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- in reply to: Stock exchange listing #4003
Investor
Could you please tell us what Country your living in,and what respected brokerage filled you order.
Thanksin reply to: Stock exchange listing #4002Rockroby,
I chose 16 to 1 because, after analyzing micro-caps gold mining companies, it is far the biggest bargain, the cheapest one.
Regards,For those others who feel touched by being quoted, please consider that one can be aggressive without directly quoting the other person. I think that is the case of the message which I refuted erroneously. Depending on me, let’s just forget it. White flag.
in reply to: Stock exchange listing #4001If I am to be quoted on this board, I would appreciate it if I am extended the same courtesy that I extend to others when I quote them by not changing the words around and in the same breath extending inappropriate advice.
in reply to: Gold Enters Major Bull Market #4006Last on gold is $1104.50.
In the link below Ronald Rosen presents the case for gold dropping to the $640 to $650 area by 10/20/10. All I can say is that the metal is in a bull market. Could Ronald be right? Mr. Jim Sinclair says around April of 2011 gold will hit $1650. Jim Sinclair also said that there will be wide swings in this market going forward. Personally, I’ve mentioned recently that there is an outside chance of gold trading lower on a reaction to around $935 or so, to reaching higher to $1200 on this move.
I think it makes sense to have some extra funds always available “just in case” during this bull market. As a long term investor in this sector mainly since 2003, I’m going to remain about fully invested until much higher levels arrive with, sharp intermediate declines or not.
in reply to: Gold Enters Major Bull Market #4005Gold is pushing higher tonight, last is $1104.60.
in reply to: Stock exchange listing #4000Investor
I do think you got lucky and got 47,000 shares for the price of a medium pizza.Could you please give us a little more information,like what well respected brokerage house you made the trade with?and what country are you from?what made you choose the 16 to 1 instead of other producing miners?
I myself have looked to the past and have seen the same things happening just like 1979(when i was young,dumb & poor)so I have been dumping all the cash I can get my hands on into gold and silver companies.
Like IAG,EGO,GSS,NGD,NXG,JAG,RBY and the list goes on 42 in all so far and would like a few more.
I have shares of the Sixteen to One Mine on both my UBS & Etrade accounts and will be sending them $2,000 soon to get some certs at home so I can put them with the gold and silver I have in a safe at home,might pull some of my others out to get physical shares I can hold myself.
I myself can’t get a buy through Etrade right now even at .55 cents for a thousand shares and if I go through UBS it takes time but will go through at anywhere from .05 too .45 cents(have too many shares in my UBS account)
I think most of us involved in this company would just like a little more info on the trades you made.
Thank Youin reply to: Stock exchange listing #4004Investor
Bluyjay was right,he only said you got one third of 1% and not sure what the problem is in telling us what Country you’re from and what brokerage firm you used since your the one who brought it up.Starting to sound more and more fishy to me.
Please explainin reply to: Stock exchange listing #3999Mr. Miller,
Thank you for your message. I really appreciated it.
I really do not know why foreigners are not calling America’s oldest gold company with buckets full of dollar. Maybe they do not know it exists.
I work for myself. I do not represent any kind of group supposedly able to heavily invest in a mining company. That is why I fear I am not able to find some other foreign investors to do it.
Nevertheless, I can tell you some subtle impressions from one that just came across this bargain through internet searching.
First of all, this company certainly has a “charming” appeal: gold mining is fascinating and impacts the subconscious of people. Communication, as a whole, also seems to not be a problem: you have a very good website. So, what is wrong? Maybe the suspicion that all of you show in your messages against “Wall Street” precludes you to search financial professional help to better evaluate this company. If you do not like Wall Street, why not Toronto?
I certainly not believe in a “perfect marketplace”. There is a joke about two economists which see a gold coin on the ground and do not bend to catch it, arguing that if it were real some one would have taken it before. The same occurs in Stock Market. The examples I mentioned in my first message are absolutely real. When I used to negotiate stocks only in my country, there were only 300 companies to choose. When I decided to start to analyze American companies, I was introduced to a universe of more than 10,000 different public companies. I guess it may occur that some of these companies are so “forgotten” by analysts as it causes the incredible to occur: the whole company having a market value of an old car.
In order to change it, I encourage you to contact any Investment Banking. Maybe they present you a plan to increase the market value of the company to a more realistic value as it enables the company to really go public in a follow-on stock issuing, picking up the so needed resources at a real pricing. The valuable assets that you mentioned in your message may be the support to fund it.
I cannot answer to you why the start Gold Corporation with 82 million outstanding shares, no operation and questionable assets, as you said, has a market cap of USD 101 million. Maybe the stock promoters were competent to do it. However, if you disregard completely “stock promoters”, please do not complain about the reality.
When you just go across CNBC Stock Screener (http://www.cnbc.com/id/15839076/site/14081545/), create a custom screen and selects “gold mining” in the option “industry” in the category “company overview”, you obtain 181 matches. If you rank them by crescent Market Cap, you will see “Batavia Mining” and Bolivar Gold” with no market cap and Original Sixteen in third place with the “incredible” USD 2.67 k Market Cap. In the other extreme of the ranking, you will see as the most valuable gold companies Barrick Gold (USD 44 billion), Goldcorp (USD 32 billion) and Newmont (USD 23 million). I am saying that just to tell you (what you probably know) that the intermediary positions are occupied by all kind of gold mining, but much of them are negotiated in Toronto, which is the specialized Stock Exchange for small and pre-operation gold mining companies.
Just to sum up, I would like to see the Original Sixteen to One Mine, Inc. more actively marketed in the financial markets. It seems that people have just forgotten it.
Best regards,
To Mr. Bluejay, please just study math. 47,110 shares are not 1/3 of the company. It is only 0.35% of the company.
in reply to: Stock exchange listing #3998The information submitted to our forum page concerning buying 47M shares for less than $10 is highly suspect. Sorry, I don’t believe any part of it, nor do I believe any real trades took place at the suggested price of $0.0002.
How can this person buy at such ridiculous prices when there are bids from other shareholders at 10 cents and under in NY.
This whole thing is a fairy tale of buying a 1/3 of a percent of the company for about 10 bucks.
Sorry, I can’t swallow any of this. The only way to buy shares this way is to be a registered trader or market marker for the 16-1 in NY. Why would a registered trader ever permit a customer order to buy so cheaply? Just think about it, what is the lowest price any shareholder paid for our company’s stock in NY? Was it ever $0.0002, of course not.
in reply to: Stock exchange listing #3996That’s what went down,someone in a different country got lucky and ended up with forty seven thousand shares for the price of a medium pizza.Those shares should have cost him $20,000 plus like my shares cost me.Instead of bragging about it he should send the company some cash if he expects it to get back to mining.
in reply to: Stock exchange listing #3995Mr. Miller,
please let to introduce me. I am a foreign investor who understand that, despite recent problems your country faced, YOU still live in the wealthiest, freest and most powerful nation on Earth. The fact is that the problems U.S.A faced generated one of the best opportunities for foreign investors ever to buy stocks in America. Just in last February, for instance, if we consider market value, a company like Dana (worldwide leader in some autoparts), with plants in 70 countries, was evaluated at USD 20 million. Or a forestry giant like Boise, achieved at the bottom a market value of mere USD 1 million.
Certainly no one could be able to buy these companies at the prices above mentioned, as the shares of these companies sold at so incredible prices would be maybe 1% or 2% of total shares. Nevertheless, if someone was wise enough to acquire 1% of Dana for USD 200,000.00, he would now have a small fortune of USD 6 million. Not bad a 3000% investment in 8 months…
That is just a real example. Your job of researching gold in the mountains is very respectful, but please do not disregard the job of those, like me, who deeply dig in financials, statistics and stock screeners to find a real undervaluated jewel which is supposed to become a multibagger investment. Great people like Warren Buffet do this all the time and are very respectful. If I bidded orders at fractions of a penny and was attended by the seller, good luck for me. The reasons hold by the seller to do what he did is not my problem at all.
As far as I know, too, naked short selling is forbidden in USA. If some one did this, it is also not my problem. I just bought 47,110 OSTO.PK stocks through a solid and respectful global financial institution and consequently I am legally entitled as the owner of them.
If I get to buy more, that’s better. If not, I am satisfied of being the owner of 0.35% of the Original Sixteen to One Mine, Inc. and have no intention at all to sell it at some cents. If this company gets better evaluated at stock exchanges, maybe I will sell. If not, I am very glad to remain as a shareholder (at almost zero cost) of a company which I see has much history and a very interesting website. The current disclosed financials are weak as you know and I really expect you and other executives could do your job and manage to improve them.
Best regards,
in reply to: Stock exchange listing #3997To the new foreign investor (see entry below).
I appreciate your logic and the time you spent telling our web readers about your successful purchases. It totally baffles economic/investment/speculative thinking that foreigners are not calling America’s oldest gold company with buckets full of our much-needed dollars. Can you offer an explanation?
Management has always treated its first corporate duty as the gold mine. This has been consistent sine 1896 when the Sixteen to One vein was located. Nothing has changed in over 100 years. The next duty is to grow our mining assets, which also has continued over 100 years and up to our last acquisition in 2005. Next comes profitability and marketing gold, which leads to cutting dividends. (Remember that in the USA a corporation will pay a tax and each shareholder will also pay a tax, so shareholders face double taxation.) A dividend in gold is a real possibility with this Company.
Besides the tax consequences, another way for the corporate owners to take down a profit is to sell out of the company, thereby giving up the prospect of dividends. When I hustled proxies between 1975 and 1983, shareholders repeatedly told me stories about how much the annual dividend check from the Sixteen to One helped them through the depression and other hard times. I believed their stories because the Company’s records prove it was a generous payer of dividends. Creating an honest (if possible) marketplace for buyers and sellers to barter a price is one of management’s high goals. Why? Two reasons drive this objective: our treasury shares (unauthorized or unissued) become a tool for the Company to grow our assets without dilution (if management is smart about negotiating for new assets). The 100-year history of the Company indicates that its management has been very smart in dealing with its treasury stock.
With regard to our weak financials, our balance sheet is horribly unrealistic. There is nothing management can do about challenging GAAP and its guidelines on booking asset value. Our properties are booked at ancient acquisition prices; standing timber, water rights, gold inventory values, capital improvements, goodwill and more are either non reported or terribly understated. Many small gold companies misrepresent their worth. Right now a start up, public traded gold corporation with 82,000,000 outstanding shares, no operation, $300,000 of questionable assets has a market cap of $101,000,000 (shares outstanding times share price). Stock promoters have pushed the share price above $1.24. What a joke!
Management is not hanging around Alleghany, wringing its hands in despair, spending dollars unwisely or drinking all the beer, wine, vodka or whiskey in town to wash away the blues. Frustrated, yes. Not sure how to meet some real investors who have the ability to smell a hot deal and jump on it before some other smart investors take action would be an accurate appraisal of the times, yes. Damn, gold over $1,000 an ounce and likely to go higher. Damn, where have the adventurers gone? Have the gold bugs of the 1970’s and 80’s all died? Are they extinct or just endangered specie sulking in fear? Do the youthful capitalists think this attack on the dollar will vanish?
I like what Rockroby wrote. Instead of sending the Company your cash, find us some foreign investors, people interested in joining this gold mining operation. They will never regret it and all shareholders will high five you at the next annual meeting in Alleghany in June. I’ll be at the front of the line.
You are encouraged to contact the broker and order out a stock certificate to protect your investment. It will be personally signed by me. Regards.
in reply to: Gold Enters Major Bull Market #3994Gold closed out the week at $1096.90 after briefly passing $1100 earlier today. The media attributed the metal’s strength to the Labor Department’s disclosure that unemployment had passed the 10% level to 10.2%.
http://www.jsmineset.com carried today an advertisement from John Williams of Shadow Government Statistics out of Oakland, California that shows from his research in chart form that the real unemployment figure is over 22%.
Jim Sinclair from time to time quotes the widely respected John Williams.
If it’s still available on the jsmineset website, Jim has provided a link to the recent thoughts of Martin Armstrong. Martin Armstrong may be one of the most brilliant minds in the world today.
Both John Williams and Martin Armstrong are patriots who both call it the way it is, as opposed to our elected officials who, I suspect, just make it up as they go along for whatever benefits them.
in reply to: Gold Enters Major Bull Market #3993Last on gold is $1091.40
I know this might be a touchy subject for some but I believe the time has come to be more specific in identifying the nature of our business in our corporate title.
Here are a few thoughts:
16 to 1 Gold Mining and Exploration
Alleghany Consolidated Gold
Thinking of names could be endless. The point is we need GOLD in our name. The day is coming when the public will start their research for small gold and silver related companies. There was once a company, years ago, on the American Stock Exchange with gold in its name. The company had nothing to do with gold mining but each time the gold shares rallied this one always went up in sympathy.
Isn’t it ironic that our stock does nothing with new highs on gold everyday while another company that has gold in its name but is not a gold affiliated company just might go up?
The lack of the word gold in our corporate title is another one of our untapped assets.
in reply to: Gold Enters Major Bull Market #3990Last on gold is $1088.40 after hitting a high of $1095 earlier in London.
The following is an excerpt from David Vaughn’s 11-03-09 kitco.com article entitled, “Are Safe Deposit Boxes Safe? No”
C. S. Lewis
Ready To Start Speculating In Gold Mining Stocks?
How do you know which junior mining stocks are quality and worth buying? While there are many who believe management is the most important asset to a quality mining company…I say it’s whether or not they have the gold in the ground.
Sure, management is extremely important, but so is the fact of whether or not the company has discovered an economically viable deposit.
I have seen many top notch managers who maybe find one good deposit in their lifetime. A few who have repeated their success. But why guess a mans yet undetermined future success? Look for the company that has already proven they have the yellow stuff in the ground. If it’s that good a find there is even the additional good chance the company may be bought out by a major for a premium.
Jim Sinclair – “As gold makes its way past $1000 to $1650 and beyond, the order up to now has been Major Producers and the top half of Junior Producers benefiting…” “Watch closely now as a shift takes place.”
”…I anticipate that the bottom half of Junior Producers and the viable companies in Gold Exploration entities to outperform the top half of Junior Producers and Major Producers as the price of gold continues higher in late 2009 and 2010.” ”History tells us this is how it has always happened, and I believe it will again.” Respectfully, Jim Sinclair
in reply to: Gold Enters Major Bull Market #3992As should be done first…read directly below.
Next….the battle between private sector autonomy in operating this mine vs. regulatory theives will become more and more evident as this mining gem continues to attract attention and somehow goes further along un-noticed by the private sector.
Major gold inside a mine with major highgrade history, untapped potential…given the trend, I see the road-blocks that have been thrown down in the pursuit of the historic success of this endeavor soon to be relegated to the dust pan.
in reply to: Gold Enters Major Bull Market #3991Gold mining for us little guys has always been a mystery for many smart people to grasp. Years ago for my own amusement (since my first, middle and last names begin with M) I wrote an essay about the Three M’s of mining. They are Men-Money-Minerals. Its printed on this web site or published somewhere in some article. The writer Bluejay mentioned below hits this theme. I’m sure others will follow because that is the way with the flock of analysts joining this modern gold rush.
Our company has two of his requirements for evaluating a strong junior mining operation. There really is gold in the gold that we own outright, it is proven by past gold production and it is readily accessible without spending years getting permits, building a mining infrastructure of trying to figure out how to mine the yellow stuff.
Intelligent manpower is available to the Company with deep geological knowledge about practical methods of mining the rich and rare ore body known as the Sixteen to One mine in the famous Alleghany Mining District.
I disagree with him about exploration and would prefer to seek out actual gold producers. They are few and far between amongst the many gold juniors in existence.
So, with gold basing itself around $1,000 per ounce, why is this proven profitable gold mine living its current life in a maintenance mode? The last M…money. It is not at hand. A very imaginative and worthwhile limited partnership became available on November 1, 2009 for ten investments of $100,000 and ten investments of $50,000. It will not be printed on the internet. MMM is working to solve this last deficiency.
in reply to: Gold Enters Major Bull Market #3989The answer is a thought that as long as humanity grows and life gets longer it will grow. The relationship between the resources and quality of life is the true value of money. I think.
When humanity stops growing, then greater wealth will be left for the few.in reply to: Gold Enters Major Bull Market #3985GREAT NEWS
Gold is rocketing, last sale is $1085.
in reply to: Gold Enters Major Bull Market #3988Last on gold is $1084.70.
Total U.S. unfunded obligations in trillions:
2009 $104.0
2008 99.2
2007 87.9
2006 83.9
2005 79.2
2004 72.0
Any thoughts on how this one ends?
in reply to: Gold Enters Major Bull Market #3987Dave
Zimbabwe went to US dollars as their country’s currency due to the failure of their money to function as a result of the effects of hyperinflation.
Maybe, laws or not, our currency dealings may be in Chinese Yen someday when we find ourselves in the throws of our own coming hyperinflation as a result of unbridled massive quantitative easing(letting the printing presses run day and night). Contrary to the spoken word in Washington, IT’S COMING.
I’m preparing myself for transactions in the future by acquiring Franklin silver half dollars, Washington silver quarters and Roosevelt silver dimes.
in reply to: Gold Enters Major Bull Market #3986Hi every body,
I some time come up with some goofy ideas. I thought I would run this buy this forum,
Is there a law that All our natural resources mined in America, to include Hydrocarbons, and agriculture, be paid for in US dollars?in reply to: Gold Enters Major Bull Market #3984Last on gold is $1063.80.
BREAKING NEWS
IMF sells 200 tons of gold to India. It appears all of the over 400 tons of gold that is to be sold by the IMF will directly go into the coffers of central banks, bypassing the market as predicted by Mr. James Sinclair months ago.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAkoEr3mFLv0
in reply to: Miscellaneous #3983Sorry, the below article was not yet finished.
Repeating and correcting:
http://www.centurymining.com/news/pdf/10142009-1.pdf
In case you aren’t familiar with “flow through share financing” the following pretty much sums it up according to the Toronto Stock Exchange. Can you imagine this, California offering tax incentives to kick start this industry and keeping it alive and running well?
Ontario Focused Flow-Through Share Tax Credit
Download PDF Information Bulletin 6315, November 2006This publication is provided as a guide only. It is not intended as a substitute for the Income Tax Act (Ontario) and Regulations.
Purpose
The Ontario Focused Flow-Through Share (OFFTS) Tax Credit is intended to stimulate mineral exploration in Ontario and to improve access to capital for small mining exploration companies.Definition of flow through shares
Flow-through shares are an expense for shares transaction governed by an agreement between the issuing company and the investor, as defined in subsection 66(15) of the federal Income Tax Act (ITA).The OFFTS tax credit
The Ontario Focused Flow-Through Share Tax Credit:provides eligible individual shareholders with a refundable tax credit of five per cent of eligible Ontario expenses
harmonizes with the federal government’s existing 100 per cent bonus deduction, and its 15 per cent investment tax credit created in October, 2000
applies rules and structure similar to the federal flow-through share (FTS) Canadian Exploration Expenses (CEE) program (some changes to federal definitions have been made).
Individuals who qualify for the federal tax credit, and who purchased shares from a mining exploration company after October 17, 2000, will be able to claim the Ontario tax credit.Corporations, and corporate partners, cannot claim the OFFTS tax credit.
in reply to: Miscellaneous #3982I’ve been reading in the past few months that there are quite a few exploration company financings taking place concerning Canadian companies. Most of these financings have been done through private placements, mainly, with the minority being public placements involving brokerage companies acting as the underwriters.
Without any discussion concerning why private versus public placements, both are encouraged by the local provincial governments to stimulate their economies in keeping them financially healthy. Prospective investors get a tax credit for investing in exploration companies assuming they file their annual earning with that local Province. i.e. Quebec and Ontario etc.
The following is a recent news release from a company that collected over $C5 million for their exploration and start-up expenses concering the extraction of gold.
in reply to: Gold Enters Major Bull Market #3981Last on gold is $1064.70
Gold is firming tonight on news from the jsmineset.com site concerning the central bank of India wanting 200 tons of the proposed sale of IMF gold.
Linked below is an excellent article from Harper’s that clearly infers, Wall Street is still in charge and our representatives continue to be influenced by them.
in reply to: Gold Enters Major Bull Market #3980Dave, I’m sorry, sincerely….thanks for clarity It is my mistake! Sorry for the slight.
in reply to: Gold Enters Major Bull Market #3974Last on gold is $1044.70.
In times of change, learners inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists.
–Eric Hoffer – Longshoreman, Philosopherin reply to: Gold Enters Major Bull Market #3973I had originally wanted to forecast gold’s price probabilities this morning but thought I’d put my two-cents in regarding some preceding thoughts.
Currently, managing our economy is in unchartered waters, never has it been more complex. Obama, Little Timmy and the Bearded Wonder have made forecasts after forecasts and their track records are not that good. The worse recent government forecaster was ex-Treasury head Lord Paulson. This guy made a fool of himself on a regular basis. Plus, all these guys were in favor of degrading our currency’s purchasing value with barrels full of fiat money for companies that should have failed.
Our government officials, in my view, don’t have a clue on what’s happening and furthermore, because of the complexity concerning many problem areas aren’t experienced enought to remedy the financial mess that is only growing. These guys only care about their job security and appeasing the lobbyists.
All the recent spiralling DEBT that is being created is to save the system from collaping. Although debt is a great engine for growth, it has been misused and someone has to pay the consequences.
The good old buddies must take some pain but our representatives are being led around by them preventing this from happening with a ring in their noses. To understand what’s really going on one must source the independent opinions of some people like Gerald Celente, Jim Rogers, Max Kaiser and Jim Sinclair. Just go to YouTube while searching these men to get a better understandable grasp. In addition, you might search Janet Tavakoli on YouTube under Q & A to get more enlightened. Her interview is long but informing.
I checked out gold’s monthly chart and here’s what I consider to be the probabilities for price action going into the end of 2010:
Gold still has an outside chance of selling lower into the $935 to $985 area for the next few months or so. On the upside, chances exist for a move to $1200 in December. By year-end of 2010 gold can easily get to $1325. That’s just an intermediate look but many respected gold related analysts say much higher prices could come quicker based on possible geopolitical disturbances or a break-down of the US dollar.
in reply to: Gold Enters Major Bull Market #3979I was not aware that I caused any disrespect for those who fought in World War II. I had both a brother and a brother in law who did. If my words were miss understood than I recommend you look up the “Great Depression” in Wikipedia.
in reply to: Gold Enters Major Bull Market #3972That all depends on who you give the borrowed money too.It will not help the California economy if most of the money that came into our State went to social services and the Sierra Club.Two billion was sent to Brazil for oil,how much went to us for oil and gas exploration?they could have put one trillion dollars on the White House lawn and lit it on fire and it would have served us better then the people he gave it too.
in reply to: Gold Enters Major Bull Market #3978Dave, with honest due respect….your WWII anology and subsequent citation of the real reason for recovery back then holds no water in today’s market. (It’s also an affront to those who fought that war. Shame on you.)
Analyze the motive of the American spirit then vs, now.
You will find a vast difference in invested spirit.By the way, Dave, you dodged the math I put forth regarding the fake GDP growth model, by suggesting “wheel grease” makes the engine work.
Wrong. When graft and corruptions are the basis of greese, no-one but the holders of corrupt fruit can prosper. To wit: no one (trust your own soul0…would you invest in the fraud?
in reply to: Gold Enters Major Bull Market #3977I recommend that a review of Wikipedia’s assessment about the history of the great depression. Our nation did not recover from this depression until the advent of World War II. The economic growth was supported by debt to pay for the war machine to defend the free world at the time. That was the economic stimulus at the time. The whole world was caught up in the great depression. The same thing is much the same today. With out putting stimulus funds into our nation, as well as other nations, the deflation and the lack of investment to drive growth will once again raise the prospect for bankrupting the world. The misery index will be fruit for discontent of the people, to take up arms and conquer those who have the wealth.
in reply to: Gold Enters Major Bull Market #3976The following excerpt is from a commentary by Roger Wiegard on kitco.com entitled, “Zombie Government Reality Check.”
Artificial Growth Courtesy Of Government Taxes Take a minute and think about what propels these so-called recovery markets.
The phony, positive GDP growth rate announced on October 29 is a bald-faced lie. John Williams at Shadowstats.com, our trusted and very accurate source of numbers, says the annual GDP rate is sinking at -5.7% and we would agree.
We’ve previously reported that when a nation’s GDP-to-debt ratio surpasses 6% it can never recover; that is historical fact. The USA’s today is projected at 13% and getting worse. Since statistical distortion is the name of the game even the government hasn’t a clue whether its 6, 13 or 30. One thing we know for sure; it’s much worse than imagined.
Consumers’ primary assets are cars and houses. Cash for Clunkers was a clunker that cost taxpayers $28,000 per car as one analyst reported. Further, it took paid-for cars and trucks off the road and sunk these new vehicle owners into payments they cannot afford. Look for those new vehicles to be repossessed in few months.
Consumers’ residential loan failures are legendary. New homes are being produced at a rate of 400,000+ per year with a normal year being 1,700,000. It that a recovery? That’s a disaster! Other used home sales seeming to be perking-up are those of new buyers getting free down payments from the government. How long are those loans any good?
John Williams tells us durable goods, the hard, expensive stuff like furniture and appliances fell to a 1997 order level. He also told us help-wanted advertising for jobs sits at a 58 year low. Is that a growing economy?
These broken consumers need jobs and credit and have neither. As governments and central banks steal more taxes and print more currencies in this low interest environment, hyper-inflation seems inevitable to us.
in reply to: Gold Enters Major Bull Market #3975I do enjoy the discussion on this forum. I do agree that the stimulus money has not been the economic engine for California, and to the demise of our liberty is due to the majority of our state legislature have become defacto members of the sierra club or the green party.
There is some good news for the future, The House of Representatives is providing a big increase for funding the Small Business Administration, with Loan guarantee up to 90% of the principle, unless you are a vet, then it will be a 100%. I hope your mine can take advantage of this money.in reply to: Gold Enters Major Bull Market #3971I have to disagree with Rick, debt is a form of capitalization that get the wheels of commerce running again. The debt will be paid back from the profits of growth. It will be this economic growth that will deliver us from this lack of faith in our depressed economy.
in reply to: Gold Enters Major Bull Market #3970Combine today’s vs. yesterday’s stock market movement…the result is a big time negative.
Why am I bringing this up?
Reason: yesterday’s jubilant gain was supposedly in response the “great news” of quarterly GDP growth of 3.5%….does it really take a day for people to realize why?
Any GDP gain derived from borrowing money is a farce, so let’s hope your investment adviser didn’t suggest you get in on the news.
Simply stated, when someone borrows money and then gloats about having more money, does it really take a whole day for people to say, “what growth” ???
There is no GDP growth. Don’t be fooled by words.
If anyone ever suggests that Keynesian philosophy works, try this new math:
A government sector job, by definition, must pay more than 100% in taxes generate growth.
in reply to: Gold Enters Major Bull Market #3969Last on gold is $1047.20.
Is this the general attitude of all of our elected officials, for example, during a House session in Connecticut?
http://waynerobinson.tumblr.com/post/227258091/what-really-goes-on-when-the-house-convenes
in reply to: Gold Enters Major Bull Market #3968Gold is higher tonight with the last of $1046.20.
Are we really in an economic recovery?
– Durables Goods Orders at 1997 Level
– Help-Wanted Adverting at New 58-Year Low
in reply to: Miscellaneous #3967I think that’s a step in the right direction. Count me in.
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