Oldtent Archives 2010

all of them jewish catholic mexicans and send them back to where they came from where ever that was? bwahahahahahaha its de debels you know!wj

but i am sure there is more and from differing angles of stretch!
wj

Irish, thank you for the detailed account of your experiences at 3:42. I have read your account carefully and I understand it, but I do not pretend to appreciate the fullness of it, since I have not personally experienced the circumstances you describe at 3:42.

So I suppose goldielocks is correct at 5:17 when she starts her posting with the words: “I’m not saying this because Equiz doesnt understand how people use the race card…” That opener is somewhat insulting since I had not had any preceding Goldtent discussion on that subject.

But can we retrace how this unfortunate interchange started? At 22:28, July 28., I posted an article that I thought was ironic and amusing about the Canadian conservative position about cap-and trade. At 0:41 redneckokie posted a sensible and informative response to my 22:28. Irish, instead, posted at 22:45 that while I was pondering the cap-and-trade question, what was my opinion about Canada`s border patrol for Mexican`s heading north. I gave a courtesy answer to Irish, although I have no expertise nor any strongly held opinions about immigration into Canada - and I certainly have no credible voice about U.S. immigration policy, and I did not enter into any Goldtent discussion with Irish about U.S. immigration policy.

But somehow last evening, culminating in his 3:42 essay, Irish managed to make Equiz the posting focus of his concerns about U.S.immigration matters. And goldielocks joined in at 5:17, invoking that Equiz does not understand. This is weird because Equiz never began any conversation with Irish or anyone else about U.S. immigration policies, about which I have no personal experience.

Although WANKA says any subject goes on this forum, there are several subjects I have not touched and will not touch - to give a couple of examples, included in my list of personally-censored topics are: any part of the discussion about the Jewish faith or topics related to Jewish people, discussion of the historic and current role of Roman Catholicism in world events, and immigration policies of countries other than the country in which our family lives.

So, Irish and goldielocks, may I respectfully ask that you not drag me into your future discussions about U.S. immigration policies, since I never entered discussion with you on that topic last evening. Thanks. Equiz.

Tote Bag read

Do we have any “Stretch” photos?

my suggestion was that it was ironic, if not comical, that conservative interests in Canada seemed to be coming out in favor of a cap/trade system. I appreciated you comments. Cheers. Equiz.

i be 64 too and nov 65. i’m shooting for a 1350-1400 gold to end of year. seems reasonable to me…than again
lamposts for politicians seem reasonable too! wj

It’s interesting that this is being floated out there from two seperate sources. A direct QE2.0 to the bankers etc. was meeting a lot of resistance from the great unwashed. This should be more palatable.

My only question is how are the banks going to make money on this? Is this their opportunity to quietly unload all that crumbling, neglected inventory onto the taxpayer?

I’m looking for the gotcha. Becasue if it’s too good to be true …..

As far as I am aware it’s mainly the american banks holding this stuff as Deutche Bank was willing to take the hit and unload at 50% of the mortgage outstanding. The BOA’s etc. are trickling their inventory onto the market.

Fallen Soldiers’ Families Denied Cash as Insurers Profit

Lohman, a public health nurse who helps special-needs children, says she had always believed that her son’s life insurance funds were in a bank insured by the FDIC. That money — like $28 billion in 1 million death-benefit accounts managed by insurers — wasn’t actually sitting in a bank.

It was being held in Prudential’s general corporate account, earning investment income for the insurer. Prudential paid survivors like Lohman 1 percent interest in 2008 on their Alliance Accounts, while it earned a 4.8 percent return on its corporate funds, according to regulatory filings.

“I’m shocked,” says Lohman, breaking into tears as she learns how the Alliance Account works. “It’s a betrayal. It saddens me as an American that a company would stoop so low as to make a profit on the death of a soldier. Is there anything lower than that?”

Millions of bereaved Americans have unwittingly been placed in the same position by their insurance companies. The practice of issuing what they call “checkbooks” to survivors, instead of paying them lump sums, extends well beyond the military.

http://www.bloomberg.com/news/2010-07-28/fallen-soldiers-families-denied-cash-payout-as-life-insurers-boost-profit.html

www.financialsense.com/

Dock Treese? Are you kidding me?

What the heck is next Thurston Howell the fn 3rd?

http://markostake.blogspot.com/2010/07/california-faces-issuing-ious-again.html

 Marko

Never thought of it that way, must be why I still rocken’ at 64.

I don’t know why, but I’ve got a feeling this will be the best fall and winter for us bugs.

” Hyperinflation will not come upon us like the 70’s where goods continually ground their way higher, no, it will come by way of PANIC out of the various currencies”

Yes the big difference between then and now is the health (lack of) of many sovereigns including the U.S.. Don’t get me wrong, sovereigns were sick and on the verge of intensive care visits but they have since overdosed on hemlock! We have gone nearly 2 years with ridiculously low interest rates which in turn is no incentive at all to hold cash. This at a time when stock markets have risen and PE ratios etc. are certainly not cheap and “cash” would normally be a wise choice. I say “normally” but not now because cash in this environment will soon be viewed for what it truly is, namely a liability. Liability? Yes a liability of a sovereign government that cannot repay it’s debt without the massive printing of more “liabilities” to make payment. How perverse, governments are already “over liabilitied” yet they will be force to issue more!

These sovereigns have and will reach the point where the market place will no longer accept more “liabilities” in the form of bonds so they will be forced to issue more of the “ultimate liability”, their currency! It is this realization that ushers in a very fast and very panicky hyperinflation. Hyperinflation will not come upon us like the 70’s where goods continually ground their way higher, no, it will come by way of PANIC out of the various currencies and into anything and everything you need to eat, can touch and feel, or use. Hyperinflation will not come from massive “over demand” for anything, it will come about from the massive oversupply of currency and the collapse in demand for these currencies!

So while I believe the deflationary forces that “forced” the hands of many Treasuries and Central Banks will again raise it’s ugly head and unravel the system further, the ultimate danger is a breakdown of the entire fiat system. This WAS a fear back in 2008 but governments still had the ability to borrow more and “guarantee” everything. Now the next logical question will be “who guarantees the government”? It is this VERY QUESTION when asked on a mass scale that has the ability to set hyperinflation in motion! It is THIS question that when asked has the answer that currencies in today’s world are liabilities.

As for now being a good time to have some “cash”, I wholeheartedly agree! However it might be a good idea that this “cash” be no one’s liability! Can anyone tell me which currency is no one’s liability? Yes, you are correct! Gold and Silver are nobody’s liability and in fact are assets! Well…..there are some out there (can you say US govt. JPM etc. ) that view Gold as a liability because they either don’t have the metal or are actually short the metal but in reality (upon us soon) the only currency on the planet that IS AN ASSET is Gold. The discovery of this fact by the world is in reality the definition of hyperinflation!

Thought I would throw in my 2 cents on ECU.  I think it is more a thing about the price of Silver than anything.  Sprott thinks all silver miners are overpriced.  Why?  They cannot make any money and the capital costs are high.  All they do is dilute.

No institutional support.  True but it will come if the price of silver is allowed to rise.  Based on the new law when position limits are put in place silver, from what I have gleaned, will be the prime beneficiary.  That is mandated to happen within six months.   They have the resource and it is in a great location and the have mills and the ability to process.  They can’t fund operations, explore and do the necessary stuff and make money.  No silver producer can.

ECU has hired some operational guys to improve productivity and production.  They produce a pittance currently but enough to keep things afloat until the price makes it worthwhile.

The shorts are everywhere in the PM stocks.  Sinclair and McEwen know how to keep them out.  Most do not.

GATA is a true believer.  They thought silver would be stronger than gold and it has not delivered and the stocks that are based on that have been awful.   They made a mistake.

ECU’s management has been good promoters which can be good when you have something that can make money but not when the economics stink.   JMHO

I am still working on the many charts that you posted. But I think we are in agreement on gold - your target price and I think in September (unless the cycle low comes unusually early).

But I do not agree that physical and the corresponding stocks track. No the diverges at time are dramatic.

In a rush now - maybe over the weekend. Well probably not. Our daughter is coming for her birthday celebration. We will make her favorite cheese fondue recipe - perhaps go over to the piano bar and have a good red and listen.

Then in a few days we take our grandchildren and their parents to Disney - staying at the Animal Kingdom Lodge and the Polynesian. I am as excited as the grandchildren.

aurum (GLD)

Until somebody….actually anybody of investment standing, such as a Sprott, for example, puts their money in this stock…i stand aside. And Yes, I feel that the Gata insiders got scammed…and so did their sheeple followers.  World class deposit and nobody of standing is interested? 

Well they  just don’t invest in penny stocks..Oh yes? Then please check out institutional and mutual ownership in such as CGR,,Claude Resources.

Let there be no question.  I am calling out Gata on this one…disgusting!

Yes, ECU might be shunned by the conventional types, but don’t forget that Midas was a big supporter of GSS, and GSS was put in the cooler for a long time, too.  I would not doubt that both were naked shorted as payback to Midas/ Gata.  Still, GSS right on time with its own EW cycle has come out smelling like a rose.  The cycle for ECU is a bit of a lagger to that of GSS so I suspect it will also come out smelling like a rose when “time is up.”

All of that is based on the chart with no consideration for the other points being bandied about.  I am considering a purchase in the near future.

QE 2.0 Or QE 1.999: GSEs And FHA Are Preparing Auto-Refi Program Taking Millions To Current Market Rates Overnight

Submitted by Tyler Durden on 07/29/2010 13:38 -0500

The main story making waves this afternoon is the presentation by St. Louis Fed’s James Bullard titled “Seven Faces of The Peril” in which the Fed president pledges that the Fed should immediately recommence purchasing Treasurys if the deflation scenario picks up, which he notes is an increasingly likely probability. In the paper, Bullard argues that the Federal Open Market Committee’s extended period language may be increasing the probability of a Japanese-style deflationary outcome in the U.S. within the next several years, and concludes that an appropriate quantitative easing policy offers the best hope for avoiding a low nominal interest rate, deflationary outcome. “The U.S. is closer to a Japanese-style outcome today than at any time in recent history…A better policy response to a negative shock is to expand the quantitative easing program through the purchase of Treasury securities.” While of course keeping up a facade that the Fed is in control, Bullard does speculate about the downside case: “The most likely possibility from where we sit today is that the recovery will continue through the fall, inflation will start to move up and this issue will all go away. Suppose we get another negative shock, another surprise. We have to be prepared in that event to have a plan in place to do something.” Yet all of this is in the sphere of probabilities of QE2.0 and for now at least, is something to consider in the intermediate future. Yet something far more sinister may be brewing just below the immediate horizon. As Mark Hanson suggests based on speculation by both MS and ML (oddly enough released concurrently, MS report attached below), the GSEs and the FHA may be preparing to imminently launch an instant aut-refi program which would take millions of borrowers to current market rates overnight! In the process $45 billion of consumer savings would be created. Welcome QE 1.999.

 http://www.zerohedge.com/

i just think your ‘full of s****r’ wj

I worked in the Keno mill in the late 70’s, and can tell you it is full of silver. By the end of the shift, I was covered in an inch of concentrate. I have been a holder for a number of years, and cannot wait till it opens again. My only worry is that I got lead poisoning, but the Tent is full of crazies.

yes i’m looking to short this bugger using the dow. the 10600 looks like it may form a double if stretching the point a tripple including tues top today. seems to be forming a clean doji so far. seems 10600-700 may be the short if not here and now. i may ride if there is a breakdown on the overnight. best and good trading. wj

up so strongly too! So you are welcome.

HeHe  Do I detect a certain tone of skepticism in your post?  You sir may have just pushed the plunger on the ECU controversy bomb.  Fortunately I have no horse to get gored in this fight so I can just stand back and watch.  I do hope that all my GT friends who have positions in it, eventually get made whole and that the company doesn’t get bought out for a tiny sack of money and a dozen sticky buns.

Best, your friend, ipso

PS  I hope that your healing is progressing.  Lots of good heads for natural medicine on this Tent…. if you should enquire.

LOL!  Holy Cow!  That’s where all my profits are too! 

Fu Manchu … Let’s see whatcha got!

As gracefull as ever. Left hand typing/keying is strange for me…injuries.

ECU    What a wonderfull Management STORY…”.dreams can come true…it can happen to you.”   Heavy debt, and a huge share float for a penny stock but,also a huge world class silver deposit that can forgive all past sins. However,goldbugs are trapped behind the price lines with heavy loss and lost opportunity money. Gata related insiders continue to recommend it and  many do not disclose sponsorship. Why?

Meantime, ECU is certainly not a new story but, ALL the pro’s refuse to even nibble,  they are ALL,,, Asleep while you, as Gata sheeple believers have the true inside scoop on this stock. Pro’s such as Sprott, Tocqueville,Goodman,Blackrock…etc.  refuse to put money into ECU.  Yes, they are all asleep but, you as an ECU investor have scooped them..going on for several  years now…at a loss.  Thanks, Gata.  Dreams can come true…it can happen to you.

Besides all the good stuff mentioned earlier, they have excellent relationships with the local populations and also with the gov’t, since they have a mine reclamation/service/cleanup branch that also brings income.