Again we ask the question, The Greater, why do you buy gold and silver?

Big Al
August 14, 2013

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There are many reasons to buy gold, silver and the related mining stocks.

Bob Moriarty, of 321 gold, responds to a comment from our friend, James the Lesser, who laments the price actions of gold and silver over the past couple of years.

Neither Bob nor I feel it is anywhere near the time to “throw in the towel” and look to other avenues for our investment dollars.

    Aug 14, 2013 14:28 AM

    I have to agree with James. These pull backs are great investment opportunities. Not only do I have insurance against fiat paper, but where can I invest to get a better return than gold and silver. Also, I never have to worry about gold and silver going broke or going to zero because of management. As an investment, these pull back manipulations are getting predicable. You just wait and the market comes to you. I can’t find a better investment. I just keep stacking.

      Aug 14, 2013 14:53 AM

      Could not agree more TJ!

    Aug 14, 2013 14:36 AM

    Dennislaw’s First Law of Economics…….

    Instant gratification equals ignorant ecstasy.

      Aug 14, 2013 14:38 AM

      It is like the requisite sign on the wall of the high school weight room as the football players engage the tasks at hand……it reads “NO PAIN EQUALS NO GAIN!”

      Aug 14, 2013 14:54 AM

      And, ignorant ecstasy is ecstasy based on irrationality!

    Aug 14, 2013 14:47 AM

    I agree 100% with Bob. This deep correction was NECESSARY to set the stage for FAR greater gains to come. It is natural that it occurred even if its depth was the result of manipulation (and it could be that the same depth was going to occur anyway, and the powers that be just accelerated the process).
    Before a tsunami hits, the tide pulls WAY out. That is what we have experienced here.

      Aug 14, 2013 14:56 AM

      And again Matthew, I completely agree with you!

    Aug 14, 2013 14:26 AM

    long term . long term logic model . only when the powers that be lead the market com you all daer we win LONG TERM day will

    Aug 14, 2013 14:02 AM

    Bob is right on everything he said.

    I recommend everyone to read and listen to Rob Kirby with regard to just how much EVERYTHING is controlled and manipulated. This has been going on for long time, the only reason people are complaining recently is because the manipulators have been increasing their control and the reason for this is because from their perspective they have to or else. Just look at whats going on in Japan, Europe, US all nations.

    Big worry is, how bad can things get and how will it play out. I am less concerned about the gold price, price of gold, or value of stocks and currency nearly as much as I am concerned about the future of Life, Liberty and the pursuit of happiness. For younger people which includes anyone in their first 1/2 century of life, I worry the most for because those of us over 60 have lived most our lives and dying is less a worry or should be.

    Trying to make money, get ahead, or profit is something only a fool worries about, which for most people myself included is so easy to become, but actually realizing what is important just happens to be difficult to grasp until it has been lost after the fact.

      Aug 14, 2013 14:51 AM

      Very astute comment, Clay.

      It was all good, but I appreciated particularly your last paragraph.

      Best to you.

    Aug 14, 2013 14:46 AM

    Some very wise words Cory, thank you…that’s why I love this site: People in their twilight years, some a lot younger, less concerned with knowing the price of everything even as they strive to address the things of lasting value!

    Of course we all wish for financial security for our own good and for the good of others. But it was Oscar Wilde, I believe, who said something alone the lines of:

    ‘He who loses his money loses little,
    he who loses his honour loses much, while
    he who loses his heart loses everything’.

      Aug 14, 2013 14:57 AM

      Amen, Reverend!

      Aug 15, 2013 15:08 AM

      Sorry Clay I confused your name with Cory – a compliment of course! A

    Aug 14, 2013 14:52 AM

    Proverbs 14
    4 “A barn with no cattle might be clean,
    but strong bulls are needed for a good harvest”.

    Irwin’s interpretation: To profit with gold, you need to put up with a lot of BS 🙂

      Aug 14, 2013 14:20 PM

      Nice one! You taking on any farmhands, Irwin?!

        Aug 14, 2013 14:39 PM

        hey Andrew!
        To all new farmhands, I point out the proverb carved in wood and hung over the bunk house door;
        -again Proverbs 14
        23 “If you work hard, you will have plenty.
        If you do nothing but talk, you will not have enough.”

          Aug 14, 2013 14:13 PM

          Of course, Irwin!

    Aug 14, 2013 14:52 PM

    Another +$1,500 day for this mediocre investor.

    At this rate I might break even by New Year, and hopefully this auld acquaintance with gold should be forgot!

    Annie Gong

    Aug 14, 2013 14:31 PM

    A quote from Martin Armstrong today,
    “The problem with the Goldbugs is they are just always bullish and by constantly talking the same game no matter what, real unbiased investors get turned-off. This damages the credibility of the metals and makes a lot of people look at them as a joke rather than an asset class. It would be if a stock broker constantly said buy – buy – buy, even when the Dow declines.”

      Aug 14, 2013 14:44 PM

      Excellent quote, Bobby.
      How very true!

      Robert Kiyosaki: I Don’t Trust the Financial System, But I Do Trust Gold!
      (18 minutes)

        Irwin………..great post………..”find a good teacher”…RK……….

          ps………read RKs book ten years ago….followed his ideas…….has worked out ok….
          I like his thoughts now………THE INDUSTRIAL AGE IS HISTORY………INFORMATION AGE IS NOW……

            Aug 14, 2013 14:02 PM

            I see his book “Rich Dad’s Prophecy” is at the library … is next on my reading list.

            He’s one of the few who has the guts to state publicly who stopped Keystone XL and why.

            “Should the pipeline fail, the oil will still be extracted, but it will then be transported by rail, and Mr. Buffett, thanks to the efforts of his friend Mr. Holland, will be uniquely situated to derive a fortune from that business, as well as enhance the value of his holdings in Conoco-Phillips petroleum. Is it possible that Warren Buffett’s assistance to Obama in both policy and public relations lately may be his way of trying to tip the regulatory scales in his favor? After all, nothing says “I love you” to a Democrat better than a public plea for more taxes.”


            Aug 14, 2013 14:27 PM

            Thanks Irwin,

            We will be discussing this and other political issues this weekend.


            Irvin,,, Buffit is bad news, and the problem, everyone thinks he is great,,,,,,He and Gates should be exiled to a small island, and forced to grow coconuts , one at a time,
            and not be allowed any newspapers, telephone,,,,or coke a cola, or ice cream….

            ps…Irvin,,,,you will enjoy reading RK’s book,,,well worth the time..

            Aug 14, 2013 14:50 PM

            I have to agree with you Jerry!

            Feb 01, 2014 01:07 PM

            Thnaks for taking the time to post. It’s lifted the level of debate

      Aug 14, 2013 14:52 PM

      Many stock brokers did, do and will do what Armstrong accuses the Gold Bugs of doing.
      In defense of some of the Goldbugs their main argument is the fraud of the fiat currency fractional reserve system. The Goldbugs main argument only needs to be correct once to make all the difference. And since every fiat system collapses it is simply a question of when not if the Goldbud is correct. I feel sorry for the paper bugs who are always selling paper…paper…paper!!!!!!!!!!!!!!!!!!!!!!

        Aug 14, 2013 14:09 PM

        Excellent post, Dennis. All markets correct, but brainwashed gold bears are particularly vicious when gold corrects. Any market will bring pain to those who buy strength and sell weakness.

          Aug 14, 2013 14:11 PM

          One of the basic fundamentals of the financial world, Matthew!

        Aug 14, 2013 14:09 PM

        And I could not agree more, Dennis M!

      Aug 14, 2013 14:08 PM

      He is wrong. Certainly not all gold bugs! How about the folks on this site?

        Aug 14, 2013 14:20 PM

        Al. most of the pundits have been crying buy for the last 2 years, all the way down, NONE called the top.

          Aug 14, 2013 14:36 PM

          Without looking into your comment really carefully, I have to agree with you.

          You do have to admit; however, that Rick and Doc are definitely not buy, buy, buy guys. Consider what they have been saying recently.

          I, for one, appreciate their comments. They kind of mirror mine but, trust me, I am not nearly as smart as either one of them! (I still may be the prettiest baby in the nursery. Oh wait a minute, I forgot that I am loosing my hair!

    Aug 14, 2013 14:01 PM

    Al, you probably have the best head of hair in the nursery for sure. I would have to look back to see doc and ra’s comments of 6-24 months ago to see what they were saying then.
    I thought Armstrong’ s comment was right on regarding “gold bugs” in general, his timing and calls in the pm market have also been very accurate.

      Aug 15, 2013 15:58 AM

      I was start to follow Martin Armstrong a bit.

      I will do the same re: Rick and Doc.

    Aug 15, 2013 15:16 AM

    Many members of the public asked why gold dropped from $1900 to $1300, but few asked why it increased from $225 to $1300. If more people asked the later question, they would discover the numbing fact that paper money is fundamentally vacant in value. The people who did ask this question, were shocked by the answer they received, and then went out and purchased and held a sufficient amount of gold to push the price to its current level.

      Aug 15, 2013 15:06 AM

      Now that Syd, is a good point!

    Aug 15, 2013 15:42 AM

    I have a strong belief that with gold, I hold my finances in my hand, but with fiat currency someone else holds my finances. I truly like to hold my own finances

      Aug 15, 2013 15:05 AM

      Makes sense to me, Denise!

    Aug 15, 2013 15:52 AM

    Hello Al. First off I’d like to thank you for your educational work. I listen to your show every single day and learn a lot from you and your guests. I’d like to comment on your insight regarding the fact that some other sites have vested interest in selling there story a certain way because they have something to sell. I very much agree with that suggestion however I would have to disagree with you and Bob regarding King World News. Myunderstanding is the KWN only have sponsors such as kereport and have nothing to sell. They along with yourself our some of the best alternative news sources that I have been using for years and they also have tremendous guest such as James Turk, Eric Sprott, John Williams etc. If KWN ever suggested that the kereport would perhaps have vested interest in selling you a specific point of you for there benefit, I would comment to them aswell. Thanks again for everything and keep it up.

      Aug 15, 2013 15:07 AM

      Thanks Ric, I stand corrected.

      I was not trying to be accusatory. I simply have no idea what there business model is.

      Best and please keep your comments coming.

    Aug 17, 2013 17:19 PM

    This is common sense, and in the market place a lot of people have no common sense. It just isn’t common. Folks Panic when it drops and get rich thoughts when it goes up. As Bob said “it’s insurance for the freight train wreck that is a coming.