- Technical details (they capped a leak, but only a leak, not the main vent) - Anecdotes of local hospitals surrounded by uniformed "troops" (?) blocking access to journalists - Hundreds of people getting sick, "bleeding out" from backside, etc.
I listened to an American radio station this morning with several callers reporting severe illness.
It is important that companies review their overall counterintelligence posture to ensure that it is appropriate. Specifically, we recommend that companies affected by this publication and website assess and take steps to mitigate risk to their workforce, facility and mission, to the extent consistent with your contractual relationship with ODNI. These steps should include re-enforcement of security and counterintelligence protections and steps to enhance workforce awareness. CI and security events related to the publication of these articles and website should be reported through normal company channels to the MSC/Security office. For the time being, thresholds should be lowered to aggressively report anomalous behavior.
Exasperating the enormity and complexity of Top Secret America is the development of an internal culture complete with its own status symbols. Departments and agencies apparently compete to get larger and more numerous secure rooms called SCIFs, which are said to be equivalent to comparing thingy sizes within the community. Other status symbols are armored cars, command centers, and security details, all increasing in size, number, and expense as employees within the system compete for prominence.
In short, the intelligence community is afraid of the Top Secret America report because it puts their livelihood at risk. If enough people find out about the incredibly chaotic, expansive, and expensive state of Top Secret America, the possibility exists that voters may pressure political leaders to take action to bring American intelligence under scrutiny. Such an action could end the "gravy train" that the hidden Top Secret American world has enjoyed for nearly a decade.
Joined: Jan 2007 Gender: Male Posts: 298 Karma: 16
Re: The Daily Denarius « Result #4 on Jul 23, 2010, 10:08am »
I think Mahmoud Ahmadinejad Just Bottom-Tick The Euro?
It is kind of funny.
I remember when Iran switched from selling oil in dollars, to Euros. There was an anti-American element in the switch. There was also a self-preservation element, in that Iran wanted to sell their oil for an appreciating currency.
Now that the dollar has been appreciating, Iran is running back to 'the great Satan's currency.'
Normally the pocketbook explains actions. Only on rare occasions do ideas matter more than the pocketbook.
Would sociopaths hijack international policy to support regional occupation in the interest of drug trade? Several newsletter writers seem to think so.
ARMZ will contribute US$ 610 million in cash, at least US$ 479 million of which will be paid directly to shareholders (other than ARMZ) as a change of control premium after closing, by way of a special dividend of at least US$ 1.06 per share.
$1.06/sh for shareholders of record is unique in my experience. I'm not sure why people aren't taking positions just for the cash gift alone.
Addendum: HERE is a very good Bloomberg interview on YouTube with director Jean Fortier, for those who are interested.
Opinion: The Russians show great vision with their involvement in this market. Given their growing influence, we shouldn't be surprised to see geopolitical dynamics similar to those witnessed in the natural gas market in Eastern Europe - not a bad thing, considering how corrupt the pricing mechanism has become across the entire commodity complex. It's high time participants took action to stop being price takers (and ironic that such action arises from sources that were previous labeled anti-capitalist).
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Re: The Daily Denarius « Result #7 on Jul 18, 2010, 7:57pm »
As long as I am on the subject of euros & dollars, here is my theory of why GS and others suckered the europeans into buying all that worthless MBS & CDS derivative crappola.
Remember back a few years ago when Iran President Mahmoud Amadinajad transferred his UN Sanctions account from USDs to Euros? Remember when he outlawed the use and even the posession of USDs within Iran's borders?
Well, apparently I am not the only one. It is not outside my view of geopolitical megalomania that the whole scam was about trashing the euro just to get even with Amadinajad for his shunning the USD. Outrageous, you say? Of course it is. But that is just the kind of outrageous sociopaths we are dealing with, imo.
I mean, if Prince Charles and the Club of Rome can entertain the idea that the planet would be better off with five and a half billion fewer human beings on it then what makes you think these same miscreants would not trash the currency of an entire continent just for spite?
If you think that is absurd, try to get your head around this little tidbit. Amadinajad swapped his UN Sanctions account from euros back to USDs a few weeks ago. Now, please understand, if I could make this stuff up I wouldn't be blogging here; I would be writing the Great American Novel.
------------------------------------------------
A self-fulfilling process and certain outcome :
Countries around the world are printing currency as if there will be no tomorrow.
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Re: "IMPEACH THE IDIOT" « Result #8 on Jul 16, 2010, 1:47pm »
QUOTE
Coping: Let’s Elect — No One!
July 16th, 2010
Had a fine email from a reader who makes a modest proposal which could painlessly impact elections in a most unusual way:
“You may be interested in a novel political strategem – since the vote is the only way most can (currently) express their opinion (and there are so few worth voting for), an interesting approach is to vote for no one — just leave the ballot blank. The original idea comes from “Seeing”, written by Nobel-winning author Jose Saramago. If everyone voted, but all (or most of) the ballots were blank, nobody has a majority and the seat goes unfilled… locally, statewide, or nationally. In the book, the government went absolutely ballistic, because the people spoke and clearly said “we are good citizens but we don’t want any of the choices you offer.”
So, would you prefer another crook in office or no-one? No more useless laws passed, no more meddling, no more do-gooding…It would be a shot heard round the world…”
Joined: Jan 2007 Posts: 807 Location: Here_&_Now Karma: 17
Stock Market "Quotes" « Result #10 on Jul 13, 2010, 6:52pm »
- "Helium was up" "Feathers were down" "Beef steered into a bull market" "Paper was stationary" "Fluorescent tubing was dimmed in light trading" "Pencils lost a few points" "Hiking equipment was trailing" "Elevators rose" "Escalators continued their slow decline" "Weights were up in heavy trading" "Light switches were off" "Mining equipment hit rock bottom" "Shipping lines stayed on an even keel" "The market for raisins dried up" "Coca Cola fizzled" "Caterpillar stock inched up a bit" "Balloon prices were inflated" "Scott Tissue touched a new bottom" "Knives were up sharply" "Sun stocks peaked at midday" "Diapers remain unchanged"
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Re: Scaries « Result #11 on Jul 6, 2010, 9:30pm »
Pretty good propaganda, huh?
That's the trouble with these video games: the premises reinforce popular misconceptions about conflict in world affairs. Evil comes neatly personified as One Guy, he is Somewhere Over There, and it has nothing to do with International Banking. When an appointed real fall bad guy appears in mainstream media, he dovetails conveniently with his online counterpart. When an aspiring young goon tears himself away from his desktop to take up a real rifle, the online practice facilitates commission of atrocities without conscience in real life. In a sense, the player is a desensitized product. It's clear why military games are pioneered and funded by the MIC as it manifests in all these different countries.
In recent years, the Chinese government has shown increasing concern over what it perceives as problems with the addictions to and negative influences from video games.
The Beijing Reformatory for Juvenile Delinquents claimed in 2007 that a third of its detainees were influenced by violent online games or erotic websites when committing crimes such as robbery and rape. In a high-profile case from October 2004, 41-year-old Qiu Chengwei was sentenced to death for murdering 26-year-old Zhu Caoyuan over a dispute regarding the sale of a virtual weapon the two had jointly won in the game Legend of Mir 3. Also, in September 2007, a Chinese man in Guangzhou died after playing Internet video games for three consecutive days in an Internet cafe.
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Re: Mining company alert thread « Result #15 on Jul 1, 2010, 4:10am »
This discussion reminds me of an Investing topic on the old Financial Sense board where experienced stock pickers compared themselves to gardeners planting seeds. The overall germination rate may be poor, but gains from those that grow more than compensate for losses from those that don't. How many of us have clung to dead stocks longer than we should? How many of us wish we'd gone all-in to companies that overshot price expectations? How many of us kick ourselves for bad timing? (I'm so embarassed, looking back at the old commentary under this topic for BQI and SGX and TDC. Haven't looked at them in ages. Aaaugh!)
JP deserves some credit for his early role in educating us to fundamentals of the secular market for Things. He is in a tricky position, running a brokerage AND delivering a webcast. How specifically can tough questions be answered without getting in trouble? Doesn't that apply now more than ever? Liability-wise and otherwise, how and when do you tell clients and listeners to get out of Dodge without explicitly saying "Get out of Dodge?!" I sense fear of consequences in some of JP's verbal acrobatics. But we are also more sensitive to gaps in his commentary as our knowledge base has improved - and also spoiled to some extent: it is free, after all. It is easy to be critical when we're not the ones doing it.
I feel really lucky to have come across JP, who was the main person entertaining the questions of Peak Oil, inflation, and deflation. Ultimately he has come down on the side of Peak Oil & inflation. For now I think he is wrong on inflation.
On that topic, I wonder if you are following the Denninger/Gekko banter over at Zero Hedge? I don't think the hyperinflationists are being entirely fair, but it has made for lively reading...
As for juniors, don't you find it interesting to note how penny stocks are being shunned across the stock boards? I stand by the sense that production schedules beyond 12 months are too late. A lot of junior explorers will be crushed when the next big hammer falls. JP has stressed producers and near-producers before. Looking at the short list I posted above (disregarding Mirasol and Fortuna), you can see why. The market favors production over potential.
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Re: NNN:TSX - NiMin Energy Corp « Result #16 on Jun 30, 2010, 11:46pm »
More news today ... things seem to be falling in place for this fledgling jr ... and the SP is still low IMO (barring another financial armageddon) ... as a side note, NNN has a very high probability of hitting 100% of the 11 new wells.
NiMin Energy Closes Long-Term Credit Facility and Provides an Operations Update
- Long term credit facility closes
- Drilling to begin in Wyoming in mid-July
- Oil production in California rises from CMD response
CARPINTERIA, CALIFORNIA--(Marketwire - June 30, 2010) - NiMin Energy Corp. (TSX:NNN)(OTCQX:NEYYF)(PINK SHEETS:NEYYF) ("NiMin" or the "Company") today announced the closing and funding of its new credit facility (the "Credit Facility") in the amount of US $36 million from CLG Energy Finance, LLC, an affiliate of Beal Bank ("CLG") (http://www.bealbank.com/). At the request of the Company and subject to approval by CLG, the Credit Facility may be increased up to US $75 million to provide additional development capital.
The new long-term Credit Facility will be used to repay the Company's existing short-term debt of US $22.4 million and to fund the Company's 2010 and 2011 capital program – which is focused on developing the recently acquired Wyoming assets. The Credit Facility carries a five year term, a fixed interest rate of 12.5% per year and has no required principal amortization in the first and second years. This structure provides NiMin with substantial cash flow flexibility to execute the 2010 and 2011 capital program. The Company and CLG view this initial financing as the establishment of a long-term relationship by which a more conventional senior borrowing base credit facility may be established with CLG in the future as proven undeveloped reserves are converted to proven producing reserves. CC Natural Resource Partners, LLC ("CCNRP") acted as financial advisor to NiMin in arranging for the Credit Facility.
Management Comments
Clancy Cottman, NiMin's Chairman and CEO, said, "The closing of this long-term Credit Facility with CLG marks another important step in the growth of our company. The proceeds of the Credit Facility will replace our short-term debt and allow us to focus on converting our large inventory of proved undeveloped locations into proved producing reserves. We are pleased to have a strong financial partner in CLG and look forward to a relationship that helps us grow the Company."
Operations Update
The Company also announces that it is preparing to execute the 2010 drilling program in Wyoming and has signed a drilling contract to drill 11 wells. The Company plans to have a rig on location by mid-July and drill two and a half wells per month to complete the program. This drilling program will begin the development of the Ferguson Ranch Field and continue at one or more of our other fields in Wyoming.
The Company continues to report a positive production response from the Combined Miscible Drive ("CMD") project at Pleito Creek field in Kern County, California. The Pleito Creek field is producing approximately 215 barrels of oil per day of 18 degree API oil from the Santa Margarita formation. The field production has increased approximately 50% or 70 barrels of oil per day above the natural decline of the oil reservoir. The Company implemented a new enhanced oil recovery technology, CMD, that combines the benefits of a CO2 flood, steam flood and gravity drainage to enhance recovery and increase oil production rates. The Company anticipates further production increases in the field with continued oxygen injection into the Santa Margarita formation.
About NiMin Energy
NiMin Energy Corp., a Canadian company, is a California-based independent oil and gas exploitation and production company with principal operations in the U.S. in the Bighorn Basin of Wyoming, the San Joaquin Basin in California and onshore areas of South Louisiana. Pursuant to the Company's report of estimated reserves at January 1, 2010, prepared in accordance with National Instrument 51-101, The Company has over 27 million barrels of oil equivalent proved and probable reserves -- 96% of which are oil in California and Wyoming.
About CLG Energy Finance, LLC
CLG Energy Finance, LLC ("CLG Energy") is a division of CLG Hedge Fund, LLC, an affiliate of Beal Bank and Beal Bank Nevada, both multi-billion dollar private financial institutions. CLG Energy seeks to make direct investments in energy and energy-related companies, with particular emphasis on debt investments in the upstream oil & gas sector.
About CCNRP
CC Natural Resource Partners, LLC ("CCNRP") is a Dallas, TX based investment banking firm that provides advisory and capital raising services for public and private energy and natural resource related companies. CCNRP's principals have substantial transaction experience in the energy sector having successfully closed over 70 advisory and capital raising transactions over the past six years with over $3.3 billion in aggregate transaction value.
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Re: Quotations « Result #17 on Jun 30, 2010, 10:46am »
+
"It is the common fate of the indolent to see their rights become prey to the active. The conditions upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime, and the punishment of his guilt." –John Philpot Curran – (1750-1814) Irish Orator, Statesman, Judge – Date: July 10, 1790 – Source: Speech, Dublin, July 10, 1790
People who are smart get into Mensa. People who are really smart look around ... and leave. -- James Randi
"Fiat paper money is destroying civilization right now. It has fueled the predator state. It has destabilized markets. It has wrecked balance sheets and distorted financial markets. It has wrecked the culture by leading the whole world to believe that prosperity can come as if by magic, that stones can be turned into bread." -- Lew Rockwell of the Mises Institute
Yahoo! Finance User - Monday June 28, 2010 11:49AM EDT
WHY...do we need to raise taxes if we cut spending??? One of the main reasons to cut spending is so that we CAN CUT TAXES! I'm tired of these yahoos in office.... Bottom line, big government is inefficient and we are going to continue to discover this. In government, the people spending the money did not earn the money so there is a feeling of "we can afford anything" They have no need to live within a budget and there is ZERO incentive to spend less than their budgeted amount (because they may not get the same amount next year!)
# The Dems will abandon even further any base they had -- RIP, 14:02:16 06/28/10 Mon ...in order to appeal to mainstream and their banker backers.
As predicted.
# ... adrift inna universe .... -- BWP, 14:01:58 06/28/10 Mon "June 28 (Bloomberg) -- The percentage of corporate bonds considered in distress is at the highest in six months, a sign debt investors expect the economy to slow and defaults to rise."
... yeah, buyin' junk bonds durin' a collapsin' economy was a great buy if ya wanted ta divest yerself of all yer wealth quickly and efficiently ....
from George Orwell's Notes on Nationalism (h/t Hume's Ghost):
All nationalists have the power of not seeing resemblances between similar sets of facts. A British Tory will defend self-determination in Europe and oppose it in India with no feeling of inconsistency. Actions are held to be good or bad, not on their own merits, but according to who does them, and there is almost no kind of outrage -- torture, the use of hostages, forced labour, mass deportations, imprisonment without trial, forgery, assassination, the bombing of civilians -- which does not change its moral colour when it is committed by ‘our’ side . . . The nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.
It appears that the various policy proposals being discussed are indicative of special interest groups arguing over a dying man as they consider how best to strip the corpse.
Even the Government is just another street gang.
In such a lawless neighborhood, what can an individual do? Obvious: Join a gang—any gang. To remain unaffiliated is to be begging to be set upon by members of one gang or another, be it the various gangs that make up the government (TSA, IRS, ICE, Homeland Security, etc.), or the various corporations who have made sure that unaffiliated individuals are fleeced in health care, insurance, financial services, etc."
Democans & Republicrats - two cheeks of the same @ss; it amazes me that many here still don't 'get' this.
@Biden -- Smythe, 03:58:39 06/28/10 Mon “Throughout my career, Israel has not only remained close to my heart but it has been the center of my work as a United States Senator and now as Vice President of the United States,”
Is this not the definition of treason ?
Crowded classrooms and half-day sessions are a tragic waste of our greatest national resource - the minds of our children. ~ Walt Disney
'The modern mind dislikes gold because it blurts out unpleasant truths.' -- Joseph Schumpeter
We don’t have an overpopulation problem, we have a Satanically inspired genocidal mindset problem.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- HL Mencken
In a 1953 speech, President Dwight Eisenhower noted, “The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities. It is two electric power plants, each serving a town of 60,000 population. It is two fine, fully equipped hospitals. It is some 50 miles of concrete highway. We pay for a single fighter plane with a half million bushels of wheat. We pay for a single destroyer with new homes that could have housed more than 8,000 people.” His point, quite simply: money not spent on the military could be spent elsewhere.
A conspiracy is not a conspiracy until it's history. -- Blogger steve.harrison
Unless Governments spend in proportion to private savings, the global economy (and Germany's economy) will spiral downward.
Industrialized society has forgotten that we are dependent upon the other forms of life on earth, and that it is a delicately balanced complex web of interconnectivity that has evolved over millions years, which we disturb at our peril. Curses and shame on these foresters who are sleepers for the lumber industry pretending to be scientists!
The Democrat and Republican parties are indistinguishable from each other. It's ONE PARTY, manned by crooks and incompetent hacks. 1/2 of it rips us off for war and oil, the other half rips us off for welfare, entitlements and "social services". Both halves rip us off for Israel and for their own pockets and tenure in office.
Until we get these people out of our government we'll have the Israel Lobby and the Oil Lobby dictating our foreign policy and the NEA and government unions dictating our domestic policy.
KICK 'EM ALL THE HELL OUT!!!
The myopic, history-illiterate and small mindedness of the vast majority of Americans is EXACTLY why we are where we are.
ALL of them, left right or middle, are part of the corrupt Fascist/Corporatist/Govt machine, stealing our economic futures for GENERATIONS!
You are ENABLERS of money and power-addicted madmen!
TSS1 on Jun 24, 10:56 AM said: We are governed by fiscal sociopaths of BOTH parties that don't give a damn what comes after them. "Any system created by man can be destroyed by man.." That from a book I read a few years ago called A Distant Crossing. It was premised on a worldwide financial meltdown. Fiction is now reality.
Stephen2112 on Jun 24, 10:15 AM said:
From the pathetic government response to the Gulf Oil Disaster to our massive national debt. From our never ending state of war to our unsecured borders. From our loss of manufacturing jobs to 40 million Americans on food stamps. From failing public schools to bankrupt state governments. From lying politicians to greedy Wall Street bankers. America has all the signs of a FAILED STATE.
After leaving such a mess, no one could blame future generations for looking back and cursing this one.
DaveC (URL) on Jun 24, 9:57 AM said: America is not waging war, it is called "Police Action" When America did wage war, it was on our own behalf and we WON. Since 1949 when we sold control of our Military out to a Communist UN, weve been roped in as the UNs enforcement arm and been screwed over in conflict after conflict where our people die for NO BENEFIT to America.
Sandy X on Jun 24, 3:48 PM said: The fools prefer to watch idiotic "news" and live a trivial life against the march of history, the making and breaking of nations. The top 5% of Americans now own 80% of the U.S. Middle Ages revisited?
Billy D on Jun 24, 11:02 AM said: We live in a country that is crying about the fiscal climate yet we have large parts of our population that cannot see their own toes because they are too fat. They complain about healthcare but we lead the world in stapling our stomachs to "help" the obese to not eat so much. >>> We are not in need, we are in excess. <<<
Jose (URL) on Jun 24, 9:29 AM said: As things get much worse, the average American will start voting out more incumbents. When that fails they will elect a strong devout Christian military leader who will be expected to make radical changes. We are were Germany was during the 1920s.
nemo on Jun 24, 6:49 AM said: There was never a recovery. ... The only thing manufactured this past year were the numbers.
How to talk to a sociopath 101.
Reagan response to Iran: "we will bomb you to death... just like I am going to do to the Lybians."
The problem gets solved immediatedly because sociopaths don't care about their own people, but do care about their own worthless lives.
Re: "Our political system is corrupt, probably beyond repair -- big money politics isn't Democratic or Republican, it's universal."
Exactly. So how will it play out?
The same as it always does. The US will gradually become a 3rd world country. It's already happening here in my state, where teachers have had to swallow consecutive 4% and now 6% pay cuts and where some schools will be running a 4-day school week come September. Unemployment in my county is 17.5%. Our march back into the third world is already under way.
At the same time, well-connected financial interests will be able to belly up to the "discount window" for their 0% "loans", which they will then turn into treasuries at 3+%, pocketing the difference courtesy of the US taxpayer. You and I, of course, are barred from participation in this scheme, though not, of course, from picking up the tab for it. This money-laundering scheme will continue to exacerbate the divide between the well-connected and the rest of us until one of two things happens:
1) American workers get beaten down to the point where they are willing to work for 3rd world wages. All entitlements, benefits, workplace safety and environmental protection standards will be abandoned and Americans will go back to work in sweatshops for essentially slave wages. This is the capitalist's dream. The problem with this, of course, is that nothing will have been done about America's energy dilemma, meaning that America may still be unable to compete even though wages are on par with educated 3rd world workers.
2) American workers are beaten down to the point where they have nothing left to lose. At this point, 50 million people reach for their rifles. They will find these rifles to be a very poor match for Predator Drones, whose use has been perfected over perhaps a 20-year period in Afghanistan and Pakistan. At that point, we will see whether the ultimate outcome will be anarchy or totalitarianism. If Americans have the grit displayed by, for example, the Afghan people, it will be anarchy. Otherwise, it will be totalitarianism.
Thinking this is going to play out any other way is sheer delusional thinking. The lessons of history are absolute in this regard. Once corruption has reached the levels now prevailing in the US, the outcome is always either totalitarianism or revolution.
It's just a matter of when.
Vive la difference. Democrats may waste all the money but Republicans surely steal all the money.
Notice to Incumbents : Go to JAIL, go directly to JAIL. Do not pass GO. Do not collect $200 Billion Dollars.
"Until this administration stops spending our money so we can, the economy will not improve."
Your comments are right on the money but you are wasting your time. The whole red-state blue-state monkey show is designed to distract the gullible chumps. So long as they are pointing fingers based on bogus political colors, they're not following the cash. That is just what the corrupt incumbents want, and they have perfected the show well enough that tools like most sheeple are never going to find their way out of that labryinth of BS.
The ... problems ... are the result of our government believeing they can buy their way out of this recession using our kids future salaries. 70% of the economy is consumer spending. Until this administration stops spending our money so we can, the economy will not improve. We will be the next Greece if things don't change and change soon.
"Until this administration stops spending our money so we can, the economy will not improve."
“Unfortunately I was so successful for so many years in that particular field that I began to believe in my own success. I thought that because my method worked in markets that I knew about and had quantified, I could apply the same methods to something I didn’t know about.”
Guess who said this? Rising prices of precious metals and other commodities are an indication of a very early stage of an endeavor to move away from paper currencies...What is fascinating is the extent to which gold still holds reign over the financial system as the ultimate source of payment. -Alan Greenspan, 9 Sep 2009
Alan Greenspan said what? “Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.”
From "Gold and Economic Freedom" a 1966 Essay by Alan Greenspan
Quote of the Week "The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver
economic growth will probably be insufficient to absorb the still-large amount of excess capacity in the system. What that means is that the U.S. unemployment rate will remain high for as far as the eye can see. and inflation and interest rates will remain low for a sustained period of time, and a stock market priced for peak earnings in 2011 could be in for some disappointment.
The primary defensive weapon for the survivalist is his HANDGUN.
So, my advice, if you are preparing for a small economical crisis, gold coins make sense. You will keep the value of the stuff and be able to sell it for its actual cost to gold dealers or maybe other survivalists that know the true value of them. In my case, gold coins would have been an excellent investment, saving me from losing money when the local economy crashed. Even though things are bad, I can go to a bank down town and get paid for what a gold coin is truly worth, same goes for pure silver. But where I live, in my local area small time dealers will only pay you the value of junk gold, no matter what kind of gold you have. So, I’d have to say that if TSHTF bad, gold jewelry is a better trade item than gold coins.
Some offer their services and repair stuff or offer work as handyman. You would be amazed of the junk that these guys manage to fix: TVs, CD players, Power tools, etc. They even manage to solder the small integrated circuits boards sometimes. Give one of these guys a screw driver and a bar of chocolate and he will fix a nuclear submarine.
"Give one of these guys a screw driver and a bar of chocolate and he will fix a nuclear submarine."
So, having means to defend yourself is very important during the first days, after the veil of fear of “punishment per crime” is removed from the society.
"A lesson ignored is history destined to repeat."
Once you go too far off the reservation in terms of property rights and individual liberty, everything eventually breaks down because it's not sustainable.
It will be the lack of bailouts that will cause society to come unhinged.
Central planning of an economy is like having one's conscious mind control the autonomic system of one's body. ! TILT !
While governments are forcing the unemployed into poverty, they should not feel shame, they should feel anger.
The government is not the American people.
The arrogance in Washington DC is palpable and it will draw us further and further into its vortex of stupidity.
That is the helix of life; constant discovery of things already found by others.
naked apes (human beings) are serial liars - and those who lie the best (those who are best able to convince themselves and others of the validity of their lies) are the most successful in modern society.
Gold is a store of wealth, not a speculative tool.
never do it out of greed--simply do it for need.
"Gold is the wealth of a nation... silver is the wealth of the people."
True security does not present itself until one has nothing and then builds from that point.
"Novus Ordo Mundi... Numquam"
"Gold is money, and nothing else." - J.P. Morgan
I started off with nothing; I still have most of it left. -- Terry
"If you don't live for something, you die for nothing." -- Denarius
Profits are found in making wars, not in ending them. -- Denarius
In fifty-five languages on this world, the word for money is the same as the word for silver.
The return of gold as money represents a shift away from America’s blind faith in government.
Slowly, surely, America is changing, not just shifting from saving paper money to storing gold, but to a gold-based economy.
All the obstructionist efforts by the Federal Reserve, the US Treasury Department and banks, to diminish the value of gold, and to ignore its importance, will be overcome by market forces.
Think of what you are witnessing, before your eyes. It is a dramatic change. No news or government agency will announce it. It only becomes apparent in bits and pieces over time. America is reverting back to what was prescribed in The U.S. Constitution – the time-honored representation of your labors – gold!
"From whence shall we expect the approach of danger? Shall some trans-Atlantic military giant step the earth and crush us at a blow? Never. All the armies of Europe and Asia ... could not by force take a drink from the Ohio River or make a track on the Blue Ridge in the trial of a thousand years. No, if destruction be our lot we must ourselves be its author and finisher. As a nation of free men we will live forever or die by suicide." -- Abraham Lincoln
Greenspan Says U.S. May Soon Reach Borrowing Limit (Update1) By Jacob Greber June 18 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a "tectonic shift" in fiscal policy to contain borrowing. "The federal government is currently saddled with commitments for the next three decades that it will be unable to meet in real terms," Greenspan said.
who predicts hyperinflation in our future, thinks that default is the only real solution – not just for the EU nations but for US as well. Face it citizens, we owe $15Tn (ignoring unfunded liabilities, of course) and we are spending $3.5Tn this year and taking in $2.1Tn in tax revenues.
What is the exit strategy here? Cut spending in half? Double taxes? Like John, I think ultimately we have to face up to the fact that we are either going to finally admit we can’t pay this debt and default (as many other countries will have to do) or we will have to inflate our way out of debt (effectively inflating GDP to the point where $15Tn is no longer an unpayable amount). Either way, the people we owe money to are pretty screwed.
Unfortunately, for the US, we owe most of that money to our own people. Japan owes 80% to their own people and the EU mainly owe money to each other. Notice on this chart that 1/2 of the outstanding Treasury Debt is owed to the Fed. No wonder they are so interested in keeping this game going at all costs!
Due to the growing inequity between the public v private sectors, it appears a massive bailout will eventually be needed to "keep promises" to this select class.
When the euro was created, the Germans got a Mediterranean currency and the Mediterranean countries got German interest rates.
The feeling seems to be that the euro will survive. The euro is not an economic currency. It is a political currency, and there is political will for it to survive.
Every day above dirt is a good one.
Top 10 Sovereign Debt Default Risks
Inquiring minds might also be interested in a slideshow of Government Debt Issuers Most Likely to Default.
From the article: "The countries are ranked by their cumulative probability of default (CPD), which gives the market's assessment of an issuer's likelihood of default over the life of a CDS contract."
Those numbers are from March as ranked by CMA. Greece is certainly higher now.
GDP, Standard of Living, Geopolitical Tensions
Because of Peak Oil, there is no mathematical possibility that China-Asia can achieve anything close to a Western per capita energy density, GDP, and standard of living without causing a dramatic decline or collapse of the Western economies.
The more Asians and others decide to compete with the Western economies for energy resources, the more likely Westerners will resort to desperate means to manage or try to prevent decline or collapse.
The post-Oil Age decline will not be a single collapse event. Rather, we are more likely to see a kind of stair step decline, like a ball bouncing downstairs, with increasing volatility of supply and price shocks from a positive feedback effect, reducing the very long-term trend of real GDP, per capita GDP, and population growth to 0% and negative.
Jim Chanos, the hedge-fund manager who made money betting against Enron Corp., said he is short-selling shares of large oil companies because investment in drilling and exploration is eating up their cash flows.
“If you look at their cash-flow statements relative to their income statements, you will see companies that haven’t replaced reserves in years, and haven’t seen any increase in revenues in years,” he said.
“They’re borrowing their dividend. They’re in effect liquidating.”
No one will pay any heed to the now discredited Greenspan who ironically was worshiped for all the things he got wrong and ignored the few times he ever said anything sensable.
Japan shows it is possible to get away with deficit spending for a long time, but Greece clearly shows what happens when time runs out.
Destruction of the family is caused by welfare programs.
The end of any given civilization comes when the whole of society emulates the lowest class of that civilization. From there the next iteration of society springs.
"Freedom of the press is restricted to those who own one".
Don't be fooled by today's low interest rates. The government could very quickly discover the limits of its borrowing capacity.
* Comments (169)
* 1 day ago * Michael Tepper wrote:
This is rich. The man now references "fiat" currency. He calls for fiscal restraint. As the kids say, 'omg'. Has he forgotten that he was in a position to do something? -- he held not only the position but 'sway' for a long time -- and simply reveled in his position to pimp the dollar. He wants us to forget.
I had a friend who many years ago (way before the effects were so obvious with the housing bubble Mr. Greenspan can rightfully claim) said that Mr. Greenspan's inflation would cause more pain than could be believed. One internet bubble and one housing bubble later the painful result of pimping the economy can be set at the feet of Mr. Greenspan, Mr. Frank, Mr. Dodd, and Andrew Cuomo, all of whom apparently believe that wealth can be created through deception, printing money and distributing other people's wealth to those who whose votes they seek to buy. -- 8 Recommendations
Every politician who votes to continue our nation's current profligacy, let alone increase it, is telling the country they want our children and grandchildren to pay for their parent's healthcare and solar panels. When did the venerable idea of leaving the world better for your progeny go out of favor? -- Marc Garrett
Greenspan is responsible for Monetary policy. Congress is responsible for Fiscal policy. -- Roger Brown
We do not need more regulations; we need regulators that regulate. -- Leslie Jones
Granting entitlements is just another form of buying votes. -- Denarius
Immigration -- how you outsource population growth. -- Denarius
Saying Greenspan is right to advise congress to reduce spending is like saying Captain Edward Smith of the Titanic is right to advise the engine room to reduce speed just after the collision. -- Denarius
Basically, one's 'power' in Congress is the power to dole out funds - nothing more. -- Scott Franklin
... the only reason there is currently no inflation is because the Government is lending money at a lower rate than it borrows it. Prepare for inflation when Government reduces deficit spending. -- ROBERT WOLFF From the comments you make, it appears that you believe inflation occurs when government cuts back on deficite spending. I simply do not understand that. -- Gerry Dail I believe that our current course by this adminstration is for a very high inflation rate to pay off the debt because why else would they kill the private saector, their only other hope of preventing this. -- Lloyd Morton
Central Banks themselves are anti-Capitalist, anti-Market. They are facilitators and the prime cause of resource misallocations. These Central Bankers will only think inside of their own box. Their "stewardship" is not something we can afford. If Americans are to reclaim their own checkbooks from this Cleptocracy, the Central Bank cannot be exempted from the cull. -- Jay Williams
Luck is the residue of design.
economics .... hanging endless streams of tangentially related data off of irritatingly vague maxims. -- sanjo
Condemnation without investigation is the highest form of ignorance. -- A. Einstein
"You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out." - Andrew Jackson: To delegation of bankers discussing the Bank Renewal Bill, 1832
Belief in myths allows the comfort of opinion without the discomfort of thought. -- John F. Kennedy
The prospect of the world having plenty of seafood is quickly going by the wayside as oil drifting undersea is likely to result in huge dead zones. -- George Ure
Ah, the land of slapstick government and banana-peel economics. -- George Ure
-- -- Winston, 00:58:13 06/07/10 Mon democracy is wonderful, provided you overlook the destruction wrought by elections and parliaments.
In a pinch always trust a politician to do the right thing, put their self interest and political career above all else regardless of cost. Bet on it.
##################################
The same model for banking is being used for warfare.
Just as dollar debts cannot ever be repaid with more dollar-debts, wars can never be ended with more war.
Just as debts can only be ended with settlement, >>>> War can only be ended with Peace. <<<<
Posted By Jim Sinclair On June 29, 2010 @ 8:02 pm In General Editorial . . . 5. Gold is NOT a commodity. 6. Gold is a currency. 7. Gold is the currency of choice. 8. Gold is going to becoming the reserve asset of choice by central banks. 9. Ownership of gold means you are your own central bank.
COMMENT : Thanks for that last one, Jim, just as I wrote five years ago. (8~D)
Joined: Jan 2007 Gender: Male Posts: 298 Karma: 16
Re: The Daily Denarius « Result #19 on Jun 28, 2010, 9:44am »
From Denarius' Carbonnel link:
Quote:
OVERSIGHT
A 10-member council would monitor threats to the financial system. It would decide which companies were so big or interconnected that their failures could upend the financial system. Those companies would be subject to tougher regulation.
Obama, & it seems most everyone else, believes markets can not function without regulation.... and there is no better regulator than the government.
Pretty much all of the greatest economists, beginning with Adam Smith, shared their awe: that markets self-organized and regulated themselves.
Most of the great economists posited that it would be impossible for a central authority to simulate the self-organizing and regulating ability of markets.
Chavez has been proving most of the great economists right. Chavez has seized grocery outlets and producers and has reset prices 'more justly'. "He has gained efficiency by cutting out the middle man."
Now, in the reduced price chicken aisle you will find cooking oil and dried oregano.
moral: Regulated markets have unintended consequences.
Regarding Obama's 10 man plan to regulate Financials & the "Too Big to Fail." I fear oregano in every billfold.
What will be the effect of this bill? Simple! Whatever the bill was designed to accomplish, expect the opposite. We can expect less systemic liquidity, a renewed credit crunch and either a obscenely profitable banking sector, or one that goes out of business! The good news? More employment, power and bonuses for all our friends at "Government Sachs"!
Joined: Jan 2007 Posts: 807 Location: Here_&_Now Karma: 17
Re: Mining Stock Performance « Result #21 on Jun 26, 2010, 9:58am »
+ An excellent article comparing the performance of the HUI and the S&P-500 Indices to Gold over the past ten years. It contains some great graphs worthy of saving for future reference.
The one down-side is a glaring error in stating the gain in the gold price over ten years. It should read 500% and not the 340% in the article. I sent them an email with the correction.
++++++++++++++++++++++++++++++++++++++++
UPDATE : There are other instances where the ten-year gain in gold price is quoted as being in the 300% range. Well, as it turns out, that is true when pricing gold in euros; €300 to €900 approx.
It is true that the gold price gain in US Dollars is 500%; $250 to $1250 approx. Co-incidentally, the same is true for gold in BPs; £160 to £800, approx. Why a China official would be quoted as saying the POG rose 280% in 10 years when gold is officially priced in USDs is probably just poor reporting, nothing else.
Joined: Jan 2007 Posts: 807 Location: Here_&_Now Karma: 17
Re: The Daily Denarius « Result #22 on Jun 25, 2010, 11:24am »
+ Well, well, no sooner than the PPT go to lunch that our favorite two metal currencies go wild. Not to dwell too much on it but many of the people we all read have stated that it is important gold close this week above 1250 and silver above 19 to keep the momentum going. We shall see in an hour or so. Have a grinning weekend, all.
Joined: Jan 2007 Gender: Male Posts: 298 Karma: 16
Re: Mining company alert thread « Result #24 on Jun 24, 2010, 1:31am »
I'm still holding Tyhee Dev. (at ~33% of what I paid for it). I don't blame JP for anything. I think we have entered a once-in-a-lifetime deflation that would have been difficult for most mortals to have predicted.
On the deflation-inflation question, JP sticks steadfastly to 'inflation.'
Most of us are close to JP's age. We came of age during the inflation of the seventies. We are pre-disposed to believe in inflation.
What we didn't experience in the seventies was the wholesale unwinding of debt.. That is what we are experiencing now. It is "the same" as the wholesale unwinding of debt in the thirties.
"the same", except for the fact that the debt is bigger this time.... and "the same", except for the fact that we have fiat money now.
It is legitimate to ask if it is possible for a fiat money to take on a life of its own and be as real as gold or silver as debtors scramble for fiat dollars to repay debt. So far the answer is, "Yes." It is invaluable to acknowledge that; but beware just in case the answer is ultimately, "No!"
I feel really lucky to have come across JP, who was the main person entertaining the questions of Peak Oil, inflation, and deflation. Ultimately he has come down on the side of Peak Oil & inflation. For now I think he is wrong on inflation. And I wish he were wrong about Peak Oil.
Joined: Jan 2007 Posts: 807 Location: Here_&_Now Karma: 17
Re: Things to Come « Result #25 on Jun 23, 2010, 7:20pm »
"Control the oil, control a nation. Control food, control its people." -- Henry Kissinger
"Control the money, control all." -- Denarius
The countries who have recently revealed their gold reserves include India, China, Russia, and now Saudia Arabia. There is no reason for them to do so other than to establish their individual claims to the total amount of the IMF Gold-Backed SDR Credits soon to appear.
In the fractional reserve International Gold Certificate Ratio, IGCR, each country will be granted Credits in proportion to the whole lump of credits available. That number will be set by the total amount of gold tonnage owned by the members and the fractional reserve ratio decided upon, possibly at this past weekend's G-20 meeting in Canada.
Raving lunacy, you think? Connecting the dots, I think.
The schedule of implementing this new monetary order will not be determined at any meeting of world leaders. Instead, it will unfold in fits and starts over the next three years, imo. In typical Hegelian Dialectic fashon, the new monetary order will magically appear just in time to save the world from total chaos and destruction. And what better time could there be for that occurance than on the 100th anniversary of the Federal Reserve Act of 1913 ?
That is when the Fed will not so much be dissolved as morphed into the International Monetary Fund along with the ECB which, by this time, will have already subsumed all the national CBs of the EU.
First comes the New World Order of Money, then will come the NWO of Power. Money and Power, the two elements making up the molecule of Politics. Was ever so, will ever be.
Thanks for the update Lore. Yes, it seems the producers have already wooed the crowd and need not impress. It's the explorers who are hurting and rightly so. They are always HIGH risk and they need to grab any investor who looks their way to add money to their coffers. I guess the gold shows attracted a lot of old and new blood but it meant more people getting burned....which makes people real sour about going to a show just to get into a mental head lock at every booth. JP had us all thinking we gold bugs would be gazillionaires by now. Holding the metal....yes....holding the juniors....not!
Easy, just look in your bank account / coffee can. When it's empty of FRNs, you have enough Au & Ag.
=========================================
Greenspan Says U.S. May Soon Reach Borrowing Limit (Update1)
By Jacob Greber
2010 June 18 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a "tectonic shift" in fiscal policy to contain borrowing.
"The federal government is currently saddled with commitments for the next three decades that it will be unable to meet in real terms," Greenspan said.
But he should know, he was the maestro who implemented in the 1990s & 2000s the wild Lending Spree demanded by Congress and the White House going back to the mid 1960s.
But the key words are "in Real Terms" . . . which is notice that the Fed must INFLATE or DIE. After all, what does it matter if you have interest payments of 15% if your principle is eroding at a rate of 20% ? That, my fellow JMRs, is how the US can discharge its Treasury Bond obligations over the next 30 years.
The rise in $GOLD prices of about 20% per year over this past decade is a prelude to exactly this kind of "thinking" ... imnsho.
Perhaps this is a tip-off that the Fed is scheduled for execution after one last round of horrendous Credit-Debt issuance that will sink the US Dollar for the final time. Will the IMF become the new World Reserve Bank replacing the "failed" Fed and all the other Central Banks? Me thinks, "Why not?" The ECB is set to do exactly the same thing as part of "resolving" the present credit-debt crisis in Europe, isn't it?
My, my, how the same "story" can be told over and over again yet appear different with new actors and theatres in each decade. The rhyming of history begins to get a little repetitious, doesn't it?
"...Simmons has a 4,000-share short sale on BP that he picked up when the stock hit $37. That’s in addition to a prior 4,000-share short sale he made at $48 a couple weeks prior. “It’s going to zero,” he says of BP stock. Mind you, Simmons has an interest and a deep investment in moving beyond fossil fuels."
The Barron's article went on to note that Simmon's Ocean Energy Institute, a renewable energy think-tank and venture capital fund he started in 2007, is involved in a project to develop off-shore wind power facilities and other alternative energies.
If Barron's assertion is true, it would appear that Simmons, an energy industry veteran and expert on "peak oil", could have had a serious conflict of interest when he went onto so many TV and magazine interviews talking his book about BP and the Gulf oil spill.
From that perspective, his remarks would seem irresponsible and only added to the existing despair and chaos, which is nothing the nation, particularly the Gulf Coast residents, need right now.
One has to wonder if this potentially unethical and maybe illegal act could have been easily deterred if only the media, instead of dashing to a seeminly sensational headline, would take a minute to require a disclosure before putting Simmons on TV and quoting him.
The scale of the 30-yr graph is too coarse for my purpose so I used the 10-yr $GOLD graph to get some idea of what to expect in the next few years IF.IF.IF the trend continues.
Results of projecting MINIMUM $ Gold Price into the future : ------------------- $1050 in early 2010 (bindere, dundat) $1300 in early 2011 $1700 in early 2012
Projections beyond these dates are not useful due to the near vertical trace of the $ gold price parabola.
Connecting the high price points gives an idea of the volatility we can expect IF.IF.IF the trend continues.
The soonest the $ gold price looks like it can hit $2000 is by the middle of 2011, about a year from now. Note that this gives a $700 price range or about 35% volatility next year.
What? You expect a parabolic blow-up to happen without extreme volatility? Don't say I didn't warn you.
Why might it play out this way? Simply because the Fed is trapped into increasing credit/debt geometrically into the future. They failed to unwind the world-wide credit-debt bubbles when they had the chance in 2002 and 2008. They instead suckered the rest of the world into going along with them. Now we all will suffer the consequences, some much more than others. It gets me to thinking that GS and BP may be clones.
Caution is advised before you get too giddy about these numbers. Remember, "everything will change" and not much will seem real. Great wealth brings with it great responsibility. You will be able to survive the horrors to come only by enabling others to survive with you. No one survives alone.
Here is where church groups become useful. They profess to do charitable works and indeed many have experience with distributing food and other necessities of life. Get involved with one or more to see how they work the details. Remember to bring your ear protectors to fend off the proselytizing onslaught sure to be reaped upon you. Your task will be to fund the operations with your windfall wealth when the time comes. It's not only the right thing to do but it is beneficial for you, too.
Consider your local gun clubs. Your job will be to buy the fuel for their vehicles so they can patrol and do guard duty for the charitable operations. It will all come together as a necessity but only if you are able to fund these activities with your gold and silver coins. Indeed, not only do mothers make inventions necessary but necessity makes for strange partnerships in any endeavour. You will see. (8~D)
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