AGORACOM Chief Commentator and my great friend, Peter Grandich, was once again a guest on BNN Friday. This time he was on “Market Call” with Howard Green at 1PM EST. There is a reason why Peter is a frequent guest on BNN (and almost every major financial media) – he is eerily uncannily right about the markets. More importantly, he always provides a firm opinion and never hedges his best by playing the “ying-yang” game that so many commentators like to do.
You can view the 1st half of his appearance by clicking on the image above. In the clip, he discusses the following:
- US markets face a “mini melt-up” from fund managers chasing the markets
- 10,500 on the Dow is very possible and would use it as another opportunity to short the market
- Most bullish on gold than at any time in the past 25 years
- Chinese openly telling citizens to buy gold, not US Treasuries
- Germany’s Bundesbank will refrain from big gold sales in the first year of a new central bank gold sales agreement
- Gold has performed equally well during periods of deflation. Inflation connection is a misnomer
- Responded to question regarding Timmins Gold (Grandich Posts) (AGORACOM HUB)
- Responded to question regarding Crescent Resources (Grandich Posts) (AGORACOM HUB)
- Responded to question regarding Formation Capital (Grandich Posts) (AGORACOM HUB)
- Responded to question regarding Eastmain Resources (Grandich Posts) (AGORACOM HUB)
- Responded to question regarding “sleeper metal of 2010″
- Discussing (lack of) effectiveness of Obama Administration
- Responded to question regarding vale of diamonds
Peter then went on to discuss his top picks, which BNN posted as a separate clip that you can view here. He discussed:
- ATW (Grandich Posts) (AGORACOM HUB)
- Natural Gas
- Pro Shares Ultra Short Treasuries ETF
- Evolving Gold (Grandich Posts) (AGORACOM HUB)
- Continental Minerals (Grandich Posts) (AGORACOM HUB)
BNN went over some of Peter’s past picks, which are up over 80% on average. In fairness, Northern Dynasty made up the majority of that number but all 3 of his picks were solidly up … try finding that kind of performance from other commentators and money managers.
Regards,
George
Good job on Market Call.
Although I hear that Joe Frazier is going to take you up on your challenge.
peter, Mac Faber had said in his previous interview that Gold probably had false breakout and it is likely to fall up to $920. Whats your call on this?
Thank you Peter for your example and valuable insight .
Peter you looked good….much younger without the furry lip.
Peter’s top picks were TBT, EVG and KMK. Interesting that Brent Cook on BNN, the editor of Exploration Insights also chose EVG as a top pick. http://watch.bnn.ca/#clip217426
Most of us can certainly understand Peter’s thoughts on TBT, and I do own some as well. The concern I have in the short to intermediate term, however, is another possible deflationary event this fall with USD up, stock market down, and bond price up. That may be starting already, as TLT appears to be breaking out to the upside.
achtung kamarade gold to 930 aufwiedersehen
This morning around 6:15 Tout TV had two commentators on. One was a gentleman whose name I missed but was the head of Rady Assets. He indicted that he thought stocks were way over valued as well as Treasuries. For what its worth, he said they are short around 45% of their investments which is about as high as they can go and has also bought TBT which was one of Peter’s picks I believe on BNN.
Gold & gold manipulation – I like gold but do worry about fighting all the big powerful gold manipulators if you think there is any truth to the conspirator’s theory…..which seems more and more plausible. See the article below. Would be interested in what other gold bulls think about this situation.
Yikes! On CNBC: ‘When you own gold, you’re fighting every central bank’
Submitted by cpowell on Sun, 2009-09-27 14:26. Section: Daily Dispatches
10:23a ET Sunday, September 27, 2009
Dear Friend of GATA and Gold:
On Friday CNBC broadcast a remarkable six-minute interview with Jim Rickards, director of market intelligence for McLean, Virginia-based consulting firm Omnis (http://www.omnisinc.com/leadership.php#Rickards).
Rickards was asked to analyze an essay published in Friday’s Wall Street Journal by Fed Governor Kevin M. Warsh (yes, the Fed governor who this month acknowledged to GATA that the Fed is concealing records of its gold swap arrangements with foreign banks). That essay can be found here:
http://online.wsj.com/article/SB1000142405297020448830457443304105833413...
Rickards construed Warsh’s essay to mean that the Fed will be seeking to regulate the gold price closely even as the Fed needs to devalue the dollar by about half over the next 14 years to restore solvency to the United States.
The purpose of the Fed, Rickards remarked, is to inflate the dollar to prop up the banks; claims that the Fed’s purpose is to achieve “price stability” are manifestly nonsense. Central bankers, he added, now plan to turn the International Monetary Fund’s Special Drawing Rights into the new world reserve currency replacing the dollar, a new round of money printing to create some stability in the world financial system during the dollar’s steady but gradual and controlled devaluation.
Rickards said he expects gold to go to $2,000 but added, “When you own gold you’re fighting every central bank in the world.”
Of course you’ve been hearing such things from GATA for some time, even as GATA hasn’t been invited on to CNBC since Chairman Bill Murphy’s appearance there in early 1999, so we will be offering Rickards a position as our director of tinfoil hats. You can watch his interview at the CNBC archive here:
http://www.cnbc.com/id/15840232?video=1275511738&play=1
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
To the Agoracom community:
Where can I get this week’s Friday show with George and Peter that took place on Saturday from the floor of the Cambridge Conference in Toronto?? I have asked several places on this and George’s blog but got no answer. Thanks!
Robert C.
Gold may be harder to come by if Chavez has anything to say about it. Note the following article whereby Chavez is proposing that Africa ands S. America come up with a mining firm to own gold.
http://www.miningweekly.com/article/chavez-proposes-africa-south-america-mining-firm-2009-09-28