tag:blogger.com,1999:blog-7982981413278241287.post2053818873042735531..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: Rgold Is Golden: Sit Tight And Be Right (Or Add To Your Positions)Dave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-7982981413278241287.post-22167569654812731342012-02-17T11:56:47.901-07:002012-02-17T11:56:47.901-07:00Really awesome post! I love the graph over the pas...Really awesome post! I love the graph over the past 6 years of daily gold prices.Tim Hargishttp://valleygoldmineli.com/noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-63376890232461856722011-12-17T00:29:21.592-07:002011-12-17T00:29:21.592-07:00very interesting article.
sell gold Houstonvery interesting article.<br /><br /><a href="http://www.houstongoldmerchants.com" rel="nofollow">sell gold Houston</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-25905826589707056812011-12-16T12:57:56.544-07:002011-12-16T12:57:56.544-07:00Rehypothecation Is An Old Story: MF Global's S...Rehypothecation Is An Old Story: MF Global's Story Is a Different Story of Filched Funds <br /><br />Meanwhile, the Hunts had borrowed $50 million from Mocatta to buy more silver and had deposited 10.7 million ounces with Mocatta as collateral for the loan. Jarecki rehypothecated the Hunts' silver, meaning he used it as collateral for his own borrowing. This wasn't prudent, but it was definitely legal. After the Hunts posted the silver as collateral with Mocatta, the price of silver tripled. The Hunts were nervous after hearing the rumors about the cash margin calls for Mocatta's futures hedges, and they showed up in Henry Jarecki's office in a very bad mood.<br /><br />The Hunts new the value of their collateral at then market prices far exceeded the cash value of their loan, and they wanted the loan size increased so they could buy more silver. Jarecki agreed to a bigger loan, but the increase wasn't big enough increase to satisfy the Hunts, who became suspicious that Jarecki was in financial trouble. The Hunts then said they wanted to prepay the loan and take back their silver. Jarecki responded that the loan terms didn't allow for early repayment. Now the Hunts were afraid and angry.<br /><br />If Jarecki had to buy the Hunts silver in the open market or if he had to cancel his futures trades with no offset to meet the Hunts' demands, it would have created a liquidity crisis for Mocatta. Instead, Jarecki solved everyone's problems. He arranged an exchange of futures for physicals (an EFP to cancel out his and the Hunts' futures positions in exchange for a special agreement on the silver) and sold the Hunts 23 million ounces of silver for cash at what was then the top of the silver market.<br /><br />http://www.huffingtonpost.com/janet-tavakoli/rehypothecation-is-an-old_b_1153378.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-22684601363056704702011-12-16T12:25:19.744-07:002011-12-16T12:25:19.744-07:00How many others?
Illinois pre-paid collage fund ...How many others?<br /><br /><br />Illinois pre-paid collage fund is 30% short. Click here.<br /><br />The State of Illinois is facing another big problem. College Illinois is not taking on any more clients. More than a billion dollars is invested in the prepaid college program but a study finds the program has a 30 percent shortfall. One reason parents are upset is because they've paid in, but now the money's not there.<br /><br />Program participant, Jeanne Corrigan is concerned. "In our minds, it was a guarantee, a contract that was backed by the state of Illinois. We fulfilled our part; every month we paid. Our daughter is fulfilling her part of the bargain; she's working hard in school and preparing herself for college and a career."<br /><br />The Illinois Student Assistance Commission plans to give the governor and lawmakers comprehensive recommendations on fixing the $1.1 billion College Illinois Program. That should happen early next year.<br /><br />More than 30,000 Illinois families hold contracts in College Illinois, which lets parents lock in tuition costs at public universities years before students go to college.<br /><br />http://www.kwqc.com/Global/story.asp?S=16314393Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-44744086198837780832011-12-16T12:24:46.606-07:002011-12-16T12:24:46.606-07:00Robert Prechter is a fool followed by shallow dupe...Robert Prechter is a fool followed by shallow dupes. Prechter for years gained his fame by making predictions of the level of the Dow Jones Industrial Average.<br /><br />All of his predictions were shit because the Dow level was impossible to know beforehand. The Averages were skewed from every stock split, so unless you could predict the frequency and timing of which stocks would split, WHICH WAS IMPOSSIBLE TO KNOW BEFOREHAND, you were pissing in the wind.<br /><br />And retarded mongoloids paid him millions for his predictions. You could chart the pattern of maggots crawling through dog shit and it would have every bit as much validity as Prechter's Dow predictions.<br /><br />Of course, Prechter still eats shit, because some things never change.Proximonoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-7464104095584190562011-12-16T11:47:15.547-07:002011-12-16T11:47:15.547-07:00I'm just referring to the Y/Y rate between Q2 ...I'm just referring to the Y/Y rate between Q2 and Q3, not from 2010 Q3.<br /><br />Q2 120,533<br />Q3 146,245<br /><br />The increase in that 3-month period is 21.3% for the quarter. That rate annualized is (1.213)^4 = 2.16, hence the 116% Y/Y rate increase in the prior 3 month.<br /><br />In any event, they added $25B notional against gold...nuff said.Shawn Hhttps://www.blogger.com/profile/11920246082561159418noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-23334541865928057462011-12-16T11:01:56.516-07:002011-12-16T11:01:56.516-07:00Shawn, i just looked at the data, they increased t...Shawn, i just looked at the data, they increased them 17% y/y BUT 21% from Q2 2011. LOLDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-34373226785335150532011-12-16T10:26:55.990-07:002011-12-16T10:26:55.990-07:00The OCC derivatives report is out...the top 5 bank...The OCC derivatives report is out...the top 5 banks increased their gold derivatives positions 117% Y/Y in Q3. Not very surprising...they were preparing for the takedown.Shawn Hhttps://www.blogger.com/profile/11920246082561159418noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-62906936793893661442011-12-16T08:25:16.473-07:002011-12-16T08:25:16.473-07:00Jim Rickards - The US Treasury Shorts the Dollar
...Jim Rickards - The US Treasury Shorts the Dollar<br /> <br /><br />When asked about the US dollar, Rickards responded, “Some legislation authorized a $100 billion line of credit from the United States to the IMF. It suddenly occurred to me how this actually works. The IMF puts in the borrowing notice for the $100 billion and the Treasury sends the $100 billion to the IMF. They (the IMF) then use it to bail out Europe. <br /><br /><br />But here’s what happens, the Treasury sends the money and the SDR gives the Treasury a note because it’s a borrowing. So that’s very significant because for the first time in history the IMF would be leveraging its balance sheet. But the note they give the Treasury is not denominated in dollars, it’s denominated in SDR’s.<br /><br /><br />The SDR includes dollars, but it also includes other things such as Swiss francs, pounds sterling, euros, Japanese Yen and eventually the Yuan. Now when the note matures, the IMF pays you back in the dollar equivalent of the SDR at that time. In other words, they don’t give you $100 billion back. They take the SDR equivalent back and convert it into dollars at whatever the exchange rate is at the time.<br /><br /><br />What that means is that the Treasury is going short dollars. Think about the significance of that, Eric. The Treasury sponsors the dollar. You take a dollar bill out of your pocket and look at it, the Secretary of the Treasury signs every dollar bill. It’s sponsored and backed up by the Treasury and yet the Treasury is shorting its own currency by taking SDR notes from the IMF. My question is, if the Treasury is shorting the dollar, shouldn’t the rest of us be shorting the dollar too?”<br /><br /><br />http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/16_Jim_Rickards_-_The_US_Treasury_Shorts_the_Dollar.html<br /><br />Geithner sings to Lagarde <br /><br />https://www.youtube.com/watch?v=6vwNcNOTVzYAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-66360227162348112832011-12-16T08:07:48.810-07:002011-12-16T08:07:48.810-07:00John Hathaway - Media & Gartman Attacks on Gol...John Hathaway - Media & Gartman Attacks on Gold are Bullish<br /> <br /><br />With mainstream media relentlessly attacking gold, Hathaway had this to say about the situation,“The gist of an article today was, ‘Is there a bear market in gold?’ I think the media is playing this up. Bloomberg is obsessing about the falling gold price. That’s generally the tone of what I see, so it is consistent with the sentiment numbers for gold and silver and to me it’s a pretty good sign.”<br /><br />http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/15_John_Hathaway_-_Media_%26_Gartman_Attacks_on_Gold_are_Bullish.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-12945942037833998922011-12-16T05:35:44.901-07:002011-12-16T05:35:44.901-07:00Enjoyed your post Dave. I've been watching in...Enjoyed your post Dave. I've been watching inventory levels of physical silver at a few of the major online dealers and once silver dropped below $30, inventory levels have been hammered. I only yesterday started watching same for physical gold, but I suspect the dynamic is similar.PM Bughttp://www.pmbug.com/noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-30529451443614558442011-12-15T15:08:50.084-07:002011-12-15T15:08:50.084-07:00sought but can't find...?
Horizons Gartman E...sought but can't find...?<br /><br /><br />Horizons Gartman ETF is an exchange traded fund established in Canada. The Fund seeks capital appreciation through exposure to the investment strategies of The Gartman Letter, L.C. The Fund will invest in a variety of portfolio securities and instruments which may include, but are not limited to, equity securities, futures contracts and exchange-traded funds. <br /><br /><br />http://www.bloomberg.com/apps/quote?ticker=HAG:CNAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-88170686195479343152011-12-15T15:00:38.886-07:002011-12-15T15:00:38.886-07:00@anon re gartmouth...he's still long of the lo...@anon re gartmouth...he's still long of the losses...<br /><br /><br />PPI: Moderating But Still Way Too High<br /><br />Even more troublesome though is that crude and intermediate goods continue to show price increases substantially above that of finished goods. This is not a positive thing at all as it denotes margin pressure on the processing chain -- all the way down the line. <br /><br />There are only two places to compensate -- employee wages and profits. Productivity "helps" but when this situation exists the productivity improvement gets "harvested" by the producers to cover the shortfall between crude and finished goods sent off for final sale. The result is a generally-declining standard of living for the workers and declining corporate profits.<br /><br />http://market-ticker.org/akcs-www?post=199204Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-88293308025670047642011-12-15T14:30:54.807-07:002011-12-15T14:30:54.807-07:00Dave, I'd love to know whose lining up to buy ...Dave, I'd love to know whose lining up to buy all that leased physical gold sold on the spot market at these lower prices :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-86234371254124440422011-12-15T13:56:54.389-07:002011-12-15T13:56:54.389-07:00Gartman hasn't said this is the end of the Gol...Gartman hasn't said this is the end of the Gold bull market. He in fact recognizes that this is a bull market in gold. He has been long gold or neutral gold for at least 3 years. That's how long i have been following him.<br /><br />He has recently been long gold and short the euro and that has been a terrific trade. He called the top at 1900 here and has been right on the money.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-6851652248758319242011-12-15T12:47:22.525-07:002011-12-15T12:47:22.525-07:00game of chicken...buy gold tell them to pluck off
...game of chicken...buy gold tell them to pluck off<br /><br />The "Rothschild's" Plan of 2012 <br /><br />Lets bring things down, buy up the real-soverign assets hard-assets that belong to the people in various countries, and then control the super-nationalality (Empire) though financial sponsorship. The names have changed to Goldman Sachs and JP Morgan and other corporate too big to fails, the personalities are different be they Jamie Dimon, Lloyd Blanenfien, Warren Buffet, George Soros. The game plan seems to have remained the same. Get insider deals with lots of leverage with you yourself lacking the capital, manipulate markets to cause distress, buy those distressed assets, cause chaos in the streets, tell nations what to do, then control the super-nation of Empire using the financial puppeteer's strings.<br /><br />http://www.youtube.com/watch?v=ZaLALmtfvpA&feature=colikeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-41778670863210932932011-12-15T12:36:41.881-07:002011-12-15T12:36:41.881-07:00Re gold leasing: yes. I wrote about it yesterday...Re gold leasing: yes. I wrote about it yesterday. I think the selling is over. What happens is taht the Fed/BOE/ECB/BIS make a lot of physical available to lease and it forces lease rates to go negative, meaning the bullion bank gets paid a small amount to borrow the gold from the Central Bank AND its gets to use the proceeds from selling the gold for liquidity and to earn carry. It's a double-carry trade.<br /><br />You can monitor the lease rates on www.kitco.com<br />and there you can two distinct down-spikes into negative territory. That's likely where the gold was leased and then sold over that period.<br /><br />What happens is the flood physical hits the price and the sharp price spike down triggers sell-stop positions at the macro black box momentum hedge funds and it sends gold into tailspin.<br /><br />Notice how they waited to do this in between the heavy buying seasons in India. They alwasy do this when the market is least liquid on the bid side. <br /><br />Go search the www.gata.org archives and you'll find some definitive research articles on gold leasing.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-47890034576055437112011-12-15T12:27:53.804-07:002011-12-15T12:27:53.804-07:00Founder Of $30 Billion Hedge Fund BlueCrest Says M...Founder Of $30 Billion Hedge Fund BlueCrest Says Most Euro Banks Are Insolvent; Euro Situation Much "Worse Than 2008"<br /><br />On whether BlueCrest's relationship with banks has changed:<br /><br />"I do not take any exposure to banks at all if I can avoid it. All the money at BlueCrest Capital Management is in Two-Year U.S. government debt, Two-Year German debt, we have segregated accounts with all of our counterparties. We are absolutely concerned about the credit quality of the counterparties."<br /><br />On whether he's afraid of taking risk right now:<br /><br />"Absolutely. The main thing that's driving our decision about where to lend money or where to place our funds under management, the vast majority is dollars which we keep in two-year notes. We have a chunk of euros, which we keep in German two-year paper. We're not interested in taking any peripheral debt risk at all and we're not interested in taking any bank credit risk right now."<br /><br />http://www.zerohedge.com/news/founder-30-billion-hedge-fund-bluecrest-says-most-euro-banks-are-insolvent-euro-situation-much-?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-66607739974340191302011-12-15T12:16:08.309-07:002011-12-15T12:16:08.309-07:00Hey Dave, I read somewhere that the central banks ...Hey Dave, I read somewhere that the central banks are leasing gold to insolvent banks at negative interest rates so that they can sell it into the market to raise cash. Do you think this is happening, and if so, how long might it take for them to finish selling? Thanks, GaryGaryhttps://www.blogger.com/profile/01904446704748470736noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-76096363679219009832011-12-15T12:11:57.161-07:002011-12-15T12:11:57.161-07:00W.W.T.D.?
What Would Tebow Do?
I think he would ...W.W.T.D.?<br /><br />What Would Tebow Do?<br /><br />I think he would buy, lolz.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-38052917250602774342011-12-15T12:07:57.862-07:002011-12-15T12:07:57.862-07:00Great post, Dave.Great post, Dave.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-46863001015821488052011-12-15T12:05:58.034-07:002011-12-15T12:05:58.034-07:00Ahh Gartmouth is LONG of the Losses...ie
"Hi...Ahh Gartmouth is LONG of the Losses...ie<br /><br />"His closed end fund (HAG in Canada) is down almost 19% since inception<br />in 2009, and he caught a bunch of the gold move. If he was as good as<br />Bubblevision thinks, he probably would have better numbers."Anonymousnoreply@blogger.com