From the Metals and Minerals Investment Conference
Hour 1 :
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Hour 2:
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- Segment 1 – We open the show in New York with Jonathan Moore in New York who discusses the venues of the Metals and Minerals Conference and the educational benefits of attending these events.
- Segment 2 – Maria Palombini from Summit Business Media discusses the efforts put into the furtherance of education by the Metals and Minerals Conferences which are held in the United States.
- Segment 3 – Big Al, Jeff and Cory discuss the nature of this conference as compared to those held in prior years.
- Segment 4 – Jay Taylor, Big Al and Ken Hoffman, Mining Analyst from Bloomberg, discuss the role Bloomberg plays in this industry and the services offered to investors.
Hour 2 :
- Segment 5 – Cory joins Jay, Al and Ken in discussing the investment potential offered by the mining industry.
- Segment 6, 7 and 8- For the remainder of the show, Big Al and Jeff cannot resist the temptation of discussing the political circus currently playing in the town of your choice. You could not make a movie as bizarre as the current events.
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Many thanks for this article, Mike.
It is difficult for me to stay totally abreast of all current conditions so I really appreciate input like yours.
Best,
Big Al
AL,
You’re welcome. Just so you know, my wife and I live in Guangzhou, just a 30 minute train ride from the places mentioned in the article. If you would like more regular updates on the China situation, economically speaking, let me know and I’ll be happy to keep you and your readers updated.
Have a great weekend!
Mike. Absolutely. And thanks.
I certainly would appreciate that Mike.
Thank you,
Big Al
Hi Al if you think the US housing bubble in 08 was big, I would suggest you google the 60 min special Ghost Cities in China. After I watched that I thought about another financial crisis much bigger than the Lehman trigger of 08.When the property market in China explodes it will rock markets all around the world.
James
AAl,
This weekend`s show was aas boring as this week`s stock market. No real substance at all. Dennis
The way I see it. The only way we are going to get to the Banksters & their policies toward us here in America is to break the monopoly they have with their chief, who happens to be the President, he`s the weak link in the jewelry cast, he`s no diamond, he`s paste. So we need him out, but that`s looking pretty good so far he`s a pretty decent job all by himself in doing what he does best – talking, its his big mouth that will be he`s undoing in the end. He`s a bad liar, his body language isn`t cutting it. Just like Nixon`s squinting eye`s twiching back & forward, from side to side motion, trapped like a rat look on his face. Whereas Obama is talking about something else while saying nothing at all about the main question, and he`s looking around at the ceiling, the floor – there`s no direct contact with his eye`s. It`s as if he`s looking for an exit, & hoping one of his aid`s with come in to get him for something important, just to change the subject – anything but the truth. If we can get the Banksters bag man, perhaps we can see an end in at least for a time on the fall of our dearest metals gold/silver. But on that question doesn`t Palladium look good or what. Hey isn`t that Johnson-Matthew Inc. foremost metal that hasn`t had a hit on it, as far as those ETF`s, well no wonder its under the near total control of the Banksters right now, whereas Gold/Silver mining isn`t, and the South African mining sector has been extremely hit hard by labor groups in the country. These black S. African miners that are working in these mines for generations know full well of oppression at they white masters, the dutch, english, so the Rothschilds front company – Johnson-Matthew is having a time trying to control these miners. So its only natural that Johnson-Matthew is looking at another field for exploitation ie. Canada & the United States to seize at all cost, by rook or crook as in a chess game. So impeachment is looking so good just about, hopefully real soon.
Here’s how gold is manipulated on a global scale. It explains how the 24hr cycle works: usually falling in London and the NYMEX and then rising in the East.
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/5/15_William_Kaye__Part_II.html
Thanks BJ
Big Al
Dennis, do you seriously think the president has any power at all? The banks had “W” by the cahonies as well, along with Big oil. It makes NO difference who has the title.
Bobby,
My opinion is that although I kind of agree with you, I do think that the current president ‘s level of competence is lower than that of most prior people holding the office.
Big Al
We will try harder, Dennis.
It was as a tiring week with all the travel.
Have a good rest of the weekend,
Big Al
Al,
I hope the New York Times newspaper was dropped on the rug in front of your hotel room door so that you did not actually buy a copy of the rag. It would be tolerable if it was forced upon you as part of gratuity to your accommodations. To visualize you in an independent transaction handing a newsstand operator cash would be disheartening. It is one thing to seek all sides of issues….. it is quite another to pay directly to discover it. I suppose either way “The Grey Old Lady” made it your hands the Paul Krugman-esque ideas benefitted. However, the bellhop dropping the paper at your room door in the wee hours would find you personally less culpable.
What I have found interesting about “The Grey Old Lady” is its moniker “All the News that is fit to print.” When you study all the printed collectivist “Rosie scenario” fluff pieces over the years you find the NYT served as a Potemkin façade to the Utopian minded contrivers. It was not historic news reported but misplaced attributes and projections of societal advancement the only cost of which was a declared by the tabloid to be a “in the scheme of things” tolerable up front cover charge of liberty. The paper did not in this sense report the way it was they projected hope about the way it could be…… only if? They were a seductive fishing lure attracting prey to a hook.
On top of assigning attributes undeserved to the devious they failed to print about the atrocious means the progressive collectivists used in the course of not obtaining Utopia. How a news agency as large as theirs could have missed the atrocities in Russia, Germany and China would bewilder you if you did not understand the cleverness of the paper’s moniker. The “fit” in “All the news that is fit to print” is a subtle admission by the paper of their editorial bias. Having all those atrocities known to them but having placed them on the cutting room floor was complicity to the horrible. Under Marxism a lie in support of the revolution is a revolutionary truth. To get to the collectivist “Utopian end” the end had to be glorified while contemporaneously the viciousness of the means ignored. So under objective analysis we find over the decades that The New York Times has not printed all the news that is fit to print. Unless the word ‘fit’ is and admission of their editorial adoption of the Marxist idea of “revolutionary truth”. In this case they can write anything and call it news.
This was not the first time I ranted about the NYT’s moniker:
On January 12, 2013 at 1:36 pm,
Dennis M. O’Neil says:
I loved Al’s laugh as Jeff Deist brought up Paul Krugman.
Would it not be funny if Paul Krugman was axed by NYT in its latest purge of
it’s uneconomic staff.
http://www.politico.com/story/2013/01/media-rattled-by-possible-nyt-layoffs-86083.html
Maybe if the “Grey old lady” circulated journalism as opposed to propaganda they might be able to pay their employees.
Political leaflets are properly handed out for free.
The NY Times has for too long survived charging readers for what the reader should charge the paper for being forced to read.
The NYT moniker “All the news that’s fit to print” is telling of where the paper finds itself today. Being forced to lay off those who will not retire. The phrase ‘fit to print’ admits an editorial decision that too often ignored the fallacy of collectivism. Apparently they also printed all the news that was unfit to sell enough of in order to sustain their current staff.
Maybe they should go back to the cutting room floor and publish the stories of Stalin’s purges and other communist debacles they spiked. Too late for that! Maybe they layoff Paul Krugman before the Nobel Laureate decides to retire. I would love to hear Al laugh as he hears about that news! That news would certainly be fit to print.
Actually this orb does have a big shot at the true rown
That should be triple crown, boy I need to turn off auto correct!
Or type slower
Hi Denis M,
Believe me please. I did purchase it (voluntarily) because I really wanted to see just what it’s covering of the circus was like.
I was not disappointed! It was bull you know what!
Big Al
I am sure you realize Al that I was just sounding off on the NYT and your mention was merely my inspiration.
The horse is not worth betting on.
Morning odds had it paying maybe 10 cents on a $2 bet. It would be silly to put money on the nose….bet it to show if at all because it will pay 10 cents across the board.
I would have gone back to Goldencents if it was not for the rain expected in Baltimore.
If track conditions hold up and the course skirts a few showers I may go back to Goldencents at 8 to 1 or higher. Sometimes you will find Southern California girls and horses do not travel well but “I’ll Have Another”.
[…] Listen to the show HERE! […]
WOW, Jay Taylor agrees with me. Gold could go to about $1000.
I always did like that guy. lol
I prefer Trader Rog, fantasist or otherwise!
I herd a comment that we need liberty to diversify, I would agree.
The thing is the american people chose not for liberty, the american people seem to prefer facism.
Sure.. the election could have been rigged or the “hero” Romney on this site did everything he could to supress Ron Paul. but the fact is, the people allowed it to happen.
Al how stupid does Obama think the american people are?
Well how stupid are are they when they chose facism and a ploice state over liberty?
More examples not required I think.
Lots of them actually believe drones flying over them is a good thing.
Remember tho, its a facist state, he is doing as he is told and without change so will the next presedent.
There are people on the net tho that are trying to stop the money changers, Assange, wikileaks the creaters of digital currency,Paul Craig Roberts, Celente and of course a real hero Ron Paul among others so there is hope yet.
Ben b,
This man truly scares me!
Big Al
.You should be scared of him Al.
Defense Against the Psychopath (Full length Version) 37 mins.. Stefan Verstappen·
Treid to post the link, but this is a u tube, after watching it I can identify 1 or 2 that I have met.
Explains alot.
To say that the LIE about weapons of mass destruction was a small mistake
shows your belief that there is a difference between the two parties. No
president back to and including Lincoln, has been worthy of respect from
people of this country. The two party system has destroyed this country.
Ditto our two parties here in the UK Bob. That’s why so many pin their hopes of Mr Farage even if he does turn out to be as flaky as the rest.
Hi Bob,
Look for an upcoming Daily Eitorial on this issue.
By the way, I do appreciate your comment.
Big Al
The US dollar appears to have started a long term rally and headed towards 90. This will bring gold down much further. Hard assets are turning into sinking assets. Gold will likely rally for about 2 months only – August & September and gold stocks likely will rally a short time and head down again in the fall.
You could be right, Paul.
Comments like yours are what make this forum so valuable to me personally.
Thanks for your participation.
Big Al
If the dollar rises due to a falling yen and/or euro, etc., then gold can also rise. The USDX is currently where it was in January, 2005, yet gold is nowhere near where it was in Jan. 2005 ($450). It therefore cannot be stressed enough that a rising USDX does not necessarily translate to a rise in the purchasing power of the dollar in the real economy. The opposite is also true; a falling USDX does not necessarily mean that the dollar is losing purchasing power in the real economy.
Between Dec. 2004 and Nov. 2005, the USDX went from 80 to 92 while gold managed to go from about $430 to $500 at the same time. When both the dollar and gold rise together, the dollar is actually losing value. When they fall together, the dollar is gaining value.
I believe that the dollar is making an intermediate term top against gold right now. It is very overbought and at horizontal resistance. It is also more than 20% above the 55 week moving average. The last time it got this extended was in August, 2011 when it was over 20% BELOW the 55 wma. For perspective, look at a 5 year weekly chart of the dollar priced in gold ($USD:$GOLD).
Big turns in any market always take time and test nearly everyone’s conviction. It is really quite amusing that those selling gold at this level/technical setup believe that they are selling to dumber money. These are the same people that thought they were buying from dumb money at $1900.
Great! Thanks Matthew! Good hearing from you finally! 🙂
Matthew that was a very instructive post….let the brave and overly ambitious make the last 10% on the trade!
If you are not reading warren’s free weekly letter: http://wizzentrading.com/wp-content/uploads/2013/05/May-18-2013-pdf.pdf you are missing out. Also, for you trader types, his pay service is the best ive seen for the price.
Bobby, I’m going to HAVE to chime in here.
As a past customer of his, THREE DIFFERENT TIMES between the years 2010 and 2012, I’ve watched him blow up that trading account MULTIPLE times and I’m not talking about just increases. I’m talking about taking a $30K account and turning it into $180K in just a couple months – then turn around and lose EVERYTHING and not using stops of any kind. As a novice trader (and many of his subscribers are) you are taught VERY BAD TRADING HABITS, such as “go ALL IN AND LEVERAGE” – Big mistake! Also, that trading service has LOTS OF delays where he doesn’t send out his daily report like he says he does, doesn’t provide a post market recap (maybe now he does) and his trade alerts are delayed so that by the time you try to get into his recommended trade, it’s well on its way. Also, are you AWARE that his little trading service is not his ACTUAL trading account? It’s his “play money” as he likes to brag about quite often. If you follow him on Twitter (like I used to do) you will see that he is often taking different trades than what is offered in his daily letter. And has on occasion taken THE OPPOSITE SIDE of what he recommended in his service. He confuses brains for a bull market because he can’t trade a choppy market to save his life. I should know…I’ve watched him for a total of eleven months during two years of “off and on” service. So, sorry Bobby. There are A LOT BETTER trading services out there that ACTUALLY TEACH you something than what Mr. Warren Bevan offers.
Mark, thanks for your inside comments, I was not aware that he traded without stops. I bought in for 6 weeks, (1month+ 2 free weeks) to see what he was doing. I did not re-new because i do not like futures trading. I have read his free letter for many years and always found it accurate.
Hey Bobby
Yes, Warren posts a free newsletter on Kitco, every now and then, and “yes” his technical work on metals can be good. But I think you need to really see how he trades and his track record to understand my “warning” against his service. He does not trade futures, at least, he hadn’t the last time I had a discussion with him on Twitter. He still uses options but he lost NEARLY EVERY subscriber back in December of 2011 and was actually giving away his service FOR FREE to try and bring customers back in. He lost nearly $186K in just two months, trying to force the market higher because that is how he was “technically reading” the markets. He is a nice guy, but i am not impressed with his risk management skills. Heck, I post FREE TRADES on my blog every weekend. I also give detailed descriptions regarding those stocks and I post a market update as well.
Hi Mark and Bobby,
Many thanks for your dialog. Very valuable.
Big Al
No weapons of mass destruction was an honust mistake? Couldnt disagree more Al.
Accidental murder used to be called 2nd degree I think? On the scale of Iraq it used to be called War Crimes. Lucky for Bush and administration there is no rule of law anymore except their rules. And the banks of couse.
Hundreds of thousands killed and thousands of suicide bombings that continue till today. They never had these bombings during the dictatorship. Some countries need a dictator to keep things civil and for public safety. We can’t apply western rules to 3rd world countries. Iraq was much better off before. Infrastructure was completely destroyed and the country was attacked without provocation and there was no risk to the US. A trillion dollars wasted that could have been used to give tax credits to companies to hire new employees and provide subsidies for students going to college as well as R&D tax credits.
Think of the many families affected by the deaths and injuries of soldiers for a useless war. One of the largest scale war crimes in history. It was all about oil and the cost was not worth it.
Okay, okay and okay!
Big and perhaps short sighted Al
Again Ben b look for an Editorial on this shortly.
Big Al
Good points Paul,
If Saddam Hussein, Qaddafi and Mubarak made a better fist of things, just think what a benign dictator might do.
Put Bush and his lapdog Blair on trial.
I would like to buy this guy a beer:
http://www.youtube.com/watch?v=cvO6Ev-W3r0
You’re right Dennis. Mike Kelly has cojones!
With a shot of WHISKEY..first, then a beer chaser!!
I’ve only just learned about the Gang of 8 in the U.S. senate
Sorry although the first site is fine this was the one I meant.
Just a thought and a movie of the week suggestion……
The thought is:
Wealth without worth is like life without feelings.
The related movie is 2002 flick Equilibrium………
now streaming on Netflix….
http://movies.netflix.com/WiPlayer?movieid=60024935&trkid=7124027
Al, in segment 5 with Jay and Cory you mention an energy services company that
you are personally invested in. Jay mentions the name, can you please provide
the correct spelling and or trading symbol? Please do not provide investment
advice I will exercise DD.
Synodon inc. SYD.V
FWIIW I thought the below exchange from Al’s presentation thread deserved another read. For whatever reason I found the very macro back and forth instructive, to wit:
On May 15, 2013 at 10:37 am,
Dick Tracy says:
I have been very concerned for a long time that what we are seeing is a repeat of The 1930′s where a deflationary depression took place. Even The Florida land boom which went bust in 1925 is mirrored today, coincidence I don’t think so but I am one of the few who sees it this way.
I have said it many times before what does anyone think will happen when interest rates start moving up there goes the stock market and real estate values and with it lots of money will go to money heaven in a huge funeral. The Fed is in a box they can’t get out of, no way Jose”. DT
On May 15, 2013 at 11:12 am,
Dennis M. O’Neil says:
DT – Your comments made me think of a slow leak I had in a tire when in college. After the Fed QE in Perpetuity, The Plunge Protection Crew Tuesday’s Take, The President’s crony slush fund stimulus and after all that inflating the tire still needs air. DT your take could be spot on if the Fed Steps away and we take the pain of repairing the tire proper…..I do not see the Ben Bernank or Yellen taking the heat for what would be way beyond the 30′s scenario. I actually give the Fed some credit for adding just enough but not too much. The variable they cannot completely control is velocity and when V picks up or moves too fast in the other direction The Fed is going to have to pump real hard. Sooner or later….. unless they step way and allow what you aptly suspect….they will destroy the paper currency. We will end up with a similar scenario you predict it will just be worse and further out in time. Suggestions that The Fed can back away and all will be swell is simply set forth to confuse some that they just might. They could back away but they won’t until it is too late. We will no longer have a slow leak….we will have a flat tire and no spare in sight.
DB- out!
On June 16, 2012 at 9:47 am,
Dennis M. O’Neil says:
SLOW LEAK
Have you ever added air to a tire only to notice soon after it looked low again?
In a sound environment you take the car in and fix the leak.
Could be a nail…a bad valve…bad seal…who knows except something is wrong.
This scenario makes me think of our economy.
When is school I did not have the money to properly repair a slow leak that developed. I decided to keep adding air every now and then instead of repairing the tire properly. This allowed more money for beer. It did not correct the inevitable.
Adding air when low perversely gave me the feeling I actually fixed the problem.
All I had done was lie to myself. I avoided a responsibility in favor of instant gratification. Regardless of the Euro problem of the day….on Monday and Tuesday the pundits will be calling for the Federal Reserve to put air in a tire with a slow leak.
We all know what we should do is repair the tire.
Reply to this comment
On May 15, 2013 at 1:06 pm,
Bird Man says:
The only really big hole in your argument Dennis is that Fed withdrawal from its bond buying and printing activities are very much dollar positive. Just have a look at how currency traders this week welcomed the news that the Fed may be about to take its foot off the accelerator. While you are checking the charts take a long look at gold and silver (off big time this week…silver now down almost 4% today alone).
Reply to this comment
On May 15, 2013 at 2:20 pm,
Dennis M. O’Neil says:
Birdman,
The above was not an argument as much it was an illustration.
If it is construed to be an argument I would criticize it as being naïve.
The innocent thinking that The Fed is actually trying to make the economy better (as I duped myself to believe that I was trying to help when adding air to a tire with a slow leak) is fantasy.
The Fed and the cronies of it thrive on the advance knowledge of what it will do next.
Central Banking is a contrived government assisted pump and dump. To think that The Fed is trying to make our economy productive, efficient or growing in a sustainable sense is the equivalent of thinking Social Security is not a Ponzi scheme.
It is common in history that things that are said to be good are in truth are very bad.
The more sophisticated the lie is developed the worse the (inevitable) collapse which will be suffered .
We are living lies on multiple levels.
In the 30’s we learned leverage worked in both directions.
Those with advanced inside knowledge of the direction managed just fine.
Today we are enjoying a derived leverage multiples higher than ever thought possible in the 30’s.
Those that know when the pivot will occur will do just fine.
Those who realize they do not have an eye on the monetary Ouija board are better off living and investing in what is real.
Reply to this comment
Al, I don’t understand why you stopped at Nixon or skipped over Reagan regarding abuses of power. Also surprised that you overlooked the targeting of conservative groups under Clinton, specifically when Janet Reno not only targeted certain groups, but pulled the trigger! Before Nixon was the Kennedy assassination. Under Regan, the Iran Contra stink.
It’s not a left or thing; it’s a money and power thing. Plain and simple, it’s human nature for those with money and power to abuse it. Our founder fathers understood that and tried to limit it with Constitutional separations of power at the federal level and granting the police powers to the states. After 200 years they’ve whittled away enough of our Constitution to make it more of a memory than a foundation of government.
We need to ban private ownership of the automobile:
http://hosted.ap.org/dynamic/stories/U/US_VIRGINIA_PARADE_CRASH?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-05-18-17-43-57
We need to ban commercial air traffic it is too dangerous:
http://www.dailymail.co.uk/news/article-2326538/Terrified-passengers-escape-alive-US-Airways-flight-makes-belly-landing-Newark-airport-landing-gear-failed.html
When will we realize we need to ban commuter trains? The train lovers and train freaks will not be happy until we are all killed:
http://www.youtube.com/watch?v=F8gUMjylixU
Jeeeeze………..go micheal b!
worst show ever I m done
Ben announced QE will go on….and gold falls? Someone help me understand this please. Seriously…I need someone to help!
Here’s an interesting article from The South China Morning Post about debt in China’s provinces and cities.
Dongguan suspends free services as debt crisis bites
Saturday, 18 May, 2013, 5:05am
Charlotte So in Dongguan
charlotte.so@scmp.com
In a telling sign of the mainland’s mounting local government debt crisis, some towns in Dongguan – one of the richest cities – are being forced to suspend free public services and infrastructure projects.
In February, Shipai town terminated the free bus services that it introduced with much fanfare about two years ago. Then in March, the township government said it was reviewing a policy of providing free education to all residents aged below 25 because the government’s coffers had dried up.
The town of Zhangmutou – dubbed little Hong Kong because of its popularity as an investment and holiday destination – has scrapped an ambitious plan to build a 100-million yuan (HK$126.4 million) recreational park, leaving a large chunk of empty land in the town centre.
Many local township authorities in Dongguan are struggling to pay the salaries of their employees.
Their problems underline the magnitude of local government debt issues on the mainland.
Last month, former finance minister Xiang Huaicheng told the Boao Forum in Asia, in Hainan , that local government debt could be as high as 20 trillion yuan, almost doubling the figure given in a 2011 report by the National Audit Office. Also, Fitch Ratings lowered one of its key ratings on China’s government debt in one of the sternest warnings to date over a credit build-up in the world’s second largest economy.
More than 60 per cent of the 32 townships in Dongguan now face serious financial deficits.
Dongguan was once a proud example of China’s economic miracle and a manufacturing centre of hi-tech products. At the height of its success, Dongguan towns were flush with money because of rising land prices and revenue from factories.
Many local authorities, like Shipai, offered free public services for residents. But it was hard hit as demand from the United States and Europe for products plunged. Rising salaries and high land prices also drove many factory owners to move to inland provinces.
Many construction firms in Dongguan are reluctant to take on government contracts for fear that local authorities may default.
Wong Xiaoli of Dongguan Leikun Construction said they would stop work immediately if the government failed to pay them on time.
“We got only 30 per cent of the promised payment after we finished a greenery project for a police station in Shipai,” he said. The company abandoned a landmark project in Zhangmutou because local authorities could not pay them on time.
Lin Jiang, professor of the Department of Public Finance and Taxation at Lingnan College, Sun Yat-sen University in Guangzhou, said the debt problem could not be solved by local governments.
The total debt for Dongguan township authorities is estimated to be between 30 billion yuan and 50 billion yuan.