University of Missouri at Kansas City. I wasn’t cut out to be a molar mechanic. I need positive strokes for my creativity and I found dental patients are prone to be less than positive.
Phys, allocated, and secure. That was before the juniors. Hope I never have to touch it and we just slowly reset. All the Armageddon talk is worrisome but I pray overdone.
All the profit we make isn’t worth the pain and misery life would become.
I never liked this stock, although did own some shares in 2002-2003. I was never impressed when the dentist in Illinois and others pushed this stock, and have yet to come around to getting interested in BZA.TO. But I am always interested in opnions of others about this stock, given the current climate for PM stocks. Thanks in advance, and Cheers. Equiz.
stockcharts.com/h-sc/ui?s=BZA.TO&p=D&yr=3&mn=0&dy=0&id=p58570365806
Decades before anybody had ever heard of a mortgage derivative, an economist named Melchior Palyi predicted key causes of the 2008-2009 financial crisis with precision that makes a modern reader’s hair stand on end.
His warnings help explain why investors insist on trusting market gatekeepers they know to be fallible—such as policy makers, regulators and credit-ratings firms.
The seeds of today’s problem were planted long ago, and its forgotten history holds important lessons. In 1936, as part of reforms under the new Banking Act, the U.S. government mandated that federally regulated banks could no longer hold securities that weren’t rated investment-grade by at least two ratings firms.
To determine how to implement the new policy, the government launched a massive project—with experts from the Federal Deposit Insurance Corp., the National Bureau of Economic Research and the Works Progress Administration—to study how credit ratings should be used.
Mr. Palyi, then teaching at the University of Chicago, was a vocal skeptic from the outset. Looking back into the 1920s, he found that investment-grade bonds went bust with alarming frequency, often in the same year they were rated. On average, he showed, a bank that followed the new rules would end up with a third of its bond portfolio going into default.
The record was so unreliable that it would be “still more responsible,” Mr. Palyi growled, to “stop the publication of ratings altogether.” He was especially troubled that the new banking rules switched the responsibility for credit safety from bankers—and even bank regulators—to ratings firms.
“From there,” he warned, it “will have to be shifted again—to someone else,” presumably taxpayers. Liquidity, Mr. Palyi argued, was being replaced by what he scornfully called “shiftability,” a new kind of risk that could someday “be magnified into catastrophic dimensions.”
In response to his criticism, government researchers studying how to apply bond ratings changed their method for calculating the performance of investment-grade bonds. By 1943 they had come up with an oddly contorted median that magically improved the track record of the ratings providers.
This switcheroo, recently documented for the first time by economists David Levy of George Mason University and Sandra Peart of the University of Richmond, legitimized the new regulatory model and flushed Mr. Palyi’s criticism down the memory-hole of history. Credit ratings, in the words of economist Lawrence White at New York University, acquired “the force of law.”
Since the 1930s, more than 150 laws and regulations sprang up requiring banks, brokerage firms, insurance companies, pension plans and money-market funds to hold securities regarded as investment-grade by rating agencies. A study released in 2007, on the eve of the financial crisis, found that 76% of fund managers wouldn’t invest in bonds below certain credit ratings, even though fewer than a third of them thought that was “a good investment strategy.”
In the wake of the crisis, Fitch, Moody’s and Standard & Poor’s, today’s major ratings companies, have all said they have taken steps to improve the transparency and reliability of their ratings and that no one should use credit ratings as the main basis for an investment decision. This year’s financial-reform law scales back, but doesn’t eliminate, the role of credit ratings in regulation.
Who was Melchior Palyi? Born in Hungary in 1892, he became chief economist at Deutsche Bank. Fluent in at least four languages and endowed with a wicked sense of humor, Mr. Palyi was the chief economic adviser to the German central bank during the financial reconstruction of Germany after the hyperinflation of the early 1920s. In 1933, as Hitler came to power, Mr. Palyi fled to the U.S. He nursed a wariness of centralized power and inflation until he died in 1970.
Mr. Palyi warned in 1938 that a push toward universal home ownership would “make the population fixed to the ground” by “overburdening them with housing costs.” That, he foresaw, would limit the mobility of American workers—helping explain why unemployment is so stubbornly high today.
He also derided what is now called “quantitative easing,” characterizing it as “a sort of Santa Claus to the economic system” that can lead to “runaway inflation” and a concentration of too much power in too few hands. Investors piling into stocks today based on the Federal Reserve’s latest bond-buying binge shouldn’t get too cocky.
Mr. Palyi was fond of saying that sooner or later, too much credit always turns into a giant debit as borrowers crumple under the burden of escalating interest payments. That’s a warning this entire country would do well to heed.
…Whats UMKC ?
…..You are My Vintage…I am a Toronto Grad 75 !
….I love what I do….but not everyone is cut out to drill holes in Molars and Jawbones… sounds like you found your calling
….especially by figuring all this out in year 2000
….now we have to hope all the doomsters are wrong…and we do the slow burn Inflation thing…
….do you have any Phys ?
….Financial Armegeddon…
….Its Written in Stone…..this may be the last weekend we enjoy of the Gold Bull !
…..Apparently the Invincible Ship Fiat has Hit the Iceburg and we are just days away from Sinking into the Abyss
….Spock Warned Me but I thought he was just joshing
….Maya Warned Me but I thought he was just paranoid
…..Bix Warned me but I Thought he was Just Weir(d)
……Clif Warned me but I thought he was Just High
…. Now Glenn Beck has Warned….but he,s just a sensationalist
…..But Wait…Obama has flew the Coop….with 3000 of his favorite friends….so something must be Up afterall
….Its Just like the Cretins….Just when we thought we beat them as Gold and Silver Soar
…They crash the system !
…..Prepare for Mad Max…..the End IS Nigh…Mayday Mayday Mayday
….and the band played on
My arrogance and hubris cost me $1.8 million that time.
BTW, I went to UMKC Dental School from’74 to ‘76, dropping out in my third year to go into business.
Damn, the only non-political, non-threatening TV valium I had left.
….that is truly a great story…..fantastic insight into your PM Trading History….
…..thanks for sharing and showing what is possible in this Whacky PM Sector….
…..Best of Luck and Skill going Forward….
….Wow….90 Silver Futures during the crash and you still came out alive !
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Tom Heneghan’s EXPLOSIVE Intelligence Briefin
Tom Heneghan
Last Updated: 8/27/2010
October 30, 2010 - Saturday
BREAKING: Federal ReserveGate is Now Citibank TerrorGate
Category: News and Politics
Awakening Americans: Behind the scenes intelligence briefings ALL
Patriot Americans MUST know…the REAL facts and truth the
corporate-controlled, fascist, extortion-friendly U.S. media covers up
Hot EXPLOSIVE Back Breaking News
Federal Reserve-Gate is Now Citibank TerrorGate
by Tom Heneghan
International Intelligence Expert
Saturday October 30, 2010
FINANCIAL TERRORISTS: Federal Reserve [PRIVATELY OWNED] and Citibank
UNITED STATES of America - It can now be reported that the criminal
banking elite that occupy America are once again involved in major
financial criminal activity that involves NON-margined bogus
electronic trading and terror threats aka “False Flags” designed to
promote the financial agenda of this criminal banking elite.
Note: The U.S. Federal Reserve is currently considering a new round of
proposed economic stimulus known as “QE2″. This alleged stimulus
program involves purchases of U.S. bonds.
Translation: QE2, which was recently defined as nothing more than a
Ponzi Scheme by Bill Gross of Pacific Management Inc., is nothing more
than a back door bail out of the criminal banking elite aka Goldman
Sachs and U.S. Citibank.
QE2 actually involves the purchase of various mortgage-backed
securities aka derivatives that are commonly known now as toxic
assets.
These derivatives are now used as margin aka collateral in various
electronic high frequency trading platforms parked in various offshore
trading locations.
Item: None of these financial transactions aka trades involve any
actual denominated currency that is used for margin aka collateral for
these transactions.
So the question is: What is being used as margin and collateral by the
criminal banking elite in these alleged trades aka spoof trades.
The answer is Letters of Credit from numerous banks across the world
in which the Letters of Credit are flipped from one bank to the other
on a nightly basis as to effect the price fluctuation in the
worldwide financial markets.
Now we are going to deal with yesterday’s chronology in what we will
define as “Financial Terrorist Activity”.
Item 1. At exactly 7:47 a.m. EST on 10-29-10, two massive electronic
trades were placed aka purchases of December gold Comex futures that
pushed the price of gold up $9 in less than 50 seconds (1343 to 1352).
Reference: This type of price fluctuation on what is commonly known as
the night board trading session is unprecedented.
Again, the trades took place 7:47 a.m. EST and gold Comex futures
begin actual day session trading at 8:20 a.m. EST.
We can now divulge that these trades originated simultaneously at 7:40
a.m. EST from trading platforms in Dubai (United Arab Emirates) and
Mumbai, India.
And, it gets worse!
The conspiratorial out-of-control, PRIVATELY OWNED Federal Reserve
leaked the GDP report on the U.S. economy to its business partner,
Goldman Sachs, at exactly 7:47 a.m. EST on 10-29-10.
http://www.tehrantimes.com/News/10875/14_GOLDMAN11.jpg
Reference: Goldman Sachs, who along with the Federal Reserve, have a
3-second lead time on all overnight electronic trading, immediately
piggy-backed these Comex gold trades.
Of course, folks, this is illegal. It is called “electronic bucketing”.
Note: At this hour, the U.S. Senate Banking Committee is allegedly
investigating this financial chicanery, as well as the relevant
financial regulatory bodies that oversee financial trading
transactions.
Let’s hope that Christopher Cox, formerly BushFRAUD SEC Chairman, and
Bernard Madoff are not sitting on the Senate Banking Committee.
This direct manipulation of gold and silver prices by the Federal
Reserve and Goldman Sachs was designed to ‘bail out’ Citibank and the
Saudi oil interests that currently hold billions of dollars of
cross-collateralized EURO currency, gold and silver, gasoline, and
crude oil derivatives tied to Citibank with Goldman Sachs being none
other than the counter party to the derivatives.
Reference: 80% of Citibank stock is owned by none other than the Saudi
Royal Family.
10-29-10 chronology continues
Midway through the Comex trading day session, during the regular Comex
session, the corporate-controlled, fascist, extortion-friendly U.S.
media began to bombard the airwaves with an alleged “terrorist” threat
aka “False Flag” originating out of the nation of Dubai, United Arab
Emirates, that dealt with an alleged explosive device in an ink toner
cartridge on a UPS aircraft that allegedly flew out of the Yemenese
capital Sanaa.
http://static.timesofmalta.com/media/serve/20101030–095545-wor_02.jpg
This video still allegedly shows the ink toner cartridge found in a
package aboard a UPS cargo plane
that made a routine stopover at East Midlands Airport in central
England yesterday. Photo: CNN/AFP
Fact: There is NO record of any cargo flight, including UPS and
Federal Express, leaving the Yemen capital or anywhere in Yemen in the
last 48 hours.
Fact: CNN had originally reported that the explosive found in the ink
toner cartridge was benign.
Fact: The source for the current information and alleged evidence
dealing with this incident is none other than the Dubai Police aka the
Israeli Mossad.
Yemen Officials: Packages Didn’t Come From Yemen
With the eyes of the world on Yemen and officials pointing the finger
squarely at the al-Qaeda in the Arabian Peninsula (AQAP) group based
in the nation’s south, Yemen’s government is cautioning against
jumping to conclusions, and denying that the bomb plot packages came
from Yemen at all.
No U.S. Commercial or Private Plane left Yemen to the U.S. over last
48 hours; Yemeni Official
A Yemeni official told Yemen Post that no U.S. cargo aircraft of any
American company flew out of Yemen over the last 48 hours. “Whether
UPS, Fed Ex, DHL or any other U.S. cargo company left Yemen over the
last 48 hours.”
Cartridges never sounded so dangerous!
One can only laugh at the desperation shown when a government resorts
to “terrorist threats” whenever it needs to garner enough support for
its sinister plans.
Suspicious Package to U.S. not from Yemen; Yemenia Air Cargo Director
Mohammed al-Shaibah, Air Cargo Director for Yemenia Airways said to
Yemen Post, “No UPS cargo plane left Yemeni lands over the land 48
hours. These accusations are false and baseless.” He added, “No UPS
or DHL cargo packages heading to Chicago through Yemen took place in
the last 48 hours as well.”
Question: Did the Dubai Police visit the noted Dubai trading platform
before they began their investigation of this alleged “terrorist”
incident aka “False Flag”?
The effect of this “False Flag” terrorist scare was to further the
financial interests of the noted criminal banking elite. As soon as
the terrorist scare hit the airwaves and news wires midway through the
New York Comex trading session the price of gold, silver, gasoline and
crude oil began to escalate. This was to enhance and disguise the
derivative holdings of Citibank and, in effect, increase the balance
sheet holdings of Citibank in advance of the Federal Reserve’s
decision concerning their stimulus package aka QE2.
P.S. At this hour we can report that Yemenese officials are holding
two female suspects that relate to this alleged terrorist incident aka
“False Flag”. They were both traveling in Yemen on foreign passports
and may have links to Saudi Intelligence and the Israeli Mossad.
We can also divulge that French Intelligence has absolutely confirmed,
after reviewing the manifest, that NO cargo flights left Yemen in the
last 48 hours.
The question is, where did the flight originate from?
The answer is: There may not have been a flight at all!
We now see how financial and political interests across the world have
combined their forces in waging what is now FINANCIAL TERRORISM using
bogus electronic trading and “False Flag” terrorist threats to enhance
their globalist agenda.
They, of course, are assisted by the corporate fascist, Federal
Reserve controlled, extortion-friendly worldwide media consortium aka
FOX News and Bloomberg News.
So you see, folks, we have media “terrorists” too.
P.P.S. Question: Have you heard any politician in the United States,
Democrat or Republican, talk about this overt financial terrorist war
being directed against the American People by the out-of-control,
PRIVATELY owned Federal Reserve?
The answer is: NO!
In my opinion there are only three (3) politicians on U.S. soil that
have the guts to stand up to this filth. One is Ron Paul, Republican
of Texas, the other is his son, Rand Paul currently running as the
Republican candidate for the Kentucky Senate seat; and the other is
former California Governor, now Democratic gubernatorial candidate
Edmund G. Brown Jr. aka Jerry Brown.
TOM HENEGHAN’S EXPLOSIVE INTELLIGENCE BRIEFINGS
International Intelligence Expert, Tom Heneghan, has hundreds of
highly credible sources inside American and European Intelligence
Agencies and INTERPOL–reporting what is REALLY going on behind the
scenes of the corporate-controlled mainstream media cover up
propaganda of on-going massive deceptions and illusions.
Read more: http://blogs.myspace.com/tom_heneghan_intel#ixzz14YNZmfbd
Received the following from Ameritrade today :
——–
Benefits of the New Regulations
The new IRS rules allow for increased flexibility in your account. Some of the new provisions:
————\
After reading the last item I thought “What about hurricane Obama”! :0-
Thanks for the heads up on Yahoo Finance.
If you wanted to see the 12 Days of Christmas, then watching the ‘Glenn Beck Show’ on Fox News Channel was not the place to be today. Instead, Glenn Beck laid out a scenario on how the global economy could collapse in a mere 15 days. His guests were authors Damon Vickers (“The Day The Dollar Crashes”) and Brad Thor (“The Athena Project”). Beck emphasizes that he’s not doing this to create fear and panic, but to make people aware of potential problems to be avoided, or, at least prepared for.
Conservative radio and Fox News Channel television host Glenn Beck spoke to a crowd of thousands at the Sears Centre in Hoffman Estates, Illinois on September 20, 2010. Among them were the Chicago Tea Party Patriots, an organization who states its goal is educate the public and promote the principles of fiscal responsibility, constitutionally limited government and free markets. Other speakers included former House Majority Leader Dick Armey, conservative blogger Andrew Breitbart, Congressman Aaron Schock, and Tea Party leader Herman Cain. Kevin Chalfant, former lead singer for 1980s rock band Journey, performed his song All for One. Fame Pictures, Inc
Day 1 of Glenn Beck’s scenario begins with China announcing that they will no longer buy U.S. Treasury bonds. This is not such a far fetched idea, as they have certainly slowed their rate of bond purchases and have voiced public criticism of Ben Bernanke’s announcement this week of a second round of quantitative easing.
Day 2 and 3 focuses on Wall Street which gets ’spooked’ by China’s announcement. The volume of stock sales is ultra low as rumors of instability abound. By Day 5, the world begins to react. Markets in Asia drop 10%. The American and European markets also decline a like amount. The European Central Bank reacts quickly, raising interest rates to attract capital as investors seek a ‘flight to safety’.
Day 7 of Glenn Beck’s scenario has the U.S. stock markets closed while the Federal Reserve Board holds an emergency meeting. Needless to say the government is certainly participating in decisions during the next 48 hours. With some vague pledge of ‘a plan’, the markets reopen on Day 8. They may even rally a bit, gaining 500 points or so. On Day 9, things seem to be stable.
Day 10 and the U.S. Dollar loses 10-15% of it’s value! The Fed’s quantitative easing has pushed a sudden burst of inflation as global banks try to divest themselves of the reserves of dollars. How possible is this? Again, following Bernanke’s statements on Wednesday, financial leaders in China, South Korea and Thailand have already said this week that they will act together, in concert, to protect themselves from a devalued dollar.
Day 11, the Fed meets again. On Day 12, in Beck’s scenario, the Fed decides to follow the Euro Bank’s move of increasing interest rates. Far from securing stability and confidence, the sudden change in direction by the Fed has the opposite affect.
Day 13, Lucky 13 — GLOBAL MELTDOWN! All of the world’s market begin to crash as confidence in ‘The System’ goes out the window. It’s every man (and lady) for themselves! The value of all paper securities, be they mortgages, stocks bonds, currency, is questionable. The markets go into total free-fall, losing perhaps 20% or more in a single day.
On Day 14 of Glenn Beck’s scenario, the IMF (International Monetary Fund) and the G20 financial leaders meet. In a televised, joint announcement, they announce an emergency plan to restructure all ’sovereign debt’, the debt held by each nation. Perhaps even a new currency or basket of currencies for global trade to replace the U.S. dollar. The beginning of the New World Order.
On Day 15, the public begins to panic. In the past two weeks, the value of their currency has declined some 20% or more. The cost of food, oil, etc, has jumped. Bank runs are televised as people get whatever cash they can and buy whatever is available from the shelves of grocery stores. The entire nation is behaving as if a hurricane is approaching. ‘The System’ is utterly swamped.
Glenn Beck’s scenario for economic collapse is not all that far fetched. In polls taken earlier this year, more than 70% of Americans believe that things could get much worse. That another economic collapse could happen. As I wrote earlier today, a high-ranking finance official from China, Xia Bin, warned yesterday that the Federal Reserves plan for a second round of quantitative easing would not work and could lead to another collapse. Both of Glenn’s guests, authors Damon Vickers and Brad Thorn agree that the scenario is a very possible one. Beck said that during the course of researching his latest book, “BROKE”, some of the 30+ economists he talked with think that even 15 days may be optimistic. A sudden crash could happen in 3 days from an event such as China ending it’s purchase of U.S. bonds.
Banknotes from different countries at the main office of the Korea Exchange Bank are seen in this picture illustration taken in Seoul October 22, 2010. A global agreement to tackle economic imbalances and fend off the prospect of damaging currency devaluations looked set to evade finance officials at the G20 meeting in South Korea. REUTERS/Truth Leem (SOUTH KOREA
If you wanted to see the 12 Days of Christmas, then watching the ‘Glenn Beck Show’ on Fox News Channel was not the place to be today. Instead, Glenn Beck laid out a scenario on how the global economy could collapse in a mere 15 days. His guests were authors Damon Vickers (“The Day The Dollar Crashes”) and Brad Thor (“The Athena Project”). Beck emphasizes that he’s not doing this to create fear and panic, but to make people aware of potential problems to be avoided, or, at least prepared for.
Day 1 of Glenn Beck’s scenario begins with China announcing that they will no longer buy U.S. Treasury bonds. This is not such a far fetched idea, as they have certainly slowed their rate of bond purchases and have voiced public criticism of Ben Bernanke’s announcement this week of a second round of quantitative easing.
Day 2 and 3 focuses on Wall Street which gets ’spooked’ by China’s announcement. The volume of stock sales is ultra low as rumors of instability abound. By Day 5, the world begins to react. Markets in Asia drop 10%. The American and European markets also decline a like amount. The European Central Bank reacts quickly, raising interest rates to attract capital as investors seek a ‘flight to safety’.
Day 7 of Glenn Beck’s scenario has the U.S. stock markets closed while the Federal Reserve Board holds an emergency meeting. Needless to say the government is certainly participating in decisions during the next 48 hours. With some vague pledge of ‘a plan’, the markets reopen on Day 8. They may even rally a bit, gaining 500 points or so. On Day 9, things seem to be stable.
Day 10 and the U.S. Dollar loses 10-15% of it’s value! The Fed’s quantitative easing has pushed a sudden burst of inflation as global banks try to divest themselves of the reserves of dollars. How possible is this? Again, following Bernanke’s statements on Wednesday, financial leaders in China, South Korea and Thailand have already said this week that they will act together, in concert, to protect themselves from a devalued dollar.
Day 11, the Fed meets again. On Day 12, in Beck’s scenario, the Fed decides to follow the Euro Bank’s move of increasing interest rates. Far from securing stability and confidence, the sudden change in direction by the Fed has the opposite affect.
Day 13, Lucky 13 — GLOBAL MELTDOWN! All of the world’s market begin to crash as confidence in ‘The System’ goes out the window. It’s every man (and lady) for themselves! The value of all paper securities, be they mortgages, stocks bonds, currency, is questionable. The markets go into total free-fall, losing perhaps 20% or more in a single day.
On Day 14 of Glenn Beck’s scenario, the IMF (International Monetary Fund) and the G20 financial leaders meet. In a televised, joint announcement, they announce an emergency plan to restructure all ’sovereign debt’, the debt held by each nation. Perhaps even a new currency or basket of currencies for global trade to replace the U.S. dollar. The beginning of the New World Order.
On Day 15, the public begins to panic. In the past two weeks, the value of their currency has declined some 20% or more. The cost of food, oil, etc, has jumped. Bank runs are televised as people get whatever cash they can and buy whatever is available from the shelves of grocery stores. The entire nation is behaving as if a hurricane is approaching. ‘The System’ is utterly swamped.
Glenn Beck’s scenario for economic collapse is not all that far fetched. In polls taken earlier this year, more than 70% of Americans believe that things could get much worse. That another economic collapse could happen. As I wrote earlier today, a high-ranking finance official from China, Xia Bin, warned yesterday that the Federal Reserves plan for a second round of quantitative easing would not work and could lead to another collapse. Both of Glenn’s guests, authors Damon Vickers and Brad Thorn agree that the scenario is a very possible one. Beck said that during the course of researching his latest book, “BROKE”, some of the 30+ economists he talked with think that even 15 days may be optimistic. A sudden crash could happen in 3 days from an event such as China ending it’s purchase of U.S. bonds.
Guilty as charged. Actually, even though managing my investments is my full time job (8 to 10 hours a day) I’m really quit lazy and only pay close attention to about quarter to half my stocks during any given week.
I restarted serious investing in PMs in 2000 using silver futures pyramiding to parlay a $100k to low 7 figures (had 90 positions at one time, unfortunately it was during the crash from $21 to around $9, stubbornly losing a ton, and since then I rarely play with more than 5 contracts at a time) and then used my profits to buy junior PM stocks that I read about (thank you mugwump, coralcalcium, wileE, siempre33, roan, apollo and a bunch of others I can’t think of right now) here, Kitco, Voy and on mexicomikes site.
I also got lucky enough to get hooked up with Rick Rule at Global resources and put $60K of Roth IRA into one of his partnerships in 2000 (and again invested in 2005) that has turned into a 20 to 25 bagger. I cheated and copied some of his picks for my self directed portfolio and also got in on a few prime private placements they suggested.
Love to buy but hate to sell so only sold enough to recoup my original stakes. If a stock went down without a good reason, I’d just keep building while it was on sale. Loaded up on lots of beaten down miners in 2009 and early 2010 at fire-sale prices.
Always liked Doug Casey’s advice. Buy 10 stocks that have a good shot at being 10 baggers and a few will go under, some will do nothing, some just go up 20 or 50%, but a couple going up 1000+ % will really grow a portfolio. I also take comfort in knowing that when the wind really blows, even the turkeys will fly. In this BULL MARKET even my losers will make money. Come on Silverado 
As an example, I had about $12k in 100k of PCFG from ‘06. Last spring I threw another couple thou at it when it got down to .0002 and in the last few weeks it has climbed as high as 7 cents yesterday. I’ve now sold enough to double my stake and I’ll let the 500k shares I have left run. Honestly, some times I get too much ego involved and don’t sell when I should though.
Glancing at my spreadsheets, in the last 10 years, actually a good many from 2003 to 2007, I’ve made huge money (5 to 100 baggers) with ANV, ALS, AUN, CHD, CPY, DY, EPL, EGD, EXN, FAN, GMO, GG,GEA, GSL, GCU, HL, IPT, IPOAF, IAU, BGO, MAG, MDG, NEM, PAAS, PRB, RDU, RFM, RMK, RGLD, SBB, SA, SSRI, SUE, SPQ, TRE, USA, UXG, VGZ, AUY.
I own over 140 stocks including energy, REE, base metals, with my PMs and fully expect 15 or 20 of them to crap out. BUT, I also expect my portfolio to be a 5 bagger overall in the next couple years. I actually fear the market paper all burning more than I worry that my stocks won’t do well.
A foolish way to invest for some, works for me. I’ve made and lost and made millions, but right this second the portfolio under my direction is up over 3000% from 2000 to 2010.
I’m really not a good stock picker and I really stink at short term trading. A good trader would have side stepped the crash and really loaded up at the bottom. If I had done that I would be up 20 times from where I am now. The only thing I take credit for is recognizing early that the government and financial world have painted themselves into a corner and printing is the only viable way out.
5 November 2010 74 Comments
By Greg Hunter’s USAWatchdog.com
One day after the Federal Reserve announced a $600-$900 billion second round of Quantitative Easing (QE2), gold and silver hit fresh all-time highs. Yesterday, the yellow metal surged more than $40 an ounce to well over $1,390 before falling back a few dollars in after hours trading. Silver, also, had a monster move! It was up more than a $1.50 per ounce. It, too, retracted slightly in after hours trading. That surge in precious metals is a debilitating rebuke of the Federal Reserve’s wild and unprecedented money printing policies. How bad is it, really, for the Fed to feel this is a good idea? Gold is acting like a predator that smells the blood of wounded prey. In this case, the prey is a much weakened Fed that seems desperate to keep its banking cartel afloat from the undertow of a sea of red ink.
It is reported that Sprott Asset Management bought 6.5 million ounces of physical silver at nearly $26 an ounce. Respected financial blog Jesse’s Café American wrote yesterday about the deal, “Some might consider the price that Sprott paid to be a ‘leading indicator’ of where silver will be going. I think when the paper Ponzi scheme actually collapses silver will be much higher than that. After all, “he who sells what isn’t his’n must buy it back or go to prison.” Unless, that is, they are running the game. Then they just pay a fine and admit no guilt.” (Click here to read the entire post from JCA.) This kind of silver buying is a big plus for the physical market and a big negative for the often questionable paper market.
Big-time buyers are driving over-sized price moves in precious metals. Hedge Funds, Sovereign Wealth Funds, big banks (like Goldman and JP Morgan) and Central Banks are now moving the markets in gold and silver bullion. Movements like the one yesterday are not mom and pop retail buyers looking to purchase a dozen Silver Eagles or a Gold Eagle coins to put into a safety deposit box.
Record high gold prices caused by the Fed printing press are not lost on Republican Congressman Ron Paul. He is the Federal Reserve’s most adamant critic and is now on the winning side of mid-term elections. A bill that would have forced a Fed audit (HR1207) failed in a House of Representatives controlled by Democrats earlier this year. Now, with Republicans taking control, Congressman Paul will gain some real power to, once again, probe into secret Fed policy. Yesterday, Reuters reported, “Paul is currently the top Republican on the House of Representatives subcommittee that oversees domestic monetary policy, and is likely to head the panel when Republicans take control of the chamber in January. . . ‘It’s an outrage, what is happening, and the Congress more or less has not said much about it . . . Eventually we’re going to have monetary reform. I do not believe the dollar can be the reserve standard of the world,’ said Paul, who has called for returning the United States to a currency backed by gold or silver.” (Click here for the complete Reuter’s story.)
It is not just the announcement of the second round of QE that has precious metals gushing new highs. It is, also, the open-ended nature of the Fed’s policy that reads, “. . . will adjust the program as needed to best foster maximum employment and price stability.” This could mean $600 billion or $6 trillion before this round of money printing has run its course. Gold (and silver) clearly smell the blood of a wounded Federal Reserve Note that is being drained of its buying power. I’ll close today’s post with a quote from a recent Jim Willie article from Goldenjackass.com. While vexing about a second round of QE, Willie wrote, “The centerpiece question, when the US bond fraud is coupled with European sovereign debt distress, comes down to WHAT IS MONEY? The answer is Gold & Silver and not much of anything else. (Click here for the goldenjackass.com.)
You wrote:
“He writes this back in June 2010. Says an Israeli attack on Iran will happen within 30 days. Then this will result in a tipping point in November, 2010.
Since no attack happened back in July 2010, then how will the tipping point happen in November 2010, when the tipping point is predicated on the attack, which never happened?”
I don’t think Clif ever actually said that the November tipping point will be caused by an Israeli attack on Iran during the summer. As I understand it (from listening to several interviews with Clif in the interim), he thinks this November event will be more along financial/economic lines rather than geopolitical ones.
Also, just as an aside, are we sure that Israel never attacked Iran? Some people think that the stuxnet virus was written in Israel as an attack upon Iran.
Unfortunately I didn’t get a chance to listen to the new Mel Fabregas interview yet and am too tired tonight so it will have to wait until tomorrow….
from newtogold. You asked where do I get these numbers on a free site. Try Yahoo Finance. “key statistics” on the left column takes you to a big collection of numbers. In the far right column, you have insider ownership % of the shares and % held by institutional investors.
Big Banker is watching you—more closely than ever.
With lenders still skittish about making new loans, credit bureaus and others are hawking services that help banks probe deeply into your financial closet. The new offerings include ways to look at your rent and utility payments, figure out your income, gauge your home’s value and even rate your banking habits based on details like whether your direct deposits have stopped.
All of this could influence your financial freedom—not to mention the number of junk-mail solicitations you receive.
Ken Lin, CEO of Credit Karma, a credit-score information website, knew he had a good credit score. But when he recently applied for a new credit card, he was rejected: The lender had flagged him as a higher credit risk because the value of his California home had declined and his mortgage principal wasn’t declining—giving away that he has an interest-only mortgage.
“It’s a lot more than just your credit score today,” he says.
![[GETGO]](http://si.wsj.net/public/resources/images/BF-AA157_GETGO_DV_20101105221827.jpg)
Mark Matcho
Your credit record still matters, of course. But here are some newer ways lenders and financial-services companies are sizing up your financial behavior and credit-worthiness:
• Bank-depositor behavior scores. Fair Isaac, the creator of the widely used FICO credit score, is marketing bank-depositor behavior scores, which are used by banks to assess their own customers.
The scores are based on balances, deposit records and withdrawal activity, says Debb Gordon, a senior principal consultant at Fair Isaac.
Unlike credit scores—which are most affected after payments are late or credit is maxed out—behavior scores can be a leading indicator of credit risk. They also can help banks identify which of their customers might be ripe for additional services and rewards programs and which might need special attention because, for instance, their direct deposits had stopped.
• Income estimation. This business took off earlier this year after the Federal Reserve allowed lenders to use credit bureaus’ income estimates to satisfy new requirements that credit-card applicants show the ability to pay their debts.
The bureaus use credit-record information, such as the size of your credit lines and the age and size of your mortgage, and plug it into models to predict your earnings. Those estimates also may be used to double-check the income you report on credit applications or to determine if you should be preapproved for credit.
You can’t see those estimates. But if you are denied credit because of them, you must be given a chance to provide additional information.
• Rent payments. An estimated 40 million consumers, including young people and people who prefer to pay in cash, have too little credit experience to generate a useful credit score. But they are likely to pay rent or utility bills, which could help credit bureaus better assess their credit-worthiness.
Experian, one of the three major credit bureaus, bought RentBureau—which collects rental-payment data from large property managers—and expects to integrate that information into credit records before the end of the year.
Even if those consumers don’t want credit, that information could help them win better rates from insurers, which may use insurance scores based on credit records, and fatten up thin credit files, which some employers check before making hiring decisions.
Credit bureaus say they also would like to offer data on cellphone payments, but have run into concerns over privacy issues, which may require legislation to untangle.
• Collection triggers. If you owe money, you can run, but you can’t hide. Credit bureaus can now send daily reports to collection companies when a debtor’s financial status changes—say, if new employment information appears or if a debt starts to decline. A drop in credit use would indicate that the consumer has more capacity to pay and a better chance of repaying other outstanding debts.
• Home values. As home values have plummeted and foreclosures have soared in many states, lenders of all stripes have become more cautious, as Mr. Lin found. Using home values as a factor in credit decisions doesn’t appear to be widespread, but it may come into play when someone in, say, Nevada or California applies for a new loan. Of course, it also could work in your favor if you are one of the roughly 25 million Americans who owns a home outright.
• Your wealth. Information about your assets other than homes and cars, which aren’t part of the credit record, may soon play a bigger role in your financial life. With a better sense of a consumer’s balance sheet, lenders might be able to target potential customers better and also have a fuller sense of their likely risk. Equifax, another of the big three credit bureaus, offers financial-service providers an estimate of liquid wealth as part of a financial “suite” of information.
As all of this becomes a widespread practice, those who are prompt and careful in all aspects of their financial life may have more options—and those who have been sloppy with, say, their bank accounts may be penalized for that.
This might account for some of the people being out of the country. Obama was in India, and could be doing business in the East before the G-20. Maybe they’ll do something earth shattering in Korea, instead of the usual empty blather. Or maybe the world will fall apart, and this will be the week the doomsayers get it right. They’ve got to get it right one of these weeks, because the predictions have been endless for the past number of years. First it’s August, then September, then…..you get the picture. 
Numerology gone crazy! Aiiiiieeeeeee!!!! Notice the four exclamation marks… 
