Oldtent Archives 2007 - 2008

Hi ….haven’t posted lately, been busy with my family………….. however here goes & you can take this with a grain of salt….

a friend, whose brother-in-law is the senior partner in a Harrisburg, Pennsylvania  law firm, says his brother -in-law, who went to law school with numerous NY lawyers, said  that Lehman was next……. this same brother-in-law attorney & his partners put $1,000,000.in Euros @ $1.28 and are still holding. Now my friend doesn’t bs me and I know thereputation of the attorney & his firm….so maybe this is true. This prognostication was made after Bear Sterns.

But then what do I know except to,

buymore

Thoreauly (usagold.com 03June2008; 6:37)
“What Garage Sales Tell Us About Our Economy” From our friends next door. Good w/charts

Inflationary Recession Is in Place

Banking Solvency Crisis Has Opened First Phase of Monetary Inflation

Hyperinflationary Depression Remains Likely As Early As 2010

www.shadowstats.com/article/292

Sorry, certainly not good news, but it is certainly worth paying attention to when it happens.  Actually XAU turned down last Friday I believe it was.   Not important to some people but alot of traders “nickle flippers” pay particular attention when it happens.   JMO 

June 2, 2008, 11:55 am
Flip That Jet

Last month, I was talking to a private-jet owner who told me he was having a tough time justifying the cost of his Gulfstream IV. I assumed he meant he couldn’t afford it.
Turns out he just couldn’t resist the profits from selling it.

a jet

“Someone just offered me $5 million more for the plane than what I paid for it three years ago,” he said. “It’s tough to turn that down. I can always charter.”

The market for used jets is booming, despite the wobbly economy. An article in the Journal by David Pearson says that demand for used jets has created a “topsy-turvy” market in which used planes are selling for more than new ones.

The market is being fueled by newly minted billionaires in the Middle East, Russia and other commodity-rich countries. The new petro jet-setters are willing to pay inflated prices for the right to fly their planes now, rather than waiting for years for a new model. (The wait for Gulfstream’s latest model can be more than 10 years.)

A brand new Gulfstream G450 sells for about $40 million, but a used one can now fetch $4 million to $5 million more than that, the article says. “That’s because you can fly it next month, instead of the first quarter of 2013,” said Matthew Hartnett, VP of pre-owned sales at General Dynamics’ Gulfstream unit.

That’s led to a new trade in jet flipping, where people sell their waiting “slots” for new planes for big profits. “If you need a plane in six months, you have to go and buy a position from someone,” Paolo Carmassi, of Honeywell Aerospace, told the Journal. “And there are people making a business selling their positions.”

Jets have now joined art, yachts, and Ferraris in the game of speculative flipping.

Of course, Gulfstream is doing all it can to stop G650 speculators. Dassault is writing clauses into contracts forbidding buyers from passing delivery on to third parties. But as long as demand remains high — and Russia and the Middle East keep pumping out oil and billionaires — jet flipping is going to be tough to stop.

Your post was inspiring, there arn’t too many Doctors like you around any more. Last Doctor I went to although very polite, asked me a bunch of questions while staring at a computer, then waited for an answer. After which I told him I was in the middle of a epidemic where patients were coughing in my face many of which were found to be in respiatory isolation, some, with marsa. Now how do you get that on a computer, who knows maybe. I hope when this last generation of Doctors retire, they are able to influence others to be that same kind of Doctor. I know its harder now, they have thousands of patients and corporate dollar counters are a vectors for illness forcing long waits and not enought time with the patients. Yes seems I teach everyday, some nurses can learn but they can’t teach, the new ones quickly find out whos who. Actually today I didn’t have to, but will have to turn around and do a noc shift tonight but will be home to watch the stock market tomorrow althought looks like not much to watch.

Free movie, don’t know if I mentioned it but I found a site via the young crowd, where you can watch movies for free, when u just don’t feel like going out.

Its called  watch-movies.net  So far Ive seen the new Indiana Jones which wasn’t as good as I hoped it would be. But the Acromedia strain was very good. Click the alphabet A and there it is. I will have to watch it again though, cuz they have a strain of bacteria where it only grows in inferno prob. 1000s degree temps. Im guessing the ones that grow near volcanos under the sea, they may have over looked the heat loving bacteria would not survive what would be sub freezing temps of 80F to us. But it was a good movie, better than Indiana. You might have a little trouble navigating through it at first and some times the movies are slow and have to keep hitting the go button esp. the Full movie choice vs parts 1-6 or what ever and some of the ops numbers may not work while other will. But if you havent seen Indiana or acromedia and wonder if its worth seeing that is a way to find out.The Asain version to get a full screen just hit full screen box in right corner then the box to the right with the arrow pointing  up underneath the picture.

http://www.24hgold.com/viewarticle.aspx?langue=en&articleid=262690_The_Next_Shoe_to_Drop_Captain_Hook

Tend to agree with most of what is here. Also, Rick Ackerman did some long term chart sof brokerages and banks. From the looks of it, UBS, MER, FNM, LEH and Citi are all toast.

  More good news eh? Geesh.

  :)

MACD has crossed down on $GOLD, $SILVER, HUI, XAU and GDX.

“if some of you think i am acting like a broken record, please tell me and i will stop repeating myself. ”

Not at all.  A fine post! 

“I went and looked at CALM after reading your post. 87% of the float is short. I’m not sure that is possible.”

If that’s then right number then…it looks like they have a problem!

These naked shorts are like some kind of infestation of cockroaches.  Woe to the stock that harbors them.

I forget who posted it but what about that stock that had something like 60 million shares out and 80 million shares were voted at the AGM.  That this is allowed to happen makes it clear what kind of country we live in.  It is scandalous, legalized theft.

LONDON (Reuters) - Police seized thousands of safe deposit boxes from three vaults in central and north London on Monday after receiving intelligence they were used by criminals to store cash, guns and drugs.

Scotland Yard said officers raided vaults in Park Lane, Swiss Cottage and Edgware run by a privately run firm, Safe Deposit Centres.

Two people were arrested in the raids, which also included two other business premises and three private addresses in London and Hertfordshire.

Police sources said up to 90 percent of the boxes could contain the proceeds of crime and other illegal items such as child pornography.

The vaults are estimated to contain around 7,000 boxes, although it is unclear how many have been in use.

“We believe this police operation has the potential to simultaneously impact upon a large number of criminal networks, in London, nationally and globally,” said Assistant Commissioner John Yates.

“Intelligence gathered over a protracted period has indicated that there are potential links at these businesses to organised crime such as paedophilia, firearms, drug trafficking, fraud, human trafficking, prostitution and money laundering.”

Police will take the boxes away to a secure location. Any not claimed by their owners will be forced open and the contents investigated.

“Each safe deposit box will be treated as a single, potential crime scene,” said Yates.

Police said the scale of the raids, codenamed Operation Rize, was unprecedented and involved 300 officers.

Courts have given police warrants to search individual security boxes in the past, but never this many at one time.

The operation began after police went round safety deposit firms in London reminding them of their responsibilities under legislation covering money laundering and the proceeds of crime.

While other firms were found to be compliant, officers became suspicious about the company raided, which appeared to be turning a blind eye to the rules.

Tough regulations requiring banks and financial institutions to “know their customers” have made it difficult for criminals to deposit large amounts of cash.

A website for the raided business stresses that “discretion is always assured” and that “you need never disclose the contents of your box to anyone.”

Police said customers wishing to collect their belongings should not go to the raided vaults but contact a special call centre on 0800 030 4613.

(OF COURSE IT COULD!)

No one gets harsher than Lou……

Skip the heroin…….drink the Wine

http://www.youtube.com/watch?v=Uri6LLCZVjg

Winedoc

been reading a few posts and though i might interject a few things from the past. if some of you think i am acting like a broken record, please tell me and i will stop repeating myself. first and formost, gold is a lagging indicator. it moves last. oil is a leading indicator. it moves first. interest rates are a current indicator. it goes oil, interest rates and gold, in that order. oil has gone far enough to affect the economy. bonds are breaking, indicating higher rates in the near future. gold is still sitting on the launch pad waiting. the pm market may be manipulated, dunked, dropped, stapled, mutilated, spindled, splashed, mashed, broken, and endure polar bear flatulence (global warming). when oil has made its move and rates go up, gold will go. that’s my story and i’m sticking to it and i invest accordingly.

the 300 day moving average of gold is posted reguarly on this site. take heed. a pencil and ruler are the most powerful ta tools available. trend lines, channels, and support and resistance levels can be plotted quickly. wait until the market moves to an extreme and pull the trigger. don’t initiate positions in no-mans-land (in between extremes) i’m probably the most experienced at violating these investment rules in the past and have some permanent scars. “the less time your fingers are on the anvil, the less chance of getting your fingers smashed” is still good advice today.

the market will move when it’s ready and serves no mans’ convenience. competent patience my brothers and sisters of the tent, will be rewarded handsomely.

rno

how I talk after today,

http://www.youtube.com/watch?v=jYyBZE0kBtE