Oldtent Archives 2007 - 2008

Bill,
News items are coming at us at break neck speed it is almost like being a character it some video game. As a result the gravity and importance of some events go unnoticed.

Last week I reported on what a mega-bullish report the WGC Q3 Gold demand report was, which was scantily reported on by the media and it was only a reading of the report itself which showed how phenomenal gold demand growth has become.

I think the news from the Perth Mint also needs some extra examination and emphasis

www.theaustralian.news.com.au/business/story/0,28124,24687337-643,00.html

This news absolutely blew me away. This is one of the World’s biggest mints. They are working 24 hours a day and seven days a week and STILL they CAN NOT KEEP PACE WITH DEMAND!

We are in the grips of a world wide economic contraction (recession or depression you pick what descriptive you want). I don’t believe there is another sector of industry anywhere in the world that in the current climate can not meet demand for their product even working flat out (with perhaps the exception of bankruptcy lawyers!). But this is not the entire story. The Perth Mint is REFUSING ORDERS until January. What business today would turn down orders? Who would turn customers away? This means that they are hopelessly swamped with orders running so high it is multiples of their capacity and/or exceeding their ability to source gold bullion.

But they are not alone. We are seeing the same situation in all mints around the world. We are seeing all retail stocks completely sell out. With this back drop the COMEX spot price has been driven down 30%! This is a stealth bull market of epic proportions. The general public still can’t spell gold, yet the world retailers have almost completely sold out of stock and new stock is almost impossible to source. Mines are closing down and supply is declining at alarming rates. There is clearly a PANIC to buy precious metals and pent up demand is being frustrated by customers being turned away or told they will need to wait months. BUT then there is the COMEX supposedly sitting on 2.4 Mozs of “Registered” gold and 80 Moz of “registered” silver. This represents the ONLY visible significant stash of available above ground precious metals left in the world. And please, some one pinch me and slap me just to wake me up, THEY ARE SELLING IT AT A DISCOUNT TO THE PHYSICAL MARKET! Talk about a “sitting duck”. The COMEX is the Lusitania with no naval support sailing into waters infested with enemy submarines.

Markets typically have participants of opposing views otherwise there would be only buyers or only sellers. What is brewing in the precious metals markets is a situation where no fundamental case can be formulated for holding the short side at these price levels. This is what we have seen on TOCOM where over 30 months the big commercials who have traded the short side for decades have become neutral to net long. If there are no precious metals available in quantity and mine supply is diminishing who can justify taking the short side until prices have risen dramatically higher to attract some physical into the market? The last stand in the gold war is going to take place on the COMEX. Once it gets going and it is clear that they don’t have enough ammo the price will rise to incredible levels as no short sellers appear to take the other side of the contract. The age old threat of Central bank dishoarding will not work. There are coin melt bars circulating and the WAG quota isn’t being met suggesting they have reached the bottom of the barrel. The CB’s have no disposable gold left.

I don’t think we have much longer to wait. We are real close to the Gold Cartel’s Waterloo.
Cheers
Adrian

That ain’t no wedge …thats a Waterfall…how hard have you been sellin that stock……you you chart painter you. HAAAAAAAAAAAAAAAAAAAAAAAa

Rather a mischaracterization… the author is a bit more than a banker… and “lacks a even general knowledge of geology” is just browbeating BS.   Yes, such claims take a lot of evidence, but there is a place for attempts to see the forest from the trees.   In my own academic field, I have witnessed the dominance of a theory for fifty years that is clearly absurd.  Its overthrow requires another theory, but the continued existence of the current one is abetted by a plethora of editors and reviewers interested in preserving their status and their status quo.   There are plenty of signs the same state of affairs exists in archeology, Egyptology, and the general theory of the history of this planet.   

…..the lines dont show up when I copy the chart……but there is a Great Falling wedge …look and you will see it

http://tinyurl.com/6mhdcd

I have no further comment on your postings between 18:00 and 19:17.  I found it temporarily amusing to imagine that there was a parable between a fossilized mammoth frozen in time, with vegetation still in its  preserved mouthparts, and a potentially fossilized nation with its mouthful of fossilized fiat (the world’s “reserve currency” at that) being preseved for future archaeoligists to discover.  Just my imagination.

4 days to SILVER DEFAULT ……….I just sit and wait…2 bucks in 2 days..not bad..rumble rumble shake shake

Agree. Glad there are people who keep and eye on stuff

like that and write about it and keep us informed. Silver-

boom included.

Auric

I thought you were in England. Oops, forgot your pics

of the flight back to Or. last week. You move too fast for

me to keep up.

Actually, since you mentioned it, when I was up fishing

Davis lake back in early Oct., I stopped by a stream that

flowed into Wikiup. Saw the multi-colored lake-locked

salmon headed up stream. The eagles weren’t there yet.

Saw some LM bass at Davis but they had lockjaw. I blame

it on the full moon the night before.  Can’t make it cause I

have to work!!! I used up the vacation during summer.

Auric

Hey come to think of it, you said you would mail me a copy of your book and feel free to give you feedback. But thats okay, I still haven’t had time or made time to read another book someone sent me they wrote on the corrupt system, i need to start reading this week sometime. And your getting good feedback right now. Congrads

Glad to see you post,  I was just thinking of you.  Tomorrow a friend and I will head down to the Deschutes near Twin Lakes to check out the eagles.  Other friends were down there yesterday and watched about 40 of them feasting on the Kokanees.  Have you been down there recently, seen a mob of fat eagles?  Any interest in joining us?

Google Earth co-ordinates:  43 44′ 39.9″N, 121 46′ 54.51″W

book and make sure it is accurate. You can take a gander of the book at my blog: www.thehandbookforprosperity.com

But hey, you notice that even at the tent, much of the discussion is about the noise, the distractions. Not a whole lot about the Truth.

Not that there is anything wrong with that. It is the predictable outcome of not being able to trust anything - nothing at all - in the human system. so we are reduced to trying to “make it”, to avoid the slaughter, to help friends (good thing), to make sure “we get ours”. Listen, I was at a conference in Colorado Springs on Saturday. There are only 700 kids in Colorado - yup, the whole state - that are awaiting adoption. So this conference was to bring couples interested in adoption together with adoption and foster parent agencies, including the STATE gobmint (they HAVE to be there because they have a stranglehold on the whole mess). Well, 1500 people showed up. Amazing. MOST of them middle class, lower middle class, and upper lower class folks. Many of whom already have many kids of their own.

Now these folks may indeed get crushed by what is unfolding. But by golly, their hearts and their ACTIONS are in the right place…reaching out to help those who cannot get the help they need on their own, the STATE be damned.

So, I have to ask, who is richer? The ones with several gold coins, maybe tons of silver coins, stashed somewhere safe? Or the ones who are giving life to those unfortunate souls who life delivered a dastardly blow. Something to think about as we head towards Thursday this week.

Check out my blog, the book is available for Tenters only through this weekend at the special price of $20, shipping included, and autographed to your wishes. Just click on the “Visit the Shop” link and follow instructions.

Many thanks to the Tenters who have ordered my book. I hope you find it helpful personally and helpful in opening the eyes of a family member, or a friend. For me, it has been a tool of “if only” suffering, for I had this information and all its clarity since 1984, and here I sit today, eating through our retirement money. A book of help written/updated by an idiot, who can only proffer “don’t do what I did, do what is in the book”.

May God bless us all and watch over our souls and those we love.

What amount of study I did have in physical anthropology which also required me to use my anatomy and physiology knowledge is indeed a lot of work. And is why I would only trust these same people for facts. Even in courts of law they are now trying to suppress science..ie DNA or other physical scientific evidence, if it help defense by suggesting innocence, or not submit it at all by prosecutors for this reason. Mostly in people who can’t hire a private atty.

Okay on this chart starting from 1982 - we have hit the bottom of what I would call wave 4 of the prior move.

This is where I am at now. And it is very tentative. It means I will have to change my long count on the major markets to what I always thought was the count on the metal stocks. A major wave 2. I guess I should not be surprised since they have tracked each other well.

I had thought that there would be one more leg up (as I posted) into say 2010 and that would end this major move. Now it looks like 2010 will be a smaller degree wave 2 of the upcoming very likely wave 3 of the major markets.

But do the math on where the major markets will go if this is a wave 2 correcting back to say 1982.

aurum (DJIA)

www.stephenerobbins.com/AboutSR.html

I’m sorry, but a banker trying to be a geologist just doesn’t

make it. I read his whole dissertation that you posted and

it lacks in the most general knowledge of geology. I’m not trying

to start anything but there are people who go out and do real

field work, hammer the rocks, plot the dips and look at the thin

sections and write about what the evidence is saying. Extraordinary

claims require extraordiary evidence.

I’ve been here before. Try to bring a little reality into the picture

and get ignored, then goldie will post you with some other stuff she

finds on the net like that with a remark about what I posted. There

is no substitute for field work.

Auric