Oldtent Archives 2009

on the road again in CO and do not have easy access to a computer.

Back in Denver this weekend, and plan to settle back in for awhile this time.

Look, guys, I never said that people who did not have guns or who had not fought for their freedom with guns were any less free - just that freedom meant more to them and they would most likely be more willing to fight again to keep what little freedoms we have left.

where is the freedom movement in Australia? NZ? Canada?UK? Etc etc etc. Not denigrating these countries nor their citizens, merely an observation that when you have to lay your life on the line to OBTAIN your freedoms, those freedoms mean a lot more to the ones that fought for it.

Second: the Swiss. No doubt that money played a part in Hitler’s decision not to invade. I also agree that Hitler was a meglomaniac. The penultamate egotist. Yet like most people with these flaws, he was simply a bully. He never attacked a strong country. He invaded russia because he saw them as weak. What saved Russia was American supplies.

He and his generals were smart enough to know that no matter what they did to invade Switzerland, it would be a bloodbath for the Germans, and for no good reason as far as strategic advantage went. And I do agree about the importance of money. But you will never convince me - nor the Swiss from what they told me when I lived there - that the armed citizenry was not the major deterrent.

Glad the post brought about the many contributions and comments. If we do not use the 10th amendment and use grass roots to reign in the Feds, we are all dead. It is the only thing that can stop that encroachment - no, the stealing and crushing - of our freedoms. Death to a strong central government through the assertion of states rights. Period. We lose that, and all is lost.

The derivative position of the four Aussie banks is utterly woeful.

….The Cyber Gods are messing with us….

gold and silver are moving up from their rpw buys from mid july. remember to go with the second breakout from the triangle.

rno

www.gfmag.com/tools/bank-rankings/2341-words-50-safest-banks-2009.htm

Canadian banks that CIBC also did not make the list in that article of good things to say about Canadian banks. In my opinion, that is as it should be. I have for a long time held CIBC in scorn for some of their past foolish international investments that blew up in their face. Although I like Canadian dividend-paying banks as good conservative investments for a Canadian senior citizen, I would personally never go near CIBC with any of my investment money. Cheers. Equiz. p.s. the link at 22:07 can now be opened, whereas it was incorrectly posted a few minutes ago.

at bottom of article ….. but I don’t deal with CIBC anyways.   Thanks. 

….click the link at the bottom…its not in the top 30 butits in the top 50…no need to go out and transfer your account to Royal

….is gone…..says no longer available….can you repost it ?

…very stange…

….did you really buy one….where ?

Interesting that CIBC wasn’t included in the list …. the other major Canadian banks were.  

Fractal Gold Report for August 28, 2009

By David Nichols
dnichols@fractalpublishing.com

Another late summer day, and another mildly bullish consolidation day, as gold works itself to a standstill as the big weekly consolidation pattern hits the end of the line.

I can’t recall ever seeing the energy drain out of a market to quite this extent, at such a perfect place for it to happen. It’s remarkable that a market as volatile as gold could get stuck between $944 and $960 for this length of time — about six weeks and counting at this point.

I discussed this briefly yesterday, but I want to reiterate — because it’s so important — that right now gold is in the process of weeding out those who are frustrated and impatient with the lack of progress. The mistake is to interpret this sideways action bearishly, instead of looking at it as a precursor to the third — and biggest — rally phase for this parabolic growth pattern.

Even though August is not quite done, it does not appear that the latest monthly candle will look much different than it does right now. At this stage of the growth pattern, such a tiny “doji” candle is definitely not bearish, especially when surrounded by so many white monthly candles.

And look at that monthly fractal dimension, still up at 61. There is enormous energy embedded in this pattern, and it’s getting ready to unload higher.

We also need to remember that most of the remaining upside in this 64-month growth pattern should happen in 2 separate 4-month “hyper-growth” periods. Since gold is just finishing up month 48, it is just days away from being ¾ of the way to the final spike top. So there is still a lot of time left in this pattern.

It should all start to happen when gold gets over $960, and then over $990. We could just be hours or days away from this first breakout move.

The 150-minute fractal dimension is also now up to high levels, and the daily fractal dimension has sky-rocketed up to 68.

So every major time-frame — from the 150-minute up to the monthly — is loaded with energy after bullish consolidation patterns on every chart. This is the perfect way for gold to find equilibrium ahead of the next surge of energy.

Goldtenters who responded to my post, I think Canadian banks, paying decent dividends and with the potential for substantial capital gains now that the 2008 meltdown in financial stocks is behind us, remain good stocks to hold in the conservative part of a Canadian’s portfolio. Cheers. Equiz.

tinyurl.com/nmdyqm

http://www.breitbart.tv/congressman-demands-to-see-constituents-id-before-allowing-town-hall-question/

Food in Backwardation

Hi Bill,
Previously Eric deCarbonnel has predicted the US will run out of soybeans by the end of this northern Summer. Summer is nearly over and sugar and soybeans are now in backwardation. The backwardation in soybeans is steep.

www.marketskeptics.com/2009/08/backwardation-in-soybean-and-sugar.html

He predicts a food futures default will lead to hoarding world-wide. Nations will seek to bolster their currencies to lower domestic commodity prices. They will do this by dumping the $US, leading to its collapse.

www.marketskeptics.com/2009/08/world-running-out-of-food-before-our.html

Cheers,
Alex P

The World’s 50 Safest Banks

New York, August 25, 2009 — With bank stability still high on corporate and investor agendas,Global Finance publishes its 18th annual list of the world’s safest banks. After two tumultuous years that saw many of the world’s most respected banks drop out of the top-50 safest banks list, the dust appears to be settling. Those banks that kept an iron grip on their risk exposure before the financial crisis blew up have consistently topped the table and maintain their standing among the top echelon in this year’s ranking.

The Top Banks (until you find a US bank) Are:

1. KFW (Germany)
2. Caisse des Depots et Consignations (CDC) (France)
3. Bank Nederlands Gemeenten (BNG) (Netherlands)
4. Landwirtschaftliche Rentenbank (Germany
5. Zuercher Kantonalbank (Switzerland)
6. Rabobank Group (Netherlands)
7. Landeskreditbank Baden-Wuerttemberg-Foerderbank (Germany)
8. NRW. Bank (Germany)
9. BNP Paribas (France)
10. Royal Bank of Canada (Canada)
11. National Australia Bank (Australia)
12. Commonwealth Bank of Australia (Australia)
13. Banco Santander (Spain)
14. Toronto-Dominion Bank (Canada)
15. Australia & New Zealand Banking Group (Australia)
16. Westpac Banking Corporation (Australia)
17. ASB Bank Limited (New Zealand)
18. HSBC Holdings plc (United Kingdom)
19. Credit Agricole S.A. (France)
20. Banco Bilbao Vizcaya Argentaria (BBVA) (Spain)
21. Nordea Bank AB (publ) (Sweden)
22. Scotiabank (Canada)
23. Svenska Handelsbanken (Sweden)
24. DBS Bank (Singapore)
25. Banco Espanol de Credito S.A. (Banesto) (Spain)
26. Caisse centrale Desjardins (Canada)
27. Pohjola Bank (Finland)
28. Deutsche Bank AG (Germany)
29. Intesa Sanpaolo (Italy)
30. Caja de Ahorros y Pensiones de Barcelona (la Caixa) (Spain)
31. Bank of Montreal (Canada)
32. The Bank of New York Mellon Corporation (United States)

You may read the rest of the list, and the method by which safe banks were selected,

www.gfmag.com/tools/bank-rankings/2341-words-50-safest-banks-2009.htm

Posted by Jesse at 12:13 PM

That little figure in the lower right of the bill is done in gold flake paint (or maybe brass?!) and it looks to me like a fist with middle finger extended… in gold.

Cost me 15 bux US at the coin shop. Whatta bargain, eh?

Print yourself one for free! What the heck… benny does it.

Dave from Denver notes…
The Clearing House Association, which is ABN Ambro, Bank of America, Bank of NY, Deutsche Bank, HSBC, JP Morgan, US Bank and Wells Fargo, have filed a Declaration Statement with the Court in the Case of Freedom Of Information Act case of Blooberg vs. The Fed, in which they essentially state that if the Court allows access to Fed documents AND if any “Audit the Fed” Laws are passed, it could lead to a complete financial system collapse.

The audacity and arrogance of these thieves is unmatched by anything I’ve ever seen in history. This Declaration Statement is the equivalent of letting a pedophile out of jail and giving him a job running a child daycare center. This is beyond mind-blowing. I’m linking the complete accounting as posted on zerohedge.com, but here is the coup de grace of the Declaration, which as zerohedge points out, is a what group bank racketeering looks like:

If the names of our member banks who borrow emergency funds are publicly disclosed, the likelihood that a borrowing bank’s customers, counterparties and other market participants will draw a negative inference is great. Public speculation that a financial institution is experiencing liquidity shortfalls - which would be a natural inference from having tapped emergency funds - has caused bank customers to withdraw deposits, counterparties to make collateral calls and lenders to accelerate loan repayment or refuse to make new loans. When an institution’s customers flee and its credit dries up the institution may suffer severe capital and liquidity strains leaving it in a weakened competitive position. www.zerohedge.com/article/racketeering-101-bailed-out-banks-threaten-systemic-collapse-if-fed-discloses-information#attachments

May a god of some sort help us all if the Court gives any weight to this.

***

Or out for a loaf of bread?

The James Joyce Table
Midas du Metropole
Topic du Jour

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August 27 - Gold $945.50 up $1.10 - Silver $14.21 down 4 cents

Gold Fundamentals And Technicals Are VERY Constructive

“The easiest period in a crisis situation is actually the battle itself. The most difficult is the period of indecision — whether to fight or run away. And the most dangerous period is the aftermath. It is then, with all his resources spent and his guard down, that an individual must watch out for dulled reactions and faulty judgment”…. Richard Nixon

GO GATA!!!!!

For the FOURTH day in a row gold has been taken down in early Comex trading. When I woke up, gold was $5 higher. I blinked and it was suddenly down $4. $950 was the high and $940.50 was the low.

The last three days of trading (Monday was the same too)…

Can ANYONE say with a straight face that is normal market action? I liken this repetive trading to a Gold Cartel orchestra conductor playing the same music after day.

And for the second day in a row, gold closes modestly higher, while silver closed lower.

The gold open interest fell 5685 contracts to 373,944. We know The Gold Cartel was capping the price, so what gives? Some technical signals must have turned bearish which caused funds to sell. The buyers on the sharp break off the highs were the commercials and the cabal. It wouldn’t surprise me if the same thing happened today as the trading range was almost identical.

The silver open interest dropped 991 contracts to 100,548. Silver made an impressive comeback from a $14.04 low.

The gold open interest is much closer to its recent low over the past many months than the silver OI, which means it is more sold out technically.

While we aren’t making any progress at the moment, the fundamental and technical picture is becoming more constructive…

*Adrian has pointed out the tightness of the physical market as the contango has been wiped out in the nearby months.

*It is becoming more acknowledged the central banks, like in the European System of Central Banks, have stopped selling. Other central banks, like Russia’s and CHINA’s, are BUYERS. Thus, on balance and on the surface, the central banks are buyers as a group. However, as we know, this does not include The Gold Cartel which clandestinely continues to feed gold into the physical market to suppress the price. It is only a matter of time now (not much time) when The Gold Cartel will be unable to hold these current price levels, which is why they are covering shorts so quickly on dips.

*A strong seasonal gold buying period has arrived.

*A veteran world-wide bullion trader, who sees the physical gold flows daily, has NEVER BEEN MORE BULLISH than RIGHT NOW.

*Key support at $940 has held time and time again, which is leading to greater confidence the market is finding its way into stronger hands.

*Gold has been trading sideways of late. When open interest contracts after a dip like we have had, and you get sideways action with specs selling and commercials buying, it is set up for the market to go back up.

*There is little enthusiasm among the public at the moment for gold and silver. The bullish sentiment remains abysmal, especially considering the price level and the fact gold has risen NINE years in a row.