Al,,,,great show

Good weekend Big Al,
Since 4 trading days, $Gold had strongly held the crucial support level of 1,681.00-1,682.00 (Hammer from Nov-01).
If it stays over this level on next monday, then, Rog is right and the “Santa Claus Rally” will be set for the 1,756.00 goal.

Hello Trader Rog,
You certainly know the Wikings were outstanding traders. You´ve already demonstrate us in the past with your almost perfect forecasts that your ancestors´s skills are flowing in your veins.
You are a big Mrs Merkel´s fan. Well, Merkel points out in her speeches several times that she is learning by doing. I don´t have so much confidence in her political moves because she is using too much the delaying tactic. Hopefully she will take the right decisions in the future and she will be not as stupid as Helmut Kohl was in the past.
If Germany should step out of the euro currency, the overindebted euro zone countries would experience a creeping Weimar type hyperinflation. What a dreadful mess!

Have both, Al and Rog, a reposeful week-end.

P.S. Rog, I have lost my “single status” for 32 years and still happy about it! 😉

Morning Everyone,

Here is a comment from a listener that he sent to my e-mail:

“hey Big Al!

Don’t know if you read this yet, but this is going to shake things up a bit…and probably not a good thing for the dollar!

http://business.financialpost.com/2011/11/24/china-allows-yuan-trading-with-loonie/

Love the daily shows!”

Italy had to pay record rates to raise €10bn this morning, while France and Germany warn that a blow-out in its giant debt mountain would signal “the end of the euro.”
Meanwhile, EU Economic and Monetary Affairs Commissioner Olli Rehn has upped the pressure on Italian Prime Minister Mario Monti’s new government, calling for “an ambitious timeline” on economic reforms.
“Italy is faced with formidable challenges,” Mr Rehn told Italian lawmakers during a visit to Rome.
“The new government needs to deliver on fiscal consolidation and adopt bold measures to re-launch growth,” he said.
”Full and effective implementation will be key,” he said, adding: “It would be essential to give strong signals to citizens and markets with a clear and ambitious roadmap for reform and an ambitious timeline.”
In its bond auction, Italy was forced to pay a rate of 6.504% on bonds due in six months and 7.814% on bonds due in two years – dangerous levels that analysts say could drive Italy insolvent within months.
A day after a summit in Strasbourg with German Chancellor Angela Merkel and French President Nicolas Sarkozy, Mr Monti’s press office reported the two leaders had said a debt collapse in Italy would be “the end of the euro.”
Ms Merkel and Mr Sarkozy “said they were aware that a collapse of Italy would inevitably be the end of the euro, stalling the process of European integration with unpredictable consequences,” it said in a statement.
Mario Monti promised the two leaders that further fiscal consolidation in Italy “will be implemented rapidly with measures to boost growth.”
Commissioner Rehn is this afternoon meeting Mr Monti, who was installed on 16 November after market pressures and a parliamentary revolt ousted his predecessor Silvio Berlusconi.
Italy has been forced to agree to auditing of its books by the European Union and the International Monetary Fund and the European Commission has said more austerity measures may be needed to balance the budget by 2013.
A first report from the monitoring mission is due on Tuesday, Mr Rehn said.
Italy, the eurozone’s third-biggest economy after Germany and France, passed two budget austerity packages earlier this year when fears over its giant debt and sluggish economic reforms began rattling the markets.
Mario Monti has promised rapid action to slash the debt and boost growth and has wide public support but has yet to launch concrete reform plans.
Italy’s debt emergency has set off alarm bells around the world over concerns that it could break the eurozone.
Investors are fretting over the apparent failure of proposals to introduce Eurobonds – which would help weaker eurozone economies by spreading the risk – and turn the European Central Bank into a lender of last resort.
Concerns about Europe’s health were underscored this week when Germany drew bids of only €3.9bn for a €6bn bond auction.

Above rte news 20:11 fri. 25. What happened to GREECE ???

So the big panic this week was ITALY, Who is it going to be next week FRANCE !!! WHY DON’T THESE IDIOTS JUST ADMIT , IT’S TOO BROKEN TO FIX. Why don’t they just write a letter to SANTA CLAUSE, & hope he can deliver a fix for christmas.

Hi al, My question is for Mr. Reaugh from American Maganese. Lots of big names are interested in AMY and I’m hearing pepple say this could 1 day be a $50-$100 stock. What happens with the patent (when and IF they get it) Who does it belong to? Kemetco or AMY? With AMY Slated to go into production in 3-4 years, what will they do until then?

I hope we get some tax-loss selling here, as I would love to scoop up some cheap shares in early January before the PEA.. 😉

HI MAX,

I will pass this comment on to Larry.

Big Al

Current worldwide economic problems are without doubt the cause of a many decade expansion in the fiat money system. No nation is immune from this, nor unaffected because all are infected with this papering over of debt.

Perfect example of this is the explosion in derivatives during last decade where it went from several trillion to hundreds and probably thousands of trillions of dollars. Most of the expansion in derivatives is the result of counter party risk bets between financial operatives in a kind of insurance. There has not been any kind of adequate account or regulation of these derivatives which have all the primary dealers of the treasury at extreme risks beyond any possible paper cover.

A year and more ago the politicians in Washington talked about expansion of powers for the Fed to regulate these derivatives. I don’t think anything substantial happened and in fact the derivatives have expanded since. I can only imagine the discussions going on behind closed doors at the Fed between its governors, and from all appearances of the Fed statements and minutes it is probable that dissatisfaction, disagreement and division is increasing.

We all would love a true crystal ball to tell us how this will play out, but there are key indications and road signs which strongly suggest what we can expect. One strong indication which has been slow to develop is the suggestions, ideas and comments from deflationists (not to name any here) that are less sure about what to do and how to pay for all this. I never could understand how anyone could think that a majority of impoverished and increasing number of poor, working or not, could pay for the profligacy of expanding government and its debt. The poor are easily convinced of these government expansions when offered benefits they personally do not think they have to pay for. Politicians get into power and stay there so long as they can expand the population of dependents and pay for these programs through using other peoples money or by kicking the debt can down the road. But eventually politicians run out of others peoples money and the can kicking road comes to an end. Is it possible that all this is happening at the same time for reason? And were the derivative expansions just another mechanism to extend the road a little bit further?

One think I can see very clear from big roadsigns of what is coming, and this is we are going to see Government falling, and among some it will be whole Nations.

What scares the heck out of me is that the price of gold and silver will fall untill the disconnect with precious stocks no longer exists. Based on world situations gold should be a lot higher yet we’re falling. Every time we think that PM stocks/gold etc are ready to blast off, they don’t and our wish for higher prices is pushed out another 6 months. Somebody is pulling the strings.

hello Al and Roger,

In listening to segment 8, Roger mentions “people” going to US Treasuries for
lack of opportunities which will be supportive of the USD. With a bid under the
dollar that will consequently put pressure on the PM’s, do you still believe in
Santa Claus?
Happy Thanks,
Mary

Keep stacking as funds allow.

If one wants to sense the true core of the OWS movement, watch this:

http://maxkeiser.com/2011/11/26/ote133-the-99-percent-movement-wall-street-on-the-edge-with-max-keiser-11-25-2011/

The disconnect between the value of mining shares and the PMs is partly due to these companies. Excuse me for saying so, but why do they hold so much cash anyways? Why do the not invest in PMs adn record their value as an asset under Inventory and reduce their cash holdings?

I find that it is very easy to buy silver rounds and bars. I have never seen a slow down, despite what I read.

So if these companies were to buy rounds with their exess cash, this will help the value in gold and silver to rise. We can not do it ourselves. If these companies do not want to help, then what can we do.

If the companies are already doing this, then I will keep my mouth shut until spoken to.

Also, I find that the US dollar is doing quite well.

Just spent the day yesterday in Upstate NY. Busy busy. restaurants, attractions, recession??

Re: Segment 8.
It worries me, Big Al, that you seem to use Bloomberg commentaries.
I used to subscribe every year to Time and Newsweek. For years I would automatically renew. And then about 7 or years ago I realized that while these magazines were providers of great intereting information, they also ALWAYS slanted the REAL truth, and I just got sick of their perpetual propaganda. It seems to me Bloomberg has similar tendencies. Occasionally facts are ignored or omitted. Is this spin deliberate or are the reporters less competent than I had given them credit for?
I tend to give benefit of the doubt, but when time after time the slant is anti-capitalist or pro-democrat when something is in error or omitted, I just have to wonder.
I am less optimistic than you or Traderrog. With many major european banks leveraged at 25:1, I not only believe there is deep, deep trouble over there, but I am surprised that many more have not already collapsed. (they just do not appear to be conforming to either accepted accounting principles or even the law! Nothing is being marked to market any more. Jim Puplava might have talked about perfect financial storms when the Perfect Storm movie came out 10 years ago, but I have not in my lifetime seen the set-up for such a financial storm as we are now entering.

Problems:
China real estate bubble about to collapse.
European banks insolvent.
Many countries insolvent or out of power to increase taxation, even emerging countries.
Political LYING or deception at an all-time high. (Have you actually listened to Obama’s speeches, claiming to be pro-job creating, when they are just mostly union financing!) What part of broke does the muslim prince of darkness not understand? Sorry AL, but I’m still not sure he is not deliberately trying to destroy the United States of America as we have known it, and I used to think this was the best country in the world.
General level of corruption/dishonesty at an all-time high. (e.g. MF)
These are times, when this time really is different!

Congress to Vote Next Week on EXPLICITLY Creating a Police State

http://www.zerohedge.com/contributed/congress-vote-next-week-explicitly-creating-police-state

Excerpt:

The ACLU’s Washington legislative office explains:

The Senate is gearing up for a vote on Monday or Tuesday that goes to the very heart of who we are as Americans. The Senate will be voting on a bill that will direct American military resources not at an enemy shooting at our military in a war zone, but at American citizens and other civilians far from any battlefield — even people in the United States itself.

***

The Senate is going to vote on whether Congress will give this president—and every future president — the power to order the military to pick up and imprison without charge or trial civilians anywhere in the world.

***

The power is so broad that even U.S. citizens could be swept up by the military and the military could be used far from any battlefield, even within the United States itself. The worldwide indefinite detention without charge or trial provision is in S. 1867, the National Defense Authorization Act bill, which will be on the Senate floor on Monday.

In support of this harmful bill, Sen. Lindsey Graham (R-S.C.) explained that the bill will “basically say in law for the first time that the homeland is part of the battlefield” and people can be imprisoned without charge or trial “American citizen or not.” Another supporter, Sen. Kelly Ayotte (R-N.H.) also declared that the bill is needed because “America is part of the battlefield.”

The senators pushing the indefinite detention proposal have made their goals very clear that they want an okay for a worldwide military battlefield, that even extends to your hometown.

PART OF AN ONGOING TREND

anna: your hubby is lucky. You are one smart cookie. The Santa rally will happen as the French and Germans are ready for some big announcement. Keep in mind it will be smoke and mirrors but will prop the markets. The US Dollar and bonds are toast in the long run.. up now (temporarily) on a sinking euro. Dollar index sinks to 40-46 but this takes months. When Europe comes with a restorative moment, markeys will fly. The USA media fixers will help too. I have been seeing these for years and do not see a change. Never underestimate old age and treachery by central bankers and big fund managers. The stock market is not the economy. The economy is a separate issue but stocks can be temporarily slammed with economic news as we all know. Watch the news this forthcoming week and the arrival of Santa-Fixer taking shares to new heights. I know its hard to be a contrarian but that is my forecast. Ignore expecting any good things coming from Washington. They have an agenda and it is far from ours or legitimate. Its going worse in the second half of 2012 making trading really scary during that cycle. Traderrog

My belief is that the orchestrated but gradual erosion of civil liberties in the U.S. will ultimately be used to silence criticism from all corners, and the military will be employed for this purpose. But because the military is mostly composed of American citizens who DO believe in liberty and in the Constitution, they will largely be in conflict within themselves until it is recognized that allegiance to the current government/business/banking cartel is not congruent with their higher oaths of service. Human nature being what it is, within the military forces, some will choose one way, and some will choose the other. It’s easy to guess what that eventually brings…

Finally this, The Judge tells it like it is:

http://www.youtube.com/watch?v=dX41SkKN0tQ&feature=player_embedded

Al, Roger, this is one you should see…

Hi Mark,
Just watched your youtube link. Truly a great 5 minute speech by the Judge.
So true! Thanks much.

Hi Al,Rog,
One interesting thing about every miner I spoke to at the Hard Asset Show in SF(especially the Canadian Miners) is that crushers and mills are in extreme demand. To meet any of their guidances, the miners need to pound ore through the machines at a good clip-good ones are running between 3000-6000 tons a day of ore.
There are so many explorers who wish to sell their projects(or convert them to miners) but don’t have the 25 million to build an average mill.
Are there companies that are public that review ore core samples, or build miner infrastructure? These guys are going to rake it in. The whole malartic zone has a deficit in mills with a ton of small miners who need the infrastructure to convert the gold and silver to money.

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