Political Discussions, Economic Commentary and Jim Widdifield, a man who is making a difference
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- Segment 1: Axel Merk of Merk Funds opens the show discussing market issues with Al and Cory.
- Segments 2 – 4: A valuable round table discussion with John Kaiser of the Kaiser Bottom Fishing Report and Bob Moriarty of 321 Gold discussing the pros and cons of investing in junior mining stocks.
- Segment 5: Jim Widdifield talks about making a difference by helping others through Canada’s “Save the Children/Stop the Violence”.
- Segment 6: A round table discussion with Doc, Rick Ackerman of Rick’s Picks and Gary Savage of Smart Money Tracker dealing with investing issues.
- Segments 7 – 8: Al, Jeff Deist and Bob Moriarty discuss the NSA and freedom.
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I definitely hope that you are right Franky! (By the way, I think you and others are right!)
reality ise fukushima is gone crazy end now 1 talk diss dont buy uranium eve yo love live buy gold end silver end speek up !
nice talking bob moriarty end al korelin keep ite up ! no more sissys talk !
I definitely agree with you Franky about no more sissy talk!
good weekent hommer simpson AL
al you tongue ok ? homer simpson ! ha ha
Franky, I saw the Fukashima article on RT.
Keeping currency is a loss. Pretty much eveything else is a gamble, we can can reduce our risk tho. And gamble for profit is better than a garanteed loss.
But this fukashima thing? We now gamble on millions dead. I was thinking of moving back to the west coast. But now I think I will reduce my risk and stay on the east side of the rockies.
This thing has the potential to make Chernobl (sp) look like kids stuff.
Talk about your real estate market crash.
YES fukushima will by much dead ! europe real estate is spain end france grees end italy eve no supper nice ise dead nord europe belguim nederland end germany is 20 TO 30 % dowen a no buy soo only buy wen yo live daer laik ete a what is may tinking
i have a business man in europe wen i need 4500 euro i need to give 4 day notis most banks europe diss is capital control !
Really Franky, I did not know that.
Ha ha funny Frankie. Sound like a little drunkin and typin going in there.
I don’t think so Jon.
But what the heck, you never know!
yes haaaaa haaa best show ever al
Frankee, I mite hav missed it, but wear is your hood?
Franky’s hood is in Langley, VA.
Thanks, Dennis….is that close to DC?
Just outside, Bobby.
Thanks, Al. I will leave it at that.
Metals/Miners – Remain constructive in repair/healing mode. Phase II awaits in the offing.
Have a fun weekend~
Thanks Simon, I agree with you.
You too have a great weekend, my friend.
Thanks guys for segments 1-4….really helpful and encouraging.
In an attempt to re-introduce something of the Queen’s English into these comments (!), Bob M’s reflections that we’ve had nearly two years of a bear market being ‘a wonderful thing’ is still more so, given that I believe the typical duration for a bear market is approximately half that time, which implies that the coming bull market will be all the more spectacular.
Right on, eh Franky….!!
Reverend,
I haven’t given up on the resource sector.
It has been a very tough couple of years, but it is not over yet by a long shot!
yes a spectacular buy !
Re Seg 5 Jim Widdifield you’re an absolute inspiration. THANK YOU!
Jim is an inspiration and there are others like him out there.
We will be highlighting many of them in the weeks ahead, Reverend.
Time to illustrate some of the positive out there!
Jeff and Bob, ref your politicans I quote from Ch 3 o Glenn Greenwalkd’s ‘Great American Hypocrites’:
Sorry sent prematurely…. to continue re Glenn Greenwald
‘With the U.S going to war more than any other country (is) in large part because our political culture now demands pre-war (though always risk-free) advocacy as proof of one’s manhood and courage. This ludicrous equation has produced an entire generation of right-wing male leaders who excel at acting the role of tough- guy without having an ounce of real strength or toughness’.
John Wayne is cited as the archetypal U.S. tough guy, espousing all the family virtues supposedly cherished in the U.S. but who’s private life was a can of worms.
I did not realize that his private life was a can of worms.
You bet Al and I quote:
”Wayne’s personal life was a never ending carousel of adultery, divorce, new wives, shattered families, pills, booze and unrestrained hedonism’.
Besides that, as Bob M probably knows Wayne was a draft dodger during World War 2, staying at home in Hollywood, getting rich by playacting as a war hero. As the uber-patriotic tough-guy who castigated war opponents as cowards and subversives, Wayne always struck me as the ultimate phony, borne out in his totally wooden acting!
Interesting, thank you!
Kind of an interesting commentary on Hollywood, isn’t it!
Interesting you knew that Andrew. Americans would never voice it. Wayne was such a hero in their eyes.
bemb, you probably knew his original name was that of Marion Morrison. But did you know he wore a toupee most of his life and wore lifts in his shoes to add to his 6’4″ in height?
Bald Marion the Drag Queen doesn’t have the quite the same cachet!!
ARE WE GETTING AHEAD (A HEAD) OF OURSELVES – What is all the talk of bubbles and frothiness?
Personally I would like to see a rally before seeing a bubble.
The recent price action is nice for the trading position but serves only as a crude tourniquet for core positions.
Before we get A HEAD/ahead of ourselves and see gold being a frothy bubble maybe we should examine where it may go from here?
Take a look at the 8 year and 10 year gold charts.
http://www.kitco.com/charts/techcharts_gold.html
In 2008 – August 2009 you saw the complete formation of a massive reverse head and shoulders which gave way at the end of 09. This pattern many times referred to formed relative to a waterline/resistance area around $1000. In the fall of 08 gold bottomed briefly touching $680. From the October 08 bottom through August 09 gold spot retraced from the bottom to the waterline. A near perfect reverse head & shoulders pattern formed. A higher volume bottom ($720) a $280 spread between what was resistance and this bottom. The briefly visited piercing of the $700 level reveals a $320 spread from top to bottom.
As the theory goes with reverse head and shoulders when the resistance level breaks you can expect a rally equal to the spread tallied during the formation of the pattern.
So when you add $280- $320 to the $1000 resistance level wala you see exactly where gold went in 2010 and the first half of 2011 without much to say.
Subtracting the bottom figure from the top resistance of the pattern and then adding the result to the waterline resistance level you arrive at the following (1000-680=320) (1000 plus 320 = 1320)
Or $1320 gold
ARE WE GETTING “A HEAD/AHEAD” OF OURSELVES
So if you were bullish gold in 08 and saw the buying opportunity of the depressed price at the bottom you could have picked up $680 to $720 AU and profiting almost 40 to 50% on the return to resistance and another 40 to 50% on the break out of the reverse head and shoulders pattern taking gold to $1320. What happened in the summer of 2011 was a gravy train. You did not need to know you were buying the bottom of some chartist’s coveted pattern. All you needed to know was that you were buying value without much concern to price.
Before we do get A HEAD/ahead of ourselves let us just put in play the same dynamics to the recent market…..in other words what if we just saw a bottom similar to 08’s?
Similar to the spring of 08 when Gold traded briefly above $1000 this early spike was dismissed in considering the near perfect pattern. Similarly the August 11 spike to 1920 will not be considered the waterline/resistance level for this calculation.
Instead I will look at the $1760 level as an important level of what could be the waterline resistance seen in a potential left shoulder. This level was/has been flirted with twice in ’11 and twice more in 2012. This yet to be proved pattern bottom spiked to below $1200 but to be conservative in a not so conservative consideration let us use the 14dma low level at $1250. Subtracting $1250 from $1760 you arrive at $510. Adding $510 to $1760 would bring us to $2270 gold. The result is a forecast price of $2270 gold with the expectation of arriving at that level in approximately 24 months.
From top to bottom this pattern is twice as large as 08 to 09.
The potential left shoulder took as long to form as the entire pattern in 08-09 and should take a similar amount of time to complete if it in fact does.
Warning…..If you look at a chart long enough you begin to see things!
A rhyme/repeat of the 08-09 reverse head and shoulders on a 2x more massive scale would be nice.
My point only today is it is a bit early to be referencing bubbles and frothiness in the metal markets after what it has been through. During the period under consideration to date the Fed had quintupled its balance sheet. If they stop easing their bid will be sorely missed in the bond market. With all the hocus-pocus we should expect volatility and hair pulling gyrations. We should expect insane economic contrivances that will make you scratch your head like Colombo. Continued monetary mayhem will likely make the above calculation ultra-conservative…..assuming private property still then exists.
Back of the envelope on Silver Price and the above………..
From this point let us say silver has an outperforming rally during the next 24 months that bring it to a silver/gold ratio of 32 to 1 scene last late April 2011.
Applying the compressed ratio to the above Au price plays out as follows:
$2270 Au / 32 = 70.93/oz Ag
$70 silver = a four bagger for SLW plus 8 Qs of expanding dividend payments
I’ve always loved SLW Dennis!
Rev.,
Here is the math I scratched on a post-it back a few weeks ago when I bought more at 19.92.
The result of my quick math was that buying SLW at under $20 you were buying silver below the companies average delivery payment of just over $4.
The math was easy dividing the companies top category reserves by shares outstanding then dividing the result by the spot price of silver.
In other words you were buying circa $4 silver in the ground and they paid you to wait as they securely stored it for you!
Thanks Dennis. What’s your take on Sandstorm Gold?
As you must know Sandstorm plays in a different sandbox.
You are risking out from SLW top quartile large scale producers to something much different. I was curious by the trigger pulled this week in completing the purchase Premier Royalty. I was put off by the long term deal with EGI’s deal in Mongolia.
The deal is what it is but it was out of character.
So you know….. I sold some SAND a few weeks at 6.50 back and reinvested the proceeds (along with new cash) in FNV at $32.
It is my opinion the big guys will initially outperform.
I saw an opening this week to reverse the trade but I did not.
I still own a very modest SAND position but I need to rule out SLW, RGLD and FNV before I go there. I suspect that I will. I did add to COLUF one of their Au/Pt streams on its announced delays and fall below .70. I will likely add to SAND when relative to the above I see it makes sense at the time.
Dennis I’m not looking to sell SLW. Just that Sandstorm with whom I’m already invested looks to be well-positioned to complete further gold streams following its Q2 earnings report., A
Rev,
They have similar business models however they cater to very different niches of the PM mining markets. I have posted impressive interviews featuring Nolan Watson on these boards.
I agree with you that Sandstorm servicing a very needy junior market and is well positioned to cherry pick nice projects in the near future. I am comparing Sandstorm negatively relative to its Senior Market competition. If we can expect money flow into this sector I am trying to situate where it may arrive first.
For example in the third week of June I sold trading position in SAND at exactly $6.50. I did not sit on the cash however minutes later I bought FNV at 32.40.
FNV closed the week at 46.25.
Sand closed the week at 6.69.
My criticisms of SAND are a few.
First I wish I was in the room when he named the company.
Strom has a very negative feel to it. The first thing I think of when I hear “sandstorm” is obscure and/or blurred. Why did they not pick something like “Golden Goose Financing”? Their motto could have been
“Helping Business Create Gold”.
Another criticism is the two/joint business model. When you go to their website this is more than obvious the linkage to Sandstorm Metals & Energy.
When they announced the Colossus deal the bifurcation of the Pt belonging to Sandstorm Gold and her “sister company” receiving the Pd…I found conflicting. The distinction Pd is not a precious metal is subjective at best.
Enough said Rev. I have no plans of selling my modest core position and very modest remaining trading position. In that respect I hope they outperform.
I agree with you that the more distressed niche they serve is going to present them with more opportunity. As compared to the big guys who will be talking to companies who have slowed and placed moth balls on projects. Nuff said.
The major assumption I made in the above SLW quick math is that company administration and taxes will be offset by organic growth of existing life of mine interests. Based on the quality of the portfolio I believe it to be a safe assumption.
What is investing but assuming things will happen or not happen in the future.
Always split 8’s and aces!
Thanks Dennis for further explanations re Sandstorm. Best, A
mmm american money junkies will wake up when the cancer com from fukushima end afghan burka coms ha ha luk may mistaks ! i hope i rong
That is a very good point Dennis. Thank you.
Dennis M,
You should be included in some of our round table discussions.
I would love to Al!
But be warned the current perceived left 1580 level shoulder was visualized as the inverted head on these boards not long ago.
There have been head and shoulders on the Dow and S&P charts recently centred on the latest higs.
Also, I can find 11 inverted head and shoulders on ght gold chart since April. Some have reached their targets and some have not. Some of the unmet targets range from $1400-1610.
http://1000gold.blogspot.co.uk/2013/08/right-so-on-friday-i-thought-there.html
I agree with your focus on the $1760 level. Based on trading volume, there is substantial resistance starting right at the current price and going up the 2010 high of about $1430. From there, we don’t see substantial resistance until $130 higher at $1560. At $1690, this volume-based resistance starts to fall, but doesn’t fall sharply (like 50%+) until gold goes above $1765.
Thanks Matthew!
These resitance points wont matter much if the stories of Comex and all being so low on inventory, and the rest of the story is accurate. If you ask me,we may be getting close to kwn having the right to say “told ya so”. But I bet they dont.
Would be nice tho, 2 years has been a long wait.
benb,
I hear what you are saying and agree that the possibility is there of a force majeure Katie bar the door event.
The above is the scenario of the manipulation remaining in control as it did during the 08-09 period. If they are skilled they can control retracement to the 1440….1580 and 1760 level…if they are not those levels will be cut through without hesitation.
Of course there is the possibility we see $680 Gold again.
Scenario #1- Controlled retracement and increased prices.
Scenario #2- Uncontrolled parabolic force majeure chaotic move higher.
Scenario #3- gold crashes to multi year lows because private property is abolished
If I was not enjoying a beer I could probably think of more scenarios but I think the above has the guardrails laid out fine enough.
Of course you are totaly correct Dennis, I was just trying to shed a little humourous light on it. NO, we are not out of the woods, but come on now, we could be couldnt we? Just a little closer? lol.
We will get there for better or worse, ultimatley the kwn guys and the rest of “the gang” will be shown to have been correct all along, but I see nothing wrong with giving them “gears” I sure get it from my friends.
The most fun I ever had was a magic carpet called BOOM aka Dynamic Materials circa
2004-2007.
I am getting the same feelings in the PMs.
Something is about to go BOOM.
And the great thing is I have the additional feeling even if it does not make a bunch of money it will make a lot of money. It is a no brainer….when you invest in what is money….when they destroy the measure of the money….holders of the money will hold claim to much more of the measure.
Born on Date 01AUG13
$680 maybe, but I personally doubt it!
Yes, if many of those responsible for that overhead volume choose to hold or even buy as the price goes back up, there will be little resistance. A continuation of the current and convincing strength could make this very likely as confidence in the sector could return very quickly.
As is usually the case in any sector, the coming rise should be inversely proportional to the preceding correction. The pain recently has been so great for so many in the precious metals that it could be characterized as an inverted or bear market mania. For this, and many other reasons, I believe that we are now in for a “right-side-up” or bull market mania (but it will take a little time).
Not sure about “mania” yet, but “beginning” yes I do agree with that assuming that that drop from $1900 to $1200 is defined as a bear market.
Even a broken clock is right twice per day.
$1760 was where there was a nice big bullish pennant in gold before the 29 February leap day massacre in 2012. The breakout failed and price went down to the low 1500s instead. So I agree that 1760 is important but first we have to get past the important resistances of $1430 (from late 2010) and $1530 (the support from 2011-early 2013).
We have gorgeous inverted heads and shoulders all over the gold chart rightn ow.
QE drug will start to wear off and the market will say: give me more or we are going down because this is a zero growth (real terms) economy even with QE. No significant tapering will be possible but it will only be to give an appearance that the FED is under control by tapering a few billion out of the 85 per month. Maybe they could cut 5 or 10 per month and then increase it again later on. FED is clueless. Every major country is the same.
http://silver-and-gold-prices.goldprice.org/2013/08/gold-price-rose-44-and-silver-143-this.html
Silver up 14.3% on the week and gold up 4.4%.
Whatever happened to all those so called experts in the media calling for 800 to 1000 gold? They are now speechless. When the same media start raving about gold it will be the time to start lightening up.
Couldn’t agree more, Paul L!
In light of the devolvement of the events in Egypt ….I offer the below post I made in the February 2011 when events were mistaken as peaceful protests. The post was made after Obama made a lame foreign policy speech about events in Egypt….
A “peaceful protest” post revisited
Feb 11, 2011 3:44 PM
After Obama’s speech just now and his previous cheerleading he owns the outcome. Knowing the participants and the agitators involved the average Egyptian will likely regret the result. Both Biden and Obama said the result needs to be irrevocable. If I was Mubarak I would flee. When the Bolsheviks wanted to assure no return they murdered Nicholas II, his wife, his son, his four daughters, the family’s medical doctor, the Tsar’s valet, the lady-in-waiting and the Czar’s family’s cook. They even killed their cook. They buried them in a common unmarked grave with no identifying marker. No one was to be allowed to pay respects.
No going back there. When you know your means are going to cause great suffering you need to clear the playing field.
What confidence do we see when we say we can’t go back.
They know in the months ahead things will get ugly and going back will be favored. They need to remove the option.
Obama owns this now. The ugly will be ignored. Your peaceful protest has a body count which will go much higher. Just as the NYT ignored the atrocities of the Bolsheviks, the slaughters going underreported did not make the mass graves not exist. There are markers on them today. People go there and pray. When they pray they pray for the victims and for the tortured souls that victimized them. Myself I would prefer the mass grave of a victim than a private tomb of a condemned soul (whether it is prayed for or not).
Cordially,
Dennislaw
Great comment, thank you Dennis M!
Al,
FYI….I made that post in response to a post on the Yahoo Hecla (HL) message board on the date indicated.
“Arab spring”
Above I posted my comments of 2/11/2011.
The message I was inspired to write was from a guy who reads a little history and news about current events. The then Hillary Clinton State Department has buildings full of people who are paid for their whole careers and pensioned retirements to figure this stuff out. Why didn’t they? Or worse alternatively did they figure it out but it fell upon deaf ears?
Below is an editorial I opened to in this morning’s Columbus Dispatch… I thought it interesting as I came to some of the conclusions Mr. Gladstone arrived at long ago. I ask what were Mr. Gladstone and his colleagues writing 30 months ago? From the above it can be concluded with certainty it did not take a genius to figure this stuff out!
Read this excuse riddled explanation of how Utopia is hard to find. What Mr. Gladstone does not realize even with his admissions is Utopia is impossible to find. The idealist will discover Utopia is a carrot that does not exist.
http://www.dispatch.com/content/stories/insight/2013/08/18/1-arab-spring-optimism-fades-as-chaos-surges.html
Just finished readin the piece. Thanks
Here is how it was recived on the HL message board……………..
seasonedspecculators • Aug 17, 2013 12:59 AM
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IMO you are a third rate lawyer. A Powell Rd moron. IMO Ohio Irish #$%$. GLTU. SS
Sentiment: Hold
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dennislawus2 • 15 seconds ago
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Why does a 3rd rate lawyer see what Obama & Hillary could not?
Or is it with all the buildings they have filled with advisors who have careers and pensions to see these very things……. could it possibly be they just missed it?
Could it be that Obama and Hillary received solid advice but allowed chaos to devolve regardless?
Don’t you love it when people get angry and personal!
This comment pertains to segment 6. I agree with Al and his gut. Sometimes the gut can give up powerful messages. My gut feeling is that we are going to see a stock market correction this fall. Whether there is tapering or not. The markets are beginning to see thru all this taper talk and uncertainty and Fed impotence is starting to show thru. Smart money if going to going to seek a safe haven and it ain’t going to be T bills. We only need a small amount of this safe haven seeking money to flow into gold. And, we are going to see gold go up in price. Now, Mr Savage may be correct in that the stock markets may recover because the dumb money will buy the dips and push the stock market back up. Thats fine. Gold is going to be the safe haven in the near future. Hope you got a stack.
Got a bit, Glen.
BONDS: Some talk but not really enough among professionals and amateurs alike. People try and talk about markets from traditional historical perspectives, but this last 6 years which is really a set up of last 100 year is anything but traditional. It is as Jim Sinclair phrases, MOPE (management of perspective economics) where people trade, do business, learn, work and just about everything based upon the momentum of past history. The US has even shortened its lifespan by jumping directly into rule by Imperial tyranny and will see its Empire quickly vanish by axiom of “living by the sword and dying by the sword”.
Future trends are often foretold by changes in literature, movies, programs and general discussions among population. Writers and Movie producers will begin to create their views of possible futures which are quickly sought by readers and viewers. For example in recent years we see an increasing number of apocalyptic type books and movies depicting future visions. Productions like Hunger Games, violence, wars and so on. Of course people know full well about these trends and a few wonder why, some even dig deep into history and find similarities to explain. However the vast majority are ignorant of the changes much like a frog in water sitting on a fire, others recognize the changes and take short term advantages by preferring to ignore the eventual outcomes and all too often end up just like the frog. Only a very few hold fast to Spiritual faith and persevere through the collapse, where even fewer prayed and were answered.
The Tyrants and those that profited by them prosper but eventually fall on their sword either by themselves or associate assistance.
I recommend listening and reading Darryl Schoon, he is not perfect but he has been shown answers to many of his prayers. He understands the Bankers creations and the what, why and where things are going, and it is not dark but actually wonderful.
A manipulated environment is a “conditioned environment.”
Television Fall seasons which converted to repeats late spring and summer was partly due to the fact that many would prefer their breeze accepting porch as compared to a hot steamy TV in an inside parlor…..even with Merton Berle in a dress.
The advance of power hungry air-conditioners allowed the TV programmers to pull subjects off their summer porches. Many new home designs have meager stoops instead of the once inviting summer neighborhood inviting community porches. We now press to raise the automatic door on the attached garage…..never with the need to see another unfamiliar face until we reach a morning toll booth.
How pathetic!!!!
I again offer a link to Ray Bradbury’s “The Pedestrian”, to wit:
http://englischlehrer.de/texts/pedestrian.php
Interesting comment Dennis about the porch and garage. In Calgary we have an Indian community (from India) Sihk mostly, their garage doors are open, and on occasion they put large tents in front of them expanding the social area.
Morning Clay,
Great commentary. I particularly liked your second paragraph.
Have you ever seen the HBO series, The News Room. Kathy and I find it to be very good.
Thanks also to the reference of Schoon.
Mr Schoon is a spiritualist. While I like spiritualism I do not agree with making investment decisions based on it. Mr Schoon likes to teach history as well. Thats nice. His long term views seem intelligent as well. Buy gold, have faith? Thats his motto. Maybe this fall this will make some sense.
Getting old is not for sissies, nor is investing in junior miners!
Have personally known John K. 20 y’s back in Van City at PI and was kind’a overwhelmed with his knowledge on every Van-X stock. At the time I’ve taken over a clean vehicle, Strand Resources, and John knew all the history.
I do feel the guy is one of the few real pro’s in the junior mining space, though I still feel there are a few – like usually – excellent exceptions – making up manifold on his fundamental thesis.
I even, listen to Bob – the flyboy- from time to time, as he is monumentally outspoken on his beliefs and doesn’t really care on the outcome.
Otherwise, I’m working on my own minnows in order to grow them to entre’s for gourmands!
Thanks frr
I don’t doubt Kaiser’s expertise and the value of his work when it comes to the juniors, but when it comes to his macro view of the markets, his mainstream left/Keynesian views obviously have an influence (in my opinion). I agree with Moriarty’s assessment.
When you have some time, give me a call at 360-606-1874.
Thanks
I think it was an excellent show. Bob is very right, there is no constitution etc.
It is a police state, facism. Thing is, people dont study history and wont recognise it or what it actually means.
I remind people here, during the election I screamed Ron Paul repeatedly.
More than ever people here argued for Romney. One person after months of my screaming stated he went to his church and discussed it and found they could not be “christian” and vote for anyone other than Ron Paul.
Al, eventualy solidified his Ron Paul thinking.
My point, investers are supposed to be informed analytical and critical thinkers and most dont see it.
Bob Moriarity is absolutly correct, its going to get much worse.
All that is required is good men do nothing, and they wont. They are decieved about religion,economics and war.
Al, this has not “just coming to light” Wilson told the people what he did, Eisenhower warned everyone.. People wont listen as they dont analyse belief, they leave it up to “experts” to inform them.
Here is a question, as we know enought to do our own due diligence with our investments, why dont we do our own due diligence with our religion? or government?
Are we showing our true priorities?
Right on all counts, benb. There is nothing new or partisan about what is happening.
Yes benb, definitely right on all counts!
Al? I heard you say that you would be mentioning some of your favorite current juniors, but I never heard you actually do so. What are your top three or four these days, anyway?
yes steve ; al what are you top 3 juniors tank u all
Franky in a previous life wrote script for Hal Roach…..
Oh, he wasn’t a congressman or senator?
Actually I think he is a former president.
chart dont meen noting ine manipulation markets ! dennis ! al gore loves yo all is ok dennis keep luking yo never now obama loves yo to !
OH tay Spanky!
A solid junior is TMM -timmins gold. This one is like a blue chip junior. It held better than the majors like Barrick. I have invested in that in the past many times and done well with it. Great management and mining team. I don’t trust 99% of juniors and stick with the majors with that one exception.
tanks i luk ine to timmins daer cass how much ?
It is great buy at around 1.90 to 2. It should head back to $3 over the next few months if gold continues strong.
Check the technicals before you buy:
http://stockcharts.com/h-sc/ui?s=TMM.TO
I am going to put in orders at 1.90 and 2 myself. I never realized it came below 2.
how much money in the bank timmins gold paul l tank u nice chart !
Paul:
I agree. Even the good juniors have cash flow problems. If bought out, Juniors will sell for lower prices as the big guys go on a bargain hunt. I like GG: 2nd or 3rd in gold production, good reserves in relativly safe jurisdictions, about 850 million in the bank, no debt, low cost producer, good management. 31 million oz. annual AG production. My $30 and $35 Jan.17, 2015 calls doing well. May buy more…….
Listen to my Daily Editorial tomorrow, Steve.
PEAK EVERYTHING? Well, peak most things!
Rick Ackerman is sounding like Harry S Dent on the demographic makeup and falling standard of living in the USA, Europe and Japan.
Rick is right, I think. The same applies to Europe in a big way, including the UK. Baby boomers have to work till they’re 90 as Rick says bit will there be any jobs for them? I think not, at least at any wage level people would find acceptable today.
The standard of living in the West will fall in a way that is shocking. Jim Willie describes it as the de-industrialised 3rd world (like Detroit), a very prescient comment. I look to the possibility of a 10 fold movement in Western currencies versus Eastern Asian currencies at some time, to re-balance the world’s trade. Think of the dollar as 50 Philippines Pesos moving down to five. (In 1903, A Philippines Paso was a dollar sized silver coin, struck on dollar blanks at the Denver Mint, so they were 1:1 in 1903. These movements can happen.)
Personally, I feel that we have reached Peak Healthcare and Peak Technology.
Just from the memory and hard disk size of computers on sale in the last 4 years, the increase has slowed. Moore’s law is failing I think, no longer doubling every 1.5-2 years as has been true since 1990. Micro technology and nanotechnology have been great and made many of the wonderful gizmos that Rick has mentioned but it will reach important limits determined by physics in its current form. People were talking of optical computers as the next stage in the 1980s at British companies where I was involved but these have not materialised.
I personally think that ‘ordinary’ or macro technology actually peaked 40 years ago partly because America reached peak oil in 1970 (and went off the gold standard). Think of transport as the best example.
Macro technology has not progressed in any meaningful way since 1970. The USA went to the moon from 1969-72; never been there since. Space Shuttle was a failure and is retired.
In 1977, you could go from London to NYC in 3 hours at Mach 2.0 in Concorde for 700 a GBP fare. Concorde is not retired after one accident. Now you go at less than Mach 1.0. Supersonic public flight is over.
In astronomy and technology books in the 1970s, you had illustrations of moon bases, trips to Mars and hypersonic international public transport, expected to be in place by 1985-2000. None have been achieved.
I visited Wright-Patterson Air Force Base Museum in 1983 on a trip to the USA. I saw the YF-12, built in 1962, the prototype of the amazing Lockheed SR71 Blackbird spyplane. A Mach 3 plane from 1962! This aircraft is also retired, as far as we know.
The museum also had the Valkyrie, the other most awesome plane I have ever seen. It looked like a parked white swan. A Mach 3 bomber from 1966. We don’t have one of those in 2013!
In all these ways, we have gone backwards. Most technology progress since then has been in fuel saving technology, because we reached peak energy a while ago. Micro and nanotechnology is also a sympton of this because these new gizmos, iPhones etc are very small and do a lot, for the energy they take to make and use.
If we get to the end of Moore’s law, then we are really in trouble, because both macro and micro technology will have peaked, just as we are at the top of a gigantic credit bubble.
I am beginning to sound like Chris Martenson so I will stop now!
Oh, I forgot. We were on the verge of nuclear fusion power 40 years ago. We still are. No fusion power stations in sight! We are about as far from that as we were in 1973.
I would say ignore all the BS that is talked about the singularity and how we are at the edge of some kind of transformation in our lives due to advancing technology and the continuation of Moore’s law. Forget it. There will be advances in this and that bu we will need a fundamental new advance to move this forward. For a start, we need to make nuclear fusion power work soon or we are screwed.
What do you think about what is going on in New York City. Speaking of evolution!
You know, I think I overdosed on doom and gloom just there. I went out for a lovely walk on Sunday afternoon (yesterday) after a delicious dinner at a good friend’s house. We went to Wicksteed Park in Kettering, Northamptonshire. The sun was out and fluffy clouds were in the sky. There must have been someone who had an accident or was taken ill as we were there, because the Nothamptonshire and Warwickshire yellow helicopter ambulance circled and landed, much to everyone’s surprise. It was so cool to see the thing take off and land at such close range. In the end, a 4-wheeled ambulance (without wings) carried the patient away and the helicopter left with its paramedics and doctor on board and no patient. Many people took pictures and waved as they left. (I didn’t have my camera of course! Duh!). The yellow whirlybird took a look at us and ascended slightly in reverse into the blue sky, lifted by an invisible force . Absolutely fantastic. Life is for living, isn’t it?
Thanks Silverbug Dave,
I really needded that first thing this morning.
We had a really bad evening last night .
We rented our gorgous little second home to a couple of guys who turned out to be crazy.
Our attorney got them out yestetdsy aftetnoon and we went over to look at the place. It was completely trashed. Silverbug, this place was our pride and joy.
We are still numb after ten houurs.
I can bitch about humanity, but I am not going to do that. As Jesus said, “Shake the dust from your sandals as you are walking away.”
Thanks for your words of wisdom. I really agree with you and your comment came at a very opportune time for Kathy and I.
Have a wonderful week my friend.
I originally bought into some of the peak oil theories. The statitics seemed quite supportive of the idea. However, against my better instincts, I disregarded my long held belief in man’s ability to think and innovate. Lo and behold, we are now undergoing a mini revolution in the states with fracking. I suspect this can also bring into question some of your arguments that we are in “peak technology.” Now, it appears that the geo-political landscape can be changed once again by American know how and technology. In my opinion, this has been a bright light in a dusky American landscape. I would love to explore the impact this “may” have on our long-term trade and budget deficits. and ultimately gold.
Please explain your comment about the geopolitical landscape.
Gladly. Top Saudi officials have discussed fracking as a danger to their country (Prince Alaweed). Slackening demand for Saudi oil can threaten the stability of not only the Saudi Royal family but S. Arabia as well. This could certainly spill over to other nations in the middle east. Furthermore, if our demand for Saudi oil diminishes, does this mean the Fed has to increase bond purchases because petro dollars will be funneled back at a diminished rate. Also, would we be able to limit our military excursions in middle east because we won’t need their oil as much? Furthermore, if Russia can’t export as much nat gas to Europe because of our overabundance of gas via LNG, how does Putin respond?
You raise what, in my opinion, could be game changing issues Chico.
These comments certainly merit discussion. Look for a Daily Editorial shortly.
Thanks
Nah, Franky wasn’t any of the above – Whisper it quietly he was PM Gordon Brown.
The Brown Bottom
GREAT SHOW……….thanks Bob M. ……I SAY….” BOB FOR PRESIDENT.”………….
Al, I disagree: America is not going to go back to where it was before. That would not be progress. It will never be same again. Things will instead move forward to somewhere else, perhaps not where we would like to go. There is too much competition from elsewhere and too much debt, government and corruption at home, with too little free enterprise, because we already have less liberty and freedom of ideas. Most of our young people are eerily conformist, don’t you think? The Western world, like any bankrupt will be dumped by its Asian creditors at some point.
I doubt that manufacturing on a large scale can come back to the USA and the UK, for example. Firstly, wages would have to fall massively to be competitive. The skills have largely left the population and have been taught to Chinese and other Asians. Eventually the research and development will find its way to Asia, because the production is there. You cannot efficiently develop a new product without deep practical knowledge of production within an R&D team, or at least close access to experienced production people and facilities. Then the Company HQs will find their way to Asia. Then the stock market listings will go to where the new money is.
The de-industrialised third world is where we are going.
Our foreign creditors are waiting … like the man sitting on the riverbank waiting for his dead enemy to float past, as in the proverb. There is no need for them to make war. At some appropriate point, they will pull the plug on the West financially and it’s all over.
This could mean that Western retirees will literally be dumped and left to die without state healthcare or the money to buy private healthcare. The currency adjustment can occur on a 10:1 basis between East and West, so oil can go from 100 to 1000 US dollars per barrel while it will be the same price in Chinese Yuan as before. The Asians and BRICS nations can then reach their goal to have the greatest claim on the world’s remaining resources, while their population is young and productive. It is fitting in a way. It is a slam dunk. The world cannot afford the baby boom retirees in the USA and Europe.
Once the readjustment has occurred and some time has passed, the cheapened western currencies will have facilitated the required 10 times fall in wages to make the West competitive again. The life expectancy will have fallen and the remaining population will be young and productive and ready to manufacture again, this time mainly to serve the Asian consumer. Then we can start a new cycle of prosperity from a low base, serving others. It could be almost like we had elite planners who intended it to be this way.
What did Doug Casey say? “Europe will be a petting zoo … a source of maids and houseboys for the Chinese.”
As the great Jim Rogers spoke “England was the place to go in 1800, American in 1900 and Asia in 2000.”
We can do nothing abut the big picture. We just have to try to protect ourselves and our families and give them the tools to survive – education, ideas, tangible assets, etc. Plus, we all need to try to make a difference, as your guest Mr. Jim Widdifield has done.
Great post Dave, thank you, A
I think that we both agree as you point out in your sixth paragraph.
And yes, you are correct about Jim.
yes bob president ! end AL ?
And franky for vice-president!
Category: humour (now) – wasn’t so funny at the time.
quote:
On April 8, 2013 at 11:36 am,
SilverFox says:
Gold as an invest class is dead going forward.
Gold did a terrific job for past 12-13 years due to economic anxiety.
US was burdened with two unnecessary wars, banking sector was bloated with toxic mortgage derivatives, countries like India and China were growing at 8 percent annually – all these fueled to the gold appreciation.
Then US Fed found a magic formula of printing dollars and keeping inflation under control. Excitement is fading for Bric growth, US banks are flushed with easy money, No war like scenario…all in all, anxiety index has fallen to ground.
Gold will slide down to $700-800 range in next 2-3 years.
http://www.kereport.com/2013/04/08/socgens-crash-scenario-gold/
I thought SocGen has a 1200 target for gold. It has been met. US is now a world of delusion. Stock market reaches new high on falling earnings! HA!
Silver Fox is toast!
Haven’t heard much from him, have we!
Above is an interesting article I found on GATA.
When reading Mr. Hambro’s stark depiction I thought….if there is a more massive default on physical delivery at the exchanges then said development will occur when
premiums between paper and the physical are at all time highs.
Another thought is to what extent can the default occur and settlement is done with hush money. Say major contract holder A demands delivery. Exchange B says you cannot receive delivery but we are going to pay you in currency…. plus if you keep quiet by signing a gag order we will pay you spot price plus current fmv current market premiums plus a few percentage points. It would not prevent the inevitable but it could delay it some.
There is still a massive amount of radioactive water leaking from the Japanese nuclear plant in Fukushima. I thought the leaks were over by now.
http://www.zerohedge.com/news/2013-08-17/radioactive-water-leaking-fukushima-what-we-know
yes yes tank u PAUL.L tup UP TO YO !
I am glad I hoarded cans of tuna just after the earthquake.
Prior to the one of favored canned goods being tainted with post Fukushima product.
Maybe we should take our Geiger counters into the store with us to test to see if the “Chicken of the Sea” cause the detector to beep.
Could it be that all the surveillance will be for naught as we import small doses of radiation in increasing smaller little cans packed in spring water and/or oil.
FYI & Not to crowd upon upon Franky’s Langley stick….I intended line 2 above to read
“Prior to one of my favored canned goods being tainted with post Fukushima product.”
Pretty scary isn’t it!
AGENDA 21 DEPOPULATION AL i now crazy is realy REAL slowly but surely day never STOP !
We will need geiger counters in your local store next to the price check machines.
Hebrews 11 , 1-3
1 “Now faith is the substance of things hoped for, the evidence of things not seen.
2 For by it the elders obtained a good report.
3 Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.”
I stumbled onto the above wisdom watching a rather dry evolution v. creation debate.
The Ontario Canada students aired out the issues….one student in a very impressive way.
The above reference was offered by a mere questioner. And as you will have sometimes the most insightful truth is more likely to be experienced when originating below the stage.
http://www.youtube.com/watch?v=Rnpl3kxMfrc
The question begins at the 1:43 mark of the debate… the creation presenter just prior to the question is also worth viewing. If you watch notice the evolutionist’s body language struggling with the question posed.
ThanksDennis M
yo seme to by a INTELLIGENT MAN . dennis m . a question creation ore evolution ? GOD ORE NO GOD ? dennis m ?
I believe in God!
Splain ta mi Franky…. what better scientific explanation for our mere existence as compared to:
“In the beginning God created….”
Five words that science is not capable of refuting because to do so would mean science took a leap of faith. Science cannot prove what it cannot prove. Science requires existence to matter…pun intended!
Maybe God created a test of faith so perfect that it requires belief in God.
And why not?
Oh tay Spanky!!!!!!!!!!!!!
how is the devil or what i may ask ?
The devil is doing just fine. However, he remains powerless in the presence of truth and a well exercised free will.
Pretty astute comment from a “third rate lawyer”!
Well, actually probably “first rate”!
Israel and US are like inseparable twins with the little cry baby controlling the giant.
Not quite as much as they were Paul. Didn’t Netanyahu call Obama ‘goyim’ or some such while supposedly off-camera. Goyim is a Jewish word for traitor.
Rev:
God bless Binny and also the army in Eygpt; our best hope for peace or at least stability in the mid east
For me I dont understand the debate. Both sides seem befuddled.
The religous in their “world not millions of years old” and the evelutionists not accepting thought before action, which is obvious, put another way, non physical before physical.
I have never thought our puny species mind is near an understanding of a god or gods.
I think it arrogant to believe we are.
But, maybe some light is now being spread to enhance our understanding. A slightly differant way to ponder things.
I give some similaritties to todays prominant religions.
KRISHNA; India 900bc. Born of a virgin,star in the east,performed miricles with desi-les and reserected.
ATTIS Greece 1200 bc. Born of a virgin. Born Dec 25,crucified,dead 3 days,resurected.
MITHRA Persia 1200bc. Born of a virgin,born Dec 25,12 desiples,dead 3 days,reserected,day of worship sunday.
HORUS Egypt 3000 bc.Born Dec 25,born of a virgin,birth acompanied by star in east,adord by 3 kings,teacher at 12,baptized at 30 began ministry,12 deciples,performed miricles, called lamb of god,gods anointed son,truth,light,good sheperd, betrayed by Typhon,crucified,buried 3 days reserected.
The elements of Horus the same as Jesus are too many to list here.
The list of gods with the same story as Jesus is very long.
I believe Joseph of the old testement has similarities, maybe someone that read the bible could confirm? sold for silver,betrayed etc.
My point is, maybe its time for both sides of this debate to, (shall I suggest?) advance our understanding a little?
I remind everyone, creation is constantly expanding, we will never understand all of it, only grow and hopefully become….well, better creators maybe?
benb,
Let us do an experiment.
We take a farmer and have him plant pebbles instead of seeds.
Maybe we even make an edict that all farmers shall plant pebbles instead of seeds.
Would the pebbles create a crop before we all go hungry?
I dont understand your point Dennis?
In brevity because I have a pizza in the oven….
It takes faith to expect life to arrive out of non-life.
Whether it is a religious person or a person who clings to and/or embraces science.
I understand your thinking, but I have to disagree.
To me, thought before action is just too obvious, non physical before physical,spirit (?) before flesh.
I just dont see it requireing faith over reason.
To me, it is entirly reason and not faith.
A creator exists, maybe I see it that way as I am not christian.jew,moslem etc.
bemb – v.interesting. I believe that there’s far more syncronicity between all these sacred faiths than we in our arrogant finite capsules of time, conditioning and nurture can ever properly appreciate.
Religious bigotry/certitude is for idiots of whom there seem to be many millions.
Hello Andrew, I have just discovered this myself. I have not decided what to make of it yet. But it does give reason to see things differently than I have been.
I was hoping you could confirm similarities between Jesus and Joeseph?
I dont read the bible.
bemb I haven’t explored the Joseph/Jesus connection although I’m inclined to believe that Joseph was a real figure in the Old Testament.
What perhaps is of greater interest is to explore what happened to Jesus during those intervening years (approximately between when he was twelve and thirty) about which we know nothing. There’s a plausible case to be made that he joined the Essenes – a desert sect who were also known as the Therapeutae (meaning healers) and from whom he may have learned the healing arts. The Essenes went back many centuries I believe if not to the time of the Buddha, even as several of Jesus’ parables are said to replicate some of the Buddha’s teaching.
Having said that let me clarify that I have no problem declaring that Jesus is Lord, and that I see Him as THE guide and counsellor in my life!
Best wishes, Andrew
As you know Andrew, I completely agree with you.
God blesd.
Thx Andrew. I had forgotten all about the Essense.
First of all, Arafat is wrong. Jerusalem is Israel’s capital, will never be divided, and will remain the capital of the State of Israel, the capital of the Jewish people, for ever and ever.
Benjamin Netanyahu
He is a funny guy. I guess he has never seen a 1946 map of Isreal.
Or that the Wailing Wall was the same name as given to it the Arabs in the 1920s, with both sides claiming it is theirs. Incidentally that wall is not built on the ruins of Solomon’s/Herod’s temple as modern-day Israelites insist. Josephus makes it obvious that ‘the wall’ is but a remnant of a Roman fort called ‘Antonia’.
Feuding over rocks and ruins is the ultimate madness.
If one applies logic and concludes pm’s are worth owning, why would they anticipate a huge drop in equities? At this juncture, what supports pm’s is also levitating equities and that is an accommodative Fed, negative real rates, stagnant wages, etc.. Also the Fed subscribes to the “wealth effect” theory on the markets. Therefore, should we not expect more accommodative monetary policies should the market drop precipitously? It seems rational to me to stay long pm’s & stocks. A sell-off, should it occur, should be short lived, in my opinion.
Fifty bucks says the BOGUS Snowden (government operative) scam is going to turn into a “revealing” of the “UFO” cover-up before too long. They will use the whole hoax to convince the world that there is life on other planets … Also playing into their entire conditioning process via Hollywood (every second movie is a ufo propaganda flick). Blah blah blah … Why people can’t see through the propaganda is beyond me.
bentnail…..there will be life on other planets…..when Romney checks out……….joke
Stifle Edith!!!!!!!
Jerry:
Tee hee (good one).
dont by sissy BUY gold no play time now buy time !