Loading ...Silver is beyond farce. There is no way to analyze a market in which the price keeps going down, or nowhere, yet you CAN’T buy it. I mean how absurd can you get?
One day the price will blow up, double overnight, and that is why we stay with this joke.
Here is Obama on the gold standard (a short while ago):
CHESAPEAKE, Virginia (Reuters) - U.S. presidential candidate Barack Obama said on Thursday that high budget deficits were weighing on the value of the dollar because they must be financed through borrowing from overseas.
Obama was asked at a town-hall meeting in Virginia if he thought the United States should return to the gold standard, given that the weak dollar is exacerbating the rise in oil prices.
The Democratic White House hopeful said he did not think a return to the gold standard was a good idea and noted that the U.S. currency was strong in the 1990s, even though there was no gold standard. Obama blamed the U.S. currency’s decline on President George W. Bush’s fiscal policies.
“When George Bush came into office we had surpluses as far as the eye could see. Now, we’ve got what looks like a half-a-trillion dollar deficit a year and we’ve added $5 trillion to the national debt,” Obama said. “That is contributing to the weakening dollar. It means that over time, we have to borrow money to finance what we’re doing.”
-END-
I was wondering when my buddy would look you up. Tell him not to sell the boat!!!! He put his heart and soul into that tub, and I know it.
You might know I’ve also got French blood running through my viens.
BTW, he’s a good guy. Sell him some gravel if its possible, or point him in the right direction. I told him you knew the Chairman.
Maybe I got to get to Belize and check out a few things for myself.
Winedoc
TOCOM
Good Evening:
On Thursday the seven once big TOCOM gold shorts (who were net short 226,018 contracts on February 9, 2006) reduced their net short position by 1,338 contracts to 5,651 contracts.
STDJ reduced their net short position (currently the largest on TOCOM) by 16 contracts to 7,013 contracts.
www.tocom.or.jp/souba/gold/torikumi.html
In silver they reduced their net long position by the equivalent of 0.50 contracts to 282 contracts (converted to the old 60kg deliverable).
www.tocom.or.jp/souba/silver/torikumi.html
Best wishes,
Scott
Bill,
In the November 6 session on the TOCOM Goldman Sachs COVERED 12 shorts contracts and BOUGHT 244 long contracts which brings their long position to 1,496 contracts and makes them net short 632 contracts. The gradual move toward a net long position speaks volumes of where one should be invested!
Cheers
Adrian
No gold here, no gold there…
Dear Bill,
Just to tell you that I just checked into the Spanish site orodirect at www.orodirect.es/ and found they essentially have no gold left. Other than that, what can I say about the increasingly horrible news greeting Mr Obama, were they saving them up for him? And the incredibly lame excuse for the DOW to go up. Enough to vomit.
Best,
Luis
Alex…
Dear Bill;
Where would gold be trading today if instead of 90 % of the time gold is pounded In either the London session and or the New York session.
I almost never see gold move higher into the New York Session close with the same Gusto its taken down ..
Where would gold be trading today if Gold was available at every Bank Branch in North America.. like it use to be. Not only can you not find 1 ounce in any bank in north America
You cant find it in the now centralized bullion banks. (ie Bank of Nova Scotia downtown Toronto)
Did you ever think you would see a day where banks don’t have gold, never mind “THE ” Bullion bank of a country have no gold or silver for sale. WHAT IS GOING ON??
Alex
Dear Bill,
I read all of your articles every one since I went to a GATA seminar several months ago and you and your members keep me going with the anecdotes and information. For what it’s worth I thought I’d pass this on. I live in an offshore jurisdiction and was talking this week over a few drinks with a very well connected broker. It seems the PPT will have another two shots at supply if my source is correct. He said, “A Mexican source is going to unload about 40 tons of silver, and the Middle East will sell several billion worth of gold”. I asked why they would do this and it seems that
both of the sources want cash! The prices they are going to take will be low because the middleman (in the USA) can handle the huge orders in one shot. They are pushing hard to conclude these transactions by the end of the month as the COMEX is desperate to get some supply. So ultimately we know their hands are out as the ultimate buyer. The last thing he said was that the middleman’s comment was that this will go so fast in the market it won’t make much difference. My thoughts are they might get out of this squeeze for December delivery but hopefully they have fired their last bullets. Let’s keep the faith and keep the physical!!
Best
David
Hmmm something smells rotten in the state of Berkshire. Looks like he decided to take some big chances and now it’s biting him in the as#.
Is nothing sacred? 
I have no insider info regarding Jim Sinclair or his possible ties to Carlyle. I’m just a passionate goldbug who despises the NWO and its agents, so when I saw the post (I believe it’s the same one you provided) I was shocked and severely pissed that JS would trust these people as supporters of gold. I urge you to read as much as you can about this private investment bank. Look at who is/was part of this group and what they invest in.
‘This is the company (or Carlyle acting for another group?) that is literally acquiring the world’s future gold production through contracts with mining companies. This is NOT a conspiracy, it’s not only legal, it’s Brilliant !’
It truly is brilliant for the PTB. I suspect it is this company that’s shorted all gold and silver mining shares to oblivion and indeed will buy up all the future gold production for pennies. However, these people are part of the PTB (or their agents). They will sell this gold to market and supress the gold price for decades to come.
George H. W. Bush is part of the Carlyle Group and has ties with Barrick Gold
I don’t know JS. I’ve never met the man. My apologies to him and his fans for my original post. I truly hope he’s on our side.
IMHO The Carlyle Group is not to be trusted as allies of ours.
Hey Ipso - riddle me this. Buffett said derivatives were weapons of mass financial destruction. How come Berkshire had $1.6 billion in derivative losses?
Equisteum - I agree with you and Uranium will likely rally with other commodities when they re-assert themselves.
Who knows how long it will take for TPTB to try something else!!!
http://www.axiomhouse.com/specials.htm
PM
junior uranium stocks and I simply ignore their charts because I expect uranium to be in fashion someday.
As to your conversation at 16:58 and 17:07, my current opinion is that junior uranium stock prices and their trading volumes will increase when hedge funds and other significant investors decide that it is time for these junior uraniums to advance. That decision, when it occurs, will have nothing to do with the fundamentals of these junior uranium companies at the particular time they start to move up.
From the paragraph above you can conclude that I think that uranium stocks are no different than oil or gold or silver stocks. I think that all such stocks will move up or down when the fund investors and other big investors (central banks? governments?) decide that it is now time for them to move up or down, regardless of what their charts are showing on this Friday afternoon, November 07, 2008.
Best wishes. Equiz.
It does not matter if the US has a gold standard. Gold is the standard in most of the world. At least you can still buy it even though you have to pay a premium to the paper market that everyone knows is fantasy. I suspect that the producers are holding back on production or sales looking for better prices. I know I would.
Berkshire Hathaway Profit Falls 77% to $1.06 Billion (Update2)
By Erik Holm and Linda Shen
Nov. 7 (Bloomberg) — Billionaire Warren Buffett’s Berkshire Hathaway Inc. posted a fourth straight profit drop, the longest streak of quarterly declines in at least 13 years, on falling returns at insurance businesses and investment losses.
Third-quarter net income decreased 77 percent to $1.06 billion, or $682 a share, from $4.55 billion, or $2,942, a year earlier, the Omaha, Nebraska-based company said today in a regulatory filing.
I just found out that hundreds many credit card purchases were denied for no good reason. I will let you know when things are resolved!!!
PM
Cool, that’s exactly my situation. Roth IRA and probably showing a loss on it. I’ll look into it a bit more. Thanks!
I was wondering, if the goobermint seizes the retirement accounts and puts it into gov paper then what happens to all the investments that those funds were in….like the stock market and bonds. A good portion of stocks are owned by retirement funds. Seems like it would sure blow up the SM.
In my case, it was a Roth IRA… after-tax contributions. At distribution, you are only taxed on the ‘gains’ above what you contributed. In my case, the value had fallen below what I contributed to it, so I am able to take that amount out tax- and penalty-free. I’m still researching whether I can claim a deduction on the loss… up to the contributions level.
I figured the paper market was going nowhere fast, and I could put the cash to much better use to grease the moving process… investing in myself. Oh, yeah, the ‘portfolio’ is a little heavier now, too. 