Oldtent Archives 2007 - 2008

I am greatly saddened by the news that Humanoid died yesterday.  My prayers are with him and his family;  the pain of your grief is massive.  I hope that in the days and weeks to come your friends find ways to keep in touch with you, find time to phone and listen to you talk about the great man that you knew, and spend time with you when you find it hard to be alone.

I did not meet Humanoid.  I loved his posts.  His spirit was strong.  I sensed a special intensity and compassion in whatever he wrote.   It brings tears to my eyes to think that such a man no longer walks among us.  God bless you and yours Humanoid.     TQ

I just got home and saw the news. I am very sad to hear that Humanoid has passed away. I was hoping that one of the alternative cures would arrest the progress of his cancer, but such was not to be. He will definitely be missed and he will not be forgotten. I will particularly think of him whenever we here on the tent are tense and bickering over something. I will see in my mind his message in capital letters: “STOP IT YOU GUYS!”

A wise and good man. Yes, we will miss him.

much thanks pal. they let me out on good behavior for a long weekend pass.wj

  You were the first to say hello and welcome aboard.  Here’s it is… right back at ya.

In today’s dollars, 1975 gold at $196 is more like $750 in the current market. And 1980 gold, the peak year at the historical price of $850, would now clock in closer to $2,176. And remember, this is only what you get using the most conservative market calculation of gold’s worth. There are other, even more telling ways to value gold.

Try this on for size…

$38,349 per Ounce!

Remember, for a good part of America’s history, every dollar in your pocket was a dollar backed by gold. So it’s not so crazy to ask yourself… if America has 8,180 tons - or nearly 261.7 million ounces - of gold in reserve… how many dollars does that buy?

The answer will shock you.

When dollars became unhinged from gold, the printing presses at the Fed cranked up. By 1980, for every ounce of gold in America, the financial system carried $6,966 in cash. That’s $1.8 trillion total. But get this, by the end of 2005, the total real money supply shot to over $10 trillion.

That’s $38,349 in circulation for every ounce of gold in reserve!

Of course, it’s even higher now. The printing presses are still cranking, well into 2007. Only now, it’s much harder for you to know how fat the actual money supply has gotten. See, by March 23, 2006… the number had gotten so embarrassing… the Fed actually “retired” a number called “M3,” which was the most broad-reaching measure of how much cash floats around in the system.

A Cowboy and Arab Talk Frankly
Bill,
With gold capped again at 1% with oil approaching $134 I thought I would imagine what a fly on the wall heard when President Bush visited King Abdullah last week.

GB: “A lot of folks in America are upset over, you know, the high oil prices.”

KA: “Need I remind you your dollar is worthless? Have you brought me any more collateral?”

GB: “Paulson said to tell you that IMF gold should have held you over for a while.”

KA: “400 tons? You already owed us that from previous years.”

GB: “We’re having some, uh, difficulty obtaining more.”

KA: “Is your Fort Knox not full?”

GB: “I’m told it’s… encumberated, or something like that.”

KA: “What about your Catholic boy? Did you not invite him to Washington last month?”

GB: ” Uh, yeah, his Holiness, sir, but he wasn’t very, uh, cooperatative.”

KA: “Did you remind him another church scandal wasn’t in his best interest?”

GB: ” Yes I did, but he said the Vatican’s gold was what saved their financial bacon in the first place”.

KA: “You are in a predicament. What other collateral can you offer?”

. GB: “My generals say there’s new weapons in the pipeline- you know, really scary stuff. You can have first dibs”.

KA: “We’re already up to our eyeballs in weapons, and half of them don’t work anyway”.

GB: “Benny-Ben over at the Fed said there’s some good deals on some banks he’s getting ready to repo”.

KA: “That Citi deal didn’t exactly work out you know. How do you Americans say- it was “a pig in a poke”?”

GB: “I’m still working on a port leasing deal. It’s politically, uh, still sensitive”.

KA: “Your endless wars against my people’s nations are becoming tiresome, besides unprofitable. Who can say how much longer we can support your dollars?”

GB: “(big gulp) I don’t think Cheney’s gonna like this. He made me come here anyway, I thought it looked, uh, too humblifying.”

KA: “Stay in touch. Maybe you’ll find some gold in Jerusalem next week”.

GB: ” I’m glad we had this frank exchange of, er, views. One decider to another”.
James Mc

the passing of humanoid should remind us that we are only passing through. we get out just like we got in. there are no sideboards on caskets. rip humanoid.

rno

thanks good buddy. if not on the reef where else..ahhhh pasadina in a couple of weeks thats where. i have use of my sons laptop 24/7 and have sent certain files i shall be using as i use here at home. a seamless comp-u-tater transisition. [g]
looking so very foward [but surely not the airport bs to get there] to seeing my son and his lovely wife and the pasadina inlaws…and especially my baby grandchildren who i have not yet met. returning 3rd week of june and then back to some legal beagle stuff for a mediation of the damages re-trial of the ‘ducks’ case.
one day i shall really retire!wj

What a great inspiration you were to all of us in the tent. On this sad day we celebrate your life. May your family and friends find the inner peace within.

nice to see you still hanging out on the reef - WELCOME BACK!

Tuesday we discover that Moody’s made a, uh, “mistake” in their computer software that erroneously rated certain synthetic debt obligations (CPDOs), causing “AAA” ratings to be applied when they should have been four notches lower.

This apparently was discovered internally at Moody’s in early 2007, but do you remember any public announcement of this error, any mass-rerating of these securities, or any, uh, compensation to those who were screwed?

I don’t seem to recall that disclosure, do you?

Gee, you don’t think that perhaps investors, the public, and oh my gosh, the buyers who overpaid for these CPDOs had a right to know that there had been an error made, do you?

I mean its one thing to make a mistake, but its quite another to cover it up!

http://market-ticker.denninger.net/

The day which we fear as our last is but the birthday of eternity.
Lucius Annaeus Seneca

yes my friend he will be missed. wj