Oldtent Archives 2010

longs are just falling back–saving their ammo for tomorrow–for the big squeeze-

Most Interesting…Knotts Berry Farm . I have now only have vague memories. Stay around Macroman…every bit of help is well appreciated.  You probably know but, I forgot that story.

I can actually remember where I was travelling in 1980 as a 15 year old. For a week or two, the business report would come on over the car radio almost at the same intersection on the way to school. Gold was over $700US and hitting $850 in a short period of time. Being a Canuck, when it hit $1000 CA, it was a big deal. I never forgot that, just as I never forgot panning for gold at Knott’s Berry Farm about 5 years before that. Gata be in me blood!

Got more trivial gold stories…mm

http://markostake.blogspot.com/2010/11/missile-crisis-that-never-ended.html

Marko

….Priceless….leave it to the Israelis

Dave from Denver…

Saturday, November 20, 2010
While The U.S. Prints And Spends, Russia Loads The Boat With Gold…
This chart is sourced from Casey Research, Ed Steer’s Gold and Silver Daily. The Russian Central Bank purchased another 600k ozs of gold in October (some is purchased on the open market, some is purchased from internal mining production). I think the message of this chart, combined with China’s demure announcement about accumulating a lot more gold, is pretty clear: get ready for some kind of gold-based currency standard at some point down the road.

4.bp.blogspot.com/_J8L-e47yFE0/TOfsMn-j82I/AAAA
AAAAAqM/xPGnQxoM-Ys/s1600/Russian-October-Gold-enlarge.gifhttp://4.bp.blogspot.com/_J8L-e47yFE0/TOfsMn-j82I/AAAAAAAAAqM/xPGn
QxoM-Ys/s1600/Russian-October-Gold-enlarge.gif

(click on chart to enlarge)

Year-to-date Russia has accumulated 4.6 million ounces. That’s roughly 131 tonnes. That’s a lot of gold, especially considering that the ECB sold barely any of the 400 tonnes permitted under the Washington Agreement. Now we know why the IMF decided to unload 404 tonnes. Think about where the price of gold might be if the IMF had not supplied the world this year.

I mentioned earlier in this week in the comment section that it was my belief that, other than France, the EU Central Banks are largely out of gold - either via leasing or outright sales. Anyone who has studied this topic thoroughly, of course, knows that it is likely that most if not all of the U.S. gold is either sold or leased. Given the aggressive and large-scale accumulation underway by China, Russia, Iran, et al, 2011 should prove to be a very interesting year for anyone who has already positioned themselves ahead of what will inevitably be a substantial move higher in the price of gold, especially as valued in U.S. dollars.

Thanks for your response. Wish you and all Tenters well.. Exchange of ideas is always interesting.

If that is not a spoof, it’s perfect…. other than anthrax and other biological ailments.

That got a good laff, looks like a SNL skit to back up the TSA one.

mm

Lebanese Central Banker, FGC. Thanks for letting me know you read it.

“I’m 63 and I’m Tired”
>                                By Robert A. Hall
>
>
>                                I’m 63.  Except for one semester in college
> when jobs were scarce and a six-month period when I was between jobs, but
> job-hunting every day, I’ve worked, hard, since I was 18. Despite some
> health challenges, I still put in 50-hour weeks, and haven’t called in
> sick
> in seven or eight years. I make a good salary, but I didn’t inherit my job
> or my income, and I worked to get where I am. Given the economy, there’s
> no
> retirement in sight, and I’m tired. Very tired.
>
>                                I’m tired of being told that I have to
> “spread the wealth” to people who don’t have my work ethic. I’m tired of
> being told the government will take the money I earned, by force if
> necessary, and give it to people too lazy to earn it.
>
>                                I’m tired of being told that Islam is a
> “Religion of Peace,” when every day I can read dozens of stories of Muslim
> men killing their sisters, wives and daughters for their family “honor”;
> of
> Muslims rioting over some slight offense; of Muslims murdering Christian
> and
>
> Jews because they aren’t “believers”; of Muslims burning schools for
> girls;
> of Muslims stoning teenage rape victims to death for “adultery”; of
> Muslims
> mutilating the genitals of little girls; all in the name of Allah, because
> the Qur’an and Shari’a law tells them to.
>
>                                I’m tired of being told that out of
> “tolerance for other cultures” we must let Saudi Arabia use our oil money
> to
>
> fund mosques and mandrassa Islamic schools to preach hate in America and
> Canada, while no American nor Canadian group is allowed to fund a church,
> synagogue or religious school in Saudi Arabia to teach love and tolerance.
>
>                                I’m tired of being told I must lower my
> living standard to fight global warming, which no one is allowed to
> debate.
>
>
>                                I’m tired of being told that drug addicts
> have a disease, and I must help support and treat them, and pay for the
> damage they do. Did a giant germ rush out of a dark alley, grab them, and
> stuff white powder up their noses while they tried to fight it off?
>
>                                I’m tired of hearing wealthy athletes,
> entertainers and politicians of both parties talking about innocent
> mistakes, stupid mistakes or youthful mistakes, when we all know they
> think
> their only mistake was getting caught. I’m tired of people with a sense of
> entitlement, rich or poor.
>
>                                I’m real tired of people who don’t take
> responsibility for their lives and actions. I’m tired of hearing them
> blame
> the government, or discrimination or big-whatever for their problems.
>
>                                Yes, I’m damn tired. But I’m also glad to
> be
>
> 63. Because, mostly, I’m not going to have to see the world these people
> are
>
> making. I’m just sorry for my granddaughter.
>
>                                Robert  A. Hall is a Marine Vietnam veteran
> who served five terms in the Massachusetts State Senate.
>

I might not have to see my shrink in the morning… I could spend that on silver Maples…

Might calm all the voices…

mm

Subject: AIR TRAVEL-ISRAELI STYLE

The Israelis are developing an airport security device that eliminates the privacy concerns that come with full-body scanners at the airports.
It is an armored booth that you step into that will not X-ray you; instead,it will detonate any explosive device that you may have on your person.
Israel sees this as a win-win situation for everyone, with none of this foolishness about racial profiling It will also eliminate the costs of a long and expensive trial.

You could be in an airport terminal and you hear a muffled explosion. Shortly thereafter, an announcement:
“Attention standby passengers —- we now have a seat available on Flight 3697. Shalom!”

 This is from Jason Hommel

Obama administration wants Muslim women exempt from TSA searches.
http://cofcc.org/2010/11/obama-administration-muslim-women-exempt-tsa-searches/

Well I won’t give it away..just got a hunch.  Welcome back.

Now, for my own strange view:  time …2 weeks down ..1 week up= …final down (1/2 weeks)  ..rising support line @ Gold $1,370 and slowly rising.  Then the HUI  and gold stocks rocket well beyond the metal increase.

[GRC] NEWS
PRESS RELEASE
NOVEMBER 23, 2010
NYSE Amex: GORO

GOLD RESOURCE CORPORATION COMMENCES MINING ARISTA VEIN SYSTEM

HIRES MEXICO COUNTRY MANAGER

DENVER – November 23, 2010 – Gold Resource Corporation (GORO) (NYSE Amex: GORO) is pleased to announce the commencement of underground mining and stockpiling of its La Arista deposit ore at the Company’s El Aguila Project.. The Company is also pleased to announce the hiring of Mr. Juan Manuel Flores as Mexico Country Manager. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.

Gold Resource Corporation’s polymetallic Arista vein deposit contains high-grade gold and silver mineralization with by-product credits of copper, lead and zinc. The Arista Vein system is made up of multiple en echelon veins with the two predominant veins being the Baja and the Arista veins. Both veins have been intercepted and as mine development continues high-grade ore is being stockpiled.

Mr. Juan Manuel Flores joins Gold Resource Corporation as Mexico Country Manager. Mr. Flores has over 30+ years of experience in the mining, metallurgy and construction industries. His experience includes country manager, general manager, operations manager, project manager, mine superintendent of different mines and processing operations, in some of the most productive underground and open pit mines in Mexico.

Mr. Flores’ mining company associations include Minera Rio Tinto SA De CV, Constellation Copper, Pan American Gold Fields, Harrison Western, Mine Finders, Minera Frisco, Industrial Minera Mexico (ex-Asarco), Minas de Bacis, Cozamin, Grupo Mexbel and Groupo Summa. Mr. Flores graduated as a Mining and Metallurgist Engineer from the Universidad Autonoma de Chihuahua and in 1973 and 1974 attended the courses of the Master of Science Program, Mineral Economics, at the Colorado School of Mines.

Gold Resource Corporation’s President, Mr. Jason Reid, stated, “We welcome Mr. Flores as he will complement our excellent team of professionals. We are building a first class underground mine under the expert direction of our Project Manager, Mr. Jorge Sanchez Del Toro, and with the addition of Mr. Flores, in concert with our dedicated staff of professionals, the Company is executing its plan for aggressive growth.”

Mr. Jason Reid continued, “Commencement of stockpiling underground Arista ore, in the fourth quarter as planned, is a significant milestone for the El Aquila Project. We are presently mining the Baja vein and developing the Arista vein on the 4th level. Our spiral decline (see photo) will be to level 5 shortly where we will add additional working faces to the mining of the Baja and Arista veins.”

“We have asked our team to evaluate an accelerated schedule to process the Arista deposit high-grade polymetallic ore as soon as practicable. We want to process our highest grade ore during this time of historically high metal prices.” stated Mr. Jason Reid.

For complete press release including photo click (or cut and past) the following link to your web browser: http://www.goldresourcecorp.com/releases/GRC-2010-11-23-1.pdf

[GRC] News

Updated El Aguila Project photos as of 11/22/2010:
http://www.goldresourcecorp.com/presentation/progress/player.html

Macroman was here in the old days.  Or was it GE?  Anyway he’s an ole timer.

Not sure what BS you are refering to but I’ve been a gold bull since 1986. I looked like a tool for more than a decade. I really started to see the big picture in 1997/98 with the Asian crises, LTCM, Russian meltdown and the Clinton meaning of “Is”, which lead to the Sudan and Afghanistan cruise missle derby that led to 911. That is as short a synopsis as possible… many other discrete suppression schemes after that we’re all privy to.

Biggest stock idea you ask? ABZ Going to the Grand Canyon for Xmas, Copperstone and then Palm Springs. Hope to catch a few quality goldbugs for a quickie visit along the way.

Have a lovely evening, mm

and you ain’t any slow on the uptake either, from what I read.

mm

Welcome!   Now for the tough stuff…yer view on the PM market?  Got any great PM stocks?   Let’s see what you got…or is it just more BS..BS..BS. Well you get the idea.

By LANDON THOMAS Jr.

Published: November 22, 2010

DUBLIN — The Irish government faced imminent collapse on Monday, only a day after it signed off on a $100 billion bailout, setting the stage for a new election early next year and injecting the threat of political instability into a European financial crisis that already has markets on edge.

Confronted with high-level defections from his governing coalition, Prime Minister Brian Cowen said he would dissolve the government after passage of the country’s crucial 2011 budget early in December.

His announcement capped a grim day for Ireland, as protesters tried to storm the Parliament building in Dublin, and Moody’s Investors Service, the ratings agency, lowered the rating on Irish debt by several notches.

In agreeing to new elections, Mr. Cowen seemed sure to become the first political casualty of the debt crisis in the 16-member euro zone.

The developments sent a chill through financial markets and political circles in the euro zone, where the severe austerity measures imposed to keep the currency union from fracturing have yet to be tested in general elections.

The impending collapse of the Irish government after an expensive bailout seemed only to reconfirm fears that the financial crisis was far from contained.

Analysts warned that deeply indebted countries like Portugal and Spain that are pushing through unpopular budget cuts may soon face an uncomfortable choice: punishment by financial markets that will hammer any laxity in deficit-cutting with exorbitant interest rates, or by an angry electorate annoyed by prolonged economic hardship.

“It will be the same story with all these countries — Ireland is just ahead of the game,” said Desmond Lachman, a former policy executive from the International Monetary Fund who is now with the American Enterprise Institute in Washington. “They all have a fixed exchange rate and have to make these massive adjustments, so people are asking whether they are on the right path.”

Mr. Cowen’s political skills helped keep him in office as he presided over three consecutive years of a shrinking economy, the biggest bank collapse outside of Iceland and a humiliating bailout. But his hand was forced by a coalition partner, the Green Party, which announced that it would pull out of the government once a series of fiscal packages and budgets were in place next month, and by backbenchers in his own party, Fianna Fail.

“There are occasions when the imperative of serving the national interest transcends other concerns, including party political and personal concerns,” Mr. Cowen said in a statement. “This is one such occasion.”

In his statement, Mr. Cowen said his government would present a four-year plan to reduce the deficit to 3 percent of gross domestic product by 2014, from 32 percent, and preside over the 2011 budget to be voted on Dec. 7.

Passage of the budget, which will call for $8.2 billion in savings, will be the first major hurdle the government faces to ensure receipt of the $100 billion it desperately needs to remain solvent. The Green Party defection came as a shock even to Mr. Cowen, who huddled with its leaders for five hours on Sunday and had no idea they were on the verge of calling for a new election.

Whatever the case, it is now almost certain that a general election will be held early next year.

“The mood in the country is for an election, and the people want a new mandate — that much is clear,” said Joan Burton, deputy leader for the opposition Labour Party.

Ms. Burton, who is also the financial spokeswoman for Labour, said that party leaders would need to see more details on the budget proposed by Mr. Cowen, and that until they did, they were not inclined to recommend it.

But the leader of the Green Party, John Gormley, made clear in a statement that he would not jeopardize the country’s financial bailout by challenging the budget, even though it is likely to call for such harsh measures as a sharp decrease in the minimum wage (currently one of the highest in Europe) and reductions to universal child benefits — payments the country makes to parents with children regardless of their income level.

In capitulating to a chorus of calls for new elections and his resignation, Mr. Cowen said, “The interests of the electorate, of all our people, will not be served by delaying, or worse still casting into doubt, the steps which are necessary to secure our economy and financial stability.”

For Mr. Cowen and his Fianna Fail party, which has been in power since 1987, this represents a stunningly rapid fall from grace — but one that arguably might have occurred sooner. Mr. Cowen, before he became party leader in 2008, was finance minister as the seeds of the Irish real estate boom were being sowed in the early part of this decade.

That he has lasted this long is a testament to his undisputed skills as a cagey political infighter.

But the time for backroom dealing is done in Ireland — as it may well be in other European countries, facing the growing strains of high unemployment and stagnating growth (Portugal and Spain are expected to have no growth this year, while Ireland is hoping for just over 1 percent).

The intervention of the European Union and the International Monetary Fund, while expected, has come as a shock to Irish citizens who are deeply disturbed by the prospect that the fund will force even deeper cuts on a populace battered by recession.

Over the past four days the International Monetary Fund team has been holed up in a luxury hotel in Dublin, trailed by photographers whenever they take the short taxi ride to the Central Bank or the Finance Ministry.

The chief of the team, Ajai Chopra, is referred to in the tabloids as “Ajai the Chopper,” and the hottest-selling clothing item in Dublin is a T-shirt that says, “The I.M.F. took me coat.”

I don’t own the place and everything I have refered to is past posts.

I don’t wish to be combative, just provocative. A little personality is good.

This is a great site as long as everyone minds their manners.

Cheers mm

Since Irish had no comeback I thought I may have been indelicate.  I deleted it.  May be a sore spot.

If they were to jail all the crooks on Wall Street what an empty place it would be.  A veritable ghost town!

“roping feral hogs”  What are you using for rope?  30-06 brand? 

“our Kenyan president”  Ahh yes I grokked on that after I replied.  A little slow.

….you are a reincarnation right ?

…..you bust in here like you own the place…

….your last several posts seem to refer to nothing that was posted here

…..how about maybe telling us a little about yourself first ?