Oldtent Archives 2007 - 2008

for those of you who may not fully understand the concept of velocity of fiat and fiscal policy, you are about to find out soon. the bailout of the banks will be terminated shortly. the bailout fiat will go to those who will circulate it immediately. (see definition of handout)

this scenario reminds me of a post turtle. two rednecks were going down a road drinking beer and engaging in other redneck pastimes when they noticed a turtle sitting on top of a fencepost. the elder redneck noticed a puzzled look on junior and said. “smatter witch you. ain’t you never seen a post turtle?” junior admitted that was the first. the elder redneck explained, “he don’t belong there, someone put him there, he don’t know what to do there, someone is going to have to take care of him while he’s there, and when something goes wrong he better not land flat on his back.”

time to put the finishing touches on the pm purchases. maybe my short bonds will give me some relief now.

rno

Time for the POG to make a run  back over 1000 dollars. 

www.youtube.com/watch?v=Rp6-wG5LLqE&feature=related

The USA has a new President.  It looks like this one is  intelligent. I think he’ll give it a real good go.  It’s a hard job.

McCain is making a great speech.  Good on him.

 Is over.  The new Sheriff is in town.

They are predicting Obama will win Waiting for Alsaka which Mc Cain is ahead, and many too close to call yet.

I know Ill invest in lumbar, this printing press will create a shortage of trees. So much for stopping deforestation.

I hope it’s gonna be great for gold, gonna be bad for oil, buisnesses, national security, …yikes where my bunker.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.

doesn’t like what it sees in 09. going south in a hurry. contract has huge open interest and no delivery. very hard to manipulate. trades similar to the libor contract.

rno

Go to www.jsmineset.com

scrool down to picture of money, click on picture for interview. Very good! Deadeye

….a Religion even…….

The only solution they know for anything (like Republicans) is to throw money at the problem and buy votes to keep themselves in office. Where does most of the money have to come from? Create it out of thin air. Terrible for the country but GREAT for Gold! Deadeye

11:13 AM EDT on Wednesday, May 28, 2008

Here’s the full list of stores facing problems and closing according to AOL Money and Finance:

Linens ‘N’ Things – closing 120 of 589 stores. Filed for chapter 11 bankruptcy protection in May.

Disney Stores – closing 98

Foot Locker – closing 140 of the 3,785 stores in addition to the 274 stores it closed last year.

Wilson’s Leather – closing 160 stores.

Home Depot – closing 15 stores.

Ann Taylor – closing 117 stores.

PacSun ‘Demo’ Stores – closing 154 stores in addition to the 74 stores it closed last May.

Lonestar Steakhouse – closing 27 locations.

Zales – closing 105 stores. Will have 2,145 locations open.

Pier 1 Imports – closing 25 stores. Closed 79 in 2007.

Friedman’s Jewelers – closing 120. Closing stores and laying off employees as it goes through bankruptcy proceedings.

Dell – closing 140 stores.

84 Lumber – closing 140 stores. Directly impacting by the nation’s housing market. Closed 12 stores in December.

Sharper Image – closing 90 stores. Filed for bankruptcy protection.

Pep Boys – closed 31 stores in November.

Ethan Allen – closing 12 of 300+ stores.

Rite Aid – closing 28 stores.

Sprint/Nextel Corp – closing 125 stores.

Movie Gallery – closing 400 of 3,500 stores.

Saks – closing 1 store.

CompUSA – 103 stores will be shut down or sold.

Kirkland’s – closing 30 to 130 stores.

Fashion Bug, Lane Bryant and Catherine’s – closing 150 stores.