Oldtent Archives 2007 - 2008

gore says before you can ’stuff it’… it first must be taxed! or its an ‘illegal stuffing’ with penilty up to 10 years in a siberia gulag waiting for the globe to warm. wj

Well, according to JS, Barrick will wind up as the premier mining company, having absorbed all the others as the agent of the cabal, with uncallable loans from the collaborative banks, who in turn are supported by the PTB. It’s all collusion. In the end the PTB will have/or control all of the gold &/or miners.  This also presumes the PTB are the bankers who are pushing the NWO. I don’t know if this is truly the case, but from my observations, it is clear there is collusion going on and I do not understand why our laws are not enforced. May I presume the enforcers are part of the collusion?

You should never ask a geologist an opinion of someone else’s exploration prospect. <g> I made a study once of the best prospects (of other people) that I had ever seen out of many hundreds I had reviewed for possible investments over five years. The best five were all dry holes!

Years later I reviewed all the prospects I had personally found or originated and elected to put my own money in. The best five were all productive. Now what does that tell me? A lot! You can never know as much about someone else’s prospect or deal as you know about you own prospect or deal that one has given birth to and nurturied into life. Oh, I have make many costly mistakes along the way and missed some fine discoveries that should have been mine. But I don’t feel bad about any of them.

Now what does this have to do with your question about EDNE? A lot. It may be a super investment but not for my money or yours at this time. The chart is telling you there is nothing positive yet (including fundamentals). Most all rank wildcats are dry holes and are only for big investors who are using tax money from other sources and really will be happy with a total loss and tax writeoff. Please put your money into something that will make money unless you are very wealthy and looking for a 100 to one shot of losing. 

Let me be even more brutely frank, for your sake. If you gave me a $million and said to invest it for you in ten other oil companie’s  rank wildcat wells, even with my experience, they would all very likely be dry holes. And I admit to being very good at finding my share of producers.

One more experience. I once found a beautiful gas prospect. The average oilman and investor would have invested after a ten minute presentation. I elected not to show the deal or drill it because it had a bad flaw that I knew of and few lookers would catch. The structural closure against a fault had sands faulted against sands so there was no seal to the trap and any oil or gas would have long ago leaked out. Then a stranger company came along and offered to buy my leases over this prospect. I sold the leases for lots of cash and kept a small free override interest. Yes I was wrong and the well produced by some miracle; the fault gouge zone has enough shale mixed in to form a seal. Nothing bad about my being wrong, as the odds were heavy in my favor and any reward to risk was not good enough to let my friends and investors into an apparent flawed deal. Such is life in the oil patch and not so unlike the gold fields. Deadeye (that old Dutch uncle) looking out for you

19:44 longtimer. No, it doesn’t surprise me that no majors, as far as I know, have ongoing exploration in the great basin/Nevada. They want proven hydrocarbons to purchase I believe.  Exxon did have an exploration/drilling program ongoing just north of the “Noah” location. They had “encouraging” findings but dropped the project completely when the Exxon Valdeze incident erupted in Alaska.

signing off for tonight,  alfalfa

sell auy

buy ecu

sell ten silver eagles

buy one french hen , and a couple lords a dancing

go long via calls on tre

try to buy back any gold bullion sold in 2009.. none available but the buck has gone up to 55.. so why fret..

and remember price goosey lol

Check my entry at 21:34…there is a method behind the madness…guaranteed.

Forecast for 2008

      For the tiny fraction of people who actually pay attention to real events — those, for instance, who know the difference between Narnia and Kandahar — the final hours of 2007 leading into the fog-shrouded abyss of 2008 must induce great racking shudders of nausea. Has there ever been a society so exquisitely rigged for implosion? The whole listing, creaking, reeking edifice stands like one of those obsolete Las Vegas pleasure palaces awaiting a mere pulse of electrons to ignite a thousand explosive charges perfectly placed to blow away the structural supports.

      The inertia holding everything together that I described in last year’s forecast finally melted away at mid-summer and events began spooling out of control. Specifically, the massive tonnage of debt-backed securities circulating through the financial sector stood revealed for the mostly worthless bales of paper they truly are, and the investment community was left suspended in mid-air, grinning unconvincingly, like Wile E. Coyote thirteen yards beyond the edge of the mesa, with a sputtering grenade in each hand and an anvil tied to his ankles.

http://jameshowardkunstler.typepad.com/

Great move in CCI;  all that liquidity that JS has discussed.

I see that Redneckedokie1 has mentioned some interesting things on that.

Tomorrow’s another day;  Cheers, TQ

Broke out to the upside (after Languishing or slowly rising for over 5 years.)…..Just after they put it in the HUI…
………I for one Loudly Protested the bastardization of the Unhedged Gold Bugs Index,,,with Barrick…the King of Hedgers…..
……They still have 9.5 Million Ounces Short …
…….and today alone LOST 200 Million Dollars on this Position….
…….Ironically ABX has contributed Mightily to HUIs Rise since August 16th…Its the Heaviest weighted stock in all the Major Gold Indices…
…….It underperformed the HUI for years before it was Inserted ..and I thought it was done to drag HUI down..but the opposite has happened….whats up with that…?
….Why Buy a Hedger….?……
….The Cretins have something in mind here with ABX…wonder what it is..?

Better have a few shots of that exotic vodka to keep your toes warm tonight. Lordy, food prices are going up fast enough w/o any help from a freeze in Florida. It’s amazing to me how many close friends and relatives don’t have the least clue about what’s going on. Everytime I try to tell them, my wife tells me to shutup and don’t be argumentative. So I’ll just sit here near Las Vegas and sip another “cuba libre sin limon” and watch my gold go up like a balloon (I hope), and silver too. Anyway, keep warm. The temp here will reach 32 tonight, but I have a furnace. Don’t be jealous, hee, hee!

Roger….. Come to think of it Lake Worth is where that couple found the purple pearl in the oyster.

they are calling for snow flurries. Daaaayum - didn’t anyone tell Gore this is Florida??? They are comparing this to the record freezes of the 1980’s. If this is global warming, they can darn well have it…..

generally i go thru 3 maybe 4 sets a year of chicken entrails for my ta and perhaps 5 or more orders of bags of turkish coffee so i can read my cups freshly in the short term. but i’m afraid since i’m no ’shaman’ i just cannot see into 2009 until perhaps next december at the earliest and even then its questionable. but my fa and ta assisted with the above ‘tools’ does say we shall go to 1500 if not 2500 or maybe 3500 sometime……..maybe?
wj