Loading ...That’s probably it for uploaded photos for at least a week. Adopt a piece of jewlery at or near it’s gold content value. Link to photos here:
http://s88.photobucket.com/albums/k187/kay7979/Jewelry%20Tent/
Link to the explanation about the jewelry tent here:
….So you are telling me that Obama and McCain…besides being inelligable to become President due to birth place irregularities….also forgot to register their candidacy in One of the most Important States in the Country…and wont appear on the ballot…
….Name one third world Country with a more archaic screwed up system full of holes and miscalculated ballots….
….Sorry guys but this U S Election Procedure stuff is the laughing stock of the world !
…..Really Shaking my empty head here …sheesh
Have to agree with fgc and samb about this subject. I have been a fruit farmer most of my life and have seen a lot of changes. Mainly, cost of production increases, government intervention from many areas of my business. I could write a book about this. Maybe in another life. Anyway, peaches in nw arkansas 1965 $2.50/bu. now 2008 $40.00. blueberries 1972 $3.00/ gal. now $ 22.00/ gal. Think i will stick with au and ag and the miners. Hang in there, all this stuff is just to throw you off .
New Orleans Mayor Ray Nagin was just interviewed on CNN. He stated:
- Evacuation, if declared, will be at 72 hours and it will be mandatory if the storm surge is above the levees (17 feet) and/or a Category 2 storm bound for the city.
- They won’t repeat the mistake of thinking the Federal government will rescue citizens.
- While he is “catiously optimistic” about the levees, he has no idea whether they will hold
As of this hour, both the AccuWeather (red) and NHC (yellow) forecasts show the storm approaching New Orleans as a Category 3 storm on Labor Day (screenshot shown below from our Google tracker
Sure, But, I was equally guilty in trying to catch a falling knife.
Anyone, buying silver in here screws them royally.They don.’t have enough of it to satisfy demand. They think that the lack of money will eventually satisfy demand. For lack of the essential we will just ignore our need Figure that one out.
Dennis gartman earns a nomination for Moron of the Year
Although Dennis is a nice chap his latest rant has earned him a nomination for my coveted Moron of the Year Award. If you look at his comments highlighted in red by me you can see how clueless Dennis Gartman is on the subject of gold…he thinks that the “blanks” are part of the equipment to press gold coins!!! He says “Literally, the stamping tools needed by the Mint are in short supply” and later on “So, we found it nearly comical that the US Mint said that the shortage was due to a shortage of blanks needed to mint the gold it has ready for coinage; there is no shortage of gold; there is a shortage of the minting devices”
So DG is such a moron that he doesn’t even know what blanks are! He is falling off his chair laughing at GATA because he thinks we have confused a shortage of “blanks” (which he thinks is a machine part!) as being a shortage of gold! He had better stop laughing because he now has made him self a laughing stock (and not of the gold variety!) because it is he who has confused “blanks” as being part of the minting machinery. Dennis, you should check your facts before you go shooting your mouth off about GATA. The Mint is not short of some pice of machinery to mint the gold it has ready for coinage…blanks are those one ounce circular discs of gold that need to have an imprint pressed onto it to make it an Eagle coin!!! Dennis, you are quite the expert on the gold market aren’t you?
QUOTE
Finally, last week much was made by the Gold Bugs and the “Conspiratorialists” who populated the bullish side of the market that the US Mint had stopped selling gold coins. The “Bugs” were convinced that this was the signal they had long awaited that the US government’s manipulation of the gold market was finally proven. They were convinced that there is less gold in the government’s coffers than is reported, and that the Mint’s decision to stop coin sales is the first clear reflection of that shortage.
However, the Mint has dashed those hopes noting that there is something far more prosaic at work here than evidence of market manipulation: the Mint has suspended gold coin sales because they’ve run out of the “blanks” needed to forge the coins. Literally, the stamping tools needed by the Mint are in short supply. According to the Mint’s statement
Because our vendors are not able to supply enough one-ounce gold bullion blanks to meet the unprecedented demand we are experiencing, the United States Mint notified our authorised purchasers on August 14, 2008, that we must temporarily suspend sales of the 2008 American Eagle One-Ounce Coin. However, one-half ounce, one-quarter ounce, and one-tenth ounce 22-Karat American Eagle Gold Bullion coins are still available to authorised purchasers and are in stock at the United States Mint. In addition, one-ounce American Buffalo 24-karat gold bullion coins are still available… and are in stock at the United States Mint.
The Mint said that simply that the suspension is due “to a shortage of blanks from its suppliers.” The “Bugs” were convinced… truly and utterly convinced… that there has been a fully fledged conspiracy regarding the insufficiency of gold in the US government’s coffers, made evident by the shortage of coins for sale. We find the conspiratorialists to be, shall we say,… well, they are conspiratorialists, convinced that some evil cabal manipulates gold at every turn. We think the government has more important things to be concerned with than testing the Gold Bugs. There are wars, and rumours of wars, and famines, and global cooling, and the like. Gold’s problems are a gnat in the government’s eye. So, we found it nearly comical that the US Mint said that the shortage was due to a shortage of blanks needed to mint the gold it has ready for coinage; there is no shortage of gold; there is a shortage of the minting devices as the public rushes to own gold coins. How prosaic… how mundane… how utterly unimportant is that? Were it not so prosaic it would be comical.
END
Cheers
Guess where it’s headed now, Louisiania…as far..De je vous, almost aniversary of Katrina.
Yes Irish, I ground all fishing diving expeditions for the week. And no tennis balls in the shocks, you’ll go airborne.
McCain and Obama miss filing deadline in Texas
August 27th, 2008 by Jason Pye
Richard Winger’s Ballot Access News reports that Democrats and Republicans have missed the August 26th deadline to place a presidential candidate on the ballot in Texas. According to the Texas Secretary of State website, Bob Barr and Wayne Allyn Root are the only candidates for president and vice-president that will appear on the ballot in the Lone Star State.
Winger writes:
Section 192.031 of the Texas election code says that political parties must certify their presidential and vice-presidential candidates for the November ballot no later than 70 days before the general election. It says, “A political party is entitled to have the names of its nominees for president and vice-president placed on the ballot if before 5 p.m. of the 70th day before presidential election day, the party’s state chair signs and delivers to the secretary of state a written certification of the name’s of the party’s nominees for president and vice-president.”
[…]
At 2:30 pm Texas time, August 27, Kim Kizer of the Texas Secretary of State’s elections division says neither major party’s certification has been received in the Elections Division. The Executive Office of the Secretary of State refers all questions back to the Elections Division.
This year, neither the Democratic Party nor the Republican Party obeyed this law.
In a press release sent from Bob Barr 2008, Russ Verney said, “Unless the state of Texas violates their own election laws, Congressman Barr will be the only presidential candidate on the ballot,” adding that “Texas law makes no exceptions for missing deadlines.”
Mexico Mike on the latest DG flap…
Hi Bill!
Great commentary as usual today on the Cafe. I am somewhat amused at the rhetoric coming from Dennis Gartman lately about gold and his characterisation of the goldbugs as conspiratorialists, like we are irrational and in denial of the real circumstances of the precious metals markets. Memo to DG: the goldbugs have been the only ones to call the gold bull market correctly for the last 7 years or so. All of the fluff and nonsense that has passed as commentary from other sources has been debunked along the way, as gold surpassed the old highs. How many times have we been told that a top was in for gold? Get to the back of the bus DG, you have not contributed to the body of knowledge in the sector with your pontificating from on high.
I was on hand at the GATA reception in Vancouver in 2006 and listened to the debate between Chris Powell and DG regarding the US dollar, gold, and the exposure to derivatives. DG repeatedly claimed that the dollar was not a problem until it was a problem, or something to that effect. Well, as we all know, the dollar problem has turned out to be a real problem, and the financial crisis that is unfolding as we speak will no doubt make that an even bigger problem. How bold and brazen for him to now suggest that it is prudent to be on the sidelines while gold works through an inevitable correction, and the US dollar is completing a counter-trend rally that looks to be extremely overbought and long in the tooth.
I expect that DG is going to find himself in that uncomfortable position of having to either resume a bullish stance on gold, or to eat crow and digest losses if he makes good on his suggestion of selling the next rally. Nonetheless, it remains that he, like most others, has completely failed to discuss that much of what the ‘conspiratoralists’ have been saying for the last few years has been accurate. I would hate to nominate DG as a candidate for moron of the year, but his willingness to play the smartest-man-in-the-room may blow up on him like some of the trades he has been bragging about in the past.
I find it equally obnoxious that some people claim gold must go lower because there is so much demand to buy the dips. The fact is that almost no one is giving gold any chance at all. There is a shockingly bearish bias to the commentary for the entire sector. To me, that is as bullish as it gets. I always fade the herd, and right now the herd is definitely expecting the dollar to rebound well into the future, and that commodities are sure to sell lower. Given the strong fundamentals that remain in effect, my outlook is for a recovery off these lows that will astonish all but the most committed goldbugs. Historically, gold has always made the biggest moves when the majority of the market participants were leaning the other way. We may not have to endure the ridicule much longer and I expect to laugh all the way to the bank.
cheers!
MexicoMike
More huge Indian premiums
Indian ex-duty premiums: AM $7.51, PM $5.77, with world gold at $827.70 and $834.05. Once again, very high: far above the legal import point. The stock market lost 1.28%, but the Reserve Bank reportedly intervened to support the rupee. It closed at $1 =R43.71 versus R43.84 on Friday.
India is clearly an extraordinarily eager importer of gold at present. Reuters carries another confirming story today:
“Demand has been phenomenally high. It has been around 20 days since demand revived,” said Mayank Khemka, managing director of Khemka International Pvt Ltd, a New Delhi-based trader…Reflecting gold’s popularity, supply shortages have persisted in India with premiums up to $6 an ounce and delays in deliveries of up to a week, dealers said.”
See: in.reuters.com/article/businessNews/idINIndia-35193720080827?pageNumber=1&virtualBrandChannel=0
I am beginning to put my thoughts together for my debate with Tim Wood in Las Vegas in two weeks. Those who are leery of what GATA has to say, usually ask for immediate proof, to be answered in a quick sound bite, or ask for an admission (quote) by General Paulson that the US manages the price of gold. Although, I swear, even that would not do for some of the skeptics. You know the ole line, “There are none so blind as those who will not see.”
To really comprehend the manipulation, and the extent of the managing, you need to look at the big picture and the collective bits of evidence of the price suppression scheme. In the United States someone can be put to death in a capital crime case, like pre-meditated murder, if the circumstantial evidence is so overwhelmingly compelling that a jury can come to no other conclusion than guilty behind a reasonable doubt.
Sure, GATA has its smoking guns, a number of them, but it is the massive amount of indicting evidence, accumulated for 9 ½ years which proves our case. The trick in the debate will be presenting the most egregious examples of the manipulation and tying them together in a short period of time.
For example, and only the TIP of the iceberg … The US reports to have 8,133.5 tonnes of gold reserves. Since arriving at that amount MANY years ago, the US Fed and Treasury say none of it has been mobilized (sold, leased or swapped). Then why…
*Did the Fed redact hundreds of pages sent to GATA following our FOIA request regarding US gold swamps … and refuse to send hundreds of other pages? If the gold is just sitting there, what is there to hold back?
*Did the US Treasury respond to possible Exchange Stabilization Fund activity with a response to GATA referring to the “Exchange Stability Fund”? Huh? Are they that lame? Years earlier the Fed’s attorney, Virgil Mattingly, said the Fed Minutes were “garbled” when asked about the meaning of the term gold swaps by Kentucky Senator Jim Bunning? Can’t these people walk and chew gum at the same time.
*Did the US Treasury change the classification of US gold reserves so many times? … After the GATA camp publicized The Treasury Department changed the designation of nearly 1,700 tonnes of inventoried gold at the U.S. Mint’s facility in West Point, N.Y., which is approximately 21 percent of the total U.S. gold reserve, from ‘Gold Bullion Reserve’ to ‘Custodial Gold.’
Now what does Custodial Gold mean to you? This is what it meant to James Turk:
“This description provides clear evidence that the US Gold Reserve is in play. Gold has been removed from US Treasury vaults and placed on deposit, presumably in the couple of bullion banks the Treasury has selected to assist with its gold price capping efforts.
Gold placed on deposit gets loaned out by these bullion banks, and then sold into the spot market to try capping the gold price. The same thing happens with swaps, but the vague language in the note to the Treasury reports makes it uncertain whether they are in fact being used at the moment.”
After GATA raised a stink about the name reclassification, etc., the Treasury reclassified all US Gold Reserves as ‘Deep Storage Gold’. Now what does Deep Storage mean to you?
Now here is where it gets even juicier. Two years ago the IMF asked all of its member banks to adequately report their true gold reserve status … meaning tell the truth about what gold is in the vaults and what gold is not there via swaps and gold leasing operations.
Last May the US Treasury went half way in that regard. James Turk reported on what they did:
“Note the additional description of gold provided in the new reporting format. It says the US Gold Reserve is 261.499 million ounces and importantly, that the gold is now reported “including gold deposits and, if appropriate, gold swapped.”
“This description provides clear evidence that the US Gold Reserve is in play. Gold has been removed from US Treasury vaults and placed on deposit, presumably in the couple of bullion banks the Treasury has selected to assist with its gold price capping efforts.”
Now why did the Treasury even bother to change the nomenclature of US gold reserves if it is all just sitting there like they claim?
The Fed and Treasury refuse to answer to the whys of any of this. Maybe Tim Wood will able to furnish some reasoned answers.
Meanwhile, the IMF has gone silent about its request to its member banks about accurately reporting their gold reserves.
Gold demand input from a Café member, which corroborates the info we are receiving in Gold Goodies…
“Just a note, a close source has told me Gold Vault at a major London bank has been shipping a lot of Gold to Turkey, with a comment from the person who said some of it might be headed for Iran? But, he said the amount of Gold being shipped out is unusually high.”
Adrian on…
The US Mint Gold Shortage
Bill,
I have been thinking further about the shortage of gold blanks for the Eagle program. We know that the US Government used up its last vestiges of silver from the Strategic Silver stockpile a few years ago and are now forced to buy silver on the market so the shortage of silver for silver Eagles that came to light earlier this year revealed there is a shortage of silver in the market. On the gold side the Mint is supposed to have “working stock” of gold of approx 2.7 million ozs. In theory even if gold is in short supply in the market they should be supplying their gold to some blank manufacturer for them to convert it into blanks. While the US Mint has gold there should be no shortage of blanks. So this begs the question about what is the true status of the US Mint gold and by implication the US Treasury gold. We know from James Turk’s work that Treasury gold is being used in swap operations, we also know that something fishy has been going on with the US Mint gold because they reclassified their gold from “custodial” to “deep storage” and “working stock”. One has to wonder why there are no blanks if the US Mint has the gold…which leads me to the possibility that they don’t. Or if they do they don’t want to part with it anymore in unlimited quantities.
Cheers
Adrian
Give me a break… please. When did your dollars buy more olive oil, soap, corn, toast, etc.?
“he who has eyes, let him see, He who has ears let him hear”
My appologies to the BIBLE.
Minefinders Corp. (MFN) has a huge mine south of the border, the Dolores mine. It’s selling at $8. It’s preposterous to see that kind of value. But you do have to be mindful because if stock prices fall or there’s another intense leg in the credit crisis, it may just scare investors back from doing anything. That’s not to say that somewhere in here we might not see these stocks turn around and begin to just scream off the charts and move straight up. One of these days all of these stocks will be off to the races and that, I think, will be a mania. I think it will make the Internet move that we saw in 2000 look pale because it will be driven by fear.
http://seekingalpha.com/article/92863-frank-barbera-precious-metals-heading-to-all-time-highs
….Every one of these poll has a surprise….so many Bright minds here and Look how many say they dont have a clue what will happen to the SMs and PMs the day the Govt officially bails out Freaky and Fraudy..
…..I bet both would go up….The Inflation trade is on again…
……Anyhooo……we will probably see soon !….
…any new Ideas for polls
…I favor % of PM PF in Juniors ….
