Loading ...Ahhhh, don’t let Mo’s tuff guy exterior fool ya …he knows having a wild Irishman crawling into bed with him is a hell of a lot better than canoodling with a slithering snake..
Wish I was there but heck who knows, some wayward cannuckian might still show up on your doorstep ..Just tell Mr DingDong he won’t like me anymore when I get ticked.. Think pitbull with lipstick 
More troops coming your way still mid november ..I’m on standby for the silver bullet.
I am one of those guys that is always thinking and wond’ring. I have a whole lot more questions than answers. And when I think I have an answer I usually find out I’m wrong. The one thing I know for sure is that the thing that I do know for sure is the thing that is usually wrong!!! HA
Thanks. Sure does keep us thinking, …..and wondering.
“What will YOU do when you can sell YOUR gold for $2,000 over the SPOT price of $500?”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The crimex will be long gone before the spread between spot and retail ever gets to that extreme. The only way that could happen imo is if the guv were to confiscate, have an official price, and have a black market (illegal) price.
the lady in hong kong who ran the painting operation was mary sue. she is well known throughout the seventh fleet. we traded her all the 40mm and machine gun brass we had accumulated. i didn’t know at the time why the senior gunners mates insisted we save every piece of brass. i wanted to just throw it over the side. we even saved the ammo cans for her. we had just been through tet in saigon and we had plenty of brass.
we had so much brass that the officers and senior enlisted got cases of liquor. you can imagine how much the peons got. it was shortly after that the junior enlisted personnel learned how to steal pallets of beer and soda and get by with it.
promised my wife i would take her to hong kong someday. guess i better start making plans since i aint getting any younger.
rno
I’m looking for comments from anyone regarding my previous post. ie: coin shows, premiums, shortages, feelings, etc.
Mahalo, and Aloha, Oahugold
Paying the current premium on gold purchases might not seem unreasonable to many here on the forum, but consider the normal investor.
If confiscation is not a reasonable consideration for the government, how about discouraging purchase by pricing gold out of a reasonable range, and ENCOURAGING owners of gold to consider letting loose of it at a perceived premium?
Take a look. What will YOU do when you can sell YOUR gold for $2,000 over the SPOT price of $500? Confiscation may never need to be a government consideration if they can control the market in this manner.
how you doing buddy? did you get your skype running yet? best. wj
Good eyes brother …I am glad our fellow silver bug D.Morgan found out what I felt the other day…. soooon someone would admit or find out about the collapse of the silver production DEFAULT HERE WE COME!
I went to Oahu’s biggest coin show yesterday. It will run all weekend. One dealer had seven krug.s and he wanted $850. There were also gold panda’s at two other tables selling for $850. One of those tables was the panda distributor. I saw several tubes of silver eagles around $18 I think. Silver rounds were around $15-17. My friend (local guy) had a buffalo for $825. Slabbed and graded at ms69 for whatever thats worth. I picked up a maple leaf for $810. Ordinarily I would feel thats a good deal, but to pay $90 over spot felt really weird. The economy is in bad shape here- tourism way down and getting worse by the day, construction is way way down. I’ve been out of work for 4 months and things look pretty grim. I guess my faith is being tested on whether buying more gold is the right thing to do. I considered my self a true believer in gold and silver but I feel like a fool holding these mining stocks and watching them crash right through my purchase price, some were bought years ago. And listening to these writers proclaim that mining stocks are the way to go to increase wealth and leverage to the underlying metals. In hindsight I realize that a stock is a stock and one must protect ones capital. Now I’m relying, hoping, and praying that gold and silver will go back up just so I can recoup some of what I lost. If the nations economy continues to get worse- who will be buying silver and gold at any price? Let alone $1000 or more. Any way, for now I’m keeping the faith and like I said I even bought more-only physical for now. Also at the show I picked up a nice indian head $10 coin, 1909 I think, for $488. Who knows if it was smart or dumb but I liked it. Also at the show, every table had a sign “buying gold and silver”, I know they all buy and sell but this year was the first year I saw so many of those signs. I know yesterday was Friday but the show had hardly any customers. I’m going back this morning to check it out and see how busy it is. We’ve been hearing things like “there’s no product” “the shelves are bare” “I had to wait three weeks”. Well, it seems there is small amounts available if you’re willing to pay the premium. As an average customer the metal will have to rise quite a bit just so you can break even!! The dealers will only buy for spot or maybe a little over if they can flip it right away.
Well, I think this is my longest post ever, thank you tenters for being here. I read every day, alot of days I check in several times a day. We know the big banks and government are out to screw the little guy, so I buy gold-maybe just to be defiant. I hope someday it all works out for us gold bugs.
Aloha, Oahugold
You know company loyalty and all that rot…..well it has gotten totally out of control down here…Mo Bax and I stayed up untill 3 am writing letters and plotting our survival down here…I was so tired I sleepwalked into his bedroom and laid down next to him last night ahgggggrrrr whoooo not a pretty sight……
yep sure looks it. thats irish on the left….you know the one wearing lipstick….
bwahahahahaha! 
wj
compiling a list of mining stocks, and more specifically PM-related stocks, whose market capitalization is now less than their cash reserves, with the idea that a mining stock priced under cash (PUC) may be worth looking at as an investment.
Two things have happened since 30 October to make me think that this is a not a very meaningful or defensible exercise in stock selection. One was the Goldtent posting by redneckokie 1 at 21:36 on 31 October, in which he pointed out the accounting difficulties to uncover what is really going on inside a company financially. I assume this caution applies especially to day-to-day management of cash within any particular company.
Secondly, I took seriously a comment this morning from Victor Adair on the MoneyTalks radio show when he was talking about this very question of whether companies with their market capitalization now lower than their current cash reserves were a good buy? He pointed out that some companies are in the business of burning up cash quickly, particularly companies that have no production and no cash coming in yet from sales. Mr. Adair did not refer specifically to mining companies, but in my opinion his caution applies especially to mining companies that are in the exploration, feasibility study, or development stage of their life cycle.
In view of the above, I think it is pointless to continue in any formal way the “PUC” idea brought up on 30 October. To me it seems preferable for each individual investor to do their own research on this question, instead of compiling a list of stocks that “look like” they are currently priced under their cash reserves. Best wishes. Equiz.
Silver Production Falls by 70%?
October 31, 2008
This headline should grab anyone’s attention, especially those interested in the silver market. Before going forward, let me explain that fully 70% of silver is produced as a result of mining other metals, mostly base metals. Copper mining, for example, is responsible for 28% of the silver mined in 2007. Lead/Zinc mining yielded 32% of the silver mined in 2007. Finally, gold mining brought about 10% of the silver mined, again in 2007. All data is from GFMS World Silver Survey 2008, page 31.
The point is, with the current low prices for all of the base metals, many companies that produce them are slowing, closing, or stopping projects. The result is obvious: the overall production of silver from base metal and even gold mining is going to be reduced because of current economic conditions. Will this bring down silver production by the 70% mentioned in my “yellow journalism” headline? Of course not, but my headline builds awareness that a slowdown in global mining activity is not necessarily going to flood the market with silver; quite the contrary, slowing mining activity slows the amount of silver produced.
As far as primary silver producers are concerned, some will be unprofitable at these levels, and all will be looking to find as much high-grade ore as possible, to stay as close to profitable as can be expected. Some marginal projects will be shelved and some projects may be forced to close if prices remain in the doldrums.
The overall mining equities have been completely devastated, as all of us in this sector know, and the prices of these stocks have dropped to levels that few can believe. The earnings of these companies will of course be falling as well, due to the fall in their respective products.
As of the week ending October 24, 2008, the year-to-date results are as follows:
Copper -44%
Zinc -54%
Lead -55%
Silver -37%
Gold -12%
XAU -59%
HUI -59%
Across the board, both the metals and mining shares have been blasted. The base metals fare worse than both silver and gold, and the basket of precious metals stocks (as per the XAU and HUI) are doing worse than any metal cited. Again, we find silver at this point in time being not as precious as gold, but more precious than its base metal cousins.
There is some encouragement, as the past few days in the metals markets have shown some strength as interest rates were cut on the U.S. dollar. The gold/silver ratio has backed off from being over 85 recently to 77. Perhaps the worst is over, perhaps not.
I could not help looking further into the GFMS Survey since pulling it off the shelf for this week’s article, and found the following.
For those who are historically inclined, the GFMS World Silver Survey 2008, page 58, discusses the main uses of silver. Under the classification of coins we find,
“Historically, silver was more widely used in coinage than gold, being in greater supply and of less value, thus being practical for everyday payments. Most nations were on a silver standard until the late 19th century with silver coin forming the main circulating currency. But after the gold rushes, the silver standard increasingly gave way to gold. Silver was gradually phased out of regular coinage . . . .”
Yes, silver coinage stopped in 1965, the U.S. closed the gold window in 1971, and here we are today looking at a financial system that has certainly lost its way.
