Oldtent Archives 2010

http://usawatchdog.com/has-anything-changed-on-wall-street/#more-1423

Tropicana raising orange juice prices
CIGA Eric

PepsiCo Inc (PEP.N) will downsize its 64-ounce cartons of Tropicana orange juice to 59 ounces but leave the price unchanged, after cold weather damaged Florida’s orange crop.

It’s always the weather. The weather shrinks the size that never seems to return to normal after the weather related effects subside.

There’s no inflation, but the size of everything from ice cream to orange juice cartons continues to shrink at the grocery store. Maybe when our portion sizes are the size of a Dixie cup people will equate the ever shrinking shelf size as a consequence of devaluation.

Maybe they are, mate, maybe they are! And if they are indeed buying, do you think they’d be telling us?

I wonder, for example, why Rothschilds resigned their seat at the London Gold Pool a few years ago. IMVHO, it was because they could then act independently, buy gold in secret and never be accused of manipulating the London market to their own ends. It was when they resigned that I knew for absolute certain that I was doing the right thing buying myself.

Whenever you become defensive about anything, know that you have identified with an illusion.

This is a reaction that I’m personally working on.  Especially in the areas of politics and politics masquerading as religion.  Most of us have bought into various illusions and it’s not always easy to step back and observe the ego in charge.

Earthquakes ever if you claim you know the voids you cannot be sure. I saw walls collapsed. He speaks of walls. If the big one goes off no where will be safe. Im sure those that have been  in quakes as bad as the one I was in have a bit of post tramatic lol Im sure most to this day dont like being stuck under or over bridges. And Im sure most would rather be  outside than in a safe zone.The sfae zone would have done me no good or little good if the weole building would of fell I would have had a third story falling on me and falling through another. My mothers two story ranch house was knocked off the foundation three feet and sitting side ways with the balcony about collpsed.Like I siad most survivors Im guessin would want to get out less in bed and took them by surprise. Those on  water beds said they were thrown from one wall to the other lol

Gold Queen you know race religion never used to be my consern but is a bit now because  different religions or clans dont get along  with others as well as well for onstance most Muslims and also Indians will refuse to have a man take care of a female patient. As far as undressing them for instance. So you now have to take those things into consideration. 

I hope he comes back even if it is in a reincarnated state. I’m not his biggest fan but we do need diversity of opinion to have a “real” forum. This is not to say that we shouldn’t follow  a set of guidelines issued by our Moderators. If a “line ” is crossed by any Tenter, our Moderators should give a clear warning to the “individual” that he is crossing the “line” and any further continuation of this will cause him to be bopped. Considering the great job that all our Moderators have done in the past, this is not a condemnation of their work and I appreciate all they have done for the Tent. I am merely making a “suggestion”. That being said, I would also like to see the return of EE and SOEE and EEOS. They have also contributed in their own way and their contribution in the future can help a lot of Tenters in what should a a free for all in stocks and options in the near future.

You’re correct, there’s a fuzzy line regarding profanity and general respect, along with generic spam.

As far as “What if someone disrespects other people and calls them awful names“, our admin would have been booted today under that guideline.

The thoughts are one of the most important parts of health. My sweet personality is one of my secrets. Even though one of my focus’s is the orthomolecular approach, which is totally biochemical based, I use meditation and guided imagery in many forms to work with clients.

I don’t know if thoughts actually turn the blood acid. Interesting question.

There are a few dealers and coin shops, but not because they are gold bugs. They just buy and sell to make profit on the spread. There are many, many beautiful coins and medallions put out by a gov’t held organization which recently went private. A good friend of mine is a goldbug, and he turned me on to it 5 or 6 years ago. He has an ebay store: http://www.menachemcoins.com/, where you can see some of Israel’s stuff.

What about someone who came on your website spouting constant profanity?  What if someone disrespects other people and calls them awful names.  Don’t be silly.  You would boot these people too.  You are lying to yourself it you think otherwise.

PS    Total freedom to say anything you like will never exist here.   If you don’t accept that then I don’t know what to tell you.   I’m off.

Have a great weekend!

Health is a primary interest of yours.  Isn’t it recognized that the way we think has a significant impact on our health?  My understanding is that a person can have a good diet, resulting in neutral or alkaline pH, but the body pH can be instantly turned acidic by thoughts.  Is that your experience?  I don’t have your book, so I don’t know if you’ve written about it.

Yesterday I was asked if I am a psychologist.  My view is that by virtue of the fact we are in human form, we all practice psychology throughout our lives, whether or not we do it intentionally.  Life in large part IS psychology.  What and how we think influences and determines so much of what we experience in life.  It has a big impact on our health.

There’s only one person each of us has a responsibility to watch over and that’s ourselves.  *IF* this place were my responsibility I’d only boot spammers.  How can we learn if we’re protected from the stuff that bothers us?  Isn’t that the same as a welfare state protecting its citizens?

Whomever ate the spell-checker apparently hacked it back up! Thanks to whomever was responsible for its return.

…bwt…I did ask earlier if there are any other Goldbugs in your Country…andy coin shops ?….

….or is it Just You !

Why aren’t any other countries besides China or India considering buying the IMF gold?

Rob Kirby with a fascinating find … not sure if it means anything yet:

Subject: looky here

Go to the Fed’s “flow of funds report” Q4/09 just released toady at this link: www.federalreserve.gov/releases/z1/Current/z1.pdf

Scroll down to page 24 [Flow of Funds with Rest of Word] and observe line # 14 on that page. It states that the U.S. Fed sold 190.7 billion dollars worth of gold / SDRs in Q3/09. 190.7 billion @ 1,000 per ounce would be 5,937 tonnes of gold .

A Chartered Financial Analyst subscriber of mine follows this release every quarter and alerted me to the “back-dating” of the gold sales for Q3/09 in the release today. Note: In the same flow of funds report for Q3/09 at this appended link - there was no mention of gold / SDR sales - period: www.federalreserve.gov/releases/z1/20091210/z1.pdf

I’ve attached the Flow of Funds Report for both Q3/09 and Q4/09 for comparison purposes.

Question: has the Federal Reserve just “papered over” the disgorgement of nearly 6,000 metric tonnes of sovereign U.S. Gold bullion?
best,
Rob Kirby

Rob is all over it to determine if there is something significant regarding gold.

Adrian has been doing some fine sleuth work. As my colleague CP often says, the US Government would rather release information about nuclear bomb secrets than reveal their activity in the gold market. Adrian’s latest efforts will give you some idea what the Fed talks about behind the scenes…

Bill, Chris,
Having dome some more dredging of FOMC minutes here is another discussion about manipulation and suppression of the gold price…which is even proposed to be conducted “on a massive scale”. It is from July 9, 1980…..

www.federalreserve.gov/monetar
ypolicy/files/FOMC19800709meeting.pdf

MR. BAUGHMAN. Is it considered a political no-no to sell gold in the current environment?

CHAIRMAN VOLCKER. Oh, I don’t think so, necessarily. I don’t think it’s a political problem in the sense that you may be suggesting. It’s a question of whether it’s very useful or desirable at this stage. [If we sold gold], we’d have to do it alone; I think that’s pretty clear. It isn’t anything that’s ruled out a priori, but it’s a practical matter of whether it’s a good idea.

MR. BAUGHMAN. Well, it’s between selling assets and borrowing money. That seems to me the significant difference.

VICE CHAIRMAN SOLOMON. The psychology, Ernie, is that [selling gold] seems to be much more effective if it’s a component of an overall package of forceful measures than if it is done by itself. In the present climate it would look like a major act of weakness. And that might spur some additional dollar selling unless we did it on an enormously massive scale, not just the levels that we have before.

On the other hand, if the situation gets to a point where once again we have to begin thinking carefully of a package, then along with some monetary policy measures it would be appropriate and add to the effectiveness–this is my own personal feeling–to do some substantial gold selling. And in that situation I think the Congress would understand that. We’d have less of a political problem also. So I think both factors operate.

CHAIRMAN VOLCKER. I should say, in connection with the political problem, that I don’t think there are any great political constraints so far as the thinking in the Administration is concerned.

There are politicians who would make a noise that would reflect upon the credibility of the action. If we sell some gold and then immediately get some congressional opposition, the market would say:

“Well, they’re not going to sell very much because there’s too much opposition.” And, therefore, it might not be very productive in terms of the impact we’d want to achieve.

MR. BAUGHMAN. There would be some grass roots opposition to it. I can report that, but I don’t have any impression—

CHAIRMAN VOLCKER. Perhaps I spoke a little misleadingly because that kind of opposition, I think, does reflect on the credibility of the action. It raises questions about whether it could be sustained and what the [total] amount would be and whether it’s really an accepted technique or not, even though in some sense I think it’s not a political deal for the Administration except in terms of appraising that reaction. I can’t quite see the Congress opposing it in a formal sense but there would be a lot of noise by these limited groups.

We have to ratify these transactions.

MR. SCHULTZ. So moved.

-END-….

Chris, Bill,
There is more! Here is the recognition of the principle behind announcing 5 million times that the IMF is going to sell gold. In March 1978 FOMC meeting it is stated “That’s why the possibility that gold would be sold caused the gold price to drop by $5. You don’t have to sell gold, you just have to breathe [that you may] one day”…these unelected officials are clearly operating in the best interests of the public!!

www.federalreserve.gov/monetaryp
olicy/files/FOMC19780321meeting.pdf

CHAIRMAN MILLER. The Treasury has severe reservations about it. Originally, two weeks ago, they were taking the position that they would not be in favor of it–that it raised too many problems for them. Since then I think they have become a little more open minded about it.

However, I think the first avenue is apt to be the sale of gold. Sales of gold were under consideration and were deferred partly because of the French elections, which are now over. So I think it’s likely that the Treasury will start a program of selling gold, which I personally would favor. There are a lot of advantages in using gold because at least then we don’t end up with debt and the currency risks that go with it. So I think that’s an avenue that should be pursued. There has been a discussion about the level of gold sales that are possible–what the market can absorb and that sort of thing. Henry can correct me, but I believe the Treasury feels that they could sell about 300,000 ounces a month.

MR. WALLICH. That would be a very moderate amount–something like less than 60 million. And bear in mind that unless they can develop a means of selling the gold for foreign currency in a way that doesn’t cause holders of dollars to buy that foreign currency in order to buy the gold, it could be completely counterproductive. Then there isn’t going to be much of a net effect. There is some because after all we are importers of gold, which may reduce the imports of gold and may make the trade balance look a little better. There is some portfolio shift when there is gold in portfolios instead of dollars, so I wouldn’t say it’s without effect but there are lots of

qualifications on the possible success.

3/21/78 8

CHAIRMAN MILLER. The nice thing about this problem is that it’s surrounded by dilemmas! Everything you do has an adverse effect on something else. Nothing is ideal. I might add that we live in a situation where the market is very realistic, very factual. That’s why the possibility that gold would be sold caused the gold price to drop by $5. You don’t have to sell gold, you just have to breathe [that you may] one day. Dave.

-END-…

Strong Dollar Policy, anyone?

Bill, Chris,
From FOMC meeting 12/20/1994…just before the “strong policy was born”!

www.federalreserve.gov/monetaryp
olicy/files/FOMC19941220meeting.pdf

CHAIRMAN GREENSPAN. President Jordan.

MR. JORDAN. I think the main part of our problem right now is inflation psychology. It certainly reflects the lack of a nominal anchor. It suggests that it would be helpful to have a politically supported mandate to attain and maintain a stable value of the dollar.

If somehow we could achieve the conditions of a true gold standard– without gold but the steady purchasing power of money in the minds of people–over time it would make some of these short-term things that we go through a lot easier to deal with.

Here the FED discusses how to cook the books with gold movements. There is even the suggestion that the gold doesn’t need to leave the vault !

www.federalreserve.gov/monetary
policy/files/FOMC19921222meeting.pdf

CHAIRMAN GREENSPAN. Did I hear you correctly when you said that the gold exports in October appear to have come from the coffers of the Federal Reserve Bank of New York? Has anyone looked lately?

MR. TRUMAN. Well, I didn’t want to tell too many secrets in this temple!

VICE CHAIRMAN CORRIGAN. Obviously, we knew what happened to the gold, but I don’t think we knew what it did to exports.

MR. TRUMAN. What happens in the Census data is that the Federal Reserve Bank of New York is treated as a foreign country. [Laughter] And when a real foreign country takes some of the gold out of New York and ships it abroad, it counts first as imports and then as exports. However, the import side is not picked up in the Census data. So there you get the export side of it.

MR. LAWARE. Great accounting!

MR. BOEHNE. Great confidence building!

12/22/92

MR. TRUMAN. That’s because you haven’t been filling out your import documents!

MR. ANGELL. Let me run this by again. You mean a country owns gold and has it stored in the Federal Reserve Bank of New York and if they ship it out, that’s an export?

MR. TRUMAN. And in the balance of payments accounts it also counts as an import, so it washes out.

CHAIRMAN GREENSPAN. The Federal Reserve Bank’s basement is a foreign country. When they move it out of the basement into the United States, it’s an import. Then, when they ship it out again, it’s an export.

MR. ANGELL. That makes sense!

MR. TRUMAN. And sometimes when they sell the gold, it might be sold into the United States, so it should count as an import. It doesn’t necessarily always show up as an export.

MR. BOEHNE. That really clarifies it!

MR. KELLEY. Does it have to get out of your vault at all in order to be considered an import and an export?

VICE CHAIRMAN CORRIGAN. Well, I’m not even going to try to answer that. In this particular case I know what happened, so I think…

-END-

Ted Truman is everywhere where the manipulation of the gold price is concerned … make that US financial markets. His bio:

Edwin M. Truman, senior fellow since 2001, served as assistant secretary of the US Treasury for International Affairs from December 1998 to January 2001 and returned as counselor to the secretary March–May 2009. He directed the Division of International Finance of the Board of Governors of the Federal Reserve System from 1977 to 1998. From 1983 to 1998, he was one of three economists on the staff of the Federal Open Market Committee.

Truman has been a member of numerous international groups working on economic and financial issues, including the Financial Stability Forum’s Working Group on Highly Leveraged Institutions (1999–2000), G-22 Working Party on Transparency and Accountability (1998), G-10-sponsored Working Party on Financial Stability in Emerging Market Economies (1996–97), G-10 Working Group on the Resolution of Sovereign Liquidity Crises (1995–96), and G-7 Working Group on Exchange Market Intervention (1982–83). Truman has also been a visiting economics lecturer at Amherst College and a visiting economics professor at Williams College. He has published on international monetary economics, international debt problems, economic development, and European economic integration. He is the author, coauthor, or editor of Reforming the IMF for the 21st Century (2006), A Strategy for IMF Reform (2006), Chasing Dirty Money: The Fight Against Money Laundering (2004), and Inflation Targeting in the World Economy (2003).

-END-

Anyone can post here.  People as a whole run the gamut from mellow to aggressive, peaceful to violent.  No one here has the power to change people’s psyche’s.   How are we to ensure that the people posting here are loving and respectful?  Should we have to delete any post which is not loving or respectful?  Obviously this is impossible and we don’t want to do it anyway.  I submit that if you yourself ran a website that you would have to censure what people said and occasionally boot someone out.  People are mostly good and decent… but there is a percentage who are not.  These people who are not can ruin the website.

Not referring to KB here but just on general practice of moderating.

Otherwise ISRAEL would be buying the IMF gold.

I agree with you wholeheartedly,  but we owe it to ourselves to keep trying.  The alternative is uglier than the pain of trying.

The same principle of ‘easier said than done’ can be applied to why the status quo remains the status quo.  Here we are, collectively wanting something different than the status quo, but we’re not willing to change ourselves?  The tough work is for us, too, not just the fun of bitching & moaning about what we don’t like lol.

If it was easy, everyone would already be doing it…

 I admit Kitco definitely  knows how to hit the bee hive,,, but the reaction was troubling,,, we are better than this ,,, I know I’m the new kid on the block ,,and have no credence in callin people to task,,,  the way I see it no one came out a winner today,, The Loser was the TENT

“learn how to deal with it in a loving manner. ”

Easier said than done my friend.

Behavioral Finance Report

*The gold action speaks for itself. This widely watched barometer of US financial market health has been defused.

*The S&P has closed higher 10 days in a row. It has never closed higher 11 times, but came close to doing it today, only closing down .25.

*The yield on the 10 yr T note rose to 3.75% before falling back to 3.7%. “Everything is fine.”

*The markets are in lockdown with the Orwellians doing all they can to engender the notion among the American public that “Everything is fine.”

Thanks for your response, which I understand.  That doesn’t change my view that it’s about time we grow up and learn how to deal with it in a loving manner.  Stuffing anything in the closet has never worked.

 Well Said!!,, as always   I Second the Motion

In some kind of reality what you say might work.  In this reality which we have now it doesn’t.  In the years I have been here I can tell you that when the Jewish question comes up it always leads to bad feelings, animosity, name calling and distraction.  I’m saying ALWAYS as in EVERY TIME.  So in order to preserve the relaxed and friendly atmosphere at GT it’s just better to not go there.  People can always go to the Pit or to another website to discuss it.  You might not like this but that’s just the way it is.

Best, ipso