Why you should invest in gold
Hour 1:
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Hour 2:
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Hour 1:
- Segment 1: We open the Show with Sean Brodrick of InvestmentU who discusses the upward movement in gold this past week.
- Segment 2-3: Brien Lundin and Chuck Provini of Natcore Technology and Chris Temple of The National Investor, discuss green energy and Natcore.
- Segment 4: Lawrie Williams founder of the website LawrieOnGold.com chats with us about the roll of China in the gold market.
- Segment 5: Eric Coffin from HRA Advisories chats with us about his outlook on the US markets and gold and gold companies.
- Segment 6: Jeff Pontius, CEO of Corvus Gold, provides an update on the Company from the Casey Conference in Tuscon Arizona.
- Segment 7: Geoge Gero at RBC Wealth Management chats with us about the fundamental and technical factors for gold.
- Segment 8: Axel Merk founder of Merk Investments chats with us about why he is focusing on gold right now.
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Keep in mind here, too, that one objective in this area is to find some new area of securitization, in order to blow more financial bubbles and create a new market/”wealth effect.” So quite possibly, you’ll see new “securities” unfold that supposedly represent carbon credits you can trade. Then even more options/derivatives based on them, etc.
I am in Norwich, England, at this moment.
I sat in on a lecture given by a senior lecturer at the Zuckermann Institute for interconnected Environmental Research a few days ago, and asked a question about the spectral variation of reflectivity of the atmosphere (An area where I know the Climate Change Theory to be flawed) and I have never seen a professor display such an expression of utter panic on their face for several seconds!, before not answering my question.
Maybe they will start to correct their calculations, but I’m not holding my breath.
CFS
Have you seen Cowspiracy??!! Netflix has it.
University of East Anglia in Norwich? Home of the quiz of the week and the alleged dodgy climate change environmental research?
Great input, Professor.
good one CFS…….have a great time in England.
Without the threat of global warming where would these guys get their money. No one is going to pay them to tell you the truth that the world is actually getting colder since 2002, not warmer. And nothing is happening now that hasn’t happened a million times before. In order to keep getting paid they need to manufacture an crisis.
Thanks Professor!
Great Show Big Al & Cory. Every segment was great, but I have always enjoyed hearing from Eric Coffin, George Gero, and Axel Merk.
Thanks for bringing in such a wide array of guests.
Thanks Excelcior!
Gold has made it’s first tag of the 50 week moving average. It would not be unusual for gold to back off and regroup for a week or two before breaking through that resistance level.
http://blog.smartmoneytrackerpremium.com/2015/10/chart-of-the-day-165.html
Craig Hemke of TF metals makes that same argument going over the COT report.
There can be little doubt that The Banks are once again preparing to smash the paper prices of gold and silver. To that end and to spread the word, this podcast has been made a FREE PUBLIC THREAD. Please, I urge you to take the time to listen to this over the weekend.
http://www.tfmetalsreport.com/podcast/7211/tfmr-podcast-friday-october-16
Yep ! Doc will be right.
I suppose we will have a lower low to end this ending diagonal in Gold.
( What is the purpose of doing TA with market like this one)…
THE only reason he will be correct is thru MANIPULATION…………
The TA…….is guided day” trading advice”.
MARKETEDTOFUTURE………………THANKS…………..VERY GOOD…..
Folks gold will just drop down into a normal daily cycle low. The intermediate rally isn’t over. Gold is still climbing the wall of worry.
Gary, why don’t you give us your take on what TURD had to say………thanks and appreciate.
See my comment directly above.
HOW long is an intermediate rally?
The picture is unambiguously in Gary’s favor right now.
http://schrts.co/Yvb0OO
Gold did manage to finish the week above the 40 wk/200 day ma. It’s good to see that the wall of worry is made of bricks.
Hey Matthew
I think the 21.50 area on GDXJ might be the low for this retracement, before the next leg up. I must say, though, I don’t really watch the actual metals much anymore, just my own stocks, GDXJ, and the JNUG/JDST swing trade. I’m not sure it will be worth the effort to open a JDST trade on Monday morning; I’ll probably just wait a week or two and start a JNUG trade on the next leg up. I made 42% on my recent JNUG trade (following Gary and you, with my own DD).
Brian
I forgot to add, this retracement may be shallow compared to the prior.
Way to go, Brian!
I think that’s wise, Brian. Surprises look like they will be to the upside (gold could move down $15 or so to suck in shorts/sellers only to quickly reverse to the upside).
I agree with you about the miners and think that a deeper retracement will start from higher levels.
The action has to be getting some recognition from mainstream investors now that conventional stocks have run into trouble. Given the extreme lack of exposure to this decimated sector, relatively tiny capital flowing in will have a huge impact.
The bias now should be toward buying dips not selling rallies.
http://schrts.co/7j9Fnn
Oh yeah, like Al said, way to go!
Not sure about how the miners will be affected but heed the cot warning if leveraged. There’s a low liquidity smack down waiting in the wings
Brian,
I’m going to suggest that the correction is more likely to be sharp this time than shallow. Gold is in the timing band for the larger intermediate cycle to drop into its half cycle low. That usually means a hard correction. One that shakes almost everyone off before it can bottom.
I’d guess at least a 62% retracement of the rally from 1097 to 1190.
Gary
Thanks for the follow-up; I really do appreciate it.
Interesting that you are using the 61.8% retracement as a guide. I had been playing around with charts with the 38.2% earlier today for my targets.
Regardless, I believe we have entered a new gold bull (or at the very least a test of the upper trend line resistance @ around 1225-1250).
Brian
Good job on the JNUG trade Brian!
Interesting comments from Matthew & Jay & Gary as well. Cheers!
Markedtofuture,
Thanks for the Turd post! He was spot on!
The Black Swan lumming is the naked derivatives when gold drops like a rock. Then the Shanghia exchange takes over pricing and the paper game is Over….
Coming real soon!
http://www.cnbc.com/2015/10/13/black-swan-risk-rises-to-highest-level-ever.html
until the COMEX IS GONE, nothing will change.
Interesting , that some members are leaving the FIX….
FFM-claw,
That’s what the black swan is! It’s COMEX, Glen core , et all derivative and junk bond companies getting their butts kicked by falling metals and oil prices. There is no more collateral to hold the paper……! Get it?
It’s the next Liehman event….!
GOT IT………..appreciate the reply……glad you also see it….I saw it, but thought it was the flying owl, with a black cape……..” Lie- he- man” the owl.
All kidding aside, it should be interesting to see how the Fix plays out.
BTW, what do you think of the new guest, from the comex board, coming on the show?
Good interview with George. The options are going to be interesting to watch next month. All of the derivatives are going to be interesting to watch. The derivative market is about to ” Cross the Rubicon “.
George is a great guest.
thanks for the reply…….yes, it should be……….the claw dawg going long…
That podcast guy sounds unequivocal in his belief that a big drop is going to happen as early as Monday in gold and silver.
Thanks Gary!
Good point about the mini.al amount of capital that has gone into explores stage miners. And yes, eventually the jump will be huge!
China devalued the yuan/renimbi again this week. That sent experienced traders buying the anti-devaluation hedge, precious metals. The suppressors woke up during the buying spree and started pressing their SELL button on the US/UK markets to try and offset this buying. But $16 silver and $1100 gold have now been breached by people trying to protect themselves against worldwide devaluation of all currencies.
That’s really all you needed to know about this week.
And as long as the US Department of Defense classifies all patents with solar panels that get more than 40% efficiency, all efforts to use current “allowed” technology to get higher efficiency on existing solar panels is similar to the CAFE standards on automobile emissions. I.e., a money-waster and time-waster. Force the DoD to declassify and release the higher-efficiency blueprints instead.
The Chinese devaluations are supporting Chinese stock markets. The first devaluation came August 11th and 10 days later stock markets there hit bottom in what I thought was a perfect 3 wave Elliot decline…and then began to bounce back.
We have been talking about yuan devaluation for at least two months. How much yuan has devalued? From 6.24:1 to 6.34:1. Wow , a woppy 1.6%. It is less than Canadian dollar would do in a day. Compared to 50% and 40% by euro, are we making a big deal out of nothing? At least we should talk about euro and yen devaluation far more than yuan devaluation. Am I right?
I agree we should be talking about ALL devaluations, not just yuan. Andy Hoffman has evidence that every time the Japanese Yen falls, gold is suppressed.
Thanks Mr Pace,
I believe we have discussed that before.
SEG 7……….THANKS for having MR. GERO
You are welcome Indy!
interesting the guy is a member of the board……
$1232……….is his number…..is the COMEX BOARD MEMBER……this is the NUMBER.
On October 16, 2015 at 5:10 pm,
RICHARD (DOC) says:
Okay, guys; I have some bad news for you—-the commercials in the COT report for the past week again show the smart money for the third week in a row shorting the PMs rather significantly. For silver, the commercials went net short about 4000 more contracts while for gold, the commercials went net short about 13000 contracts.
With options expiry come and gone you have to wonder whether a Monday morning smack-down is coming.
If not Monday then I suspect an attempt will be tried sometime this week at the very least.
+1 doc. Shorted slv myself last week (keep in mind short interest in slv increased over 61% in Sept and surely more on this run up) and gdx on wed. (Still holding longterm unleveraged positions
There is unbelievable fraud and misrepresentation by companies in Eastern Europe and Africa generating “carbon credits” on European stock exchanges that is it only a matter of time before major scandals occur in this area, which will bring down politicians and their “bogus” companies.
CFS. Show me where there isnt fraud. That will take no time.
Watch “Cowspiracy”. Beef consumption is not helping. The fact the the oceans will dead soon???
TOO MANY GREEDY PEOPLE.
The oceans will be dead soon? Common.
That the oceans soon will be dead is an overstatement Al, but the picture is not pretty at all, from what I know of it. Most fisheries globally have been overfished, coral reefs in many places dying, a floating island of trash in the Pacific the size of a continent. I read an account from someone who sailed the Pacific, something like Australia to Hawaii, sometime after Fukushima, and reported it was like a dead zone, unlike previous trips he had taken. Oh, and then there’s the Gulf of Mexico / BP debacle. What a solution, spraying massive additional amounts of toxic chemicals to make the oil sink out of sight out of mind. I wouldn’t eat seafood from the GoM.
The theory of anthropomorphic climate change is another story. I’m agnostic, because I haven’t investigated it myself. Obviously there is plenty of motive for pulling a scam…
Now I understand what you meant, GH
Another bout of mad cow disease and CJD and that would take care of beef demand.
Almost immediately take care of that demand!
BILL
Your post is one of the silliest that I have ever read on this board. Has it ever dawned on you that the only way a one world system can be implemented is by convincing the masses to rally together against a common foe?
I challenge you to sit back in a comfy chair for the day and try to figure out who the “common foe” actually is. The answer is found in your above post (hidden in plain sight). And no, it is not the COWS or the OCEANS.
BILL
My apologies … I think that I may have read your post incorrectly the first time. I thought you were saying that the oceans are soon going to die off. Looking at it again, I believe it’s something that was brought up in the COWSPIRACY film and not your opinion. Is this correct or do you actually believe that yourself? If the former … Accept my apology. If the latter … I hold to what I said.
The oceans are dying though. That’s not even news anymore. Its maybe the single biggest ecological disaster on the planet today. Why would you even criticize that comment?
Agree whole heartedly Listener.
The way we treat our oceans is just one proof positive we are the stupidest species on the planet.
Something like that bb
A LISTENER
It seems as if he is fearfully convinced that the oceans will be dead in the next few years. I fully understand that pollution exists, but I try to not let my emotions or wild imagination cloud my thinking (override logic). It makes little difference to me if a documentary about cows (which is most likely just another New Age propaganda film like Zeitgeist, Thrive, or the Alex Jones videos) tells me to believe that the “sky is falling,” for I will NOT swallow the bait (not today, not tomorrow). That said, If there are some who choose to allow people they have never met to do their thinking or information gathering for them, then I will certainly not stand in their way, lest I get bowled over by their foolishness.
Good point, Bent nail.
The most important portions of the the ocean and the most at risk are the continental shelves, which support the most life, and thus where our seafood is harvested. Ask the Japanese.
The shelves are also the most directly impacted by pollution from rivers which concentrate toxic runoffs from the land. Theses toxins enter the food pyramid, ultimately ends up in the food we eat. So the ocean hits back just where it hurts, the gut.
Other pollutants kill sea life that feed by filtration. This life provides habitat for food sources and retards erosion, especially during storms.
Pollutants also promote alga blooms that smother beneficial sea life, both what we eat and habitat.
Even so, I’m not sure how CO2 emission play into this. But you can be sure, “out of sight out of mind” using the oceans as bottomless garbage dumps isn’t going to work much longer. It’s a matter of economics more hugging sponges and coral:
Aqua farming (hydroponics) and fish farming (ranching) are just beginning to rise in prominence as wild harvests can’t keep up with demand. ….And that’s where agribusiness will find the most growth in the next century or two.
Another great analysis of the financial situation in China (and, by proxy, the USA) by zerohedge in this article: http://www.zerohedge.com/news/2015-10-17/china-officially-sold-quarter-trillion-treasurys-past-year-unofficially-much-more-an
I’m getting more and more convinced that the total maniacs controlling the US financial system will keep printing $$$ until the 10y TSY implodes (interest rates explode). The ‘rally’ in the conventional markets of the past weeks in my view is the result of criminal manipulation that even a donkey can understand and coupled with the situation in China, could lead to a systemic crash as soon as in 3 weeks.
For those who love technicals: just compare the McClellan indicator (NYMO) with the timeframe from mid-Sept thru mid-Oct last year and see what happened to the S&P. The NYMO just reached an impossible high of 95.45 on Oct.5; if history repeats itself, we could see a rollercoaster in the stock market pretty soon.
Correction: NYMO was 95.45 on Oct.8.
If you had said to any goldbugs in December 2009 when gold hit $1227 that they would be all excited in October 2015 that gold had made it back up to $1190, they would have laughed you offstage at any conference. Yet it is true!
True gold bugs are interesting people, seen’ t they?
Silverbug; that is exactly correct—-every time we get a little rally you’ll have the bugs consistently come out and hype that this time is different and this is when we take off to nirvana. Am I a goldbug—-Yes. However, I like to think I’m a rational goldbug. I’ll be a goldbug until we go back to some standard for currencies to adhere to—then I’ll not be a goldbug any longer. Gold has outperformed the conventional markets for the last 35+ years. I have to snicker when there are those who say you should be diversified and then only recommend you have 5% or less then your portfolio in gold and related stocks—-being a contrarian and the further we move into this cyclical bear market for gold, the more I’ll allocate to the PMs and the stocks. You’ll have to be patient yet but I believe your patience will start to be rewarded by the fall of 2016 and beyond. There is a gradual changing of the guard in the multiple charts I watch and you can just sense the gathering storm clouds for the transition to take place again in the future for the PMs and the commodities. We are now in what I would say is a “bowl” bottoming process and the odds from a technical standpoint is that we start moving slowly out of that bottom in 2016 and 2017.
DOC
Morris Hubbart has a chart that he has been updating for almost a year with a bowl pattern ending in late-2016, early-2017 @ around $1450 gold. NOTE: Morris sees H&S patterns just about everywhere, but that is not the visual focus of the chart)
http://www.321gold.com/editorials/sfs/hubbartt101615/gold_round.png
Brian
THIS is about the same call that Charles Nenner is talking ….at usawatchdog.
I give some weight to both Morris Hubbartt / Superforce Jrs and the Charles Nenner research group as they both have a good grasp on the technicals.
Brian, that was funny about Morris seeing H&S patterns everywhere 🙂 He does….but again, I like his comments on volume spikes, Moving averages, & trend lines as well.
DOC
The point of my post was that this seems to be very similar to your predictions?
Brian
Maybe I was just lucky this month or maybe the stars were aligned and smiling on me but I called a bottom on China A-Shares (the Shanghai) and on copper back on September 24th and the ETF (YINN) is now up 50% in two short weeks.
Copper has also moved a solid 10% since then.
Still looks good too as it has come off a beautiful double bottom so there was no gamble involved. I only mention this because Doc said he was getting ready to short China and I think I might caution against that a for a little longer. Just my opinion of course but there looks to be life in this puppy yet.
You guys might recall that I had a theory both Copper and Chinese A-Shares would rise in conjunction with Premier Xi Jing Ping visit to the US late last month. I said at the time he would not be humiliated by his stock market crashing while he was in the US nor would copper fail sending a negative message on China.
That probably sounded like a bat-crazy theory at the time but copper has indeed rallied very nicely off a bottom I had targeted (it was not a double bottom when I made the call btw….that is only obvious in retrospect) and Chinese stocks have shot up 11% basis the Shanghai Index which is what I usually watch.
So this note is for you Doc. Here is one of the charts I use……check your Bollingers and let me know what you think about it. YINN is a leveraged large cap ETF if you are curious.
YINN — Leveraged Large Cap China ETF.
http://www.nasdaq.com/symbol/yinn/interactive-chart
So there ya go. Gold is not the only thing that was golden during October.
A listener, we were very disappointed in your comment about this being a conspiracy theory site. We all thought you were smarter than that.
Sorry Al but that is a regular theme here. You have made a number of comments yourself supporting the idea that you believe gold and stock markets are manipulated by unknown powers.
As an aside, I did not say this was a conspiracy theory website.
I don’t believe I ever said unknown powers. I said deep pockets that can effectively short and cover at much lower prices. I do believe that. I also said that is simply part of the market as have others.
I rarely read ZH, but I stumbled across this article and read it. The argument FOR the manipulation of gold and silver is actually based on a logical analysis.
“… I wrote some software — as I’m a programmer by training. The program sorted through intraday price data for 9 different futures markets, with the data starting in late 2009 through today, and counted all the 0.5% 1-minute price spikes (either up or down) that happened during non-US non-London trading times. Then, I entered them into a spreadsheet for analysis. Let’s take a look …”
http://www.zerohedge.com/news/2015-10-17/smoking-gun-silver-gold-manipulation-exposed
And its possible to prove that Martians breathe sand and rocks if you are clever with numbers. None of it is useful information. None of it can be traded on. It drives me insane that the conspiracy pundits use this idea as a crutch for every trade that goes South and yet they NEVER just look at the obvious.
Ummm…that virtually ALL commodities have been falling since 2011. It’s not like it is just gold and silver in a decline. This is across the board. I took the time to address this at length in other posts.
Nobody wants to hear. Hosts and guests alike are deaf to the reasoning.
What a complete waste of time. Just more evidence of an agenda in my opinion and it is why my criticism of some people who come to the site is fair, balanced and deserved.
Everyone has his/her opinion Listener. Do you have a problem with that?
Gold is up 70% versus commodities (GNX) and 110% versus oil since June 2014. At its peak in August, gold was up almost 150% versus oil in just over one year.
Commodities are generally very positively correlated with the economy while gold is not.
http://schrts.co/KQLuCR
There you go…no conspiracy to suppress gold. Its all in black and white. In fact, gold is rising versus most other commodities. So maybe this is a suppression scheme that actually pushed gold higher in relative terms…..oh wait….that’s not suppression.
Don’t you agree that “suppression” is simply wealthy entities shorting and covering at lower prices. What does that have to do with conspiracy theories and black helicopters? Am I missing something?
lol, about time I got a laugh again.
Al, I didn’t see Listeners comment about this being a conspiracy site, did you delete it?
Closest I found was the comment that copper wouldn’t break down with the Chinese presidents visit, Listener, would that qualify as manipulation?
Im just buggin you guys, but I got a laugh.
Maybe it was my turn to read things wrong.
Anyway, I have another grandchild comin so went o pick up a silver round that said “happy birthday”.
Again, all you wanted to buy was available, gold and silver, everything except my happy birthday round anyway.
I was looking to diversify some funds and inquired at a credit union, $5 per withrawl
interest was 1.25%
So, on $1000 a person receives 1012.5 after 1 year, but a direct deposit of $1000 a month and withdrawn would be $60, cost of account, the $1000 would end up at aprox
952. Is that a negative interest rate?
Sure, numbers could be played with, but seems nuts not to own gold over currency.
Maybe Im a goldbug.
No, I did not delete it..
Silver rounds. Great idea!
My comment NEVER said this is a “conspiracy theory site” although the aspect of conspiracy is indeed a recurring theme here and it has been that way as long as I have tuned in.
Between Fed suppression schemes, the “Fed has your back” remarks and the “PTB are holding down gold prices” etc, etc……it all gets to be too much. Your friend Gary brings it up in virtually every single interview with zero evidence whatsoever and each day you chime in by saying you agree 100%.
Maybe your agreement is merely tongue in cheek and you don’t mean it at all?
Kind of funny you would be disappointed with a comment that just states the obvious. What I did said was that the only things people here seem interested in talking about is gold, silver and conspiracy. All that means is it looks to me you guys have no interest in discussing any other aspect of hard asset investing or commodity markets (a sponsor thing perhaps?)
Sheesh Al, I thought you were smarter than that.
What does “Fed has your back” have to do with conspiracy? We really need to have a drink sometime!
I guess that’s why I didn’t see it.
Yes, because it does not exist. Nothing more to add.
A.L. – I hardly think you can say there’s “zero evidence” whatsoever. But whatever. I don’t find the theme interesting enough to debate round and round and round. I like Bob M’s point of view: manipulation happens but it should’t be your primary focus; if you don’t think you can roll with the curves it throws you, stay out of that market.
BB – Are you sure of your math? I get 1000 x .0125 = 1012.5 after one year. Withdrawal costs $5. Remainder on each $1000 = 1007.5. In other words, 1.25% return, 0.5% withdrawal cost. Crappy deal, but not as bad as your calcs indicate. Of course, you probably can’t withdraw $1000 in one go, so yeah, the withdrawal fees likely add up to a bit more than the interest.
OK, now you’re talking. Lets have a drink and forget the rest. See you in Vancouver. Beers on me.
Give me a date and a time and I am thete. Guaranteed!
A Listener; I’m watching the Chinese market and looking for a short “potentially” in the next 5-10 trading days. What’ interesting about the YINN ETF is that pricing on a weekly basis took out the 200 week MA—there were multiple weekly closes below the 200 week MA. Now pricing is moving up to challenge that 200 week MA again. Usually when you have a breakdown technically like this, the first time pricing challenges a former support like this it’s not successful and backs off. If you notice, it appears pricing will challenge the 200 week MA in about 2 weeks which would correspond to my 5-10 trading days. I find that to be extremely interesting.
On October 10, 2015 at 1:55 pm,
Matthew says:
Gold has not yet closed above a single June close but silver is telling us that it will.
http://schrts.co/MzXJaS
—————–
Gold was $1155 when I posted that and it is now above some June closes.
Thanks Matthew!
Good call man.
Interesting look at gold guys! Thanks!
The world is Pelosi, therefore, the Schumer is about to hit the fan.
Cute Wayne!
That’s James Wesley, Rawles – Survivalblog.com
GLDX just achieved its first 70+ RSI in 15 months. A quick spike down to the 50 dma and modified Schiff fork (blue) would be a good thing. I say “quick” because that’s how you maximize fear AND avoid or minimize technical damage.
http://schrts.co/HoCHb1
I don’t own GLDX, btw, it’s just an indicator.
Gold priced in commodities (GNX) is sitting at the 2008-09 crisis high.
http://schrts.co/ccwPf6
We are basically back where we were on Monday this week, with a bounce in the $TNX:!PRII indicator, just above the 34-week EMA. What happened after the Monday bounce on the daily and weekly charts was a downdraft in the major indeces and a decline in the $US dollar, and a rise in the gold price on higher volatility. So this is probably what to expect on Monday, since Friday’s close was the bounce that preceded the rally.
If you wanted to draw an analogy between the 2008 decline and up the 2015 decline, it took 7 months to arrive at the low beginning at the peak in March, and wound up back at the high in the new year. In 2015, the peak was in January, and the low was in July. So it should be seeing the previous high at the start of the year, a few months after the low.
Seeing a high volatility event to carry gold forward this month, with a decline in the dollar to its former trading range:
I’ve started building a position to go long volatility using TVIX, and will be adding to it this coming week and next. I also see a high volatility event happening in the near future and affecting the general markets. Things are about to get interesting….
13 weeks left in the Year…..means next week will be unlucky….Unlucky if you own, and unlucky if you don’t. This is my call for the balance of the year, gold below $1300
13 weeks…….$1300
Seg. 7 – George Gero’s words about open interest are very important and on the money.
-Starting at about 5:30
SEE MY COMMENTS above……….
COMEX FIX…………IS $1232…….this will be the CLOSE …FOR SURE.
CAD at fork resistance for second week:
http://schrts.co/opDyp8
It will break out.
Rick Ackerman @ USA Watchdog today in a half hour interview.
http://usawatchdog.com/financial-collapse-to-wipe-away-all-the-lies-rick-ackerman/
OLD NEWS…………..
A listener, if you change your name back to BIRD, ….BIG OWL, will not think you are part of the conspiracy………(just joking)….Hoping your weekend is going good..
I don’t think I can be called Birdman. That name is already taken.
HOW about TWEETY…………..
just messing with you………
OK
But not recently used!
I am sure he’s still hanging out here…..chirp chirp!
Nobody asked you.
Who you talking too?
ARE you sure you are making rice rolls, and not rice wine……….
SDR
Strange to me that nobody talks about the SDR …
It was my understanding that the IMF will have a meeting next month(November)where they will introduce the SDR as the world’s next reserve currency and the Chinese currency is also supposed to be included in the basket or it will be said that the Chinese currency will be included in the basket a year from now. If these events take place it should be bullish for PM’s.
Remember someone said Gold-Backed SDR Is Quite Likely to Happen ?
I can dream … Why bother with old COT report and paper printing 🙂
thanks for mentioning ……great heads up ….on the info…
Gold priced in the HUI peaked in September at nearly 48% higher than its October 2000 peak.
I’m bullish gold against dollars or Dow but downright bearish against gold mining stocks.
http://schrts.co/MgsKZl
ditto on bullish against the dollar……………..
Worth listening. Rickarks seems well-informed … maybe too much !
Jim Rickards, The Gold Chronicles October 2015:
*History of IMF, one of the big 3 Bretton Woods institutions
*The IMF has evolved into its most powerful role ever
*IMF is a functioning world Central Bank
*The Fed has in effect been operating in a 2 year tightening cycle
*China’s reserves are being consumed at a rate of $100B per month stabilizing the currency
*The Fed may easy by mid 2016. Available tools include: Forward guidance, Negative Interest Rates Policy (NIRP), Direct easing (Helicopter money), QE4
*Emerging markets debt crisis, $9.5 Trillion on emerging markets corporate debt denominated in USD
*IMF is warning about declining liquidity in the bond markets and is encouraging governments to take precautionary measures
*IMF: Bond market liquidity could dis-appear instantaneously
*Physical Gold in non-bank storage is one way to protect against what governments might do under conditions of seizing bond markets
*The IMF has a little less than 3000 tons of gold
*IMF gold assets are the third largest holding in the world according to the WGC
*19 Members of the Eurozone combined hold 19,000 tons
*IMF gold was contributed by members joining when it was originally formed
*IMF has not created SDR’s and purchased gold with it
*Gold price required to support world liquidity in this sense would have to be higher than $10,000 per troy oz
*What tools can investors use when it comes to gold in light of potential problems with liquidity
http://www.physicalgoldfund.com/the-gold-chronicles-october-7-2015-interview-with-jim-rickards/
You know he is an insider………….
I would like to be in the same airplane with Christine Lagarde …
… and the US still has more than 8000 t of gold !
Not a 777 I hope!
Yep ! Maybe a Malaysian 777 to go to South Korea to make a speech
with Bernanke.
Anyway…….on a different subject. While all eyes are on Syria the ongoing conflict in Yemen seems to have dropped off the radar except when a wedding gets bombed. I talked to a Yemeni refugee yesterday. He had fled the country recently with wife and children in tow as the entire system broke down and recounted how he had lost absolutely everything.
What he told me came as a surprise as I had not heard it was quite that bad there. He said that there was severe shortages of fuel for example, with a liter of gas selling on the black market in excess of a hundred dollars. All the banks in his area were closed and people were settling debts and trading with whatever fuel they could siphon off abandoned vehicles as cash had all but vanished.
He said the situation had become impossible, that shops were cleaned out. Most of Yemen’s fuel and food needs are imported but currently the ports are blockaded and airports shut down.
He also said all the foreign embassies in the capital were closed as were virtually all government services, the post office and municipal services. Virtually all foreign companies and their employees have fled and abandoned their business. Water has stopped pumping almost everywhere and sewer systems were non-functional as there was no more fuel to power the pumps or generate electricity.
It was, in his words, a complete disaster with major roads closed due to conflict, borders blocked and even the ferry services to nearby Djibouti and Eritrea out of service. He said there was little hope of anyone else escaping or even of entering the country as all transport had ground to a halt.
Phones, water, fuel, the financial system, electrical distribution, sewage treatment and public services are already a thing of better days in the past. It has turned into hell on Earth in his words
Unicef reports there is a major humanitarian disaster in the making.
Yemen Fuel Shortage Putting Children’s Lives at Risk
http://www.voanews.com/content/unicef-yemen-fuel-shortage-putting-childrens-lives-at-risk/2761850.html
I thought this Yemen story worth reporting btw because there is often so much debate about what happens to money when a system or country breaks down. Well here is a real world example and the truth is that what really matters when it all comes unglued is food, water, guns and fuel. I did ask my acquaintance if gold and silver were being used as money and he just looked at me blankly without even registering what I was saying. I didn’t push the question. He was pretty stressed. He did tell me though that he had been fairly wealthy there; that all his money was in the bank and not one single cent could be withdrawn with any bank card from any country including his own. In such a nightmare scenario I have to wonder if anyone here really believes that precious metals would save the day. Incredibly it does all come down to how many chickens you own so that you can still feed your family and how much clean accessible water is on hand. Even the peculiar aspect of gas trading for such outrageous prices is no consolation because if more cannot be imported then eventually all of it will be consumed. You can only wonder what life must be like if all you owned was a condo in downtown Sanaa.
Bicycles.
Of Course!
Thanks Listener – informative and tragic posts. Yemen sounds like something from Cormac O’Connor’s The Road.
A good reminder. Precious metals are a tool that certainly serve a purpose, but not a one-size-fits-all tool.
That Yemeni would certainly be better off, now that he’s out of Yemen, if he had a few gold coins, or if he’d had the foresight to establish a bank account in a stable country other than his own.
I understand your logic, Listener. I simply believe that sooner rather than later a medium of exchange would develop. I happen to also believe that it would be gold and silver. Maybe and maybe not. Logical to me.
Thanks for that insight Listener.
I don’t think I’ve shared this chart before. The relevance of that modified Schiff fork is still surprising to me.
http://schrts.co/bZ1VXQ
What is your take on the meaning……
It is providing significant support/resistance. When the top line support failed in April 2013, buyers came in strong enough to take gold $155 off its low to close that month at the failed support (showing that it was important enough to defend). Sellers then pressed their advantage in May and by the end of June ’13 had forced the price to the next fork support at 1179 -but no further. When that support finally broke in September, 2014, gold fell about 12% then rallied all the way up to back-test the rising support-now resistance line precisely. When resistance there proved to be too much, gold then fell back to the rising parallel support established by the November ’14 low (dashed line). As those familiar with forks know, the odds were against that support holding and strongly favored a test of the lower “median” fork line ever since the failure of support in September, 2014. So, sure enough, we hit that support in July and have retested it in each of the three months since and are now about $75 above it. For it to hold after being tested for four months just adds to its importance.
Conclusion: Bulls do not want to see that support broken.
thanks for the reply……….appreciate your hard work………….j
Gabriel… SDR is just another fiat…..sinclair on his interview on greg hunter called it ‘junk’… it is more political than anything…dont you think..??
Agree Agatha.
Another basket of fiat currencies but this is where they want to go …
SINCLAIR is back out with his warning , he made with usawatchdog….
excuse me Matthew— I did not see any fork…
thanks
Agatha, only subscribers can see monthly charts properly.
Gabriel- then why is it junk….?
Junk because thse are all currencies that a government has declared to be legal tender, but is not backed by a physical commodity.
( well except the US dollar backed by the petro-dollar and military since 1971)
This is a REPOST………..MITSUI …(Japan,Inc)…..Pulling out of LONDON AND NY..FIX…..article at several sights.
sights ….should be sites……
Gabriel.. I inferred if backed by gold (sdr)… then why is it junk..?
something doesn’t equate… sinclair did repeat that interview on his site this week..I don’t know if I could say its a ‘warning’… he pumps gold…
I really doubt that gold will be include in the SDR but China can prepare something after …
http://www.wnd.com/2015/08/china-hoarding-gold-in-move-to-challenge-dollar/
“China must make sure the yuan is included in the SDR before it reveals its true gold holdings,” he concluded. “It would not surprise any analyst if China were to state its reserves topped 15 or even 20 thousand tons. An announcement of reserves near this size would immediately cause gold prices to rise substantially.”
Read more at http://www.wnd.com/2015/08/china-hoarding-gold-in-move-to-challenge-dollar/#bshFiPUlywr1KC3f.99
I really doubt that gold will be include in the SDR but China can prepare something after …
http://www.wnd.com/2015/08/china-hoarding-gold-in-move-to-challenge-dollar/
“China must make sure the yuan is included in the SDR before it reveals its true gold holdings,” he concluded. “It would not surprise any analyst if China were to state its reserves topped 15 or even 20 thousand tons. An announcement of reserves near this size would immediately cause gold prices to rise substantially.”
No snow when the dinos walked the Earth. Now we have snow. Just saying.
Why not after all …
Gold-Backed SDR “Is Quite Likely To Happen”, LSE’s Lord Desai Warns
“Desai pointed out in his paper that there are difficulties when it comes to including gold, because (and I think this is what he was trying to say) none of the SDR’s paper constituents are convertible into gold, but gold’s inclusion in the SDR would make them convertible through the back door. However, Desai seemed keen to re-examine the case for gold.”
https://www.goldmoney.com/our-research/goldmoney-insights/gold-sdr-brics
Good article, Gabriel.
I wonder if gold backed money is still considered to be conspiracy theory on this blog? Most reading this site think fiat money will last forever. Most can’t see the debt train has come to the end of the tracks. Most think the naked paper game will last forever.
( most are wrong, as is natural in the market place..)
A never ending argument, Chartster. I personally would prefer an asset based currency.
Very true, Al. In the last few months it’s become a possibility , and in the last few weeks it’s become a probability. It will be a reality very soon!
GLD Fibonacci fan lines:
http://schrts.co/TodRHF
Big Al
Theres alot of dead zones in the Oceans.
The acidic levels have risen dramaticaly. Fish stocks are 10-20 % of what they were 60 years ago. We use to have salmon boats galore in front of my place. Havent seen on in 25 years. In 20-30 years there will be near nothing left espesially with China eating full speed. Species cannot recover. You would need to give 10 yea lr moratorium in order to begin a recovery. Thats if the different sources of polution lay off.
As for beef i cover alot of land. In BC alone it has pretty much become a cattle pasture.
In reponse to the foe as you said Bentnail. You just have to lower you view a bit and by the size of the gut of ALOT of north american they are clueless and could give a sh$t. Their on target for a hear attack from eating too many burgers. 100 per person anually and sombodies eating 192 because I eat about 8. Lol
So ya right the Oceans are alive and well. 91% of the rain forest is gone for good (Go McDonalds!) and the rest is on the chopping block. Go look up how much CO2 they use to turn into oxygen.
Another thank you to you, Bill.
PS There ard fish farms all around us here and if you enjoy eating Salmon that eat dog food from China. Think about how stupid it is. Incredably labour intensive to raise fish. Huge ners building you have to boat to every day. Packing in tons of food that is manufactured in china filled with things fish normally never eat. Diseased fish fed antibiotics in a small pen raised from frys. They make me gag when I see them at sushi bars.
They say they will feed the world!!!
Versus healthy oceans where you jump in a boat and catch healthy none toxic fish that grew to full size all on their own and caught at minimal cost.
These ahole companies cant make any money this way. Believe you me they prefer dead oceans because that would be a wind fall for them.
Great comments Bill.
Saddly facts Al 🙁
Sorry about da typo. Small device.
CHARLES NENNER …..at usawatchdog…….he’s back………
gold bugs…..can start at 12:00 to 13:55
HOLTER VS. DENT………..comments by Holter concerning Harry Dent’s Low ball call on gold…….@.jdsmineset…
why pay attention to dent in the first place…..
Not really sure, Agatha.
Agatha, I do not pay attention to DENT, but, some think he is a guru, on the deflation side……I think Holter makes some great points.
NENNER is a better listen to……..concerning the end of year call , and markets into 2017
Nenner sees….. DOLLAR WEAK, EURO STRONG………
Agatha
Dent made a good call decades ago and is still trying to emulate it. Hes got a horrible track record as do most talking heads out there.
Thanks Frank: Forget about the Blood Moon….: Dave Hodges also well worth a listen on SGT.
http://www.thecommonsenseshow.com/siteupload/2015/01/preppers.jpg
thanks Andy,…..
nenner same thing…. I just don’t get why jsmineset took him seriously (dent) Holter is naive imo…too much fear…hes repetitive…
Agatha, did you read the article?
Did you listen to Nenner?
yes, I read Holter… Nenner I do not anymore-
thanks for the reply………
GAME TIME…………up or down……………
No time to look right now Frank. There is a little Vietnamese lady here trying to teach me how to make home-made rice paper for Spring Rolls. Way too complicated for a recipe that only requires rice flour and water. Now I get why nobody does this at home.
So is gold up or down? (I just can’t stand to look).
only off, .70cents……was down $1.50…., I am more interested when HONG KONG gets started…..
THIS is a change………..HONG KONG DOWN………….LONDON UP……….approximately the same amount……..
LONDON DOWN………..NY NEXT
UGLY MONDAY……..or Semi ugly…..Mondays are generally a give back, then it’s off to FRIDAY……Last Friday is a surprise, that is did not hold , which goes to show, if it can not hold FRIDAY, …Monday will not look much better……………….JMHO.
I think RICK A., ,,,mentioned, look for the small charts for some direction.
Birdman?????
must be a” conspiracy” in theory…….
Question for someone……..Is platinum price set in Zurich, in lieu of London?
Check out Walt Street Raw and King World News.
200 DMA?
New figures from China shows that the economy slowed in the last quarter – slowest since 2009.
As my friends in china was talking about, the real figure might be only 4.9% GDP growth according to private estimate. Just nobody knows. Statistics is political.
Gabriel… the impt news imo is that china is setting up an exchange to pay for oil w the yuan in November I think it is..
Patience.
Gold stays cheap until the Comex breaks. The reason for gold’s low price has to do with the amount of derivatives creating synthetic supply of gold.
This chart illustrates how this 4th “bear market rally” might be different (ref: Gary’s wall of worry), especially if we can delay the time it takes to get to the upper TL.
http://goldtadise.com/wp-content/uploads/2015/10/gold-18.png
Here is this chart (again) from the nice people @ Goldtent TA Paradise, that shows a possible trajectory of this rally … retest of GDX @ $15, then up to $19.
Thanks Brian!
Read the volumes Charles Savoie has archived on metals suppression.
Anybody that believes metals are not manipulated has not read history.
There is no anthropogenic global warming, as many geophysicists have proven.
However, there is so much tax revenue available via Crbon tax that pooliticians will NEVER agree carbon dioxide concentration has a minimal effect on global temperature.
The carbon tax instituted by the UK a couple of years ago now causes electricity to be 30% more expensive than continental Europe, and is currently wiping out the steel industry in the UK, as well as bleeding the general public.