Oldtent Archives 2007 - 2008

i changed the listing to decending format in the poll to be sure the 250 stays at the bottom no matter the number of votes. hey you 250 people…fraaaaappppp! [gg] wj

‘no reason not to’ wj
oops edit: and thanks for your vote of confidence. cheers.

If I do make more than I lose in future/option/derivative/weird financial instruments/ trading in the next few years then I will let you know. But you already know the probability of that. In the meantime I keep working hard at the missile plant so you can keep getting your SS check

Treasury’s Plan Would Give Fed Wide New Power

By EDMUND L. ANDREWS
Published: March 29, 2008

WASHINGTON — The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.

The proposal is part of a sweeping blueprint to overhaul the nation’s hodgepodge of financial regulatory agencies, which many experts say failed to recognize rampant excesses in mortgage lending until after they set off what is now the worst financial calamity in decades…..

….from the NY Times website.

I am not part of any administration. The only posts I edit are my own after my age has taken over. I do greatly admire all the administrators tireless, tough, but not thankless job as I greatly appreciate this site and the hard work it takes to make and keep it. Much like keeping Freedom, the job is never finished.

There are alway a few posters who have to break even simple sane rules and have no sense or capacity to appolize or admit when they are wrong. Show me when or where I am wrong and I will readily admit it, learn from it and try to do better. In the mean time I call em as I see em.   Occassionally I do speak out as the unofficial “Dutch Uncle” when I see someone making obvious stupid mistakes that I made in younger years and therefore know about.  Your “Deadstick” Yes, my humor is rather limited. Deadeye 

I’m glad we’ve got the Pacific Ocean between us (G)

….I really appreciate all the appreciation…..

….and I appreciate working with all the other Admins and Editors….a diverse bunch for whom i have more appreciation as time goes by….

….but most of all I/ we apreciate the caliber of folks who congregate and participate here at paradise…..we really do try and undersand what kind of board the vast majority here want…and we relly do monitor the thoughts and opinions of all the members of this community in matters which involve the personna of this place…..

…guys like Ipso Facto…..In Search of the Lost Chord …..Ferret……and all the others here… Its good to hear your positive comments tonite….I havent seen them all yet..but I feel the same towards all of you

…..I really Love it here….and enjoy every minute reading and writing at this perpetual Goldbug News Machine….

…..Looks like this Poll has a healthy diversity of Opinion….should be interesting going forward

…..will the 250 guys please Identify themselves…..

……Shotgun’s Loaded….hehe

the blackboard for all to see, if they care to look.  The message I see is that the US dollar’s role as world reserve currency has limited time in front of it.  Although the Jim Willie article linked below is a bit old, written in 2005, at that time Iran and Indonesia were the two nations most involved in working out the details of a gold-Backed Dinar for international settlements.  Jim Sinclaur doesnt talk about a gold-backed Dinar as much now as he did when he was posting his ideas on the financialsense website.  But a review of articles from a web search on the topic of gold-backed currencies suggests to me that things are advancing to prepare for the day when US dollars are not acceptable for international settlements, the topic of your 19:40 posting, Maya.

When I say that “things are advancing” I am referring to initiatives such as: (i)   a new Russian-based OPEC-like group using a gold-backed Ruble, made up of so-called non-OPEC oil producing nations, with this new group under Russian control.  It is not clear to me which oil-producing nations might be in this potential new group.  Information I have been able to find indicates that there are currently 13 oil-producing nations not now members of OPEC; (ii) there still seems to be active interest in formalizing a worldwide Muslim Caliphate with a gold-backed Dinar; and (iii) there have been references to an eventual China-based gold-backed Renminbi.

Watch for future chapters to unfold.  In my opinion, initiatives in the direction of gold-backed currencies will derive mainly from nations that have energy resources for sale internationally.  Best wishes to you in the tumultuous times ahead.  Equiz.

http://www.gold-eagle.com/editorials_05/willie040505.html

Fullgoldcrown you don’t ever have to be so bold as to ask me a question. If you don’t understand something or are a bit confused about some TA that I have posted please feel free to ask me to explain. I hope we are on the same team fgc and teammates are supposed to be there for each other to help make it to the championship round. I for one wish we could all play this game as a finely tuned team as we have some superstars amongst us that could contribute much more to the overall level of our play.
Below are some different looks for our rising wedge formation that has been in the making for sometime now. The 1st two charts are line charts of the HUI and the XAU that I think will answer your question as to the spike low vs the closing low.

The next 2 charts are the original bullish rising wedges on the HUI and the XAU complete with the false breakout through the top. The bottom of the these rising wedges are higher than the August low.
All the best to you fgc…Rambus

…..wow…..thats so cool…..sorta like Friend of Another…form ears ago at USA Gold Forum…..I was lurking there…while Another and Friend of Another were posting incredible stuff

…the have dissapeared for many years now…but their legacy lives on…….maybe someday Macroman and FOMM will enjoy the same standing and be so fondly remembered….

…for the record….i really hate this suff too….but as Floridagold said…you really have to try hard to be expunged here….maybe 10 handles are in Pergatory….out of over 400…..not too bad….

….Anyhow none of us want bad blood between Goldbugs…..but it should be obvious what is O k and What is Not by now…..I mean hundreds of posters get it and easily fit in……

..best FGC

Thanks for all your efforts!  This is truly a civilized place. 

PS MM sounds like you need to contact Soee directly.   No reason not to… 

I was in Ainslie Bullion, in Brisbane yesterday. They are not selling any silver at all right
now. They have a backlog of unfilled orders and don’t want that
backlog to get any bigger. They might take some new orders next week,
but even if they do the price will not be set till the end of April,
and delivery will not be till the end of June at the earliest. You may know that some months ago they set up their own supply lines outside the Perth Mint. So I think it is probably this supply line which is tight.

The story they are giving out is that BHP, which is the major producer of silver in OZ, is not producing very much now. Hence the general shortage.

Personally I doubt this story, or at least part of it. BHP might not be providing much silver to the broad market, but I doubt that they are not producuing it. Apart from their own substantial silver mines, silver is usually produced as the
by-product of mining for other things, like copper, lead, zinc etc.
Those mines are usually costed on the basis of the primary metal and then
any silver is a bonus. For the BHP story to hold water all their mines
would have to be producing less at the same time. I can see how a mine
here or there might be producing less silver, but on average you’d
expect a drop in volume here to be made up by an increase there. On
average things would be roughly stable. For my suspicions to be proved
wrong we’d have to have a drop in the production of all the primary
metals, the copper, lead, zinc etc. If all metal production was down
at all mines, then of course the silver production there would fall too. And of course there would have to be a major drop in production at the pure silver mines also. I have nothing to support this idea, so I suspect that mining is actually proceeding as usual, and that production is roughly as usual. Does anyone have any views or numbers on this?

What I suspect is happening is that someone, a big player with lots of
leverage in the BHP camp, is getting the silver first. Or BHP, or
someone else they are close to, is hoarding it.

There’s more. Ainslie also tells me that the Perth Mint is definitely
short of silver, and can only deliver with long lead times, like those
mentioned above, or longer. The story is that what they do get is
going “offshore” to a big buyer. Now who might that “offshore” buyer
be? Why am I thinking of China? And isn’t it likely that the offshore
buyer at the Perth Mint is the same one that I suspect is getting in
early with BHP?

You’ll recall the news recently from someone (I can’t remember who
right now) that the Perth Mint would not supply silver quickly, but if
that buyer wanted his unallocated silver quickly he’d have to take
gold instead! Worse, he was told he’d have to “sell” the silver and
then “buy” the gold, with the dealer spread against him in each case.

Back here amongst friends, what this suggests to me is that the
squeeze is on. If anyone has an unfilled order, or some unallocated
silver, or even allocated silver, then this would be a good time to be
putting on the pressure to get it in your hands as fast as possible. I
worry that when the squeeze gets really serious there will be a
middle-of-the-night rule change, and the new rules will definitely not
be in favour of the little guys like us!

Silver is a small market. The present price drop is surprising, not only in itself, but especially in view of the definite shortage in physical silver. I’m no expert, and I shy from conspiracy theories, but I’d have to think that this present drop is just a prelude to a much bigger rise.

Hold tight, this might be a rough ride…….

How about the timing of that mini-outage?  No, I did not do that to prove a point, but we did what we could to keep the ship afloat.   I figured the cost wrong before - it’s only $6/month so we get much more then what is paid for.

Trust me when I say that every single editor/administrator tries to be as fair, just, without prejudice and as reasonable as humanly possible.  We are all individuals much the same - no single one is close to perfect.  All we ask of anyone is that we be given the benefit of the doubt with regard to our actions.  We will  try to reciprocate the same.  goodnight..

Commercials are covering some of their short gold and silver positions.

http://www.cftc.gov/dea/futures/deacmxsf.htm

“as it was an extension of the banter from grandpa”

Please excuse my crotchety, surly behavior.  I’m a curmudgeon with gold fever, trying to squirrel bullion so the old lady can retire.  For the record, I don’t banter; I grumble, grouse, and gripe.

Grandpa