Oldtent Archives 2007 - 2008

I will be hitting the TO airstrip at 10:10pm thurs. Maybe Kyle or someone but if busy I will just cab it.
CT I will be coming in with almost empty luggage so Parrot’s Rum I will get.. Is is a Bird’s urine sample or what? I will have all Maya’s coffee sniffed out and hidden by Fri morning haaaa
Get ready for more days like today we are gonna win this thing my friend.
Stuff unfolding pretty well for the Stones” like I always said…there is no force on earth that can stop a concerted effort by members of this outfit.
Especially the cabal. I have good news for travelers and potential visiters to Belize at Totts.
The banking team also confirmed their flights to Totts.
Fully, you better check out porta pottys for the backyard if we have more people. …And I dream of seeing “Belle” again…love ya all

Federal Budget Deficit Nearly
Twice What it Was a Year Ago

JPMorgan Chase CEO:
Recession is just beginning

Report: About half of Cleveland’s
subprime loans ended in foreclosure

The Oil Nonbubble

Shipbuilding Torpedoed by
Subprime Causes Cost Surge

The global slump of 2008-09 has
begun as poison spreads

Anti-Americanism in Pakistan

Pakistan ruling coalition close to
collapse

May cause insomnia

HSBC sub-prime losses hit $15bn

Hard numbers: The economy is
worse than you know

Chilean Drought, Power Shortages
Drive Up World Metal Prices

The Case Against Leveraged ETFs

THE COMMODITIES CYCLE HAS A
LONG WAY TO RUN

Now I lay me down to sleep
and pray the Lord my soul to keep..
And should I die before I wake
I pray the Lord,, my soul to take..

With Most Care and Respect

abtd

…?

This market in both the physical AND junior Canadian mining stocks is a repeat – REPEAT – of the action in late 1978-Summer 1979. Big correction in the Fall to End of Spring with the old Vancouver Exchange down about 45% and many juniors down 50-80% off the highs. Right around this month thirty years ago, the metals all turned up with a vengeance and by the top in January of 1980, the VSE had doubled along with similar moves for the TSE Mines and Metals and Precious Metals Indices. Canadian, Australian and South African exchanges and currencies led all world markets in performance during that period. Of course, the problems of 1978-1980 were not related to the structural bankruptcy of the U.S. banking system – all Paul Volkker had to worry about was inflation. I’ll bet Paulsen and Bernanke are longing for the “good ol’ days” of 1978-79.

I think we are in the same “sweet spot” here in May 2008.

Cheers
MJB
Michael J. Ballanger B.Sc., B.A.

…For your friends that dont yet get it .send em this !

…if they still dont get it GIVE UP !

The U.S. Mint downgrades…

Bill,
Congress just authorized the U.S. Mint to start producing steel pennies over the next 9 months and steel nickels within two years www.steelguru.com/news/index/2008/05/11/
NDQ5MzM%3D/US_ditches_zinc_penny_for_steel_version.html. Currently pennies are copper plated zinc and nickels are 75% copper and 25% nickel. This marks a new low in the value of United States money, but continues at trend put in motion 95 years ago. The Federal Reserve was created in 1913, twenty years later in 1933 gold coins were taken out of circulation, then 31 years later in 1964 silver coins were taken out of circulation, than 18 years later in 1982 copper pennies were taken out of circulation, and now 26 years later zinc pennies, and copper and nickel nickels are being legislated away. The economic pain inflicted on working and saving Americans by the Federal Reserves inflationary actions is sickening. Where is the outrage? I figure the Federal Reserve has debased the currency 98% already. Nationwide according to FBI statistics, there was something like $73 million stolen in bank robberies and burglaries last year. We have thousands of law enforcement personnel working to prevent this and prosecute the thieves. The Federal Reserve on the other hand creates $75 billion in a month and everyone says thank you. The term for this is “legalized plunder”. Regards,
-Bryant

…..My comment remains….why not just do away with the damn things…nobody cares about a damn pennie……question….is there a One Hundredth of a Yen coin in circulation ?

..this one is from Doug Noland….man do we have some sharp guys on our team

Bill:
If you haven’t done so yet, you should read “A New Inflationary Epoch” in this week’s Credit Bubble Bulletin written by Doug Noland at Prudentbear.com.

www.prudentbear.com/index.php/CreditBubbleBulletinHome

What he has to report is absolutely stunning. Why gold and silver aren’t flying at this point has only one plausible explanation, IMO. Of course, we both agree on what that explanation is. As I continue to personally and professionally experience much of what Noland has written about, I just can’t envision anything other than a growing inflationary nightmare for all of us. So what if the DJIA crashes to 3000 or hyper-inflates to 100000, or just stays near present levels? In no case can it be seen as positive under the circumstances and conditions Noland describes in his bulletin. Savings and livelihoods in all socioeconomic strata are going to be greatly reduced or wiped out altogether regardless.

What will it mean for the common person when, not if, he or she can once again buy a share of the entire DJIA with a single ounce of gold but is unable to do so because they own no gold due to their being intentionally misled and lied to by those who have a vested interest in making sure that no one ever again believes in the wealth-preserving powers of this most precious metal?
Jay…

www.prudentbear.com/index.php/CreditBubbleBulletinHome

“The CRB Commodities index closed today at an all-time high, sporting a y-t-d gain of 19% and one-year rise of 37%. The Goldman Sachs Commodities index, also ending at a record high, has gained 28% so far this year and 68% over the past 12 months. During the past year, soybeans have gained 85%, corn 72%, and wheat 68%. Prices for iron ore, steel and hard commodities have experienced similar price inflation. Gasoline prices are up almost 40%, natural gas about 50%, and heating oil about 90% over the past year.

A second important theme also emanated from the Fed’s and Administration’s desperate measures to sustain the U.S. Bubble economy: one upshot of this gambit would be stubborn Current Account Deficits and resulting ongoing growth in the increasingly destabilizing Global Pool of Speculative Finance. Not only do China, India, Russia, OPEC and others today enjoy ample reserves to bid up the price of global necessities, the leveraged speculator and sovereign wealth fund communities remain awash in financial resources that embolden huge speculative positions in various energy and commodities markets – essentially “front-running” real economy purchases. It’s turning into a battle royal – and a prime dynamic of A New Inflationary Epoch.”

…..2 years ago SOB called the Tottsville Inn and Bought a round with his cc number…never could figure that guy out…is he still at G E ?

At Gold Rush 21, Reg Howe spoke of this in various ways, even making the point that it would make sense for U.S. oil producers to buy gold instead of buying back some of their own shares.

I had planned to cover this in a little greater detail, but yesterday James Turk did me many steps better in his wonderful Freemarket Gold & Money Report (contact@fgmr.com), emanating from North Conway, New Hampshire. Some excerpts from that commentary and what James had to say on this very same subject:

I usually don’t refer to the price of crude oil in terms of gold with regard to gold trading. But here is an interesting development too important to ignore.

Crude oil closed Friday at 4.429 goldgrams per barrel. Since the end of the Second World War, crude oil has only been this expensive on 33 days, or about 0.002% of the time. So clearly, we are in the extreme tail-end of the bell-shaped curve, meaning that gold is extraordinarily cheap compared to crude. But here’s the interesting point.

All of these 33 previous days when crude oil cost more than 4.429gg/barrel occurred in 2005. What’s more, they occurred in a short period from the end of July to mid-September, which was another period of extreme price manipulation by the gold cartel.

You may recall that GATA held its successful Dawson City conference in early August of that year to bring into public view the price capping activity of the gold cartel. The gold price began to rise after the GATA conference, from $432 at the time of the conference to $720 by May 2006, a 67% gain in a mere nine months. The price of crude oil fell at that time to 3.154gg/barrel.

It is therefore an interesting coincidence that crude oil is again over 4.429gg/barrel now that GATA has just completed its successful conference in Washington, D.C. to again bring into public view the price capping activity of the gold cartel. So the obvious question is, will history repeat? Will the gold price soar in the months ahead so that the price of crude oil in terms of gold falls back to more reasonable levels?

No one can of course predict the future. But buying undervalued assets and/or selling overvalued ones is not an attempt to make a prediction, but rather, to simply take action that makes good economic sense. Right now the undervalued asset is gold, and it is just as much undervalued now as it was at the last GATA conference.

So only time will tell whether history will repeat, with the price of crude oil falling back toward 3gg/barrel after this latest GATA conference. But regardless, gold is the place to be, and by implication, the gold stocks too.

Whether others will eventually cave is anybody’s guess. But, all they have is a hope trade. Meanwhile, the U.S. economy is worsening, as inflation roars on. At the moment all we have seen in the dollar is a considerable consolidation period, after a prolonged decline. A base was formed and we got a minor breakout. The breakout has turned MANY on Planet Wall Street dollar bullish, and it is the talk of the town to some degree. It is ironic that the U.S. has dodged a financial market fiasco bullet by injecting our system with untold liquidity, which is dollar bearish, only to have that action cause Planet Wall Street to turn dollar bullish.

The point to this is, from a contrarian viewpoint, it is comforting to see so much bullishness out there as far as the dollar’s future prospects are concerned. Growing inflation in the U.S. is not likely to diminish anytime soon, and a roaring dollar seems like a pipe dream.

When the price of gold moved up this late winter with a surging price of oil, many analysts pointed to the rising price of oil and rising commodities prices as significant reasons why gold leaped to $1033 per ounce. Since then a total disconnect developed. Crude oil rose another stunning $16 per barrel and the CRB made a new all-time high, yet gold is $150 off its high and silver is down 20% from its high.

As oft-said here, it is more than aggravating to have the Planet Wall Street/mainstream gold world go silent on the obvious WHY of all of this. They cannot be insulted enough for their negligence on least exploring why a former leading indicator of inflation has become a dud in that regard.

Instead, they will come up with all kinds commentary to suit their own day (PRICE ACTION MAKES MARKET COMMENTARY). The latest from a number on Planet Wall Street, in a desperate need to explain why oil has run up so much, is that oil has become a currency … a reason for speculators to want to own it rather than deteriorating dollars, etc.

OK, but then why is gold, A CURRENCY or alternate MONEY, so depressed? If oil is moving up for that reason, gold ought to be going bonkers. Of course, I am begging the question on that one.

Praytell,, What is the RPW

Real Pro Wrestling - Wikipedia,
the free encyclopedia.
Searching,, and all I find is the above..
Thanks In Advance
abtd

To All

As I peer into future
only see much trouble..
If you speaking with
Non-Gold Bugs regarding
the Precious Stuff or related
stocks.
NOW IS TIME TO,, STOP ! ! !
STOP,, STOP,, STOP..
You are at the point of
becoming very,, very rich..
Your friends may end up
homeless.. And,, they will
not forget YOU..
Be Safe and Secure !!!
STOP NOW……….
More Later

anotherone_bites_the_dust

www.youtube.com/watch?v=wGNoXwiQXd0
..

Today will go down as one of the most bizarre trading days imaginable, making my commentary extremely tricky. It began last evening during the early Asian trading hours. Silver began to break out from its downtrend, with gold following. However, as soon as the dollar ticked up, The Gold Cartel went into action to take them both back down.

That weakness persisted on through the early Comex trading, for gold. Silver “The Mule” was ready to show its independent self and began to rally on its own, clearly taking aim at its downtrend line established after it took out $21. Its unusual strength was quite noticeable. It would lurch forward, but then fall back when the cabal smothered gold, which The Gold cartel kept on doing, despite the dollar dropping and dropping.

The Working Group On Financial Markets and Gold Cartel were going all out this morning, taking the DOW up over 100 early, and nailing gold on every rally, despite a weakening dollar. They even took the yield on the 10 yr T note down to 3.74%, nullifying the most important aspect of the yield surge last week. Once the stock market took off, the yield went back up to 3.79%.

Each time the euro rose .10 this morning, gold would rise say $1. Then, when it would correct .3, gold was nailed for $2 on the downside. This pattern continued throughout the morning. Silver was pulled back each time the gold hit men pounded away at gold.

This is the sort of gold commentary which is so infuriating over so many years, as they NEVER do an “oops” when what they say falls apart due to Gold Cartel obvious intervention…

Gold falls with dollar rise, may slip further

Mon May 12, 2008 11:37am BST

LONDON, May 12 (Reuters) - Gold fell on Monday after erasing overnight gains, as the dollar’s recovery against key currencies lowered the metal’s appeal as an alternative investment.,,

-END-

Silver was our clear star for the day. After making a $16.67 low, it roared back, taking out its trendline, which attracted a fair amount of spec buying and short covering. The technical pattern which has developed is extremely constructive…

July silver
futures.tradingcharts.com/chart/SV/78

Throw that in with a very positive fundamental situation, and we could be close to silver coming into its own and heading for $25 per ounce.

The Café Sentiment Indicator the past three days was as low as I have seen it in over 9 years. The Gold Cartel’s tactics are working, as investor interest in gold diminishes, partly because of what was covered above. They see oil/CRB/inflation surging and gold going nowhere to down. “Why bother,” they say.

The gold open interest fell 8051 contracts to 433,069. Once again silver went the other way, rising 1954 contracts to 123,762.

As our US election season goes into high gear, the “economy” has become the number one issue for voters. To break that down further “growing inflation” is their number one concern. They are getting squeezed from every angle, as they watch the value in their homes deteriorate. Our government keeps telling us that inflation is contained, but they have lost credibility on that score, as we watch gasoline prices reach $4 per gallon in many areas. The real inflation in the US, versus the official sector accounting, has grown so blatant that even some on Planet Wall Street are cajoling fellow inhabitants for focusing on the core rate and not the real rate, the headline number.

A main reason for our growing inflation is the weak dollar. While Paulson the Parrot, as well as President Bush, continues to mouth inane stuff about valuing a strong dollar, the Fed et al, including The Working Group on Financial Markets, continue to maneuver in ways which are an anathema to a stronger dollar.

The hopes of those waiting for a major rebound in the dollar are based on other countries folding their tents on inflation, as we have acquiesced. But, so far most have resisted the Siren’s Song…

“PM Fever is buying Beer !”

No problem…………..How long does it take to get a check to Tottsville?  Come to think of it, do they accept US checks in Cannnuckville?

Renting an apartment, and you go on vacation for the weeked, then come home to find the owner auctioned off all of your stuff over the weekend, but you still have the rented apartment to live in.  Hey, if it is legal, then let’s open a rental facility for Gold and for Silver.  Kinda makes you wonder about leaving your PM’s in the safe keeping of an institution, eh?

Present one was interesting …about as many Tentsters would SHove it to Paulson as would buy Gold…and you 2 guys who would put it in the bank ?….Must be Bankster Lurkers…

…PM Fever is buying Beer !

…any new ideas out there…?

Gene Pitney wrote Mary Lou might even have been the first to sing it but Rick Nelson’s version predates Fogerty’s by quite some time.