Oldtent Archives 2007 - 2008

 RML.V ended finishing down $.01 on 20 x’s avg. volume

 Must be a gold stock LOL

RE:  Obama Birth Certificate

Jeez… I thought we put that one to rest already.  It’s posted here at Goldtent.

Use the search function at the right and key in “Obama birth”.  You will find an image of his birth certificate that the campaign posted on their website… and discussions of the Hawaii State Law that prohibits the State from releasing a birth certificate to anyone but immediate family.

would you please take a look at the Loonie (Canadian $) and past on your thoughts, would be greatly appreciatted! love your RPW post.

My little business would attract maybe 2 enquiries a week avg. with a 50% sign-up conversion rate.  Last enquiry was 2 weeks ago…..yikes!

Working with Adobe Dreamweaver modifying my Web site at the moment - hopefully an omen?

(just chattering away on a quiet night on the Tent)

the a$ and nz$ both had 5 point rpw’s and both got stopped out and completed second attempt. that trade is about 87% successful.

rno

I just rang my coin dealer to find out how long it is to wait for delivery.  4 months now.  They are hectic.  If you wish to buy, they are selling 1 - 4 oz at 7%  over the spot price.  Larger quantities the %  decreases.

I want to go to Europe early next year.

The exporters can look after themselves…….I’m not selfish!!

Nov. 7 (Bloomberg) — Japan will benefit from a strong yen because it will hold down prices for raw materials, said Eisuke Sakakibara, formerly Japan’s top currency official.

“I still believe a strong yen is in the national interest of Japan, particularly in this situation when raw material prices will increase,” Sakakibara said in an interview with Bloomberg Television in Singapore yesterday. The yen may rise to as high as 80 per dollar as so-called carry trades unwind, said Sakakibara, who was dubbed “Mr. Yen” during his 1997-1999 tenure at the Finance Ministry because of his influence over currency markets.

The yen’s 15 percent gain against the dollar this year and 33 percent advance versus the euro prompted Japan’s government to announce last month it may buy or sell currencies to influence exchange rates, as the world’s second-largest economy stumbled. Gross domestic product shrank by an annualized 3 percent in the second quarter as exports dropped 2.5 percent, according to government data.

The yen traded at 97.30 per dollar at 8:55 a.m. in Tokyo from 97.75 late yesterday. It was quoted at 123.56 per euro from 124.29. Against the Australian dollar, the yen is 64.68 from 66.35. It was at 56.88 versus the New Zealand dollar from 58.53.

Japanese exporters are competitive even if the yen rises to between 80 and 85 per U.S. dollar, Sakakibara said.

“You have to differentiate between balance sheet and competitiveness,” he said. “On the balance sheet, a high yen will cut into their profits but as far as competitiveness is concerned, they are competing quite well with Ford or General Motors.”

Carry Trade Unwinding

The yen surged since August, as the global credit crunch tipped the world toward recession, shattering investor confidence and prompting money managers to pull out of carry trades.

In such trades, investors get funds in a country with low borrowing costs and invest in another with higher interest rates, earning the spread between the two. The risk is that currency market moves can erase those profits. The Bank of Japan’s benchmark rate of 0.3 percent compares with 1 percent in the U.S., 3.25 percent in Europe, 5.25 percent in Australia and 6.5 percent in New Zealand.

“The unwinding of yen carry trade will probably continue and they will probably overshoot, and the yen going to 80 to the dollar is possible,” Sakakibara said. “We also must note that the Bank of Japan may intervene when it breaks 90. I don’t know if it will be successful. It may be effective in the short term but in the longer term, we have to see.”

Rate Cuts

The Bank of Japan’s decision last week to cut the benchmark policy rate by 20 basis points, or 0.2 percentage point, was surprising, Sakakibara said.

“Probably they didn’t want to cut and the market was expecting 25 basis points,” he said. “So cutting by 20 basis points was probably due to resistance to market pressure and political pressure.”

The rate cut wasn’t aimed at weakening the yen, he said, calling the reduction a “symbolic move.”

Sakakibara also doubts the Bank of Japan or the U.S. Federal Reserve will reduce benchmark policy rates to zero.

“No chance,” he said. “Cutting interest rates by another 30 basis points doesn’t matter. Zero interest rate policy is something no central bank wants to do as that implies that the short-term money market doesn’t function.”

The Fed may cut its benchmark policy rate by a further 25 or 50 basis points at the most, he said.

Sakakibara, 67, currently a professor at Tokyo’s Waseda University, is a member of the Asia-Pacific advisory board of Bloomberg LP, the parent of Bloomberg News.

are in good support and low risk buying areas. expect a good bounce here and maybe a little usd weakness.

rno

In case you missed it, just wanted to draw to your attention  that at 8:14 on jsmineset today  Mr. Sinclair said  that   “The  inlation/deflation/recession/depression argument fell on its ass in the 70s and will do so again.”.  This kind of fits with the drop-off in postings we have had on Goldtent on the circular debate that took place during the warmer months on the topic of  inflation versus deflation.   Best wishes.  Equiz.

CARTEL CAPITULATION WATCH

After yesterday’s close, bellwether Cisco reported flat earnings and forecast that Q2 sales could decline 10%, causing the DOG futures to falter badly after yesterday’s close. That set the tone for today’s 73 point DOG fall to 1609.

The DOW fell apart for the second day in a row and for VERY good reasons. It dropped another 443 to 8696.
Amazing, 9 out of 10 market savants trotted out on the CNBC Muppet Show continue to talk of a stock market bottom and buying opportunites.

The US simply cannot afford to bail out the financial industry, the real estate market, the auto industry, the insurance industry, pension funds, and so on and so on. It’s just TOO MUCH. Even The Muppets on Planet Wall Street must come to grips with this nightmare in the near future.

The stock market action could not be worse, going into a horrendous jobs announcement tomorrow (As presented here for years now, I can’t think of a time when gold rallied around a negative announcement). It is conceivable we could go into a Friday/Monday market PANIC!

GATA arch villain, Goldman “Hannibal Lecter” Sachs, is getting a taste of its own medicine. How long before they become the next Bear Stearns, leaving GATA searching for its successor? GS ($81.89 down $7.92):

www.stockwatch.com/swnet/utilit/utilit_snapsh_result.aspx

It is only a matter of time before my old football opponent (Cornell versus Dartmouth) becomes vilified … for he was the one who went before Congress (while with Goldman Sachs) urging them to allow investment banks to use 40 to 1 leverage.

Years later his request was granted. Nice going Hank. Now you’re doing what you can to bail out your own mess and taking our country down financially in the process.

PSS when the crimex blows up, as long as we can keep buying, time is on our side.

Last know price for bulliondirect shipping..and handling was about 20 total but goes on weight.

Thanks, anything to help another gold bug, esp. if he is a tenter. Shipping prices on bullion direct is little steep but can buy a quanity lowering total for bullion..delayed now..it is still good price compared to elsewhere.Mintproducts only starts a 5 dollars shipping aprox. and comes signature certified.

Up 13%……..against the grain !

….When Drills generate exitement……..its Junior Time…

….warching for more of this action…..too early yet !

Gammon Gold drills three m of 7.15 g/t Au at Guadalupe