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dick, speaking of FOOD STAMPS, 46 million Americans have less than $2,000.00 to their name. What hope do they have? If you ever visit a food bank, look around, the people picking up someones unwanted jar of pickled pigs feet look exactly like you and I.
Hi Bobby, I am ever wary of the governments statistics on the number of people on food stamps, you know how they like to make fudge, I’m betting the real number is much higher.
Weve been in a $200 price range in gold between approx $1600 and $1800 since last September. It failed to take out $1800 for the 3rd time. We can go all the way back down to $1600 if we stay in this range. Do I think that is going to happen? Ive seen too many strange things already to rule it out. Meanwhile stocks climb ever higher.
Dick – you are so right!
The key numbers you point out Rog “everyone” who invests based on the chart action are watching aswell which often creates the trend action / reaction….Gold closes above $1800 and Silver $35.00 its going to create one heck of a short covering and also those who take long positions based on breakouts at key resistance levels.
The trading action these past two days in the HUI imo is very positive….like to see the pm’s stocks leading the way again!
CHEER$!
One of the obvious symbols of a society in decline is the emergence of a neo-conservative outlook, if you study germany in the early 30’s you will see the similarities, the most pronounced one is the state shaping the lives of it’s inhabitants.
Freedom is secondary to safety.
Morning Machine Gun,
I would strongly suggest that you read a book call In the Garden of Beasts.
It is about the experience of Ambassador Dodd and his family during the 1930’s in Germany.
It is truly an eye-opener.
Best,
Big Al
In the case of a looming or factual Romney victory, I wonder what the Bernank and the PPT intend to do: Either let it all crash and blame it on “markets fearing Romney uncertainty and social tensions” – or continue as before, and leave the crash experience for Romney’s new team to handle.
Side issue… Rog, please, please give the address of your photographer to Big Al. It seems as if Al is really struggling with finding a decent one.
Not really, I just like change!
Thanks impeachemall!
Big Al
Over 2,600 billionaires (and 60,000 deca-millionaires) with more than 90 trillion to invest are starting to buy into the 1 trillion or so available stock of Gold (and less than 1 billion available in Silver)
I thought this looked good, story about Slim buying Aurico (sp).
Makes me think we are on the right track.
Oh year benb,
I definitely believe that we are on the right track!
Big Al
Do you know what will bring a lot of credibility to the silver market is when one of the major countries decides to return to the gold standard. Believe it or not it will happen.
Of course it will eventually happen, Machine Gun!
Big Al
My guess is it will happen with gold backed bonds. It is also starting to sound like gold will become a teir 1 asset. As Rickards explains, there are many gold standards, lets hope they get it right.
Rog your “possible” $1650 gold and a decent purge in general US equities will need the US$ index to break above key resistance at 80.00 it looks to be continuing its downtrend since making a high late July at 84.10 touching the trendline again today 80 while Gold has risen $300 Silver $7 the HUI 145pts and S&P 75pts…your going to need a decent uptick in the US$ to reach your numbers…..time will tell???
The move for gold continues to be sideways to down. Next week will be the week that tells us if we’ve seen the bottom or whether we’ll continue to trade sideways to down for another 2-4 weeks. Right now the charts favor the 2-4 week scenario. The conventional markets will do better then the gold market during this time. If gold moves up the conventional markets comparatively will move up much higher; if gold moves down the conventional markets will not move as much down on a compartative basis.
Doc, I really believe that if Romney wins the debate tonight we will see a spike in the POG tomorrow caused by Bernanke trying to save his failed experiment; this guy really believes that he is right and he wants to maintain the status quo, there is almost no time left for him to prove his failed ideology. DT
Great job on yesterday’s Daily Editorial, Doc!
Looking forward to next week,
Big Al
The MSM have probably already decided that Obama will win the debate tonight and try to spin it that way. It in all likelihood will be a non-event with no clear winner. If Romney holds his own in this debate and next (which I think he will), he will probably win the election and by more then people think. The only way Obama can save himself is by being presidential and going to war. I don’t think even he would pull that stunt. You’re right about the Bernank; he knows his days are numbered. By the way, DT, for us challenged by acronyms, what does POG stand for?—-Price of Gold?
Correct, PriceOfGold. Unlike the PIG which is the paper dollar.
Doc and anyone else interested, what do you think of this? The wj certainly isn’t pro-0bama, but still this seems like a fascinating plot –
http://www.westernjournalism.com/october-surprise-gone-horribly-wrong/
Thanks for the link, impeachemall!
Big Al
Yeah POG is like WAC for Women’s Army Corp, but I’m sure you already knew that you sly DOG?
In a serious issues forum such as this I certainly wish to stay within decorum.
So I type the remainder of this message with all due seriousness.
In my due diligence for preparing for tonight’s Presidential debate, I believe I may have discovered some intrigue. Stumbling on a photograph of tonight’s moderator coincidentally while seeing CNN hit delivered by Dick Morris I discovered what best can be described as probable cause.
It is my hypothesis the either Candy Crowley is Dick Morris in drag or vice versa.
Any help with getting to the bottom of this intrigue would be greatly appreciated.
Yeah Dennis, I always thought Ken was Barbie in drag.
You are one smart dude, Dennis M!
Big Al
Dollar is hanging by a thread at 79.20 and about to fall hard hopefully. GDXJ and GDX generated a buy signal confirmation today. Euro is hitting 1.31. Looks for gold and silver so far. Hoping the bottom is in.
Since the US$ Index broke below 80 Sept 11th it tried 12 times since to close above 80…the FX boy’s have got $’s to go @ 80…what will be interesting is when 78.60 is tested as it was the Sept 14th low and the exact low May 2nd…will 78.60 prove to be support again??? Who’s gonna blink first US$ Index at 80 or Gold at $1800 Silver $35…..gentlemen place your bets!!
I certainly do also, Paul L,
I am not really totally confident that is the case quite yet.
Too much uncertainty going on,
Big Al
It has broken 79 and it looks like it could be drawn toward 75 which was where it was a year ago. It was only a dead cat bounce to 84. Longer term it should head to 72.
It really looks like the Toronto condo market has burst, established realtors are reporting that record numbers are trying to default on their signed agreements before they take possession, there are no more bidding wars or BULLY BIDS in the marketplace. Houses are seeing a dramatic slowdown as well.
If anyone is interested I wouldn’t touch this market for 5 to 7 years until a bottom has been established and what a crash this could be with all the huge supply. DT
People love to speculate in real estate without the mind of an investor it will get really ugly for them. That is the nature of the beast the higher it goes the harder the fall.
DT there is an excellent article regarding the Boomer effect on CDN real estate today:
http://whispersfromtheedgeoftherainforest.blogspot.ca/2012/10/one-simple-message-right-now-pull.html
CHEER$!
Interesting article. Many Vancouverites have fallen under the same spell as the English, Australians, and of course, Americans…”our market is different”. Baby boomer demographics are simply unavoidable…they made up a large chunk of the big money from buyers juicing the market over the last 20 years. Hong Kong investors made up a bigger chunk, over the last 30. Take away buyers, markets go soft. If currencies devalue, or interest rates go up markets tank. If owners need to raise cash, ditto.
Now that the Chinese are buying less Australian coal, I fear our friends there will see a similar reckoning.
We haven’t even seen double-digit interest rates yet (without QE, we’d be there). When QE has to stop, we’ll go there, and will be a few trillion more in debt.
Of course John W,
That few trillion surely will be paid back! Won’t it?
Big Al
DT, great point. I have waay too many Canadian friends here that speculate with very little down… I ask them what their risk tolerance is in their own minds and they see themselves as medium to very conservative investors. Something’s out of whack. So let me get this straight…. they are willing to leverage 90-95% of an investment as a “conservative” investor? It’s good as long as you buy at a fairly valued price, keep a renter in there…. oh yeah, annnd hope the market doesn’t tank.
Hi Brad H,
I am not sure that currently the real estate market is for the faint of heart!
By the way, I believe that I knew your father fairly well. (Errol) Am I correct?
Big Al
A few points for your show:1] Politicians: Please don’t take any money from the bugedt for ‘EDUCATION’ and put towards anything else like was done sometime ago – use every cent for helping our youth!!2] Police: Use money wisely to combat crime – check out teenagers on the street after hours and go to their parents and warn them that they will be prosecuted if their children are not controlled. Use the K9 unit to search out drugs and guns that are hidden on our islands! Since Police say they know who the gang members are why are they not dismantled?? Cayman is too small for all these crimes.
election mayhem and fixing will now mess markets in any direction until Nov 7- traderrog
Hey thanks for taking the time Roger….can you say cross-currents lol…Nov6-7 could be the knee-jerk reaction of 2012 its going to be interesting.
Notice the Euro$ is looking at tagging its previous Sept high @ 131.72 which should tie in with the US$ Index tagging 78.60 again…if we are to get general equity sell off and lower gold thats where a reversal in currency action could cause the effect you warn of Roger…..
Have a good day all!
World Gold Council in partnership with India Post and Reliance Money Infrastructure offers 7% discount on gold coins
@ kwn they are saying the gold market is tight etc.
My question, “if gold is so in demand, why is it being offered at discount prices just prior to a huge buying season?”
hi, Paul, there does seem to be alot of higher prices forcast, but why offer at a discount? Wouldnt those offering at a discount know those forcasts and think maybe 30% is pretty good?Especially in India where the gov is trying so desperatly to get people out of gold and into banks To me, somthing doesnt make sense, and still, nobody mentions the added supply of 300 million oz of silver expected or oil available in Yuan. Totally strange.
THIS IS FROM FLORIDA DIVISION OF ELECTIONS.
If the information on the application is not true, the applicant can be convicted of a felony of the third degree and fined up to $5,000 and/or imprisoned for up to 5 years.
This is on the registration form,it is also tagged onto a change of address form.
I am told there are 17 other states with similar laws,they are considered “swing states”.
OK Guys, you still believe the states is not facist?
Gonna make a differance who you vote for?
You even wanna take the chance and vote?
Its only 5 years, you get to earn 23 cents an hour, full time employment, of course no one will know where you went, if they decide to use the n.d.a.a.
Eyes still wide shut?
No benb,
My eyes are definitely not “still wide shut!”
Big Al
Thinking about it, I now agree with D Casey and G Celente, voting is not worth the risk. With these laws a person is nuts to vote.
I was at an Int’l Trade association conference on Monday. A highly respected economist from a big bank detailed how the US economy is on the verg of a very bullish economic growth trend. The main premises were that the US dollar was to significantly strengthen and the housing industry would about face and lead consumers to spend on housing related products and that would create job growth and improve consumer sentiment. Not that I’m a negative person, but with the banks shadow inventory of houses and 30 other things, this seems illogical, no? He did this after explaining the sober facts on the current economy, which I agreed with.
HI Brad,
I love hearing the ‘other view’…even if it is stupid! Seriously, the bit about the “US dollar was to significantly strengthen”….I’d see that as a negative for exports (of gasoline, raw materials), the only thing doing really well. To gain back buying power, the dollar would have to rise awfully far to buoy the economy. It may rise vs the Euro, but it’s really it’s value vs Asian currencies that matters if it comes to consumption.
Still, I appreciate you passing that along. Get the guy’s name next time.
I love your new ‘look’!! Very nice layout. Hope that you have a great wenkeed!! Halloween is fun to decorate for, but we live in a more rural area and haven’t had a single trick or treater in about 7 years. :/ All that poor candy left over every year…can’t let THAT go to waste. 😉
Hi John,
The economist’s name was Peter Hall and now that i think about it, he was with the EDC (Export Development Canada – which is gov’t), not big, nor is it technically a US or Canadian bank. His point was well articulated. http://www.edc.ca/EN/Knowledge-Centre/Subscriptions/Weekly-Commentary/Pages/hall.aspx
Canada’s minister of int’l trade spoke at the luncheon about the numerous trade agreements our conservative gov’t has in the works. Canada is a nation reliant on trade. EU, TPP and India are three big one’s coming down the pipe… And all I can think about is protectionism coming down the pipe….
Some of the “Big Boys” are seeing a market crash like 1929, I can’t say I disagree with that statement there are a lot of parallels. When the food stamp producers refuse this program, there will be violence because we don’t live in a society that obeys laws like the 1930’s and then we will see the soup lines.