This train hasn’t stopped just yet, say Big Al and Trader Rog
Al and Roger discuss the recent decline in precious metals and commodities prices and give their points for why they believe we are still in a bull market.
Ron Paul says sell U.S. gold and legalize heroin. I say Big Al should throw his hat in the ring with Trader Rog as V. P.
Ron Paul says sell U.S. gold??? If so, I’d like to know the context in which this was said.
Regarding legalizing heroin, he is right. It was legal 100 years ago and should remain so today. Freedom comes with responsibility. If someone wants to harm themselves or their property that’s their business. There is no crime unless another’s property or person is harmed. The cartel’s profitability would collapse overnight if all drugs were legalized. Further, the “war on drugs” has been an epic and tragic failure. Not since Stalin has a country seen such a high percentage of it’s population behind bars.
The hallmark of any police state is a prison system overflowing with perpetrators of victimless crimes.
HI TOMMY JOHN . Nobody would vote for them,,,, Because they speak the truth.
Tommy John, You made a false statement. Ron Paul wants to re-monetize / legalize constitutional money, gold and silver. Drug laws are up to the states… You should be ashamed of yourself… Please apologize.
I apologize for nothing. Please read what Dr. Paul has to say on the Drudge report.
Ralph Acampora came out all bullish on stoxs and pms last weekend. Last time he was this snarllng bullish was June 2007.
I told you when the colleges/central banks are buying up PMs – the party is over.
I heard Ralph Acampora on Jim Puplava’s financialsense.com saying that too. I wasn’t that convinced by his bullish argument. He seems to think that IBM and many Dow stocks have broken out to new all time highs (the ones that didn’t in 2007 even though the Dow 30 index did). I can’t reconcile the two unless it was bank stocks and construction/property bubble stocks that took it to the new high in 2007. It seems this time that J&J, IBM, KO, McD and other ‘defensive’ stocks have broken out to new highs rather than financial bubble stocks. I think that was his point, though he didn’t really say that. I guess these companies are big exporters too so that might have something to do with it.
ANYWAY,
1. Not many central banks are buying PMs; western ones cetainly aren’t. They haven’t bought back the gold they sold before 2002.
2. In an interview ages ago on KWN, someone quite astute said that the private foundations and college endowments might nbe the FIRST institutional investors to buy gold because some of them were more forward thinking than the mainstram (than a lot of the pension funds, I guess). This was long before this recent Univ of Texas gold purchase news. If that guy was right then it is just the start not the end of institutional buying. So the jury is out. Has your pension fund got gold? Has anybody’s?
I don’t believe the jury is out. A massive global rebalancing is underway. The debt based economies of the West have to be repriced. The process is well underway and being hidden by accelerating funny-money creation. Solvency must be restored for the dollar to stabilize. The quickest way is to devalue the currency in order to reprice GDP against liabilities which are fixed nominally.
The West has been, and continues to be looted in order to “harmonize” the living standards of the world. The masses are financing their own destruction, and for the most part, liking it.
Next, we will see the third-world consumer loaded up with debt. All of this is necessary if the elite want a global government.
In an economic expansion, all assets outperform money. In a contraction, no asset outperforms money. Money, of course, is gold.
The next three to five years will likely be a “smoke and mirrors” expansion of the “crack-up boom” kind. It won’t be driven by demand for goods and services, it will be driven by the increasing unwillingness to hold dollars. Repudiation = hot potato.
The period afterward is likely to be the one that favors gold the most.
Relative to money supply growth, gold is as cheap now as it was ten years ago.
It’s still a “no-brainer”.
Hey guys, PMs are just a trading instrument. Just look at the charts and trade according. Don’t get married to anything. You guys are sounding like the housing bugs right before the top. Coming up with any reason why your trade is going against you is not productive. I been short gold since $1520. Look at the chart it is a giant head and shoulders. We are coming down the right shoulder now.
Good luck.
Wow! You’re up 2% on that short. If you’re net short, that’s one thing (nuts), if you’re short paper gold for insurance or a flip that’s another. Offsetting a larger physical long position with a small, highly leveraged short can be very desirable at times. Now is not one of those times. Way too much risk. Scaling in from $1640 to $1710, if it happens soon, might work. I’m not saying that you’re bet won’t work. Risk and reward are just too balanced here to get me onboard.
The miners lagging. They are confirming a lower gold price. My miner shorts are down between 6 and 10% while GLL (Ultra Gold Short), which is my vehicle for shorting gold is only down 2.6%.
Gold will follow the miners.
I think you meant to say your positions are up, not down, since you must be winning in this environment. You could buy calls on GLL to accomplish the same potential while risking less money.
Most of the time it is the miners that follow gold. A falling gold price affects profitability and is therefore reflected in the share price, albeit usually to an irrational degree.
“Selling” the gold for Federal Reserve Notes, would re-privatize / monetize by putting back to the people and break the Federal oligarchy that confiscated it in 1933. We don’t need big momma gov’t to tell what to do… The states would become sovereign again, not territorial for the (Art. 1 Section. 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.) Federal gov’t.
Prohibition of Alcohol was done constitutionally, through the amendment process. Drug regulation should be done through the states without it. If it were re-legalized it, the narco-states south of the border would disappear, just like old Chicago… It we could tax the poison; empty the prisons; just as we do with other drugs, such as alcohol, tobacco, etc…
Ron Paul has guts and integrity. Check his track record and he would help save our republic. He is the most important candidate for president since Andrew Jackson.
Tommy John, are you a dupe for the establishment? Life, Liberty and hapiness my friend…
I would swop FRNs for gold. Wouldn’t you? :^)
Fed minutes state they are worried about inflation and the PMs head down right on the release.
Hmmm?
All the unsubstantiated ripping and tearing asside;
If I may please;
Ron Paul is the only presidential candidate who would cut enough spending to avert a debt crisis. Only he will restore constitutionally sound money. And, only he will strengthen our national defense by bringing our troops home and putting an end to the nation-building that is draining our country.
Watch Dr Paul question Ben Bernanke if you doubt Paul understands even subtle aspects of the economy. Imagine Palin or Romney doing that?
Other candidates speak flowery words and tell nothing of how anything will get done. Mr. Paul is very different.
Constitutionally, legislatively, and morally, Ron Paul has no equal. His 22 year voting record speaks for itself.
Please help give America back Her Constitution.
Ron Paul for President in 2012.
Thank You
Please please please research and read to find out more.
You are so right. How anyone can lump Ron Paul with the establishment “republicans” is beyond me.
George Washington you are spot on!
Somehow the New York Sun confused Ron Paul with someone named Ron Utt, or the Sun misrepresented a statement Paul made.
http://www.newsmax.com/US/gold-Heritage-fortknox-debt/2011/05/16/id/396540
HI AL .This train IS NOT STOPPING, until it get to the station, and from ware i am sitting on it that station is along way down the line, yes we will have a bumpy ride as it crosses the points. REGARDS