Oldtent Archives 2009

I should be there by next Sat night or Sunday morning…my U.S phone will be active Thurs. I will let you know….

What you have said interests me. Today the POG in NZ$ is $1440.  This might look high, but it’s not nearly as high as it was some months ago when our dollar was lower. Many think that the US$ is going to spiral down and of course our POG will then do the same unless our $ drops as well.  My question therefore is this: If the US$ drops to a very low level, would  other countries have to consider revaluing their own currencies?

This being the case, if the US$ drops, it seems to me that other countries will object to gold being measured in US. Or am I on the wrong track?

When are you scheduled to be in the Windy City?

I am referring to current Kitco news headlines that say “Gold rises as dollar slips”. Assuming the quoted headline is referring to US dollars and not Aussie, or New Zealand or Canadian dollars, it really is quite a moronic headline since gold is still internationally priced in US dollars. Of course the value of an ounce of gold will go up when the US dollar index goes down, if the US dollar is the unit for measuring value ! Or if the purchasing power of the US dollar goes down generally. But I still see Goldtent postings talking about or predicting that the US dollar index has reasons to go down and therefore the price of gold has reasons to go up accordingly. Well I guess so, as long as gold is internationally priced in US dollars. I think though that the days are numbered for this to be the case, since important parts of the world will eventually realize how silly it is to have anything measured internationally in US dollars. Cheers. Equiz.

Do what you can for her…..darn….

One of the school mothers died recently, breast, bone, liver, bone again and finally liver again.  Fought all the way with radiation and chemo, to be there as long as possible for her five children.  Wonderful lady, the school roadside sign said it all after she died - “She never complained”.  Everybody knew who it meant.

Your friends’ wife must have had something earlier, though, breast cancer?  Incredibly unusual to get three out of the blue like that.

I’ll see what they can handle. My best friend’s wife was diagnosed with all three this past week. He is devastated and I know nothing about this other than chemo is a death wish.

Mother of four and not a bad bone in that body of hers.

Thanks for the advice.

That’s an inspiring list JBI….Thanks for sharing it! Maybe worth printing and framing a copy for my desk as a reminder of truths those of us here think are of great importance. Long live GoldTent!

All the best my friend.——–aggie.

I’m supposed to feel sorry for the homeless person who has stolen a $500 Walmart shopping cart, put all his (or someone elses) worldly goods in it, and is walking down the highway/road/street with it. Excuse me if I don’t think the police that drive by many times are not aware that that shopping cart is stolen…. so why don’t they do something about it??? Not meaning to pick on the homeless person but isn’t theft, theft and the law the law??  And in probably 99% of the cases of homeless people, they have “chosen” to be in the state they find themselves in… chosing drugs and alcohol over  health and productive living. Then next that person OD’s on drugs and/or alcohol and in Canada gets a free ambulance ride to the hospital, free medical treatment…. even ICU and even sometimes at the expense of hundreds of thousands of dollars to the system to pull them through…. and the homeless person does not even belong to one of the medical plans…. and then, once the system has brought him through the crisis he is discharged from the hospital so he can go back and do the same thing all over, and over, and over, again. Is there something wrong with this picture??… or am I just an uncaring and over reactive person that has worked hard my whole life to get what I have and am a little “nettled” that I am paying for a system that supports such abuse, but the system does NOTHING to try to  improve these homeless people other than save them so they can be put back on the street again. Sorry if my thinking is kind of skewed but IMO this is a hopeless waste that is fast going to break the system. Rant Over!!

On the launch pad - but we have not reached count down at this moment.  The one thing I am sure of is that there are enough economic numbers coming this week that everything could be whipsawed numerous times.

http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm

Silver’s stoch K line is back above 80 (84.92) and price has made a clean and quick breakout above the 3rd fanline… (14.09 high so far)

The dollar stoch k line is back below 20 (16.89) even though it is back up to 78.355

Gold is being capped below 960 as usual but 957.5 ain’t bad at all…

I gotta hunch we are heading back into embedded territory for all three and that is what will take us to 1K gold in short order…

Very exciting so far…

Frostbite @ 18:20 pm on August 2, 2009: absolutely!

Frostbite @ 18:45 pm on August 2, 2009: yeah well…..what do you expect of the entity known as a human being……..?….>>>

Samb @ 19:25 pm on August 2, 2009 ; I would add capscium…………

Good Luck everyone….!  still……………

buymore

By Bloomberg News

Aug. 3 (Bloomberg) — A second man died of pneumonic plague in northwestern China as authorities quarantined a town to stop the disease spreading.

The 37-year-old man died yesterday in Ziketan in Qinghai province, the official Xinhua News Agency reported. He was a neighbor of a 32-year-old herdsman who was the first person in the town to die from the disease, according to the report.

Ten other people, mostly relatives of the herdsman, are being kept in isolation and haven’t shown any symptoms of fever or coughs, Xinhua said. Local health authorities are disinfecting the area and tracking those who came into contact with the patients, it said.

The quarantined area is adequately supplied with necessities and people’s lives are “normal,” the local health authority said in a statement two days ago. Ziketan, in the eastern part of Qinghai, has a population of about 10,000 people.

The local health department warned that anyone who has visited Ziketan and the surrounding areas since July 16 and has developed a fever or a cough should seek treatment at a hospital.

Pneumonic plague is spread through the air and can be passed from person to person through coughing and contaminated articles, according to the World Health Organization. It is caused by the same bacteria that occur in bubonic plague — the Black Death that killed an estimated 25 million people in Europe during the Middle Ages.

If diagnosed early, bubonic plague can be treated with antibiotics. Pneumonic plague is one of the most deadly infectious diseases and patients can die 24 hours after infection, according to the WHO.

just maybe ‘this is it’! wj

We be beating our heads against the ceiling or close to it curently- IF - we can break thru :

Gold 960, Silver 14.10 and take out the recent highs in HUI - XAU - GDX

wj

http://tinyurl.com/ldf2xq

The Wonder Rally
Yesterday I ran into a friend of mine, who is, without the slightest exaggeration, one of the most important persons in the derivatives industry. He was brought out of retirement to try to sort out the mess and works for one of the nation’s largest financial institutions, where he continues to labor despite being vilified wholesale by politicians about the compensation he receives.

Quoting its author, chartoftheday.com…

“Today’s chart illustrates how earnings are expected (38% of S&P 500 companies have reported for Q2 2009) to have declined over 98% since peaking in Q3 2007, making this by far the largest decline on record (the data goes back to 1936). In fact, real earnings have dropped to a record low and if current estimates hold, Q3 2009 will see the first 12-month period during which S&P 500 earnings are negative.”

While anecdotal, I spend a lot of time talking to merchants, real estate agents, and anyone else whom I bump into who is engaged in providing goods and services to the consuming public. Right across the board, the message is the same – namely that sales stink and that they are managing to survive only by cutting expenses. Even the owner of the local hardware store tells me business has never been worse, so I guess people aren’t even bothering to fix up their homes anymore. And a close friend in the real estate sales business for over 30 years says she has never seen anything remotely close to how bad things are at this moment.

Jumping upwards to the national picture, some companies are indeed reporting better earnings than anticipated by various analysts – the news of which has, of late, sent their stocks satisfactorily higher.

But it’s important to recognize that there are three things at work here. The first is that, having been caught with their proverbial knickers down by the first big leg down in this crisis, analysts dramatically revised their earnings forecasts downwards for virtually all the companies on their watch lists. Thus, given the decidedly lackluster expectations, it’s relatively easy for a company to “outperform” those expectations. And secondly, as per above on a local level, much if not all of any gains in profitability are the result of slashing overhead (read “workers”) and not a pick-up in sales. Finally, as you can see in the chart above, in no sense are the earnings being posted anywhere remotely close to prior levels.

And so the situation today is comparable to changing the grading curve for a class of students so that managing to drink water without slopping it down the front of your shirt would earn you a hearty “Well done!” and a passing grade. That several students subsequently get one or two answers out of ten answers correct is, therefore, cause for the whole school to gather together for a celebratory punch party.

While I may sound like a broken record, I – and the entire Casey Research team – remain convinced that what we’re experiencing here is nothing more than a beautifully set bear market trap that is allowing insiders to dump their shares as quickly as they can be dumped. Don’t buy it.

The number of those who think and feel like you is beginning to grow by leaps and bounds, I believe, with many of the “originals” found right here at our tent.

“Here comes the judge.”

JBI

http://www.mybudget360.com/fdic-loan-report-and-plan-c-nearly-half-of-the-77-trillion-in-loans-outstanding-at-fdic-insured-banks-are-in-the-form-of-commercial-real-estate-usps-contracting-cre-space-drop-in-restaurant-tr/

I guess commodities are DEAD… well wait a minute ….Soybeans are up over 1.65 in three days …exploding already for 40 cents again tonight..hmmmmm…RNO the soybean “tell” will lead the way …methinks were in business guys….

That’s a great list of truths, and places the responsibility right where it belongs. To HELL with “a chicken in every pot”. It should be “anything works if you do”, or “a days pay for a days work”. I’m pretty fed up with all the handouts, bailouts, giveaways, free rides, free lunches, etc which is simply take from those that do and give to those that don’t. We need every individual to once again take responsibility for their actions, and reap the rewards, or pay the consequences.

anything on lamp posts?
wj

* PRECISELY *

Amazing, isn’t it?

Those words have been incorrectly attributed to Abraham Lincoln, but “the quotes were published in 1942 by William J. H. Boetcker, a Presbyterian minister. He released a pamphlet titled Lincoln On Limitations, which did include a Lincoln quote, but also added 10 statements written by Boetcker himself.”

God, help us all, please.

JBI

Reads just like the play book being used now -  we are doomed!