Oldtent Archives 2007 - 2008

…..Nice handle

The next 90 days could be thrilling.

GOLD’s 300 DMA now at $865.25

~ ~ ~ ~

Thanks for all the great posts.

Goodnight everyone!

JBI

I think that’s just a bad tick.  If not, gold would be up $100 tonight based on some geopolitical ka-boomie.

UCO is looking pretty tempting though…nice volume today as crude attempted a double bottom and reversal.

Wild action today in front of OE.

Oh I forgot they can do what ever they want when they want when the bs is positioned to screw the most and line their own stinkin wallets. <G> Give me the game plan some time……

Just my  WAG but I expect that they switched from the Jan contract to the April Contract.

goin great so far, but what I really want to know is what just happened to oil? Is that real? Spike just now from 35 to 43.55

Can’t say for sure, but I do know that there was no access anytime today using foxfire or explorer. The times that the cloak didn’t work, think that the ninja was so overloaded that I was getting timed out before my turn came up.

Even now when trying to post this message I could see that it was going to time me out–in the lower bar, at the left “waiting for ninja”

“Most consider the New York market ‘spot’ price for an accurate indication of the true price. However, investors now buying buy physical or ‘fabricated’ gold, are paying a premium of between $20 and $30 per ounce. When these gaps existed in the past, major increases in the price of gold were imminent.

For much of the 20th Century, gold continuously defied global government efforts to restrain its price. The premium currently in place may be evidence of the latest round of such policies.

In 1934, President Roosevelt devalued the U.S. dollar by some 75 percent by raising the official price of gold from $20 to $35 an ounce. This opened the door to the first great wave of inflation of the 20th Century. Following World War II, national governments, particularly the American Treasury, held the vast bulk of the free world’s gold. The official $35 price was maintained, almost by official dictate.

However, in the 1960’s, a ‘free’ market gradually developed that traded gold at a premium to the official $35 price. In response, the London Gold Pool, a central bankers’ gentlemen’s agreement led by the Bank of England and the New York Fed, was established to hold the so-called ‘free’ market price of gold “to more appropriate levels” … to “avoid unnecessary and disturbing fluctuations in price” which could erode “public confidence in the existing international monetary structure.” The agreement lasted until 1968. Thereafter, the price of gold was set solely by the free market.

As the inflationary financing of the Vietnam War began to filter into the international economy, private investors and nations with trade surpluses began to buy gold to protect their wealth. The ‘free’ market price began to soar above $35 an ounce. Far from reducing the demand for gold, as many esteemed Keynesian economists had predicted, this free market price increased the demand for gold.

Surplus nations demanded gold from the American Treasury at the official price. Experiencing a serious run on the national official gold reserves, President Nixon broke the U.S. dollar gold exchange link in August 1971. It unleashed a wave of competitive international currency devaluations and the second great inflation of the 20th Century. Subsequently, the U.S. dollar was devalued further, by some 20 percent, as gold officially was revalued to $42 an ounce.

However, led by America, the central banks then made a determined attempt, through the IMF, to “demonetize” gold. Central banks agreed not to fix their exchange rates against gold and agreed ‘voluntarily’ to the removal of their obligation to conduct transactions between themselves at the official price.

In addition, the IMF was persuaded to ‘distribute’ some 153 million ounces of gold into the market and to minor nations. This had the perverse effect of greatly increasing the interest in owning gold.

An even stronger ‘free’ market began to operate alongside the official price. As inflation continued to clime, so did gold. In the early 1980’s the free market price reached $850 an ounce, while the official price remained at $42 an ounce.

In 1999, the Central Bank Gold Agreement (CBGA), also known as the Washington Gold Agreement, led to the coordinated sales of central bank gold via the IMF. Clearly designed to depress the free market price, it is widely believed that the IMF sales were timed to magnify volatility in the free market price in order to destroy gold’s perceived worth as a ‘store of value’. The CBGA was renewed on September 27, 2004, for a further five years.

More recently, market dealers have become increasingly aware of a covert official ‘blessing’ for large naked short positions opened by major ‘bullion’ banks. These bets are designed to force down the free market price of gold.

In the mainstream investment community, gold has been consistently scorned as an investment. Many respected analysts have even suggested that gold’s allure is wholly based on perception and that the metal lacks intrinsic value. And yet, in terms of U.S. dollars, gold returned about 5.8 percent in 2008, following a 31.4 percent return in 2007. Thus far in the 21st Century, gold has delivered an average annual return of some 16.3 percent.

Despite the powerful attempts of governments to eradicate gold’s role in monetary affairs, the free market price has risen continuously. Today, although the possibility of global depression act as a head wind, the existence of an “above market” premium for fabricated gold, may foretell a major threat to the credibility of paper currencies, a major U.S. dollar devaluation and a consequent strong rise in the price of gold in the months ahead.”

by John Browne, Senior Market Strategist
Euro Pacific Capital, January 14, 2009

~ ~ ~ ~ ~

JBI

40,013,183 . . . . . . . . . . .

Technicals are looking ready to rip on the weekly chart.

Same issues with me, and same “patch” from Audept. One thing I noticed is that for the past three days I’ve been able to access the site in the normal way just before 10AM Pacific time, and then have access, refresh, etc until just before 2PM Pacific time. The rest of the time I’m getting “Address Not Found” and have to go back to the “patch”.

I’m wondering if you or others are having similar access success during those hours??? If so, I think the knowledge might help to locate where the “glitch” is located and correct it.

www.lewrockwell.com/rozeff/rozeff257.html

Still can’t get in here using foxfire or explorer–have to use the cloaking method that AuDept gave me. Also noticed that it showed that I had to log in or register. Went to log in and it logged me out. Good think I’m not paranoid–not much anyway. Some times even with the cloak on, someone or something spots me and zips up the tent flap. O well at least gold did a little reversal today, sofar.

http://tinyurl.com/8p3gz2

All the best.——-aggie.

Tks for the continued Midas posts. Although enjoyable may not be the right adjective to describe….Midas is a most valuable read. I shake my head at the mess the banks have gotten themselves into…..with them holding gold down as a smokescreen to put false value under the dollar. Pathetic. Hopefully Canada is not in the same predicament.

I went to the post office and got a stamp to mail the $100 check. It costs 72 cents. For US mailers…..you’ll have to go to the US post office to pick one up…..The attendant said also to include the word “Airmail” on the envelope. Maybe everyone else knows this……but not a dumb aggie like me.

All the best.——-aggie.

Well after filling up the green waist and his truck with leaves he said he did the best he can but cant get anymore leaves.He said he didn’t realise there was that many lol. But he got most of them anyways. Im free to leave now. Glad I waited or I might have missed the postage part..but now late have to mail it tommorro.