Oldtent Archives 2007 - 2008

Nice rant..  Yuppers..No common sense and an ostrich mentality to boot..Read the other day that in England they are still floating the idea to  have ALL (not just perps) ALL British citizen’s DNA put in a super database. Sometimes I think England is the NWO’s testing ground to gauge public outrage or acceptance..

In the city of London they got something like 10,000 cameras. Not only that, but they are talking cameras and will give you grief if you litter or  do some other minor infraction..Can you fricking believe that? “Authorities” in mega control rooms monitoring your every move and barking orders at you if you step out of line.

Sometimes I think I just wanna hide in an igloo in Nunuvik (or on a beach in Belize) 

Hommel acts like HE has uncovered something and is very proud of himself and that he is the only one who knows it.  When Barrick started the BS last year of saying they had closed out all their hedge book, several of us here under the Tent said that was pure 100% BS.  The little trick Barrick used was to say that they closed all their corporate hedges.  A 2 year old knew that they did not close ALL their hedges and I don’t think there is any self-respecting Gold Bug who thought they had.  The below posting from August was the first time I found and posted something exposing the play on words.

FGC: someone finally wrote about the remaining ABX hedges

-> Posted by floridagold @ 22:53 pm on August 6, 2007 :: Edit post

Barrick Gold should dehedge completely: Citigroup

Now that Barrick Gold Inc. (ABX/NYSE, ABX/TSX) has fully eliminated its “corporate” hedge book, rendering ongoing operations 100% exposed to spot gold prices, its time Canada’s largest gold miner rid itself of the remaining 9.5 million ounces left on its “project” hedge book, according to Citigroup analyst John Hill.

“We regard de-hedging as the single most powerful lever that Barrick can pull, particularly since cash is piling up on a ‘lazy’ balance sheet while project timetables continue to stretch out. Mr. Hill said in a research note.

He told clients that Barrick’s project hedge book, which totals 9.5 million ounces at a forward price of US$306 per ounce, equates to a mark-to-market loss of approximately US$3.5-billion based on the current spot price for gold that was hovering around US$664 an ounce on Friday.

Mr. Hill believes de-hedging would erase the discount valuation in the stock and add $3 to $5 per share to Barrick’s net asset value based on expectations that gold will keep climbing.

In fact it could even drive the gold price higher by $30 to $40 per ounce, the analyst added.

Barrick, however, appears reluctant to unwind its “project” hedge, choosing instead to view it as an important financing tool for projects such as Pascua-Lama in Chile & Argentina, Mr. Hill concluded, adding the hierarchy of capital allocation seems to be projects, dividends, buybacks then dehedging.

.or is that a rare Gold Short?

Sorry for the pic glich, it didn’t give the option for a thumbnail.

The mining stocks are another good example of this. I do not own any stocks, I am one of those physical only types. Not that I have anything against stocks, I just never felt smart or educated enough to try to pick stocks that I felt comfortable with. One thing I know for sure, what has happened to the juniors and explorers in the last couple of years is nothing short of criminal. There is no way under God’s green earth that these stocks should languish without naked short selling. It’s criminol, it’s wrong and the bastages should be prosicuted!! But will they be? doubtful.

Did you see the artical posted by MadMike a few posts back? How in the hell can a crooked company like (the one mentined) have their stock be so successful when good honest hard working juniors can’t catch a bid? One day—–One day Alice…….Damn, I hope that all of you that have suffered through all this crap are justly rewarded.

I am convinced that the PTB have been slaming these stocks and shaking out the weak hands so they can pick them up on the cheep. I hope all can hang on! Someday when they are ready they will turn them loose and they will roar. Those of you that have endured will be rewarded, that is my hope.

Best
Dusty

I thought it was funny, too. Good ‘ole moosey had a few too many. I don’t have a lot of wildlife photos, just a few I pick up here and there.

BUT, I did snap this one personally, one you may have seen. He was just a little too close for comfort.

Best, MadMike

grizzly1.jpg

Frank was excited about his new rifle
and decided to try bear hunting.  He
travelled up to Alaska, spotted a
small brown bear and shot it.
Soon after there was a tap on his shoulder,
and he turned around to see a
big black bear.  The black bear said,
“That was a very bad mistake. That was
my cousin. I’m going to give you two
choices. Either I maul you to death or
we have sex.”
 
After
considering briefly, Frank decided to accept the latter alternative.
So the
black bear had his way with Frank.  Even though he felt sore for
two
weeks, Frank soon recovered and vowed revenge. 

Again, Frank thought it was better
to cooperate with the grizzly bear than
be mauled to death. So the grizzly
had his way with Frank.
Although he survived, it took several months before
Frank fully recovered.
Now Frank was completely outraged, so he headed back
to Alaska
and managed to track down the grizzly bear and shot it.  He
felt sweet
revenge, but then, moments later, there was a tap on is shoulder.

He turned around to find a giant polar bear standing there.  The
polar bear
looked at him and said, “Admit it Frank, you don’t come here for
the
hunting, do you?”

Right Foot and Brain Interaction…

And one more thing, your wife who already knew you were a ‘Gold Bug’ …….well, she was watching, and now knows for sure you’re an ‘over the hill’ Goofy Gold Tent Bug.

swiming in unfamiliar waters can be hazardous to your back stroke!wj

Thanks for your comments…always thoughtful and constructive.

I fail to get a handle on the status of currency as we enter the increasingly powerful financial storm…seems the “boyz” will retain control in which manner they determine…the system in place seems  impervious to destruction anytime soon.  Whatever means of exchange evolves…the metals are the best bet to at least maintain buying power and good quality resource stocks at some point will likely reward the patient investor in multiples of the physical (some already have)…but then…anything is possible in an “Upside Down” world…right Dusty?

……That is Incredible….that has to be the new Mooscot of the tent….

…..you are killimg me here…….where do you get all this wildlife stuff…is that a personal photo.did you snap it?

…….I gotta get away from the Picture before i suffocate……you are BAD….!

…PS….a worthy post for Humour Paradise……

…P S…a Golden Moose Market is what we are in..

….you heard of Bear markets..you heard of Bull markets….well..Moosey has a message for the Bull…and it aint pretty….haaaahaaaa

Or, you could look like this guy.

<g> Best, MadMike

not to worry my friend …i’m quick on the hit and run routine…fast gold train bursts! wj