Fundamentals and technicals are strong for gold and silver.
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HI John D.
I have often said the same regarding learning from the Roman Empire.
Unfortunately, I don’t see that happening. Do you?
Big Al
John and AL, I agree with yoou..
Out of the box
Jerry
HELLO JOHN D. The problem is most people are blind to history.
Well, from the fundamentals view, if China is slowing down and given all the news ya’ll reviewed, I would guess that there may be a brief plummet of commodity prices and mining equities along with all the other markets (as Europe and the Middle East plummet into chaos). Then as reality sinks in the flight to gold and silver will take place while the stocks wander around.
ON THE OTHER HAND, who am I to dispute the sage predictions of the Master Technician for upward movement the next few weeks.
You know Tex,
I don’t think anyone knows for sure what will happen. These are truly amazing times, aren’t they?
I believe that if you consider both technicals and fundamentals you do stand a better chance financially.
Funny story, I was talking with our CPA this morning and he admitted that he has never seen anything like this and wouldn’t even hazard a guess as to future events.
Kind of interesting huh?
Big Al
Hey Al,
I picked up formation metals FCO.TO on Monday for .44 and it closed today at .62. It’s still way undervalued at this price. Thanks for the heads up on this one.
You, my friend, are welcome.
Big Al
I’m no expert but having taught this period of history at the university here are some similarities:
Rome made it desirable and profitable for others to become Roman citizens making them easier to “influence”; Rome’s extended borders (world police?) was, in time, too much for them to handle. But, they needed to keep the Army happy. The answer to solving their problems was…TAX. Which led Roman citizens to avoid being taxed and therein began the downfall. And I could go into who they began choosing to lead them to get them out of the mess they created, but, that’s a topic for another time. Will we learn from history? The Nov. 2012 elections will be very telling.
John D.
HI John D,
The upcoming elections will be very telling.
I do have a couple of questions.
Please first explain the concept of raising taxes as in the case of Rome and how the citizens avoided that tax.
I assume that you mean the downfall was caused, in part, by simply not having enough money to keep its borders in tact.
I am definitely not a historian, but I do realize the similarities (at least some of them) between America and Rome.
Please explain when you have a moment,
Big Al
Sorry for the delay in responding. I was in NYC for a long weekend and had a chance to chat with the Occupy Wall Street group. To get to your question: As the Roman Empire became overextended, it relied more and more upon the military to protect itself against the invading barbarian hoards. To preserve the empire, the military needed to grow which, of course, became expensive to fund. So, Roman citizens were taxed more and more. Since the affluent tended to live in cities, the cities were taxed nearly to death. There was only one answer – leave the cities and avoid the tax . The countryside became a very desirable place to live. Usually one looked to a landowner who would provide you with some level of protection. In time, this spawned a feudal system that spread throughout Europe. It’s how many people survived. It appears that one can tax people just so much. Interesting parallels to today.
All the best,
John D.
I’m the one that was questioning the 60% I have invested in PM’s. Today because of my view of the fundamentals, charts and news stories, I signed a reverse mortgage LOC and used it all to buy silver. OK, I know it’s a dangerous move and not sound thinking investment wise but I firmly believe that it will profit in the future. Maybe not in the next week, month or year but eventually given the outlook, it will pay off. With the reverse mortgage there are no payments and no deadlines (only death) to repay the LOC. Just wanted to share this, not saying it’s the right thing to do as everyone must decide for themselves how to invest, but simply to indicate a confidence in the fact that the fiat currency is in big trouble and the best way to survive is with gold and silver. Enjoy the forum and the insight offered here. It’s the best.
Wow Mr. Mabie,
That is really putting your money where your mouth is.
I hope it works out for you and I hope you get out at the opportune time.
Yes you are correct, “it’s a dangerous move!”
I don’t know a lot about reverse mortgages, but if in fact you have no payments and the pay-off occurs only when you die at least that mitigates some of your risk.
Best,
Big Al
Despite all of the silver and gold websites, and the ads to buy gold and silver, I believe that few people have any gold or silver coins in their possession.
In all due respect, the traffic seen to the Korelin website and silver news and discussion sites are not very very high and some of them are really out there frequented by Holocaust denial and nazi sites ( http://www.silvergoldsilver.com, don’t tread on me and to a much lesser extent http://www.silverdoctors.com).
I love this site because Al and Rog respond to people and I learn a lot here. Wish Korelin Report sees more traffic in the future. I think it will
The public is still asleep listening to the mainstream political oriented wasteland.
American talk radio and news shows talk growth to get us out of this never discussing what ” this” is. Most want to keep us stuck on politics ( ie, Romney, Cain, Perry, their foibles politics related issues).
The Chinese are buying silver and gold and the Americans are buying politics
BTW – the Japanes word “yen” comes from “yun”, the Chinese word for silver and “bank” in Chinese and Japanes literally means ” silver house” or ” silver place”. The Japanse word for silver is “gin”; Japanes word for bank is ” ginko” and Chinses bank is ” yinhang”. So silver is an ancient thing in the east for value.
Although I only have 200 1 ounce silver rounds, it is 200 more than 99.99% of the people out there.
I only began stacking this summer. For fun. Maples and buffalo rounds
My investments are about 100% metals. No bond funds no bank stocks just metals related.
I pray a lot and read everything. If I am being scammed please tell me because I do not know where to put money in other than metal related investments ( mainly ETfs).
Mr Turk says silver is on the way to 60 – 75 even in the short term. We would love to see it there but is that not too optimistic?
HI James B,
Thanks for the input.
Our traffic, for what it is worth, has grown tremendously of late. Alexa has us rated at about 94K worldwide which is huge. I have been told that 250K or better is a site of consequence.
I am convinced that one of the reasons for our growth is that we are not selling products, we have a very active and intelligent listenership, and we are honest to a fault.
Lastly, let me assure you that we learn an awful lot from all of you and for that I personally thank you.
Best,
Big Al
HELLO JERRY MABIE For what its worth , i think you did the right thing, for you. YOU made the decisione, to go with your gut feeling, without any prompting from anybody, so if things should go wrong , you only have yourself to blame. I did a similar thing last year, & so far it has worked out very well for me, its important to have faith in oneself. GOOD HEALTH TO YOU.
Mr. Irish,
Thanks much for again bringing up the important concept of PERSONAL RESPONSIBILITY!
Big Al
Hi Jerry Mabie,
Normally, I would say that what you did was probably not the most prudent use of borrowing, but actually you are not borrowing, unless its from yourself. You’re simply taking out the equity in your home, which is now the bank’s home. Faith, in its basic property, involves acting in accordance with your beliefs. If you truely believe something to be true, you should be willing to hang your “life” on it, and to some degree you have. I applaud your gutsy move.
Mr. C,
I agree with you.
If a person is affecting only himself/herself (does not hurt anyone else), I agree completely with you.
Best,
Big Al
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I am a 60% fundamentals, 40% TA guy. My question is (and maybe shared by others) how can TA be used as effective as in normal times, vs in this environment when we see rumors hourly, reality news hourly, liquidations of leveraged portfolios due to say MFG and a whole litany of surprises. I understand that somehow price and volume etc is supposed to be pricing all that in but some of the occurrences come out of nowhere and can and do last for more than a few hours.
HUI IE when it broke out in September and then got whacked. How can anybody have a longer time horizon more than minutes in this environment?
Hi Hal,
Listen to today’s Daily Editorial where we answer this question.
Thanks for the tip,
Big Al
This is an amazing time of history. Europe, Middle East, North America, each with significant economic and, perhaps soon, social problems. There are a number of parallels to the Roman Empire during its period of decline – let’s pray we don’t see a repeat. We would be wise to learn from that period of western civilization.
Thanks for your insight.
John D.