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- in reply to: Stock exchange listing #5383
i will sell 200 shares at discount broker for 0.49 a share to get the broker price to 0.49
in reply to: Stock exchange listing #5382Thank you for the quick reply, I’m not a seller at .50 cents or a $1.00 as the price of gold climbs this company will only become more valuable.
It’s only a matter of time, may the next blast be golden.in reply to: Stock exchange listing #5381As considered an “insider” I am not a seller for a dollar so the reference to .50 cents makes no sense to me. Now, a penny? If a penny represents anything of value to our shareholders and company, I cannot find it. My guess is the sale has something to do with a transfer in an estate. The only way the Company knows details about transaction is when the transfer agent reports activity…who supplied the stock certificate and what name is going on the new stock certificate.
My arrogance may be showing should I suggest it is some attempt by people who have no equity interest in our corporation but realize that they should. After all, where can one find a 100 year old American gold operator that operates mines it outright owns, has operating permits and an experienced crew and infrastructure in place? When these reports of penny sales turn up, a comment heard more than once is: it may be lawyers or accountants working to clean up an estate. I feel sadness for the dead person if this is true. He or she wanted to bequeath value to heirs and held the opinion that owning a small piece of a gold mine in California was a good idea.
Another though is that if the sale/purchase was through a stock broker, that company and its broker are incompetent, unprofessional or white collar criminals and the seller should call his or her lawyer right now to seek damages for fraud.
in reply to: Miscellaneous #5378Reading the article Bluejay cited below (08/08/2012) was refreshing. Development was included as an important point for future speculators to recognize. Seed money or cash outlay prior to gold production was another ingredient for consideration. I did not find the list of deposit but am sure that the Sixteen to One mine was not included on the list of deposits of at least one million ounces. It should be but the reasoning for its inclusion is beyond the methods used today to guess gold content in the ground. Our deposit has yielded over one million ounces and every geologist who has studied the mine expects over a million ounces of gold remains. So do I. Michelle Smith closes her article: “Quality gold deposits continue to be a rare occurrence.” Yes, it certainly is rare to get hold of one!
in reply to: Miscellaneous #5379The following excerpt is from a brilliant informative article written by Martin Armstrong:
“On my way to work(in New Jersey), the police shut down a road, established a check point, and pulled every car over asking “papers please” and anyone who could not produce what they demands(demanded) was ticketed – so much for probable cause. Completely unconstitutional, but unless you have the money and the desire to fight, you have no rights and if you win, you do not get even your legal costs back assuming you could find a local lawyer willing to defend you.”
George Gilmore we miss you and you were always a great patriot.
http://www.martinarmstrong.org/files/Profound%20Systemic%20Global%20Meltdown/index.htm
in reply to: Miscellaneous #5377Input to a Canadian message board.
The banksters are out of control
posted on Aug 09, 12 03:21PM Use the IP Check tool [?]
Will the end game be for the bankers to loot what is left of the country’s gold? What the uninformed aren’t aware of is that the major banks are bankrupt. They can say anything they want including letting the banks tell us how much they are worth with their deceitful accountants sprucing up the balance sheets but the fact remains, without public induced financial support bank certificates would be hanging on the walls of antique shops right next to Confederate bills.
What a freak Alan Greenspan was by saying we should allow the banks to, basically, govern themselves.
What a freak Clinton was for signing to get rid of Glass-Steagall.
We need to fight back by pulling out all our certificates and cash from their greedy gambling little fingers. What a racket, if they lose our money FDIC repays them, if they have it, and the banksters, well, they get to keep all the profits. In case some folks aren’t aware of it, big banks are now practicing hedge funds. The worst part of it they have the resources to manipulate most any market in their favor whether the public suffers or not and the feds do nothing because they rely on the banks to do their financing. What a sick game.
Anyway, that’s the way it is. If you give them your money or allow them to hold your certificates you enable them thus supporting their money thirsty appetite that could ruin everyone in time while they dictate to Washington how to squeeze you more and more so they can coast free of charge.
in reply to: Gold Enters Major Bull Market #5376Analysts at Goldman Sachs, whose views on commodities are regarded as highly influential, today reiterated their 12-month gold price target of $1,860 an ounce: ‘As we expect gold prices will continue to be driven in large measure by the evolution of U.S. real interest rates and with our U.S. economic outlook pointing for continued low levels of U.S. real rates in 2012, we continue to recommend long trading positions.’
Also, broker Credit Suisse raised its 2012 gold price forecast to $1,850 an ounce, saying the metal, as a clear beneficiary of the uncertainty and dislocations in financial markets, has further upside with the crises set to continue.
in reply to: Miscellaneous #5375Hundreds Of Gold Deposits But A Good One Is Rare
in reply to: Miscellaneous #5373Alarmist or realist? You decide:
[audio src="http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/8/3_Dr._Stephen_Leeb_files/Stephen%20Leeb%208%3A3%3A2012.mp3" /]
in reply to: Miscellaneous #5372You want to add to your education? Here it is:
http://www.martinarmstrong.org/files/Banks%20Manipulating%20Gold%20People%20vs%20Banks/index.htm
in reply to: Miscellaneous #5374If you believe the media is responsible in ojective reporting think again:
The Real Poll Numbers
By Dick Morris on August 6, 2012
The media is trying to create a sense of momentum and of inevitability about the Obama candidacy. One benighted Newsweek reporter even speculated about a possible Democratic landslide.
On Friday, I saw the real numbers. These state-by-state polls, taken by an organization I trust (after forty years of polling) show the real story. The tally is based on more than 600 likely voter interviews in each swing state within the past eight days.
The trend line is distinctly pro-Romney. Of the thirteen states studied, he improved or Obama slipped in nine states while the reverse happened in only four. To read the media, one would think that Romney had a terrible month. In fact, the exact reverse is true.
Romney is currently leading in every state McCain carried plus: Indiana, New Hampshire, Wisconsin, Nevada, North Carolina, and Colorado. If he carries these states, he’ll have 228 electoral votes of the 270 he needs to win.
To win the election, Romney would then have to carry Florida where he trails by two points, and either Virginia (behind by two) or Ohio where he’s down by only one.
If he carries all three of these states and also wins all the others where Obama is now at 50% or less – Iowa, New Mexico, Michigan, Minnesota, Pennsylvania, and New Jersey — he will get 351 electoral votes, a landslide about equal to Obama’s 363 vote tally in 2008.
The strong probability is that Romney does, in fact, carry Florida, Ohio, and Virginia and a share of the other states where Obama is below 50% of the vote.
So don’t believe the garbage being put out by the media. The attempt to portray Romney as not catching on and as dropping in the polls is ludicrous. It is, at best, the product of incompetent polling and, at worst, the result of deliberate media bias. But Romney is winning and expanding his lead each week. That’s the real story.
—————————————————————–The whole affair is a big freak show designed to suppress independent creative thought. In this environment gold is your dependable ally while the media is becoming less amd less respectable probably because of the wanta-be mind controlling NY bank puppeteers.
in reply to: How to Approach Thin Veins & Cost #5371In regards to cw3343 and Bluejay (see Clips from Alleghany 07/31/2012): the most likely way to permit a project in California is to present truthful, accountable facts or honest opinions about your mining project to all parties, including the public. Rarely have I seen this approach over my thirty-seven years in this industry. Distortions begin with the owners or promoters who must find sources of working capital to fund the operation. Why? Real, potential or want-to-be investors are pretty ignorant about mining, although they may be very skilled about money or business, speculation and investment. The permitting pattern has been to offer a huge carrot and shorten the time line for production when the money source will see a payback. This is how it begins and once the story is told, it is difficult to retell the story to the regulators as one seeks approval. Idaho Maryland mine in Grass Valley is a classic case.
Understating the amount of time to bring a property into production has too many examples to mention. This optimism is sometimes really believed by the speaker. Most times and it is unfortunate, the deception is willful. It casts a sour reflection on the people who profess themselves as mining competent as well as our industry. Projections are deceitful or purposely a lie. Miners talk of production as the taking of ore. Ore may or may not be profitable but it must have value.
Since 1975 in America when its citizens were once again allowed to own gold, those interested in gold mining have had ample opportunity to embrace truth and scorn error in the presentation of professed opportunities. Mining knowledge acts in complex ways; but it is nevertheless a tragic fact that truth has not triumphed over distortion. Either not enough people recognized the truth, those who did recognize it did not exerted themselves sufficiently in its behalf or many people saw the truth but were indifferent to it. These people comprise professionals in the mining industry, the investment/banking industry financial media types and more.
In the absence of demonstrable truth, the best we can do is to exercise the greatest diligence, humility, insight, intelligence and industry in trying to arrive at the nearest values to truth about the specifics of the mine status and projections. If, after having done this, we have an inescapable duty to impress others with the particularities that comprise our truths about mining for gold. These beliefs extend to anyone entering a mine’s business. “Truth, like gold, lies at the bottom.”
I worry little about permitting. Permitting has not been a problem for Original Sixteen to One Mine. I object to unlawful, unnecessary (ethically or morally) corrupt behaviors of anyone whose business is or is not related to the Sixteen to One mine. (California’s water regulatory personnel qualify, as have some federal people over the years.) My behavior towards regulations/permitting is grounded in the belief that most individuals are righteous and well-intended and I take opposition as impersonal.
Best wishes to Sutter Gold Mining Inc. Its money is coming from South Africa to Australia to California not by accident. It will not be producing gold by the fourth quarter unless it is actually an insignificant amount. Its debt is worth studying as well as its capitalization.
“Let truth and error do battle in the arena of ideas. Truth will vanquish. Let the student and the citizen witness the struggle; let the struggle take place in their minds, and they will ally themselves with truth.”
in reply to: Miscellaneous #5370I just read a brief synopsis, within an announcement of an upcoming San Diego conference of Martin Armstrong’s, that a world financial meltdown is much closer than is being reported.
If you physically hold gold and silver you will be coming out of it ahead of your neighbor. In Spain, for example, bank depositors are running for the hills with whatever they can get.
Wealthy people are moving funds out of their respective countries so fast that governments are putting the brakes on what they can leave with. In the US you must now report cash on your person in the excess of $3000, it use to be $10,000, when crossing the border.
Governments all have the same problem: too much debt and too little cash.
Squeeze The People, it is here.
http://www.martinarmstrong.org/files/San%20Diego%20CA%202012%20Conference/index.htm
in reply to: Miscellaneous #5369Great quote of Martin Armstrong’s from the below linked article:
‘Global trade simply expanded largely due to the socialism in the USA that saw World War II usher in the payroll tax in America starting the rise in American labor costs.”
————————————————————–With the State and Federal governments rising taxes more and more they will be hiking further labor costs and killing our manufacturing base. Basically, this is the cost of subsidizing a growing government paper shuffling business, creating more regulations everyday.
Wealth is destroyed by the public sector while wealth is created by the farmers, loggers and miners to name a few in the bona fide work force supplying important needs to the world.
It’s quite interesting that the real authority in every country rests with the county sheriff. He or she holds the real power of righteousness in our lives. It’s not the State or Federal government that has the last word, believe it or not, it’s your county sheriff.
in reply to: Miscellaneous #5368From a gifted creative thinker, http://www.martinarmstrong.org/files/Rapidly%20Approaching%20Demise%20of%20Japan/index.htm
in reply to: Miscellaneous #5367Is this some kind of joke? The State is now making stock market projections? The problem is the stock analysts for CalPers may be involved and that ALWAYS recently seems to cost State taxpayers far more that the National average of other States. The amount of incompetence from this state is absolutely amazing.
From Reuters:
“The most populous U.S. state’s $91.3 billion budget, signed by Governor Jerry Brown in June, counted on $1.9 billion in income-tax revenue from company insiders such as Chief Executive Officer Mark Zuckerberg exercising options or sell shares, assuming an average price of $35. Facebook, which touched $45 May 18, has averaged $29.49 on the Nasdaq stock market.
“Facebook share prices have fallen far below levels assumed in the state’s revenue projections,” the nonpartisan Legislative Analyst’s Office said yesterday in a report. If “the lower share prices persist through November and December, hundreds of millions of dollars of income-tax revenue assumed in the state budget plan are at risk.”
——————————-Facebook low today was $19.82.
The State was looking for an average price of $35????
in reply to: Clips from Alleghany #5366Document, document, document….
Any time CA and Fed regulations are interpretted by “enforcement” with a different set of eyes and outcome based upon $$$ graft we need to be vigilant and throw it back into their regulatory faces.
Unequal application of the “law” is ABSOLUTELY being applied to the Original Sixteen to One Mine.
The criminals responsible will only be taken to task if a sitting State AG has the balls to do his job…but I digress.
Unequal application of the law is real. FOLLOW THE MONEY and there’s the answer to ID-ing corruption.
In the mean time….document, document, document….because all of the corruption, when it stays out of the legal snail-trail courts, isn’t in the record.
in reply to: Clips from Alleghany #5363Re the comment below, I have wondered how Molycorp was able to re-open a mine in CA due to all of the regs and nonsense. Probably they spread $ around where it matters, in back-room deals?
Would it be worth studying the methods and approach taken by Sutter Gold? It looks like they actually got permission from the Army Corpse of Engineers to fill in wetlands! That seems like an unbelievable thing in CA.
Not sure how far along they are, but I read this a while ago:
”
An Australian bank is willing to loan Sutter Gold Mining Inc. $20 million to dig into that potential. They expect to pay it all back in gold, of course.“It’s a great opportunity to return gold production to the Motherlode,” said Cochrane.
They’ve spent nearly 20 years researching, sampling, and getting permits to meet California’s tough environmental standards, and now Sutter Gold Mining Inc. finally got the funds to find out what these rocks are really worth.
“in reply to: Miscellaneous #5362“The key pattern that is always the final warning sign of the collapse of society becomes most-evident within two primary factors:”
1) The Rule of Law
2) The Rise in Taxation
Martin Atmstrong
in reply to: Gold Enters Major Bull Market #5365Gold $1614.70 DOWN $7.20
Silver $27.98 DOWN $0.20The current daily gold chart is linked below:
http://stockcharts.com/h-sc/ui?s=%24gold
Gold continues to be within a resting phase. During this period the reaction bottoms have been rising while the 1640 area appeats to be its present resistance level. This pattern has etched out a right ascending triangle. In all probabilities prices should break out through resistance and head higher.
In the meantime, expect continuing attempts by the paper miscreants to effect the market lower with more and more promises based on nothing more than the blind faith by ignorant people for them to deliver physical gold. Once this gig concerning paper versus physical gold is up, the prices that you have been following in past months will in the future be at the lower end of an historical chart that will be displaying its future prices at numbers that will amaze you.
In the futuue, your wealth will be commonly denominated in ounces of gold you physically control with the paper promises only being mentioned in history books as the financial devices that were created by bankers to suppress gold values for their own selfish ends.
in reply to: Clips from Alleghany #5364Sutter’s mining plans are to begin production in the 4th quarter of 2012. In addition, Sutter has acquired more nearby claims. The shares have a lid on them around 40 Cents Canadian. An Australian fund over past months have been buying the shares.
in reply to: Miscellaneous #5361The following is an excerpt from the summer edition of
The Trends Journal published today:“No! It was much more complex than that. There was
something else that allowed the great German people to
put their lives in the hands of a two-bit freak. A freak that Charlie Chaplin played more convincingly than the man
himself.I’m of talian descent. A long list of who’s who: Michelangelo,
DaVinci, Rossini, Caruso, Puccini, Galileo … what
a history, what a culture! I then asked myself “How could
the Italians allow themselves to be led to destruction by a
two-bit freak like Mussolini? A cartoon character if there
ever was one. What is it that allows people that have the
intellectual capacity to know better to be so obediently led
to slaughter?Then there is America. No shortage of great people
past and present. How could they let two-bit freaks lead
and destroy them? Clinton, Bush, Cheney, Obama, Romney?
To me it’s all a two-bit freak show. Look around the
world: Blair, Cameron, Rajoy, Netanyahu, Merkel, Monti,
Berlusconi, Sarkozy, Hollande … name your country, pick
your poison: president, prime minister, chancellor … all,
in my eyes, two-bit freaks.
And they’re dangerous. They start wars, kill millions,
destroy nations. They steal your money and give it to their
friends. And with little resistance, and sometimes none
at all, the people let them do it. In fact, not only do the
people let them do it, they argue among themselves why
their freak is better than the other freak. They will get
angry with you if you call their freak a freak. They will
actually fight and die to defend their freaks.MICE OR MEN?
I’ve been haunted by Hitler since I landed in Berlin. What
is it in the human spirit that allows this to happen? And
now it is happening again. Our leaders are leading us to
destruction. And, as in the past, the people are letting
them do it.“The 1st Great War of the 21st Century” has begun. It’s
happening before our eyes. But no one, neither the media
nor the politicians, is calling it what it is. Instead, they cover each major development or incident as a “one-off,” a singular event unconnected to the others.Eventually, when history is written, the general perception
will be that this war, as with World Wars I and II, also
began in Europe. Though a gross oversimplification (the
roots of war are widespread), because the European debt
crisis is now center stage in the news, this Trends Journal
is accordingly Euro-centered.
Wars don’t begin with assassinations of Archdukes,
sinking of Lusitanias or bombings of Pearl Harbors.
Those are the flashpoints; the march to war takes years.
For example, follow the time line: The Crash of ’29, The
Great Depression, currency wars, trade wars, all leading
to World War II.History is now ominously repeating itself. The Panic of
’08, The Great Recession/Depression, currency wars, trade
wars, leading to “The 1st Great War of the 21st Century.”
And, at the core of this war, no matter how it will be
historically engineered, it didn’t start because of repressive regimes, the thirst for democracy, religious strife or
territorial disputes – it all came down to “money, power
and greed.”— Gerald Celente
in reply to: Miscellaneous #5360This is how free passes are handed out for stealing from the public, connections:
July 27, 2012
breitbart.com/Jonathan Weil“Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling.”
Stealing a candy bar from 7-11 and you go to jail. Stealing $1.6 billion from client’s accounts and not a peep out of the local sheriff. I guess all this stealing will have to stop once they have taken the last from “The Giving Tree.”
in reply to: Miscellaneous #5356Worth the read:
By Martin Armstrong
“Why property taxes will soar, why the risk of civil unrest is rising exponentially and why we will see the rise of a third party.”http://www.martinarmstrong.org/files/Why%20Property%20Taxes%20Will%20Soar/index.htm
in reply to: Clips from Alleghany #5355Yikes, did Scoop hear about the head scratcher comment below and lack of speculative interest from some of you. So there are opinions out there as to why the Californian gold mines in the Sierra Nevada Mountains are silent. Others’ opinions are: (1) over regulations real and implied from California’s agencies; (2) too long to get permits to operate and too long to get gold production to attract investment; (3) meddling from self-centered and haughty vocal people (those with the soft knowing eyes who predict disasters from most things done by man); (4) nonprofit organization with lawyers in need of work; (5) laziness and fear; (6) and some downright blast that may be true but too nasty to repeat. Thanks for your thoughts. If you have ideas, let’s see them in print.
in reply to: Miscellaneous #5359The Fed us out of control
David (Stockman): It’s policy. If we don’t do something about the Fed, if we don’t drive the Bernankes and the Dudleys and the Yellens and the rest of these lunatic money-printers out of the Federal Reserve and get it under the control of people who have at least a modicum of sanity, we are just going to bury everybody deeper.
It’s unfortunate. The American people are as much a victim of the Fed’s massive errors as anything else. People were not prudent when they took on debt at 100% of the peak value of their property at some moment in 2004 and 2005. They were lured into it. But now we’re stuck with something that didn’t need to happen.
Alex(Daley from Casey Research): The Federal Reserve was founded in 1914, and it saw America through World War I, World War II. It saw America through Vietnam, saw America through the biggest boom in the economic history of the world. Yet now, today, you are calling for the abolishment of the Fed. Wasn’t the Fed here the entire time that America was a prosperous, growing, wealthy, technology-driven nation? What’s changed?
David: The greatest period of growth in American history was 1870-1914 – the Fed didn’t exist. Right after 1870, when we recovered from the Civil War we went back on the gold standard. It worked pretty well. World War I was a catastrophe for the financial system. The Fed financed it, but I don’t give them any credit for that, okay? We shouldn’t have been in that war. It was a stupid thing to get involved in. But once we got involved in it, the Fed printed money like crazy, it facilitated borrowing, set the groundwork for the boom of the 1920s and the collapse of the 1930s.
Even then though, we had great minds who coped with reality in a pragmatic way in the Fed. Even Marriner Eccles wasn’t all that bad. He stood up to Truman in 1951, when Truman wanted to force the Fed to continue to peg interest rates at 2% or 2.5% when inflation was 5%. Then we had William McChesney Martin: brilliant, pragmatic. He wasn’t some kind of gold-standard guy in a pure sense, but a pragmatic guy who understood that prosperity had to come out of private productivity, out of investment, out of risk-taking, and the Fed had to be very careful not to allow speculation to start or inflation to get ignited. In 1958, he invented the phrase, “The job of the Fed is to take the punchbowl away.” And we had a small recession. Six months after the recession was over he was actually raising the margin rate on the stock-market loans in order to quell speculation, and raising interest rates so that the economy didn’t start to inflate again.
Now that was the regime we had until, unfortunately, Lyndon Johnson came along with his “guns and butter,” took William McChesney Martin down to the ranch, and beat the hell out of him and forced him to capitulate. But here’s the point I would make: In 1960, at the peak of what I call the golden era – the twilight of fiscal and financial discipline – we had $30 billion on the balance sheet of the Fed. It had taken 45 years to build that up. Then, as they began to rapidly expand the balance sheet of the Fed during the inflation of the ’70s and the ’80s, even then it took us until September 2008 – the Lehman collapse – to get to $900 billion. Had the balance sheet only grown at 3%, which is what the capacity of the economy to grow, I think, really is, it would have been $300 billion, so they were overshooting.
Alex: We’re three times where we should be.
David: Where we should have been by the Lehman crisis event. In the next seven weeks, this crazy lunatic who’s running the Fed increased the balance sheet of the Fed by $900 billion, in seven weeks. In other words, they expanded the balance sheet of the Fed as rapidly in seven weeks as it had occurred during the first 93 years of its existence. And that’s not all, as they say on late night TV: in the next six weeks they added another $900 billion. So in thirteen weeks they tripled the balance sheet of the Fed.
`in reply to: Miscellaneous #5358A common silver 1964 dime today is worth $1.88. A cupro copper/nickel 1965 dime has about 1 cent of buying power left in it today. A $1,000 purchase of 90% silver pre-1965 dimes, quarters and halves will cost you $20,000 plus.
in reply to: Miscellaneous #5357Will gold be enough to save you?
in reply to: Clips from Alleghany #5354From an outsiders view the Sixteen crew has had a full plate of surface work recently. The main piece of equipment is a Cat 966 front end loader. It looked so funny until Friday. The bucket cutting edge was curled up like an umbrella. Messing with quartz and other hard rocks takes its toll. But Friday it showed up outside the locked gate to the mine property with a sleek shinny repaired bucket. For those miners working in the Sierra Nevada, it is a must to get all equipment in shape before winter. Two weeks ago Mike’s truck was seen on Highway 49 transporting the huge tire and rim off the loader to town. The unit must weigh 500 pounds and it is a chore to change a tire, especially in the snow. Keep it up, boys and your winter may pass without the problems of past years.
The Northern California historic car club drove up to Alleghany and was it a show. Their destination was the mine. This group drove their old cars down the dirt road to the mine. Scoop was invited and laughed to see the 1915 and 1922-28 Fords bounce up and down the road. The drivers said they could go where todays four wheel drive cars and trucks cannot. Ford should do a commercial at the mine site. It would be highly entertaining and viewers would wait to see real Fords doing real work.
It remains a head scratcher that so few are actually mining in California. Let me repeat! “It remains a head scratcher that so few are actually mining in California.” There is gold in them there mountains. Apparently there is no interest from the purveyors of one necessary ingredient of mining: speculative investment. Scoop says, “It don’t matter. The Sixteen to One continues to shine. Not as bright as it did at the end of the Twentieth Century. One day the whoop of joy and satisfaction will reach the outside world and those boys working underground will daylight sacks of quartz and gold.”
in reply to: Miscellaneous #5353From the Casey Dispatch:
Do you have $500,000 to spare?
That’s your household’s share of the US national debt, which is fast approaching $16 trillion (actually, that was your share as of January 2010… it’s even higher now).
The debt keeps growing because Congress refuses to make the tough choices necessary to get the country on sound fiscal footing. They fear that doing so would cost them their jobs.
They’d much rather create money from nothing and prolong the illusion that everything will be okay. But it won’t be okay, as sooner or later the charade will end in an economic collapse for the history books.
In the meantime, our elected officials will do everything possible to delay the inevitable. They will continue to raise taxes, debase paper money, and meddle in the marketplace.
This is happening all over the world, creating centrally planned economies that bear no resemblance to free markets.
in reply to: Gold Enters Major Bull Market #5351Gold $1617.00 UP $12.20
Silver $27.55 UP $ 0.21Jim Willie, again, spells out what’s happening today with commercial gold storage and the big banks and it’s not pretty.
in reply to: Gold Enters Major Bull Market #5350The desire of gold is not for gold. It is for the means of freedom and benefit.
–Ralph Waldo Emersonin reply to: Miscellaneous #5349Phil Gramm didn’t know what he was talking about in 1999 and, certainly, is full of horse-pucky now. Phil it would appear has been sucking off the banker’s tit for decades.
in reply to: Miscellaneous #5352Another increasing example of why gold coins and bullion is the liquid and safe place to be.
Still Think That Money Market Fund Is “Cash”?
by JOHN RUBINO on JULY 21, 2012When investors decide to close out their riskier positions and move into “cash”, they don’t actually go to the bank and get a stack of twenties. Most just sell their stocks and let their broker sweep the proceeds into a money market fund which, they assume, is the same thing as cash because it holds high-quality short-term commercial paper that almost never defaults.
That pleasant assumption breaks down as soon as you look at a typical money market fund’s holdings and see that it owns, among other disturbing things, a lot of European bank debt.
But at least you can get your money out with a mouse click, right?
Well, maybe not. Apparently the Fed, cognizant of the potential weakness of the money fund system, is considering withdrawal limits:
Fed Eyes Limiting Money-Market Fund Withdrawals
NEW YORK–The Federal Reserve Bank of New York said it supports limiting some types of money-market fund withdrawals in a bid to protect those funds from suffering the equivalent of a bank run.
in reply to: Miscellaneous #5348From Kitco Commentary:
When athletes receive a gold medal at the Summer Olympics, only 1.34 percent of it will contain actual gold. The rest is comprised of 93 percent silver and 6 percent copper, according to CNNMoney. In fact, solid gold medals have not been issued since the 1912 Olympic games in Sweden.
in reply to: Miscellaneous #5347There appears to be a change in the tide with bankers being arrested in Ireland and Libor arrests pending.
http://uk.reuters.com/article/2012/07/22/uk-banking-libor-criminal-idUKBRE86L0CE20120722
in reply to: Miscellaneous #5346I have very little concern for the GPS milage tax scheme being talked about. Any tax has to pass the vote by a 2/3ds majority of the public. With the sentiment of the people, believing we are all ready over taxed, this bill will end up on the scrape heap of wasted legislative time.
in reply to: Miscellaneous #5345The Boat of Irresponsibility Has Many Passengers
CIGA EricGovernments preach austerity, discipline, and imply irresponsibility as the cause of the growing debt problem. The headings suggest that regulation designed to save the public from themselves, a combination of more and better, is the answer to prevent the next crisis. Amid the flurry of election-year finger pointing, few seem to recognize that governments, the ultimate regulators, stand shoulder to shoulder with the public on the boat of fiscal/financial irresponsibility (chart). This is why the public has begun to ask ‘who’s going to regulate the regulators’ with increasing frequency.
The chart is available at jsmineset.com.
in reply to: Miscellaneous #5344Jim Sinclair’s Commentary
This is for real. Where do we find these geniuses we elect to office?
California Proposes Tax On Driving GPS devices would record mileage and charge drivers accordingly.
Will they be charging us next for our trips to the bathroom?
The full story is from a July 19th entry at jsmineset.
Forgot to mention last week Calpers is stating their return is down to 1% versus their projections of in the 7% neighborhood which means….California taxpayers will have to make up the difference to those receiving these Calif. pensions. The fact is the people making economic projections for the State are totally incompetent and we all have to pay for their failings. Who will bail us out?
Everyone will continue to pay dearly for living in the Golden State because the powers in charge in Sacramento have totally messed up and now they will be taxing us to death for their constant financial shortcomings.
The Jerry Brown proposed rail system from Los Angeles to San Francisco may be the last nail in the coffin for all of us. The increasing picking of your pockets will only get worse.
in reply to: Miscellaneous #5343“The last duty of a central banker is to tell the public the truth.”
–Federal Reserve Board Vice Chairman Alan Blinder (retired)
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