Oldtent Archives 2010

The men the American people admire most extravagantly are the greatest liars; the men they detest most violently are those who try to tell them the truth.” … H.L. Mencken

If it wasn’t for EGO and SEMAFO I’d be in bad shape. SEMAFO is the best horse in my stable. Wish I bought more two and a half years ago. A tip of the hat to Longtimer for getting me into this one.

….I salute you and your wife….

….terrific story….Imposible to Reply to in any negative way….

…..best of luck with the orchard….

www.zerohedge.com/article/wgc-releases-china-gold-report-new-world-opportunity-pboc-expected-buy-gold-chinese-gold-min

….saved in a new categoty at the top of the Sidebar….for easy reference….thanks Froggy

….exactly

….Gold in Africa….someones gonna want to take it over …

That was a fast answer! I’m hoping it might contain further information on the Tunnels they are proposing to build to get to HWY 37 and the new power line that the B.C government is building into the area.

Rudi Fronk of Seabridge Gold was very quick to reply to my e-mail asking about the expected date of the KSM feasibility study. He said: “As we have 14+ consulting groups involved in the study, I cant give you an exact date. We expect to announce the results within the next week or so”. Cheers. Equiz.

http://mmsandhealth.com/mms001.htm

for the person who posted months ago about a problem with his skin not healing
http://mmsandhealth.com/mms001,htm

Re: shipping rates….   That’s what I was thinking when I first saw it.   I thought shipping was at a low capacity and rates were low, but the article talks about rates going up.

I dunno.  A couple of things… the article was focusing on S. Korea and one port in particular.

Perhaps the BDI lags.

Perhaps it’s some kind of exageration.

I guess we’ll see the truth of it eventually.

Cheers

religion and politics do it everytime! 

an opinion on when the feasibility study will be released for the KSM project. At present I have no direct contact with officials at Seabridge, but I will see what I can find out. You are correct in your memory that I have liked Seabridge for a long time and our family portfolio has held this stock intermittently over several years. The amount of precious metals in the ground on a per share basis has always been one of the attractions of this company in my opinion. Of course getting a project underway to produce and market the PMs is another matter, but here too I think Seabridge has the goods to make this happen - and that is why it is now one of our long-term holds. Will get back to you if I find more relevant information. Equiz.

I think eyes worldwide are being opened to the true nature of the gold and silver markets. Probably the big players who have inside knowledge of these markets have been aware of the situation for years, but word is filtering down to the lower strata of market participants. An entity like China would not want the system to fall apart now and have prices explode, since they are still accumulating reserves. People with large fortunes to protect have no doubt been buying gold, particularly since 2008 when the global financial markets started their meltdown, but I wonder how many of these people know that they may only own “ledger entries.” Some people might be content with cash settlement rather than actual bullion, but others will want the “real deal.”  Those people will start taking delivery of their metal if they catch wind of the paper gold ponzi scheme. 

I find it fascinating that Sprott was turned down by the IMF to buy gold. Either the IMF doesn’t have anymore, or it’s not in a form they dare offer to a physical-only buyer like Sprott.  

I can easily believe that a price explosion will occur within the next year or two. The growing demand for bullion from the public alone will eventually overwhelm the “fractional reserve” paper gold system which trades at hundreds of times the actual available metal. If only the majority of gold traders understood that by taking delivery of their gold and silver they were assurred of breaking this phony pricing structure. Today’s prices are dependent on a ficticious, inexhaustible supply of gold and silver.  If true price discovery existed, based solely on the ACTUAL supply of existing metals, we would experience five to tenfold increases. Perhaps as importantly, the mining industry would boom, and many poor countries whose incomes are largely dependent on mining would finally be allowed to flourish and prosper as they should have been doing for decades.   

Will respond to your Seabridge question later - if I can. Cheers. Equiz.

www.empr.gov.bc.ca/Mining/Geoscience/MapPlace/Pages/default.aspx

I believe it is you that has been mentioning SEA.to for years(correct me if I’m wrong) and frankly I failed to research it until recently when I first began researching their neighbor Teuton(TUO.v). Seabridge has a huge deposit in KSM and I only wish I had realized it during late 2008 and early 2009 when they were selling even much cheaper than now. Considering that they have at least 40 million ounces measured and indicated in KSM alone.

And since I just started posting I wanted to congratulate you for picking a real winner and say how I have often kicked myself for not paying attention to your pick much earlier.

Any idea when they are going to release their PreliminaryFeasibility Study on KSM? Seems like it should be soon.

goldentriangle

I say..”What would you attempt to do …if you knew you would not fail?

Sure hope this guy is right!

“Bill

Great work at the CFTC last week. You should have really opened many people;s eyes. I have been giving it a lot of thought. I believe that there is a slim chance that the CFTC will reign in the big banks. What we have seen lately the big banks do not fear that anything will come of the meetings. If they did, they would not continue to flaunt all regulations and laws choosing to continue their illegal manipulation. At the very least, if they thought there was the slightest chance of position limits without waivers, they would already be exiting their massive short positions. But as we saw the cartel did their traditional and predictable paper shorting leading up to OE in what turned out to be a real time demonstration of the crime in progress.

Thinking back a few years when you gave one of your many talks (Gold Rush 21?), a connected Russian attended. He seemed to actually listen and see the truth in your research. More important, he took the information back to Russia. Subsequently, the behavior of the Russians transitioned to that which what one could expect if they understood what GATA knows to be fact. I believe that this “history” is about to repeat.

Even if the CFTC does their usual nothing, the information, and the PROOF you put forth, is now out there for the world to see. The US banking cartel has thrown a big turd in the global financial punch bowl causing a global economic crisis. There is growing animosity and distrust of the NY banking cartel and the DC criminal element.

It is the growing distrust and animosity toward the NY/DC cartel that will stimulate more and more significant financial entities around the globe to turn away form the CRIMEX and other US centric venues. The trust that the NY/DC cartel has enjoyed and profited from is gone. They only have the ability to bully, to force their wishes on the global financial community through intimidation and threats. But the world has very recent evidence of the harm that the NY/DC cartel can do as they continue their greedy underhanded paper ponzi schemes and market manipulations. The situation is changing.

I think that the CFTC meeting served a great purpose exposing the truth you have known for years. The world is now waking up and this is leading to the replacement of the markets dominated by NY/DC coordinated manipulation. This exposure and its subseqient reaction that will finally bring them down.

It will not be instant gratification, but a slow steady replacement of price discovery venues and competing markets outside the control of the cartel and the ultimate discrediting of the large US banks and US government. The world will be replacing the US dominated infrastructure. We already see new markets that provide minor competition to the NY and London cesspools. WE see owners of physical metal withdrawing that metal from cartel managed storage to independent, honest storage. This process to honest markets and storage of metals will accelerate. When the globe has access to pricing mechanisms based on willing buyers and sellers rather than house controlled gambling casinos, when actual metal is stored out of the reach of the fractional reserve cartel bullion banks and ETFs, then the CRIMEX will become irrelevant.

Thanks for the libertarian post.

Yes, Silver Wheaton Corp has bankrolled them in the past and speculation is that if the Rock Creek project(260 mil oz silver)  gets moving that SLW will finance the mine for a share of the silver production.

goldentriangle

Sorry to interject but after reading your post I have are few comments.  This is your statement.

“I believe that the Federal Gov’t has grown far too large, but I also believe that Conservatism is not a good response to our problems because Conservatism looks backward toward a time in the past that no longer exists and which has only a tenuous relationship with the problems and complexities of the situation today.  This country will never have a small government again, in the same way that Apple Computer will never again be run out of someone’s garage.  The question is: how to streamline the US Gov’t so that it supports and protects the people of our country while making our businesses competitive around the world.”

You say that the govt. has grown too large but will never be small again.  OK. You say streamline the govt.  Where and how would you suggest we do that?  Then you say govt.should support and protect the people.  My question is how why and who should they support and under what circumstances and by what authority?  Protect. OK from whom and under what circumstances?

Next.

I also think that some Americans are too rich and others too poor — the wealth in our country should be spread more equitably, probably through a graduated income tax that taxes the VERY wealthy far more than they are.   I think that the gov’t should shrink in size and subcontract private industry for most work.  I think that George W. Bush took over from Bill Clinton–who actually brought the country to a gov’t surplus rather than deficit–and, basically, George W. and his cronies screwed this country up so bad that we’re now in real trouble.  And I think that George W. basically got himself elected by appealing to Christians and the religious right.  Remember those stimulus checks?  Ridiculous.

Some americans are too wealthy.  You propose higher taxes.  If you were considered too rich what would you do if you faced higher taxes?  Have the govt. subcontract to the private sector.  OK.  What part of govt should we remove?  What functions?  If you were a govt. employee how would you like being downsized?  Bush screwed things up.  Yep.  Elected by Christians and the religious right.  They certainly had a large impact.  BTW they are americans and have the vote.  I am a Christian and a Zionist supporter.  Been to Isreal and been a large contributor to their Hospitals.  What is it about Christians that you hate?

As for Obama, I think that he believes that it’s more important to establish a precedent for Universal Heathcare than to balance the budget.  And, as my very old father says, the gov’t is paying for healthcare anyway when the poor go to hospitals and can’t pay.  My very old man says that it can’t be a bad thing to give 30 million people heathcare.  What do you think?

Obama wanting to establish precedent vs. balancing the budget.  I agree.  The precedent is the encroachment of govt into the rights of the individual states and the centralization of power.  I agree with your Old man that the US has been providing Universal health care already.  The problem is that the new law does nothing to address costs and in fact baloons the size of govt.  JMHO

“I also think . . . the wealth in our country should be spread more equitably, probably through a graduated income tax that taxes the VERY wealthy far more than they are.”

I have never understood how anyone could hold this view. The very wealthy already pay far more tax than everyone else, even without a graduated income tax, simply because they are taxed on such a monumentally higher amount of income.  What I find far more irrational and unfair is that people with modest incomes often pay nothing at all. I’ve heard that somewhere around 40-50% of the American public pays no taxes whatsoever. Why should a portion of the citizenry have a completely free ride while others pay their way? Even people with modest means ought to be contributing something to pay for the services and benefits they enjoy. I don’t care if it’s only a few hundred dollars a year. Anyone able-bodied who is earning money and reaping the benefits from public services ought to be paying SOMETHING.