Weekend Show Preview – Jim Rickards
Below is a special preview of this week’s weekend show. On an ongoing basis we will be providing one segment to Gold-Eagle.com to post early through way of a YouTube video. Since Jim is a huge name in the industry we decided to feature him this week. In total we recorded 3 segments with Jim. The preview is of segment 2. Tune is on Saturday when the full interview will be posted along with the full weekend show.
Also click here to visit Gold-Eagle.com for more precious metals coverage.
Looks like CRIMEX IS WORKING OVERTIME IN LONDON……….gold smashers with the help of the Economic good news(joke).
Bomb goes off in Paris………all is well………..or was it a gas leak, Passing gas from the Fed.
The question really is what will maintain its value over time, has high value density, has a small spread between bid and ask, and reasonable volume.
Lots of things fit the bill; not just gold.
Unique scarce or rare items often have the greatest value density.
e.g. rare gems, e.g. diamonds or old masters art often have great value density but have low volume and a large spread.
Gold clearly has a scarcity value, relatively high value density, is easily traded in large volumes with relatively low bid/ask spreads and history has shown over many lifetimes it tends to track with world money supply inflation.
But as Mr. Temple has often pointed out it is not as useful as cigarettes or alcohol, the sin commodities, for everyday trading.
As ever, I wish to promote silver as a compromise material to store wealth.
Not only does it have value density within a factor of 80 of that of gold, but has greater utility and smaller total world value being stored by countries, banks and the general public. CFS(Cash For Silver)
GOLD !
I agree silver over gold but like you mentioned sin commodities will be more useful for trading. If you have some drugs, alcohol, food you will have no problem bartering. The majority of the population will never own gold or silver besides the odd piece of jewellery. So they wont value it as high.
History is not on your side. You’re right, the majority will probably never own gold/silver but that won’t hurt their performance.
Silver!
I always found it odd that Mr. Rickards tends to point out that he was on the negotiating team for the Iranian hostage situation……suggesting that he was somehow and integral part of it. I always wondered just how old he was back then. Was he still struggling with acne ?
Rickards graduated from Lower Cape May Regional High School in Cape May, New Jersey, in 1969.[1] He graduated from The Johns Hopkins University in 1973 with a B.A. degree with honors and in 1974, from the Paul H. Nitze School of Advanced International Studies in Washington, D.C. with an M.A.[2] in international economics. He received his Juris Doctor from the University of Pennsylvania Law School and an LL.M in taxation from New York University School of Law.[3]
As general counsel for the hedge fund Long-Term Capital Management (LTCM),[4][5] he was the principal negotiator in the 1998 bailout of LTCM[6] by the Federal Reserve Bank of New York.
He had been an attorney for about 5 or 6 years at the time of the hostage negotiations.
Well, he is right about people not having wealth, they have digits.
This has been mentioned a few times on this site.
Stewart Thompson repeats the same thing, turn the digits into dollars,the dollars to gold, then ya have wealth.
This is one of the risks of the market, mining is risky enough, then we have broker risks,bank risks etc etc this is one resaon Im not interested in peanuts, I want 100s of % from my investments.
Yes, I recall people explaining a couple % repeatedly with etfs etc is worthwhile.
This interview sounds like a repeat of the Rickard sgt interview I posted yesterday/day before?
Thats something about Rickards, he does an interview and he repeats the same stuff multiple times, until he writes another book. lol
OFF TOPIC, but interesting Supreme Court decision.
http://www.esquire.com/news-politics/politics/news/a43497/anthony-kennedy-public-defenders/
Diss is supper in Germany ! ( The frank Sinatra of jesuits hitler ! ) https://www.youtube.com/watch?v=YzpJglb4Qio
Unfortunately most of our politicians are too busy counting their bribes from lobbyists and thinking of other corrupt gains to respond:
http://www.zerohedge.com/news/2016-03-31/china-unveils-trumpian-tariffs-all-foreign-goods
So much for Obama’s free trade pact with Asia, that China did not sign, of course!
OFF TOPIC:
With the European tourist season starting in a couple of months, a new definition of insanity……
Great show and lesson about liberty:
http://www.tfmetalsreport.com/podcast/7539/a2a-dr-dave-janda-operation-freedom
I think Jim is also selling a new service as well, but I cannot recall what it is.
His website is jamesrickardsproject.com I think.
Looking forward to it. Rickards is brilliant but he’s not for traders.
Not discussed in this segment was that global economist and insider James Rickards’ theory that the central banks have a 10 year master scheme — which began in 2010 — to dethrone the US dollar’s world reserve currency status and herald in its replacement, the IMF-printed SDR.
I personally doubt this theory, for two reasons.
1. There aren’t enough SDRs.
2. China wants to and will join the SDRs and will cause problems/delays for too long.
The IMF will next meet on April 13, maybe more information will come after that.
Certainly there was central Bank cooperation after the last G20 meeting giving extra money printing to allow some Chinese devaluation.
Will all the central banks collude to allow a change in US dollar as Reserve currency?
I can’t see it.
The Facts of SDRs are at:
https://www.youtube.com/watch?v=70xBQ2lL_pE
another Rickards chat.
Well we have a big dive in silver and oil today that were, or should have been, expected. I just want to mention again that new months often start with a bang and it looks like April will be one of those.
As crude turns down we should anticipate that stock markets will follow if the past months correlation holds.
Indeed that is what we are seeing in the early hours as European indices are off 3% already at this hour and US indices are beginning to following along. The substantial declines in precious metals and crude are warning us April will be a month to remember.
Silver itself just broke a key support and that is going to be bad news for those who refused to hear that metals would correct off the current pattern. What is interesting is that silver is performing as we might expect it too. It did not follow gold up during the parabolic run in February but it is certainly leading gold down and that should be respected.
My take is that there is still time to get short gold based on silvers action and we can thank the Gods of silver for the lag effect that warns us when some trades are getting set up to move. Gold is still holding up at this hour but I don’t expect that to last.
Its going to be an interesting day.
You should be buying (especially silver and/or silver miners) on days like today. Are incapable of thinking beyond one day?
*Are YOU
Sold at the top buddy. But you buy. Be my guest.
Yeah, sure ya did. I mean, congrats. 😉
You are getting creepy again. Everything is posted on this site. Go back and read it and stop being a worm.
Is it fun living inside a fairy tale?
What your problem girlfriend?
For three years now, just you, Caitlyn.
Four years. I hope you learned something.
And what was that again about buying miners and holding for the next five years!!! Ha…some people honestly crack me up. JNUG down 8% already. Just one example. Ooops. Somebody made a boo-boo in their calculations to get long and stay long.
Maybe when that writer whose name I will not mention, said that everything will go up together he REALLY meant everything will go down together. Hmmm. Is it possible to make that mistake on a keyboard?
**Crickets**…..hmmmmm
Just admit it Matthew. Birdman is correct on metals one more time. When will you ever learn?
You’re hilarious. Just as bad are all the people who actually believe your bs. Sad but FUNNY!
They believe me because they have confidence in me. They have confidence because they know I don’t have any agenda on any aspect of the market and I am not a gold-retard. Try it sometimes. Maybe people will start to take you seriously for a change.
Oh, ok, thanks for clearing that up.
Morning Bird,
Pretty good smackdown today on on gold. Good call so far on your timing for the drop to begin april 1 – 4.
Miners seem to be holding up relatively speaking (figured we’d see more selling with the gold move). You think bugs are in BTFD mode and that accounts for this. Would appreciare your thoughts on this. Thanks.
Re: “Miners seem to be holding up relatively speaking (figured we’d see more selling with the gold move).”
Doc Fan, you noticed something that Bird missed and, as you know, the implications are positive, not negative.
Even my portfolio of speculative juniors is down less than silver today – despite the selling pressure that 2-300% recent gains tend to bring.
If this pullback in the metals were anything to worry about, I should be taking a beating right now.
Silver (& SLV) has tested the 150 day MA twice today and is now bouncing but it could easily still go to the 100 day MA 20 cents lower. Which is why I prefer to scale into positions rather than going all in at one price (see Lewis’s post below @ 8:48).
Notice that despite today’s big plunge, the RSI remains above 40. This resilience is typical bull market action.
Thanks Doc Fan. Yes, the bugs will buy the dip. They always do. If you have been reading the popular gold writers you will know that most think gold is in launch mode and it will go much higher. They are talking 5,000 and 10,000 dollar gold again and ten and twenty baggers on stocks.
Like time stood still. They never missed a beat.
This is predictable and to be expected. Now they will chase for more returns and tell you things such as “buy the dip”. Its a bit like giving heroin to a Junkie. They cannot believe the high has ended and most are in disbelief that we could get such a great move up without much more follow through.
They are in for another big disappointment though because we are now going to follow the channel back down to the bottom. That is the direct result of gold being unable to break out of its bear trend.
Sorry I don’t have better news. But this is still a bear market in precious metals.
Re: “They cannot believe the high has ended and most are in disbelief that we could get such a great move up without much more follow through.”
——
Wow, now there’s the LOL of the year. This has already been the best start to a new bull market in mining stock history and there you are imagining things to make yourself feel better.
Something tells me that you haven’t made any money at all this year.
Thanks for the replies guys. Appreciated!
Another great call chicken farmer.
Mathew as Farmer is over 90% correct with these calls, actually about 98% correct, you might wanna take notice when he says a drop is comin.
I sure as heck do, and I read what seems like the entire internet every day, Farmer is the best bar none at “drop calls”, yes Farmer you get the ups too but those drops are incredible.
Others do see them coming and they can get close, but Farmer? he can call to the exact day.
Actually Farmer Im going to stop being impressed with the day, I wanna see some exact hour calls. lol
uncanny actually, well done again Farmer.
Truth is I am only as good as the last call bb. I try my best to get it right. Hopefully you will be forgiving the day I mess one up because it happens to everybody eventually. This has been a pretty good winning streak though after all these years. Even I scratch my head over it sometimes.
Kind words are always appreciated though. Cheers. 🙂
And you, B, might wanna take notice that I made a fortune because I bought all major weakness last year while Bird Farmer gave me hell every step of the way. He only wishes he could be so “wrong.” Lol.
Bird focuses on the day to day blips because he probably has no skin in the game at all. He’s here to talk, and that’s about it.
Notice how bearish he was right at the low for the day? Anyone who bought when I said today was for buying is already up. If I were like Bird, I’d be doing cartwheels right now.
Oh look there’s Bird now…
Mathew, how the heck would I know if you made or lost anything? Anyone on here can say whatever they want, true or not. There is absolutely no way I could verify what you say or you do without you posting a pic of your trading account when you buy and sell.
To be honust, I hope you and everyone else does great, but if you or anyone else does or doesnt really doesnt affect me at all.
But Farmers calls? They verify themselves, to the point it IS uncanny sometimes.
Nobody is 100%, everyone seems to get “derailed” at times, Im sure it has to do with the alignment of planets or some such thing, but it happens. To everyone.
We have been listening to the doom and gloomers for some time now, “worse than o8 ”
“world hasnt seen such devastation thats coming”
so much and so long and nobody is “gettin nuked” it easy to tune it out.
But now? Farmer is sayin a deflation cometh.
That my friend, is scary.
I believe now is the time to heed the “digit” reality, if all you got is digits, you got nothin but digits.
Maybe keep in mind, that “cash” you have in the market,bank,trading account, that could be gone 100% overnight.
Gains vs risk needs to be weighed.
For one, B, I mentioned it here throughout 2015 that my Impact Silver position was growing. I said it when it double and tripled versus its January 2015 size and I mentioned it at least one more time as it grew much larger. I made the comments BEFORE we knew how well it would turn out. As for the whole portfolio more than doubling in 2016, if you want to make it worthwhile, I can prove it. I’m sure there’s a legal way for us to make a bet.
As for Bird’s “uncanny” calls, when has he made a call that isn’t both tiny and obvious? He blows every intermediate term low while I’ve nailed each one. The blips he calls would screw you up if you acted on them. On top of that, he’s always most bearish at the lows. That’s not how you make money.
So, where’s his call to buy gold when it bottomed?
I nailed this:
What did Bird provide? Nothing useful.
Just remember that Bird is the one that came back swinging after his tantrum and self-imposed timeout. I was ignoring the troll until he started in again.
That call came on December 4th in the first of a series of posts when I turned bullish metals and projected the gold price rise up to 1220. This first post was tentative but those that followed were more certain as my idea was developing. And I was correct Matthew. In fact as far as I know NOBODY made a call that gold would meet or exceed 1220.
Not here….not anywhere…..and you didn’t do it either.
——————————–
On December 4, 2015 at 11:00 am,
Birdman says:
I have a theory I am working on. We will see. But as you know not all these ideas work out well. Today I got squashed on oil for example but did well with everything else. No matter. I decided to hold that dog since despite the lack of commitment from OPEC we can see that crude is still near the bottom of its range so there should be some bounce back next week. For gold though I was being conservative with my 1200 dollar comment. I would just point out that on a daily chart (viewed since August) that gold looks like it is forming a megaphone pattern. The high price actually projects closer to 1220 if that is what technical is taking shape. Guess we will have to wait and see but I am quite positive overall right now and have turned bullish.
—————-
BTW, nobody cares how much you made on any of your trades. and nobody asked you either. It has never been the culture on this site to engage in pissing contests over dollars so why would you want to start that now?
Or are you feeling insecure?
Then there’s this:
Give it up sweetie. You got nuthin but a broken record.
You’re the queen of pissing contests, Bird.
You too could have made a lot of money had you understood this:
On January 9, 2016 at 11:30 am,
Matthew says:
CLGRF weekly looks fantastic but I am more excited about plays that offer that optionality discussed in segment 5.
However, I’m not interested in the very low grade high capex huge deposits. Those will do best near the end of a raging bull when there’s lots of dumb money chasing starry-eyed stories.
I much prefer deposits that were recently economically feasible but became “worthless” due to the price of gold and especially silver declining below the cost of production. The re-rating of these deposits as they pop “into the money” can provide very quick, big gains. In fact, the big gains will start as soon as the metals have bottomed as the market will anticipate the inevitable.
As an aside, this might be, at least in part, the thinking behind Alexco keeping the drills turning and essentially doubling their high grade silver resource since 2011. I am one shareholder that is in no hurry to get production going again. Growing the “bank” in the ground and producing when silver is much higher seems like a far better strategy to me. For those who prefer production despite the associated added risks, miners like Americas Silver will offer plenty of leverage to the metal price.
Many miners offer this “optionality” but it’s more common on the silver side (as a percentage of the field).
Yesterday you were busy being snarky and snivelly with Shad and today you are just redirecting to me while pathetically trying to pump your damaged ego in front of all the readers here on a day when gold and silver kicked you in the nuts.
Have you thought about a long walk with your dog instead?
Mathew, Ive owned ipt forever, have the “core” and in and out (had a girlfriend once that would say”doesnt matter what ya do it all boils down to the ol inandout”
Anyway, anyone that watches pm stocks can pick obvious ones like ipt, those really are not that much of a challenge.
Those dividend payers, jay taylor? interviewed a guy, airline stocks etc increaseing dividends 100s% over the last year.
nano caps, that increase 10 times etc, those are the real picks if ya ask me.
but ipt from 10cent? to 40? is good. nonaoes can do that in a couple days tho.
Farmer isnt TRYING to impress, he just does. Not that yours and everyone elses input isnt valuable.
To ich his own Mathew.
Just being in PMs when they really do turn will make coin, no matter what ya own.
Traders? need to be glued to the screen, thats not for everyone.
Some people have other priorities.
-Yeah sure, B, anyone can pick them but how many do you think backed up the truck right into the lows? As importantly, how many held positions that were large enough to make a big difference when it turned around? If all you did is hold your core for years, then you probably have a long way to go to get even. I traded it and averaged down so aggressively that my position is now worth far more than it was at the 2011 peak. And you should know by now that the vast majority of investors buy high and sell low so most people did not do very well.
-IPT has gone from .11 to .45 and that is just the beginning. You are funny to think that it is not a nano.
-Farmer isn’t trying to impress? You are absolutely out of your mind if you believe that. You’re just full of jaw-dropping comments, B. Wow.
So says the guy who calls every trade after the fact with perfect 20/20 hindsight. Or when he is not doing that he is calling EVERY trade so that afterwards he can claim he picked one right.
Thirty comments a day….all bullish metals and miners……and 28 are wrong.
What an achievement!
You have no credibility in my eyes.
Sorry Matthew. All hot air and blue pitchforks. Sell it to your wife. I am not buying your BS though.
Thank goodness, Bird. I’d most likely be living in a cardboard box if you found me credible.
You really should be studied.
Mathew
No I dont consider ipt a nano, I call it a penny stock.
nano to me is under 1 cent. Which can jump to pennies in a few days.
I didnt mention it when I did, dont see why anyone would care, but I hit one ahwile back, (think I mighta mentioned here to make sure to own one) it went from .5 cents to 2.5 cents in 3 days? About the same time I added ipt about 15? 13? sold above 30 (kept core) but that took how long?
This was a 20% run in gold? I would imagine real coin woulda bin made with a triple leveraged etf and let er ride.
But stocks, good grief they can tank so fast ya gotta take profit, ipt just went from 45 to finish at 34 today for example.
Trading is profitable when ya catch the wave right.
I need the bull tho.
Just noticed Mathew, you said acting on Farmers drop calls would screw someone up.
Not true, saved me coin,MULTIPLE TIMES, if I had a better vehicle to short with I would short too, but the ones on the Canadian market blow.(not good)
Bird recommended shorting, he was right, best I could really do was go, not long.
So I have to be happy with rebuying shares I like at better prices.
Which I do enjoy, lol
Thanks again Bird, but to be honust I really enjoy the analysis of events as much as rebuying cheaper, well maybe a little of both, hmmm, have to think about it maybe. lol
Oh,almost forgot, nuthin better than a bottle and both barrels. lol
I’d rather have a bottle in front of me than a frontal lobotomy.
Wow, another jaw-dropping comment. We didn’t have to wait long. Nano caps are determined by market cap NOT share price. If a miner has 500 million shares out, a one cent share price gives it a market cap of $50M.
DEFINITION of ‘Nano Cap’
Small public companies with a market capitalization below $50 million.
http://www.investopedia.com/terms/n/nanocap.asp
IPT had a market cap of $8M at its low and still just $23M. When it doubles again, it will STILL be a nano cap.
And yes, Bird’s calls would screw people up because he remains too bearish at most lows and misses all the major lows. If you understood charts and the basics of technical analysis, you would have figured out years ago that he doesn’t know what he’s talking about. It’s embarrassing.
I understand Mathew, just sayin what I consider a nano.
I am familiar with the definition.
If Farmer is bear or bull and when makes no dif, I take notice.
Thanks b. Mathews problem is he cannot call either a timing band or a price level. In all these years he stuck his neck out exactly once and predicted 1550 gold and was proven dead wrong. He does not want to repeat the experience because if he does we might understand he has little ability to forecast let alone make recommendations we can rely upon. Since then he just turtles and stays in his shell and instead randomly insists on a bullish gold stance at all times. He puts up charts and graphs daily and offers mere suggestion. Never really committal, never useful trade ideas….just implications and potentials and maybes and that kind of thing that he later claims were good calls when he quotes himself like a war hero. Few here seem to see though it though. They buy the advertising as if it is all facts. But the truth is he is a cherry picker and a stopped clock. I just pray one day he will have the balls to come on the show so we can see what that guy is really made of. Then we can all decide once and for all.
Silly Bird, you just keep showing that you don’t understand much. Giving an opinion about the price of gold months from now is meaningless. What matters are our responses to the market on an ongoing basis. The market tells ME where the turns are, I do not tell IT. In addition, I sell into strength/buy into weakness and do so with multiple trades precisely because I do not know exactly how and when things will unfold. It’s all about assessing the odds and risk to reward.
Like this:
You can’t really knock the buy and hold crowd that entered gold in January, until the January low is taken out. Not everyone wants to trade the daily or weekly swings; most would fail even if they did want to.
Even if the January low gets taken out, if a buy-and-hold buyer got in at a good price and set a stop-loss properly, he will be in perfectly fine shape to try again at next weekly low.
The truth is there is not one person on this site or anywhere else that can predict exactly what any market is going to do, if they think they can they are the fool!
Yep. Pretending one can predict the future with certainty is not doing anyone a favor.
There’s a big difference between pretending to KNOW the unknowable, and saying ‘this is what I think will happen, for reasons X, Y, & Z’. Even better if they attach a confidence interval to it. Even better yet, if they make it clear ‘but I could be wrong, this is what would make me think I am, and this is what I will do if I am wrong’.
This is obvious for experienced traders/investors, but the self-proclaimed seers can do real damage to greenhorns.
That’s funny Lewis. Are you saying you have zero insight into what your boss, wife, children or parents might do or say at any given moment? Are you saying you don’t dream or gather knowledge that is often known but always unseen? That all the future is a mystery to you? Because if you are unable to predict then in your mind nobody can and therefore that means you have no faith in yourself.
Fascinating.
And one more thing usually the first reaction out of a report like we got this morning is the wrong one
UUP wasn’t even able to fill Wednesday’s gap before stalling and falling today.
Note the “death cross” on the 24th.
Didn’t Gary Savage call an intermediate cycle low for the dollar a few weeks ago?
What I see is a big ugly top in the making. Volume in UUP has been bearish for a year and important weekly moving averages are finally pointing down. The mean reversion is likely already underway.
The strong dollar has really put a world of hurt on the American farmer export wise. I am afraid that if something doesn’t change in the next few months a lot of them will not make it and that is never good for anybody
I hope they can hang on because relief is likely coming soon.
The dollar pattern is for a trending move up. Shorter term it can decline of course but I would not bet my bottom dollar on it falling off a cliff to support either gold prices or farmers.
The daily, weekly and monthly charts say sell but a short term bounce should be coming soon. We have seen lower highs and lower lows for four months now and there’s a long way to go.
This kind of goes for the COMEX…..paper…… 🙂