Oldtent Archives 2007 - 2008

there is a reversal at 2011 for two yrs. then something very very drastic is to happen to the market thus economy, looks like if things are bad now they are going to get far worse to put it mildly, if this chart is accurate.

compairing these charts the seem to correspond pretty well unti..after the 2011 reversal

  Don’t you think the premiums will stay high as long as demand outstrips supply?  as opposed to a default on Comex?

Added to my XCL and ECU positions today. Fingers crossed.

www.bloomberg.com/apps/news?pid=20601086&sid=aCiKn0uXppU0&refer=latin_america

Does anyone know if the FED has ever lent money to foreign countries before like they did today?

http://tinyurl.com/6p2kcs

I am not borrowing any money until they pay me at least 10% interest!  Those are my

Dollar fell from 88 to 83 in a couple days…..now comming back to 85

The Forex is trading like Penney Stocks.big % moves by the hour !

Le Metropole Members,

Fed official can see interest rates close to zero

Submitted by cpowell on 02:59PM ET Thursday, October 30, 2008. Section: Daily Dispatches
By Vivien Lou Chen
Bloomberg News
Thursday, October 30, 2008

www.bloomberg.com/apps/news?pid=20601087&sid=a.VDZUEW6e2M&refer=home

SAN FRANCISCO — Federal Reserve Bank of San Francisco President Janet Yellen said the central bank may cut the benchmark interest rate close to zero percent from the current 1 percent level should the economy remain weak.

“We would do it because we are concerned about weakness in the economy,” Yellen said today after a speech, responding to an audience question about the impact on the economy should the Fed reduce the main rate to as low as zero. “I think we could, potentially, go a little bit lower than” 1 percent, she said in Berkeley, California.

Recent data on the U.S. economy is “deeply worrisome” and the government should consider new ways to help homeowners and stem foreclosures, Yellen said in the speech.

The central bank cut the benchmark interest rate yesterday for the sixth time this year, seeking to avert what may be the worst recession in a quarter century. U.S. consumer confidence fell this month to a record low and the government reported today that the economy shrank at a 0.3 percent annual pace in the third quarter for its biggest decline since 2001.

“Clearly, we have a long way to go before the credit crunch shows significant healing,” she said. “We are in the grip of an adverse feedback loop,” in which tighter credit conditions are exacerbating economic weakness.

In the current quarter “it appears likely that the economy is contracting significantly” and “inflation risks have diminished greatly,” she said.

Yellen is the first Fed official to speak since the decision by the central bank to reduce the main rate by half a percentage point to 1 percent, matching a half-century low. Fed Chairman Ben S. Bernanke is set to speak, via satellite, to the same group tomorrow.

“The reason to lower rates, and to lower them promptly and aggressively, as I think the Fed has done, is to get ahead of the curve” and support the economy “against the kind of weakness that Japan has experienced for over a decade,” she said in response to an audience question.

The Conference Board’s confidence index decreased in October to 38, the lowest reading since monthly records began in 1967, the New York-based research group said two days ago.

“The effects of the growing credit crunch have outpaced the easing of policy, and, indeed, every major sector in the economy has been adversely affected by it,” Yellen said.

Home prices in 20 U.S. cities fell 16.6 percent in August from a year earlier, and have dropped every month since January 2007, the S&P/Case-Shiller home-price index also showed this week.

“Unfortunately, this is another case where the bottom is not yet in sight,” Yellen said of home prices, adding that “direct assistance to homeowners and the housing market are worthy of serious consideration.”

With the dollar appreciating against other currencies, “exports will not provide as much of an impetus to growth as they did earlier in the year,” the bank president said.

Yellen, who has been the San Francisco Fed’s president since June 2004, is a former Fed governor and ex-chairman of President Bill Clinton’s Council of Economic Advisers. She votes on rates again next year.

* * *

I am looking at the market like someone who has no vested interest would look at it. The metals are no a religion. The premiums are out of whack. If we have no default the premiums will most certainly shrink. Time will tell. I am not a seller at these levels. If I were predisposed to sell I would have been out on the break of 15 bucks US. I am holding out for higher levels.

.Thank You !

your silver ……..I’ll take 10,000 worth off your hands right now .deal or no deal !

1 ounce Maple’s only !

www.monex.com/prods/silver_maple.html

I’ll pay you 3 times the Face Value

or….these

www.monex.com/prods/silver_eagle.html

I’ll pay you 16 times Face Value for those babies..

you must have too many since you dont appreciate their premium…why not sell them ?

Cash is King .right ?