November federal budget deficit highest on record

LINK

Got gold? Silver? If not, good luck!

7 comments:

halFriday, 10 December, 2010
I read somewhere over the past few days that China was spending its dollars by buying gold (using USD) out of NY, thus effectively helping reduce the trade deficit.

Did anyone else see this? And would that not be a (sick) hoot?
ReplyDelete
Replies
EconomicDisconnectSunday, 12 December, 2010
Hey Dave,

Kid Dynamite, whom I think very highly of, does a nice job on the possible (or not) JP Morgan silver short positions:
http://fridayinvegas.blogspot.com/2010/12/jp-morgan-and-massive-silver-short.html
Not sure yet if I agree, but worth a look.
ReplyDelete
Replies
AnonymousMonday, 13 December, 2010
SDRG is really tanking now. What's the deal?

Not looking good at all, they really botched the CLM situation.
ReplyDelete
Replies
Dave in DenverMonday, 13 December, 2010
I am buying SDRG here for myself and for my fund. I exchanged emails with the CEO over the weekend and I believe this selling is way overblown.
ReplyDelete
Replies
AnonymousMonday, 13 December, 2010
Hi Dave

Three things. Great reads!

SDRG - man this must be the cheapest now. Also had chat with Marc. This will be a catapult north. China drill results must be coming out soon sometime.

All this shorting silver business - every Tom, Dick and Harry have all their takes - between them the fact of the matter is shorts are huge. Here another perspective if some haven't seen it yet.

http://news.silverseek.com/SilverSeek/1292004828.php

Ciao
ReplyDelete
Replies
Dave in DenverMonday, 13 December, 2010
Thanks for the update anonymous. I'm glad some people on here are calling Marc and doing their own due dili.

This is a risky play NOT for the feint of heart. I believe it will pay off. I've bot shares today for myself and for the fund and have been bidding in size near the bid side and not buying any.

It's either going to a buck or zero. Go big or go home, I say! lol

Ciao!
ReplyDelete
Replies
AnonymousMonday, 13 December, 2010
A silver producer that tarded today at 10 cents??

This thing stinks to high heaven.
ReplyDelete
Replies

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.