- Mugwump - $6300 Gold --
ballgame, 21:03:22 11/19/09 Thu
Didn't Sinclair use the same basis for his initial calulation of $1650 now several years old? That would mean 3.8X more dollars (as of hours ago) and by the time the next president is sworn in POG >$10K/oz waahoo!.
[Edit]
- BHP / RIO Iron Ore JV .. -- Delta-au (), 21:00:05 11/19/09 Thu
Re-cap: On 5th June, 2009, in conjunction with the withdrawal of the US$19.5B asset sale and convertible bond deal with Chinalco, RIO announced a US$15.2B rights issue coupled with the signing of a non-binding agreement with BHP to form a production joint venture of the two companies’ WA iron ore businesses, to be known as the Pilbara Iron Ore Joint Venture. Whilst complex in detail (perhaps more than both initially thought) in simple terms, it is proposed that the two Pilbara iron ore businesses will be combined in a 50/50 production JV, with a US$5.8B cash equalization payment (subject to adjustments for capex commitments incurred in the time it takes for the agreement to become implemented) due to be made by BHP to RIO to achieve equalization from a valuation starting point of 55% RIO / 45% BHP. This implies an enterprise value of the combined entity of US$116B. In addition, both companies agreed and published a total NPV synergy of at least US$10B. Once the binding agreement is signed, formal submissions can be made to the European Anti-trust commission (the most problematic), et al. The companies are targeting Implementation by mid calendar 2010.
Both companies are committed to this merger, in spite of press speculation otherwise: There has been press speculation (“The Australian” Nov 19) that RIO is not 100% committed to this deal, largely based on a view that the US$15.2B equity raising, together with the US$7B asset sales in 2009, has raised sufficient cash to repair the balance sheet post Alcan acquisition and so they are not desperate for any more cash, and that the US$5.8B equalization payment is insufficient to compensate RIO for the loss of control of their - as is generally accepted - superior iron ore mining/rail/port production system.
no link ..
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[Edit]
- feck gold -- mudturtle, 21:00:32 11/19/09 Thu
when I was ragging about how cheap rhodium got in November 2008 it was around 800. It is now 2450. I'll never get that chance ever again. Oh, and feck Hereaus NY office.
[Edit]
- deepbreather...........I'm hearing $250K for a get out of -- BUFFORD -- Deepbreather, 20:58:45 11/19/09 Thu
Who ya hearin' from...Glen Beck?
[Edit]
- deepbreather...........I'm hearing $250K for a get out of -- BUFFORD, 20:45:18 11/19/09 Thu
jail card in PC.........
http://www.panama-guide.com/article.php?story=20091112085350978&query=grossi%2Babrams
[Edit]
- This would be a much nicer place . . . -- kaboodle, -- kapex, 20:40:10 11/19/09 Thu
But then the disinformation artists wouldn't get to take up the space that they do and have for so very long.
Thus...
Crowding out the real and good information that gets posted.
I posted something a couple weeks ago and it was immediately responded to in a way so as to obfuscate the meat of the message and turn it into politics and entitlements...............Huh!
You would be surprised at the number of disinfo artists that came over from the kitco forum.
LOL
But your point is well taken.
Cheers!
[Edit]
- -- -- Winston, 20:10:42 11/19/09 Thu
New GEAB Leap bulletin
http://www.leap2020.eu/English_r25.html
[Edit]
- well .. -- Delta-au, 20:00:02 11/19/09 Thu
just used my own research ..
bort MML @ 4.28 ..
..
[Edit]
- Gray gold -- no not tongue-stun -- Deepbreather, 19:59:40 11/19/09 Thu
http://www.thepanamanews.com/pn/v_15/issue_17/economy_03.html
[Edit]
- New currency margin requirements -- Deepbreather (), 19:20:58 11/19/09 Thu
http://blogs.fxstreet.com/francesc/2009/11/02/forexcom-applies-new-margin-requirements-one-week-earlier-too/
By the end of the month, those U.S. investors and hedge funds who are trading currencies must use a greater dollar amount of margin for each contract. Hmmmm, now what will this do to the carry trade.
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[Edit]
- Paul-Grayson Amendment To Audit The Fed Passes Overwhelmingly By 43-26 -- Earl, 19:44:32 11/19/09 Thu
[Edit]
- yer right .. kaboodle .. -- Delta-au, 19:41:48 11/19/09 Thu
I apologise to the Board ..
[Edit]
- glodcoaster .. -- Delta-au (), 19:16:47 11/19/09 Thu
one that comes to mind that I heard of a while ago ..
MML
- copper & gold
- phillipines = some soverign risk ..
- great assets / long life ..
- Good mngmt ..
- 60,000 oz pa..
- projects in train for increased production to 100,000 in 1stQtr 2010 ..
- debt free, no hedging ..
- top 20 shareholders own 71%
- listed on ASX and AIM ... will list on TSE soon
- watch share dilution .. from 35 mm in 2003 .. to 170 mm 2009
and .. their SP outperforming ..
November 2009 Presentation ..
http://www.medusamining.com.au/newsroom/asx/091118_presentation_agm.pdf
Anyone else got a bead on these guys ?
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[Edit]
- This would be a much nicer place . . . -- kaboodle, 19:29:39 11/19/09 Thu
if people would refrain from responding to RIP, skinee, and several other folks.
[Edit]
- Ed Young chimes in on the gold options expriations -- BUFFORD, 19:27:41 11/19/09 Thu
next week .............could get interesting
28 mins in
http://www.tigeruniversity.com/mp3/TOS111909.mp3
[Edit]
- faloffal .. -- Delta-au, 19:20:59 11/19/09 Thu
thx ..
[Edit]
- gawd that's funny .. -- Delta-au, 19:18:02 11/19/09 Thu
18:46:25 .. thx dev ..
[Edit]
- delta -- faloffal, 19:07:24 11/19/09 Thu
I would think so
yes, a positive correlation between wealth and medal count. Wealth broadly defined to factor the various political flavours that create 'the wealth'
colonialism
communism/capitalism
democracy
confucianism
[Edit]
- nuke .. he's ALWAYS right .. -- Delta-au, 18:55:27 11/19/09 Thu
doncha know ?
AFAIK .. only his own mom ... or maybe morbius .. luvs him ..
[Edit]
- got my obama rounds from Mom Hommel -- Nuclearson, 18:55:06 11/19/09 Thu
kinda pretty in their own little way
though I doubt they will be worth a premium with his mug on the obverse...
I plan on giving some for christmas presents
as sort of a backhanded gag gift
[Edit]
- faloffal .. -- Delta-au, 18:54:16 11/19/09 Thu
what I meant earlier { before the speed bag workout} .. was
is there a correlation between national wealth and national
olympic medal tallies over a hunnerd years or so ..
absolute levels of national wealth ?
or ..
increasing or decreasing national wealth ?
..
Just curiosity ..
[Edit]
- poor RIP sits and stews and throws turds at the charts -- Nuclearson, 18:50:03 11/19/09 Thu
as gold rises...
even though he was wrong, he is right!
[Edit]
- - -- faloffal, 18:48:51 11/19/09 Thu
delta
irrational numbers ... R infinite.
don Juan Matus, among others, suggests 'infinity' is the toughest nut to crack, drove the Pythagoreans over the edge.
examples of irrational numbers:
2 squared
Pi r
[Edit]
- Delta-au____vs___RIP -- LilDevil (), 18:46:25 11/19/09 Thu
.
http://www.youtube.com/watch?v=mivlUWoWAIA
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[Edit]
- and I haven't even focussed on his last statement .. yet .. -- Delta-au (), 18:33:48 11/19/09 Thu
so here goes .. another corker from the Toronto Tonsil ..
---------------------------------------------
Last thing -- RIP, 18:01:50 11/19/09 Thu
All companies have assets.
It's the liabilities that really matter.
---------------------------------------------
Edit --- I'm ASSuming he means Liabilities exceed {REAL} Assets --- end of edit ..
Gosh .. is that WHY Lehman Failed ?
Well, err ... let me respond ..
NO .. it isn't ..
that is what we call the EFFECT .. the OUTCOME ..
So he still has NO CLUE .. WHY Lehman Failed (the CAUSE) ..
Talk about a mouth !
---------------------------------------------
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[Edit]
- well .. -- Delta-au, 18:28:25 11/19/09 Thu
Im betting that his "homework" tonight consists of googling why Lehman fell .. that is - after mommy gets his dinner ..
So can PRETEND tomorrow that he knew the answer all along ..
Gawd what an imposter ..
..
[Edit]
- The curious dynamics of the ASX..... -- The_Vet (), 18:25:11 11/19/09 Thu
Without fail the ASX continues to follow the North American market like a lost puppy and this creates a curious market dynamic because unlike the US market the Aussie market is resource heavy.
So while gold is up comfortably around 0.9% in AUD, the majority of the Aussie gold miners initially open flat or down slightly while the overall market is down about 1.4%..
This tendency has been even more noticable recently probably because more US dollars from the carry trade has infiltrated the ASX market but that "hot money" mainly buys index following funds and a small selection of senior stocks. That North American money slavishly follows the DOW and ignores fundamentals.
However the Aussie juniors fly under their radar so stocks like NQM, SLW and the GOLD etf, hold or even gain in these situations.
The bigger miners will probably recover during the day when the penny drops, but those big offshore traders are pretty slow thinkers...
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[Edit]
- well, it must be MINUS 60 in Toronto tonight .. -- Delta-au, 18:25:30 11/19/09 Thu
It will be one frosty day in hell when I duck from your nonsense. -- RIP, 17:14:38
--------------------------------------------------------------
Simply Pathetic ..
He disses my post on Lehman ..
PRETENDING he knows what brought 'em down ..
Then when his bluff is called .. he CANNOT deliver
That must be the ULTIMATE NEKKID SHORT .. rotflmao ..
..
[Edit]
- US official gold -- mudturtle, 18:20:58 11/19/09 Thu
by jefftheshark
on Thu, 11/19/2009 - 17:57
#136491
I believe that in 1963 there was an attempt to irradiate our entire supply of gold with a small atomic weapon, and that this plot was only thwarted by the amazing efforts of a single member of British Intelligence. Soon after that, Nixon took us off the gold standard because he didn't want America to be at the mercy of such international criminals again. In his own prescient way, Nixon could see that you didn't want to use anything whose value could so easily be destroyed used as the basis for a country's wealth.
Thus, it is easy to see why all of our gold in Fort Knox was secretly replaced by gold-painted lead bars and then sold off to China in exchange for Darth Vader keyrings and "I'm With Stupid ===>" T-shirts.
[Edit]
- - -- faloffal, 18:19:43 11/19/09 Thu
Khrushchev's Secret Speech, February 25, 1956
http://www.fordham.edu/halsall/mod/1956khrushchev-secret1.html
Castro regime may be getting the 'Khrushchev speach treatment' if that Cuban blogger gets any more attention..
[Edit]
- For RIPetitive and m00nzel -- LilDevil, 18:12:46 11/19/09 Thu
.
.
Today in NASA History: Apollo 12 Lands in Oceanus Procellarum on the Moon .
http://www.nasa.gov/mission_pages/apollo/missions/apollo12.html
[Edit]
- Societe General sees gold at $6300 -- mugwump, 18:12:20 11/19/09 Thu
The latest call for gold prices... $6,300 an ounce. And this prediction didn't come from a newsletter writer or a crazed libertarian pundit. It came from Dylan Grice, an analyst with the French investment bank, Societe Generale. Grice says, as we well know, investors are buying gold to protect themselves from a decline in the dollar because they don't trust the Federal Reserve... The U.S. government has already begun monetizing its debt and will likely keep rates near zero for years. And where does Grice get $6,300?
The U.S. owns nearly 263 million troy ounces of gold (the world's biggest holder) while the Fed's monetary base is $1.7 trillion. So the price of gold at which the U.S. dollar would be fully gold-backed is currently around $6,300. Gold is very cheap – at current prices, the USD is only 15 percent gold-backed.
[Edit]
- ahh .. -- Delta-au, 18:11:43 11/19/09 Thu
Rip now admits that Lehman DID HAVE REAL ASSETS ..
----------------------------------------------------
Lehman collapsed for the same reason even GS needed TARP funds -- RIP, 17:12:43 11/19/09 Thu
It's called no real assets.
----------------------------------------------------
----------------------------------------------------
----------------------------------------------------
OK, Rip ..
Now that we have the LIE outta the way ..
Back to the FIRST Question ..
If you don't know why Lehman collapsed... -- Delta-au, 17:02:37 11/19/09 Thu
ok brainbox, YOU tell us why ..
We're all ears ..
YOU have the floor ..
Let's have it ..
----------------------------------------------------
What caused the Lehman implosion?
----------------------------------------------------
[Edit]
- RIP @ see ya -- Miro, 18:05:02 11/19/09 Thu
Good, I hope you stop spreading a stench oh so frequently like every 10 minutes.
You are a gutter boy of this board ... yes, you stink
[Edit]
- gold holdings by state and value -- 2bro2b, 18:02:58 11/19/09 Thu
Absent from the list is the impressive GLD 1000 ton hoard now sliding in at #6 between China and France.
Given the ease of keyboards one wonders if the
stickiness that is typical of private bullion holdings in
times past applies to the ETF form of holding bullion.
From strong to weaker, nervous hands with pudgy little
busy fingers? Gold is so cool it's hot....money.
[Edit]
- Last thing -- RIP, 18:01:50 11/19/09 Thu
All companies have assets.
It's the liabilities that really matter.
Ask AIG.
bbl.
And I mean it.
[Edit]
- obama rating falls below 50% -- mugwump, 18:01:35 11/19/09 Thu
http://www.bloomberg.com/apps/news?pid=20601087&sid=auhyY3ttpnA4&pos=9
[Edit]
- now you go running fer cover .. -- Delta-au, 18:00:49 11/19/09 Thu
using the miro post as yer excuse ..
pathetic .. we can see RIGHT thru you ..
Get it ?
RIGHT thru you ..
RIGHT thru you ..
RIGHT thru you ..
..
[Edit]
- that's ok rip .. -- Delta-au, 17:58:46 11/19/09 Thu
I'll raise it again tomorrow ..
and the market day after ..
and again .. and on and on ..
until you admit that Lehman had REAL assets at the time of implosion ..
[Edit]
- Commie Delta....and Stasi Miro -- RIP, 17:56:48 11/19/09 Thu
That's a tag team I can't beat.
See ya.
[Edit]
- .. -- Delta-au, 17:54:38 11/19/09 Thu
RIP @ "They sure as hell did not (HAVE REAL ASSETS) one year ago."
THAT IS A LIE ..
[Edit]
- Is that RIPe kid still around? -- Miro, 17:54:12 11/19/09 Thu
Hey RIP do one more fart, it's so funny when you spread your "cheeks" and let it rip in one big fart, as that's all what you post.
It's funny how serious folks don't talk so much but you keep going with your nonsense ... fart away RIP
[Edit]
- Delta demonstrates his ignorance of immediate mark to market. -- RIP (), 17:52:48 11/19/09 Thu
What else is new?
Commies live on a promise.
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[Edit]
- if yer inna hole .. -- Delta-au, 17:51:15 11/19/09 Thu
the FIRST thing to do ..
is ..
STOP DIGGING ..
[Edit]
- With an updated list of gold holdings by state and value converted to present POG -- Earl, 17:50:31 11/19/09 Thu
Gold Holdings By Country
We present another datapoint for the ultimately futile debate of what the true value of gold is, this one coming from the IMF's International Financial Statistics data. On the attached chart you can see the gold holdings in tonnes of the top 10 holders of gold in the world. Not surprisingly, the US is #1 with over eight thousand tonnes of official holdings. Following the US are Germany, the IMF, Italy and France.
http://www.zerohedge.com/article/gold-holdings-country
[Edit]
- rip demonstartes his [failed] understanding of Balance Sheets .. -- Delta-au, 17:50:16 11/19/09 Thu
WOW .. are you an accountant ?
Honk ..
[Edit]
- - -- faloffal, 17:49:44 11/19/09 Thu
the next three month in Grade Three
http://www.edhelper.com/math/math_grade3_review_3.htm
they teach the kids to count with "pennies, nickels, dimes and quarters"
[Edit]
- LEH might have had real assets now. -- RIP, 17:47:14 11/19/09 Thu
They sure as hell did not one year ago.
And neither did C, BAC or GS.
Senility?
[Edit]
- well rip .. -- Delta-au, 17:42:45 11/19/09 Thu
I say Lehman DID have REAL assets ..
Tell me if I'm wrong .. we're all ears ..
..
[Edit]
- Jim Puplava Q3 2009 13F Holdings Spreadsheet -- 2bro2b, 17:40:47 11/19/09 Thu
http://www.enlightened-american.com/wealth/reports/puplava_inv_2009_Q3.htm
[Edit]
- @now go git yer dinner -- RIP, 17:39:50 11/19/09 Thu
A response like that could only come from an egotistical ass...or someone who knows they are mistaken.
I'll leave it to others.
[Edit]
- hottest tip .. -- Delta-au, 17:39:21 11/19/09 Thu
sorry ,, dooone have a hottest tip at the moment ..
[check with rippee, he knows it ALL .. ]
..
[Edit]
- Delta au: Wots your hot gold/metal stock tips? -- GlodCoaster, 17:36:53 11/19/09 Thu
Waddaya think of Buccaneer - that was one hot tip going around yesterday.
[Edit]
- now go git yer dinner .. -- Delta-au (), 17:34:57 11/19/09 Thu
i can hear yer mommy callin' again ..
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[Edit]
- .. -- Delta-au, 17:34:23 11/19/09 Thu
always with the duck and cover ..
or attempts to belittle others ..
yer nuthin but an pathetic internet bully ..
as has been shown here time after time ..
if you seriously doubt it .. (and I'm SURE you do)
take a look at today's "collection" @ 16:11:35 ..
[Edit]
- Wall Street Plays Hardball -- doran, 17:30:53 11/19/09 Thu
Taxpayers are taking another hit as strapped local governments fork over billions in fees on investments gone bad
http://www.businessweek.com/magazine/content/09_48/b4157034230199.htm
[Edit]
- OK,,,,,,naked shorts did it -- RIP, 17:29:40 11/19/09 Thu
If it makes sense to you....then I give.
It's hopeless.
[Edit]
- absolute rubbish .. from the supposed voy gooroo .. -- Delta-au, 17:29:12 11/19/09 Thu
they had real assets all right ..
Honk .. Try again ..
[Edit]
- - -- faloffal, 17:28:55 11/19/09 Thu
http://www.edhelper.com/math/math_grade3_review_2.htm
They teachin' Stock Buying to kids in Grade three
[Edit]
- U.K. Royal Mint Quadruples Production of Gold Coins -- doran, 17:27:55 11/19/09 Thu
http://www.bloomberg.com/apps/news?pid=20603037&sid=ajSyUvek1EtE
[Edit]
- c'mon rip .. -- Delta-au, 17:27:09 11/19/09 Thu
Yer latest response is just another duck for cover ..
C'mon - spell it out DIRECTLY ..
what caused the collapse of Lehman ?
[Edit]
- Delta.....read my 17:12 veeerrry slllooowwly -- RIP, 17:26:29 11/19/09 Thu
It's called NO real assets.
[Edit]
- I can't wait to see what Sydney does to POG -- RIP (), 17:21:08 11/19/09 Thu
lol
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[Edit]
- gawd what a pathetic response -- Delta-au, 17:20:20 11/19/09 Thu
Lehman collapsed for the same reason even GS needed TARP funds -- RIP, 17:12:43
---------------------------------------------------------
Yer response is just another duck for cover ..
C'mon - spell it out DIRECTLY ..
what caused the collapse of Lehman ?
[Edit]
- See Y'all -- Sherlock, 17:18:52 11/19/09 Thu
BBTMANO (Be back tomorrow morning at nine o'clock)...http://www.youtube.com/watch?v=5f9V9C1es-0&feature=related
[Edit]
- - -- faloffal, 17:14:52 11/19/09 Thu
52 deaths in two days
iz it ok to panique?
fwiw, I think the worst is over, and we go down for a 'breather' until after New Years. Then we get the third wave up, which, unsurprisingly, appears to line up with 1959 in TimeWave, with all the excitement of starving to death in China.
further, fwiw, in Suez 1956, there was a considerable number of Israelis that had the 'flu' during this amazing Gong Show/War
BBC link, October 1, 1957 Asian Flu Vaccine
http://news.bbc.co.uk/onthisday/hi/dates/stories/october/1/newsid_3086000/3086843.stm
so, if I was to look at this Flu thing I would say we get somekind of morphism around new Year, but the big die off may be something other than flu..
[Edit]
- It will be one frosty day in hell when I duck from your nonsense. -- RIP, 17:14:38 11/19/09 Thu
[Edit]
- Lehman collapsed for the same reason even GS needed TARP funds -- RIP, 17:12:43 11/19/09 Thu
Can you wrap your mind around that, brainiac?
It's called no real assets.
[Edit]
- on dreary days... -- nogtans, 17:06:29 11/19/09 Thu
A guy wakes up in the morning. He has a massive hangover and can't
remember anything he did last night. He picks up his dressing
gown from the floor and puts it on. He notices there's something in one
of the pockets and it turns out to be a bra. He thinks to himself, "Uh oh.
What happened last night?"
He walks towards the bathroom and finds a panty in the
other pocket of his gown. Again he thinks, "What happened last night.
What have I done? It must have been a wild party," making his best
attempt to conclude and accept the evidence.
He opens the bathroom door, walks in and has a look in
the mirror. He notices a little string hanging out of
his mouth and his only thought is, "If there's a God,
please let this be a tea bag."
[Edit]
- - -- faloffal, 17:05:42 11/19/09 Thu
I'm a little surprised to see the flu deaths up like that in Alberta.
How many Alberta's thot 'let's get outta here and head south for a few weeks while this 'flu' is getting stronger'?
and now they're in Mazatlan or Cozumel or wherever, it's 32 degrees C, and they got a little tightness in their chest?
[Edit]
- If you don't know why Lehman collapsed... -- Delta-au, 17:02:37 11/19/09 Thu
ok brainbox, YOU tell us why ..
We're all ears ..
YOU have the floor ..
Let's have it ..
(I'm betting he DUCKS fer cover .. )
[Edit]
- - -- faloffal, 17:00:52 11/19/09 Thu
flu update, deaths in Canada
last 2 days, November 18-19
= 52 (22 in Alberta)
November 12-17
= 37
November 10-12
= 26
November 5-10
= 20
[Edit]
- Naked shorting IS immoral -- RIP, 16:54:52 11/19/09 Thu
Is it illegal?....no
Could it bring down a company the size of Lehman?
Absolutely not.
If you don't know why Lehman collapsed...then I guess you bought AIG shares.
[Edit]
- naked shorting is immoral and illegal .. -- Delta-au, 16:54:25 11/19/09 Thu
We've always believed that naked short selling is a form of manipulation, particularly when it occurs near the market's opening and close (even if it's part of a hedging strategy, it's often still manipulative). There now have been a number of stories revealing what short sellers have been doing over the past few years and it's clear that this is destructive behavior.
It's time that the SEC and other regulators step up. Otherwise, this is one more aspect of "deregulation" that will continue to allow some to artificially manipulate stock prices - and feed the widespread belief that the markets aren't safe.
How to Fix It: Totally Eliminate Naked Short Selling
Many thanks to Carl Hagberg, for allowing us to reproduce his fine article below from the most recent issue of his "Shareholder Service Optimizer":
Here's the simple fix: We still can’t figure why smart people haven’t been able to understand exactly how naked short sales cheat investors – and how they can and do create cascades of sales to spook legitimate investors into panic selling – so the shorts can lock-in their profits, guaranteed – AND how simple the “fix” to the naked short-selling scandal really is:
Every single trade must be settled on T+3, or a mandatory buy-in must be executed by the seller's agent...no excuses or exceptions allowed. Something the SEC is still – shockingly and wrongly allowing.
We’ve been equally surprised by the large number of very smart people who think that restoring the “uptick rule” is the solution to the problem. It isn’t – especially since with trades now moving in one-cent increments, any crook in town can create an uptick to sell on - but still fail to deliver, sale after sale, after sale, etc.
How the markets are supposed to work: Let’s patiently review what should really be simple logic, about the way securities markets are supposed to work – and also about the inexorable, but basically simple law of supply and demand:
- First, let’s remember that one of the main reasons the SEC was formed in the first place – and the main reason that SEC registration of all publicly tradable shares was (and is) required – is to prevent fraudulent “over-issuances” of securities. In other words, if 100 shares of Company-A are registered, and I own 10 of them, the SEC rules and regs are meant to assure that I own one-tenth of the company, regardless of whether the shares are $1 each or $10 each.
- Second, let’s note than when shares are “sold short” there is always, by definition, a buyer. That buyer is entitled to have possession of his shares, and all the rights pertaining thereto, on T+3. And, under the present system, the buyer’s agent automatically credits the buyer with the ownership.
- But thus, please note, it is not enough for a seller to simply “locate shares” or to simply “ascertain that shares are available for lending” as current SEC rules seem to say is sufficient: the “short seller” must literally “borrow” the shares – and literally deliver them to the buyer for cancellation and re-registration; otherwise the issuer is “over-issued.”
Let’s review: For every single day a short-seller is allowed to go “naked” – i.e., the seller or his agent has failed to deliver the shares sold for cancellation – the issue is literally “over-issued” by that number of shares.
- In other words, if I sell 10 shares and the buyer has taken ownership of ten shares … but I haven’t delivered 10 shares for cancellation… there are now 110 shares “floating” out there in our little example. And, most important to note, in economic terms, this represents a 10% dilution of the SEC-registered shares.
- Theoretically, the 10% dilution – and the accompanying economic distortion of the true “equilibrium price” of the stock – is supposed to be immediately corrected by a forced “buy-in” of the undelivered shares, which will automatically bring the price back to a market-based “equilibrium” price.
- But when the buy-in rule is not strictly enforced, as is presently the case, “smart” naked-short-sellers will make as many more naked-short-sales as they possibly can – since allowing shorters to go naked almost guarantees that the shares will continue to fall – which will allow them to “cover” at even lower market prices than if they’d been covered on time.
- Please note carefully that allowing “naked shorts” to go uncovered by T+3 creates a “double whammy” in terms of market dynamics and in terms of the economics: Not only is there a frightening drumbeat or repeated sales – that tends to encourage a barrage of covered-sales too – each “naked sale” dilutes the number of shares they’ve bought, but no shares have been presented for cancellation.
- Please note too, that if a mandatory buy-in takes place, the “outstanding shares” are immediately brought back to the registered number of shares – and the market purchase automatically assures that the price is brought to a market-based “equilibrium number”…which, of course, is the correct number from a market-based perspective.
Let's review the math again: If I make a short sale of 10 shares of the 100 shares outstanding on Monday, and don't deliver on Thursday - and I am not automatically bought-in - as theoretically required, Company-A is over-issued by 10%. If I decide to make another naked short sale of 10 shares - and once again fail to deliver and fail to get bought-in, Company-A is now over-issued by 20%. Make no mistake about it: the SEC is allowing this to happen every single day!
Let's review the consequences again: The market - and the market price of the stock - are being inexorably distorted...because in reality, sellers are being allowed to sell something they do not have...or ever plan to have and for every day they are allowed to go naked they have been allowed to sell shares that should no longer truly exist under the charter and bylaws of the company - or under SEC rules.
So let's sum up: There is absolutely nothing wrong with short selling...as long as one ponies-up the shares on settlement date...regardless of whether one owns them outright or borrows them. (If one bets the wrong way, as very often happens, and the shares go up – and pass the point where the seller “sold short" legitimate short sellers will, of course, have to “cover their bet" at some point and repay the borrowed shares - either by delivering shares they may now own or buying them at the market price, which keeps the price of said shares at the market-based “equilibrium price").
But note: There is something that is both immoral and illegal about selling something you don’t own – or where you haven’t actually borrowed the goods to make delivery...and made delivery, pursuant to the normal terms of the sale. (And if you sold short with no intention of ever delivering the goods…that’s fraud.)
If one allows the supply of shares to multiply by 5% or 10% or more - as naked short sellers actually have done...while the “demand” to buy shares is constant, other things being equal, the price of said shares will definitely fall. (This is the first law of economics by the way). And if one adds to the normal desire to sell – by initiating a panic, fueled by sales of shares that one doesn’t own, and doesn't intend to lay claim to and deliver try the agreed upon date...(i.e. an artificially induced ‘disequilibrium’ between real supply and real demand)...the price will fall even more!
Link omitted to save space ..
bbmmmmmmmmmmmmmmmmmml ..
[Edit]
- - -- faloffal, 16:51:52 11/19/09 Thu
largest US cities
1. New York
2. Los Angelas
3. Chicago
4. New York with just Baby boomers
so, if you study boomers, who are studying YOU, then what to make of this ~strange loop~?
[Edit]
- ahh .. the personal attack .. -- Delta-au, 16:51:50 11/19/09 Thu
when logic fails ..
Discuss ..
bbmmmmmmmmmmmmmmmmmmmmmmmmmmmml ..
[Edit]
- I'm talking to a 'bbl' idiot -- RIP, 16:50:56 11/19/09 Thu
Is that akin to BMI?
[Edit]
- naked shorting is immoral and illegal .. -- Delta-au, 16:49:53 11/19/09 Thu
Discuss ..
bbmmmmmmmmml ..
[Edit]
- 33 nillion shares of 'fraud'...in a company the size of Lehman...is squat -- RIP, 16:48:12 11/19/09 Thu
Anyone could have stepped to the plate to rescue them.
No one did.
Discuss.
[Edit]
- well let's take pity on the poor boy .. -- Delta-au, 16:45:11 11/19/09 Thu
A fail-to-deliver is a trade that doesn’t settle within three
days. “We had another word for this in Brooklyn,” said Harvey
Pitt, a former SEC chairman. “The word was ‘fraud.’”
..
what part of fraud dooone you get ?
[Edit]
- - -- faloffal, 16:45:01 11/19/09 Thu
delta, more Olympic trivia...
in Atlanta, 1996 one of my brothers represented Canada in the inaugural Marathon Swim, I forget how he placed, but during the early 1990's he won the World Cup two years in a row. I think I mention on this board years ago how his rise to prominance was through Argentina, how it took him a few years to figure out the local river currents in the Santa Fe estuary, and then only when he got the technicals correct was he able to defeat the local Argentinian swimmers. (who were world beaters at the time). His reward was to marry his Argentinian translator.. and now they have three kids ...who I hear have become quite a handful in the old home town.
[Edit]
- Problem is I do understand. -- RIP, 16:42:48 11/19/09 Thu
That must be why you want new blood.
[Edit]
- wow rip .. you still dooone get it .. -- Delta-au (), 16:40:59 11/19/09 Thu
we can't he'p ya if ya just dooone have the capacity to understand ..
edit .. bbmmmmml
Last edited by author: Thu November 19, 2009 16:41:25
Edited 1 time.
[Edit]
- Who knows what to believe anymore ? -- Sherlock, 16:41:14 11/19/09 Thu
http://www.youtube.com/watch?v=dzQBiiwo09g&feature=topvideos
[Edit]
- I ask anyone... -- RIP, 16:39:34 11/19/09 Thu
What could 33 million naked shorts do to destroy Lehman?
Do you really think it is that simple?
Wow.
Have you ever checked their float or average volume?
Carry on.
You have found your pathetic niche.
[Edit]
- - -- faloffal, 16:33:18 11/19/09 Thu
I'm not sure where you are going with your question Delta. but here is a few anecdotals for those that like them.
* people are complaining that services are being cut to redirect money to the Olympic games.
* the population growth of Vancouver is overwhelming Chinese, "Hongcouver". The few people I talk to that come up island note the imbalance.
* generally I'm not paying too much attention to the thing, but this may change as I look a little deeper into the HongKong 'Peak Spender', and the inevitable 'fallout'
* Canada doesn't generally do very good at Olympics, but there was one or two not too long ago that the trend appeared to change, but then in '08 China it reverted to the mean.
* I am very impressed with Dr. Barry Sears 'fish oil' treatment of Olympic atheletes in USA and Australia, and how this therapy contributed to several high medal counts.
[Edit]
- more on those illegal and immoral shorters .. -- Delta-au (), 16:31:44 11/19/09 Thu
Twice last year, hundreds of thousands of failed trades coincided with widespread rumors about Lehman Brothers. Speculation that the company was being acquired at a discount and later that it was losing two trading partners both proved untrue. After the 158-year-old investment bank collapsed, listing $613 billion in debt, former CEO Richard Fuld told a congressional panel on that naked short sellers had midwifed his firm’s demise.
The trading pattern that emerges from 2008 SEC data shows naked shorts contributed to the fall of both Lehman Brothers and Bear Stearns Cos, which was acquired by JPMorgan Chase & Co in May.
edit ..
woops BBMMMMML ..
Last edited by author: Thu November 19, 2009 16:33:18
Edited 1 time.
[Edit]
- RIP, And new blood will do what? -- The_Vet (), 16:28:05 11/19/09 Thu
Hey...the more the merrier.
==================================
Sounds like a quote from Al Capone's on the Valentine's Day message..
After all, his purpose was "market price discovery" and to reduce competition....
Last edited by author: Thu November 19, 2009 16:28:34
Edited 1 time.
[Edit]
- Idiots -- RIP, 16:27:08 11/19/09 Thu
[Edit]
- So 33 million naked Lehman shares brought the company down -- RIP, 16:25:43 11/19/09 Thu
GATA 'nother joke to tell me?
[Edit]
- - -- faloffal, 16:20:39 11/19/09 Thu
the congestion of baby boomers in New York, makes this city an outlier.
[Edit]
- RIP - People wh listened to Jim Sinclair -- morbius, 16:18:46 11/19/09 Thu
made a hell of a lot more money than those who listened to Jim Cramer (and Liesman and Kudlow, and Laffer and on..and on..and on), ripe tomatoes or no.
[Edit]
- faloffal .. -- Delta-au, 16:18:40 11/19/09 Thu
have you studied the success of Olympic medal counts as an indicator of national wealth or importance ?
BBMML ..
[Edit]
- how about a lecture on nekkid shorts .. -- Delta-au, 16:17:16 11/19/09 Thu
The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts. As Lehman Brothers Holdings Inc struggled to survive last year, as many as 32.8 million shares in the company were sold and not delivered to buyers on time as of September 11, according to data compiled by the Securities and Exchange Commission and Bloomberg. That was a more than 57-fold increase over the prior year’s peak of 567,518 failed trades on July 30. The SEC has linked such so-called fails-to-deliver to naked short selling, a strategy that can be used to manipulate markets. A fail-to-deliver is a trade that doesn’t settle within three days. “We had another word for this in Brooklyn,” said Harvey Pitt, a former SEC chairman. “The word was ‘fraud.’”
no link offered .. google it if ya want it badly enuff ..
another quote "I take back nothing I said."
Yes, we know that .. we always know that .. ad infinitum ..
----------------------------------------------------
BBML .. BBML .. BBML .. BBML .. BBML .. BBML .. BBML .. BBML ..
BBML .. BBML .. BBML .. BBML .. BBML .. BBML .. BBML .. BBML ..
BBML .. BBML .. BBML .. BBML .. BBML .. BBML .. BBML .. BBML ..
-----------------
that last BBML is fer real ..
..
[Edit]
- Quote away -- RIP, 16:14:59 11/19/09 Thu
And new blood will do what?
Hey...the more the merrier.
I take back nothing I said.
[Edit]
- - -- faloffal, 16:13:49 11/19/09 Thu
Are number types representations of people types?
Complex
Imaginery
Real
Irrational
Transcendental
Negative
Fraction
[Edit]
- what next ? well, maybe we all just quote you, ya big lug .. -- Delta-au, 16:11:35 11/19/09 Thu
GTDM -- RIP, 12:32:18 11/19/09 Thu
Cheers, Lloyd et al.
ERHE update -- RIP, 12:38:29 11/19/09 Thu
@ 11 o'clock.
Nothing beats the wall of worry -- RIP, 13:43:35 11/19/09 Thu
Screw the $50 days.
Miron pops up -- RIP, 13:57:17 11/19/09 Thu
...to tell us the hourly trader is now a bored buy and hold kinda guy.
rotflmao
He also doesn't like DHS -- RIP, 13:59:03 11/19/09 Thu
double...rotflmao.
It's not what POG does when it should rise -- RIP, 14:34:37 11/19/09 Thu
...it's all about what POG has NOT done when it should fall.
Yeah...it's different this time....so far.
No problem Miro -- RIP, 14:43:05 11/19/09 Thu
How are your hourly biotech trades doing?
Well...I hope.
Nice try looser -- RIP, 15:03:43 11/19/09 Thu
but you can try calling 555-eat-shit.
Or call a DHS friend..... lol
Maybe SilverFox and others can give us a rundown of CRIMEX manipulation -- RIP, 15:16:28 11/19/09 Thu
@ bbl -- RIP, 15:28:48 11/19/09 Thu
How often do I have to see that....when it is always a lie?
POG is up, bonds are up....... POO is down, and SM is down -- RIP, 15:31:57 11/19/09 Thu
Can it get better? LOL
Whose probation? -- RIP, 15:33:10 11/19/09
My gawd -- RIP, 16:00:06 11/19/09 Thu
They are quoting Kunstler in length.
What's next?
Are Jim's tomatoes ripe yet? -- RIP, 16:02:02 11/19/09 Thu
Whatever year's crop does not matter.
How about some more Jim Willie junk? -- RIP, 16:05:08 11/19/09 Thu
Cuz....that dollar is headed straight to Mugabe.
Right?
----------------------------------------------------
And you ask if we need new blood?
Go shake yer silly head ..
BBL .. BBL .. BBL .. BBL .. BBL .. BBL .. BBL .. BBL ..
BBL .. BBL .. BBL .. BBL .. BBL .. BBL .. BBL .. BBL ..
BBL .. BBL .. BBL .. BBL .. BBL .. BBL .. BBL .. BBL ..
[Edit]
- - -- faloffal, 16:10:09 11/19/09 Thu
if gold was fixed during the 1950's at $35 an ounce, and centroid was ballyhooed at $350 during the early part of this decade, when might we see $3500?
do we fix at $3500 sometime after 2012?
without much creative effort I think this is a pretty good number for ASSS and HoriZone calcs. Would tripping over 36xx send the wrong signal?
[Edit]
- You guys are trying to make for now what is an easy game....complicated -- RIP, 16:07:25 11/19/09 Thu
If this game does in fact become complicated....you won't know which way to turn.
[Edit]
- How about some more Jim Willie junk? -- RIP, 16:05:08 11/19/09 Thu
Cuz....that dollar is headed straight to Mugabe.
Right?
[Edit]
- - -- faloffal, 16:02:59 11/19/09 Thu
when Merritt wrote the quotes below, gold was fixed at $35 an ounce.
[Edit]
- Are Jim's tomatoes ripe yet? -- RIP, 16:02:02 11/19/09 Thu
Whatever year's crop does not matter.
[Edit]
- - -- faloffal, 16:00:12 11/19/09 Thu
"have you noticed, however, that whenever there is an argument over gold, the Government always takes the gold and leaves the paper money with the people? Gold coins always continue to have value whereas history is strewn with bales of worthless paper money"
ibid
[Edit]
- My gawd -- RIP, 16:00:06 11/19/09 Thu
They are quoting Kunstler in length.
What's next?
[Edit]
- FAZ up 5.34% -- Sherlock, 15:59:42 11/19/09 Thu
The financials struggled all day. That can't be good for the stock market. Was good for me though.
[Edit]
- sherlock .. -- Delta-au, 15:59:15 11/19/09 Thu
no I haven't read it ..
[Edit]
- - -- faloffal, 15:58:05 11/19/09 Thu
"raw gold and the common stocks of gold-mining compaines are to be considered primarily a hedge against DEflation rather than INflation. They are not good inflation hedges except possibly on very long-term basis"
Robert D Merritt, 1956
[Edit]
- If the 'cabal' wanted POG lower -- RIP, 15:57:46 11/19/09 Thu
...it would be lower.
Is it your neighbour who is demanding gold?
Think aboot it.
[Edit]
- The Long Emergency .. -- Delta-au, 15:57:33 11/19/09 Thu
The Long Emergency: Surviving the Converging Catastrophes
of the Twenty-first Century is a book by James Howard
Kunstler (Grove/Atlantic, 2005) exploring the consequences
of a world oil production peak, coinciding with the forces
of climate change, resurgent diseases, water scarcity,
global economic instability and warfare to cause chaos for
future generations.
The book's principal theme explores the effects of a peak
in oil production, predicted by many geologists, on
American society as well as the rest of the world. In both
this book and in his other writings, Kunstler argues that
the economic upheavals caused by peak oil will force
Americans to live in more localized, self-sufficient
communities.
Kunstler's premise is that "cheap, plentiful" oil is the
foundation of industrial society and the pervasiveness of
its effects is not widely appreciated. Through the 21st
century, oil and natural gas will become increasingly
difficult to obtain, becoming increasingly expensive and
ultimately unavailable. Scarcity of petroleum will cause
significant problems for transportation and generation of
electrical power. In addition, shipping of food and
manufactured items will become increasingly expensive,
ultimately prohibitively so. Also, natural gas is vitally
important to food production as it is the raw material for
much of commercial crop fertilizers. In the industrialized
West, most food production and manufacturing is performed
far from, & generally abstracted away from, the end consumer.
The author further argues that alternative sources of
energy will be insufficient. As petroleum sources become
scarce, environmentally harmful or risky technologies such
as coal and nuclear will become necessary but not
sufficient for our energy needs. Hydroelectric, solar, and
wind power, even in combination with coal and nuclear, will
also be far from sufficient. Kunstler does not consider
hydrogen to be a true energy source since one cannot drill
into the earth and obtain hydrogen. Hydrogen must be
extracted from other energy sources, such as natural gas or
using electricity at a total net loss of energy.
He states that as energy becomes scarce, transportation
will become difficult or impossible, causing food and other
necessary commodities to become unavailable in many
communities. It will be necessary for local communities to
become self-sufficient for food production, but many
communities will be unable to do so, particularly large
cities. The result will be mass starvation, disease, and
civil unrest. Kunstler suggests that governments will be
incapable of managing these problems. This period of
scarcity and collapse will possibly last for hundreds of
years, hence the "long" emergency of the book's title.
Kunstler, a long-time critic of suburban design, advises
communities to change to accommodate walking and bicycling
as the primary modes of transport. Populations should be
moved out of big cities into smaller communities that have
nearby arable land with adequate water and favourable
climate for agriculture. People should begin learning to
grow food.
http://en.wikipedia.org/wiki/The_Long_Emergency
--------------------------------------------
[Edit]
- The cabal is like someone in a field of anthills ... -- GlodCoaster, 15:54:44 11/19/09 Thu
trying to kill off the ants with a can of fly spray. They can't kill humanity even if they do try their dammedest.
[Edit]
- RIP - The real measure of their stupidity -- morbius, 15:52:13 11/19/09 Thu
can be inferred from the fact that Jim Cramer is still on the air.
[Edit]
- sherlock .. -- Delta-au, 15:50:58 11/19/09 Thu
i may have ..
but doooone recall reading it ..
will look it up ..
[Edit]
- Delta-au / Peal oil -- Sherlock, 15:49:01 11/19/09 Thu
I'm curious. Have you ever read James Howard Kunsler's circa 2004 " The Long Emergency."? Lot's of folks may not like Kunsler's views, which seem overly pessimistic. But I believe there's a good possibility that many of his predictions will come true.
[Edit]
- RIP - 'they' being the Cabal - Fed, GSachs, BoE etc? -- GlodCoaster, 15:45:46 11/19/09 Thu
"They" use fiat currency, debt and taxes to suppress the sheeple, but perhaps "they" may have created a global financial monster even they can't control. In the big picture the cabal wants to devalue US debt by trashing the dollar, which they did effectively in the bailout. Now they want a fascist world gummint under the low carbon (anti-industrial) regime, but people are waking up to it. They can't pass a carbon bill in the Australian Parliament or the US because people don't want it. Then they want to kill half or more of us off with bioweapons in vaccines, and now they're getting massive blowback from that. People are waking up to it. The cabal isn't totally in control and by God this evil scum won't get their way.
[Edit]
- We'll see, RIP -- morbius (), 15:41:57 11/19/09 Thu
You kinda remind me of CENTROIDIZATION@350 dude who crowed for months about the omnipotence of The Fed. These guys aren't gods, they are just crooks....enabled by the profoundly moronic masses.
Last edited by author: Thu November 19, 2009 15:44:38
Edited 1 time.
[Edit]
- POG is up, bonds are up....... POO is down, and SM is down -- RIP, Can it get better? -- Pyrite, 15:43:14 11/19/09 Thu
Satan is very content.
[Edit]
- RIP - Do you seriously think they could not get this gold move under control if they wanted to? -- morbius (), 15:37:06 11/19/09 Thu
Depends on what you mean by 'control'. They can send a lot more physical East at a lower price. That would be the kind of 'control' the BOE was exercising when they sold half the nation's gold at the bottom.... The kinda 'control' the holder of a Full House exerts when raising into a Straight Flush.
Last edited by author: Thu November 19, 2009 15:41:20
Edited 1 time.
[Edit]
- morbius -- RIP, 15:40:05 11/19/09 Thu
Chinaman will always settle for cash....even Yankee bucks.
Chinese physical deliveries are what Goldman wants you to believe.
India was simply the pigeon.
[Edit]
- hmm .. 1998 peak oil .. Colin Campbell's Response to the Guardian IEA Reporting .. -- Delta-au (), 15:38:42 11/19/09 Thu
Last week saw the release of the IEAs 2009 World Economic Outlook on which we will be providing some analysis in the coming weeks. The night before its release, the Guardian ran an interview with a 'whistleblower' claiming that key oil figures were distorted by US pressure so as to avoid 'panic buying', claims the IEA subsequently denied. Today, we see the fourth Guardian article in a week on the urgency of Peak Oil.
Colin Campbell, one of the worlds preeminent depletion analysts, and co-author of the 1998 Scientific American article, "The End of Cheap Oil", drafted a reply to the Guardian on these issues. Below the fold is Dr. Campbell's letter, which gives some relevant history as to how the oil depletion debate has unfolded over time in the worlds energy agencies.
http://www.theoildrum.com/node/5970#more
-----------------------
Discuss ..
..
Last edited by author: Thu November 19, 2009 15:39:20
Edited 1 time.
[Edit]
- Oil falls first day in four on stronger dollar, jobless claims -- Sherlock, 15:35:58 11/19/09 Thu
By Polya Lesova & Moming Zhou, MarketWatch
NEW YORK (MarketWatch) -- Oil futures fell on Thursday, moving lower for the first session in four, as a rebound in the dollar and a report that showed higher-than-expected U.S. jobless claims dampened the outlook for energy demand...
http://www.marketwatch.com/story/oil-futures-fall-1-as-dollar-gains-2009-11-19
[Edit]
- Whose probation? -- RIP, 15:33:10 11/19/09 Thu
[Edit]
- voy site reliability .. -- Delta-au, 15:31:59 11/19/09 Thu
has been GOOD for a while .. THANKS Rudi & Brandon ..
so ..
how about giving the moderator the power to add posters ..
with any new blood is probationary for 3 months ..
..
[Edit]
- POG is up, bonds are up....... POO is down, and SM is down -- RIP, 15:31:57 11/19/09 Thu
Can it get better?
LOL
[Edit]
- @ bbl -- RIP, 15:28:48 11/19/09 Thu
How often do I have to see that....when it is always a lie?
[Edit]
- Glywndr .. -- Delta-au, 15:28:27 11/19/09 Thu
yup .. but new blood is off the Rudi / Brandon agenda ..
rots of ruck with that ..
..
[Edit]
- Phh.. -- Glyndwr, 15:27:11 11/19/09 Thu
Away - bbl.
[Edit]
- @ What do you think? -- RIP, 15:26:56 11/19/09 Thu
I think you missed out on a great opportunity to buy gold stocks this AM.
Is that what you were looking for?
[Edit]
- This place needs new posters... -- Glyndwr, 15:25:19 11/19/09 Thu
Might save RIP trying to fill in the gaps..
[Edit]
- Belgian gets EU Prez job .. -- Delta-au (), 15:23:27 11/19/09 Thu
Bliar misses out ..
apparently Merkel dooone like him ..
Sarkozy too ..
Last edited by author: Thu November 19, 2009 15:24:23
Edited 1 time.
[Edit]
- Rip - Hey - blah-de blah.. -- Glyndwr, 15:21:41 11/19/09 Thu
What do you think?
[Edit]
- @'da scene -- Eldorado, 15:19:34 11/19/09 Thu
ERHE will be doing good if'n it only sees 50 cents.
[Edit]
- @'da scene -- Eldorado, 15:18:47 11/19/09 Thu
MichaelH -- Ah, another listener of McCanney. Good on ya.
[Edit]
- Maybe SilverFox and others can give us a rundown of CRIMEX manipulation -- RIP, 15:16:28 11/19/09 Thu
It's as plain as the nose on yer face they want POG higher.
Let's see what Chinaman wants POG to do.
I'm guessing he would like it lower.
[Edit]
- glodcoaster .. -- Delta-au (), 14:58:51 11/19/09 Thu
not much apart from what you wudda read here ..
I'm looking at IVC as a non-gold pick ..
and a couple of alternative energy picks in the pipeline ..
edit
1.. AVO - good mid-cap producer & explorer, large reserves, low costs .. 0.2 mm oz pa ..
2 .. Also, I'd add a comment that the strong A$ has hurt local producers, as A$PoG has not shifted much compared to US$PoG ..
http://stockcharts.com/h-sc/ui?s=$GOLD:$XAD&p=W&yr=3&mn=0&dy=0&id=p06077096440
..
Last edited by author: Thu November 19, 2009 15:11:23
Edited 1 time.
[Edit]
- -- -- Winston, 15:08:42 11/19/09 Thu
Pritchard
Is $6,300 per ounce a fair value for gold?
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100002059/is-6300-fair-value-for-gold/
[Edit]
- morbius -- RIP, 15:06:21 11/19/09 Thu
Do you seriously think they could not get this gold move under control if they wanted to?
Wow.
They don't want to.....not yet.
[Edit]
- Nice try looser -- RIP, 15:03:43 11/19/09 Thu
But you can try calling 555-eat-shit.
Or call a DHS friend..... lol
[Edit]
- RIP - Down (successful) or up (not), manipulation will continue -- morbius (), 15:02:19 11/19/09 Thu
until the lid blows off this fraud.
Last edited by author: Thu November 19, 2009 15:02:41
Edited 1 time.
[Edit]
- RIP @How are your hourly biotech trades doing? -- Miro, 14:57:29 11/19/09 Thu
get it through you head RIP, I don't day trade anymore, but I made some good money on biotech. I made my money when it was right time to turn around fast, now I go with the trend.
Of course you don't know the difference, as you are so ignorant about markets but you keep talking like there is no end to your ego. Can I have you mom's phone number? I would like to call her and tell her that she should take away your Internet privileges as you keep making ass of yourself.
[Edit]
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed -- Sherlock, 14:55:03 11/19/09 Thu
By: Jeff Cox
CNBC.com
As experts debate the potential speed of the US recovery, one figure looms large but is often overlooked: nearly 1 in 5 Americans is either out of work or under-employed....http://www.cnbc.com/id/34040009
[Edit]
- Nice turn-around in the PMs -- Sherlock, 14:48:05 11/19/09 Thu
Good call if you bought the lows today. I missed them since I'm still defensive. Oh well still made 10% this week on UXG. Sure beats a money market fund.
[Edit]
- morbius -- RIP, 14:44:28 11/19/09 Thu
I thought manipulation only happened on the way down.
GATA told me.
[Edit]
- No problem Miro -- RIP, 14:43:05 11/19/09 Thu
How are your hourly biotech trades doing?
Well...I hope.
[Edit]
- RIP - Does anyone doubt who sets POG? -- morbius, 14:42:37 11/19/09 Thu
Does anyone doubt who manipulates the POG? Not me.
[Edit]
- Miron pops up -- RIP -- Miro, 14:41:34 11/19/09 Thu
Yawn, RIP talks and I fall asleep. I am trying to make some money in this funny market and he just keep talking nonsense.
Have a good day RIP, I am not sure that anybody with some brain pays any attention to what you say.
[Edit]
- ERHE -- Sherlock, 14:41:25 11/19/09 Thu
0.54... bid 0.51 ask... 0.62
[Edit]
- It's not what POG does when it should rise -- RIP, 14:34:37 11/19/09 Thu
...it's all about what POG has NOT done when it should fall.
Yeah...it's different this time....so far.
[Edit]
- Gold demand falls 34 pc in 3rd qtr: World Gold Council -- RIP, 14:29:25 11/19/09 Thu
http://economictimes.indiatimes.com/Bullion/Gold-demand-falls-34-pc-in-3rd-qtr-World-Gold-Council/articleshow/5247314.cms
OK....who's buying?
[Edit]
- I don't think there will be a rush -- MichaelH, 14:26:51 11/19/09 Thu
into paper (gold stocks).
[Edit]
- Sherlock -- Carmack, 14:24:59 11/19/09 Thu
"Anyway, can the Chinese be that stupid to be sinking all this money in order topump up some gassy sea water?"
Hmmm let us hope not !!! Maybe she is a frinkin gusher ?
[Edit]
- Does anyone doubt who sets POG? -- RIP, 14:24:42 11/19/09 Thu
Chinaman hasn't woke up yet.
[Edit]
- The cartoon -- Sherlock, 14:18:54 11/19/09 Thu
Select Nov 17, 2009...http://www.nypost.com/opinion/cartoons/delonas.htm
[Edit]
- I liked Jim Mccanney's comment -- MichaelH, 14:17:57 11/19/09 Thu
by the time 2012 rolls around you will not even remember there was something called a mayan calendar ...
[Edit]
- A Foolish View of America's Debt By RANDALL W. FORSYTH -- Sherlock, 14:16:37 11/19/09 Thu
IN THE ROYAL COURTS OF OLD, the fool or jester could get away with saying controversial things that would have sent others to the dungeon. The same holds true for editorial cartoonists, who can often cut to the quick with more wit and precision than the editorials with which they may share the page....
http://online.barrons.com/article/SB125846371623352037.html?mod=BOL_hpp_dc
[Edit]
- The original Virginia was acquired by Goldcorp......in order to take over Eleonore -- RIP, 14:14:55 11/19/09 Thu
But the new Virginia is a tightly run ship.
Smart and thrifty.....but a small trader.
I don't say that about many exploration companies.
[Edit]
- @goro -- skys39, 14:14:36 11/19/09 Thu
nice chart
looks like a buy
[Edit]
- How can a stock that trades for $5.20 sell shares for $8.67? -- RIP, 14:08:28 11/19/09 Thu
Looks like they can...if they are flow-throughs.
http://fin-info.com/$main$nobody,,19329909$2d90d1d8dd92/press_release.phtml?symbol=VGQ&_time=2009-11-19%2012:15:02
Virginia, to its credit, is very stingy with issuing shares.
[Edit]
- He also doesn't like DHS -- RIP, 13:59:03 11/19/09 Thu
double...rotflmao.
[Edit]
- Gold, casinos, and brothels.... Elko,Nevada -- Sherlock, 13:58:48 11/19/09 Thu
Elko, Nevada: Good as gold
The small Nevada town has been able to dodge the recession. What's the secret of its success? Gold - and lots of it....http://money.cnn.com/galleries/2009/fortune/0908/gallery.elko_nevada_gold.fortune/index.html
[Edit]
- Miron pops up -- RIP, 13:57:17 11/19/09 Thu
...to tell us the hourly trader is now a bored buy and hold kinda guy.
rotflmao
[Edit]
- @ Mik ... -- MoreGold, 13:48:09 11/19/09 Thu
Well im glad your other stuff is doing relatively well, its all about having fun along the way also.
Bluffet is making mega billions of USD's, and I've never seen a more miserable shlep in my life. He just looks like an empty human vessel.
But did you really sell AU at 800? Now thats pretty regrettable in my books...
I've always believed that many many of the long time GOLD holders will sell way-way-way before its time.
[Edit]
- $4.8 trillion - Interest on U.S. debt -- Sherlock, 13:48:05 11/19/09 Thu
NEW YORK (CNNMoney.com) -- Here's a new way to think about the U.S. government's epic borrowing: More than half of the $9 trillion in debt that Uncle Sam is expected to build up over the next decade will be interest...http://money.cnn.com/2009/11/19/news/economy/debt_interest/index.htm
[Edit]
- Yawn @ market today -- Miro, 13:46:21 11/19/09 Thu
so did you sell, did you buy?
I did nothing, I am just holding my positions, so far so good ... Yawn day, if you panicked early in a day and sold it's your loss.
[Edit]
- too many zeroes -- 2bro2b, 13:46:14 11/19/09 Thu
I hate that when an ivy league institution makes math errors of three orders of magnitude. Fortunately their social sciences errors are only off by an ism or two.
http://www.businessinsider.com/oops-yale-forgets-it-doesnt-have-60-billion-2009-11
[Edit]
- ERHE -- Sherlock, 13:45:17 11/19/09 Thu
Well it's back to 55 cents So I'm still hanging on. Anyway, can the Chinese be that stupid to be sinking all this money in order topump up some gassy sea water?
[Edit]
- Nothing beats the wall of worry -- RIP, 13:43:35 11/19/09 Thu
Screw the $50 days.
[Edit]
- Granted....gold stocks have not performed as hoped -- RIP, 13:42:14 11/19/09 Thu
BUT....volume on down days like today is quite pitiful.
Yes...we have profit takers....but we also have a lot of people holding out for way better gains.
It will happen when you least expect it.
That's why it's called a market.
mvho
[Edit]
- ERHE now 54 cents_ How low can it go? -- Sherlock (), -- MichaelH, 13:33:35 11/19/09 Thu
Do you really need to be told?
0.00
[Edit]
- Committee eyes capping bank payout fund at $150 billion -- Sherlock, 13:32:56 11/19/09 Thu
Also video_AM Report: Ron Paul vs. the Fed....By Ronald D. Orol, MarketWatch
WASHINGTON (MarketWatch) -- Large banks would pay fees into a $150 billion fund to be used to make payouts to the creditors and counterparties of a failed big bank so that its collapse would not unsettle the financial markets, under a provision of bank regulatory reform legislation being considered by a congressional committee Thursday....http://www.marketwatch.com/story/lawmakers-cap-leverage-for-big-institutions-2009-11-19-10800
[Edit]
- "big regrets to me..." - MoreGold -- Mikikis (), 13:27:57 11/19/09 Thu
Workers taking a couple hour break here...gave me a chance to peak in....saw your post.....glad I have a chance to reply...
I wish that life was black and white...it is not. I'll leave the regrets to you my friend...regret away. I live my life differently I guess. I will never regret having made great trades and made lots of money...never...HL could go to $500 and I would not regret anything. I'm a 'realized' gains kind of guy...not a 'what if' guy. Doesn't mean that I don't speculate at times, just that I am able to appreciate profits when they come.
I bought gold at $600...sold it at $800. Do I 'regret' having sold? Nope. Why? Because I invested in the business of a friend...one that is starting to do really well now. My friend needed capital and I was in the right place at the right time...now we're both doing well.
I sold about 5000 oz of silver in the past year.....still only made a dent in my holdings. Will I regret it if silver goes way higher? Nope. Finished paying for land in an area that has been sold out for over a year now....covered some debts....made some new investments.
Life is about choices......some people spend their time in regret or resentment or whatever negative traps they wish to build for themselves...the rest of us leave them behind. I have taken gains in different metal investments and put them into play in other fields....productive places, I'm not worried. JMVHO.
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[Edit]
- Geithner walks into Capitol Hill buzz-saw -- Sherlock, 13:29:49 11/19/09 Thu
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) -- Treasury Secretary Timothy Geithner ran into a buzz-saw on Capitol Hill Thursday as Republicans tried to pin the weak labor market on him and even asked him to resign....http://www.marketwatch.com/story/geithner-tries-to-give-urgency-to-financial-reform-2009-11-19
[Edit]
- @ NOT ... IS ! -- MoreGold, 13:19:11 11/19/09 Thu
Noront Resources intersects high grade platinum, drilling now confirms continuity at Eagle's Nest
Thu Nov 19, 8:00 AM
Symbol: NOT:TSX-V
Shares Outstanding: 163,631,957
Fully Diluted: 173,461,957
TORONTO, Nov. 19 /PRNewswire-FirstCall/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT.V) is pleased to report newly obtained assay results of completed drill holes from the Company's Eagle's Nest deposit at the McFauld's Lake Property located within the Ring of Fire mineral district. The results are from the ongoing drilling, which continues to expand and define the extents of the mineralization at Eagle's Nest.
Five holes intersecting the Eagle's Nest mineralization are being reported herein. All five of the holes exhibit significant assay results including intersections of massive mineralization. The Company notes that Hole NOT-09-070-W1 intersected unusually high platinum grades within the massive sulphide mineralization.
ASSAY HIGHLIGHTS:
-----------------
- Hole # NOT-09-070-W1 intersected 22.8 metres averaging 4.41% Ni,
2.38% Cu, 28.07gpt Pt and 7.95gpt Pd
- Including 8.4 metres averaging 1.19% Ni, 1.46% Cu, 68.78gpt Pt and
7.55gpt Pd
- Also including 8.0 metres averaging 7.41% Ni, 2.19% Cu, 0.18gpt Pt
and 9.33gpt Pd
- Hole # NOT-09-068-W1 intersected 135.2 metres averaging 1.65% Ni,
0.8% Cu (Pt and Pd pending)
- Hole # NOT-09-064 intersected 53.1 metres averaging 1.94% Ni, 0.95%
Cu, 0.60gpt Pt and 3.85gpt Pd
- Including 13.2 metres averaging 4.98% Ni, 1.92% Cu, 0.07gpt Pt and
6.71gpt Pd
Drilling results continue to expand the size of the Eagle's Nest deposit and have definitively filled in all remaining gaps along the vertical length defining the mineralization to a depth of below 1,000 metres. Hole NOT-09-068-W1 was targeted to completely fill in the gap between what were formerly known as the B and C lenses at Eagle's Nest. In addition, hole NOT-09-070-W1 intersected significant massive mineralization including the highest platinum grades encountered to date at Eagle's Nest. The massive sulphide zone is taking shape and is close to being defined along the down-dip length of the deposit.
Wes Hanson, Noront's CEO states; "We continue to aggressively expand the resource potential at Eagle's Nest. We strongly believe that we have delivered on our stated target of tripling the Eagle One resource. Our drilling has established that the Eagle's Nest deposit is continuous from surface to depths below 1,000 meters and the mineralization over most of that distance remains open along strike as well as at depth. Our geological team currently estimates between 10 and 15 million tonnes of mineralized material at Eagle's Nest averaging approximately 2.0% nickel, 1.0% copper, 1-2 grams per tonne platinum and 3-5 grams per tonne palladium, consistent with the grades estimated in the existing 43-101 Resource Estimate for Eagle One. More importantly, the geometry of the deposit is ideally suited for underground mining which eliminates the need for expensive dikes and surface dewatering systems inherent to any open pit mining in this region of Canada." Mr. Hanson further stated; "We will be inviting qualified, independent engineering firms to bid on updating the Eagle's Nest resource estimate and plan to award this work by January, 2010."
[Edit]
- Gross prophets -- 2bro2b, 13:11:30 11/19/09 Thu
Perhaps remarkably, during the week surrounding the Lehman crisis in September of 2008, yours truly frantically called my wife Sue to empty our two local bank accounts into apparently safer Treasury bills. I was not the only PIMCO professional to do so. Preserving principal as opposed to making it grow was the priority of the day – digging a foxhole instead of charging enemy lines seemed paramount.
The Treasury as well, has a significant average life extension of its own debt to foist on investors before the Fed can raise short-term Fed Funds.
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2009/Dec+Gross+Anything+but+01.htm
Even bond kings know that sometimes itsa Ok tO pANiQuE.
[Edit]
- I know you didn't click on my potash link.....but consider how dumb any goo is. -- RIP, 13:09:39 11/19/09 Thu
...Saskatchewan was expecting $1.9-billion in potash revenue when it set its 2009-10 budget in March, but slashed that estimate to $637.6-million in mid-August. Now it expects to take in just $109-million, its lowest revenue from the fertilizer in 13 years.
-----
What a difference 8 months make.
[Edit]
- Plunging potash sales hammer Saskatchewan -- RIP (), 13:02:44 11/19/09 Thu
http://www.financialpost.com/news-sectors/story.html?id=2241604
That's GATA be because we have no food.
Jim Rogers told me this.
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[Edit]
- UXG -- Hambone, 13:01:21 11/19/09 Thu
Sold some I bought this morning. Reducing basis.
[Edit]
- @ Turk tells CNBC that the switch from paper gold to real gold is on -- MoreGold, 12:51:29 11/19/09 Thu
Dear Friend of GATA and Gold:
GoldMoney founder and GATA consultant James Turk, visiting Zurich, where GoldMoney has a vault, was interviewed about gold for five minutes today on CNBC. Turk attributed gold's hastening ascent not to the weakness of the U.S. dollar but to a switch by investors out of "paper gold" and into real metal. This was a nice way of saying that a lot of people have sold and a lot of people have bought not gold but mere thoughts of gold, gold that really isn't there, or anywhere, except in their heads, from which it may be hard to extract when it is most needed. You can watch the interview at the CNBC archive here:
http://www.cnbc.com/id/15840232?video=1334831876&play=1
[Edit]
- @ Mik ... -- MoreGold, 12:48:00 11/19/09 Thu
No regrets?
Tradings Ok, butt if its 9. or 12. in a few months, up from what your 1.40, thats big regrets to me...
[Edit]
- MoreGold -- Mikikis (), 12:39:47 11/19/09 Thu
I made tons of money in HL....I loved those trades. No regrets at all....in fact I'm quite proud of my entries and exits during that time. Trading is about making money, not more complicated than that.
My research about gold tells me that he who holds it is the same as your Cabal......both the physical and paper markets...maybe you should be also be looking OUTSIDE the continental United States for your gold....(just a tip)
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[Edit]
- ERHE now 54 cents_ How low can it go? -- Sherlock (), 12:36:43 11/19/09 Thu
I'm losing my patience. Dead money is bad enough, but this slow grind down, with no news, is very discouraging. I'm very close to taking my first loss in over two years, on that stupid $0.67 purchase. Some times you just have to bite the bullet....http://finance.yahoo.com/echarts?s=ERHE.OB#chart1:symbol=erhe.ob;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
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[Edit]
- ERHE update -- RIP, 12:38:29 11/19/09 Thu
@ 11 o'clock.
[Edit]
- Found this....figured I'd post it before I run -- Mikikis, 12:37:25 11/19/09 Thu
Brings up lots of issues.....interesting story of a man in Detroit...
http://blog.al.com/spotnews/2009/11/post_222.html
[Edit]
- @ Mik ... -- MoreGold, 12:35:11 11/19/09 Thu
Wrong, your very far off from what I know.
Do what you want its your pesos...
PS I mentioned to you way back that HL could be going back to $9 when you were busy selling, we'll see how that plays out by FEB...
[Edit]
- ... pump out dem gold coins ... -- BWP, 12:33:02 11/19/09 Thu
"Nov. 19 (Bloomberg) -- The U.K.’s Royal Mint, established in the 13th century, more than quadrupled production of gold coins in the third quarter after demand for the metal increased as investors sought to hedge against a weakening dollar. Output rose to 32,735.8 ounces from 7,500.2 ounces a year before, according to data obtained by Bloomberg News under a Freedom of Information Act request. Production in the first nine months more than tripled to 100,391.3 ounces, the data show."
[Edit]
- GTDM -- RIP, 12:32:18 11/19/09 Thu
Cheers,
Lloyd et al.
[Edit]
- Apollo -- lady_bug, 12:29:11 11/19/09 Thu
added to my HL stash @ 5.97 this morning
[Edit]
- Destroy MEXICO? Noooooooo -- Pyrite, 12:27:34 11/19/09 Thu
http://www.goldresourcecorp.com/video.php
[Edit]
- Expect a rough finish today -- Mikikis, 12:26:30 11/19/09 Thu
We'll see...BBL.
[Edit]
- MoreGold -- Mikikis (), 12:24:32 11/19/09 Thu
I bet you also believe that when gold finally explodes it will be because "they" have lost control, right? Funny. It will explode when they give the OK.....who do you think owns and holds most of the PHYSICAL gold?
You and I are passengers on their train, best not to get caught up in the drama of it all IMO.
Last edited by author: Thu November 19, 2009 12:24:54
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[Edit]
- ... fix it now .... -- BWP, 12:21:02 11/19/09 Thu
"Treasury Secretary Timothy Geithner is pushing Congress to move quickly in overhauling the nation's badly flawed financial rules, which he says is essential for the health of the economy."
... yeah, do it Timmy ... we need Green Shoots pronto ... scrap the capitalism and usury thing and let's get down ta real livin' ...
[Edit]
- Banking: So Many Questions and So Much Uncertainty -- doran, 12:18:48 11/19/09 Thu
4. How Many Banks Will Fail?
Hendler expects “600 to 1,200″ banks to fail in the next two years. The large banks that passed the government stress test are well positioned to handle the “lagging phases” of the recession, he said. But regional banking companies sensitive to local real estate trends, such as Zions Bancorp. and Marshall & Ilsley Corp., face tougher challenges, especially if economic trends take a bad turn. Some regionals might become acquisition targets, he said. Many community banks are still vulnerable to real estate and economic problems, too.
http://wallstreetpit.com/12260-2010-outlook-for-banking
[Edit]
- @ Mik ... -- MoreGold, 12:18:13 11/19/09 Thu
With all respect, I have seen this shit go on for too many years...
Yes there are a few specs, but its not about them at all, anyone with the years watching knows that.
Greenspan has even admitted it in the 90's etc etc etc...
It will all work out in the end and the fools will be stuck with the trash paper, in the meantime I try to warn the very few who listen...
[Edit]
- Gold Will Not Fall Below $1,000 Probably Ever Again: Faber -- doran, 12:15:04 11/19/09 Thu
In an interview about the global economy Faber said the support level for the precious metal will now be at $1,000, which was gold’s resistance level previously…”I don’t think that you’ll see gold below $1,000 per ounce probably ever again”, Faber said. “So I’m quite positive. Maybe, gold at this level is a better buy than it was at $300 per ounce in 2001.”
http://wallstreetpit.com/12236-gold-will-not-fall-below-1000-probably-ever-again-faber
[Edit]
- Usually when a group is as bullish as PM's... there isn't so much carnage. -- Kitcotodd, 12:14:09 11/19/09 Thu
KGC/AEM got buried from earnings and never bounced back. GSS too. Generally in a bull market stocks shake off bad news better.
[Edit]
- APOLLO -- WALIAC, 12:11:58 11/19/09 Thu
Same difference.
[Edit]
- ... talk ta the animules ... -- BWP, 12:08:58 11/19/09 Thu
"Flu Shot Made From Caterpillars May Win Pivotal Backing of U.S. Advisers"
... yeah, and nasal spray from donkey piss is also gainin' support ... animals are fun, I tell ya ....
[Edit]
- Worse yet -- APOLLO, 12:05:48 11/19/09 Thu
make it the 51st state
[Edit]
- BWP - NGD .... only one thing ta do .... DESTROY MEXICO! -- Kitcotodd, 12:04:37 11/19/09 Thu
They tried and it didn't work.
[Edit]
- Geithner rejects lawmaker request he resign -- Sherlock, 12:02:42 11/19/09 Thu
By Greg Robb
WASHINGTON (MarketWatch) -- Treasury Secretary Timothy Geithner rejected a request from a Republican lawmaker that he resign for his handling of the economy. In a heated exchange during a hearing of the Joint Economic Committee of Congress, Rep. Kevin Brady, Republican of Texas and the top House Republican on the panel, said Geithner had failed as the Obama administration's point-man on the economy. "Will you step down from your post,?" Brady asked. Geithner replied that he served at the pleasure of President Barack Obama. Geithner said he agreed "with almost nothing" that Brady had said.
[Edit]
- ngd -- mugwump, 12:01:45 11/19/09 Thu
looks like they didn't pay enough bribe money- that's all
badges, we don't need any stinkin badges
[Edit]
- Divergence - DOW/HUI - been going positive for the past hour -- APOLLO, 12:00:26 11/19/09 Thu
hope ya'll bought something other than NGD
[Edit]
- robotposter -- mozel (), 11:48:25 11/19/09 Thu
Last edited by author: Thu November 19, 2009 11:58:37
Edited 6 times.
[Edit]
- ... gold's down a tad .... -- BWP, 11:58:06 11/19/09 Thu
... and ya can hear the 'bugs moanin' 'n snivellin' a mile away ... but ya know what? ... gold's next leg up is just 'round the corner ... dry yer eyes, ya gold sissies ... we're goin' todamoon ....
[Edit]
- New Gold -- Mikikis, 11:57:29 11/19/09 Thu
Here's part of the problem....from their Nov. 2 company statement....
"VANCOUVER, Nov. 2 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX - NGD) confirms that all permits, licenses, concessions or authorizations that are required to operate its Cerro San Pedro Mine are valid and in force."
"Robert Gallagher, President and CEO of New Gold stated: "We are committed to operating in a socially responsible and sustainable manner in all the regions where we operate. New Gold is confident that all legal requirements related to its Cerro San Pedro Mine are being achieved or exceeded and that ongoing legal activities do not impact the continued operation of the mine.""
http://www.newgold.com/MediaCentre/NewGoldNews/PressReleaseDetail/2009/NewGoldClarifiesRecentMisinformationRegardingitsCerroSanPedroMine1121179/default.aspx
Investors hate this type of crap.....especially when things turn out dramatically different in short time...
[Edit]
- Mikikis - I sold some, but unfortunately not all............. -- Kitcotodd, 11:53:22 11/19/09 Thu
I thought the news was already behind.
[Edit]
- mugwump -- Mikikis, 11:52:29 11/19/09 Thu
See my 11:47....regarding the closure...
[Edit]
- @ NGD -- BWP, 11:51:50 11/19/09 Thu
.... only one thing ta do .... DESTROY MEXICO! ... yeah, nuke 'em 'til the mariachis glow inna dark .... OLAY! .... but hold off on the bombin' run 'til I finish my vacation on Playa Del Boink ....
[Edit]
- DJIA -- Sherlock, 11:50:44 11/19/09 Thu
It's like stuck at -152. how do they do that ?
[Edit]
- la di dah mikikis- i see you got off your ass-lol!! -- mugwump, 11:50:09 11/19/09 Thu
anyway, the people who lost their jobs may have a different opinion of the importance of patrimonal mountains and rare cacti-we'll see
[Edit]
- Tim - still having hassle... -- Glyndwr, 11:48:41 11/19/09 Thu
His Vulcan stare is failing. (Sherlock - thanks for the reminder). http://www.bloomberg.com/avp/avp.htm?clipSRC=LiveBTV
[Edit]
- Kitcotodd/Hambone -- Mikikis (), 11:47:17 11/19/09 Thu
I think it is a combination of a down day in the metals with the reality that they did in fact close it like Hambone says.....and the publicity of this case isn't going to help them at all.....but with the money involved I would imagine that they would attempt to come to some sort of agreement and this could move forward in some way without the mine being shut for too long.
It will probably costs them some good money to clean up some of the mess they made I think....that would help them get the mine open again...
Last edited by author: Thu November 19, 2009 11:48:07
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[Edit]
- New Gold -- Sherlock, 11:47:34 11/19/09 Thu
Old story. I hope none of you guys were holding NGD. The bottom line is the stock is down 20 %, I believe I posted the story a while back, as a warning. Don't fool around with any hint of bad news in this market. It's very unforgiving.
[Edit]
- Mikikis - I read last week they pulled the permit and ordered it shut. -- Kitcotodd, 11:45:07 11/19/09 Thu
The stock dropped 8% that day. I don't understand how this news is so earth shattering given that.
[Edit]
- Kitcotodd -- Hambone, 11:44:09 11/19/09 Thu
The difference was at first NGD was still operating the mine and fighting the decision. Now they've shut it down.
[Edit]
- Like I said.... -- Mikikis (), 11:39:08 11/19/09 Thu
I feel no pity for those that can't play by the rules and get burned.
Last edited by author: Thu November 19, 2009 11:42:42
Edited 1 time.
[Edit]
- Kitcotodd -- Mikikis, 11:41:19 11/19/09 Thu
Mine shut report today...
http://www.reuters.com/article/marketsNews/idAFN1916961920091119?rpc=44
[Edit]
- NGD -- Kitcotodd, 11:40:28 11/19/09 Thu
What I don't understand is that this news was reported a week ago. There really is nothing new here.
[Edit]
- More found...mugwump...pesky facts... -- Mikikis, 11:36:54 11/19/09 Thu
"Be it resolved, on basis of art. 239-B:IV of the Federal Fiscal Code, that the authorization accorded to Minera San Xavier, S.A. de C.V. in the permit S.G.P.A./DGIRA.DG.0567/06 by the Director General of Environmental Impacts and Risks at the Ministry of the Environment and Natural Resources (SEMARNAT) is null and void. By our order the SEMARNAT, which has already ignored a previous ruling by the court on the 5th of October, 2005, has 20 days to advise the affected party and carry out the sentence.�
The sentence of the 5th of October, 2005, cancelled in a definitive manner New Gold-Minera San Xavier�s mining project. This sentence was the product of another order obtained in the injunction D.A. 65/2004-873 of the 23rd of June, 2004. It reads: ��in conformity with the law, the court calls attention to the illegalities that have been brought to light. Consequently a land use permit can not be authorized, not even in a conditional manner.� (pg. 202).
The response of the Mexican ministry of the Environment and Natural Resources (SEMARNAT) was to ignore this sentence. Instead it gave a land-use change permit to New Gold � Minera San Xavier on the 10th of April, 2006 with even less conditions than those asked for in the original permit that had been rejected. This act has finally been declared unjustified and illegal by the Tribunal of the Judicial Authority of the Federation, which determined that since 2005 the issue had been tried and resolved. New Gold-Minera San Xavier�s project violated, amongst many others, a range of environmental laws as well as a decree that was designed to protect the wild life and vegetation of the zone affected by this project.
The project also violated official regulations that protect rare species of cacti that are endemic to the region. It jeopardized the valley of San Luis Potosi through its massive and irremediable contamination of a territory occupied by more than 1.3 million people as well as its aquifer. This is without mentioning the irreversible damage to the historical heritage of the nation.
The land use change licence obtained by New Gold-Minera San Xavier in 2006 was no accident. It was drafted in the law offices of Angel Candia Pardo, lawyer for the company and for the Partido de Acci�n Nacional in the state of San Luis Potos�. Together with individuals from the private sector, three levels of government, the Canadian managers of the company an open pit mining project was developed at the cost of ignoring national laws, the health of the inhabitants of San Luis Potos� and environmental heritage of future generations of Mexicans.
Ample proof of all of this was presented by members of the FAO to New Gold-Minera San Xavier but it has been steadfastly ignored by the various parties that had bearing on this case. Thanks to the protection of this illegal license the company has caused wide-spread destruction of the area. In only 34 months, without even working at full capacity, the company has, amongst other things, levelled two patrimonial mountains and has buried extensive areas of a territory that had been protected by law. We are before one of the most dramatic and representative cases of the environmental impacts generated by the generalized corruption that exists in our country.
"
[Edit]
- Glyndwr -- Mikikis, -- Glyndwr, 11:34:31 11/19/09 Thu
Shhh! ..I'm trying not to feel smug. See how it goes.
[Edit]
- Like I said earlier - this is not a big correction -- APOLLO, 11:32:28 11/19/09 Thu
those mortgage delinquincies mean low rates for years to come & a much lower USD. PM stocks doing remarkably well given all the gains on the table & the SM
[Edit]
- mugwump - 1st try to get details.... -- Mikikis, 11:31:15 11/19/09 Thu
"In response, a bi-national declaration was signed this week by Canadian Parliamentarians and members of the Mexican congress urging the relevant Mexican authorities to enforce the tribunal's decision. It was signed by Gilles Duceppe, Pierre Paquette, Francine Lalonde and Johanne Deschamps for the Bloc Québecois; Jack Layton, Peter Julian and Paul Dewar for the New Democratic Party; Elizabeth May for the Green Party; Alejandro Encinas Rodríguez for the seventy members of the Partido de la Revolución Democratica; and Pedro Vásquez González for the thirteen members of the Partido del Trabajo.
The declaration notes the severe and in many cases irremediable damages that New Gold's project has wrought to the valley of San Luis Potosí - inhabited by approximately 1.3 million people - since it began operations in 2006. It supports the ruling of the Mexican tribunals in putting an end to this project, calls upon the relevant Mexican authorities to enforce this ruling and demands that New Gold-Minera San Xavier respect the laws of Mexico."
http://www.minesandcommunities.org/article.php?a=9627
[Edit]
- Well........ -- Hambone, 11:27:53 11/19/09 Thu
tried to buy more UXG 2.81
Wouldn't give it to me.
[Edit]
- mikikis- it's not that hard to find the facts in the matter -- mugwump, 11:26:55 11/19/09 Thu
well, the facts interfere with your hypotheses
Following a ruling by the Federal Court of Fiscal and Administrative Justice, SEMARNAT, the Mexican government's environmental protection agency nullified the mine's Environmental Impact Statement ("EIS") which was issued in 2006. PROFEPA, the Mexican environmental enforcement agency, issued the order requiring MSX to suspend mining as a consequence of the nullification of the EIS.
MSX has appealed the decision of the Federal Court of Fiscal and Administrative Justice and intends to pursue all legal avenues with respect to the recent actions of both SEMARNAT and PROFEPA. New Gold is seeking immediate remedies. MSX has also filed a new EIS with SEMARNAT.
"This is a continuation of a decade of challenges from a group of individuals largely from outside the area who are opposed to the mining operations at Cerro San Pedro. We are taking all possible steps to respond to challenges to our legal ability to operate the mine, and believe that we will resume full operations" says New Gold CEO Robert Gallagher.
New Gold's Cerro San Pedro Mine has been operating in full compliance with required permits and government authorizations. The mine has had excellent operational performance in 2009 and has an enviable record of meeting its environmental and social responsibilities. The company will continue to actively safeguard the environment and enhance the lives of residents of communities around the Cerro San Pedro Mine.
New Gold will continue to provide updates on this matter.
[Edit]
- Annoying CAD screwing it all up for me -- Mikikis, 11:23:38 11/19/09 Thu
Gold off over $20 USD and coins in CAD still going UP....aargh.....
[Edit]
- Glyndwr -- Mikikis, 11:22:10 11/19/09 Thu
If they hold the overall markets from crashing...which they always seem to be able to do...then it makes perfect sense that 1130 will not break......
[Edit]
- More prime mortgages are sinking into delinquency/foreclosure -- RIP, 11:20:59 11/19/09 Thu
http://finance.yahoo.com/news/Foreclosures-hitting-more-apf-24626172.html?x=0&sec=topStories&pos=1&asset=&ccode=
That's GATA be because there's too much money.
[Edit]
- foreclosures- parabolic rise -- mugwump, 11:20:50 11/19/09 Thu
hey uncle ben- let's try negative interest rates
you PAY me to take out a loan
http://www.financialsense.com/fsu/editorials/brochert/2009/1118.html
[Edit]
- Apollo - Mexico mining -- Mikikis, 11:20:30 11/19/09 Thu
I can tell you this much without knowing many of the details of this particular case......
If they were unable to bribe their way out of this it means that the environmental damage was very significant and they truly deserved what they received. Not so difficult to implement a few measures to not totally destroy the area where you are mining....most companies have moved forward with cleaner mining.
[Edit]
- I'm buying Dec Glod here.. -- Glyndwr, 11:15:19 11/19/09 Thu
My ST lines say 'Yes' - anything near 1130 .. We'll see.
[Edit]
- Would not be good for the industry if Mexico starts to put the hurt on miners -- APOLLO, 11:14:52 11/19/09 Thu
UPDATE 1-New Gold shuts mine after Mexico court ruling
Thu Nov 19, 2009 10:09am EST Email | Print | Share| Reprints | Single Page[-] Text [+]
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* Cerro San Pedro mine suspended after ruling
* Gold recoveries from mined ore continuing
* Shares down 17 percent
TORONTO, Nov 19 (Reuters) - Shares of New Gold Inc (NGD.TO) dropped more than 17 percent on Thursday after the company said it had suspended mining at its Cerro San Pedro mine in Mexico following an order from authorities in the country.
In a statement, the Canadian company said it was pursuing all legal appeals and cooperating with Mexican authorities following the order, which was issued on Wednesday.
New Gold said mining has been stopped, but gold recovery continues from mined ore.
It said the Mexican environmental protection agency nullified the mine's 2006 environmental impact statement following a ruling by a Mexican federal court.
New Gold said the mine, which was expected to produce between 90,000 and 100,000 ounces of gold this year, has been operating in full compliance with required permits and government authorizations.
New Gold's shares were down 78 Canadian cents at C$3.76 on the Toronto Stock Exchange. ($1=$1.07 Canadian) (Reporting by Cameron French, editing by Gerald E. McCormick)
[Edit]
- nov 23rd for that option expiration 74 tons @ $1200 strike -- BUFFORD, 11:10:56 11/19/09 Thu
see commodity sec
http://www.cfsfutures.com/images/E0067301/Gartman111909.pdf
[Edit]
- MoreGold -- Mikikis, 11:08:05 11/19/09 Thu
Do you sincerely believe that the speculators running gold up are different than the speculators running the Dow right now?
[Edit]
- the buying opportunity you've been waiting for -- mugwump, 11:06:42 11/19/09 Thu
http://news.goldseek.com/BullionVault/1258640398.php
[Edit]
- Hambone - Stronger dollar -- WALIAC, 11:06:12 11/19/09 Thu
Maybe because word got out that it's partially backed by tungsten.
Hey, it's better than Timmy's word.
[Edit]
- @ OH What A Surprise!!! Crapex Usual Paper Manip Check ... -- MoreGold, 11:05:47 11/19/09 Thu
[Edit]
- Hambone -- Mikikis (), 11:03:29 11/19/09 Thu
They would have to run people out of the markets to get the USD higher......not sure that we have arrived at that point yet....of course I don't think it is far off at all really.....
Would be a nice change of pace to see a 4-5%+ drop in the Dow in one day....
Last edited by author: Thu November 19, 2009 11:04:11
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[Edit]
- DRV also up ... 6.5% -- Sherlock (), 11:00:51 11/19/09 Thu
3X RE bear ETF . Just some short ETFs to keep and eye on, if not take positions. Always good to have a little protection.
Last edited by author: Thu November 19, 2009 11:02:12
Edited 1 time.
[Edit]
- The dollar -- Hambone, 11:00:05 11/19/09 Thu
Other than profit taking on the short side, I see nothing to indicate a stronger dollar.
[Edit]
- AUS and CAD really getting hit hard today -- Mikikis, 10:59:55 11/19/09 Thu
AUS down 1.7%, CAD down 1.25% against the greenback.
[Edit]
- FAZ up almost 6% -- Sherlock, 10:55:59 11/19/09 Thu
SDS +3.72%...TWM +6%... DUG +5%...DZZ +3%
[Edit]
- Gold almost red in CAD -- Mikikis (), 10:54:32 11/19/09 Thu
'bout time.....now let's have a bit of correcting....
Gold $23 USD off the top yesterday......good start.
Last edited by author: Thu November 19, 2009 10:55:05
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[Edit]
- Apollo / Been buying -- Sherlock, 10:51:34 11/19/09 Thu
Not me... I don't like the looks of this. It's been a nice run in the PMs and the stock market. But when investors try to head for the exits all at the same time, it tends to get ugly. Fear and greed and all that.
[Edit]
- guessing where the stops are -- Miniminer, 10:48:59 11/19/09 Thu
I'd have to guess the stops are set at dow 10,000 and gold 1032 and silver $17 but only guessing here and would take a disaster to drop that far and fast today.
[Edit]
- Well...... -- Hambone, 10:47:05 11/19/09 Thu
bought some more UXG. They shorted it. Look for another swoon of sorts.
[Edit]
- I have been buying -- APOLLO, 10:43:26 11/19/09 Thu
This is hardly a wipe-out. Willing to take this trade into Monday - stops are in of course.
[Edit]
- PM stocks -- Sherlock, 10:39:00 11/19/09 Thu
Some bargain hunters are stepping in. We'll see.
[Edit]
- timmy -- Sherlock, 10:35:52 11/19/09 Thu
Being taken to the woodshed... A congressman just asked him to step down. Heh heh ! I love it ! Timmy may break out in tears any second....http://www.bloomberg.com/avp/avp.htm?clipSRC=LiveBTV
[Edit]
- Dr. Niman flu interview -- Mikikis, 10:26:37 11/19/09 Thu
http://cdn1.libsyn.com/pidradio/vftb023.mp3?nvb=20091119144627&nva=20091120145627&t=0d3fc7c030aa0787e2647
[Edit]
- More and more, it seems... -- Glyndwr, 10:25:22 11/19/09 Thu
Gold in hand IS the Last Bastion.
[Edit]
- Gold extends loss after mortgage, indicators data -- Sherlock, 10:19:12 11/19/09 Thu
By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- Gold futures modestly added to losses Thursday after the release midmorning of three sets of economic data. Gold for December delivery lost $5.60 to $1,135.6 an ounce, down from $1,135.9 ahead of the data and a settlement of $1,141.2 an ounce at the close of the prior session. The Conference Board's index of leading economic indicators rose 0.3% in October, less than the 0.4% increase predicted by economists. The Philadelphia Federal Reserve's manufacturing index rose more than anticipated to 16.7 this month from 11.5 in October. Yet another report showed mortgage delinquencies rose to a new record. The dollar added to gains.
[Edit]
- Here's Timmy Live now... -- Sherlock, 10:17:12 11/19/09 Thu
Live now...http://www.bloomberg.com/avp/avp.htm?clipSRC=LiveBTV
[Edit]
- UPDATE 1-New Gold shuts mine after Mexico court ruling -- Sherlock, 10:14:18 11/19/09 Thu
TORONTO, Nov 19 (Reuters) - Shares of New Gold Inc (NGD.TO) dropped more than 17 percent on Thursday after the company said it had suspended mining at its Cerro San Pedro mine in Mexico following an order from authorities in the country....
http://www.reuters.com/article/marketsNews/idCNN1916961920091119?rpc=44
[Edit]
- NGD -- Hambone, 10:11:20 11/19/09 Thu
Really taken to the woodshed.
[Edit]
- Philly Fed index rises to 16.7 in November -- Sherlock, 10:07:09 11/19/09 Thu
By Rex Nutting
WASHINGTON (MarketWatch) -- Manufacturing activity expanded for the fourth consecutive month in the Philadelphia region in November, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed index improved to 16.7 from 11.5. The new orders improved to 14.8 and the shipments indexes rose to 15.7. The employment index increased to negative 0.5%, showing continued, but smaller job losses. Any reading over zero indicates more firms reported improving conditions compared with last month than reported things were getting worse.
[Edit]
- Panel limits Fed's lender authority to $4 trillion -- Sherlock, 10:05:44 11/19/09 Thu
By Ronald D. Orol
WASHINGTON (MarketWatch) - The Federal Reserve's lender of last resort authority would be limited to $4 trillion, according to a provision approved by a key congressional committee on Thursday. "It's good to tell the American people that while the lenders of last resort's authority is enormous it is limited," said Rep. Brad Sherman, D-Calif., the measure's sponsor.
[Edit]
- Mortgage delinquencies break record: MBA -- Sherlock, 10:04:15 11/19/09 Thu
MBA: 14.41% of mortgages at least one payment late
[Edit]
- Stocks, Commodities Fall as Dollar Rebounds, Treasuries Gain -- Sherlock, 09:59:07 11/19/09 Thu
Nov. 19 (Bloomberg) -- U.S. stocks extended a global drop as Bank of America Corp. downgraded chipmakers and concern grew that the rally has outpaced the prospects for economic growth. The yen and the dollar strengthened against high-yielding currencies, commodities declined and Treasuries rose.,,,http://www.bloomberg.com/apps/news?pid=20601103&sid=aub5OYZ78nE8
[Edit]
- SMs - Looks like a 'Black-box' Bull Raid to me. -- Glyndwr, 09:58:03 11/19/09 Thu
As expected by several here, re. valuation etc. comments.
Gotta feeling 10K partyhats in their sights again..
[Edit]
- Couple charts -- philbond007 (), 09:49:02 11/19/09 Thu
Last edited by author: Thu November 19, 2009 09:50:28
Edited 1 time.
[Edit]
- Well...... -- Hambone, 09:46:06 11/19/09 Thu
So far, looks like a rough ride today.
[Edit]
- There it is again ! -- Sherlock, 09:45:44 11/19/09 Thu
super-leverage on the way down...GLD-0.78%....GDX -3.85%... I hope you guys took profits yesterday.
[Edit]
- SMs - shocking... -- Glyndwr, 09:44:20 11/19/09 Thu
'Crashy' smells.. bbl
[Edit]
- SKI -- Hambone, 09:38:00 11/19/09 Thu
Somehow he manages to say he got it right. You figure it out.
http://www.321gold.com/editorials/kern/current.html
[Edit]
- At the release - Santelli -- Glyndwr, 08:43:24 11/19/09 Thu
does another good job of opening minds.. bbl
[Edit]
- Figgers - 8:30 on. -- Glyndwr, 08:21:50 11/19/09 Thu
http://www.bloomberg.com/markets/ecalendar/index.html
[Edit]
- POG - This is a great performance, relatively. -- Glyndwr (), 07:52:32 11/19/09 Thu
Beware Glodstox buys today though, unless SMs recover, imo.
(Edit - referring futures here).
Last edited by author: Thu November 19, 2009 08:15:16
Edited 1 time.
[Edit]
- paulson makes a big bet on gold - mugwump -- Submariner, 08:08:55 11/19/09 Thu
"The gold fund will invest in gold-related shares and gold derivatives and..."
Is he any relation to Hank?
Both like derivatives.
Be afraid. Be very afraid.
[Edit]
- --Martin Armstrong's real estate forecast---down till 2033 -- Winston, 07:38:03 11/19/09 Thu
in Scribd format http://www.scribd.com/doc/22733555/A-Forecast-For-Real-Estate
[Edit]
- Hey Delta my old friend -- GlodCoaster, 07:05:04 11/19/09 Thu
any hot tips from the Aussie side?
[Edit]
- This pullback was needed & IMHO -- GlodCoaster, 07:03:48 11/19/09 Thu
confirms the strength of this historic gold bull run. My e-wave friend is very bearish (they'll all run back into the USD) but I think he has underestimated the strength of it.
http://isht.comdirect.de/html/detail/main.html?hist=5d&sSym=GLD.FX1&DEBUG=0&ind0=VOLUME&sCat=IND&sIsin=n%2fa&sTab=bigchart&sWkn=n%2fa&type=CONNECTLINE
[Edit]
- China slams U.S. Federal Reserve's low interest rates -- doran, 06:49:39 11/19/09 Thu
http://www.usatoday.com/money/world/2009-11-17-china17_ST_N.htm
[Edit]
- U.S. mortgage applications drop even as rates fall -- doran, 06:48:00 11/19/09 Thu
http://www.reuters.com/article/economicNews/idUSNYS00754620091118
[Edit]
- you guys REALLY need to perk up .. -- Delta-au, 06:37:24 11/19/09 Thu
enuff with the doom & gloom ..
..
well, bbml ..
[Edit]
- roving reporter -- johnny, 06:14:41 11/19/09 Thu
http://www.myshtetl.co.za/category/site-section/leisure/arts/reviews/only-known-us-jewish-lynching
things werent always so groovey
[Edit]
- GOP senators block effort to freeze credit card interest rates -- doran, 06:09:07 11/19/09 Thu
A Rasmussen poll released Tuesday shows that about half of Americans -- 50 percent -- saw their credit card interest rates go up in the past six months.
http://rawstory.com/2009/11/gop-senators-blocking-effort-freeze-credit-card-interest-rates/
[Edit]
- Loans decline tells the story -- doran, 06:04:34 11/19/09 Thu
A 20% year-on-year decline in commercial and industrial loans does not look like a recovery. In fact, it looks like nothing we have seen since the Great Depression. - David Goldman
http://blog.atimes.net/?p=1236
[Edit]
- will china buy more gold?? well, duh.................. -- mugwump, 06:01:14 11/19/09 Thu
http://www.miningmx.com/news/gold_and_silver/China-may-spur-gold-price-further.htm
[Edit]
- Loss-hit JAL too big to fail -- doran, 06:00:41 11/19/09 Thu
Japan Airlines, or JAL, is on the verge of bankruptcy after huge first-half losses, but the government is only too aware that JAL flights account for 60% of the country's total and play a vital role in serving the economy. United States carriers, meanwhile, are circling the near-corpse with interest, as are local unions and pensioners. - Todd Crowell
http://www.atimes.com/atimes/Japan/KK20Dh01.html
[Edit]
- erhe fans- angola wants the eez -- mugwump, 05:56:28 11/19/09 Thu
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43720341
[Edit]
- OECD Doubles 2010 Growth Forecast, Recovery to Widen -- doran, 05:55:09 11/19/09 Thu
http://www.bloomberg.com/apps/news?pid=20601087&sid=axLRIVF3w3Ns&pos=1
[Edit]
- bad news- i can't send a letter to santa -- mugwump, 05:54:21 11/19/09 Thu
http://www.foxnews.com/story/0,2933,575686,00.html?test=latestnews
[Edit]
- Has Merika contracted the 20 year (Japanese ) flu? -- nogtans, 05:42:10 11/19/09 Thu
no growth , zero interest , nobody interested
http://www.moneyweb.co.za/mw/view/mw/en/page292676?oid=331545&sn=2009%20Detail&pid=287226
[Edit]
- Random thoughts -- nogtans, 05:33:06 11/19/09 Thu
my next car, I like this bit best "this car will blow your hair back and your skirt up."
http://www.women24.com/Content/HomeAndAway/Motoring/2535/4ead449716894066b2d3118cc6d8405c/19-11-2009-09-50/The_Car_Diaries_%e2%80%93_Subaru_Impreza_WRX
this bloke has had fun , what does his wife do in the meantime?
http://www.gotravel24.com/theme/adventure/mike-horn-one-one
he has a point to a certain extend - and I hate his guts for it
esp re John Smith , a revamped hooker , the weak link in this Springbok scrum
http://www.sport24.co.za/Content/Rugby/BoksOnTour/3474/42cdcb7d3ec7421b9d1d96feb545c39d/19-11-2009-11-00/Bok_props_and_scrum_ridiculed
[Edit]
- tungsten is cheaper .. -- Delta-au, 05:30:30 11/19/09 Thu
go W !
[Edit]
- Hey Johnny! -- nogtans, 05:22:13 11/19/09 Thu
amazing investigative surfing from the lair near Paarl Rock! WTF did you find this link to the the realm of the jewish innard?
Zapiro is a genius
Rape of justice is a classic, though plagiarism , very courageous
but still to a certain extend his masters voice , which I suspect is the non Xhosa fraction in ZAR politics eg Ramaphosa, Sexwale etc
[Edit]
- the folks I have been telling to buy gold for 12 years -- Nuclearson, 05:10:35 11/19/09 Thu
that never bought now say it is too high to buy...
but they are considering silver..
[Edit]
- bird's eye sold -- mugwump, 05:04:25 11/19/09 Thu
http://online.wsj.com/article/SB10001424052748704204304574544791538756158.html?ru=yahoo&mod=yahoo_hs
[Edit]
- motley fool calls gold the 800 pound gorilla-lol!! -- mugwump, 04:59:21 11/19/09 Thu
http://www.fool.com/investing/general/2009/11/18/wrap-your-head-around-gold.aspx
[Edit]
- paulson makes a big bet on gold -- mugwump, 04:56:44 11/19/09 Thu
http://online.wsj.com/article/SB10001424052748704533904574543713428787876.html?ru=yahoo&mod=yahoo_hs
[Edit]
- Nuc -- morbius, 04:51:28 11/19/09 Thu
10Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
11And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:
[Edit]
- good news!! polar bears can walk from alaska to siberia -- mugwump, 04:47:29 11/19/09 Thu
and never get their paws wet
http://igloo.atmos.uiuc.edu/cgi-bin/test/print.sh?fm=11&fd=18&fy=1980&sm=11&sd=18&sy=2009
[Edit]
- "Yes, New York City is the financial center of world, but for fraud." -- Nuclearson, 04:46:15 11/19/09 Thu
Revelation 17:15 Then the angel said to me, "The waters you saw, where the prostitute sits, are peoples, multitudes, nations and languages. 16 The beast and the ten horns you saw will hate the prostitute. They will bring her to ruin and leave her naked; they will eat her flesh and burn her with fire.
[Edit]
- debt servicing and reality- hornig -- mugwump, 04:42:15 11/19/09 Thu
As you can see, we project that foreign participation has plateaued. U.S. private domestic investors can probably increase their holdings moderately, now that households are consuming less and saving more, and financial institutions have money to invest in Treasury paper. The agencies and trusts (like Social Security) are really not a part of the equation, but rather reflect programs on “auto-pilot” and quickly headed to the point where they will negatively impact, not help, the deficits.
Adding it all together, even under the most conservative of assumptions, there are simply not enough buyers to cover the accelerating federal deficits. That leaves the lender of last resort, the Federal Reserve, as the only remaining candidate to satisfy the government’s grotesque appetite for funding. There is no viable alternative.
The Fed will take up the slack in the only way open to it, by printing money out of thin air and exchanging it for promises from the Treasury. That means an escalation of monetary inflation and, somewhere down the road, serious price inflation as well. We don’t know exactly when that will happen, only that it must.
The editors of The Casey Report have been alerting subscribers to this very possible scenario for quite some time. If foreigners stop buying U.S. government debt, the whole house of cards will come crashing down. But you can do a lot to protect yourself financially – run with the trend instead of swimming against it. Find out more about the accurate predictions of trend hunter Doug Casey and his team, and how to profit from them… click here.
[Edit]
- island Dweller...interest that thay still -- Nuggets, 04:37:51 11/19/09 Thu
use that method of safety box...Back in '88 we retired, sold up & needed to store some "stuff" in the Bank..same thing, buy a tool box & a lock, accessible to any of the staff, & they all commented on the weight....
Not a Good Idea..I won't repeat.
[Edit]
- politicians are worreid about peak oil, not climate- mckillop -- mugwump, 04:37:09 11/19/09 Thu
To be sure, the fond hope is that 'green energy', notably the non-hydro or 'new' renewables, and to some extent energy saving could quite quickly replace or economize oil in the economy. Selling this to a recalcitrant mass consumer public totally hooked on oil-based consumer goods and services supposedly requires the big stick of Climate Apocalypse fantasy, rather than informing the same public of peak oil reality. In turn, this makes the likely failure of the COP15 'climate summit' problematic for the image management of OECD political leaderships, terrified of losing face.
Likely the most basic reason for studiously ignoring peak oil and making sure any comment or data on this subject can be contradicted or denied derives from the real world, real economy dependence on oil of the 'postindustrial' consumer societies of the OECD. Today, compared with 1979, this remains high, even if oil's part in total energy consumption has slipped, as gas, coal, hydro and nuclear energy, and to a small extent the non-hydro renewables have reduced the percent share of oil. This however sidelines one major fact which can be measured. Total oil consumption, and total oil imports of the OECD economies have in general and on average increased since 1979, in some cases doubled (100% growth), sometimes in less than 15 years. Those countries that have decreased their oil consumption in absolute terms are the minority. This reinforces the careful ignorance of oil dependence and the reality of peak oil, but in no way prevents (in fact guarantees) the coming progressive and long-term reduction in world oil supply. Replacing or substituting oil with 'other energy sources' will soon need open and real debate, when the sideshow of Global Warming apocalypse collapses from lack of public conviction, and lack of fact.
[Edit]
- .. -- Delta-au (), 03:24:17 11/19/09 Thu
..
Last edited by author: Thu November 19, 2009 04:32:24
Edited 1 time.
[Edit]
- rubino -- mugwump, 04:29:26 11/19/09 Thu
But he also does a good job of laying out the substantive argument for a currency crisis. Readers, for instance, find out that with the explosion of government borrowing and unfunded liabilities, U.S. debt now totals $1.3 million per family of four. And that the Fed is in reality a cabal of global banks that tricked the U.S. into giving it control of the money supply back in 1913. The chapters covering the history and function of money introduce concepts like fractional reserve banking and recount some of the past episodes of hyperinflation. And the quotes Goyette uses to illustrate his points are well-chosen, ranging from Austrian economists to Fed governors. This one from Ludwig von Mises introduces the "crack-up boom":
They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears. Everybody is anxious to swap his money against "real" goods, no matter whether he needs them or not, no matter how much money he has to pay for them. Within a very short time, within a few weeks or even days, the things which were used as money are no longer used as media of exchange. They become scrap paper. Nobody wants to give away anything against them.
That, says Goyette, is the dollar's future. And with monetary chaos will come authoritarian government. He devotes a chapter to speculation about the forms of coercion to which Americans will be subjected in coming years, which is effective both because of its clarity and because it shows how similar things have already happened and/or are being considered today. Here's a sample:
[Edit]
- browne -- mugwump, 04:26:58 11/19/09 Thu
America is at a crossroads. It is important in these times to have leaders we can trust to make the right decisions, even if they are unpopular. Obama, Bernanke, Reid, Dodd, Pelosi, Frank... These are not names that are trusted to make wise choices over expedient ones. The markets know it; the voters know it; and, judging by the price of gold, the rest of the world knows it too.
[Edit]
- nichols shows up -- mugwump, 04:22:58 11/19/09 Thu
http://mineweb.co.za/mineweb/view/mineweb/en/page31?oid=93247&sn=Detail
[Edit]
- pemex reserves to drop for 11 th straight year -- mugwump, 04:18:48 11/19/09 Thu
well, they're consistent
http://www.bloomberg.com/apps/news?pid=20601086&sid=afVDMQqRtJSI
[Edit]
- need a job? edmonton is hiring -- mugwump, 04:15:57 11/19/09 Thu
http://www.edmontonsun.com/money/2009/11/18/11784891-sun.html
[Edit]
![[Most Recent USD from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
