Oldtent Archives 2007 - 2008

It astounds me the audacity of these idiots in Washington. They are emboldened now and apparently feel they are bulletproof, able to ignore their lowly subjects who know not what is good for them. No longer are discussions of nationalizing private industries and massive tax increases whispered behind closed doors. They openly expose their hatred of private property, profits, and corporate enterprises. They discuss nationalization of private industries on the Senate and House floor!! The insanity of this is convincing me more each day that the US is doomed to a totally Marxist state with Central Planners and those who are convinced they alone know what is best for all the Proletariat being in control of our every movement. Our wealth, our currency, our values, our culture is being destroyed by the hour. What will the result of a an Obama presidency with a democratic majority in both Houses?What species of looney judges will get appointments? What idiotic bills will be passed? What punishment for entrepeneurs, small business owners, corporate entities, the evil speculators and horders of hard assets and commodities is in store for us? Will we be allowed to take any assets with us if we leave the plantation? Corruption and blatant violation of law, the Constitution and ethics is epidemic.

A contingency plan for escape is more important than ever. What if a capital gains tax increase is passed and made retroactive to the first of the year. I am seriously considering selling all taxable accounts in December, or before, and paying the 15%. How many others might do the same? Several I know who have substantial equity investments are suggesting they may do the same if it looks like the “Hope and change you can believe” candidate might win. Caveat: McCain sure does not excite me much either. . I no longer trust these markets or the Fed, Wall Street and the Congress to do anything but systematically destroy what is left of my fought for investment funds. My PM portfolio I now call my “deer in the headlights holdings” - I still got faith the truck won’t crush it and will miraculously leap to safety and incredible profits, notwithstanding the standard definition of insanity.

Going to Belize next month to evaluate options before it’s too late. End of rant.

Dusty, you’ll get no argument from me.  I think you’ve laid it out pretty well.  We’ve no Thomas Jefferson, John Adams or JFK available and that’s what we really need.  Someone needs to tell the American people NO, that government can’t provide their every need, that when you reach for government handouts that’s when the manacles are applied.  Will we ever be able to downsize the gobmint?  I am not hopeful.

Now at $795.70, GOLD’s 300 DMA continues to show the way……..

……………….UP!

“Patience serves as a protection against wrongs as clothes do against cold. For if you put on more clothes as the cold increases, it will have no power to hurt you. So in like manner you must grow in patience when you meet with great wrongs, and they will then be powerless to vex your mind.”

Leonardo da Vinci (1452 - 1519)

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Goodnight, everyone.

JBI

No, it isn’t just you, the dumbocrats are so far to the left that it is near impossible to see any resemblence to our ‘Dad’s Democratic party’. And the Repubs are so entwinted with big business that they have NO relationship with the adverage Joe/Jill.

The battle between the parties now is weather there will be hammer and cyicle on the flag (as you mentioned) or all stars will be replaced with corporate logos. It is truely saddening and sickening what the PTB have and are doing to our Republic. And they arn’t even decievious about it anymore, they blatently shove it in our faces and down our throats!!

Would like to say “Better days are ahead”…..but I’m afraid they’r not.

Dusty

…….PM Stocks and Energy Stocks still rule and have much further to go, imo…….

…..seems that every time HUI’s RSI has gotten below 50 an excellent opportunity to BUY MORE was created, as it is doing now.

JBI

Most of the pinheads in Washington should just stop the hypocrisy, get together and start a socialist party. The lying thieves want to make us feel we can’t do without them. They know what’s best for us, of course, and want to make us feel totally dependent on them. PUKE!!!!!!

JBI

PS - I think JFK would have been considered a right wing conservative nut in today’s world. Geeeeeez!!!!

4 hr dt is broken and testing, hopefully not too much weakness overnight as the euro tests that ihs bo,maybe in the morning right on cue as usual..8:30 ding!

great who video cannuckgold!

I know you have pointed out that message between the cretins many times, what pisses me off, is it’s usually right, thanks for the heads up, it’s always worth keeping an eye on, and having a little cash also. I personally think the cretins are done, most surprises will be to the upside till November.

Is it just me or have the Democrats taken a sharp turn towards the left in the last 10 or 20 years?  Seems like they used to be more towards the center.  And the Republicans are no better.  The GOP has evolved into a special interest group monster.

You’re right it’s hard to believe…and not likely to get better. 

GLD, SLV and others like them are now being used by the public and by large institutional investors in lieu of potentially more risky resource stocks, thus sucking them into what is, in reality, a trap for the unwary. This cartel strategy will, in the end, backfire because it will stifle mining production and thereby greatly reduce available supplies of precious metals, which are already in short supply, especially silver. The cartel knows this and further knows that these ETF diversions are only a delaying tactic. The fact of the matter is that gold and silver are now unstoppable no matter what the cartel does.

As we have warned now for quite some time, these new gold and silver ETF’s are just another shell game to hide bullion manipulations with more paper poppycock through use of “creative accounting.”

The idea behind these new elitist sucker-dupe-traps was to create a publicly funded pool of metals for suppressive use by the cartel’s Illuminist elitists whose central banks were quickly running out of precious metals in deliverable form on account of short-covering of futures, leasing transactions and producer hedging by the cartel’s web of gold and silver manipulators.

This is what the Washington Agreement was all about, namely, the rationing of central bank gold reserves (real, physical, bullion reserves as opposed to phony paper reserves) to avoid a bank run situation that could have occurred through overzealous greed and suppressive efforts.

If their bullion supplies had not been rationed out over the course of many years, the central banks would have been taken out of their gold far too quickly, leaving them with no ammunition to suppress the metals to continue their cover-up of the destruction of our economy through free trade, globalization, off-shoring, outsourcing, and both legal and illegal immigration.

Although these ETF’s claim to hold the appropriate amount of gold and silver bullion against their outstanding shares according to the terms of their charters, the fact of the matter is that the possibility is very real, even very likely, that they have hypothecated or encumbered their reserves in much the same way as the Fed and the US Treasury have encumbered the supposed gold held in Fort Knox. The so-called “gold reserves” in Fort Knox most likely either do not exist, having been stolen, or no longer belong to the US Treasury, having been either swapped or leased out. This type of hypothecation and encumbrance of gold and silver holdings is done through misdirection by what are called “swaps” and “leasing.”

Remember that elitist insider banks HSBC and Barclays, the main ETF custodians, are international banking concerns and each must use the accounting methods designated by the International Monetary Fund (IMF). Non-segregated gold and silver bullion, meaning bullion that has not been designated as being owned by a specific customer of the bank, can be leased or swapped and afterward can still remain on the balance sheet of the custodial bank as one line item according to IMF accounting rules. We do not know whether ETF bullion holdings are added to the banks regular bullion reserves or are kept as a separate reserve or custodial account. Perhaps you might inquire of them as to how they account for their ETF gold and silver custodial holdings.

www.theinternationalforecaster.com/International_Forecaster_Weekly/ETF_Threat_to_Gold_and_Silver_Rallies

RBS issues global stock and credit crash alert

The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.

“A very nasty period is soon to be upon us - be prepared,” said Bob Janjuah, the bank’s credit strategist.

A report by the bank’s research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as “all the chickens come home to roost” from the excesses of the global boom, with contagion spreading across Europe and emerging markets….

www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cnrbs118.xml

I hear you, Ipso. I feel so damn angry……….and sad. I still can’t believe what I see happening in this country.

JBI

“Among other things, the Democrats called for the government to own refineries so it could better control the flow of the oil supply.”

We might as well start rationing gasoline right now and replace the stars on the flag with a hammer and sickle.

Russian joke:

A woman walks into a food store. “Do you have any meat?”

“No, we don’t.”

“What about milk?”

“We only deal with meat. Across the street there is that store where they have no milk.”

Or as the Brits call em - The Ooo

Dow Jones World Stock Index - prior to tonight’s opening of bourses in the Asia/Pacific Region

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Tonight:

Australia’s S&P/ASX 200 opens 0.2% lower at 5,432.40

South Korea’s Kospi index opens 1.3% lower at 1,751.79

Tokyo’s Nikkei 225 opens 0.9% lower at 14,324.71

New Zealand’s NZX-50 falls 1% to 3,356.45

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JBI