Forum Replies Created
- AuthorPosts
- in reply to: Stock exchange listing #3472
Thanks to the detective work of a shareholder (stock broker as well).
If you are tracking trades on that ubiquitous phantom gray market, the source of stock may be from the Bank of the West, which matched some buyers of company shares at prices ranging from a nickel to thirty cents. If this is typical of how fiduciary holders treat the assets of others or even their own, incompetence is ubiquitous permeates the brokerage industry.
I have always encouraged shareholders to take their shares out of street name and will continue to do so. The Bank of the West had 22,500 shares according to its SEC filing in June and zero in its filing in October.
Thanks again, Mister Detective for your curiosity.
in reply to: Clips from Alleghany #3471Yawn!!! Alleghany isn’t asleep, although you may think so since it has been almost one month since Scoop tapped the computer keys for a report. Sorry about that.
No one seems particularly in a hurry for winter. It’s hard to do when the warm weather continues The six or seven inches of rain two weeks ago eliminated concerns for fires and settled all the new road work at the mine. A grader was transported to Alleghany yesterday to shape the mine’s roads and pull the ditches for run off. The roads have never been in better shape going into winter. This grading will be the final touch for perfection.
The maintenance crew picked up some small pieces of quartz with gold. Some were slabbed for the jewelry market but not nearly enough to fill the back orders. Maybe the crew will get lucky and find a nice chunk worth cutting.
Nothing to report on the sale of the gold collection. With all the hullabaloo about politics and $$$$ and the traditional year-end slow down, Mike is resigned to the likelihood that nothing positive will happen until 2009. Where are those visionaries who have stepped up to secure worthwhile histories for future generations? If you have a clue, tell the guys in Alleghany how to reach them.
Gobble, gobble gobble and have a safe holiday.
in reply to: Gold Enters Major Bull Market #3469Last Friday’s close on gold was $801.60 up $57.00.
Mint Suspends Orders Amid Rush To Buy Gold.
http://www.theaustralian.news.com.au/business/story/0,28124,24687337-643,00.html
in reply to: Gold Enters Major Bull Market #3470The following excerpt was extracted from a speech given by Antal Fekete to the Economic Club of San Francisco on November 4, 2008 entitled, “Revionist Theory Of Depressions.”
Access to the outstanding speech concerning truth and markets can be made via his website at: http://www.professorfekete.com/
“Economic historians give credit to Franklin Delano Roosevelt for meeting the banking crisis head on. Only a few days after he was inagurated as president in March, 1933, he declared a bank holiday and ordered all the people under jurisdiction of the United States to surrender their gold coins.
Although Roosevelt promised to return the gold after the banking crisis had subsided, this promise was apparently made in bad faith. No sooner had he confiscated the gold than he marked up its value, leaving people with paper worth 56% less. This neat piece of presidential chincanery was called “Devaluation Of The Dollar In The National Interest.”
Everyone should print out Professor Fakete’s speech, read it slowly a few times or so until you understand what our educational system saw fit not to teach us as opposed to what they taught us to our discredit.
Three more saving institutions went belly-up on Friday as the financial meltdown picks up steam. Heaven help us all.
in reply to: Gold Enters Major Bull Market #3467Last on gold is $796.90
Got gold?
From Jim Sinclair’s website this morning:
Depression #2 Here We Come
Scan these 30 “leading indicators.” Each problem has one or more possible solutions, but lacks unified political support. Time’s running out. We’re already at the edge. Add up the trillions in debt: Any collective solution will only compound our problems, because the cumulative debt will overwhelm us, make matters worse:
1- America’s credit rating may soon be downgraded below AAA
2- Fed refusal to disclose $2 trillion loans, now the new “shadow banking system”
3- Congress has no oversight of $700 billion, and Paulson’s Wall Street Trojan Horse
4- King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets
5- Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year
6- AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers
7- American Express joins Goldman, Morgan as bank holding firms, looking for Fed money
8- Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states
9- State revenues down, taxes and debt up; hiring, spending, borrowing add even more debt
10- State, municipal, corporate pensions lost hundreds of billions on derivative swaps
11- Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up
12- Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns
13- Fed also plans to provide billions to $3.6 trillion money-market fund industry
14- Freddie Mac and Fannie Mae are bleeding cash, want to tap taxpayer dollars
15- Washington manipulating data: War not $600 billion but estimates actually $3 trillion
16- Hidden costs of $700 billion bailout are likely $5 trillion; plus $1 trillion Street write-offs
17- Commodities down, resource exporters and currencies dropping, triggering a global meltdown
18- Big three automakers near bankruptcy; unions, workers, retirees will suffer
19- Corporate bond market, both junk and top-rated, slumps more than 25%
20- Retailers bankrupt: Circuit City, Sharper Image, Mervyns; mall sales in free fall
21- Unemployment heading toward 8% plus; more 1930’s photos of soup lines
22- Government policy is dictated by 42,000 myopic, highly paid, greedy lobbyists
23- China’s sees GDP growth drop, crates $586 billion stimulus; deflation is now global, hitting even Dubai
24- Despite global recession, U.S. trade deficit continues, now at $650 billion
25- The 800-pound gorillas: Social Security, Medicare with $60 trillion in unfunded liabilities
26- Now 46 million uninsured as medical, drug costs explode
27- New-New Deal: U.S. planning billions for infrastructure, adding to unsustainable debt
28- Outgoing leaders handicapping new administration with huge liabilities
29- The “antitaxes” message is a new bubble, a new version of the American dream offering a free lunch, no sacrifices, exposing us to more false promises
30- At a recent Reuters Global Finance Summit former Goldman Sachs chairman John Whitehead was interviewed. He was also Ronald Reagan’s Deputy Secretary of State and a former chairman of the N.Y. Fed. He says America’s problems will take years and will burn trillions.
He sees “nothing but large increases in the deficit … I think it would be worse than the depression. … Before I go to sleep at night, I wonder if tomorrow is the day Moody’s and S&P will announce a downgrade of U.S. government bonds.” It’ll get worse because “the public is not prepared to increase taxes. Both parties were for reducing taxes, reducing income to government, and both parties favored a number of new programs, all very costly and all done by the government.”
Reuters concludes: “Whitehead said he is speaking out on this topic because he is concerned no lawmakers are against these new spending programs and none will stand up and call for higher taxes. ‘I just want to get people thinking about this, and to realize this is a road to disaster,’ said Whitehead. ‘I’ve always been a positive person and optimistic, but I don’t see a solution here.'”
We see the Great Depression 2. Why? Wall Street’s self-interested greed. They are their own worst enemy … and America’s too.
in reply to: Gold Enters Major Bull Market #3466GOLD $793.00 Up $48.40
It looks like the shorts and Hank Paulson’s Treasury team have gotten the MESSAGE:
China may buy 128,000,000 ounces of gold.
The big difference here is that China represents a cash buyer as opposed to a fraudulent manipulating seller.
The day is coming when gold will be back in the monetary system out of necessity not out of choice.
China’s mulling over the addition of 4,000 tons to their central bank holdings is significant.
in reply to: Gold Enters Major Bull Market #3468Last on gold is $801.60.
Posted: Nov 21 2008 By: Jim Sinclair Post Edited: November 21, 2008 at 5:36 pm
Filed under: In The News
Jim Sinclair’s Commentary
There is one inviting conclusion out there. There is no way to know for sure which banks are broke, so it is better to consider they all are.
in reply to: Gold Enters Major Bull Market #3465Gold $744.60 Up $9.70
Silver $8.92 Down $0.27
Gold/XAU Ratio 10.63
Gold/Silver Ratio 83.48
DJ Industrials 7552.29 Down 444.99
Crude Oil 48.70 Down $4.92
US Dollar Index 88.22 Up 0.44The big news today is the Dow Jones Averages crashing under the big 5000 day moving average support area at 7800 with a close of 7552.29.
A bit of good news for gold today was its breaking loose from its recent lock step action that had been maintained by the Treasury each time the general market sold off. The action in gold today is viewed as being quite positive. Could China have been buying gold today to account for the metals improving relative strength?
If the DJ Averages stay under 7800 during the weeks ahead there could be serious long term damage ahead for the DOW.
Some of the highly leveraged banking stocks are hemorrhaging to the point that depositors may soon be facing a crisis of their own in wondering what is safe anymore.
in reply to: Gold Enters Major Bull Market #3463Last on gold is $735.20.
Gold at one time was higher this morning at $764 only to have gotten smacked again by the dark forces with paper selling at the COMEX led by the strong arm of the Treasury and Hank Paulson via JP Morgan.
The following is a youtube presentation by Mr. Max Keiser doing what he does best, calling a spade a spade.
in reply to: Gold Enters Major Bull Market #3464Last on gold is $736.90.
It was reported yesterday by a Beijing paper, Guangzhou Daily, that its central bank is considering the purchase of 4000 tons of gold. This equates to their possibly acquiring 128,600,000 ounces of gold.
China currently holds $1.9 trillion in reserves mainly in US paper products. If China did commit to purchasing 4000 tons this would use up only about 5% of their reserves.
Jim Sinclair made the following comment today, “Once 21,000 bars have been taken(from COMEX) the paper gold’s reign over the price of gold is over.” 21,000 bars times 100 ounces equals 2,100,000 ounces of gold. I’m not sure if the COMEX bars are in 100 ounce lots but I figued it out that way to get total ounces anyway. If this is not correct, would someone please correct me.
The bottom line: There is a sizable potential buyer indicating, unofficially, that they may have a need for 128,600,000 ounces of gold. Where is this gold going to come from if China goes ahead with their possible buy program? What will COMEX do if China comes knocking with intentions on taking delivery?
in reply to: Gold Enters Major Bull Market #3462Last on gold is $739.10.
The following is a clear message from China to the US: get your house in order. This perceived indirect message is especially serious as it follows last weekends G20 meeting of finance ministers and central bank governors.
Adding insult to injury President Hu Jintao of China who attended the G20 gathering visited Fidel Castro directly following the meetings. China is continuing to pump money into Cuba’s economy in providing the funds for renovating and rebuilding aging hospitals and ports. China is also providing money to Costa Rica for the building of a refinery.
China PBOC Mulls Raising Gold Reserve By 4,000 Tons – Report
Wed, Nov 19 2008, 01:51 GMTChina PBOC Mulls Raising Gold Reserve By 4,000 Tons – Report
BEIJING (Dow Jones)–China’s central bank is considering raising its gold reserve by 4,000 metric tons from 600 tons to diversify risks brought by the country’s huge foreign exchange reserves, the Guangzhou Daily reported, citing unnamed industry people in Hong Kong.
The Guangzhou-based newspaper didn’t elaborate on the plan.
China’s forex reserves, at US$1.9056 trillion at the end of September, is the world’s largest. U.S. dollar-denominated assets, including U.S. treasury bonds and mortgage agency bonds, account for a big proportion of the forex reserves.
in reply to: Miscellaneous #3455Mike – Here’s an interesting web site for a “man-made” gold in quartz material. This was news to me to discover some folks in Arizona are infusing 18KT gold (and other metals) into natural quartz fissures utilizing a hydro thermal heat pressure process. The result isn’t the quality of 16-to-1’s natural beauty, but considering the lack of slabs available, this is probably selling alright to jewelers. Interesting stuff and worth looking into for reference. Paste the link below into your browser.
in reply to: Stock exchange listing #3459The following company’s provided shares statistics look suspicious:
AngloGold Ashanti
GoldFields
Harmony Gold
Agnico Eagle
Pan American Silver
in reply to: Stock exchange listing #3458Bluejay, The quotes were found on the NYSE at http://www.nyse.com/about/listed/1cddata.html?ticker. We had to research the company web sites of some on the list. Please tell us any mistakes. As Oliver Wendell Holems proclaimed, “Truth, when not sought after, rarely comes to light.”
The entries were listed on 11/12/2008 between 10:30am and 12:20pm. The ones from 2007 also came from the web site.
in reply to: Miscellaneous #3457For the second year My job as a helper was more intense than just Tramming and Mucking. My duties now included drilling and blasting. Since I was skinny my tasks also include exploring old tunnels that we would blast into. Most were full of water. It was eerie walking in a tunnel that no one had been in for a hundred years. There would be candles and empty bottles floating in the water. It was quite exciting.
During the second year I was given the job as a helper to a diamond core driller (Frank Henerson) tending chuck. One vein that stood out was later assayed out to 800 ounces to the ton. I don’t know why but we never pursued it.I was 17 so I was not consulted on that one.in reply to: Miscellaneous #3456Originally I was going to be at the Brown Bear for two weeks with my Father.
When we were packing to go home I said that I would like to stay at the mine for the summer.
We asked the President of the company. If I could stay and he said I was a good worker and that it would not be a problem.
For the first year I was given the job of trammer.My daily job consited of shoveling a ton of ore into the ore cars and then pushing out to the dump. I averaged twenty tons a day. I worked for a year at that job. After a year of observing and helping Paul Contini the Forman I was promoted to Helper. By that time the company had bought a train engine and they hired my Brother to drive it.
It was kind of strange living in Deadwood. Most weekends the other guys that lived there with me would leave and I would be alone. It gave me a lot of time to explore the area. It was really spooky being there alone .in reply to: Gold Enters Major Bull Market #3452Gold $714.00 up $4.50
Silver $9.03 down $0.22
Gold/XAU Ratio 9.71
Gold/Silver Ratio 79.09
DJ Industrials 8079.24 off 203.42
Crude Oil 55.53 0ff $0.63
US Dollar Index 87.98 plus 0.33For the fist time the Treasury’s agent JP Morgan is having difficulty keeping gold in a locked step with the declining DJ Industrial Averages.
It seems that from the action of gold today from a low of $698.50 to its last sale of $714.00, while the Dow remains in minus 200 red ink, a battle of the titans at COMEX may be in play.
Rumors have been circulating that there will be a big push in contract delivery requests for physical gold and silver for the month of December. Rumors have also been circulating that these requests may bust COMEX and force it to close as their suspected inventories do not match the amount of December contracts outstanding. Time will tell.
Its seems that such an event could settle the great disparity of prices that currently exists between paper prices at COMEX versus the physical market.
If for what any reason COMEX is unable to deliver any precious metals requested that particular metal would easily advance to new highs.
in reply to: Miscellaneous #3451Hello Gentlemen,
I have the chance coming this december to share some information to the TAPS team of the television show Ghost Hunters about paranormal events and locations here in california. I would like to share some of my personal experiences with them about some strange things that happend at the office (gym) during my time in Alleghany. Also, I would like to gather some information and personal stories from those that wish to share them so that I may share with the TAPS team and hopefully be able to trigger an intrest with them about the 16 to 1.
Ofcourse the reason why I writing about this to you guys is because I mainly would like to have the permission to do so. I dont wish to aggravate mike miller or any of the other employees any further then I have from when I was a child by doing this. If anything I think it would make great plublicity if by chance the team can investigate the mine or the office or maybe other property owned by the mine. It’s plainly obvious that I cant lock this on myself but since I am meeting with them in december I could hook them up with contact information, documents and maybe establish an intrest with them about the 16 to 1.
in reply to: Stock exchange listing #3454Mike
Just so everyone understands, what is your source for these statistics? The reason I ask is that I see some errors. In addition, if the source is using the 2008 year for comparisons then why isn’t a specific date being applied as we are still in 2008.
in reply to: Stock exchange listing #3453A REVEALING ENTRY.
I write to counter generalizations about companies in the Gold Sector and specifically our Original Sixteen to One Mine, Inc shareholder value. I recognized its value thirty-four years ago. Considering stock splits of ten for one and three for one the owners in 1975 (USA allows gold to go free for Americans) our equity has increased over sixty times, not 60% but sixty times. Capital appreciation is far from over.
This revealing entry can be found under NEWS, put on the web site today. This chart represents a twenty-month picture of many things. I realize that many successful people do not own gold shares, have little understanding how to evaluate gold companies (with good reason) and my efforts to enlighten have failed to contrast the Sixteen to One with others in the Gold Sector. My failure was recently confirmed by an e-mail I received from a writer in Germany, who pointed out that I should sell our gold collection to shareholders because they have not been rewarded. Yes, we have! Refer to the chart for a gut check into the Gold Sector. By the way I have kept data like this and more for years. Many companies no longer exist or were merged into other companies for token compensation to shareholders or nothing.
Market capitalization is a formula tossed around in stock parlance. Take the outstanding shares times the price and you get a market cap for that company. For example, Newmont Mining Corp, a favorite safe haven for stock brokers to recommend to customers, who want a gold position, increase its shares and lost price. In twenty months shareholders lost $8.24 billion dollars of equity. How about one of the junior gold companies, Coeur D’Alene Mines. Its shareholders lost over 70% of their value during the same time. I don’t know what happened to Gold Fields Ltd but shareholders took a beating.
What happened to our market cap or shareholders value? Nothing. This is not necessarily good or bad. It just is. Much can be used to analyze an investment; but my German friends observation is incorrect. Our shareholders also were not diluted, a very important consideration for future earnings. Am I happy about the financial results over the past twenty months? Absolutely not. An opportunity exists for this gold company for not only significant market cap increases but for liquidity as well. Someone just has to get serious and check us out.
Good luck with the chart, GOLD COMPANY SHARES under NEWS.
in reply to: Gold Enters Major Bull Market #3450Last on gold is $713.90.
Last on crude oil is 55.38It wouldn’t be surprising to find out that JP Morgan is forcing down oil prices with the blessings of the Treasury. Not only has JP Morgan become a major influence on gold and silver exchanges but it has entered the oil and natural gas markets within the past year or so, also, as a major player. In case most people aren’t aware of this, JP Morgan is now classified as a bank.
It seems odd these days that the banking industry is being allowed to effect prices in the commodities markets. JP Morgan and Goldman Sachs have close connections to the Treasury as they have been their main bullion banks to go to when they want gold lower. Since these guys are agents of the Treasury they basically have a blank check to accomplish the Treasury’s orders at exchanges with no questions ever asked relating to their substance.
As with the precious metals markets along with the oil and natural gas markets, JP Morgan has most probably been on the short side. It’s hard to imagine that the oil producing countries aren’t aware of Morgan’s exploits in oil and gas. It seems that we are sacrificing international relations just so the Treasury can bolster the economy somewhat as banks and other companies continue to suffer from capital loss.
Just as a reminder of why our economy is in so much trouble, some excerpts from Antal Fekete’s October 20, 2008 article entitled “The Mechanisim of Capital Destruction” are provided:
Liquidation Value of Bonded Debt
Falling interest rates destroy capital in a way that is more subtle than destruction through rising rates. The liquidation-value of debt, contracted earlier at higher rates, rises. “Liquidation value” is the lump sum it takes to liquidate debt, should it be necessary to retire it before maturity — for example, in the case of takeovers, mergers, shotgun marriages, bankruptcies, or the nationalization of the banking system. The point is that as the rate of interest falls, the liquidation value of debt rises. Why? Well, the stream of interest payments now has to be discounted at a lower rate. Therefore at maturity it falls short of liquidating the debt.
Here is a familiar example, the liquidation value of bonded debt. When the rate of interest falls, the market immediately bids up the price of bonds. The higher bond price represents the higher liquidation value of the underlying debt. The fall in the rate of interest, far from alleviating the burden of debt, aggravates it.
Bank capital has been eaten away by the fall of interest rates. The impairment has been ignored and, after 28 years of negligence the global banking system stands denuded of capital. Those shareholders who can read balance sheets see through the fancy values banks are putting on their assets. They dump the stock before bank capital goes all the way to zero.
This is not a real estate crisis, nor is it a sub-prime crisis. This is a crisis caused by the destruction (of) bank capital across the board, through the wrecker’s ball of swinging interest rates. In the final analysis, it has been caused by exiling gold from the banking system.
Dissipating Capital Under False Pretenses
People tend to have a religious faith in the Fed’s miraculous power to create something out of nothing. They think that the Fed is above capital requirements and accounting rules. They think that the Fed is above the law. They dismiss the idea that the Fed, too, can suffer from capital inadequacy, or that it may not be able to escape the ill effects of falling interest rates.
The Federal Reserve Act(as amended) explicitly forbids the Treasury from participating in the earnings of the Fed. The purpose of this provision is to retain the undivided surplus in the Federal Reserve System to meet emergencies precisely like the present crisis. The conspiracy of the Treasury and the Fed ignores this provision of the law. Year in and out the Fed remits about 90 percent of its earnings to the Treasury under false pretences, calling it the “franchise tax on Federal Reserve Notes.” No sooner had the Treasury received the remittance than it spent the proceeds, and more, on consumption. As a result, the Fed is left with no undivided surpluses and no cushion to fall back on in hard times. And the Treasury has debt far greater than it has resources to retire. This high-handed disregard for the law is motivated by the desire to foster a public image of the Fed as an institution with supernatural powers. The Fed has the magic wand and can wave it to solve any problem by throwing money at it. In this view the Fed is not a bank, but the embodiment of divine power.
in reply to: Gold Enters Major Bull Market #3449Gold $717.80 off $13.60
Silver $9.39 off $ 0.39
Gold/XAU Ratio 9.10
Gold/Silver Ratio 76.44
US Dollar 87.26 up 0.07
DJ Industrials 8395.52 off 298.44The selling by the suspected banks and the Treasury(aka PPT) continues to have its effect on the price of gold. No fundamental or technical positives seem to effect the large amounts of paper that are being thrown at gold on the COMEX Exchange in NY. The whole scenario from the Exchange, to the CFTC to the Treasury represents a rigged game which is a far cry from free markets.
Things just got a little worse with the recent naming of Larry Summers as the new Secretary of the Treasury. According to sinbob at agoracom.com Larry runs with “Geithner, Corzine, Volcker, Fisher, Phil Gramm, Bernanke, Hank Paulson, not to mention Alan Greenspan, al al are buddies; they play golf together; they have links to the Council on Foreign Relations and the Bilderbergs; they act concurrently in accordance with interests of Wall Street; they meet behind closed doors; they are on the same wave length; they are Democrats and Republicans.”
Going on sinbob states, “While they may disagree on some issues, they are firmly committed to the Washington-Wall Street Consensus. They are utterly ruthless in their management of economic and financial processes. Their actions are profit driven. Outside of their narrow interest in the “efficiency of markets,” they have little concern for “living human beings.” How are people’s lives affected by the deadly gamut of macro-economic and financial reforms, which is spearheading entire sectors of economic activity into bankruptcy.(?)
The complete article with some specific history concerning Summers in available by using the following link:
http://www.agoracom.com/ir/ECU/messages/999759.
In 1991 Larry was the Chief Economist at the World Bank and made some disturbing commments on why dumping our waste in third world countries made perfect economic sense.
Sinbob has done some excellent research into Larry Summers involvement in the 1997 Asian Crises and in the 1999 Financial Services Modernization Act that permitted OTC derivatives to blossom into the world’s current financial meltdown.
Sinbob titled his presentation as, “Putting the Fox in Charge of the Chicken Coop.”
Nothing could be closer to the truth.
in reply to: Miscellaneous #3448I suggest the company contact their representative in the House of Representatives after reading Ted Butler’s “The Real Story” http://news.silverseek.com/TedButler/1226344970.php by lodging the appropriate complaints.
The article describes with evidence how the silver and gold prices were manipulated lower following the Bear Stearns collapse by JP Morgan Chase, the U.S. Commodity Futures Trading Commission and the U.S. Treasury.
All the paper losses that holders of gold and silver along with their related company holdings have suffered is directly related to the billions that J P Morgan Chase, now a bank, has pocketed for themselves as a result of their collusion with the above named government agencies.
Not only does Mr. Butler mention reduced wealth for investors but also draws direct attention to the hardships inflicted on operating companies receiving a reduced price for their product and thus forcing miners out of work.
Mr. Jim Sinclair at http://www.jsmineset.com is organizing a chamber of mines to combat price manipulation in the shares of precious metals related companies. This is one worthy cause to be proactive in.
Everyone should e-mail their representatives in government and express their outrage based upon this article.
in reply to: Gold Enters Major Bull Market #3446Gold $742.20
Silver $ 10.19
Gols/XAU Ratio 8.39
Gold/Silver Ratio 72.84
US Dollar Index 85.81Gold is higher today by $8.30 but is down $25 from its early morning high at about $767. One wonders, when all this watering down of the metal’s price will end on practically every show of strength?
Once the current administration leaves office we will have a new captain in the control seat at the Plunge Protection Team and possibly less pressure on gold.
In the paper this morning is more bad news coming from the Treasury Department and its banking industry buddy, Hank Paulson. It is absolutely amazing how much money Paulson is costing the taxpayers and no one is slapping his hands.
Now it is being reported by Amit R. Paley from the Washington Post that the Treasury is circumventing Section 382 of the tax code and thus costing us an additional $140 billion.
According to George Yin, the former chief of staff of the Joint Committee on Taxation, the nonpartian congressional authority on taxes said, “They (the Treasury) basically repealed a 22 year old law that Congress passed as a backdoor way of providing (more) aid to banks.”
Basically, the Treasury is saying it is all right for banks to buy shell companies with losses and apply those losses against their earnings(thus avoiding income taxes).
This was sneaked by while all eyes were on formulating the relief plan funding. This is the same as taking advantage of a diversionary event to steal. How many times have we watched movies where the bank robbers create diversions for police to respond to while these same people empty the vaults of a financial institution in another part of town?
In this case, the bankers representative at the Treasury, Paulson, just handed them over $100 billion in saved tax expenses by ignoring #382. Paulson should be brought up on charges and the tax code inforced by the IRS against these bankers.
Write your Congressional representatives and Senators and complain, I did.
in reply to: Miscellaneous #3447Perhaps surprisingly, companies that bottle spring water often actually get it from springs, and can pay a high price for it at the source. You might be able to find a buyer if the spring water is of high quality, accessible, reliable in supply etc.
in reply to: Miscellaneous #3445We have pulled from inventory two great items for eBAy: a carving and a natural quartz/gold/crystal beauty (2 1/2 inches by 1 1/2 inches).
Now, let’s put our talents together and expose our investment plan to people with investment capital and a hankering for some fun and adventure, not to forget other aspects of financial gain and helping to keep gold mining in America. In California gold is the founding culture. The hard rock miner is almost extinct.
That person or persons are out there. They just do not know we exist in Alleghany.
in reply to: Miscellaneous #3444And…Oakrockranch, excellent presentation on eBay! I missed you entry offering the photography as well. We are working together here!
in reply to: Miscellaneous #3443Also….
I watch items all the time on eBay to track their placement in the global market.
Anyone can and should visit http://www.eBay.com and in the search section pull up “gold specimen” or “gold quartz” (without the quotes) to watch the action. Plenty to see. Actually, lots of Orig 16-to-1 specimens commanding top dollar pop up all the time, perhaps kid-rocks or previous purchases.
(About those kid-rocks….how valuation changes with market trends, I’ll bet the shop wishes they were still in inventory…another story…and here we’re seeing them exposed to an international marketplace.)
Everyone should go look. Bluejay’s correct. Suggesting the exposure is larger than imagined is true. The world looks.
Back to home. Mike, I don’t mean to put any pressure on this particular angle. So…test the market with some small, tiny offerings. You could test the market and exposure potential with the tiny little pieces recently recovered from the mill-flat pile.
One thing is essential: presentation in photograhy of any offering. (I’ll go on record as having a skill at this….ahem (it ain’t bragging when it’s true)… and gratis offer my time and photo experience if we go this direction.
There is currently an offering on eBay of some crystalline gold from the Diltz mine in Mariposa Co. (total weight about 2-3 pennyweight) and the last bid was $150…and the reason I bring this up is the photography is exceptional, micro-mount. It is a classic example of proper presentation.
So, if the mine does decide to offer / test the market on an auction level presentation, I’m mentioning that presentation needs to be on a level equal to the best of the best. (Check Bohnams auction house to see the most incredible presentation.)
Well, we’re moving forward here. Mike…it’s important to know, that as a long-time deep-root supporter of the mine, these suggestions aren’t meant as any kind of pressure go the eBay route. This entry is only meant get some feedback and further the idea.
After all…the 1621 gold-in-quartz should be seen on line, world-wide, in a risk-free environment.
Chime in, you guys.
When an obviously
in reply to: Miscellaneous #3442If the items put up on e-Bay for sale ship internationally we could reach millions of potential buyers.
The follwing is an excerpt from a story today at kitco.com concerning the increasing business of internet sales in China alone:
The center noted that China now has 253 million Internet users. Another survey by international credit card company Master Card predicted that the number of Internet users in China will increase to 480 million in 2010. By then, the volume of online transactions in China is expected to overtake Japan and South Korea to be the highest in Asia, the report said.
in reply to: Gold Enters Major Bull Market #3441Last on gold is $726.90.
John Embry on paper gold versus physical gold:
http://envast.blogspot.com/2008/10/john-embry-golds-game-changing-moment.html
in reply to: Miscellaneous #3435I’m not sure how well bottled drinking water will do for the 16/1. As a brand developer and marketer of similar products, I see a huge and possibly insurmountable obstacle. That being the concern of where the water is coming from. Unfortunately, mining and clean water are at opposite ends of the spectrum. Granted, most of us know mining has received this stain by poorly run operations and their association with cyanide, acids, heavy metals etc. As clean as the 16/1 may be, this notion of drinking water coming from any mining district I believe is a virtual dead end. Not to mention the cost of advertising, bottling and distribution in an already saturated market controlled by the likes of Coca-Cola and Pepsi. Recreation and tourism seem to be a hopeful direction. But they will all require cash and time to get rolling.
I feel your tough situation of sitting on a gold mine without the funds to reach the buried assets and prove to the world how amazing the 16/1 is. I think we all agree that the 16/1 is only half exploited. The opportunity is HUGE for the right set of investors. It will be tough to do any robust “outreach” programs when you’re broke though. I still think (and read here as well) that we need to move on some of the collection items via eBay. I’d be happy to run some actual tests at no cost to you. I have a perfect transaction history with eBay with over 600 completed auctions. If I were supplied the basic specifications (size, weights, gold content, artist info where needed) I could put together a compelling auction page. Funds would be made payable and mailed directly to the 16/1 and you would then drop-ship the item insured to a world market. Let’s try it Mike. Even a small trickle of money coming in would set a positive tone to the current position.
in reply to: Miscellaneous #3440Your welcome Bluejay. And I thank you too for all your posts and insights into the volatile gold trends as we all work our way through this messy economic maze. To your point, one must keep “enthusiastic” as we navigate these challenging times. My feeling has always been, no matter how great an asset we may possess, all will be lost if we lose our passion to expose it’s wealth or the drive toward a success that awaits us. I know Mike Miller believes in this philosophy, along with any seasoned miner/prospector would, and thus the more we can all band together with a united focus and determination, the better we will be tomorrow.
in reply to: Miscellaneous #3439First, I want to thank you oakrockranch for your excellent thoughts along with all your enthusiastic entries.
I noticed that the Tucson show takes place from January 24th to February in 2009. On a webpage I think it would be significant to mention that the 16-1 is the richest gold specimen mine in the world.
I think it is important to mention all the famous names in finance and mining that have had an interest in the past operations of the mine. This will shout credibility.
in reply to: Miscellaneous #3438I just had another thought… Have you ever participated in the annual TUCSON GEM & MINERAL SHOW? It’s held in February and draws world-wide attention along with top buyers and industry enthusiasts. I’ve done shows in Quartzsite, but never had the quality or quantity of goods to do Tucson. I’m not sure of the cost to have a space, but it would be a great place to exhibit the 16/1 specimens and story. Buyers tend to be very savvy with loads of cash and are ready to buy amazing specimens, mineral art and jewelry. Something more to chew on.
in reply to: Miscellaneous #3437I’m all for trying anything to see what gets traction. A “golden” beer or a “gold” liqueur (oops, thats already been done) might be profitable. But as clean and clear as the water may be, there is an issue of “perception vs. reality” I think. I’m no where near your level of expertise on mining, but I do read a lot of articles and studies slamming the California mining industry from an ecological perspective. From hazardous waste clean-up efforts at many old mining operations throughout the Sierras to the general feeling amongst young environmentalist and their lobby groups, it could be a hard hill to climb. As much as I like the idea of bottling pure water, there’s probably better ways to spend out limited resources and man-hours. One entrepreneur I remember reading about was going to tow by tugboat, large icebergs from the Gulf of Alaska. Sure, they would be smaller when they arrived for melting and bottling in Seattle, but they figured there would still be enough frozen water to make it worth the effort. Their slogan was something along the lines of the worlds purest and oldest water. I’m not sure what happened to that endeavor.
Please contact me when you’re ready to try a couple specimens, ingots or carvings on eBay. You could memo me the samples so I could do some dramatic photography and I’ll write the marketing copy for your approval. I would defer to you for any historical information, specifications and pricing parameters. If you would like to see my presence on eBay as a “power seller”, go to: http://cgi3.ebay.com/ws/eBayISAPI.dll?ViewUserPage&userid=oakrockranch
You will see I currently have my home page set up as a pottery dealer (another hobby of mine), but if I were to run auctions in the gold sector, I would revisit how this would look to the on-line buying community. Perhaps with some of your historical mining photos and folklore about the 16/1. I would want to create a bit of a buzz to get these going. Pieces from the collection are more than your standard fair of precious metal minerals and art forms – they are truly one-of-a-kind.
in reply to: Miscellaneous #3436Thanks for the constructive response. We will get a couple of items for you to offer on eBay by next week.
The Company’s water, owned since 1919, is some of the purest in California. It percolates through the underground tertiary dead river channels. When it hits bedrock, a natural spring occurs. In 1978 the Sixteen to One agreed to provide drinking water to the community of Alleghany. The water is regularly tested.
If I were to set out a water-marketing plan, it would extol the benefits of this water and relate it as “Water of Substance”. I believe that its composition has health benefits. Who knows for sure but people make claims that silver and gold tend to purify water. As far as any toxic potential, there is none. Coors markets Rocky Mountain spring water and Olympia’s slogan was, “it’s the water”. Hamms is the “land of sky blue water”. The Sixteen to One is all about gold, so there probably are some good gold or golden slogans. Maybe we should just make beer.
Now that the election is over the media should be looking for some different themes and stories to entertain the public. The Sixteen to One mine and all the tangential subjects have entertained me for over thirty years. I think the USA is ready for some gold talk and show. I’ll write Jay Leno. Maybe you can contact other entertainment or media folks.
in reply to: Miscellaneous #3434Here is what I could do to generate some income for Origsix in 2009 without any expense to Origsix at all:
I could write a book in German language on the history of the OrigSix-Mine and publish this book over here in Germany at my own expense.
All I would need from OrigSix is written consent from the management to use the material on this website for the book.
I am offering a royalty fee per book that is sold over here in Germany in the amount of US$ 1,00 per book, payable to OrigSix within 30 days after the sale.
Due to structural differences in the book-retail-markets in the US and Germany respectively, a book on OrigSix would be much easier to market over here in Germany than in the US, because I have no sales-outlets in the US.
But if you would like me to do the book as a bilingual version (left pages in English, right pages in German) I could do that too. Such a book could probably be sold at the mine- offices or via the website to English readers as well.
in reply to: Gold Enters Major Bull Market #3431Last on gold is $758.40.
Rumor Flash
It has been reported from Lichtenstein, Germany that our 1933 gold coin melt bars are showing up in world markets.
The following was reported to the Agoracom.com’s ECU forum page by member ESL:
“My colleague in Lichtenstein confirmed the proliferation of these bars on the European market and I just received information that dealers in Dubai are seeing them all over the place.”
If this is true, all responsible should be put in jail. Putting Paulson, the great gold liquidator of the 90’s, in charge of the Treasury was like putting the fox in charge of the hen-house.
How much money have all the ex-Goldman Sachs employees stolen from taxpayers since they became employess of the U.S. government at the Department of the Treasury?
Is there any wonder when Paulson first pushed his way into Nancy Pelosi’s office looking for billions that he also requested immunity from prosecution?
in reply to: Gold Enters Major Bull Market #3430Gold $762.40 up $40.40
Silver $10.51 up $ 0.71
Gold/XAU Ratio 8.49
Gold/Silver Ratio 72.61
Dollar Index 85.01 off 1.39Gold is higher today following a weak dollar. Strong long term overhead resistance on the dollar chart is located at the 90 to 91.50 area. The dollar’s high on its recent three month surge has been about 88.30. It is suspected that the dollar has already topped from its recent fast moving bear market rally.
It appears that too many dollar holders are falling over themselves as they become more aggressive in exiting their positions in the 87 to 88 area. Time will tell for them if they should have begun to liquidate their holdings sooner and at lower levels.
It’s a great time to be considering selling the U.S. dollar and buying the Canadian dollar at .8621, the Australian dollar at .6996 and the Swiss Franc at .8661. The Canadian dollar is already up smartly from its recent lows in the .78 area.
As the U.S. dollar regains its terminal slide gold will benefit. We just have witnessed over the past months one of the most vicious bull market shakeouts in precious metals, base metals and their shares in recent history.
Historical charts clearly show that new intermediate bull markets, within major bull markets, spawn from the ashes of these types of breakdowns.
Last on gold is $756.80.
in reply to: Miscellaneous #3433Consider putting a couple of the less interesting sculptures on ebay with a reserve price equal to the value for which they would sell if cut up for jewelry. If the sculptures don’t beat the reserve, sell them for jewelry instead.
- AuthorPosts
