Gold , coins , miners , timing

[Paint Your Wagon]

German is a strange language just like Flemish ( Germanic language strain )
On the German forum somebody said he could not follow me since I was going too fast
and so I felt offended the way it was phrased
A moderator said I am an oak and if somebody wants to piss against me to take no notice
I better behave like an elephant though ; not minding the porcelain in the shop

I will think of dharma as a tick on a sheepdog and just go on

I am watching NG on a one minute chart . If they run the stops I will buy

[Paint Your Wagon]

Our flemish television was able to film a gsm with Sharon Stone glued to it
She is in antwerp for Largo Whinch II film
The main male actor was passing his time with a teleguided minicar
She literally camped in a huge camper 

[Paint Your Wagon]

@ whadda

you gone and done it - made my head spin-

I took a testposition of 500 NG at slow stoch 30%
Now it is going to go into freefall 

[Paint Your Wagon]

The evidence

Exhibit A

[whadda]

I don't think NG is under attack. It had a nice little run and profit taking occurring.  I see it hit $7.56us already today. Red line should be good support. Fibs don't lie.

[Paint Your Wagon]

I don't think NG is under attack. It had a nice little run and profit taking occurring.  I see it hit $7.56us already today. Red line should be good support. Fibs don't lie.

There is a lot of shifting around going on
Tanzanian broke upwards GBG broke upwards to fall back ; South Africans are going up etc
Gold in euro today at an all time high again (closing price) and slow stoch stays at 100%
I have rarely seen a slow stoch stay dead at 100% although at a closing price only this is a lot easier then
at full range prices
Next week should see a bottom in goldminers

[whadda]

I don't think NG is under attack. It had a nice little run and profit taking occurring.  I see it hit $7.56us already today. Red line should be good support. Fibs don't lie.

There is a lot of shifting around going on
Tanzanian broke upwards GBG broke upwards to fall back ; South Africans are going up etc
Gold in euro today at an all time high again (closing price) and slow stoch stays at 100%
I have rarely seen a slow stoch stay dead at 100% although at a closing price only this is a lot easier then
at full range prices
Next week should see a bottom in goldminers.

Stoch is pegged because Euroland is in the midst of a meltdown. If they don't come up with a better plan like in cutting spending the future looks bleak with all the debt involved.

With spot up I just didn't take the chance of selling more NG, oh well. Have some bucks left to keep adding when I feel like it.

[Paint Your Wagon]

Apart from emergency deposits overnight at three banks I am now fully invested
I think the miner bottom is close if the Dow Jones does not drop a few thousand points and the miners follow

Since I am heavily in gold and miners ; the worse greece and the EU get the more money I make . So the dollar up and gold up is twice money in the bank
I am getting nervous though. Like I said on the stool a few times . I get nervous when I make lots of money three weeks in a row . Really 

[Paint Your Wagon]

And yes I know how beautifull life can be ........( Longnine would know from which song these lines are that keep repeating in my head )

Hurst promisses HUI 509

[scottishmoney]

I lament the high price of petrol, but take comfort that whence it is nigh, the gold goes high and stabilizes matters.  Meanwhile the vaunted Euro takes a dip in the abyss that the dollar did awhile back.  

[Paint Your Wagon]

I lament the high price of petrol, but take comfort that whence it is nigh, the gold goes high and stabilizes matters.  Meanwhile the vaunted Euro takes a dip in the abyss that the dollar did awhile back.  

We pay more then 10 $ a gallon for high octane gazoline for cars
After crisis meeting X it was decided the EU will defend the euro at all costs
There is another crisis meeting tomorrow
Because of competitions fights my supermarket bill is coming down . Because of all the antics my gold is going up . Let the games continue Nero said before he burned Rome

68 US banks down the drain
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRVsqkRolq1c&pos=4

[Paint Your Wagon]

The Euro has a cool TRILLION dollars in stand by to kill all undercapitalised invaders
Even the chinese and other eastern were impressed ; their stockmarkets shooting up 2.5%

Yesterday Merkel lost the provincial elections and as a result the majority in the german senate with her 2 party coalition. The germans punished her for helping save the greeks

The english DARLING said he does not care to help the euro ; well I am sure when the time comes we won't care to help the non sterling paper pound

Half of the airports are closed again for volcanic ash

The worst is that gold is 4.5% down in euro in a single night. Their goes my
birthday present and dinner down the drain in a single night 
Lucky I bougth my present last night 

It seems the US has too many dollars since they are "shipping" them to us

http://www.freerepublic.com/focus/f-news/2510176/posts

[dharmaeye]

On the general market looks like should bail/ sell at a double top or around May 20. Last week was THE warning. End of June look at getting back in for a couple of months.
Gold has changed, as shown by last week.
Hoping for a fast hard fall this week for adding to physical. Silver is a major consideration.

[Paint Your Wagon]

On the general market looks like should bail/ sell at a double top or around May 20. Last week was THE warning. End of June look at getting back in for a couple of months.
Gold has changed, as shown by last week.
Hoping for a fast hard fall this week for adding to physical. Silver is a major consideration.

Whether physical gold falls further then the 4.5% it did in euro will have to be demonstrated at the US market opening
Fact is that the dealers in Belgium have a 4% spread between buy and sell which means
that in theory they are selling with a 0.5% loss today .
I was promissed quotes to buy on friday and not surprisingly I am not getting any quotes
The people that bid up small coins on ebay are now stuck at 7-9% over spot with their bids that end tonight 
I bought 8 ounces of silver in one giant washington mint piece for 16% below spot of friday . On all the gold coins I was second or umptheenth bidder

[whadda]

Happy Birthday PYW. Everyone deserves a present for living/surviving through another year of this crap.

This is all I could afford to give for a gift, straight cash.......

[Paint Your Wagon]

Happy Birthday PYW. Everyone deserves a present for living/surviving through another year of this crap.

This is all I could afford to give for a gift, straight cash.......

Only 50 Million ? Common you can do better then that  

What hurts me most is that the physical I bought and enjoyed for 10 years now appreciates faster then any miner shares I try to select and trade and time  
I could have been playing computer games and watch films for 10 years instead of analyzing the goldmarket  
I started on Battlestar Gallactica the series and sofar I got to the middle of season 2  
I am getting Friday the 13th for future torture . I allready got the 12 films and now
am working on getting season 1 of the series

[whadda]

We've had to live through the manipulation for 10 years and things are about to change as manipulators flip and go along for the ride with miners. You should have learned to pick out the strong well run miners as they take the lead into the future. Even EW will work now as it tracks mob mentality, it never was for fundamentalists was it? One stock share will begin to leverage more ounces of gold than one unit of any paper currency.

Old season Star Trek is always a favorite. I have the first five seasons of House MD to pass the time.

[Paint Your Wagon]

We've had to live through the manipulation for 10 years and things are about to change as manipulators flip and go along for the ride with miners. You should have learned to pick out the strong well run miners as they take the lead into the future. Even EW will work now as it tracks mob mentality, it never was for fundamentalists was it? One stock share will begin to leverage more ounces of gold than one unit of any paper currency.

Old season Star Trek is always a favorite. I have the first five seasons of House MD to pass the time.

I think I only got three miners that disappoint me
Droopy for ever
Harmony on and off
and I am getting sick of Kinross ; I allready unloaded a quarter at the ema65 line and going to do it again in the coming cycle top

I just lost a bid on a Louis XV gold coin in MS 63
Can you believe I upped by 110 euro and was second bidder ? The third bidder was 115 euro behind so the vendor is going to be content

[whadda]

You can start selling soon instead of being a buyer then get it back during those wild 'everything is fine now' swings.

[Paint Your Wagon]

You can start selling soon instead of being a buyer then get it back during those wild 'everything is fine now' swings.

I think the time of the mood swings is nearly over . We had a depression and a slight let up of the
downward pressure . From now on it will be moneyprinting for everybody
We will have very large weekly fluctuations but unpredictable due to computertrading
Volatility demands very nimble thinking .
I may start selling at 1200 euro an ounce ( let ' s call it 1600$ )

[Paint Your Wagon]

And here we go
The horses are out the starting gate
Miners up 3-4% on the open
Silver going vertical

All other shares bleeding

[TwoShadows]

The dollar is up but so is gold! Whats that tell you. The ladder is in place and the climb has started!

[Paint Your Wagon]

The dollar is up but so is gold! Whats that tell you. The ladder is in place and the climb has started!

For the first time an ounce of gold is being bought by exchange agents at 1000 Euro and sold at 1050 euro today .
Banksters are betting against the euro again today ; that is why the dollar is up .
They know the dollar can be printed freely as the reserve currency
They will first try to take out the euro
Banksters can easily generate 10 trillion euro short in CDO's and we only have one trillion monopoly money to counter them .
But on paper balances we got more gold then the US if we have any left or if the US has any left
In the end the dollar will probably be lower then the euro today if the two manage to survive the slaughterhouse that is coming

[Paint Your Wagon]

This is unbelievable

Bloomberg reports that GM Considers Buying back GMAC

Or starting a new unit.

Having its own financing unit will 'increase its profitabiltiy.'

    "As a dog returns to his vomit, so a fool doth repeat his folly." Proverbs 26:11


Unless of course you get to keep the gains, and a greater fool, the public, assumes your losses.

It's good to be the King, but cheaper to lease one.
 

I know my dogs will eat their vomit immidiately after , but then again they are real animals
not bread like GM who is a would be animal . Use the spray can to kill only with open windows  for your own protection use gloves and don't inhale the fumes 

Is there time for a round two of saving those to big to fail ? I don't think so

[Paint Your Wagon]

(Reuters) – Nearly 40 million Americans received food stamps — the latest in an ever-higher string of record enrollment that dates from December 2008 and the U.S. recession, according to a government update.

My best american boss who was pensioned off as vice president of Tuperware told me how it pissed him off that he bought normal steak and people with foodstamps would buy sirloin or better quality
But then again his wife and daughters were big spenders . He was frugal 

[whadda]

I read some quote about hedge funds could manufacture shorts faster than Euroland could print money.

Germany leaving the EU might work as it would let the remaining satellite countries devalue the euro against German fiat which I think they already use in the black markets there cause it was stronger than euro all along. Mean while, California is back to making a new budget due to tax revenue short falls, like that is any surprise but now it's happening.

[Paint Your Wagon]

Today is a decisive day for the South African miners
Droopy allready has ten times the normal volume before noon but only managed a one cent breakout sofar .

[Paint Your Wagon]

To whom it may concern

Sold a third of my core position in NGD for 6.60 cad and 36% gain
Slow stochs in month, week, day time frame all above 80%

[whadda]

Always good to realize profits but NGD just ceased being a penny stock and funds will notice. It's holdings are now stronger than when it was a $10 stock.

Long term Droopy chart just looks sick and I don't mean in a good way. That area of the world has governments making more and more demands on miners and declining production doesn't help only spot being up helps.

I'm holding tight here for the time being. Only some sort of ingenious plan to save the Euro could upset this run now.

[Paint Your Wagon]

Only NGD is overbougth in all timespans and all indicators

Oceana is next going way overbougth

Droopy had a technical breakout with a 7% target 
All I want to do is get out without too much pain ( loss 33% at the moment)

I see dharma has now 20 june has high ( he is counting my charts wrongly somewhere )
Based on momentum I think the high will be in three weeks but I am ready for
an early high before 30 may if it should happen

I will further realign my portfolio to smaller canadian miners

This should be of intrest ; one of the well known internet shops of gold and silver
in germany closed yesterday since it is sold out . Belgian exchange agents are now
buying gold at 4% over spot

[whadda]

I just meant to say miners like NGD don't swing much. If exiting the position to move on to something else that's great but if you are waiting to buy back in lower then it may not be worth the trouble, at least not this time around. Even NG is just consolidating.

Too bad about Droopy. The rule is usually to exit a losing position early. You can wait for a retrace but I think other miners will be outperforming during the same time period like by double. When I get stuck like that I go for more shares by selling a position and use the funds to buy double or more shares in a lesser valued but rising stock. At least makes me feel better. GSS comes to mind but there are a lot to choose from. Sell half and you can be half right and half wrong. Producing miners under $5 are still a steal.

Dhama just throwing numbers around never shows his work. BV still being a bear, EW must be a chronic condition or genetic, this is the second major chart move he missed in row.

4% over spot, kool. Remember I asked about selling back 100oz JM silver bars, they offered like 5% over spot that was about a year ago.

I'm not worried about overbought but the corrections. Will miners consolidate at high price levels or swing wildly? Today they seem to be consolidating. That's why I'm holding on this time around.

Oceana is a good looking chart. long term, short term.

[dharmaeye]

Only NGD is overbougth in all timespans and all indicators

Oceana is next going way overbougth

Droopy had a technical breakout with a 7% target  
All I want to do is get out without too much pain ( loss 33% at the moment)

I see dharma has now 20 june has high ( he is counting my charts wrongly somewhere )
Based on momentum I think the high will be in three weeks but I am ready for
an early high before 30 may if it should happen

I will further realign my portfolio to smaller canadian miners

This should be of intrest ; one of the well known internet shops of gold and silver
in germany closed yesterday since it is sold out . Belgian exchange agents are now
buying gold at 4% over spot

I see a bottom of some sort Mid June then a two month blast. How does that fit with your thinking?

[Paint Your Wagon]

I looked at charts all morning
First gold and miners seem to sync as to the top in time - find the top in gold and you have the top in miners
Second gold is on a 90 or a 107 nominal cycle which formally ends 30 may or 16 june
( 107 for 9 years but since the early december 2009 high looks shorter ; first cycle 2010 was 90 days )
I am looking at all secondary oscilators to see which is which . Now since individual shares will be sooner or later then HUI  i sold part of NGD
( whadda I am looking allready at another batch of possibles to swing into )

Today I sold Anglogold 1/3 . This leaves me with 900 euro gain and the other 2/3 marked to zero bookvalue   on top of the gain

I am still looking at selling part of Oceana when the momentum hits an historical high.
No share can stay forever more then 25% above ema65 ; so relatively better sell

Dharmaeye the bottom should be 30 to 50 days after the minitop which is not in yet I think so I figure bottom at the start of july to mid july or later
I am reading tealeafs daily now untill I figure the top is in for this cycle

[whadda]

Gee PYW, you might try buying a few Deutsche Marks for pocket change. Temporarily should be a strong fiat. A gamble would be buying shares in the Frankfurt Stock Exchange but only for a short period of time.

Domino England is the next falling major currency, eventually leading to the US$ collapse but for now the dollar is still the world's reserve currency, the last to go down. Oil at $100 bucks a barrel with no demand will confirm inflation is upon us. Today's Norcini chart and comments sums things up nicely along with the channel lines. Short term a close below the channel and a correction occurs, a close above the channel and it's time to take profits or sell outright. Mid term support will be the middle channel line for any return trips once it is cleared.

Maybe there isn't that many well run producers below $5 since are all moving up so pickings might be few.

A few miners left that weren't beaten up today like TGB Oceana FMN CRK and some pink sheets listing. If they don't get beat up tomorrow with rest of the miners then the run continues in earnest. Careful, it's getting ugly out.

[whadda]

For those of you that are interested. Meltup (Video Documentary)

[whadda]

Wake up! PYW! This is no time to be sleeping. Can you verify this rumor?
Breaking News, Germany to Leave the Euro This Weekend?

[Paint Your Wagon]

Wake up! PYW! This is no time to be sleeping. Can you verify this rumor?
Breaking News, Germany to Leave the Euro This Weekend?

I do not believe the rumour
Details were that supermarkets and all have been ordered to leave the euro sign off prices
One would be able to change 1000 euro against 1000 Dmark and the rest of the money would be put in limbo ( kind of frozen on the accounts)

Merkel has lost her majority so they are now coalition decisions ( she cannot govern germany alone anymore . Moreover they would have to notify the EU or they might find themselves out of the no customs no borders union as well.

Fact is that ebay gold prices are now 15 % over melt on ebay germany . So some belief.
Summery : Anything is possible but I doubt it

[Paint Your Wagon]

Monday 17 th may
Breaking news
Due to the cold weather the Dmark has been delayed

[Paint Your Wagon]

ahaha
The german forum says France is going to leave

http://www.eubusiness.com/news-eu/france-germany-euro.4p7

[OldDan]

In the end, only Greece will have all the uros, and borrowing from them...

[Paint Your Wagon]

In the end, only Greece will have all the uros, and borrowing from them...

They only took 20 billion pocket money this week 

[Paint Your Wagon]

I am sure a miner reaction is coming and it might be severe since I am up 8% in two weeks on my portfolio
I think next week or in three weeks is the intermidiate top and the down 20 to 30 % as usual
So I am in distribution mode untill I decide the top is in

[whadda]

If the local soothsayers are seeing $1650 - $2000 in our near future spot price then it has to run at least about $400. 30% gains in a miner will be considered under-performing.l

[Paint Your Wagon]

If the local soothsayers are seeing $1650 - $2000 in our near future spot price then it has to run at least about $400. 30% gains in a miner will be considered under-performing.l

I agree BUT

My year high is for nov most likely or oct or sept to cover my ass
Miners have been underperforming for 10 years now
We have the dolldrums of july and august before us

Summing up : for the person that is right and nimble an extra 20% gain are possible together with a repositioning of the portfolio to juniors or start up situations or turnaround situations. In the final years of the goldbull the miners should do 3 to 5 times better percent wise then gold . Obviously this time has not come yet.
I have to reposition since half my portfolio are dinosaurs or stricktly trading shares

[whadda]

If whiskey burns your throat try this alternate method.
'Drinking' neat vodka through your EYE for a quick buzz?

[whadda]

Is the ECU like "Hotel California?"

[whadda]

Stay diversified. major and minor currently producing, soon to be producing and then the wannabe long shots. Weight according to reserves.

NG and a partner want to build a 300 mile natural gas pipeline (12"?) to power a future mining operation in Alaska. They actually had windmills farms and huge diesel storage tanks for generator/equipment fuel on the drawing board but just scrapped that in favor of nat. gas. Smart move.

[Paint Your Wagon]

If whiskey burns your throat try this alternate method.
'Drinking' neat vodka through your EYE for a quick buzz?

TV just reported that our new craze is drinking till you drop
They get dozens at first aid every weekend ( that went over the line )

[Paint Your Wagon]

Is the ECU like "Hotel California?"

Seven of eleven would say " question does not compute " please input further data
( in other words I am lost as to the first and second part of the question )

[whadda]

Is the ECU like "Hotel California?"

Seven of eleven would say " question does not compute " please input further data
( in other words I am lost as to the first and second part of the question )

Per the lyrics in the song,

 "...And she said we are all just prisoners here, of our own device"
And in the master's chambers,
They gathered for the feast
The stab it with their steely knives,
But they just can't kill the beast..."

"You can check out anytime you like but you can never leave!"

i.e. Germany and France

[Paint Your Wagon]

ah yes

I tend to swing on the music and not listen to the lyrics because when I was younger then 15 I had no english training and when I was older I found they slurr the lyrics so much I cannot understand them

One of my family's best friends was Frank Pugh an English soldier who married a flemish girl in 1945 and staid on forever till he died
One saturday we spend all afternoon trying to figure out the text of A whiter shade of pale
Can you believe an English born listening 20 times to a record and still not understanding all the words ?

Nowedays of course you put lyrics and whiter shade of pale in a metacrawler and up will come the text ( I never use google )

[Paint Your Wagon]

And finally I got my Sacagawea
8 oz heavy by the Washington Mint
0.999 pure silver with a gold coat

[Paint Your Wagon]

I got the medal with box and cert for 15% below melt because everybody thought it was
a fake and the vendor was too stupid to copy the certificate and pay for the ebay upload of an extra photo 

[whadda]

That was a nice buy. What is the actual size of the coin and is that layering soft like regular gold? ('One half pound' stamped right on it, that's kinda funny)

[Paint Your Wagon]

That was a nice buy. What is the actual size of the coin and is that layering soft like regular gold? ('One half pound' stamped right on it, that's kinda funny)

There is a certificate from the Washington Mint ( I am more acquainted with the Franklin Mint ) it is 3.5 inches in diameter at 0.999 silver
It is a proof with 24 carat layering (gold equivalent to the canadian 0.99999 so called five nines )
Even looking at it would scratch it
Actually the gold layering makes sense since the silver does not start to oxidize and in this way gold has a usefull function since the price is in the silver and the gold is only an antioxydant protector.

[Paint Your Wagon]

That was a nice buy. What is the actual size of the coin and is that layering soft like regular gold? ('One half pound' stamped right on it, that's kinda funny)

The one half pound is even creazier since it is avoirdupois and not troy

[Paint Your Wagon]

Yesterday very late ; after 10 days of inquiry; I got an answer from the biggest coin house in Paris ( France )
They are willing to sell me restrikes;  uncirculated; marianne roosters for 3.5% above melt
Since our exchange agents are asking 4.05% above melt for XF or better I told them
I was buying .
I think my buying days are ending
Sad 
One ounce coins are 8.02% over melt this morning.

[Paint Your Wagon]

Yesterday very late ; after 10 days of inquiry; I got an answer from the biggest coin house in Paris ( France )
They are willing to sell me restrikes;  uncirculated; marianne roosters for 3.5% above melt
Since our exchange agents are asking 4.05% above melt for XF or better I told them
I was buying .
I think my buying days are ending
Sad 
One ounce coins are 8.02% over melt this morning.

Two ounces are 150 $ more then the maximum non government pension now
at 2000 euro pension limit for non government employees

[Paint Your Wagon]

I am giving away a 287 500 $ to anybody who wants it
I won enough allready  

You are welcome to GT Bank Plc. The payment Bank for the 2010 UN Online
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Online Promotional board, that you are one of the promo winners of
$287,500.00 (TWO HUNDRED AND EIGHTY SEVEN THOUSAND FIVE HUNDRED DOLLARS
ONLY).

Please contact me with this email address only Email: gtaccountdept@w.cn

Yours faithfully

Steve Newton.
 

[Nevol]

I am giving away a 287 500 $ to anybody who wants it, I won enough allready

Hahahaha!!!!!          

[whadda]

PYW? Check out Rainy River Resources Ltd. (TSX VENTURE: RR), reserves up to 5 million ounces of gold and growing, not ready for production yet though. (How's that half pound paperweight doing?)

[Paint Your Wagon]

PYW? Check out Rainy River Resources Ltd. (TSX VENTURE: RR), reserves up to 5 million ounces of gold and growing, not ready for production yet though. (How's that half pound paperweight doing?)

Attention all riverboat gamblers
We had a gold micro high on 13 may
This is a confirmed 30-35 day cycle high in gold and miners
It is unclear whether this is also the nominal 107 day high ( unlikely but possible )
This gives thursday or friday as possible buying opportunity for another 30 day cycle
ending in the 107 day cycle on june 16th

I am low on NG and NGD which in this reaction may come close to their 65 ema

My wife get's too many visitors to have paperweights lying around ; they would oeh and aaah over the goldlike appearance and want one like it ; which since it was only once on ebay since I started watching in 2003 would make it difficult to comply .

[dharmaeye]

Found this guys charts valuable. Also tends to be consistent with other thoughts. That is, Mid June buy till August.
http://astrocycle.net/Gold.php?DIV=CRB

[Paint Your Wagon]

Found this guys charts valuable. Also tends to be consistent with other thoughts. That is, Mid June buy till August.
http://astrocycle.net/Gold.php?DIV=CRB

Thanks for the charts ; this is the first time I see anybody else using 11 months
The 11 and 22 months cycles are the ones seven of eleven and later I have been tracking for 10 years now
The 11 month cycle subdivides in 3 times 107 days alternating with 3 times 111 days subcycles
It looks as if this time around day 107 is on 16 june and is a peak so buying op would be starting around mid july . The way the 11 months are drawn is that the peaks are allright but the lows allways are early or late . So buying in june should be wrong I think .
Selling in june is more like it in order to buy back 30 days or so later ( 1/3rd into the last 107 nominal cycle )

[Paint Your Wagon]

Wow they ramped up all one oz coins to 5% over melt buy and 10% over melt sell 
in cointrafficking belgium

[Paint Your Wagon]

If this was only a 35 days cycle top I think today or tomorrow should see the bottom allready
Osisko is down 16% in 4 days

I will be looking this afternoon at Osisko and Novagold which seem to have the better looking charts in Monthly, weekly, dayly slow stochs ( not as overbought anymore then NGD eg )

[Paint Your Wagon]

Ignoring protest of the UK germany's Merkel has declared naked shorts and CDO's betting agains the currency illigal
Golden Sack is furious
This opens default as a possibility just like China did a while ago with swaps that turned billions against the factory owners
She says it is a war of state against banks and she intends to win by driving the car and not sit in the back of the car like BO who is only offering platitudes but no action . Way to go ; score one on Merkel .

Shakespeare should have said that a banker at the bottom of the sea is a good start

[scottishmoney]

CNN Money has a story predicting gold will be $800 by the end of the year.  Other stories shoot it up to $1500, $1700 in the same period.  Oh the oracles of Wall St. - should I believe the effers who couldn't prognosticate the banking failures?  Uh huh

[Paint Your Wagon]

I have my first goldpeak in 2012 scheduled
I will sent the market an open lettre to let it know my expectations 

Just bought a full position of novagold because it was the first to have slow stochs of 20%
amongst the miners I track
I still speculate that after this brief drop we go higher into 16 june

[whadda]

Unless these countries wise up and issue a new currency interest fee and let all others devalue against it then the bankers win because there is to much debt to do anything else except pay it off for generations to come with worldwide 1% or 2% growth until it's paid off because governments only now how to spend more and tax more which just adds more to the debt total.

[Paint Your Wagon]

I put my money where my mouth is
All in gold and miners now with only emergency reserves left
I should have bought Osisko instead of NG
I would have been up 5% allready
I go for a 16 june high

[OldDan]

Unless these countries wise up and issue a new currency interest fee and let all others devalue against it then the bankers win because there is to much debt to do anything else except pay it off for generations to come with worldwide 1% or 2% growth until it's paid off.

What good is issuing NEW anything, it's all printed by the same people....the bankers are the government and have always been.  Who did you think runs these countries if not the banks???  What is going on now is what's called 'sucking the blood out of the turnip'.
You might want to read (if you haven't all ready done so) the book "The Great Money Myth" by Bob Livingston.

[scottishmoney]

There are rampant rumours rife in Europe now that Greece will either leave the Euro band or be forced out - and that it is printing drachma currency as a contingency.  I wouldn't worry so much about what Greece does or doesn't do, rather it is Italy, Spain and Portugal that can cause the real problems.  Right now Italy's debt vs. GDP is 115% and is actually higher than Greece's.

[TwoShadows]

Those rumors seem to be more factual than false as the stock markets are acting accordingly today. DOWN! Will be anxious to see what this day does to the gold and silver prices!

[Paint Your Wagon]

The rumors are near an impossibility
To force a member out all the other members have to be unanimous in their voting
and that won't happen
For Greece to leave is to hang itself and that would be kind of crazy

The real issue is if Germany would decide to leave ; then the last man standing can switch
off the light

Tuesday is option expiration : until then anything can and will happen

In the meantime the new diversion technique on Television was an american cyclist
accusing everybody and Lance Armstrong of taking drugs and flushing the evidence
out after the race by a bloodtransfusion

Like emperor Nero said ; give them bread and games ( and then burn down Rome if it
does not work anymore )

[whadda]

I'm familiar with the banking system, that's why, let's say, the US Treasury were to issue a new interest free currency and Congress proclaims the IRS will only accept the new currency for payments, that would take the Federal Reserve out of the picture. I understand the banks are intertwined in everyday life but I don't think that is a secret as you can see banks fighting tooth and nail against any bank reforms before Congress today (stripping banks of dealing in derivatives).  Government and banks are not joined at the hip, it's just a mutual understanding until things begin going south. Any better ideas and I'd like to hear/read them.

I said NG swings a lot and if you mis-time it......

All miners getting whacked today with a few exceptions. I have a few oddballs like MYNG.ob and Sabina G&S but I expect them to succumb to this sell off too. Only my SRS rises on these sell offs. Have some low ball bids in on a few options but they haven't hit yet but are getting close.

[whadda]

Wonder what Lance did to win the other 6 TDF races?

[Paint Your Wagon]

I'm familiar with the banking system, that's why, let's say, the US Treasury were to issue a new interest free currency and Congress proclaims the IRS will only accept the new currency for payments, that would take the Federal Reserve out of the picture. I understand the banks are intertwined in everyday life but I don't think that is a secret as you can see banks fighting tooth and nail against any bank reforms before Congress today (stripping banks of dealing in derivatives).  Government and banks are not joined at the hip, it's just a mutual understanding until things begin going south. Any better ideas and I'd like to hear/read them.

I said NG swings a lot and if you mis-time it......

All miners getting whacked today with a few exceptions. I have a few oddballs like MYNG.ob and Sabina G&S but I expect them to succumb to this sell off too. Only my SRS rises on these sell offs. Have some low ball bids in on a few options but they haven't hit yet but are getting close.

The gold option writers NEED gold below 1200 on tuesday
NG is only 5% of my shares but being trained by the american masters of management by results MBR I do not like to lose

[Paint Your Wagon]

Wonder what Lance did to win the other 6 TDF races?

I am a fan of Lance
and I believe all of those cyclists take something
the matter is never to get caught
Landis writing a book and going on TV is despicable

[scottishmoney]

Most Olympic athletes are now taking some performance enhancing drugs of some sort or another.  They do not get caught because the drugs are usually newly developed and not screened yet.  Landis admits to spending $90K a year just for drugs.  Of course they all shoot up testosterone etc, but Landis was even taking some hormones of some sort or another.  Guess he wanted to grow booblets.

[whadda]

I don't like losing positions either but I'm not giving up any shares at this time. With the little bit of money I have left for trading, I'm buying if they are selling.

Landis believed in 'better cycling through drugs' with that you would think he'd have won more races but always felt guilt about racing on drugs to actually win. Needs the money hence the book.

US$ chart dropping today which is interesting with the dash for cash going on. This might just be paper trading where cash is not available to settle positions. More like a computer versus computer thing since trading is 90% computer generated anyway.Yeah, that makes no cents but neither does the markets.

I expect gold wants to be back at least into the lower channel it just fell out of, June sounds good.

[TwoShadows]

Those boobs will kill his aerodynamics! When we look at the world picture it is quite evident the masses let government and banking grow out of control until almost everything was untraceable. For the most part, in my mind, we have not yet begun to touch the real corruption at all levels.
When you mention diversions I can't help but think of the movie "Wag The Dog" which literally disappeared very quickly over here. It is hard to imagine having a very well paying job creating diversions for government but they are there! Great movie and a great eye opener!

[whadda]

'Wag the Dog' is almost to silly to be taken seriously by the masses. The manipulators rely on that type of mentality to maintain control.

The flight attendant I know wanted me to pick her 401k investments so I had her in US paper fund for a couple of years. Now, a self directed account is available so I got her to sign up for trading and took her current fund to cash and just today bought a bunch of miners (needless to say, all the bids hit) and put the bulk in USAGX a mutual gold miners fund and left 5% cash. I might take it back to all cash in June but for the summer I can't believe miners would be worth much less than they already are but anything is possible.

[Paint Your Wagon]

I think gold will be contained below 1200 till tuesdays gold option expiriation

[TwoShadows]

Yes Wag the Dog is ALMOST too silly to believe but.....the masses have grown complacent which we all must agree? It is common knowledge most folks can remain upset for a few days but after that it is business and surviving as usual? This plays well for those in power in any organization, government or religion. I think we all would be shocked if we really knew what was going on!

In my mind the perfect situation would be to finance BOTH sides of every issue. This way you can't lose so you remain top dog, so to speak?

[OldDan]

........ that would take the Federal Reserve out of the picture.

Strange as it may seem, the few Presidents that have even come close to saying anything like this, ended up being assassinated.

[scottishmoney]

........ that would take the Federal Reserve out of the picture.

Strange as it may seem, the few Presidents that have even come close to saying anything like this, ended up being assassinated.

Not Kennedy, he was too busy with his love life to be concerned about trivial Federal Reserve things.

[OldDan]

........ that would take the Federal Reserve out of the picture.

Strange as it may seem, the few Presidents that have even come close to saying anything like this, ended up being assassinated.

Not Kennedy, he was too busy with his love life to be concerned about trivial Federal Reserve things.

You think not? Maybe this will change your mind;
On June 4, 1963, John F. Kennedy decree, Executive Order 11110, and it was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business.

When President John Fitzgerald Kennedy signed this Order, it returned to the Treasury Department, the Constitutional power to create and issue currency -money - without going through the privately owned Federal Reserve Bank. President Kennedy's Executive Order 11110 gave the Treasury Department the explicit authority: "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This means that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation based on the silver bullion physically held there. As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated.

[whadda]

Yes Wag the Dog is ALMOST too silly to believe but.....the masses have grown complacent which we all must agree? It is common knowledge most folks can remain upset for a few days but after that it is business and surviving as usual? This plays well for those in power in any organization, government or religion. I think we all would be shocked if we really knew what was going on!

In my mind the perfect situation would be to finance BOTH sides of every issue. This way you can't lose so you remain top dog, so to speak?

I guess 'passive' is a better word.

Playing both sides with political contributions has us at a one party system at this point in time, run by a sock-puppet.

[Paint Your Wagon]

June 14 we go vote for a new government
Won't change anything since there was a coalition of three parties and now it may be four

We have a central watchdog called the " Chamber of Calculations" they calculated that if the new government wants to stabilise debt they should not make any promisses except the necessity for four years to reduce the pro capita cost by 1000 euro .
This means more taxes and less wages ( normal recipee)

[whadda]

true or not true

[Paint Your Wagon]

true or not true

Our news reported BO saved the american people yet again today
with his second national victory ( medical care being the other)
never again will they have to pay for a bankbailout
What about the FDIC 20 billion in the hole ?

A poll showed today that 51% of the flemish refused to live with a walloon prime minister
So that makes for 49% ignorants or traitors unless they are on wellfare and don't care
where the flemish money is going as long as they get their fix of money

[whadda]

From another board.....

Still no reform for Fannie Mae/Freddie Mac. Congress and America is stupid for allowing this charade to continue.

The regulation issue is of special interest to me, because I served as Lane County, Oregon’s first and only Investment Officer from 1976-1982. In 1979 and 1980 Marian County and the State of Oregon had their cash investment portfolios devastated by investments in GNMA Standby Agreements (similar to derivatives) and U.S. Treasury Forward Agreements. Treasuries and GNMA’s were on the ORS approved list of securities, but these people violated the “prudent person” rule and other basic directions by betting they could turn a long term commitment for a profit in time to meet the short term cash needs of taxing districts.

The Treasurer for Marion County reported a $12 million loss in the year I believe I made $10 million for Lane County. Or rather my investments recovered $10 million in lost purchasing power between the time we received the money, and the taxing districts and the county called for its use. Scary, isn’t it?

In the aftermath the Attorney General David Frohnmayer wrote a legal opinion from the existing statutes, which explained direct accountability, and extended culpability to the host of elected and appointed officials who had oversight of the two treasurer’s work. The legislature would have none of that, and passed a bunch of rules getting the others off the hook. Now we have laws at a national level adopting this same tragic approach.

Before graciously accepting Congress’ and the Administration’s plan to prevent a repeat of the financial crisis, people should consider parallels to the Great Depression. The late 20’s brought an obvious speculative rampage in stock prices. However, the SEC failed to exercise existing regulatory authority to sharply increase cash people put up to borrow money for stock. Next came the Smoot-Hawley tariff, and predictable international retaliatory actions. The bill disastrously exacerbated the damage done by the Fordney- McCumber tariff of 1922. (Remember the United States had the only sizeable economy not devastated by WW I, which could restart international trade.) As recession tumbled into depression, the Federal Reserve decreased the money supply by one third.

FDR’s New Deal policies obscured these true causes, installed unprecedented Federal power, and prolonged the economic malaise. Finally a new world war rescued the country from a slide into renewed economic hopelessness.

This time a new world war could easily result in a nuclear winter and not economic prosperity. However, the Administration and Congress remained undeterred from steps to hide their primary responsibility for the financial crisis. Current hearings and speeches distracted from questions about how a government lead mortgage debacle allowed explosive growth of a market, so entangled amongst participants, as to imperil the financial system. They began by selling illusions about predatory lenders and Wall Street greed, as if greed and predation were not part of the common human condition. Next came “show trials” for Goldman Sachs and others, with final consummation in 1,400 pages of government oppression disguised as financial services reform.

The premier predatory lenders in this story were Bill Clinton, Janet Reno, Barney Frank, Maxine Waters, and Christopher Dodd. They used threats to banks of Justice Department action concerning the Community Reinvestment Act to provide themselves and colleagues with trillions of dollars of “walking around” money for electioneering. The relentlessly severe actions of Congress, and the Clinton and Obama Administrations stilled voices within and without government counseling traditional prudence. On YouTube you can see the 2004 video of Barney Frank and Maxine Waters abusing the regulator informing them of the speculative character of Fannie Mae and Freddie Mac.

Government actions spawned a host of private sector predators among mortgage brokers, real estate salesmen, security dealers, and appraisers, who immediately profited from the decisions of borrowers and lenders bearing the ultimate risk of the transactions. Ordinary Americans were duped into borrowing for homes, when there was no possibility of making payments leading to eventual ownership. Private lenders became increasingly anxious and used Fannie Mae and Freddie Mac as a dumping ground for sub-prime, high risk real estate loans politicians coerced them into making. When mortgage portfolios continued to increase in risk, politicians turned a blind eye to explosive growth in the derivatives market, which was used in attempts to mitigate perilous lending positions.

Derivatives are not that exotic. Regulatory oversight routinely controls hosts of investments best understood as potentially lucrative wagers in commodity, stock, bond, and insurance markets, where one receives a tiny current income compared to huge potential future loses. The derivatives market produces a pseudo-financial instrument once removed from the grouping of mortgages used to create a bond. Derivatives attempt to transfer to others for a price the risk associated with these mortgage pools. Elegant and esoteric descriptions cloud an economic reality similar to accepting $5,000 for co-signing fifteen auto loans, and being at risk for $210,000 if they later go bad.

Effective regulations and effective oversight would have focused on economic risk attributes, and not on marketing schemes and legal jargon hiding the character of investments. Proper government intervention would have meant Federal Reserve, Treasury, and Justice applying brutal persuasion to private firms, including those so pretentious as to claim they were “too big to fail.” (Can we say Freddie and Fannie?) Persuasion, approaching condemnation by the Geneva Conventions as torture, would have ensured suspending any cascade of financial losses, further enabled mergers and bankruptcies, dismissed flagging management, and produced market clearing asset prices. As the dust settled, there would be no bailouts, and ownership would remain wholly private. Bankruptcy proceedings would have been modified such that board authorized compensation for the current and several prior years, including performance bonuses and “golden parachutes”, would have been recovered for bankruptcy assets.

There is little hope now in controlling financial markets when regulations do not drill down through these political, legal and marketing facades. Regulation reform as passed remains nothing more than an exercise where the current political/private cohort in power protects themselves, destroys competitors, and establishes parameters to game the system in the future.

4 posted on Friday, May 21, 2010 1:38:44 PM by Retain Mike

[OldDan]

On June 4, 1963, Executive Order 11110, was signed by President Kennedy declaring the privately owned Federal Reserve Bank was out of business. The Law has  been exhaustively researched through the Federal Register and Library of Congress. It can now be safely conclude that this Executive Order has never been repealed, amended, or superceded by any subsequent Executive Order or  act of Congress. In simple terms, it is still valid.

http://www.john-f-kennedy.net/thefederalreserve.htm

[dharmaeye]

Hope this thread does not die.
Have not heard from August since his wife's dog died.
Expecting a very sharp drop in most things this week.

[Goose]

Will oil stocks drop other than B P?

[whadda]

I think everyone is just waiting for the next shoe to drop.

In a deflationary environment prices go down. It takes time for all the excess credit/money being created to filter to the consumer and when it does prices will begin climbing along with taxes. Also for this banking system to function it needs constant consumer demand for new loans. If consumers hunker down (save and/or payoff debt) banking comes to a stand still since no new money is being requested for consumers, no new compounding interest and fees can be charged to add to the banks bottom line to cover existing bad bets coming due. Real estate is an good example as people can't afford loans for housing let alone trading up to a newer home like when the economy is in gear.  RE continues going backwards with values still falling putting the hurt on existing mortgage holders and their banks of course unless they lie about values but that will catch up to them eventually when net worth is less than the original loan amount and is finally realized.

It will be interesting to see if 'sell in May and go away' applies this time around. Spot gold could continue on up with the miners lagging until August but these are interesting times and anything could happen according to Murphy's Law. Certainly applies to the Gulf of Mexico.

As long as the US$ is up, keep a larger amount of cash on hand until is finally pukes. Buy physical gold if you can afford it. Have to rely on charts in the short term for miners and spot gold.

[OldDan]

I think everyone is just waiting for the next shoe to drop.
As long as the US$ is up,............

This in my oppinion is the 'linch pin' and when it reverses, Katie bar the door!

[Paint Your Wagon]

Hope this thread does not die.
Have not heard from August since his wife's dog died.
Expecting a very sharp drop in most things this week.

Tx ; am not sure
Wife and I morn
High is in 30% chance or 16 june or later 70% chance
Anyone thinking me awol can email me

[Paint Your Wagon]

Goldman bet 35 million against Cali

http://www.ft.com/cms/s/0/2aa89fe6-702d-11df-8698-00144feabdc0.html