IMF: Financial analyst Al Martin effectively tells gold shills to take a shill chill pill

[FauxCapitalist]

Source: http://fauxcapitalist.com/2009/11/1...tells-gold-shills-to-take-a-shill-chill-pill/

On Saturday, November 14, 2009, financial analyst Al Martin effectively told gold shills to take a shill chill pill, on Erskine Overnight. In the fourth segment of the first hour, he stated that:

- The IMF gave India a 0% interest-free loan to purchase 200 tons of their 403 metric tons of gold they planned to sell, because they wanted to prevent it from going to market.
- The week before, India announced a huge sale of silver.
- China refused a deal to buy the remaining 203 tons of gold from the IMF.
- China said it’s not a huge buyer of gold.
- New mine production of gold continues to increase.

 

[tmosley]

- The IMF gave India a 0% interest-free loan to purchase 200 tons of their 403 metric tons of gold they planned to sell, because they wanted to prevent it from going to market.

Citation needed.

]- The week before, India announced a huge sale of silver.

Citation needed.

- China refused a deal to buy the remaining 203 tons of gold from the IMF.

Pure speculation. More likely they saw that the bars they had delivered from London were filled with tungsten, and didn't wamt any more.

- China said it’s not a huge buyer of gold.

Outright wrong. China has secretly doubled their gold reserves over the last two years. In fact, they've probably bought even more, they only revealed that they doubled it a few months ago, and have encouraged their citizens to purchase gold and silver.
- New mine production of gold continues to increase.[/QUOTE]

This is just stupid. Only if by "continue to increase", you mean a negative increase, because mining production has been falling for ten years, and is projected to continue falling for the foreseeable future.

 

[hugolp]

Oh, come on. You have to try harder to bullshit properly. China has stated publicy that it is buying gold and it is planning to keep on buying gold.

 

[FauxCapitalist]

I did provide a citation

I provided a citation, down to the exact segment and hour of the show. It's what 25+-year financial analyst, Al Martin, of almartinraw.com said. If anyone wants to email Al Martin and ask him for his sources, please do so, and post them here. Are you one of the gold shills he effectively told to take a chill pill? lol

For interest sake, I'll go digging for the sources regardless of whether I get a response from him myself, or if no one else bothers to look.

 

[dannno]

Oh, come on. You have to try harder to bullshit properly. China has stated publicy that it is buying gold and it is planning to keep on buying gold.

But yesterday the lady on CNBC said that China is going to continue to take on US debt to keep their currency pegged so they can expoooorrtt too the USSSSssss..............WAAAHHHHHHHHHHhhhhhhhhhhhh............wwaahhhhhhh

 

[tmosley]

No, no, we need a primary source showing that any of that is true. Otherwise it's just handwaving. If India sold a bunch of silver, why did they need a 0% interest loan to buy the gold? It doesn't make much sense.

If Al thinks what you put in your summary is true, then he's not worth much as a financial analyst, as he has missed everything that is going on in the gold market, and rather tries to wave his hands and dismiss it.

There is a debate tactic involved here, where one accuses the opposition of doing what he himself is doing. The Soviets did it for decades. Sounds like Al is doing it now. Lets see who signs his paycheck! If he doesn't make money by putting his where his mouth is, I'm not interested in hearing from him.

 

[rayzer]

Ron Paul posted a video about the India gold purchase from the IMF a week ago or more.

 

[FauxCapitalist]

You're right, Dannno

But yesterday the lady on CNBC said that China is going to continue to take on US debt to keep their currency pegged so they can expoooorrtt too the USSSSssss..............WAAAHHHHHHHHHHhhhhhhhhhhhh............wwaahhhhhhh

Dannno, you indirectly bring up an important point with your comment, that just because a financial analyst with years of experience says something is the case, doesn't mean it should be accepted on face value. Extraordinary claims demand extraordinary evidence. As for what that CNBC analyst said, that makes sense to me. Why would China shoot itself in the foot by dumping too many USDs too fast, or slow down their purchase of USDs too fast? Given that they are the number one buyer of U.S. treasuries and are the second largest economy in the world by Purchasing Power Parity, no other country could pick up enough of the slack, to forestall a plunge of the value of their remaining USDs.

 

[FauxCapitalist]

No, no, we need a primary source showing that any of that is true. Otherwise it's just handwaving. If India sold a bunch of silver, why did they need a 0% interest loan to buy the gold? It doesn't make much sense.

If Al thinks what you put in your summary is true, then he's not worth much as a financial analyst, as he has missed everything that is going on in the gold market, and rather tries to wave his hands and dismiss it.

There is a debate tactic involved here, where one accuses the opposition of doing what he himself is doing. The Soviets did it for decades. Sounds like Al is doing it now. Lets see who signs his paycheck! If he doesn't make money by putting his where his mouth is, I'm not interested in hearing from him.

I'll see what I can dig up for primary sources of his claims. I did provide one for his first claim, that I linked to on my article at my blog. Al certainly got fired up during that segment. You could hear him getting hot under the collar when he was making his statements. I have heard him say that he has consistently shorted gold on rallies. The numbers over the past two weeks however, do seem to indicate that he didn't see this recent rally coming. Maybe he lost a bunch of money on his gold shorts lately.

 

[dannno]

Dannno, you indirectly bring up an important point with your comment, that just because a financial analyst with years of experience says something is the case, doesn't mean it should be accepted on face value. Extraordinary claims demand extraordinary evidence. As for what that CNBC analyst said, that makes sense to me. Why would China shoot itself in the foot by dumping too many USDs too fast, or slow down their purchase of USDs too fast? Given that they are the number one buyer of U.S. treasuries and are the second largest economy in the world by Purchasing Power Parity, no other country could pick up enough of the slack, to forestall a plunge of the value of their remaining USDs.

No doubt China is playing it's hand very carefully. I never said they would be getting rid of them quickly, I'm saying they are heading in the other direction, the opposite direction of what is being described in the OP.

The propaganda that is being spouted by CNBC and your guy in the OP is just to reassure US markets so they don't come to a grinding halt, and so that the elite can use their wealth transfer to obtain tungsten free gold as they attempt to pawn off tungsten gold on various governments.

 

[ctiger2]

Anytime I read such and such country is looking to sell Gold or isn't looking to buy anymore you know it's an outright lie. Russia keeps mentioning they want to sell some Gold to push the price down so they can buy more and the traders know this. So, they push the price up up up.

 

[FauxCapitalist]

No, no, we need a primary source showing that any of that is true. Otherwise it's just handwaving. If India sold a bunch of silver, why did they need a 0% interest loan to buy the gold? It doesn't make much sense.

If Al thinks what you put in your summary is true, then he's not worth much as a financial analyst, as he has missed everything that is going on in the gold market, and rather tries to wave his hands and dismiss it.

There is a debate tactic involved here, where one accuses the opposition of doing what he himself is doing. The Soviets did it for decades. Sounds like Al is doing it now. Lets see who signs his paycheck! If he doesn't make money by putting his where his mouth is, I'm not interested in hearing from him.

Who wouldn't want an interest-free loan to buy 200 metric tons of gold, unless you thought that gold would plummet below the purchase price. Martin cited the example of India selling a lot of silver in the week prior to their gold purchase, to illustrate his point that they weren't too keen on buying that gold, since they didn't use the proceeds of the silver sale, but instead were bribed with an interest-free loan to do so. And that goes back to Martin's first claim, as evidence that the IMF is doing what it can to keep that gold off the market.

 

[FauxCapitalist]

No doubt China is playing it's hand very carefully. I never said they would be getting rid of them quickly, I'm saying they are heading in the other direction, the opposite direction of what is being described in the OP.

The propaganda that is being spouted by CNBC and your guy in the OP is just to reassure US markets so they don't come to a grinding halt, and so that the elite can use their wealth transfer to obtain tungsten free gold as they attempt to pawn off tungsten gold on various governments.

I have no evidence to believe that the CNBC analyst and Al Martin are cut from the same cloth. Martin published a book exposing the faux capitalism of the George H.W. Bush regime, and unlike most major news network financial pundits, he openly refers to the "unwashed" who get misled by those same pundits, into running into the latest fad, only to get stuck with the bag once the experienced traders fleece them.

 

[enjerth]

I'll see what I can dig up for primary sources of his claims. I did provide one for his first claim, that I linked to on my article at my blog. Al certainly got fired up during that segment. You could hear him getting hot under the collar when he was making his statements. I have heard him say that he has consistently shorted gold on rallies. The numbers over the past two weeks however, do seem to indicate that he didn't see this recent rally coming. Maybe he lost a bunch of money on his gold shorts lately.

So that's why he's so mad, he's getting slaughtered right now on the gold rally!

 

[Arklatex]

I have a solution, short gold.

Those who like it, buy it.


TadAH!

 

[FauxCapitalist]

lol... Well that's a possibility. I'm sure he probably has managed to minimize any losses in this past week since his interview, but may have lost out during the prior week before his appearance last Saturday, expecting that the rally wouldn't be sustained, as he had been able to count on many times before that, this year. All his claims may prove to be true, regardless.

I can't find a direct email contact for him, so I'll probably have to search for original sources to his claims by myself.