How to Deal with Economic Uncertainty
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In this show Al discusses:
- Segment 1 – Peter Grandich puts on his Trinity Financial hat and discusses what he tells his high profile clients.
- Segment 2 – Al, Trader Rog and Cory discuss Corvus Gold.
- Segment 3 – Rick Ackerman of Ricks Picks discusses gold and investing.
- Segment 4 – Matt Bruce, The Voice of the Tea Party, discusses government.
- Segment 5 – Al and Cory discuss Formation Metals with Rick Honsinger.
- Segment 6 – Grant Williams of Things That Make You Go Hmmm, gives his perception of the economic situation in Europe.
- Segment 7 – Trader Rog and Al take a stand.
- Segment 8 – Grant Williams is back to discuss the dire economic situation in our country.
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
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A beneficiary with special needs can be provided for by what is known as a “Special Needs Trust with a poison pill”.
Breaking it down a little the Special Needs Trusts provides for non-custodial needs meant only to augment programs that provide for basic needs. The idea being the funds are not meant to replace room and board provided elsewhere but is designed to improve the lifestyle of the recipient.
The poison pill designation provides that in the event any agency of government determines that the existence of the fund cause an otherwise available to be no longer available to the beneficiary then in such an instance the Trustee would be instructed to distribute the assets to the next in line beneficiary. This clause gives the Trustee leverage. The government cannot make a determination and then force the Trustee to violate Trust provisions and thereby violate fiduciary duties.
In general I advocate anyone with even a modest estate should favor trust planning as compared to will based plans. Trusts allow for privacy, estate tax avoidance without increased administration, private asset management during a period of incapacity due to illness and/or injury and probate avoidance after death.
Hi Dai W and Dennis,
Many thanks for that insight!
Big Al
DON’T support Medical Doctors DRUGGING our kids with pharmacuetical drugs.
Anti depressants side effects are suicide. Are you kidding me?
Thanks for the comment, Terry
s!
Big Al
So China took the first gold in the Olympics. Would it have been any other way? Our athletes will be wearing T-bills around their necks.
The uniforms of our athletes Are made in china.
Isn’t that patriotic!
Big Al
John W.
CLASSIC…..JUST CLASSIC. LOL!
“I got a million of ’em!”
BTW, anybody that believes what Geithner says; I have a piece of beautiful, gorgeous waterfront piece property to sale you……………in Phoenix, Arizona!
I want it! Marc! I want it! I’ll take it! Can I see the ocean from the back porch? 😉
stay frosty and have good weekend buddy!
Phoenix is one good earthquake away from being ocean front property!
Now that’s a thought, John W! Maybe I should buy it now then sell it for a MAJOR profit when the ocean comes rolling in after the BIG ONE 😉
Hey Mark Alan,
I have a condo in Orlando, Fl that is supposed to be ocean front when global warming raises the sea level. I’ll let it go right now. Operator standing by. Don’t delay.
Howdy Jerry!
Nah. I’ve been to Florida several times and I am not a fan of humidity, sorry.
Sure, John W.,
And the US Dollar in one big (16 trillion dollars) generous donor away from becoming respected and legitimized as the world’s reserve currency again. Ha! :). (Not as good as yours above, but at least, I tried!)
Marc
MARC…..ABOUT THAT PROPERTY…..SOUNDS LIKE A”ONE OF A KIND”….YOU SHOULD HOLD OUT FOR A VERY HIGH PRICE….supply and demand , you know….,
bythe way……I understand Irish is looking to get some real estate close to
Las Vegas..give him a buzz….(phone call)
I have to be careful using the word buzz around Irish…he associates ,buzz, with beer…
Jerry,
Ha!
You guys are all great!
Big Al
Big Al –
Love your website and your dedication to it.
I think the amount of time that each Saturday segment is allocated is the optimal amount of time for a mining (natural resource) company’s rep to inform your listening audience on the developments, past and future, of their company. Although I enjoy a discussion of the political landscape, etc. (because that does impact the financial markets), I , for one, would be more in favor of a concentration on individual companies.
In addition, any analyst that would like to share his favorite companies to invest in would be most welcome.
Interesting idea going down fast!
Big Al
Regarding segment#7.Does anyone recall the 60 minutes segment a few years back where a film crew spent a couple of months in a remote S.A. village and showed the kids pro wrestling videos,and over time how their behavior changed,and how aggressive they became with each other.It was amazing and bolsters what Big Al and Roger are saying about video games etc
Hi Ann,
I feel very strongly about what roger and I talked about. How can anyone not feel strongly
abou that?
Big Al
Do you think the Olympic globalist elites regret having associated precious metals as the awards for the athletes? Why give a barbaric relic to the winner? Just another reminder the metals were and are now precious. Each award ceremony is a reminder that internationally the metals are to this day recognized as precious.
Good call,
Dennis
You are absolutely correct, Dennis M!
Big Al
Hi Big Al,
Great questions and answers in interview with Matt Bruce. Ron Paul would be great as Sec of Treasury. Best to you.
Hi Big Al, I`m with Keep Stacking, with Ron Paul as Sec. Treasury, but also allow Ron Paul to be V.P. as well, if Mitt Romney doesn`t finish his term in office.
if Ron Paul becomes Sec.of Trea…..HE WILL HAVE A HEART ATTACK WHEN HE OPENS
THE VAULT AT Ft. Knox and sees it is empty……the administration will blame him for the missing gold…..and that will be the end of the tea party……
Hi Jerry, U.S. News: Will the Real Tea Party Please Stand Up ? http://www.dailypaul.com/246617/us-news-will-the-real-tea-party-please-stand-up?utm_so… we can blame it on the other tea party of Michelle Bachman-Herman Cain since she is part of the inner workings of Dick Cheney`s crowd. If anybody stole it it would have been Cheney who did the deed.
Hello DENNIS…..BACKHMAN AND CAIN….all we need is CURLY…..talk about stupid….
Oh..if we have Bachman, CAin, and CHENEY….NOW WE HAVE THE THREE STOOGES….
In the Box,
Okay not certifiably insane. We all agree on this one!
Big Al
If he wins he will finish his term in office
BigAl
Hi keep stacking,
My thoughts exactly!
Big Al
Hello everyone,
It’s a great day here in the northwest.
I hope you all are Enjoying your day.
Big Al
I re The Bonus Army that Lynn and TR too readily dismissed:
http://en.wikipedia.org/wiki/Bonus_Army
If you study this part of American history you understand we are not becoming today’s Greece in a couple years….we became today’s Greece in 1932.
Government denying promises is often met with hostility.
There will be another MacArthur fresh out of West Point desiring credentials.
Marching on DC was not invented bu the civil rights movement.
It is where you need to go when the politicos say “Let them eat cake!”
MacArthur graduated from West Point 29 years prior to 1932….if you study this part of history…..
Tex you make an inference I had not intended.
By another MacArthur I meant only a US military leader willing use force against an assembly of US citizens. Veterans of a foreign war themselves some of whom were former MacArthur led troops. What I found telling is the 1924 World War Compensation Adjustment Act the American legion was instrumental in achieving the “bonus” provision. Politicians were quick to seize on broadcasting their support for the law demonstrating themselves as friends of the veteran groups. Five years later, when tough times hit, many who served the country the most were ineligible to receive outright cash payments until WWII was almost concluded. So we find WWI veterans given “manna from heaven but from congress”. They had little in employment opportunity, severe droughts, and a ticket for food that was not redeemable for over a decade. In 1932 these Americans were denied early payment on money they did not truly earn….money promised to them after the service….money they could not actually receive until 1945. This would be the equivalent of the French peoples demand for bread being met not with “let them eat cake” but by giving them a coupon for bread redeemable when Napoleonic years conclude.
So the troops did not earn it. They were promised it after the fact. When they requested accelerated payment in tough times they were met with a stiff arm and tight Federal wallet.
Today we give people who do nothing debit cards which automatically reload causing lines in Wall Marts at midnight. We pay people not to work. We pay people not to grow food. We pay green energy businesses to go bankrupt. Do you think we could have handled it differently?
I remember starting law school as a summer starter in May 1989. Then the 24 hour news networks were all over the coverage of Tiananmen Square protests. http://en.wikipedia.org/wiki/Tiananmen_Square_protests_of_1989
I was captivated by it then in early June when the boot came down on the protesters the iconic picture of the protester defying a column of tank was all the rage….rightfully so I think. A photo of the standoff can be found at the above link.
Then I remembered the “bonus army” and MacArthur clearing their DC tents out with infantry and tanks. Wondering what photographs of it went unpublished.
We as Americans often express outrage at other countries human rights violations. Sometimes we should look at ourselves. That was just my two cents for the day.
And Tex…I should have written the first post more clearly….your critique duly noted.
BTW I am a fan of MacArthur leadership skills and military accomplishments the above though is the equivalent of pouring an ounce of ink in a gallon of milk. The Gallon is still mostly good but somehow it is ruined.
Pardon my misunderstanding.
BTW Tex….I would have preferred Congress not to have passed the 1924 law providing the bonus. At law past consideration is not good consideration.
Congress often makes promises to carry favor.
They place citizens in situations of dependency and expectations.
Encouraging them to become squeaky wheels in order to receive lubricating Treasury
freebies. Like Pavlov’s dog we begin to salivate at legislation instead of hunting for a meal.
Agreed. in toto.
Toto is my favorite L. Frank Baum’s charcter.
Bonus Army that Lynn referrenced and TR too readily dismissed.
Interesting point. P How about you and I do a segment on this?
I won’t miss a call this time!
Big Al
Al
If you want to know about the “Bonus Army” read “B. E. F. the Whole Story of the Bonus Army” by Waters….it is a first hand account rather than wikipedia.
Neither Wikipedia nor a single book should be the sole source of one’s knowledge.
Although Tex I do agree that book is a good firsthand account and well referenced to primary sources.
Thanks Dennis and Tex!
Big Al
Seg. 7 after my previous comment, this time I am going to go with video’s and movies might be a reflection of society as opposed to leading it.
I also think that the idea that europeans ever having morals in North America is debatable. Therefore how could morals erode?
But what I really wanted to mention, is that I have heard the topic of morals discused a few times in the last few days. I find that interesting. Universal conciousness working? MSM included.
The other thing I wanted to say, is I have heard the word “psychopath” used more frequently when discussing world leaders, bankers etc.
Is it possible sheeple are about to realise it is the psychopathic leadership that wants people to harm one another and not the people themselves?
I am probobly dreaming, but I still “imagine”.
1974 supertramp, “Crime of the Century” happened to listen to it, interesting.
Morning Ben,
You make some very interesting points!
Big Al
U.S. Backs Out of U.N. Gun Control Treaty at Last Minute http://patdollard.com/2012/07/breaking-u-s-backs-out-of-u-n-gun-control-treaty-at-last-mi… `Some diplomats said that Washington is seeking another six months, pushing off any decision on the politically sensitive treaty until after the U.S. election. Russia, Indonesia, and India alsp asked for more time.` [“Hilter, Stalin, and Mao agree…gun control works.“ Shall we say that adding Obama`s name to this quote seems to be what`s in his heart, if he had a heart or as the Bible has said (Luke 6:45 A good man out of the good treasure of his heart bringeth forth that which is good; and an evil man out of the evil treasure of his heart bringeth forth that which is evil: for out of the abundance of the heart his mouth speaketh.) Evil Is…
Morning Mr Brophy,
More proof that we can learn great things from the Bible. Thank you.
Big
Al
The biggest danger ahead for the US dollar is gold because now that it is losing it’s status as the Petro-Dollar; ie China, & Turkey buying oil from Iran using gold the rest of the oil producers could one by one drop their requirement of accepting the dollar and this would ensure it’s collapse and loss of it’s status as The World’s Reserve Currency.
Because Gold (the only true currency) is being used to settle these accounts I prefer it as an investment over Silver. Ultimately in the final phase of the Gold Bull Market I believe we will see Gold rising much faster than other precious metals. JMHO!
Shawn,
I wonder if the we have some sort of a gold backed currency if the POG would become fixed? Of course, at a much higher price than today.
I teach college-prep math and pschiys, and I’m amazed at how many of my students don’t know their times tables; how they use their calculators for 3 7 etc. There’s almost nothing that slows them down in their problem-solving like this, other than lousy study skills. And a small one in algebra: they’re taught synthetic division for simple polynomials, but not the long division (of numbers or of polynomials) on which that mostly-useless short cut is based. What were they thinking? In the south Fraser region, we have over 300,000 adults with inadequate literacy and numeracy, yet only 50,000 high school dropouts so 250,000 high school grads with inadequate literacy and numeracy! Something’s wrong here.A very good point about synthetic division. In fact, there are only two learning outcomes in WNCP that mention synthetic division and long division of polynomials, and none at all that mention long division of numbers. One has to ask how these can be understood without that prior context/skill. Further, the two mentions arise in achievement indicators , which are defined as follows: may be used to determine whether students have met the corresponding specific outcome.(emphasis WNCP, not mine). The outcome in question isDemonstrate an understanding of factoring polynomials of degree greater than 2 (limited to polynomials of degree ≤ 5 with integral coefficients).Clearly a teacher needn’t cover either topic and, in the limited context described, there is good reason to avoid this level of sophistication. Yet I judge this to be the most advanced outcome in the curriculum pertaining to polynomials. WISE MATH (R. Craigen)
Morning Shawn,
I read a great article in yesterday’s wall street journal About the gold standard
I love trying to reply on my smart
phone Because grammatical errors seem to be the norm!
Big Al
The biggest danger to the US dollar are Americans themselves. Have to be the most conspiratorial hateful people in the world. Have to be.
There is an expression gaining a lot of momentum by American conspiratorial wing nuts who follow David Icke, SGTReport,,,: ” false flag”.
If something is done to make Islam look bad, it is a ” false flag”; ie, attack on Giffords, Fort Hood, 9/11,, perpetuated by Mossad/CIA.
It is really a sick disease. Combined with your revolting lying media to disparage gold and silver and present Israel vs. Iran, as if it were 2 opposing football teams, small wonder America is ball of confusion.
Small wonder that Obama is your Prez and you have 16 trillion in debt.
I just returned from Miami. All the crazy people I came across, in all due respect. What has happened to America? I pray for it everyday.
Sad that it has been de-industrialized. I do not know what will bring it back other than a standoff between the USA vs. China and The latin world and the arab world that is industrializing itself slowly and India. All your jobs have gone there for silly call center customer service jobs.
One saving grace of the USA is Nevada. Apparently has more gold than Canada, Russia, China and Ghana combined. Could be. If so, that State will not care about the landscape. Dig, baby, dig.
Re: gold rising to $56,000 an ounce for the USA to balance its books. Book as the USA dumps the gold on the market, the price will fall. Plus, how many buyers do you expect to buy gold at $56,000 an ounce??
Can’t see how this will end well for the West. Things are going to get ugly and mean.
Enjoy your week!
For the most part, James B, I would agree with you.
Don’t paint us all with the same brush. I maintain that we are still a country of mostly good people. There are some real wingnuts out there and they are definitely not just the conspiratorial crowd as you call them.
I get pretty concerned oftentimes when I travel, but then I have experiences like I had in New York on a subway to a Yankee Game back in May. I have never seen a more polite and friendly group of people. And no, they were not drinking Bud!
Best,
Big Al
the big money or at least quick money isn’t going to come in the precious metals sector right now. Especially silver. It’s a broken parabola for goodness sake. Those take a long time to recover from.
The metals at best have one more daily cycle higher and gold will probably only reach $1700 during this intermediate cycle unless Ben gives us QE next week. If that happens maybe $1800.
Gold is going to be moving down into Sept. Why? Because that’s when the next daily cycle low is due.
The fast money and quick gains are going to come in the energy sector and probably biotech.
The time to press the precious metal sector is during the next intermediate cycle as that will unfold during the high demand holiday season.
SEGMENT 4-Mr Bruce
Thanks for your service to the country…..A Sliver Star…a Bronze Star…and 2 Purple Hearts…..thanks alot!
Morning Tex
My sentiments exactly!
Big Al
Bobby, that is a real can of worms trying to decide what comes when the US dollar fails,if there are any currency experts out there maybe they should weigh in. I am thinking we could see a World currency backed by gold with a fixed rate and countries would be able to keep their own currency which would be reset on an hourly basis this is possible with computers but how do you prevent illegal printing by one country or another. Will the market be able to decide, I think there should be some discussion on this board about an alternative World Currency Reserve.
I agree, maybe Al could get Jim Rickards.
Fair enough, I will contact him tomorrow.
Big Al
RICHARDS WOULD BE A GOOD CHOICE….
Shawn
Great idea!
BIG AL
Hi Al.
Did you get any reply for the interview request sent at .normeconomics.org?
Just curious.
Btw, why do none of your guess recognize the whole stranglehold the banks have on the planet`s governments is obtain through the fraud of tying every single currency unit to a debt instrument carrying interest payment? Currency is created out of tin air by law, we should not ignore that.
The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity. -Abraham Lincoln
If those who can effect change (and we all can) still at this point do not recognize the banks have created this system to incrementally enslave all, problems will not be resolved for the benefit of the people at large, just the infinite sociopathic minority that controls the currency systems of the world.
A Modest Enquiry into the Nature and Necessity of a Paper-Currency by Benjamin Franklin (1729)
t-party to liberal for me.
@missivedutexas
Check out “the money masters” on u tube by Bill Still.
Pretty much covers everything concerning the topic from the time of julius ceaser
until today.
Maybe Al could get him as a guest again.
Good Morning Missive,
The answer to the first question is nojust And I will try again tomorrow
,
Okay enough for the smart phone back to the computer!
Missive, I will try again tomorrow re: the organization.
If you have not read yesterday’s WSJ, check out the editorial dealing with the gold standard. I would like your opinion of this editorial.
Big Al
YA AL GET BACK TO THE COMPUTER….we are looking for the future ” PICKLE REPORT”
I understand BERNANKE IS looking forward to the report, in order to determine the size
of QE 4 to inject into the system….
Bernanke, also, discussed, stocking the shelves of FT.Knox, with golden pickle bricks,
in order to balance the budget…….after Ron P. told him , that he would be in a pickle
if those shelves were bare…..
Jerry OTB,
Talk about pickle. Look at the latest bleacher report on the Gators. I would include the link but it may not be appropriate for the venue here and don’t want to get anyone upset.
Anyway, anyhow and no matter what: GO GATORS.
ALL SPORTS ARE IN A PICKLE……the “star player” do not belong in college….they belong
in the “hood”….
I always like it when Peter and AL…try to say we have “professional sport”…., no what we have is “professional high way robbery”…..by a few who can run fast and jump high,
and are larger that the average…….smart,?these multimillion dollar players are broke
three years after leaving the league….(70%)The others think they should be given a penion…why can’t they keep their money….lack of common sense…feel sorry …I do not think so…..they now can join the ranks in which they left….and start with getting educated…..
THE RANT FROM THE “PICKLE REPORT”,(AL was busy , so I decided to help him out..)
The WSJ usually wants people to subscribe to their online version to see a full article, thanks to that dear Ruppert.
Anyway, if you have a link to the full article, that would be great.
BTW, for the interview, I did try to contact them in the past and never got a reply either. Not sure what the deal is. You may have a better chance of finding someone by contacting the publisher of “Unforgiven”:
Acres USA – 512-82-4400 – info@acresusa.com
Seen it benb.
I have two legal role models.
One is the fiction Atticus Finch…thank you Haper Lee.
The other is seen here in a 24 minute full legal education http://www.foxnews.com/politics/2012/07/29/scalia-opens-door-for-gun-control-legislation/
The entertainment industry is the result of consumer demand.
If people didn’t watch they wouldn’t produce it for long. Who is responsible for each child plastered to the screen all day? If you aren’t taking care of your child … someone else will. Who defines the moral values you say we’e lost?
Pointing to the ” entertainment industry” is mistaken, point at each individual, each parent. That is where the responsibility lies.
Individual responsibility. Start there.
Morning Pauline,
That is exactly what my wife has said over and over again.
I certainly am not saying that it is just the entertainment industry and I am certainly not saying that personal responsibility is not critical.
Best to you,
Big Al
Pauline there is a two way street.
A classmate has made a significant amount of wealth in the (900) phone number industry years back. He and his wife were proud of their wealth and the elaborate trappings of wealth it purchased. They werein fact miserable people living like most could only dream to live. After awahil I figured it out. With il-gotten gains they had built themselves hell on earth featuring luxuries bought with money sunconsciously they knew were all tainted.
It reminds me of a Twilight Zone- Season 1 Episode 28 A Nice Place to Visit.
That is a great story Dennis M. Shows that we humans realize what the truth really is.
Big Al
Al:
An excellent program as always………….. One further take on Peter Grandich’s wise remarks.
If one has a child with a developmental disability or any disability which would compromise their ability to make a living, it is important to consider a testamentary(set up within the will) special needs trust to insure that any benefits that the child or adult child is legally entitled to are not taken away by a influx of cash, income producing properties, life insurance etc. upon the death of the parent making the will. The child does not take the above properties in his or her name but the trust does and the child is the beneficiary.
An example as to why this is important is in the case where a child of any age is receiving Social Security disability any other financial benefit. If the child were to receive assets directly without such a trust, then the $2000 limit on his or her bank account would be easily reached and the Government could draw down on such assets until they are depleted as an offset and as a condition of receiving any further benefit to which the child is otherwise legally entitled to.
Perhaps Dennis can further elaborate. Fees for a good estate planning attorney are reasonable and essential in the above scenario and other situations to pass on some degree of wealth to such a child to ensure a modicum of economic support. Tax avoidance is permissable, even encouraged under the Internal Revenue Code and one does not have to wealthy to ensure a child’s future.