Oldtent Archives 2010

www.telegraph.co.uk/topics/weather/6921281/Britain-facing-one-of-the-coldest-winters-in-100-years-experts-predict.html

GATA Lawsuit Versus The Federal Reserve System

Bill,
I would like to point out that Alan Greenspan lied when he wrote to Senator Bunning and said

QUOTE

“The Federal Reserve owns no gold and therefore could not sell or lease gold to influence its price. Likewise the Federal Reserve does not engage in financial transactions related to gold, such as trading in gold options or other derivatives. Most importantly, the Federal Reserve is in complete agreement with the proposition that any such transactions on our part, aimed at manipulating the free price of gold or otherwise interfering with the free trade of gold, would be wholly inappropriate.”

END

The Federal Reserve owns ALL the US gold because it has been given as collateral against the issuance of Federal Reserve Notes that the US Government uses to fund its never ending budget deficits. This is from the Federal Reserve Annual report….

QUOTE

Payment for the gold certificates by the Reserve Banks is made by crediting equivalent amounts in dollars into the account established for the U.S. Treasury. These gold certificates held by the Reserve Banks are required to be backed by the gold of the U.S. Treasury. The U.S. Treasury may reacquire the gold certificates at any time and the Reserve Banks must deliver them to the U.S. Treasury. At such time, the U.S. Treasury’s account is charged, and the Reserve Banks’ gold certificate accounts are lowered. The value of gold for purposes of backing the gold certificates is set by law at $42-2/9 a fine troy ounce. The Board of Governors allocates the gold certificates among Reserve Banks once a year based on the average Federal Reserve notes outstanding in each Reserve Bank.

END

The gold may (or may not) be held physically by the Treasury but its “title” has been transferred to the FED who promises to sell it back at any time for $42.22/oz. The FED and Treasury may hide behind the semantics and legalese but the FED owns the gold and the Treasury claim they own it too!

Look at the assets reported below in the FED’s annual report. They claim gold certificates as assets of 11.037 B$. If you divide by $42.22/oz this is 260 Million ozs of gold, which is 8,134t which is ALL the gold that the US Treasury claims IT owns yet it is residing on the balance sheet of the FED as “gold certificates” that “are required to be backed by the gold of the US Treasury”.

This is why the FED can not answer questions about gold swaps because they have been dealing in gold because all the US gold belongs to them. It has to be returned at any time at a price of $42.22/oz…that would be an interesting challenge to achieve in the open market!
Cheers
Adrian

Closing above its 50 DMA once again and its RSI heading UP and back above 50……room to go UP some more. $1,150, + or - $10??????

JBI

I would but I used the eggs in the chocolate cake… I am bringing one layer over to Andre’s wife …Andre is having a little touch up done on the cement for his second floor tonight using construction lights…he is about 20 feet from ocean……I may go for a dip..an try to catch a lobster….

But one good deal is your scouting report on Nat. Gas good move..Capy Wanka….gold to 1300 soon soon soon. gatta get over that widely .known 1250 number
Gatta go get my swimsuit……

My question to Woodrow was and still is …”Then why the hell did you do it!” and if you felt so sincerely sorry …”Why didn’t you UNDOE IT!……What a jerk

This snow and cold has another downside to it ….FOOD……hmmmmmm idle thoughts…

I wish everyone was kidding - 78 - hummm, you need us to send some heaters down to you? 

www.timesonline.co.uk/tol/news/weather/article6975867.ece

Arctic air and record snow falls gripped the northern hemisphere yesterday, inflicting hardship and havoc from China, across Russia to Western Europe and over the US plains.

There were few precedents for the global sweep of extreme cold and ice that killed dozens in India, paralysed life in Beijing and threatened the Florida orange crop. Chicagoans sheltered from a potentially killer freeze, Paris endured sunny Siberian cold, Italy dug itself out of snowdrifts and Poland counted at least 13 deaths in record low temperatures of about minus 25C (-13F).

The heaviest snow yesterday hit northeastern Asia, which is suffering its worst winter weather for 60 years. More than 25 centimetres (10in) of snow covered Seoul, the South Korean capital — the heaviest fall since records began in 1937.

…

I just got in after numerous errands…Jeez ….is it cold up there? I just read a few posts here …you guys are kidding right?
Howcan this be ..it is 78 here…in fact because it is cool I am baking a cake for the young pregnant girl next store[no wise GR]…

wj

Gorebite* (congelatio in medical terminology) is the medical condition wherein localized damage is caused to skin and other tissues due to extreme cold. Gorebite is most likely to happen in body parts farthest from the heart and those with large exposed areas. The initial stages of Gorebite are sometimes called “Gorenip”.

At or below 0 °C (32 °F), blood vessels close to the skin start to constrict. The same response may also be a result of exposure to high winds. This constriction helps to preserve core body temperature. In extreme cold, or when the body is exposed to cold for long periods, this protective strategy can reduce blood flow in some areas of the body to dangerously low levels. This lack of blood leads to the eventual freezing and death of skin tissue in the affected areas. There are three stages of Gorebite. Each of these stages have varying degrees of pain.

Stage 1
First degree Gorebite causes skin to appear yellow or white. There may also be slight burning sensations. This stage of Gorebite is relatively mild and can be reversed by the gradual warming of the affected area.

Stage 2
Second degree Gorebite develops after continued exposure. This stage is characterized by the disappearance of pain and the reddening and swelling of the skin. Treatment in this stage may result in blisters and it may also peel the skin.

Stage 3
Third degree Gorebite results in waxy and hard skin. It is at this stage that the skin dies and edema may occur as a result of the lack of blood.
If third degree Gorebite is not treated immediately then the damage and the Gorebite becomes permanent, nerve damage will occur due to oxygen deprivation. Gorebitten areas will turn discolored, purplish at first, and soon turn black. After a while nerve damage becomes so great that feeling is lost in the Gorebitten areas. Blisters will also occur. If feeling is lost in the damaged area, checking it for cuts and breaks in the skin is vital. Infected open skin can lead to gangrene and amputation may be needed. Extreme Gorebite without treatment may result in the Gorebitten fingertips or tips falling off, as blood is unable to circulate to the affected areas. Wikipedia

Note: The term Gorebite replaces the antiquated form “Frostbite” after that commie POS Albert Arnold “Al” Gore promised the word catastrophic warmth as a result of non-exsistant global warming and everybody got their GD asses frozen off.

Maybe the glo bull warming spinsters will state something along the lines of “Past records clearly indicate that the planet experiences a brief ‘cooling effect’ before the prolonged heat wave prevails….not unlike a head fake….” LOL

Posted 2010-01-04

Nearly the entire eastern half of the United States is enduring bitterly cold temperatures not experienced since 1985. Even Florida, which has been hovering around freezing levels overnight recently, is also feeling the almost-nationwide chill.

“It’ll be like the great winters of the ’60s and ’70s,” said AccuWeather.com Chief Meteorologist and Expert Long Range Forecaster Joe Bastardi.

The last time a large swath of severely low temperatures struck the nation was in January 1985. That historic arctic outbreak had below-zero temperatures Fahrenheit stretching from Chicago eastward to New York City, and all the way south to Macon, Ga.

While Bastardi says the upcoming days will bring cold not seen since 1985 or 1982, he believes this winter is shaping up much that of like 1977-78. That winter, nearly all of the United States east of the Rockies had a cold October followed by a warm November, with the cold returning in December.

What is most interesting in this case is what followed, where the months from January through March can all be classified as very cold, relative to normal.

“If it stays this cold for this long, will the groundhog even want to come out on Feb. 2?” wonders Senior Vice President and Chief Meteorologist Elliot Abrams.

This winter has already been rough for many areas of the country, with several blizzards dumping high accumulations of snow upon the Plains, mid-Atlantic and New England.

The cold air currently streaming across the Upper Midwest into the East and South will only compound the winter problems of the nation, especially since these depths have not been experienced across such a wide area simultaneously in decades.

Over the past 20-plus years, when below-normal cold periods have arrived in the winter they tend to have been limited to one region, according to Bastardi.

Temperatures have not been this low since the winter of 2002-03, which is known as the benchmark for frigid conditions in the last decade. However, that year the cold was not as widespread as what is happening now.

With the entire eastern half of the country in the throes of this arctic snap, this is shaping up to be the coldest winter in many people’s memories.

www.rutilusallec.com/?p=5240

www.organichealthwellness.com/?p=1067

www.afterdowningstreet.org/node/48911

U.S.-led troops recently dragged eight sleeping children out of their
beds, handcuffed some of them, and shot them all dead.

NIA is pleased that its latest stock suggestion China Sun Group (CSGH) reached a high of $2 today up 24% since our profile on December 14th at $1.61.

We would like to provide you right now with the 10 most important NIAnswers that we have recently added to our database. Please take the time to read and enjoy!

- - 1 - - What do you think about Elliot Wave theorists like Robert Prechter and Harry Dent who say we’re in the 3rd wave down in a Grand Super Cycle? They claim that the government will not be able to “print” their way out of the deflation. What are deflationists missing?

The Federal Reserve, if it wanted to, could print the money needed to have the Treasury send a check for $1 million to every U.S. household. In this scenario, would Robert Prechter still believe we will see deflation?

It is not difficult to print your way out of deflation. It is the easiest thing in the world for the Federal Reserve to do. We went through the worst period of forced liquidations in history yet we don’t have lower prices of any consumer goods. What we do have is gold near $1,200 per ounce, which is the best indicator that massive price inflation in consumer goods is coming.

Don’t believe the government’s phony CPI index that says we don’t have inflation. Inflation is already here right in front of our faces.

- - 2 - - Will U.S. coins in circulation today be worth more than their current value during hyperinflation?

Pennies minted before 1982 are made of 95% copper and are already worth about $0.0218. After 1982 they started making pennies with 97.5% zinc and currently they are worth about $0.0065.

Nickels that have been produced from 1946 up until today, have surpassed a value of 5 cents and are now worth about $0.0509.

During hyperinflation, the metal value of all coins will likely rise higher than their denomination values.

For Americans who don’t have the money to buy gold and silver coins, saving up large amounts of nickels, pennies and other base metal coins, may be their next best option.

Please be aware that the U.S. government has made it illegal to melt down nickels and pennies.

- - 3 - - Why is it never mentioned in the mainstream media how Bernanke and others attend the annual Bilderberg Group meetings and about their ulterior motives especially regarding NWO?

We are very concerned about how Ben Bernanke and many government officials can meet together with powerful business leaders in one place yet the mainstream media fails to mention it. It’s obvious that these meetings are used to try and influence national policy decisions. It should be illegal for these meetings to be kept secret with no disclosure to the public of what is said and discussed.

- - 4 - - Would it be better to leave the U.S. now and apply for dual citizenship somewhere such as Australia where the standard of living is better?

We don’t want to encourage anybody to leave the U.S. The purpose of NIA is to educate Americans about the crisis that is ahead, so that hopefully we can encourage our elected officials to reverse course immediately and save the country before hyperinflation arrives.

If you choose to apply for a dual citizenship somewhere, we believe Australia should be one of your top choices. Australia’s central bank was ahead of the curve as the first to raise interest rates. We believe Australia will have one of the strongest currencies and economies for the next decade out of all English speaking countries.

There is currently labor shortages in Australia. Construction is beginning on their largest ever development, the Gorgon liquefied natural-gas project, and there aren’t enough qualified workers.

The Australian government estimates an extra 70,000 workers will be needed for about 80 new resource projects to be developed over the next decade.

- - 5 - - If we don’t see hyperinflation could we still see a substantial increase in the value of gold?

First of all, gold does not increase in value. Gold is real money and when gold rises it is because the dollar is losing its purchasing power. Gold simply retains its purchasing power.

After the really bad inflation of the 1970s, gold rose to a high of $850 per ounce, which is $2,300 per ounce in today’s dollars. We believe inflation will definitely be worse than the 1970s and gold will most certainly rise above $2,300 per ounce.

If we see hyperinflation, then there is no limit to how high gold could go. With hyperinflation, gold could rise to billions of dollars per ounce.

When we speak about gold potentially rising to $5,400 per ounce, we are speaking about a best case scenario for the U.S. economy where Washington reverses course immediately and prevents hyperinflation.

- - 6 - - Is their any information on how gold might act if the collapse of the dollar happens and we move to a new currency called the Amero?

The Amero is just a rumor and any discussion out there in regards to the Amero is nothing but speculation.

If the dollar collapses and a new currency is created, we believe gold will have to play a major roll in backing this currency. Nobody is going to trust a new currency unless it is backed by gold.

Therefore, we believe those who buy gold now will be best off and the creation of a new currency won’t negatively affect gold in any way.

- - 7 - - What will happen to gold’s bull market if the Fed raises interest rates in early 2010?

Anything can happen to gold on a day to day basis. If the Fed raises interest rates, there’s always a chance gold could decline for days or weeks afterwards. However, we don’t believe the Fed raising interest rates will put a damper on the long-term secular bull market in gold.

When the Fed starts raising rates, they will likely ease rates higher very slowly, possibly a quarter basis point at a time. Interest rates of 1% or 2%, although higher than 0%, are still very inflationary.

We would need to see artificially high rates of 10% or more for an extended period of time, to counteract the damage being done today. Of course, that would mean a tremendous increase in the interest payments on our national debt, which we would have no way of paying without printing money.

Therefore, we don’t think it is possible to put a stop to inflation and gold’s bull market unless the government dramatically reduces its size and cuts spending, which we very much doubt will happen.

- - 8 - - I own a $24 million business in telecom and wind energy. Does it make sense to sell now and diversify out of dollar based assets while the business has value allowing me to be flexible and portable?

Right now is a great time to sell a business because bankers have plenty of excess capital on the sidelines looking to use for acquisitions. We believe this is probably just a small window of opportunity. If it was your goal to eventually sell your business to begin with, you should definitely consider selling it now and using the money to diversify into precious metals and mining companies.

Long-term, we are very bullish on the future of the wind energy industry worldwide. However, in the short-term we have natural gas inventories at record highs. Many developers of wind farms are having trouble finding financing and we don’t see the situation improving until natural gas prices rise substantially higher, making wind energy more attractive.

- - 9 - - How much silver would I need to survive per day if hyperinflation hits the U.S.?

If you are supporting only yourself, then you should be able to survive pretty well with an ounce of silver per day.

The current poverty guideline in the U.S. is $10,830 per year in income. However, we all know that’s only enough money for food. To live on your own in the U.S. today you probably need to earn at least $24,000 per year.

1 ounce of silver per day or 365 ounces per year is only worth about $6,200 at $17 per ounce, but we expect to see about a four times increase in purchasing power for those with silver compared to gold.

Therefore, we believe if you have 1 ounce of silver per day, you will be able to afford food, shelter and heat.

- - 10 - - If I were to buy a silver mining company stock and it went up 1,000%, yet the dollar had become worthless wouldn’t the dollars received from selling this investment be worthless offsetting any gains?

It’s possible that there could be some silver mining stocks that gain 1,000% or more with the dollar just losing 50% of its purchasing power. In that case, you could see a tremendous increase in your purchasing power.

If the dollar loses all of its value, companies will likely delist from the U.S. and list on foreign exchanges, allowing you to sell your shares for a more stable foreign currency.

The National Inflation Association
inflation.us

It is important to know that we are not investment or financial advisors. NIA’s web site and newsletter are meant for informational and educational purposes only and should not be used to make investment decisions.

~ ~ ~ ~

JBI

Never fear it’s an emotion ( jinx)  we no longer worry about as all is golden down our road.

And yes there will be violent bumps on the way but we should all be used to that by now.

Sit back and relax enjoy the ride.

(there is no jinx,never was it’s a myth)

I think we may be getting another one of those “gifts of a lifetime” in the foreseeable future, Aggie. The scumbags, I think, are trying to play their usual game and may be getting help from China, who wants nothing more than to buy it all, but at lower prices. I’m keeping my modest amount of gunpowder dry and even thinking of getting out of IAG and EGO in the next few days to raise even more for when the opportunity presents itself. I love SILVER below $21….it’s a steal, almost worse than taking candy from a baby. My old man, may he rest in peace, was right when he would remind me that PATIENCE is truly a virtue worth pursuing, practicing and trying to perfect.

Cheers!

JBI

January 4, 2010 – “Give me control of a nation’s money, and I care not who makes the laws.” Mayer Amschel Rothschild.

This is one of the greatest and longest-lasting bull markets in history. The record is shown below. Ten years of successively rising gold prices. I study the listing, and I ask myself, “What does 10 years of steadily rising gold prices mean?”

Last day of the year quotes (spot gold).

2000 — $273.60
2001 — $279.00
2002 — $348.20
2003 — $416.10
2004 — $438.40
2005 — $518.90
2006 — $638.00
2007 — $838.00
2008 — $889.00
2009 — $1096.50

First, we must understand that gold is the immutable standard against which all other values are measured. The price of gold is the universal standard; it never changes. The price of everything else changes in terms of gold. I study the list above, and this is my conclusion — “What it means is that it requires more dollars each and every year to buy one ounce of gold. In other words, year after year, the dollar is being devalued; the dollar is systematically losing its purchasing power.”

The reason? Too many Federal Reserve Notes (we mistakenly call them “dollars”) are being created by the Fed. The more dollars that are created, the weaker the dollar’s purchasing power. The listing of gold’s annual year-end price is stark evidence of the diminishing purchasing power of the US dollar.

This depressing picture highlights the fact that the government has two ways of robbing the people of the fruits of their labor: (1) taxes and (2) the systematic destruction of the purchasing power of the dollar.

There is only one way out of this slow disaster. Get rid of the Fed and allow the United States to issue its own legal Constitutional money — money which is preferably backed by or convertible into gold.

The year-end closing prices for gold tells the tale that the Fed and the media are afraid to disclose. Did you see a single reference to this ten-year gold story?

Imagine if the S&P had been higher 10 years in a row. It would have made headlines in every newspaper in the land.

What really is inflation? Inflation is the act of printing too much money against too few goods and merchandise. The EFFECT is a rise in the price of everything denominated in dollars — food, medical services, college tuition, homes and real estate. Everything!

Today we have a nasty situation. The banks can borrow for literally zero and lend out money to the government by buying T-notes and T-bonds with yields of near 4% or better. Thus, the banks are thriving on the “yield curve” while the poor slob on the street gets nothing for his savings (assuming he has any savings at all). And when you think about it, why should the banks make risky loans to the poor goof on Main street when they can play the yield curve with almost zero risk?

The more I see gold and silver become increasingly valuable…..the sicker I get about the causes. I’d sell every ounce in a heartbeat if we could clean out the scum running most of the federal govt…..Along with a complete sh*tcanning of the federal reserve system.

All the best.——–aggie.

I sure hope that you have not jinxed us!  The Rally Money has killed us the last few years - let’s hope it is different this time! 

Have you seen the movie,  “WAG THE DOG”?   If not, go rent it. 

Yemen - Albania - now if you see on network news, pictures of a young girl running away from a war torn area carrying a white cat across a burning bridge - well…..