The Golden Truth: More Proof Matt Simmons Is Right

Monday, July 19, 2010

More Proof Matt Simmons Is Right

Just read this: Oil Leaking From Seabed. For the record, everything Matt Simmons said on various mainstream media news outlets is exactly the same information that was relayed to me a few weeks ago, and I believe the ulitmate source was NOAA. Matt Simmons specifically references NOAA in his MSNBC interview. But in the end, the market will be the final arbiter - see what the market thinks HERE

BP is going to zero, just like Enron, Refco, Countrywide, Wash Mutual, FNM, FRE, GM, et al...

4 comments:

AnonymousMonday, 19 July, 2010
I hate to toot my own horn, ;-) but this is what I posted here last Thurs...

"...they do NOT want to increase the pressure on the well bore. There is definitely a rupture in the well casing somewhere, and BP isn't sharing what it knows. Trying to cap it will cause the crude to escape into the rocks or mud around the well bore, which will make the well unkillable if the rupture gets large enough. The crude may take years to surface, but it will bubble up someday if the pipe lining the well (the well 'casing') gets shredded too much. The well cap is all smoke and mirrors-the relief well is the best way to kill the wild well, maybe the only way."

Of course, I was wrong in assuming that BP was going to do the right thing. I guess BP was gambling on the oil taking a long time to surface. FAIL. Rumor has it that this limited-liability corp may sell itself off, and that means no going after past profits. Tony H will keep his yacht. Imagine my sarcasm. Redneckistanian
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Dave in DenverMonday, 19 July, 2010
Toot it all you want Red! BP knows this - they are just buying time and stalling in order to figure out ways to hide assets and keep that retard Obama at bay.
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stibotMonday, 19 July, 2010
"But in the end, the market will be the final arbiter."

Reading this, i'm asking myself, why gold is still 1200 and silver 18. Therefore i recalled phone call i've received in February, it was when Greece troubles began to leak.

I was called by broker convincing me to invest into markets. Because i'm having an idea what are their recommendations good for I refused strongly (nearly like "I'm not believer in your crap"). But he was very patient and we have had over half an hour talk.

I explained him that I'm invested only in metal, not going to change because of debt crisis regarding to Greece, which was canary in a coalmine at the moment.

He reacted "And you think the Greece can have any large impact? You believe gold will be worth something if crash happens?" He seemed to me totally clueless. But perhaps he is a mirror of all those brokers and fund managers influencing masses. Perhaps it explains why one can buy metal cheap yet today.

There was also some anecdote within the phone call:

My only point was to try without money first, so i'd have an idea whether he really has the ability pronounced. The broker refused steadily and persuaded me to invest money now, talking about profits of his clients and so on but i was stuck to my idea. Finally he agreed to my notion.

It was much more fun within the call, but to truncate the story, he provided first tip (going long some ultrashort fund) and i've never heard of him again (investment was 30 % down in a few weeks).
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Dave in DenverMonday, 19 July, 2010
LOL - thanks for the anectdote Stibot. I can't tell you how many potential investors we've talked to about our fund who have been literally railroaded into not investing with us by their financial advisors. Wall Street will be anti-gold until the day comes that the big banks are loaded up on bullion and mining stocks and they decide to draw the public in. that will be stage 3 of the gold bull and will entail the best price gains.
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

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

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.