Oldtent Archives 2010

Nowhere did I ever say Dylan Ratigan is a communist ! Where did you get that from ?

Yeah… he can write. At the bottom, here’s what he wrote:

“Many have copied, but few can compete with Gold-Eagle.com for metals market insight, charts, editorials, and a premier Forum.”

Time to fumigate the Tent. Looks like V-ermin have infested.

Was just getting ready to post it from Sinclair.

Not a lot of time left if he’s right!

Dear Comrades In Golden Arms,

Greece will fail and be rescued is all that is discussed in the financial world. Here is the real skinny:

1. Greece getting bailed out means QE (printing of money) to infinity. That means gold would rise from here to $1650 by January of 2011, or as Martin Armstrong said, by June of 2011. The dollar would fall. Equities and commodities would rise.

2. Greece getting flushed means that would enrich the CDS OTC derivative tool. Immediately the next target currencies will be attacked by this tool. Currencies will fall like dominoes. At first the dollar will strengthen, equities will fall and gold will go lower. However, soon the recognition will come that a disaster has occurred that is more serious than the Lehman flushing. Confidence in currencies will fall everywhere. Gold will then rise not to $1650 by the same time in 2011 but to $5000 and perhaps beyond.

Either way both paved the road to a single virtual reserve currency and a single Central Bank (IMF) of Central Banks.

If Greece is bailed out it will take longer for the establishment of the single virtual reserve currency. If Greece is flushed it will happen so fast you will lose your breathe.

Either way I see gold as the only reliable fundamentally correct safe harbor. Gold will play a part at a very high price with the single virtual reserve currency in order to keep gold from being a competitor with it.

Gold’s role will be in the form of the Federal Reserve Gold Certificate Ratio, not tied to the dollar, but rather tied to the single virtual reserve currency in a ratio to a measure of world liquidity. There will be no interest rate automaticity to the new form for gold’s role in a monetary system. It will follow the many articles I have written on the FRGCR but not tied to the dollar but rather the single virtual reserve currency.

Gold will not be fixed or convertible but will trade within a market as a close band of the price gold is trading at when the single virtual reserve currency is created and will lend to this construct some real validity.

I do not favor any of this, but it will occur.

There is no other possibility to this unprecedented calamity at hand.

Respectfully,
Jim

Maybe we can grab the politicians one by one, feed ‘em RNO’s special explosive bean recipe, then float them over toward the Fed and hope for the best, i.e. numerous direct bean-bag hits!  That should fix things but good.

financialsense.com/editorials/vronsky/2010/0301.html

….is your Balloon equiped with a Nuclear Warhead yet ?

….better fly it by robot though….just in case the winds are unfavorable

cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html

looks like smokers Lung !

I like holdings that give access to what uranium-related stocks are going to do. Therefore we still keep our core position in Pinetree Capital and Mega Uranium. I also like our holdings related to natgas and metals; therefore we like Paramount Energy Trust, Iamgold, Northern Dynasty, Taseko, Seabridge, and Silver Wheaton. Other holdings we like and continue to hold I need not mention here since they are unrelated to PMs and other metals nor to natgas. If we were to add to our PM stocks it would be via Seabridge and Claude Resources. Have a good evening. And thank you for giving us Sydney Crosbie for the Olympic grande finale - we owe you one, Nova Scotia.
Cheers. Equiz.
- - .

I do not have cable, and I watch TV for the weather forecast, a bit of local news, and an occasional PBS program.
I read a lot on various internet sites about one TV commentator or another.
IMO. they are ALL misleaders.
If they have a broadcast slot from one of the TV networks, you can be sure it’s to promote views TPTB
deems acceptable/desirable. In other words, it’s to lie, one way or another to distort, or present an incomplete view of a topic.
These commentators are there to entertain and sell advertising - little truth is involved.
Some may hit one or two of your buttons in a way to make you think they are somehow real people, but they are not.
I am amazed at the amount of time wasted discussing these actors, even myself now compelled to put my 2 cents into the mix.

attach a label to someone who happens to have a different view than the label-attacher happens to hold on a given topic. Goltent would be such a happy place if there were fewer label-attachers. Cheers. Equiz.

Totally in agreement with you re: entertainment vs. consistency.  I have nothing against Glenn Beck, he is sharing plenty of useful info with his audience.  I don’t hold it against him that he’s in the entertainment industry, but let’s see if he stays headed in the same direction for any length of time and indicates his level of commitment to moving in the direction we want to go.  He doesn’t have but a tiny smidgeon of the track record that some view as ‘boring’ and ‘old-fashioned’.  Give me the type of old-fashioned, boring, solid, substantive consistency of Ron Paul over any of these young whippersnappers any day of the week!  Bore me to tears of joy with a consistently good message and leave the showmanship to the entertainers and those who simply want to be entertained.  *GB

Dave from Denver…

Tuesday, March 2, 2010
United States: See Your Future…
Through the colorful writing of SocGen’s erudite and perceptive Albert Edwards:

Either governments pursue the path of fiscal rectitude (although it is a bit late for that) and we subside back into recession or we debauch the currency through deficits, the printing press and devaluation.
The FT Alphaville blog offers a fantastic American, de-Anglicized translation of Edward’s wisdom:

SocGen’s Albert Edwards says everyone should just relax and stop worrying about GBK because in an Ice Age a weak currency is the escape route of choice from the deflationary quicksand.
What’s ironic is that the American public and policymakers seem to completely lack the understanding that, since 2002, the U.S. dollar has experienced substantial devaluation, with the dollar index plummeting from 120 to a low of 71 and a current reading of 80.66. That’s drop of 41% from high to low and 33% from high to current. Remember, this drop is measured against a basket of global currencies, predominantly euros, yen and sterling.

Anyone want to take the position that a drop in the U.S. dollar of that magnitude is NOT debasement? Our “future” is here and now. Prepare yourself for serious price inflation ahead.

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…Just trying to fill in the void while we wait for the real TA experts to show up…

Often in bull runs, we see selling in the after mkt…but by morning gold is usually up…in the great bull mkt in stocks in the 1990s the stock index futures were usually down over night-showing skepticism and disbelief…and often the mkt opened down in the morning for the first 20 minutes or hour…then the drooling bargain hunters would rush in and drive the mkt up.

If you intend to be of assistance, your eye is not upon the trouble but upon the assistance, and that is quite different. When you are looking for a solution, you are feeling positive emotion— but when you are looking at a problem, you are feeling negative emotion.

— Abraham

….tell him he’s a Hypermoron !

8:05p ET Monday, March 1, 2010

Dear Friend of GATA and Gold:

GoldMoney founder James Turk, editor of the Free Gold Money Report and consultant to GATA, reports tonight that the Federal Reserve is vastly understating the growth of the U.S. money supply. Turk writes:

“When deposit currency created by the Federal Reserve is added to the traditional definition of M1, M1 after adjustment is actually 170 percent higher at $2,918 billion. Its annual growth increases to 29.5 percent, nearly three times the rate reported by the Fed and, more importantly, an annual rate of growth in the quantity of dollar currency that is approaching hyperinflationary levels.”

Turk’s commentary is headlined “U.S. Dollar Money Supply Is Underreported” and you can find it at the Free Gold Money Report Internet site here:

www.fgmr.com/us-dollar-money-supply-is-underreported.html

Thanks for that very interesting piece from Ackerman…maybe he is right…everything adjusts and no doomsday…that would be great !

…….and you talk about False Labels to create False Enemies !

…….Dylan Ratigan is great….in my books….maybe he is off line on this one show..I dont know…..but generallly he has been a Great TV presence against Goldman and the Gang…

……Throwing Labels around like Communist to describe someone whose view you disagree with is rather hypocritical in lieu of what you just posted…

….and anyhow…the so called Communists ( China and Russia)….seem to have more integrety lately than the So Called Capitalists …

……and they are buying Gold too…so they cant be all bad…

….Ben Stien on the other hand …IMHO…is an idiot….calling Ron Paul Antisemetic is like calling Mandela a Racist

on the reputation of colleages, as I’ve been arguing with the same Carl Denninger for quite while, before he cut me off.

I, personally don’t feel the guy is bringing anything new to the table, nor do I feel he’s the smartest of the smart guys; Oh, he may be a smart guy - just another smart guy - I’d rather not take seriously.

frr

If true freedom is going to survive within you, you have to be willing to fight for it. You have to have a sword in each hand at all times. One sword is for your own mind and the other sword is for everyone else’s mind. You must be ready to use them. Anyone who wants to be truly free must be willing to stand alone in the truth” … Andrew Cohen

GO GATA!!!

“Who’s gonna be the next scrapegoat ? Ron Paul ?”
—————–

Actually yes! He will be blamed by the banksters when they bring the whole system down. They will say “See we told you that auditing the FED would break the system.

Tuesday, March 2nd, 2010

Our Man in China Sees No Global Crash

We occasionally feature here the thoughts of Mario Cavolo, a speaker, writer and media personality who has lived in China for more than a decade. Mario is much more bullish on the big picture than we are, doubting as he does that capitalism and the global economy face a catastrophic collapse.  Instead, he sees the world muddling through its current crises, but within a long-term upward trajectory that will continue to shape a bullish future.  Here’s Mario:

Let’s start with a core economic premise and build a scenario of supporting premises as we ponder the new reality of our global economic future without the rhetorical, crash and doomsday scenarios which almost never play out.  Here is the premise to explore: Nothing will crash or collapse.  Not the Euro, not the USD, not the stock market of this or that country; not anybody’s entire financial system. Assets will swing wildly up and down, systems will change, sometimes dramatically but doomsday collapse is off the table.  People who constantly focus on threats of doomsday this and parabolic that are too addicted to the emotional thrills attached to such moves, or trying to sell you something; rather than applying a more genuine and balanced analysis of the global economic stage which is an increasingly complex, fluid, shifting entity.

Now let us build the supporting premises to see why, keeping in mind the intelligence of an elementary school sixth grader,  to paint a picture of the new reality in the present and for the next 10 years.  The global new reality world is a world with unfathomable trillions of sovereign debt over everyone’s heads. It is an ongoing reality, a big part of our new reality. This has been rightfully called a crisis of Biblical proportions. However, based on our premise for this essay, it is not. We just accept it as the new normal reality. We accept it and we adjust to it. Assets will adjust to it. The system will accept it and adjust to it. Individual assets in the system will respond to it by swinging up or down 30% to 50%, creating significant shifts in society and culture. We can’t make it go away, any more than we can change the color of the sky or the rising and setting of the sun.

So then, applying a little common sense, how will the assets of the world economic system respond to the fact of massive sovereign debt hanging over everyone’s heads in the coming years?

Read the Rest of the Article

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Rick’s Picks For Today

Each day Rick’s Picks subscribers receive Rick’s timely forecasts on a rotating basket of stocks, commodities and futures. Shown below is a randomly chosen sample of what paid subscribers see today. If you’d like to see the rest of Rick’s Picks for today, sign up for a risk-free trial.

ESH10 – E-Mini S&P (Last:1113.75)

The 1118.50 rally target we used yesterday remains valid and may put up some resistance, but because shorts seem to be getting no relief, it’s probably time to consider the larger pattern shown in the chart. It yields an 1137.25  target and an 1111.00 midpoint that has already been breached decisively. If you’re looking for a potentially easy way to get long, use a pullback from just above either of the small peaks recorded on January 21-22.

Other issues covered today (subscribers only):

• NQH10 – E-Mini Nasdaq (Last:1844.00)

• ECH10 – March Euro (Last:1.3540)

• GCJ10 – Comex April Gold (Last:1116.40)

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