Oldtent Archives 2009

Today and tomorrow is a great to live…..please everyone reading enjoy.    smile

I felt sorry too, since I broke my own rule that it is not a good idea to engage in conversation with Americans about religion, politics, guns, or military/CIA use of torture in their international operations. I apologize to Goldtent administrators for bringing up the subject of guns on this excellent website.

For your information, Margaret, I am not anti-gun, nor do I discredit the use of guns for self-defence or for defence of private property where that is need. We are blessed where we live that, up to now, residents where we live do not need to own guns for this purpose, but I understand that conditions are different in other parts of the world.

What I was questioning in my posting 24 hours ago was based on the posting by floridagold that “a billion or so guns were in the possession of an increasingly angry American population”. My innocent question was if you are angry who are you expecting to shoot at, with this large personal armament? One billion guns works out to 3.33 guns per capita for every man, woman and child if one assumes an American population of about 300 million residents. My background is from a farm family of 7 people (me, 4 siblings, and mother and father). We needed no self defence or property defence where I grew up, so we did not own guns for that purpose. The seven of us shared the joint use of one 12-guage shotgun, a .22 rifle, and a 30-06 rifle, which satisfied all our hunting needs for waterfowl, upland game birds, pronghorn antelope, white-tailed deer and mule deer. That gun ownership worked out to less than half a gun per capita in our family unit.

That background is what leaves me wondering what is the role of the assumed 3.3 guns per capita for the U.S. population. As Deadeye points out at 10:06, individual gun collectors will of course have higher than average gun ownership, and that is understood and not questioned. It is the 3.3 guns per capita (of the total population) that surprised me, a per capita number that would be even higher if one did not count children as part of the 300 million population.

Anyway, end of this topic for me on Goldtent. I just wanted to explain to you why I was wondering. Cheers. Equiz.

i sit here …smiling…put a log on the fire sir….the complexity….i have always been intrigued….why would a all masterful God select one ….race of.”walkers”….over the others and give guidance we were all equal…as you have witnessed…i never become too ….long winded …in the contributions i share….smile

Mr, Deadeye ..i would be honored to have shared with you and friends the debate of never ending …

we all walk on our journey of life ..still never really comprehensively, without doubt,  knowing ..very much… so to say……smile. Many  old  ones ( old ones you can define and look into history)become gardener’s…tell lies ( embellish)about their past…create great monuments…parks …trust funds…ship named after them…if the old truths were really recorded and shared….you be the judge…silly simple statement…

Of course this starts all sort of church flack, and a smart man once said; stay off of religion and politics, but when was I ever smart?
The earth is old. From Adam to here ain’t the age of earth.
If ya look at Genesis close, re-creation is a more accurate interpretation.
It goes on to say, without form and void, er somethin close to that, again, a more accurate take is, became without form.
Ain’t sure why the book of Enoch was left out of the Bible, but it is an eye opener; Jesus referred to passages from Enoch, so…. leaves me to wonder. I’ll shut up now.

sitting around a hundred campfires and pot-belly stoves over the last 75 years. Very pleasant memories of gone friends and good times. Goodnight all, Deadeye

Apparently.

Logically speaking, all religions are wrong.  There are, what, five major religions, (Xianity, Islam, Hindu, Buddhism, Shinto, Judaism maybe), each split into different sects (Catholics, Protestants, Sunni, Shi-ite etc.) which in themselves are sub-divided (Greek orthodeox, Russian orthodox, Ethiopian orthodox etc.), plus hundreds of minor, local religions (animists, mormons, goldbugs etc.).  Say thirty major groups, each believing fervently that they alone have the true religion, and worship the true and one and only god (or set of gods) and anyone who doesn’t is going to hell (or, not heaven, anyway).  Of those thirty, only one could be correct - so logically none of them will be.

I see absolutely no conflict between the Bible and evolution. Again the Bible was written so uneducated people of the time could relate and believe. Even now some know more and can believe things that others can’t. No conflict, simply a matter of understanding on different levels of education.
We all understand the Bible has been revised and edited by monks and prists and counsels over the centuries. Infailable decrees of Popes have been proven wrong and revised. Nothing wrong with that, just new information. Once a Pope said the earth was 6,000 years old. Y2Kdon, I wonder what the official date was of man’s creation? How do you know? How many years ago if not a million or so? Does it really matter if it was 6,000 years ago or two million years ago? I think not. By the way was six days still 24 hour days back when the earth was created or some other time period? How do we know?
One other point I will broach as we wait for $5000 Gold and that won’t be measured in Eons. Think deeply about what we believe about the individual religion of goldbugs around the world and how and why we believe what we do? A very profound and important question. and I will give you my answer that is eloquetly written, “Religion, An Accident of Birth” by Charles R. Hurst MD.
The thesis is simply we are overwhenmly of the religion we were born into. Nothing to do with reasearch are rational decisions, we are mostly what our parents and or peers trained us to be. If you had happened to be born of Moslem parents, you would be moslem and have just as strong beliefs as if you were born a Hindu or Christian. Think about that deeply. Seems rather simple and profound to me.
I was never able to understand why various religions believed you had to be of their faith to go to heaven or of any faith for that matter if one was a good person. OK Wanka, you were right, I should have been talking about the fifth deminsion for less controversy. Deadeye

The audit….can not happen ..will not happen..shall not happen..under the existing power structure. To allow honest trusted men to audit the “existing books of fraud”…in THEIR system.

I always enjoy your spirit…. my friend…the door is not about to be opened or shared…under the lawless, corrupt, greedy….need i continue…how about …audit the Fed..really Fully ..you are a wise man ….truthfully…..how many of your friends understand what you endeavour to share here?Another sad and insightful comment,,,if and when you share this insight with them …not tent crew..smile…they go hummm…green label or yellow ..Australia you say…gold label or the fine blue nectar of scotch… walker you say?

or the 401 was just miserable…this morning …but i enjoy your smile…….

than an eternal God?

Random molecules - not.  Consider the building blocks of life -  DNA has four component blocks, each one a simple combination of three (H, N, C) or four (H,N,C & O) elements.  The sequence of these blocks results in the variety of life.

The mechanics may still be complex, but no where nearly as much as most creationists portray (I know some seriously fundamentalist creationists!).  They often use the “monkeys typing Shakespere” analogy; it is totally OTT.

Many greater minds than mine have debated this circle for ….one fine mind here mentioned a million years ( engineer…he mentioned)……the earth with 5 trillion years of approximate history.

I would suggest…it is a human thing to quest…..but i digress.

One of a thousand confusing thoughts have passed in my journey of faith/education/reading/growing older/living and endeavouring to understand….

so many questions….here is one the tent whom wish to bonce the ball….so to say.

we all recognize …well again an assumption, that somewhere between 10,000 BC and 5000BC we became special….( i actually marvel at the term special…so abused and so very destructive in history..regardless i am losing my train of thought…and the simple point ….we became US……. KISS.

Now ..coming to a real challenge for me…. at the edge of nowhere or everywhere …an ancient wonder was created…the site i am referring to is the three commonly referred to a great complex anomalies  …the three pyramids of Giza. Ok, i heard the “so what” from here…..smile…now comes the Thing about them which has always created the real seed of what is ..and what is it …….we do not understand.

continuing.. the geophysical impossibility of their engineers to create the structures is one we all hummmmm…but the very seldom mentioned fact  that these structures are so constructed to be precisely north/south…they had the knowledge to understand and built this in the same time frame ..so history tells us but could built a boat….with shit. ever really looked at the famous.craft.ever really looked at the crafts which dated back to the same time frame as history parallels with the construction the three pyramids…what with the north and south near perfect alignment….please …do not give the simple sun story and .sit back and think before you speak….you really have to think…North south. east and west…not the magnetic nonsense..

my point ….we really do not know the facts….now we all could start by discussing the Sumerian race…..what does this have to with gold…it is just a comment..smile ..some my wish to translate may thoughts some may wish not to…. a chosen race…well …i do not walk that path myself but…every man and woman is free to dream …so to say

i would worry..when we think we are special….there are many fools on wally street thinking along these naive threads today…controlled by others who really believe it…..hum

Fractal Gold Report for August 25, 2009

By David Nichols
dnichols@fractalpublishing.com

First off, we’ve been experiencing sporadic trouble with the e-mails that notify you when I’ve posted the latest report. So if you don’t get the email, please just proceed to the site as usual, as I have no plans to miss any reports over the coming weeks. I will be posting at the regular time after the close after every trading day, whether you get the e-mail or not. We are working on fixing this problem, and I apologize for any inconvenience.

Gold dropped back down to consolidate Friday’s sizeable rally, but the move back down was a bit more robust than anticipated. This is not a rally-killer by any stretch, as it is probably just a hard test to “set-in” the new rally pattern.

The move back down was not surprising, as this is typical, but I would have preferred to see an instant upside reaction off the $940 - $944 energy zone.

However, on the weekly chart there is a very long and lingering equilibrium pattern that stretches all the way back to the Feb. top at $1,007, as there have been broad oscillations since then that are slowly-and-steadily losing strength. This move down looks to be one of the final oscillations in this long pattern.

This sort of oscillating equilibrium-seeking behavior is a fascinating phenomenon in markets, which plays out on all charts and all time-frames. Again, it’s exactly the same thing as a ball bouncing successively lower and lower after it’s dropped, as it seeks equilibrium, which in the case of a bouncing ball means resting on the floor.

It’s also interesting to notice that each successive bounce of that same ball is limited by a down-sloping boundary line, and if you plot this out in 2-dimensions it looks just like a triangle — precisely the same thing that happens in markets.

Animators are aware of this phenomenon, as the “bouncing ball” animation is apparently part of early skill development in this field.

The fact that this same equilibrium-seeking behavior plays out in markets seems so obvious when you are clued-in, but almost nobody has connected the dots on why this happens, over and over again. But ultimately that’s a good thing. We don’t really want too many people poking around in our neck of the woods.

Over the next few days we need to see a nice “slingshot rebound” off this hard test back down, to know the rally pattern is still on track. Sometimes a market will linger a bit on the test, which may happen in this situation because of the weekly consolidation pattern, but ultimately this is exactly the sort of hard test that leads to a definitive breakout.

All along I have been anticipating that $990 would be the difficult level to penetrate, but it appears now that $960 may be the key level. There is so much pent-up energy after this multi-month consolidation, and it is getting ready to unload to the upside.

It would also be logical to think that we’ll have to wait until September 10th to see this definitive break right around Day 43 for the cycle — but there is so much energy here as gold approaches the “still-point” that the break could come at any time.

We’ll know it when we see it, as when the new surge of energy hits gold will jump higher and not look back.

Help Save Our System

Please clink on the link below, sign the petition and then use the feature to send a letter to your House Rep and 2 Senators. It takes about 5 minutes to do all of the above. Anyone who doesn’t at least express their view about auditing the Fed is committing a sin worse than not voting.

www.auditthefed.com/

This is at least worth a try. Please forward to those who care.

Adrian has some keen insight on the unintended consequences on the latest from the CFTC…

Bill,
The Wall St Journal article today by Brian Baskin really takes the biscuit!

online.wsj.com/article/SB125089891247450703.html

“U.S. regulators have begun targeting the big-time speculators suspected of artificially inflating prices for oil, natural gas, and gold”

Isn’t it amazing that GATA received no comments or enquiries from any WSJ journalist about the advertisement in their newspaper that GATA placed last year categorically stating that our evidence shows that gold prices have been suppressed yet one of their journalists can go on record that gold prices have been artificially inflated! The Cartel must be getting desperate with this blatant misinformation.

As I have said before the first sign of inflation and hyperinflation is that governments try to put in place price controls. The CFTC is in effect doing this by going on the war path against long side investors. In a perverse way this is great news for GATA. What they will achieve is more Greenlight Capital events. Investors will increasingly turn to buying bullion as the CFTC clamps down on the long side futures and ETF investors. Nothing could be better for ending manipulation than the CFTC causing a stampede into physical metals. The result may be even more dramatic than anyone can imagine because clearly institutional investors and large and small private investors will not buy physical grains or crude oil. This may mean that the simply massive amount of capital that has entered commodity ETF’s may exit and go into buying physical bullion! The CFTC wants to stampede the herd but they may not realize to where they will run.
Cheers
Adrian

Saturday, August 22, 2009
Why Won’t the Fed Show Us (the Taxpayer) Our Gold?
For some reason, Ben Bernanke and the Federal Reserve have decided that they do not need to show the world, and especially all the inquiring U.S. Taxpayers, proof that the U.S. Mint holds in physical custody the 8100 tons of gold that the U.S. has been reporting going back to the Bretton Woods Treaty signed in 1944. The last time a genuine independent audit of the 8100 tons was performed was when Eisenhower was President.

The question is raised then, how come the Federal Reserve is putting up a formidable legal blockade in order to prevent GATA (the Gold Anti-Trust Action Committee) from gaining access under repeated Freedom Of Information Act inquiries? Wouldn’t everyone reading this like to see, for sure, that the 8100 tons really exists? This is OUR gold folks.

Here’s a link to the latest attempt by GATA to force the Federal Reserve to show proof to the world that the United States’ gold holdings is bona fide:

Please Ben, Show Us Our Gold

Undoubtedly, this issue among several, are the reasons why the Fed hired the former Enron chief lobbyist, Linda Robertson, and is spending millions to fight the attempt of Congress to force an audit of the Fed. At last count, Ron Paul’s HR 1207 had 282 co-sponsors - and Barney Frank is sitting on that Bill in Committee and it would overwhelmingly pass a Floor vote - and Bernie Sander’s similar Bill in the Senate now has 23 co-sponsor’s. Moreover, polls show that 75% of all Americans would like to see this Legislation passed into law.

Here’s my compromise: forget the full audit, just show us our gold. What are you trying to hide Ben?

-END-

GATA presses Fed to give up its golden secrets

Submitted by cpowell on 09:02PM ET Friday, August 21, 2009. Section: Daily Dispatches

12:01a ET Saturday, August 22, 2009

Dear Friend of GATA and Gold:

Yesterday GATA’s Washington-area law firm, William J. Olson P.C. of Vienna, Virginia — www.lawandfreedom.com/ — filed with the Federal Reserve Board an administrative appeal of the Fed’s most recent refusal to grant us access to the agency’s records involving the U.S. gold reserve.

By letter dated August 5, the Fed reported to us that 137 pages of documents being withheld “contain the following kinds of exempt information: ‘trade secrets and commercial or financial information obtained from a person and privileged or confidential’ (confidential commercial information); and ‘inter-agency or intra-agency memorandums or letters which would not be available by law to a party other than an agency in litigation with the agency’ (staff memoranda, draft memoranda and letters, and intra- and inter-agency communications). Such information is exempt from disclosure under authority of Exemptions 4 and 5 of the [Freedom of Information] Act, respectively, 5 U.S.C. 552(b)(4) and (b)(5).”

We construe this as an admission that the U.S. gold reserve has been put into private hands to some extent or has been compromised in some way by possession by private interests, such as financial houses that trade in gold. Really, why should any Federal Reserve record involving the national gold reserves be confidential, except perhaps records involving the most ordinary security of the reserve’s vaulting? Plainly the Fed has knowledge of something that has been done with the gold reserve that the U.S. government does not want the American people and the financial markets to know.

Further, GATA’s administrative appeal notes, the Fed’s search of its records in response to our request was negligent, insofar as it did not cite at least one document involving gold swaps that is posted and publicly accessible at the Fed’s own Internet site. That is, it seems that GATA’s lawyers looked harder for the relevant documents than the Fed itself did.

It strikes GATA as remarkable that the financial market commentators who most often disparage suggestions that central banks are intervening surreptitiously as well as openly in the gold market never have tried to put a critical question about gold to any central bank. Even big financial news organizations have failed to do this when reporting on the gold market. But if they ever did start asking critical questions, they would have to report that the Fed has some big secrets about gold. It is more justification for U.S. Rep. Ron Paul’s legislation to audit the Fed.

You can read GATA’s administrative appeal of the Fed’s denial of our freedom-of-information request here:

www.gata.org/files/GATAFedAppealLetter-08-20-2009.pdf

If you would like GATA to continue pressing issues like these, please consider making a financial contribution. Since GATA is a federally tax-exempt civil rights and educational organization, contributions to GATA are federally tax-deductible in the United States. Information about donating to GATA can be found here:

www.gata.org/node/16

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc

By Julianna Goldman and Michael McKee

Aug. 24 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke, who led the biggest expansion of the central bank’s power in its 95-year history to avert a second Great Depression, will be nominated to a second term by President Barack Obama, according to an administration official.

Obama will make the announcement tomorrow on Martha’s Vineyard, where he is vacationing with his family, and Bernanke is expected to join him, said the official, who spoke on the condition of anonymity. The nomination requires Senate approval. Bernanke’s four-year term as chairman expires Jan. 31.

Bernanke, 55, slashed the main interest rate almost to zero, pumped $1 trillion into the banking system and led rescues of Bear Stearns Cos. and American International Group Inc. He now must guide the world’s largest economy back to growth and reduce unemployment approaching 10 percent while shrinking the Fed’s balance sheet to prevent a surge in inflation.

“He did whatever was needed to be done to actually prevent a depression, and he’ll do whatever needs to be done in terms of preventing inflation,” Frederic Mishkin, a former Fed governor and research collaborator of Bernanke’s who is now a Columbia University professor, said in an interview with Bloomberg Television in Jackson Hole, Wyoming.

The Fed chief also faces threats to the central bank’s independence from members of Congress who say he overstepped his authority as he battled a crisis that froze credit markets and led to $1.6 trillion of writedowns and losses at financial firms. Bernanke was criticized as too slow to respond to the housing slump and for calling the crisis “contained” before reversing course in August 2007 and cutting interest rates.

There was a very unusual PM market action today. We are 2 days away from the SEP Options expiry which occurs on 8/26. Option expiry always has the corrupt Cartel hammering down the metals to try to take Call options out of the money. But today’s action was bizarre in that it happened 30 minutes before the COMEX close instead of the usual bashing on the COMEX open. On a casual look this appears to be the same old market manipulation but there is something brewing. The London fixes came in strong indicating high physical take-off (AM Fix $953.75 PM Fix $951.50). On Friday I brought to your attention that AUG and SEP gold closed at exactly $953.2. In other words ZERO contango! There was only 40 cents of contango between AUG and OCT gold. Today AUG and SEP gold closed at exactly $942.3 which again is ZERO contango. The contango between AUG and OCT gold narrowed to just 10 cents from an amazingly thin 40 cents contango on Friday. Gold is again within a gnat’s whisker of going into backwardation. This is a very significant development and flies in the face of today’s take down of the price. The two consecutive closes of zero contango show that Friday’s close was not an aberration. On the contrary, this is indicating there is a growing physical shortage. It looks to me that today’s bizarre attack (even by Cartel standards) smacks of real desperation.

A disappearing contango in gold is no trivial matter. Stay tuned, this could take many pundits by surprise.
Cheers
Adrian

INO.com Headlines

Obama To Reappoint Bernanke As Fed Chief

7 minutes ago
(RTTNews) - Obama To Reappoint Bernanke As Fed ChiefFor comments and feedback: contact editorial@rttnews.com

this minute
(AP:OAK BLUFFS, Mass.) Source tells The Associated Press Obama will nominate Fed chairman Bernanke to a second term.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

jessescrossroadscafe.blogspot.com/2009/08/why-is-fed-creating-excess-reserves-in.html

I have had a Dillon Precision calendar for the past few years. I have to say that my life has been enriched by those beautiful models holding a firearm and sporting a big smile !! Yep, it helps get my day going each morning……..

the pain and suffering of the little children….oooowwww.. wj

…..somebodyput these Financial Engineers out of their Misery !

…Sheesh