The impact of the President’s speech on gold
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Hi Fast,
I would say a positive impact for the metals and just what I said on BNN yesterday regarding the markets, it was negative because it was simplistic, full of half truths and had absolutely no substance.
Big Al
FOMC all the way. I don’t see how President Obama’s speech was connected.
Hi Jed,
Here is where I would disagree.
He did not show that he was truly a leader and he did not show any concrete plan.
That had to be a reason and the FOMC was, in my mind, the icing on the cake.
Big Al
Al:
Any concrete plan would involve austerity that the U.S. is too weak to take. In my opinion, we had our last chance in 2006. At least we both agree that precious metals is the best place to protect yourself.
Morning Jed,
Check out today’s Daily Editorial.
Big Al
the above comments are correct. the FOMC remarks moved gold with so much power on a beginner, weaker wave count, the bigger wave three might really be a rocker- we shall see. Traders made some good money on gold today and they are expected to take some profits and probably re-enter – Traderrog
HOW DO YOU EXPECT A PERSON WHO HAS NEVER HAD A JOB, KNOW WHAT A JOB LOOKS LIKE…..(OBAMA HAS NEVER HAD A JOB)
Without respect to any given president, I wouldn’t mind someone whose taken some of their home equity or 401k or personal life savings, started a business, and hired even just 1 person. It’s a lot harder than it sounds! (not this Romney crap of creating 120,000 jobs via high-echelon company restructuring………). Create at least 1 real job, with wages paid. How many in Congress or the Executive branch would meet that test?
I spent 15 years volunteering in the local community…good stuff to do, but mmmmm, nah, it’s no job. You’re not held accountable for volunteer positions in the same way an employee or executive is. And if you’re a “paid community organizer”, you’re a leach, a municipal version of an NGO. I’ve known some paid presidents of a local food bank or mission…that’s different because they’re running a non-profit org. But of course, those paid aren’t considered “community organizers” either, they are employees of a non-profit. Larrry, if there’s a role I’m missing, I apologize, but I don’t see it right now.
HI John W,
As you know I have done a substantial amount of volunteer work in the past and I continue to do it now.
Let me tell you, that is a far cry from creating a job and, at the same time, keeping your clients/customers happy.
You are absolutely correct!
Big Al
Hi John W and Big Al,
Great comments. I agree 100%. I’ve done a fair amount of volunteering myself, through Church, clubs, etc. and I’ve never taken a dollar for that kind of work. The key is the motivation. Community organizing, a euphemism, is done with the goal of inciting, mobilizing, in order to secure a desired objective for the benefit of the group that the individual is working for. It’s very self-centered. Volunteering, on the other hand, is work done for the good of others, with absolutely no gain, profit, or remuneration expected. The motivation is completely opposite. One is giving, the other is taking.
Thanks much,
Morning Mr. C,
My thoughts exactly.
Big Al
That’s a nice summary. Completely agree too.
Mr. In the Box,
You are 1000% correct.
Big Al
Jerry, are you saying that a person who is noted for being a community organizer is not someone who could be considered as having a legitimate job? Wow! how
turthful is that. He seeks justice for the average man. That should be considered admirable. Don”t you think.
Yes, “He seeks justice for the average man.” And of course you know you’re the “average” man if you work at Goldman Sachs.
Hi Larrry, (sic)
I have to agree with Jerry O^OTB,
Is being a “community organizer” a legitimate job? Community Organizer: one who whips up the populace into a frenzy of emotion, ie. riots, sit-downs, strikes, marches, etc. in order to force local officials to rule in their favor or on their behalf. Hummmm, let’s see, that would be Jesse Jackson, Al Sharpton, etc… It may be a job, ie, you’re doings “something”, but is it legitimate?
Legitimate: according to law; lawful; in accordance with established rules, principles, or standards; in accordance with the laws of reasoning; logically inferable; logical: a legitimate conclusion. Reasonable people can differ, i grant you, so you decide for yourself if a comm/org is a ‘legitimate’ job.
“He seeks justice for the average man”, now I say Wow! Do you really believe that? That his motives were purely altruistic? I think he is the classic narcisist/anti-social. After the last 3 years of destroying this country and our freedoms, how can you seriously stand up and justify the man? Take off the rose-colored glasses and take a fresh look at O. Pardon the rant, but good grief, we don’t have time for this. We’re headed over the cliff and you’re still mesmerized by this guy.
Hello Larrry with three “r”s….
The answer to your questions is…..there is nothing “legitimate”about mr.O
I consider him a Kenyon, without a birth certicate, or ssi no.
Mr. In the Box,
Do you know any of the details of the subpoena served the President in the Georgia court?
I just heard about that very recently and am curious as to the credibility.
Big Al
Al, the only thing I know , is that which you have mentioned…
that the court has requested information concerning the
birth certificate, and the authentisity of the document.
I do think this is going to be a question, but, with all
that is going on , in every area of politics foreign and domestic, this may not
get much attention . and if it does , the general public is so far
behind in the learning process, so much
to be concerned with, that this may get pushed under the rug
by the political influence .
There are just to many people , in the current administration , and supreme court,
that do not want this to come to light. It would signify that they did not do their
homework, pertaining to this canidate for the highest office in the world., or maybe
they did, and are just futher trying to break down the constitution, into a worthless
document. Maybe, the arabs, or chinese, have someone in mind that they would
like to put in office….you know they have a lot of money to grease the wheels
of the machine.
Morning Mr. In the Box,
You are probably correct, but I find it hard to believe that number one a subpoena of this nature can be ignored and number two that it is not even on Drudge.
Doesn’t make a lot of sense to me.
Big Al
HI Larry,
I reiterate, that volunteering (my experience) is definitely admirable, but it is a far cry from not being able to eat if you do not perform.
Best,
Big Al
Bill Gross of PIMCO says on Twitter
“Gross: Fed likely on hold for at least next 3 years. QE 2.5 today, QE 3, 4, 5, … lie ahead. Financial repression”
Thanks Clay,
Interesting!
Big Al
If the Bill Gross comment isnt a POSITIVE “sign post” for PM investing – then I dont know what is!
Marc
There is no reason to hold U.S. dollars.
HI Fred B,
Sure there is, buy gold/silver with them!
Big Al
Amen….Big Al….Amen
BTW, GO AZTECS!
Obama had a job in Hawaii at Baskin Robins. That is how he got his Connecticut social security number. (Lol) Check it out. He served diversified ice cream (chocolate and vanila).
Hello David Bakken,
That’s funny. Got me laughin’. Thanks
US securities litigation firm Holzer Holzer & Fistel announced on Wednesday it is investigating potential violations of federal securities laws by Kinross Gold Corporation (NYSE: KGC), specifically whether Kinross knowingly overstated gold grades at its Tasiast property over the last year.
Thanks Tex,
Big Al
R U….OUT THAR….matthew,,,,,marc….john….(.all we need is luke.)
question..do you think we retest 30 on silver?
Hi Jerry,
I think silver might test the 50 day moving average next week. It is currently under $31 and falling. Alternatively, we could just see a mini consolidation at a higher level, for a day or three, before shooting higher. The move back toward the 50 dma could start from a much higher level.
I think the second scenario is a little more likely given the current macro developments and technical action.
Hey Jerry,
Maybe, but doesnt matter – I dont think….see my comments in the Market trends section, recently. Silver is THE place to be!…You are a funny dude!
All the best,
Marc
I agree with you Marc….I have been “heavy in metals” since 05 and before that
1977 remembering the Hunt Bros. I am long term….and the cycle is right and
see more upside from here, but, we are going to need every dime we can get our
hands on, because hyperinflation is very possible this time around.
The link didn’t work as planned. Just scroll down for the zinc chart. Guess I should have linked to kitco.
I agree with you guys about silver, but don’t you like the silver stocks? I believe that we are now at the beginning of a cycle that will be like the period from late 2000 to late 2003 in which the miners dramatically outperformed the metals. Two of my favorites are Alexco (AXU; AXR.to) and IMPACT Silver (IPT.v). For the coming inflationary environment, I especially like IMPACT. The same zinc and lead credits that used to cause investors to seek a “purer” silver play could soon provide a tailwind. Zinc is an even better predictor of increasing economic activity than copper, and it has come to life lately. http://www.incakolanews.blogspot.com/search?updated-max=2012-01-25T11:14:00-05:00&max-results=8
Owing to it’s unique, vertically integrated model, IMPACT has to be analyzed a bit differently. Management has never been real interested in spending money on 43-101 resource estimates and I strongly believe that the resource estimate from late 2009 does a poor job of reflecting what they have. IMPACT’s growth potential is immense in my very biased, but honest, opinion. I have held IPT through thick and thin, and bought more during the collapse of ’08. I won’t be selling a meaningful amount anytime soon. Same for AXU.
Okay, my little commercial is over. Any thoughts?
Matthew…..I know one thing ,,and that is I don’t know….
I would like to find a couple good silver stocks…and have been
looking for awhile( 2 years to be exact) and do believe the timing is now…and I do think that the stocks will out perform physical, if you have the right ones.
The problem I see is selecting one or several that have management that is geared to the share holders.
I know one thing about silver in the safe, I have control
of it and I like that aspect more than the potential of getting ripped off by
lack of control from someone who may or maynot be an expert in the mining field.
because , I have some experience in the physical and have for a long time.
But, I know the more education, like from this website, the better chance I have in
selecting a winner, when the time comes…and it should be very soon.
And I might add , that knowing people like you, and I know that you know ,
what you are talking about…so , I would trust you, because you are not trying
to sell me anything, and you have proven to know the anwsers, which I believe
to be correct in the past…respectfully…OOTB…
I agree that management must be friendly to shareholders. So I look for companies with a proven management team. No serial diluters are allowed in my core holdings. Of course, out of necessity, pure explorers are given more leeway. Here’s is a decent place to get some numbers: http://finance.yahoo.com/q/ks?s=IPT.V+Key+Statistics
Press releases and investor presentations are good too. [impactsilver (dot) com; alexcoresource (dot) com]
Most importantly, only invest based on your own research. Anyone can be wrong, no matter how credible, honest, or successful.
Sprott likes both companies too. His interest in AXU is more well known, so here’s a write up pertaining to IPT.
http://classicvalueinvestors.com/i/2011/06/impact-silver-growing-company-severely-undervalued/
Thanks….for the info…….checking both out……
“your chances of success are magnified, by the association with those with credibility”….uncle wally 1955
Jerry,
Thanks for all the kind words.
Let me know if you decide to buy either stock, and, for what it’s worth, I’ll let you know if I ever sell any. I’ll give the reason(s) and the percent of the holdings to be sold.
Matthew….thanks…..I was busy, buying platinum on the last drop in Dec.
Now..looking to add to silver….but, looking for a drop, if it is coming.
Sprott thinks silver will be at $150 in 2-3 years, based on 16 to 1 ratio…
He also, thinks $50 this year, which I agree…
thanks for the back up…on other occations…if you get my drift.
Gentlemen,
All of your comment re: metals are great!
Listen to the Kitco Audio today.
Best,
Big Al
Big Rog is right on the money. The move in precious metals was sparked by the FOMC. The State of the Union message had no or slightly negative impact on all markets this morning.