The Golden Truth: No Time To Say Anything Today

Wednesday, January 25, 2012

No Time To Say Anything Today

Obviously the Fed was joke.

But, is anyone on CNBC, Bloomberg or Fox Biz talking about the precious metals and miners today? I don't watch those channels so I don't know, but I would bet good money they are not. The HUI is up 6.8% right now. If the the Dow were up 6.8% it would be up 868 points from yesterday's close. I'm pretty sure that every single TV business reporter/anchor would be doing naked cartwheels, popping bottles of Dom and talking about the new economy.

10 comments:

BrianWednesday, 25 January, 2012
tru, dat.
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AnonymousWednesday, 25 January, 2012
Speaking of naked cartwheels, I wonder what Mary Lou Retton is up to these days?
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JDWednesday, 25 January, 2012
Dave,

Speaking of miners it was nice to see them catch a bid for once. I had an excellent day. The real question remains will they follow through over the next few sessions or will it be the same old story with them underperforming the metals.

Anyway my question is about Hecla. Even with the recent mine closure i just don't believe HL stock price. It has little debt, over $400m in cash, it's latest quarterly earnings were up you 183%, it just implemented a new dividend policy based on the silver price. All extremely positive signs in my opinion. Am I missing something or this not just a HUGE opportunity. I mean I see a number of juniors that scream bargain like Golden Minerals with massive high grade silver reserves but HL is one of the largest producers. It should trade at a substantial premium to say a junior that is not producing. I continue to be patient and add to my miners on all weakness but I feel like I live in the twilight zone.

Thanks for the feedback & the blog! Also would love more posts about miners. I am always stacking pm's but that's a given so any posts on miners is much more interesting. Thanks again!
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HalWednesday, 25 January, 2012
You expect anything less?

actually, just before Bernanke came on TV someone on cnbc said something about gold--no more than 5-6 seconds worth.
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JDWednesday, 25 January, 2012
Also I think I remember you a while back saying you liked Eurasian Minerals. I apologize if that was someone else but they just got approved to start trading on the AMEX. I have owned the pink sheets shares for a few years and they will automatically be converted to the new AMEX shares. The story got very little attention but I know the company was extremely excited about it as it will only open up new investors to the company. Anyways just wanted to share that in case you hadn't heard.

Cheers!
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AnonymousWednesday, 25 January, 2012
Miners? shouldn't drink and drive.....HUI, wasn't that a comic book big baby character?....precious metals? If you can't eat,drink or smoke 'em....an Apple a day keeps the metals at bay on CNBS..........
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WilWednesday, 25 January, 2012
Clearly Dave, REALITY is the FINAL FRONTIER
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AnonymousWednesday, 25 January, 2012
But, is anyone on CNBC, Bloomberg or Fox Biz talking...?
Coherently? See http://youtu.be/nl5gBJGnaXs

Forget those guys..if king world news had a ticker tape..there'd be no reason to put the tv on!

Bernanke Goes All In

So long as CPCE stays below 2%, Ben is going to have his foot planted on the monetary metal. It’s “full speed ahead” according to the Chairman. He's pushed things off until 2014 - a very long time from now.

My question: “Why is the Fed using CPCE versus another measure of inflation?” The very good news is that there is answer, and it comes from a very "reliable" source – The Federal Reserve. A detailed analysis on this topic was conveniently made public just a month ago.

http://www.zerohedge.com/contributed/bernanke-goes-all
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Add comment

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.