      Big Al says:

      Chinese troops landing on shore?

  32. On September 26, 2015 at 1:21 pm,
    Matthew says:

    Silver is up 8.5% since its low one month ago and looks like it wants to continue higher.

  33. On September 26, 2015 at 1:31 pm,
    Chartster says:

    Temple,Al and Cory,
    Thanks for the Houston Lake Mining segment. It looks really good. The daily and weekly chart looks great, and the interview was great(-;

    • On September 26, 2015 at 2:34 pm,
      Irwin says:

      I’ll buy $10 (ten dollars) worth of HLM on Monday.
      It will immediately drop >30%
      Then backing up the wheel barrow at $8.50
      You can thank me then.
      -not investment advice

      • On September 26, 2015 at 2:35 pm,
        Irwin says:

        $0.085 haha1

  34. On September 26, 2015 at 1:39 pm,
    Ulysses says:

    The mention of a “token rate hike” sounded much like a “token prick in the bubble”.

  35. On September 26, 2015 at 2:21 pm,
    Gabriel says:

    Ouch ! Shares of BitGold Tank 31% in 4 Days …


    I don’t know if Bob M. will come back to talk about the potential of this company !

    • On September 26, 2015 at 2:50 pm,
      Irwin says:

      Hope so – there must be a reason for the drop(?)

      • On September 27, 2015 at 3:17 am,
        A Listener says:

        Do not worry for a second Gabriel. Unless there is something fundamentally wrong with the company (Bitgold) then this decline likely represents a good buying opportunity for the contrarians in the crowd.

        Never run from a decline if you believe in the fundamental reasons for the company and its future outlook.

        • On September 27, 2015 at 4:40 am,
          Gabriel says:

          Esspecialy on the Venture …

          • On September 27, 2015 at 5:22 am,
            RICHARD (DOC) says:

            Thanks for the info on bitgold. I was just considering to look up the chart on this stock today and forgot. I noticed again that the stock was pushed on KWNs and it reminded me to look at it and then I forgot. There was an initial blush like there are with so many IPOs and at that time I didn’t want to purchase it—-maybe now it’s time.

          • On September 27, 2015 at 5:28 am,
            RICHARD (DOC) says:

            Just looked at XAU.V and it appears that if you are patient, you may be able to purchase this stock eventually below the IPO price. I believe this is just one of a number of stocks in the PM area that are signalling that it’s not yet gold’s time to slowly start its’ journey on the next bull leg. Think the fall of 2016 into 2017

          • On September 27, 2015 at 5:32 am,
            Gabriel says:

            More and more Emerging Countries are visiting the site (Alexa) and the Mobile app.is now available since the beginning of september .
            I agree with you Doc maybe it is a good time to buy.
            More info on the last presentation:


          • On September 27, 2015 at 5:36 am,
            Irwin says:

            Just noticed today that XAU.V has dropped “BitGold” and has taken the name “GoldMoney Inc”.


          • On September 27, 2015 at 5:42 am,
            Gabriel says:

            I think they changed the name for taxation reason but each company works separately. Bitgold is more like a PayPal business.

            Not shure we should look at this company with a correlation with gold.

          • On September 27, 2015 at 5:43 am,
            RICHARD (DOC) says:

            Irwin; correct—–when I first looked at the chart I thought I was looking at the wrong company and then noticed the recent IPO date.

          • On September 27, 2015 at 5:52 am,
            Irwin says:

            I agree with Gabriel – I don’t see why there would be a strong correlation to price of gold. Wouldn’t it be influenced more by world-wide acceptance of electronic transactions?

            Although I can see that if price of gold starts into the infatuation phase again, people will start buying anything with “gold” in the name.

  36. On September 26, 2015 at 3:36 pm,
    Agatha says:

    Posted September 26th, 2015 at 9:29 AM (CST) by Jim Sinclair & filed under Jim’s Mailbox.


    It seems clear enough that some indices/sectors are going to complete a 12-13 year minimum cycle.

    CIGA HL.


  37. On September 26, 2015 at 4:24 pm,
    JIM says:


    Good show today. Thanks to everyone for their efforts.


  38. On September 26, 2015 at 6:27 pm,
    RICHARD (DOC) says:

    I’ve noticed no one has posted about the COT report which was rather significant again this past week. It appears there is as much volatility in that report as there is in the conventional markets. For the PMs, the commercial position has moved to about a net 7000 contracts short for silver and a net 12000 contracts short for gold. I hate to be the bearer of bad tidings—just remember; don’t exterminate the messenger.

    • On September 27, 2015 at 1:58 am,
      Bob UK says:

      Thanks for the heads up Doc.

      Wales, with half its team injured before kick-off, beat England last night in an amazing coming from behind victory in the rugby World Cup. Having celebrated on real ale I don’t even have a hang-over – which is very pleasing – and a Welsh breakfast complete with cockles and lavabread beckons.

      That is a huge change to the short side by the big boys so it looks like they intend to smash the price down again soon. Pump the conventionals and smash the precious metals time again?

      There is a ‘blood Moon’ tonight so perhaps it is a sign of something ominous about to occur in the global markets.

      • On September 27, 2015 at 2:55 am,
        A Listener says:

        There is no Federal Reserve gold suppression scheme. Even if there were (unlikely) and the Fed chose to telegraph inflation is coming then don’t you think the price would rise rather than fall? In other words, if the dollar were to be pressed lower in the interests of opening the way to a rate hike then one of the tools to accomplish that would be to have a rising precious metals market. This is a scenario that is probable. Not because it was ordained from above but rather because it is just time. Look at the CRB and other commodity charts. Most are trying to put in bottoms. These are telling us a few things. First, that inflation will rise as commodity prices change direction and secondly that a rate hike is pretty much assured as the opportunity to hike once again becomes tenable. It is my belief that the Fed is waiting for a good signal a turn has arrived before they will risk a rate setting increase and so what we need to watch most carefully is what thee commodity sector as a whole is telling us.

    • On September 27, 2015 at 3:09 am,
      A Listener says:

      Doc, as soon as the boat is loaded too heavy one side then the capsize comes. I never worry about such things. A whole lot of short positions just means a lot of traders on the listing side of the ship are going to get wet.

      So what you just told me is good news for gold.

      • On September 27, 2015 at 5:40 am,
        RICHARD (DOC) says:

        What’s interesting to me at this time is the volatility—-I believe it could be a signal that gold is working very hard for it’s ultimate bottom. Of course that could last for some time yet but it tells me gold isn’t going to drop appreciatively lower any more. I believe I mentioned above that the price of gold is only now $25 below an inter-week low back in June of 2013. That’s a little less then 21/2 years ago. All the whining we’ve seen over the last 21/2 years and gold has held very steady in a bottoming bowl formation. I believe that’s what we will see as we climb out of the bottom in the future—the other side of that bowl curvilinear pattern as we start to move up.

  39. On September 26, 2015 at 10:08 pm,
    Skeeta says:

    Thanks again for the show guys !
    Unfortunately today I found a husband of a close friend passed away
    Leaving an 8 & 16 year old without a Dad.
    Please get an annual Doc check up everyone (he didn’t )

    • On September 27, 2015 at 2:02 am,
      Bob UK says:

      Sorry to hear that Skeeta.

      How terrible for your friend and her children.

      The hospice pioneer Elisabeth Kubler Ross, who defined the 5 stages of grief, wrote several excellent books about how to try and cope with the loss of a loved one. At an appropriate time it may be helpful pointing your friend in the direction of those books.

  40. On September 27, 2015 at 1:33 am,
    Andrew de Berry (Rev) says:

    Sound advice Skeeta – sorry to learn of your loss, A

  41. On September 27, 2015 at 7:08 am,
    Dick Tracy says:

    The Donald has the qualifications to run a country and unseat The Bush\ Clinton dynasty. America needs a man who understands how business works and can get their economy moving again. The people who feel unsettled by Trump are those resistant to change. http://thehill.com/blogs/ballot-box/255062-bill-clinton-trump-has-chance-at-nomination

  42. On September 27, 2015 at 7:08 am,
    Agatha says:

    JSMinset sept 26
    Gold “Tightness”: When There’s No More To Sell, There’s No More To Buy (At Any Price)
    Tyler Durden’s pictureSubmitted by Tyler Durden on 09/26/2015 20:20 -0400

    Bond China Chris Martenson Federal Reserve Hong Kong India March FOMC Monetary Policy Money Supply Precious Metals Reuters Switzerland


    Submitted by Chris Martenson via PeakProsperity.com,

    One of our long-running themes here is that the truly historic and massive flows of gold from West to East is (someday) going to stop, for the simple reason that there will be no more physical bullion left to move.

    It’s just a basic supply vs. demand issue. At current rates of flow, sooner or later the West will entirely run out of physical gold to sell to China and India. Although long before that hard limit, we suspect that the remaining holders of gold in the West will cease their willingness to part with their gold.

    So the date at which “the West runs out of gold to sell” is somewhere between now and whenever the last willing Western seller parts with their last ounce. As each day passes, we get closer and closer to that fateful moment.

    This report centers on preponderance of fascinating data revealing the extent of the West’s massive dis-hoarding of physical gold, for the first time, begins to allow us to start estimating the range of end-dates for the flow to the East.

    Here’s the punchline: there’s an enormous and growing disconnect between the cash and physical markets for gold. This is exactly what we would expect to precede a major market-shaking event based on a physical gold shortage.

    Stopping the Flows

    There are only two outcomes that will stop the process of Western gold flowing East, one illegitimate and the other legitimate.

    It becomes illegal to sell gold. This is the favored approach of central planners who prefer to force change by dictate rather than via free markets and free will. Unfortunately, this strain of political intervention is dominant in the West, particularly in the US and EU.
    The price of gold dramatically rises. A large increase in the price of gold will (paradoxically) cause greater demand for gold in the West and (sensibly) less demand in the East. This is what should legitimately happen given current supply and demand dynamics. But it may not.
    There’s always a 3rd option, we suppose: economically carpet-bombing China and India’s financial systems to scare/force some gold back out. Consider such an approach along the ‘economic hitman’ lines of thinking.

    This would be done, for example, by having outside interests sell the Rupee furiously, driving down its value and forcing the Indian monetary authorities to defend it by using up foreign reserves to buy the Rupee. Then wait for India to run out of foreign reserves and then casually ‘suggest’ that its government use gold sales to continue defending its currency. India’s leaders would have to find ways to somehow ‘coax’ gold from its citizens. I think we can all imagine the sorts of draconian rules and penalties that desperate governments would deploy in such a situation.

    As a side note, I believe this is the same process that was used to ‘coax’ a lot of gold out of the GLD trust since 2012. After enough bear raids on the price of gold, which began somewhat suspiciously almost exactly on the date that QE3 was announced, Western gold ‘investors’ lost interest in the yellow metal, sold their GLD shares in droves, and hundreds of tons of gold were liberated from that stockpile.

    What is truly odd from a chart perspective: this hammering down of gold started just after it had broken to the upside out of a textbook perfect triangle, when it looked seemingly ready to head off to higher values:

    But in the days immediately following the QE3 announcement, gold shed $100, then barely recovered, and just wandered lower until it was violently slammed from $1550 to $1350 over one night (of course) in April 2013.

    Now this was highly fortuitous for the ever-lucky Federal Reseve. After launching the largest money printing campaign in US history, the Fed did not need gold heading any higher, possibly providing a signal that would cast doubt on the wisdom or possible effectiveness of its easy-money policies. Policies, mind you, that the years since have proven to do little more than enrich the banker class and the 0.1%, as well as lard the system with extraordinary levels of new indebtedness and liquidity.

    The Fed Indeed Cares About Gold

    Gold, when unfettered, has a habit of sending signals that the Fed really doesn’t like. Therefore the Fed is at the top of everyone’s suspect list when it comes to wondering who might be behind the suspicious gold slams. Whether the Fed does it directly is rather doubtful; but they have a lot of useful proxies out there in their cartel network.

    To reveal the extent to which gold sits front and center in the Fed’s mind, and how they think of it, here’s an excerpt from a 1993 FOMC meeting’s full transcript. Note that the full meeting notes from Fed meetings are only released years after the fact. The most recent ones available are only from 2009. Listen to what this FOMC voting member had to say about gold:

    At the last meeting I was very concerned about what commodity prices were doing. And as you know, they got lucky again and told us that the rate of inflation was higher than we thought it was.

    Now, I know there’s nothing to it but they did get lucky. I’ve had plenty of econometric studies tell me how lucky commodity prices can get. I told you at the time that the reason I had not been upset before the March FOMC meeting was that the price of gold was well behaved.

    But I said that the price of gold was moving. The price of gold at that time had moved up from 328 to 344, and I don’t know what I was so excited about! I guess it was that I thought the price of gold was going on up. Now, if the price of gold goes up, long bond rates will not be involved.

    People can talk about gold’s price being due to what the Chinese are buying; that’s the silliest nonsense that ever was. The price of gold is largely determined by what people who do not have trust in fiat money system want to use for an escape out of any currency, and they want to gain security through owning gold.

    A monetary policy step at this time is a win/win. I don’t know what is going to happen for sure. I hope Mike is correct that the rate of inflation will move back down to 2.6 percent for the remaining 8 months of this calendar year. If we make a move and Mike is correct, we could take credit for having accomplished this and the price of gold will soon be down to the 328 level and we can lower the fed funds rate at that point in time and declare victory.
    (Source – Fed)
    There it is, in black and white from an FOMC member’s own mouth spelling out the primary reason why I hold gold: I lack faith in our fiat money system. He nailed it. Or rather, I have very great faith that the people managing the money system will print too much and ultimately destroy it. Same thing, said differently.

    And of course the people at the Fed are acutely aware of gold’s role as a barometer of people’s faith in ‘fiat money.’ Of course they track it very carefully, discuss it, and worry about it when it is sending ‘the wrong signals.’ I would, too, if in their shoes.

    The Federal Reserve Note (a.k.a. the US dollar) is literally nothing more than an idea. It has no intrinsic value. America’s money supply is just digital ones and zeros careening about the planet, accompanied by a much smaller amount of actual paper currency. The last thing an idea needs is to be exposed as fraudulent. Trust is everything for a currency — when that dies, the currency dies.

    The other thing you can note from these FOMC minutes is that gold pops up 19 times in the conversation. The Fed members are are actively and deliberately discussing its price, role in setting interest rates, and the psychological impact of a rising or falling gold price.

    Later in that same meeting Mr. Greenspan says:

    My inclination for today–and I’m frankly most curious to get other people’s views–would be to go to a tilt toward tightness and to watch the psychology as best we can. By the latter I mean to watch what is happening to the bond market, the exchange markets, and the price of gold…

    I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here. If we are dealing with psychology, then the thermometers one uses to measure it have an effect. I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.

    There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology. Now, we don’t have the legal right to sell gold but I’m just frankly curious about what people’s views are on situations of this nature because something unusual is involved in policy here. We’re not just going through the standard policy where the money supply is expanding, the economy is expanding, and the Fed tightens. This is a wholly different thing.
    The recap of all this is that the Fed watches the price of gold carefully, frets over whether the price of gold is ‘sending the right signals’ to market participants, and pays attention to gold’s impact on market psychology (with an eye to controlling it).

    In short, the Fed keeps a close eye on the “golden thermometer”.

    Back to the supply story for gold. Not long after gold began its downward price movement in 2012, the GLD trust began coughing up a lot of gold, eventually shedding more than 500 tonnes; a truly massive amount.


    In my mind, the absolute slamming of gold in 2013 was done by a few select entities and represents one of the clearest cases of price manipulation on the recent record. While we can debate the reasons ‘why’ gold was manipulated lower or ‘who’ did it, to me, there’s no question about how it was done. Or that it was done.

    Massive amounts of paper gold were dumped into a thin overnight market with the specific intent of driving down the price of gold.

    It’s an open and shut case of price manipulation. Textbook perfect.

    Even if these bear raids were performed by self-interested parties that made money while doing it, you can be sure the Fed was smiling thankfully in the background and that the SEC wasn’t going to spend one minute looking into whether any securities laws were broken (especially those related to price manipulation). Gold’s falling “thermometer” was exactly what the central planners wanted the world to see.

    Down and Out

    The paper markets for gold are centered in the US, while the physical market for gold is centered in London (but increasingly Shanghai). It’s safe to say that the paper markets set the spot price, while the physical movement of gold originates in London.

    What’s increasingly obvious is the growing disconnect between the paper and physical markets. This is exactly what we’d expect to see if the paper markets were pushing in one direction (down) while physical gold was heading in a different direction (out).

    The tension between these ‘down and out’ movements is building and, according to a senior manager of one of the largest gold refineries in the world located in Switzerland, the current price of gold “has no correlation to the physical market.”

    He notes a lot of on-going tightness in the physical market. Unsurprisingly, gold is moving from West to East with vaults in London supplying much of the physical metal that’s being refined into fresh kilo bars and sent off to China and India.

    But given the astonishing amount of physical demand, why has the price of gold been heading steadily lower over the past several years?

    The aforementioned Swiss refiner is equally perplexed:

    If I am honest, the only thing I could share now with you would be that I’m perplexed about the discrepancy between the prices and the situation of the physical market. This is something I still do not understand and is a riddle for me every day. For all people who are interested in precious metals, the physical side of this business should be given more emphasis.
    (Source – Transcript)
    There’s no mystery as to demand going up in China and India as the price went down. Interested buyers will buy more at a lower price.

    But its a big mystery as to why Western “investors” seem more interested in selling gold than buying it right now.

    Evidence of Physical Tightness

    Besides the first-hand experience of the Swiss refiner, there have been numerous stories in the main stream press also pointing to tightness in the London physical gold market as well as relentless demand from China and India being the driver of that condition:

    Gold demand from China and India picks up
    Sep 2, 2015

    London’s gold market is showing tentative signs of increased demand for bullion from consumers in emerging markets, after the price of the precious metal fell to its lowest level in five years in July.

    The cost of borrowing physical gold in London has risen sharply in recent weeks. That has been driven by dealers needing gold to deliver to refineries in Switzerland before it is melted down and sent to places such as India, according to market participants.

    “[The rise] does indicate there is physical tightness in the market for gold for immediate delivery,” said Jon Butler, analyst at Mitsubishi.

    The move comes as Indian gold demand picked up in July, with shipments of gold from Switzerland to India more than trebling. Most of that gold is likely to originally come from London before it is melted down into kilobars by Swiss refineries, according to analysts.

    In the first half of this year, total recorded exports of gold from the UK were 50 per cent higher than the first half of 2014, on a monthly average basis, according to Rhona O’Connell, head of metals for GFMS at Thomson Reuters. More than 90 per cent was headed for a combination of China, Hong Kong and Switzerland.

    London remains the world’s biggest centre for trading and storing gold.
    Shipments and exports are up very strongly and nearly all of that gold is headed to just two countries; China and India.

    India Precious Metals Import Explosive – August Gold 126t, Silver 1,400t
    Sept 10, 2015

    In the month of August 2015, India imported 126 tonnes of gold and 1,400 tonnes of silver, according to data from Infodrive India. Gold import into India is rising after a steep fall due to government import restrictions implemented in 2013.

    Year-to-date India has imported 654 tonnes of gold, which is 66 % up year on year. 6,782 tonnes in silver bars have crossed the Indian border so far this year, up 96 % y/y.

    Gold import is set to reach an annualized 980 tonnes, which would be up 26 % relative to 2014 and would be the second highest figure on (my) record – my record goes back to 2008.

    Silver import is on track to reach an annualized 10,172 tonnes, up 44 % y/y! This would be a staggering 37 % of world mining.
    With China and India’s combined appetite for gold being higher than total world mining output, it only stands to reason that somebody has to be parting with their physical gold and those entities appear to be substantially located in the US and UK.

    When There’s No More To Sell, There’s No More To Buy

    All the above evidence of a tightening physical market for gold is just the tip of the iceberg.

    In Part 2: Why Gold Is Headed Higher & May Be Unavailable At Any Price we look at the frightening inventory declines in bullion storage that the LBMA and the COMEX have experienced over the past year.

    We then lay out how this deliberate suppression of gold prices by the central planners is destined to end: with MUCH higher prices for gold, and much less availability. In fact, there is high likelihood we will experience a point at which it may be nearly impossible for the average investor to acquire physical gold, as there will be no sellers willing to part with it.

    Click here to read Part 2 of this report (free executive summary, enrollment required for full access)

    • On September 27, 2015 at 8:18 am,
      Bill says:

      On September 27, 2015 at 6:16 am, A Listener :

      When the DOW crash it was a buy way back. The central banks and corporation are not joined at the hip.
      When a recession occurs corporations slash and trash the excesses and get far more lean and mean. That’s called increasing margins. THATS why stocks go up.
      The fact that there was so much fear for years and there were people selling it….there was heaps of cash on the sidelines to power that market. Then there the capital flows from other countries that are seeking safety. Nothings changed other then expectations got ahead of themselves.
      I’m sure as hell not married to anything. If Gold stock index’s actually turn up Ill be buying with both hands. Theres many things I see that are positive for the US and here’s another…where you going to go?
      “We believe China is in a recession for a number of reasons, one of which being that wages have increased substantially over the past few years and
      the manufacturing cost advantage that China once had is arguably now gone. As a result, jobs are moving back to the U.S., Mexico, Vietnam and
      so on. Since 2008, China has overbuilt its manufacturing capacity and increased its debt substantially as a % of GDP. Although China has a lot of
      foreign currency reserves, we think that they will eventually deplete them (roughly 500 billion dollars gone so far). In our opinion, China’s current
      problems will continue to have a negative effect on the rest of the world but particularly on emerging markets, commodities and currencies. ”

      So much for the super cycle for commodities…and at point there will these people that are in trouble that will be net sellers of gold…When the going gets tough and you need cash…everything must go!

      • On September 27, 2015 at 8:39 am,
        Bill says:

        Yes Roberts Kiyosaki is at the bottom of the heap. Him and his cronies got on the gold pumping wagon near the top.
        Jim Sinclar was crunching numbers along with Eric Sprott on the hows and whys it was going way higher. Then it topped and melted. Fortunately I sold his Hedge fund way back. Min invest was $100k but requirements have eased and i wonder why? Its down 70%
        Ive tracked almost everyone out there for 17 years. These markets seperated the men from the boys. I only know 2 guys that went to 100% cash before the big one hit. They cashed up 100s of millions and that takes both guts and knowledge. Rule number one. 99% free info is crap. A good analysts spends time and money doing hard core research and needs to be compensated for the work they have done. Rule #2 if they have ads all over their site RUN. #3. Its better if not many people know them. People are sheeple and you need to be a contrarion.
        Nothings iron clad but given the track record of a few I know of it does instill a very high level of confidence.

        • On September 27, 2015 at 8:54 am,
          A Listener says:

          Yeah, I am pretty much stunned that anyone serious would mention Kiyosaki on this site. Holy sh*t……call in the baby sitters. There are children posting here now. They need a nappy.

          Ever wonder why Al does not interview the guy?

          • On September 27, 2015 at 9:19 am,
            Bill says:

            Im not a Martin Arm fan but i thing he’s definitely worth a listen too here.
            9am sept 26 just 5 min in or so

            I tend to agree on many points.

          • On September 27, 2015 at 9:36 am,
            Bill says:

            Ill add if you know something about running business the economy and human pschycology a light bulb should go on when you run into most of these guys.!you can see right through them.

          • On September 27, 2015 at 10:49 am,
            John Newman says:

            Listener and Bill. You should be stunned by the returns in Mr. Kiyosaki’s investments
            for decades in real estate and stocks. Never has he recommended more than 5% to
            10% at the very most in precious metals. This board is a cesspool of arrogance and
            ignorance. However, he is not recommending stocks or real estate at this time. Sell
            whats fully valued. Besides, most investors do not have the resources to be a client
            especially with this type of behavior and mentality. Never mind those that have come
            here for years focused on gold and missed the opportunities. Your loss.

          • On September 27, 2015 at 2:03 pm,
            Frank from moscow CCF says:

            John N……welcome, ….YOU need to have tough skin, if you are going to be on this board. Appreciate your thoughts……………….OOTB

          • On September 27, 2015 at 7:16 pm,
            John Newman says:

            Frank, thanks for your kind remarks. Don’t know too many Moscowvites but its a
            pleasure to meet you. I’m not unfamiliar with fraudulent type behavior and
            practices. However, I do admit when its the same individual always attempting
            to deceive it is a nuisance and can be very frustrating. Its their loss because they
            always are exposed and it can be entertaining (funny/hilarious) how they can be
            so very foolish. Caught lying is embarrassing. He does it every time too. LOL

      • On September 27, 2015 at 10:37 am,
        lawrence says:

        I never know Kiyosaki promotes gold as a way of investing or I may have missed it. I thought he was promoting real estate for cash flow, which he seems always mention about these words. Gold is without cash flow. He did say he is a gold bug who accumulating gold and silver since 1960s for insurance, if I remember correctly. But that is not investing. I think most of his talks seem to be in real estate or buy oil wells or something. Maybe I should have listened to him more closely. However, to be fair, I do know people who follow him as religion. Some got fairly rich. I don’t know personally someone who is broke yet since real estate has not crushed in Canada.

        • On September 27, 2015 at 12:38 pm,
          John Newman says:

          Lawrence you are correct. Mr. Kiyosaki has never recommended precious metals only as a very small position of 5% and 10% was not really advisable. Never has he pumped precious metals. Lots of misinformation on this board relating to this subject.

          • On September 27, 2015 at 12:46 pm,
            lawrence says:

            Thanks. I did take some of his advice, e.g. cash flow. It is a great idea by the way. However, I hate his notion of A students work for C students since I spent a lot of time to get education and I cannot afford my children to skip college.

          • On September 27, 2015 at 12:50 pm,
            lawrence says:

            Also I am sure if you follow his way, you have a good chance to get rich as long as you don’t over do it and willing to work hard. Just it is not really my way. I cannot give up my professional job since I enjoy it. But his trainers are terrible and interest only to rip you off, in my opinion.

          • On September 27, 2015 at 1:34 pm,
            Frank from moscow CCF says:

            DIG UP THE TAPE …..DATED….NOV. 1, 2011……..KIYOSAKI AND SILVER….

          • On September 27, 2015 at 1:35 pm,
            Frank from moscow CCF says:

            I READ HIS BOOK………….

          • On September 27, 2015 at 1:36 pm,
            Frank from moscow CCF says:

            I have said for years……….I LIKE REAL ESTATE…….there is a time and a place for all investments.

          • On September 27, 2015 at 1:49 pm,
            lawrence says:

            I am trying to be fair and respectful to any one with practical money making ideas. I am glad that I have company here.

          • On September 27, 2015 at 2:00 pm,
            Frank from moscow CCF says:

            If you want to preserve your wealth………go and listen to usawatchdog and Pronz,Neomi

    • On September 28, 2015 at 1:00 am,
      Brian says:

      Al (And Agatha)

      I’m pretty sure posting an entire article within this comment section is a violation of copyright.

      Please correct time, if I am wrong.

      In my opinion, the best approach is to cut and past a paragraph, or so, as a highlight and then past the link so that interested readers will be re-directed to the original source material on the author’s site.

      Don’t want to get KER in trouble, do we?


      • On September 28, 2015 at 1:12 am,
        A Listener says:

        Its what got Harvey Organs site shut down. But then, they were out to get him anyway.

  43. On September 27, 2015 at 8:58 am,
    Agatha says:

    Hes crazy imho

    • On September 27, 2015 at 1:37 pm,
      Frank from moscow CCF says:

      hell we are all crazy………………..

  44. On September 27, 2015 at 9:31 am,
    Agatha says:

    I meant Kyosaki

  45. On September 27, 2015 at 9:32 am,
    Bill says:

    Actually Im very disappointed in Sprott 15 years ago I use to do some research for them.
    Use to talk with James Fox head of sales all the time ( good dude ) and was invited to their elbow rubbing sessions. They were small firm a few funds and knocked the cover off the ball on a ongoing basis.
    Then Eric was more interested in building a brand and lost his way. I sold all out 8 years ago. Poor performance on too many funds. Many have gone from hero to zero. Nobody is infallible. I personally hate the markets but have no chioce at this time while looking at stupid priced realestate. Never sell a good commercial business with lots if land. My bad.

  46. On September 27, 2015 at 9:34 am,
    Agatha says:

    someone to listen to…
    Jim Grant Explains How To Hedge Against The Coming Money Paradrop
    Submitted by Tyler Durden on 09/26/2015 – 22:03
    “This is a monetary moment… we are looking at the beginning of the world’s reappraisal of the words and deeds of central bankers like Janet Yellen and Mario Draghi. You see monetary disorder manifested in super low interest rates, in the mispricing of credit broadly and you see it in the escalation of radical monetary nastrums that are floating out of the various central banks and established temples of thought: Negative real rates, negative nominal rates and the idea of helicopter money. So you need some hedge against things not going according to the script and that makes gold and gold mining equities terrifically interesting now.”

    • On September 27, 2015 at 1:34 pm,
      Matthew says:

      Thanks Agatha, Grant is simply great.

  47. On September 27, 2015 at 9:55 am,
    Bill says:

    Im just doing some doo dilly on china. We have not seen the second shoe drop and it will. The wheels will most likley fly off that bus. Its going to get ugly there.
    Chinese officials encouraged investors to pour more money into thier stock market. They handed out $20bill plus to 20firms from a new stabilizeation fund. These are desperate measure and are sure to fail. Why would they be so concerned? They are running out of tools to keep the bubble economy going. If this all goes down the shoot their realestate may be on the chopping block next. Thats one last thing thats has not suffered large losses. Many are highly leveraged there. That loss in confedence would crimp the. Consumer even more and their hope was that they would be the ones to keep their economy rolling. Other countries are buy alot less product from China now.
    Very interesting times indeed. I personally would keep very high levels of cash!

  48. On September 27, 2015 at 10:06 am,
    lawrence says:

    Read some Middle East news with interest (I barely care about the region before the oil price collapsed 🙂 ). Now it may be a major turn point in Middle East geopolitical balance and it even leads to a war among major powers. China is said to be entering to the Syria war on the Russian side. There also seems to a brilliant ploy on the Russian/Iran side to change the map in the Iraq, Saudi and Kurdish areas. US will not sit there watching. It has to choose side. As I know the leadership in China, they don’t make decision lightly. Once decision is made, it will last. With luck or with its resource for war, China has been always on the winning side when world powers collide, from first world war, second world war, Korean war, Vienam war and USSR/Afgan war. It looks like that at least the Administration’s Middle East policy is under serious attack.


    • On September 27, 2015 at 10:36 am,
      Bill says:

      Pure Bunk for many reasons.
      In the boom years we built huge over capacity and much now capped. Any major move in price these guys are standing around waiting to turn on the taps.
      Economys are in trouble and high debt levels. That’s not going away soon.
      USA has build energy independence.
      Look at production VS consumption….

      • On September 27, 2015 at 10:41 am,
        lawrence says:

        If you talk about debt, you look no further than to the south of your border.

        • On September 27, 2015 at 10:49 am,
          Bill says:

          Its all around. Interest rates will stay LOW…
          A lot of Americans have deleveraged…they are more conservative then before the mash…. I have many relatives down there doing very well….Their business are humming along…

      • On September 27, 2015 at 10:55 am,
        Bill says:

        I was just in WA and was shocked at how many home starts there were..its it a bubble? Doubt it when 20 min north to Van is 200% higher…..

        • On September 27, 2015 at 11:05 am,
          lawrence says:

          Real estate makes sense if you can afford to buy and renting out, as long as you don’t try to flip. It is related to economy and interest rate so there is a chance to lose as well.

          • On September 27, 2015 at 2:05 pm,
            Frank from moscow CCF says:


    • On September 27, 2015 at 11:17 am,
      Gabriel says:

      Time for a False Flag ?

      • On September 27, 2015 at 11:37 am,
        lawrence says:

        False flag is good only when there is a sure win. I doubt France and Germany are in any position to join the war or even willing to join. A war among three major powers could go nuclear easily.

    • On September 27, 2015 at 4:36 pm,
      A Listener says:

      So now China enters the fray? That makes 5 nuclear powers and a few other countries getting ready to do a dust-up with ISIL? But wait…..am I really reading the story correctly?

      Are we seriously supposed to believe that China, Russia, the US, Turkey, Saudi, Iran, France and Israel are all about to duke it out with a bunch of guys in Toyota pickup trucks?

      Seems to me the seeds are being planted for a big increase in the price of oil once the bombs start falling. I already cannot figure out who is supporting who and who is the real enemy.

      Sucks to be a Syrian these days though. Would this not have been a whole lot easier if someone had just popped off Bashar and been done with the problems a long time ago?

      So now China is going to send in troops? Wow. How long until the Japanese show up too. This whole story has gone beyond crazy.

      Note to self: When buying oil companies….stick to buying the ones that belong to our team.

  49. On September 27, 2015 at 10:39 am,
    Bill says:

    Oh ya
    Automobiles 30% more efficient then even a few years ago…
    Technologies as well..
    Theres a pile of reason..
    ” We find it interesting that most people want the price of oil to go up. We hear from a lot of investors, oil comp
    say that the price of oil will rise again, as it always does. We see many sell-side brokerage firms and oil comp
    ($60- $75 per barrel) for the next few years. Suncor, for example, recently stated that they invest for a 15% return
    It’s interesting because prior to 2003, we remember everybody saying that oil would stay around $18 forever. “

    • On September 27, 2015 at 10:52 am,
      lawrence says:

      Yes, every time when oil rises over 100, most people will target 120, 140, even GS did it. When it is down 60%, people start to talk about $20, GS did it again. Pathetic. If we get a supply demand chart, you will see that demand has been going up even in the oil crash except shortly in 2008. It is Saudi and US sharp production rise which crashed the price, I am sure Wall Street did its usual trick. Due to my working in oil business, I know people who work in Saudi Arabia. They double the drilling shortly after Ukraine issue broke out. This results in 1.5 million bbl a day output. At same time US shale went insane with debt borrowing. But Saudi is facing wars and shale cannot last, we see bankruptcies already. Shale oil is too expensive at this price.

      • On September 27, 2015 at 11:02 am,
        lawrence says:

        A top production engineer in the largest shale producer told me they need at least $80 to turn a profit.

      • On September 27, 2015 at 11:03 am,
        Bill says:

        60-70 max I think.
        Think outside the box! Things are changing!!

        • On September 27, 2015 at 11:13 am,
          lawrence says:

          Great information. Thanks. Do you mind to share any shale company which has less than 30% debt/equity ratio and making a good profit, or debt less than 1 time cash flow? I am all ears. I have been trying to find a good opportunity. I own only large companies now and eager to find some pure shale play.

          • On September 27, 2015 at 11:21 am,
            Bill says:

            I’m not following many individual stocks but just watching Indexes and looking for a break of a down trend.

          • On September 27, 2015 at 11:28 am,
            lawrence says:

            Thanks anyway Bill.

        • On September 27, 2015 at 11:40 am,
          Bill says:

          Im not a oil buyer these days. Was grateful I didn’t own any the last year!.

          • On September 27, 2015 at 11:53 am,
            lawrence says:

            I did not have much before and now getting more and more. I cannot stay too much in cash seeing the price rise around me. once they are up, they never comes down. Even gas price is fairly high.

          • On September 27, 2015 at 12:00 pm,
            Bill says:

            Natgas price is all time lows. We will short oil on any decent rally. If there’s another heckup in the market Oil will head south..
            good luck got to run to Whistler…

          • On September 27, 2015 at 12:12 pm,
            lawrence says:

            Have fun. I know exactly why natgas is low. I never acquired any natgas shares until I bought 150 Encana shares just for dividend this year and I regret it.

          • On September 27, 2015 at 1:08 pm,
            Bill says:

            Trucks loaded just waiting for Ferry.
            Here’s what Ive been buying. DIV.TO up 80% the last year and 7.3% yield…I’m buying dips and others I like. People are looking for yield…That will continue I believe.
            ENB/PA.TO (Preferred) would have been a better choice then Encana as its a distributor and etter then a producer in this climate. Pays a 5.7% div.
            If one thinks gold stocks are the way to go..GGN pays 16% Div!! Maybe it gets cut in this environment?? At least your diversified with it. I would buy if PM indexes stop acting stupid!

          • On September 27, 2015 at 1:21 pm,
            Bill says:

            Don’t feel bad. I know a manager that did 25% yr for 16 years went big on Natgas and blew up his fund. He was looking at sky high oil and saying that ratio was way out of whack and should catch up.
            New technology came along and killed the price of Natgas then oil splattered…He didn’t see it coming and he was very good…
            Markets are a crap shoot. If you can sift through the data and see the real economic number you can make safer bets. This is not the time to be a cowboy…leave that to Bob LOL.
            I was surprise to here Armstrong say oil was dead. I said that a couple months ago. We will be in a sideways market for years…Lucky for the consumer!! We wont see the food inflation we have. Ferry’s were going up every 6 months for years. Thats stopped and they capped it. Its all good. I spent $14,000 on fuel last year. I saved $4,000 alone there this year…

          • On September 27, 2015 at 1:37 pm,
            lawrence says:

            That fund manager did not do his research. There are a few reasons why Nat Gas will stays low. First gas producers are chasing liquids to survive so gas is produced as by-product at a loss. Second, shale producers are producing large amount of gas to get shale oil. They will release the gas to the air if it is allowed. Gas is continental so there is no where to sell extra gas and hard to store. US does not allow energy export. Unless these problems get solved, gas will stay low.

            BTW, food inflation in Canada is huge. My sister in law runs a restaurant and she had to sell it since price of meat increased by 40% and 60% two years in a row. My wife complains about rising food price and saying they are becoming hard to swallow. She complains and I have to hear. Did you see the super small cans of coke lately ~200 ml? They make me large. We may have to pack individual drop separately later

          • On September 27, 2015 at 2:10 pm,
            Bill says:

            Yes he missed the mark on Gas. I stayed away. Gas will stay low. Its all over planet earth.
            Food in Canada had a major run up recently all related to the Loonie pooping the bed. Should mellow out..The major move is over. USA much lower due to the strong dollar.

          • On September 27, 2015 at 2:13 pm,
            Bill says:

            Yes Beef went stupid. I was buying sides of beef from a friend. He quite selling locally cause the price went nuts. We use to pay $3.75lb….He would have to goto $5. He didnt care to do it anymore.
            Groceries are scary in Canada no doubt.
            I think we stabilize now though.

          • On September 27, 2015 at 3:54 pm,
            lawrence says:

            Bill , food price started jump years ahead of loonies tanked. Loonies’ devaluation definitely not help. I talked to my sister living in eastern US and she sees price going up too.

  50. On September 27, 2015 at 11:16 am,
    Gabriel says:

    Catalan Separatists Win Close To 50% Of Votes.
    What will happen with Spain now and the European banks ?

  51. On September 27, 2015 at 12:24 pm,
    bb says:

    This post is an excerpt from a recent TSI commentary.

    Excited talk of a silver shortage has made its annual reappearance. This talk is always based on anecdotal evidence of silver coins or small bars being difficult to obtain in some parts of the world via retail coin dealers. It never has anything to do with the overall supply situation.

    Shortages of silver and gold in certain manufactured forms favoured by the public will periodically arise, often because of a sudden and unanticipated (by the mints) increase in the public’s demand for these items. Furthermore, the increase in the public’s demand is often a reaction to a sharp price decline, the reason being that in the immediate aftermath of a sharp price decline the metals will look cheap regardless of whether they are actually cheap based on the fundamental drivers of value.

    These periodic shortages of bullion in some of the manufactured forms favoured by the public are not important considerations when assessing future price potential. The main reason is that the total volume of metal purchased by the public in such forms is a veritable drop in the market ocean. For example, the total worldwide volume of silver in coin form purchased by the public in a YEAR is less than the amount of silver that changes hands via the LBMA in an average trading DAY.

    A final point worth making on this topic is that the claims of silver or gold shortages that periodically spring-up are not only misguided, they are dangerous. This relates to the fact that the most popular argument against gold and silver recapturing their monetary roles is that there isn’t enough of the stuff to go around. The gold and silver enthusiasts who cry “major shortage!” whenever it temporarily becomes difficult to buy coins from the local shop are therefore effectively supporting the case AGAINST the future use of gold and silver as money. You see, a critical characteristic of money is that obtaining it is always solely a question of price.

  52. On September 27, 2015 at 12:49 pm,
    Agatha says:

    bill, do you know what you’re talking about..??

    • On September 27, 2015 at 2:49 pm,
      Bill says:

      Thats a loaded Question.
      I certainly dont post people that cant constantly produce results over the longer term. I dont post cheerleaders. The fact that I ran down the gold bugs and commodities nearly a year ago before snother big meltdown and Ive increased my bank account to the tune of $750k in the last year. Yup beter than most…you?!
      I’ll certainly let you know whrn Im unsure or Im wrong. Nothing wrong with that as everyone is sometimes…just react and move.

      • On September 27, 2015 at 2:52 pm,
        Bill says:

        Ps Agatha my wife works at the bank part time and it does look like we are prepaired better than the far majority. Most people care about what they drive even if they cant afford it. If I wanted to buy and AC cobrajet with cash I could. It may just be and was the best investment for years!

        • On September 27, 2015 at 3:52 pm,
          Bill says:

          Agatha by the people you post it say you dont. They all blew themselves up snd rheir readers over the years. And rhats just sad for their followers. My guys could give a shit about being popular. When you figure that out you may clue in.

        • On September 27, 2015 at 6:57 pm,
          Bill says:

          Bought the wife a Leaf $13k like brand new! $2 a week yo run. I have a 12 year old Tundra. I could care less to impress.
          Money spent better elsewhere.

  53. On September 27, 2015 at 1:35 pm,
    Matthew says:

    Get your free ebook to find out why Bernie Sanders is wrong, here:

  54. On September 27, 2015 at 1:39 pm,
    Matthew says:
    • On September 27, 2015 at 2:08 pm,
      Frank from moscow CCF says:


    • On September 28, 2015 at 1:36 am,
      Andrew de Berry (Rev) says:

      Yes Matthew this Pope Francis is ‘wrong’, more so if you read Leo Zagani’s book – Pope Francis – The last pope. The man’s an enigma – first Jesuit with a lot of baggage unaccounted for from Argentina; way too much choreography over his current US visit, along with veiled utterances that would leave us all car-less while rendering us all communist paupers. Meanwhile about now he clambers into his Boeing Dreamliner to return to his empire of untold wealth the Vatican.
      Conspiracists believe he’s but another front of the NWO; while the likes of HH might well regard him as the False Prophet of Revelation.

  55. On September 27, 2015 at 1:45 pm,
    JIM says:


    Do you think PAAS & HL will see their bottoms by this December? Thanks for your input.


  56. On September 27, 2015 at 2:27 pm,
    Frank from moscow CCF says:

    SPAIN ELECTIONS ARE IN…………MAJORITY WINS………..push for new state, should be interesting. EURO., BYE,BYE

  57. On September 27, 2015 at 5:08 pm,
    A Listener says:

    Waiting for the Blood Moon to appear. Should start in about an hour if I got my information right and then last another hour or so after that. Kind of cool. I always enjoy celestial events.

    • On September 27, 2015 at 6:28 pm,
      A Listener says:

      So it has started. But the color is not red as I expected. Not yet anyway. Looks like a black disc slowing moving across the face……maybe in another half hour it will be more colorful.

      • On September 27, 2015 at 6:38 pm,
        Brian says:

        NASA site:

        “The moon does not make its own light; it reflects light it receives from the sun. During a lunar eclipse, the moon appears less and less bright as sunlight is blocked by the Earth’s shadow. As totality approaches, sunlight reaches the moon indirectly and is refracted around the “edges” of Earth, through Earth’s atmosphere. Because of this, almost all colors except red are “filtered” out, and the eclipsed moon appears reddish or dark brown. This filtering is caused by particulates in our atmosphere; when there have been a lot of fires and/or volcanic eruptions, lunar eclipses will appear darker and redder. This eerie — but harmless — effect has earned the phenomenon the nickname “blood moon.”

        • On September 27, 2015 at 6:48 pm,
          A Listener says:

          Filtered light through the Earth atmosphere blocking all but red. Makes perfect sense to me. Thanks Brian.

          • On September 28, 2015 at 4:56 am,
            Frank from moscow CCF says:

            MOONDAY………..BLOODBATH……..looks like a blood bath MONDAY……..

  58. On September 27, 2015 at 5:09 pm,
    A Listener says:

    Because that pickup truck army is so dangerous. This is all nuts.

  59. On September 27, 2015 at 5:30 pm,
    A Listener says:

    I think the people speculating that Janet Yellen is soon going to be replaced as head of the Fed are probably right. That would be the obvious answer to the markets who have become confused recently over the lack of conviction in establishing a rate cycle increase. And it is not that Janet did anything wrong. But like all major institutions (including political parties), one of the most effective ways to change public perceptions is to change the leader. The idea is to improve confidence and create a sense of certainty. A change at the top would probably be greeted enthusiastically at this point if only because Janet’s style has left markets feeling cold and a little confused about the efficiency of Fed policy making. We will see, but my sense tells me that Mrs Yellen may have no choice but too retire due too signs of ill health.

  60. On September 28, 2015 at 1:47 am,
    Andrew de Berry (Rev) says:

    Very impressive blood moon last night. For all the talk that it’s a natural phenomenon, lingering Jewish associations of Shemitah and blood moons still lodge in the minds of many., i.e. something big if not ominous is about to happen. That said anything ‘big’ right now looks likely to kick off regardless of what the moon gets up to.
    I agree A Listener Janet Yellen looks poised for the chop. Whether or not her choking fit was choreographed or not, she comes across as a busted flush, not to mention an implausible liar.

    • On September 28, 2015 at 2:06 am,
      A Listener says:

      Choreographed? That is probably the right word Andrew. The drama came during the final minutes of the speech. I had not considered that it was all deliberate but anything is possible. Mish was speculating on this subject yesterday and I suspect he is right. It is likely just a matter of time before Janet resigns due to ill health.

    • On September 28, 2015 at 2:27 am,
      A Listener says:

      I agree the date and timing of this blood moon is pretty interesting though. It was not only that it landed on the Jewish holiday of Sukkot which started yesterday and runs until October 4 this year but this is also the date of the finding of the true cross celebrated in some Orthodox churches. The story goes that Queen Helena went to Israel in the year 326 and located remnants of the cross used to crucify Christ. Fragments were dispersed to important churches in different countries and the event is still celebrated in Ethiopia where it is claimed one arm of that cross is stored and still venerated there. No doubt you are more familiar with the story than I am Andrew. I just thought it interesting to mention.

      The Finding if the True Cross — Wiki

      • On September 28, 2015 at 3:26 am,
        Andrew de Berry (Rev) says:

        Thanks for that AL, although I can’t be doing with all these relics – Enough fragments of the cross it is said to build an entire ark!! Besides which maybe Helena had three or more arms! Lots of the saints seem to have had three or more big toes!

  61. On September 28, 2015 at 1:53 am,
    A Listener says:

    Coffee is looking good. Sugar finally paying off. Copper not cooperating by dropping back to 2.20 as I suspected by this morning but its just a matter of time and a bounce is in store.

    So anyway, the blood moon came and went. I counted all the important bits and they are still there so life will go on. No asteroids (yet)….and the Cern reactor did not send us to another dimension as predicted by too many.

    Looks like the world will carry on for another day.

    We still have big speeches by the President of China and by Putin this week before the General Assembly. Putin’s last major interaction with the West was the Sochi Olympics of course. And days later there was an invasion of the Crimea.

    Hopefully this week there won’t be any similar follow up of trouble once he goes back to Russia but by the looks of it Syria will be on the discussion board and Putin looks intent on supporting Assad militarily and assuring Russian regional dominance in that small part of the world.

    They won’t be giving up Tartus without a fight by the looks of it and short of being forced out in a shooting war (100% not going to happen) then only a Syrian regime change will make that happen. Clearly, Putin must destroy ISIL and the resistance forces opposing Assad before those groups send the Syrian dictator packing if he has any hope of clinging to the port there.

    What is interesting is just how determined he is to hold the ground. But how far will he go? Will Russian forces confront Saudi Arabia, Turkey or Israel for example? And with the French air force there bombing targets then how long before we see conflicts over airspace.

    The situation is already out of hand as it is but the US and Europe seem determined to rout Bashar and have him replaced by someone with more of a pro-Western viewpoint (which is by default not a bias favoring Russia).

    One thing that is not in doubt though is that a proxy war between superpowers could break out at anytime and none of us should look forward to that day. Neither will it be the first time this has happened in the region.

    Back in 1979 there was a face-off between Syria and Israel for air supremacy over the Golan. But as it turned out this was really an air battle between the newer model MIG’s and F16’s. Call it a demonstration of technologies with Russia on the one side and the US on the other.

    All the MIG’s were shot down and Russian pilots found to be at the controls. Big surprise. Anyway, this time there is going to be no allusions about who is flying the newer equipment. What remains to be seen is who shoots at who first and which technology comes out ahead in the Middle Eastern proving grounds.

  62. On September 28, 2015 at 1:55 am,
    Andrew de Berry (Rev) says:

    Yellen in a catch 22 of hers and the Fed’s own making.


    • On September 28, 2015 at 4:38 am,
      Frank from moscow CCF says:

      Grandma…..needs to retire.

      • On September 28, 2015 at 4:57 am,
        Frank from moscow CCF says:


  63. On September 28, 2015 at 4:10 am,
    A Listener says:

    Freeport to dilute existing shareholders as much as 20% with two new share issues under contemplation…….

  64. On September 28, 2015 at 4:37 am,
    Frank from moscow CCF says:

    PLATNIUM ………DOWN $22…….getting close to breaking 900…..interesting.

    • On September 28, 2015 at 5:35 am,
      A Listener says:

      Stop it Frank, I am getting screwed today.

    • On September 28, 2015 at 5:56 am,
      A Listener says:

      Judging by the hourly chart we have a breakdown in gold today.

      • On September 28, 2015 at 10:04 am,
        Frank from moscow CCF says:

        Hourly, weekly , monthly…………what is new……………

    • On September 28, 2015 at 6:29 am,
      A Listener says:

      Copper did cooperate! We are within 3 cents of 2.20 basis the futures chart and it may be putting in a nice double bottom although a little more time will tell. Here is the weekly chart for the curious…..

  65. On September 28, 2015 at 6:40 am,
    Agatha says:

    Glencore Implodes: Stock Plunges Most Ever, CDS Blow Out To Record Up On Equity Wipeout Fears
    Submitted by Tyler Durden on 09/28/2015 – 07:20

    Those who listened to our reco to buy Glencore CDS at 170 bps in March 2014 can take the rest of the year off. As of this moment, GLEN Credit Default Swap were pushing on 600 bps, 4 times wider, and on pace to take out the 2011 liquidity crunch highs. After that, it’s smooth sailing to all time wides and the start of a self-fulfilling prophecy which leads to the Companys’s IG downgrade and the collapse of trillions in derivative notionals as what may be the trading desk of the biggest commodity counterparty quietly goes out of business.

    • On September 28, 2015 at 7:47 am,
      A Listener says:

      We don’t yet know the half of it Agatha but we do know a little and this is BIG trouble as there is some 90 billion of debt exposure to Glencore amongst a long list of banks which includes the tottering Deutsche Bank.

      Who knows, this may be the company that sets off the derivatives nightmare that so many have discussed in the past as Glencore unwinds triggering a derivatives and counter-party crisis.

      Banks with exposure to the deals that merged Glencore and Xtrata back in 2012 include ANZ Banking Group, Banco Santander, Barclays Bank, BBVA, Citigroup, Commerzbank, Commonwealth Bank of Australia, Credit Agricole CIB, Deutsche Bank, HSBC, JP Morgan, Lloyds TSB Bank, Mizuho Bank, National Australia Bank, Royal Bank of Canada, Royal Bank of Scotland, Standard Chartered, Toronto Dominion Bank and Westpac.

      Its a who’s who list of the worlds biggest and nobody will escape a Glencore collapse unscathed. Maybe this is what the blood moon was telling us. Or maybe this is Armstrong’s 2015.75 turn date. Whatever it is none of its good and we should all be VERY cautious for the next while. If another financial crisis is coming we are all going to feel it. So we should watch the overnight interbank lending rates again as those were our warning the last time around and no doubt will be on the rise again.

      Here is the story of the 2012 Xtrata / Glencore merger for a refresher. The shit is about to hit the fan…..

      Banks face exposure issues on Glencore-Xstrata merger. — Feb 7, 2012 — Reuters

      • On September 28, 2015 at 8:11 am,
        lawrence says:

        Good info. Thanx

        • On September 28, 2015 at 8:13 am,
          A Listener says:

          We are going into crash mode Lawrence. I would not have said that last week but this is very, very bad shit.

          • On September 28, 2015 at 9:27 am,
            lawrence says:

            Too many things are crooked. Wish the straight deals era returns.

          • On September 28, 2015 at 10:03 am,
            Frank from moscow CCF says:

            ditoo…..and ditto…….lawrence

  66. On September 28, 2015 at 7:54 am,
    A Listener says:

    NASDAQ just did a death cross. So it can be added to the NYSE which has already posted the same last week. Maybe this is a good time to take some cash out of the bank…..just saying….

  67. On September 28, 2015 at 8:06 am,
    Agatha says:

    appreciate AListen….

    • On September 28, 2015 at 8:10 am,
      A Listener says:

      Oh hello Agatha. I was wondering where everyone was this morning. Judging by the tomb like silence I cannot be the only one losing money today. The good news (if there can be any)is that the CRB Index looks very much like it will do a second retest of its long term lows at 185 which means it may post a very solid double bottom. That remains to be seen of course but I retain some level of optimism despite a bloody red day…..

  68. On September 28, 2015 at 8:25 am,
    A Listener says:

    “I can’t get terribly excited about gold beyond a trade and I’m not even sure I’d play it for a trade.” — Louise Yamada

    Louise Yamada: Major Sell Signals on All Indices — Financial Sense

    • On September 28, 2015 at 10:02 am,
      Frank from moscow CCF says:

      Yamada……is usually spot on…….

  69. On September 28, 2015 at 10:23 am,
    Frank from moscow CCF says:

    REAL ESTATE UPDATE…….at zerohedge…………anybody thinking of buying overpriced real estate, and think they are going to rent it to the ECHO generation, might want to read the updated info……………………good luck……………..