Oldtent Archives 2007 - 2008

Hi Bill
I just read this announcement by the US Mint that they have basically run out of almost EVERYTHING and refuse to do anything about it.

www.silvercoinstoday.com/us-mint-depletes-inventory-down-to-american-eagle-one-ounce-bullion-coins/10315/

To give you an idea of how FRAUDULENT their excuse is that they have “run out of blanks” I checked into what was going on in the blank silver world and found that THERE IS NO SHORTAGE OF BLANK PROCESSING CAPACITY!

For example, one of the many US Mint silver blank suppliers, The Sunshine Mint, has the capacity to strike 200,000 1oz silver blanks per week or 10.4M blanks per year (www.sunshinemint.com/Blanks.htm). If the US Mint were to outbid any other customer to secure this single blank processor’s entire production line for .999 silver eagle blanks, the 10.4M ozs would cover their entire average annual production over the past 10 years. What if they did the same with 20 different blank production facilities in the US and around the world? That would give them the ability to produce 200M 1oz silver eagles per year. ..SO WHY AREN’T THEY DOING IT WHEN THEY KNOW THEY ARE LEGALLY OBLIGATED TO SPEND ANY AMOUNT OF MONEY TO MEET US SILVER EAGLE DEMAND?

The sad answer, I fear, is that they are part of the global silver manipulation scam.

WHAT HAS HAPPED TO OUR GOVERNMENT?!
Bix…

From me to Bix:
I am confused, the are minting coins, or are not?

Bix…

Excellent point and I think it shines a bigger light on the games going on at the Mint.

If they can’t keep up with the Silver Eagle Demand why are they issuing a new 1oz silver coin next year?

The only answer I can think of is reintroducing silver as coinage in the US. I know it’s a big jump but this would explain why they are trying not to produce anything right now because they don’t want us gold/silver bugs to be holding all the coins when the fiat system fails and a new monetary system is introduced. They will have to redistribute the wealth of our nation through some form of distribution methodology that the public would accept (as was mentioned in the FED Wishes and Rainbows comic). In that scenario the flowers (gold/silver backed currency) was reallocated by age (thus solving the Social Security dilemma that Greenspan was originally charged with fixing back in the 70’s!). All the pieces fall in place.

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Hi Bill -
The US Mint just issued this press release about a new Lincoln Silver Dollar:

www.silvercoinstoday.com/lincoln-bicentennial-silver-dollar-for-2009/10367

The back of the coin reads:

WE HERE HIGHLY RESOLVE THAT THESE DEAD SHALL NOT HAVE DIED IN VAIN - THAT THIS NATION, UNDER GOD, SHALL HAVE A NEW BIRTH OF FREEDOM - AND THAT GOVERNMENT OF THE PEOPLE, BY THE PEOPLE, FOR THE PEOPLE, SHALL NOT PERISH FROM THE EARTH.

Either we’re about to go back on some kind of silver standard or this is the most hypocritical statement ever made by our government!

Here’s hoping it’s the former!
Bix

It would’ve hurt too much.

Bill H:

Manipulation?

To all; I caught a little bit of CNBC this morning, they were talking about Bernanke’s “toolbox”, which includes buying 10 and 30 year Treasuries to reduce mortgage rates. One of the anchors said “now they’re talking about MANIPULATING the long end of the yield curve”. [my emphasis] All I have to say is DUH!?! Imagine that, the Treasury and or Fed manipulating a market, “who’d a thunk it”? She said this while sitting next to Larry [king Dollar good, Gold bad] Kudlow, I wonder if he has the brain matter to add 2+2 and make the leap into the Gold market’s brazen manipulation for years and years, or if he is not just plain disingenuous?

I do feel better though after hearing one of the squirrel brains on CNBC talk of manipulation so openly. Going back 7 years or more I’ve been running around telling anyone who would listen, that Gold and Silver prices were being artificially suppressed. I tried to do this quietly with numbers, facts and paper trails, I didn’t want to offend anyone or add fuel the “he’s a whacko” fire. In fact I used to wear “tin foil underwear” because I didn’t want anyone to see my hat. Well, all that is done now, I’m wearing my tin foil hat proudly and carry my ID card to the “tin foil society”. What a relief, I no longer have to scurry around whispering about the obvious manipulation, CNBC has joined in! If they say it, it must be true, right? Actually, I think it might be a good idea to send some of my old tin foil undies to CNBC as a reminder to them to keep a low profile. They really should be careful with this talk of manipulation as it might get the sheeples thinking and doing some math. God forbid if the sheeple began to do a little math, they might just figure out the country is beyond bankrupt. Seriously, CNBC has spoken several times about the government intervention and manipulation without going the extra yard of thought. They seem to think manipulation is OK as long as it is in the “right” direction, when everybody gets slaughtered, then and only then will CNBC have any outrage.

The biggest laugher for spin this week is the acknowledgment that we have been in a recession for a year now. Imagine that? Now these same boneheads that were denying recession until only recently are spinning “this is as long as the average recession so we must be only days away from a recovery starting”. Get real! They didn’t forecast this trainwreck, they didn’t acknowledge it until now, and now they are so elite with knowledge that they can tell us it’s over? Well, it’s over alright, it’s so over that the ten largest banks combined in the US are now worth less than Exxon Mobil. Regards, Bill H.

Bix…

Thought out?  Bwahahahahaha.  What about Agrium, then?

p.s. don’t worry, if a deflationist presented spurious reasons for deflation, I’d have a go at him/her too!

……sheesh…..what would you prefer Joe the Plumber’s opinion ?……..Just because he says Deflationists are out to lunch doesnt mean he’s a shyster….sheesh….just another….opinion….and a well presented and thought out one at that !

only a small percentage of longs will opt for delivery. the others hope the shorts will attempt to bail out and start buying. the only scenario we care about is the inventory number being smaller after december delivery. it may take several more months, but sooner or later the shorts will be standing on ground they have no hope of defending. you only need one more long demanding delivery than shorts who have the capability to deliver.

we all have badly underestimated the power of tptb. we must all remember that they have the banks and government behind them.when we see new elected officials in office and in the fed, that’s when i believe the system will fail and the old guard will proudly proclaim, “everything was fine when we left. must be the new guys.”

rno

…equals the 96 to 01 drop in percentage terms….cool find !

….the first fractal took 5 years….this one 9 months….

….I guess you ccould say things are happening a lot faster now….

…hopefully the rebound will also be faster this time…

….well done PM Trader…..

….what an outfit eh Irish ?

I think it is a very shallow article.  Take the reco to buy Agrium.  Sales increased from $900m 3rd qtr 2007 to $3.2bn qtr3 2008 (actually, from $989m to $3,113m).  Big deal.  Anyone can buy sales, which is what Agrium did when they acquired UAP.  Agrium has $6.2bn of debt.  Debt to equity ratio is 150%.  But, you must buy this company because interest rates are set to skyrocket.

He mentions the Japanese deflation, but doesn’t touch it after that - unsurprisingly, as it would be difficult to explain why Japan had deflation with 0% interest rates when they were printing money like mad.

His great understanding of human history leads him to the conclusion that we always have deflation before inflation, but deflation is a rarity, whereas inflation is the norm.  Well, if one is a rarity, t’other must be too!  Or maybe I just missed the deflation before the ’70s inflation

When you understand the Laws, then you understand that it is not more difficult to create a castle than it is a button. They are equal. It is not more difficult to create $10 million than $100,000. It is the same application of the same Law to two different intentions.

There is a difference between the COMEX deliveries and the Nymex Warehouse stocks.  Most often writers incorrectly refer to the warehouse stocks as indicative of delivery trends.  It is the COMEX deliveries where the activity occurs.  Look at the link to COMEX deliveries and you will see who the derivative players were today.  Google their names and you will experience a valuable lesson in what activities they are engaged in.  These deliveries do not move in and out of the published Nymex warehouse inventory numbers.  Note that the COMEX deliveries are shown in contracts (e.g. for gold, multiply by 100 oz) whereas the Nymex is shown in ounces.

Nymex:  http://www.nymex.com/warehouse.aspx

COMEX deliveries:    http://www.nymex.com/media/delivery.pdf

Stating that 15 million ounces have been withdrawn is not factual.

You know I was thinking today that I wish I would have bought more of those smaller gold coins before the mint stopped making them. And then it struck me. I thought about all the people convinced ..now…who are sure gold will go north of 2000 and thats when it struck me. People will have less choices at 2000 gold, so what will they do..they’ll buy silver, as t will be easier to buy a OZ of silver vs. 2000 gold. Im guessing the heavy demand in gold to come in the next few yrs may just drive silver up to new percentages vs. gold. JMHO

…Tell us more….tia