The big O gave his blessing tonight to the Banks Bonuses in exchange for a small fee to cover the tarp money they did not pay back. Sounds perfectly fair to me……….not. In fact, the bank fees probably don’t even cover the interest on the tarp money………and the bonuses are enormous.
The HUI bottomed in October 2008 at 150.
Since that time, we have now had an incredible 12 major corrections in just 15 months, despite the fact that the HUI is now 385, or 156% higher!
Here is a list of these corrections, each one of which was frustrating and blood-curdling, and each one of which ended with a strong move back up:
These corrections are horrible, frustrating, infuriating, but they will continue to be part of life until the Cartel is defeated, which I believe will be sooner rather than later. Make no mistake, they are 100% engineered illegally by that Cartel, and each month their desperation and blatancy grows.
And now we have the “Chindia put”, as this is where India bought gold from the IMF and not far from where it was when China announced it had been aggressively acquiring gold.
And even with the corrections, the sector continues to rise, as this certainly is what GATA calls a “controlled retreat.”
Andy
Wednesday, January 27, 2010
The SEC Passes Regulation Which Only STRENGTHENS Case to Own Gold
The following is from www.zerohedge.com/. There is a problem with the link right now so I copied the post:
Suspending Money Market Redemptions Is Now Legel; SEC Approves New Money Market Regulation In 4-1 Vote…Zero Hedge discussed a month ago the disastrous prospects of what would happen if the new proposal contemplated by the SEC, which would allow the suspension of redemptions from Money Market Funds, were to pass. Well, in a nearly unanimous vote, Money Market Funds now have the ability to suspend redemptions, courtesy of the SEC’s just passed 4-1 vote. This explains the negative rate on bills: at this point, should there be another meltdown, money market investors will not, repeat not, be able to withdraw their money purely on the whim of Mary Schapiro. As the SEC noted: “We understand that suspending redemptions may impose hardships on investors who rely on their ability to redeem shares.” Too bad investors’ hardships considerations ended up being completely irrelevant.
Anyone who sees this regulation and feels safe leaving their money in money market funds needs to have their head examined. The “intent” is to prevent a “run” on money market funds when the next crisis hits. Essentially the passage of that regulation signals the high probability of such a crisis happening.
As alluded to in the post, the rate on 1-month T-bills has gone negative today. Think about what this means. When a big investor is willing to invest short term money and have returned less money than was invested just 30 days ago, it tells us that the investor is more concerned about getting his money back than he is about making money on his money. The investor is essentially paying a small fee to insure that his cash is returned with little loss (30-day T-bills would be considered riskless since the Govt can print money to honor the claim). Think about the signal from big investors that is being given here about the perception of systemic risk and the probability of systemic failure. The rate on 30-day bills went negative for quite some time before the collapse of Lehman and AIG.
This phenomenon only strengthens the case that investors should be putting as much as they can into gold and silver as vehicles for protecting and preserving wealth. When you own gold, you are not subjected to, and victimized by, the bad decisions and moral hazards being implemented by our policymakers, many of whom are puppets for the big banks who fund their positions of leadership (see today’s Congressional inquisition of Geithner and Paulson). When you own physical gold in your own possession (or a trusted custodian), your investment does not have any risk of counterparty claim AND you have no Government/SEC restrictions placed on your investment, like the SEC regulation just passed.
I will end with a quote from none other than the king of fiat money, Alan Greenspan, who said on September 9th, 2009: “gold still holds reign over the financial system as the ultimate source of payment.” Keep this in mind when you get your next investment statement from your broker or advisor.
***
As I was finishing up MIDAS yesterday, CNBC trotted out the forever wrong Robert Prechter who said silver topped two months ago, real estate, equities and commodities all going down materially (including Gold) and the only safe haven is the U.S. Dollar.
Heaven help us if the dollar is a safe haven. As if we need another reason for the dollar not to be a safe haven, note the following
I think he just slipped in a couple million dollar ditty for some sandlotters in B.
All I can hear is the printing presses in the background……………
January 27, 2010
Dear C4L Member,
The critical vote for Ben Bernanke will come tomorrow. That’s when the Senate will vote on Harry Reid’s cloture motion.
Please call and email your senators (information is below) and continue to insist:
“No Audit? No Bernanke!”
But we also need to send another message, and that is:
“A vote for cloture IS a vote for Bernanke.”
That’s because some senators are looking to hide behind “voting for Bernanke before voting against him.”
You see, if Reid wins his cloture vote (requiring 60 senators), he only needs a simple majority on the final vote to confirm.
That gives nine senators political cover, while still putting Bernanke back in charge of the Fed — with no transparency.
And they’ll actually think their “anti-Bernanke” vote will make you happy! That’s why it’s so important you call and email your senators now, and make sure they don’t try this cheap trick.
Remind them:
1) “No Audit? No Bernanke!”
2) “A vote for cloture IS a vote for Bernanke.”
Senator Kirsten Gillibrand: 202-224-4451 click to email
Senator Chuck Schumer: 202-224-6542 click to email
C4L has launched a nationwide effort against a bailout for Bernanke, including phone calls, email, and banner ads targeting over a dozen swing-vote senators.
As a matter of fact, you have put so much pressure on the Senate that Politico is reporting today that a senior Obama administration official is asking, “Is the minority [i.e. Republican] leader Ron Paul?”
One of our banner ads even ran with The Huffington Post article describing the cloture deal Senate leadership is trying to cut with fellow Democrats:
After a full year of rope-a-dope and refusing to have his Federal Reserve audited, Ben Bernanke is on the ropes and could be knocked out for renomination.
Now is the time to deal the knockout blow!
Please immediately call and email your senators below:
Senator Kirsten Gillibrand: 202-224-4451 click to email
Senator Chuck Schumer: 202-224-6542 click to email
Tell them that Ben Bernanke must not be confirmed without an up or down, roll call vote for Audit the Fed on the Senate floor.
And make sure they know that a vote for cloture is a vote FOR Bernanke. Remind them that you will hold them accountable for how they act on this critical vote.
This fight comes to a head tomorrow, Thursday. Please call and email now.
In Liberty,
John Tate
President
P.S. Thanks to the efforts of patriots like you, Ben Bernanke’s days of secrecy at the Federal Reserve may be numbered!
Senate leaders are cutting deals to ensure they win the cloture vote, but you can make the difference by contacting your senators immediately and telling them to vote NO on cloture!
TAM acquires NEM half mill oz resource lock, stock and barrel.
Might buy some more TAM & glad to be out of (local) NEM, I might add 
(snip from .pdf)
TANAMI GOLD NL TO ACQUIRE GROUNDRUSH GOLD PROJECT FROM NEWMONT
A$22.00M ACQUISITION UNDERPINS STRATEGY TO LIFT GOLD PRODUCTION TO +200,000oz PER ANNUM WITHIN TWO YEARS
KEY POINTS:
• Tanami Gold agrees to acquire the Groundrush Gold Project in the Northern Territory from Newmont Asia Pacific for A$22M.
• The Groundrush Gold Project forms part of the Tanami and Barrow Creek Divestment Packages, which are being jointly acquired by Tanami Gold and its strategic exploration partner ABM Resources for a total of A$32.775M.
• The Groundrush Gold Project includes:
o Over 500,000oz of JORC Code compliant Resources
o The 1.2Mtpa Groundrush treatment plant and extensive support infrastructure
o A world‐class 2,000km2 exploration package
o 2.1Moz historic production endowment within the Groundrush Gold Project Mining Lease area
• The Groundrush Gold Project provides a significant diversification and growth opportunity alongside Tanami Gold’s 50,000oz per annum Coyote Gold Mine.
• Following the acquisition, Tanami Gold is aiming to increase production from its combined tenement holdings to over 200,000oz per annum within two years.
Many coming into the “buy” zone IMO (I’ll start putting money where my mouth is )
the Crooks are going after the Euro hard tonight - maybe it will change by morning!
Great idea!… but don’t let them keep you in a cage! 
India will launch its first manned space mission in 2016 in a bid to match space pioneers such as Russia and the United States, a top official said Wednesday. The government had already approved plans for a human space flight project by the Indian Space Research Organisation (ISRO), and last year gave the go-ahead for funding of around 2.8 billion dollars.
ISRO chairman K. Radhakrishnan said the agency would develop the space module for the programme within four years.
“We are planning a human space flight in 2016, with two astronauts who will spend seven days in the Earth?s lower orbit,” Radhakrishnan told reporters at ISRO headquarters in Bangalore.
The space agency will also establish a facility in Bangalore for training the astronauts and build a third launch pad at its spaceport in the southern state of Andhra Pradesh.
In September, India’s Chandrayaan-1 satellite discovered water on the moon, boosting India’s credibility among established space-faring nations.
India began its space programme in 1963 and has developed its own satellites and launch vehicles to cut dependence on overseas agencies
I’ll go up there and live year round - wear the groundhog outfit on Feb 2nd - and reap all the benefits of living high on the hog (so to speak)!
“PETA” What a bunch of dweebs! That’s got to be one of the most pampered animals in the universe. Sheesh
Yeah and she is my sweetey too……Gold is ready to go….UP
That Farmgal is one smart lady!
Well itlooks like I won;t be watching the state of the union speech either…Farmgal said let me save you the time”the State of the Union sucks”" we are watching NCIS haaaaaaaaa
Alright I will watch it for you…..but then you must do phone stuff with Bertha and get her off my back.tonight..you know just keep her entertained for a while..haaaa
I had rather be waterboarded than watch one minute of Obama-Pelosi-Reid tonight. In fact I will do everything in my power to not see any of it on the news or anywhere else.
PUNXSUTAWNEY, Pa. —
The Associated Press
An animal rights group wants organizers of Pennsylvania’s Groundhog Day festival to replace Punxsutawney Phil with a robotic stand-in.
According to the long-time tradition, if Phil the groundhog sees his shadow on the Feb. 2 unofficial holiday, then there will be six more weeks of winter. If he does not appear to see his shadow, there will be an early spring.
People for the Ethical Treatment of Animals says it’s unfair to keep the animal in captivity and subject him to the huge crowds and bright lights that accompany tens of thousands of revellers each year in Punxsutawney, a tiny borough about 105 kilometres northeast of Pittsburgh. PETA is suggesting the use of an animatronic model.
But William Deeley, president of the Inner Circle of the Punxsutawney Groundhog Club, says the animal is “being treated better than the average child in Pennsylvania.” The groundhog is kept in a climate-controlled environment and is inspected annually by the state Department of Agriculture.
Mr. Deeley says PETA isn’t interested in Phil from Feb. 2 on, and is looking for publicity.
Nice …now have you got one of Gary Indiana
