tag:blogger.com,1999:blog-7982981413278241287.post6593070055211924373..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: MF Global And The Truth About Our Entire SystemDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-7982981413278241287.post-25920664086756607142011-12-06T10:28:29.292-07:002011-12-06T10:28:29.292-07:00(Dave)
re RPM: i think if you really want to inv...(Dave)<br /><br />re RPM: i think if you really want to invest in it, by a 1/3 position here so you have room to add in case market volatility or lack of news/fatigue takes it lower. <br /><br />mining stocks are volatile and juniors like RPM are very very volatile. KGC owns like 13% of it so that helps stabilize it a bit. eventually i think KGC could buy it out. <br /><br />if you read yesterday's press release, you'll see that they are going to start drilling on the new land immediately so we should get some results back in Q1 2012. If those drilling results are good, this stock will fly over $1.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-35928709201164800242011-12-06T09:48:34.190-07:002011-12-06T09:48:34.190-07:00So Dave,
you wouldn't initiate new positions ...So Dave,<br /><br />you wouldn't initiate new positions in Rye Patch at where it is now, $0.68-.70?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-50157801422895268882011-12-06T09:43:02.253-07:002011-12-06T09:43:02.253-07:00Hillary wants to investigate Russia but this might...Hillary wants to investigate Russia but this might be more germane to the US...<br /><br />Jon-Bubba twist<br />MF Global hired Clinton’s group<br /><br /><br /><br />Even as Jon Corzine’s MF Global was collapsing, a firm that includes former President Bill Clinton in a senior post was raking in huge fees for public-relations and financial advice from the ill-fated brokerage, The Post has learned.<br /><br />Clinton’s office insists the former president did not profit from the relationship between MF Global and Teneo Holdings, where he is chairman of the advisory board. But Teneo, on whose advisory board former British Prime Minister Tony Blair also sits, was paid $125,000 a month for at least five months in one of MF’s biggest consulting arrangements, according to sources at the brokerage house.<br /><br />Read more: http://www.nypost.com/p/news/national/jon_bubba_twist_2uQpRRaeEVM7RNVGelCojO#ixzz1fm1WiexS<br /><br /><br />uh humm.....<br /><br />http://www.youtube.com/watch?v=KiIP_KDQmXsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-10025731928972585522011-12-06T08:26:00.467-07:002011-12-06T08:26:00.467-07:00My baloney has a first name...it's jon
My balo...My baloney has a first name...it's jon<br />My baloney has a second name...it's corzine<br /><br />The Very Structure of Risk Management/Internal Audit Departments In Big Broker-Dealers Are J-O-K-E-S! Ask MF Global Clients<br />Internal audit/risk<br />management needs to answer to a separate entity, apart from the CEO and<br />possibly apart from the Board itself if the CEO has had a part in<br />selecting the board. This way there is true independence and the<br />nonsense that you just saw with MF Global has a much less lkely chance<br />of happening.<br /><br />http://www.zerohedge.com/contributed/very-structure-risk-managementinternal-audit-departments-big-broker-dealers-are-j-o-k-e-?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-30400547529042347002011-12-06T07:15:13.294-07:002011-12-06T07:15:13.294-07:00‘Gold For Bonds’ in Japan as Bond Buyers Get Gold ...‘Gold For Bonds’ in Japan as Bond Buyers Get Gold Coins - May Enhance Returns 5.9 Times<br /><br />The government and the department of finance of Japan also understand the value of gold.<br /><br />Japan will reward investors who buy reconstruction bonds with half an ounce of gold, an added incentive that could boost the return by nearly six times according to Japanese Finance Minister Jun Azumi.<br /><br />Individual investors who purchase more than 10 million yen ($129,000) in the debt with a 0.05 percent return and keep it for three years will receive a gold commemorative coin weighing 15.6 grams (0.55 ounces), the Finance Ministry said in Tokyo today, worth about $948 based on current prices for the precious metal.<br /><br />http://www.businessweek.com/news/2011-12-06/japan-s-gold-for-bonds-offer-could-boost-return-by-5-9-times.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-84179833963419870112011-12-06T06:19:23.021-07:002011-12-06T06:19:23.021-07:00"Just the movement of the reported inventory ..."Just the movement of the reported inventory of metal at the Comex over the past couple of weeks tells us something unusual is going on."<br /><br />Thanks Dave. IMO, it's further confirmation that <a href="http://truthingold.blogspot.com/2011/11/situation-developing-with-comex-silver.html?showComment=1321551908440#c6052326197273378936" rel="nofollow">our discussion a while back</a> was portending something of importance.PM Bughttp://www.pmbug.com/noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-68718755249795195082011-12-06T06:02:10.691-07:002011-12-06T06:02:10.691-07:00Solution?
So if there is no Deus ex Machina and if...Solution?<br />So if there is no Deus ex Machina and if governments or bankers can’t rescue the world, who can and what is the solution. Let us return to the wise von Mises to look at the options available now:<br /><br />“THERE IS NO MEANS OF AVOIDING THE FINAL COLLAPSE OF A BOOM BROUGHT ABOUT BY CREDIT EXPANSION. THE ALTERNATIVE IS ONLY WHETHER THE CRISIS SHOULD COME SOONER AS A RESULT OF A VOLUNTARY ABANDONMENT OF FURTHER CREDIT EXPANSION, OR LATER AS A FINAL OR TOTAL CATASTROPHE OF THE CURRENCY SYSTEM INVOLVED”<br /><br />Ludwig von Mises<br /><br />Mises is absolutely correct: “There is no means of avoiding a final collapse of a boom brought about by credit expansion”. Whatever politicians, bankers, economists or others experts say, there is no solution to this crisis. We have reached the end of the road and are now staring into the abyss.<br /><br /><br />http://goldswitzerland.com/index.php/deus-ex-machina-egonvongreyerz/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-75577901292219723242011-12-06T05:48:59.698-07:002011-12-06T05:48:59.698-07:00What’s an example of how a credit default swap fun...What’s an example of how a credit default swap functions? Chris Whalen provides this example:<br /><br />When JPMorgan does a credit default swap with a customer, they keep the collateral. There is no separate trust company that is part of the exchange that holds all the money the way you do in a good poker game.<br /><br />So nobody knows if it’s fully collateralized or not because they’re trusting JPMorgan to operate their business in a prudential way. Until we had the minor reforms of Dodd-Frank and the Corrigan Group before that, the dealers weren’t posting any margin with one another. It was all naked. And so the first thing that Corrigan did when he started getting people focused on this was to force the dealers to require minimum margins from one another. That was the problem. The systemic risk was actually among the big dealers. They dealt with that somewhat but look at Dodd-Frank, they didn’t touch the bilateral relationship between the client the dealer bank.<br /><br />So if I am the customer, and I’m dealing with JPMorgan, I can’t go to any other bank because all these contracts are bespoked, they’re all different. I can’t get another bank to net me out, so that’s the problem. On an exchange, all contracts are fungible—I want to go long, I want to go short, whatever it is, I do my trade, I don’t even know who the other counterparty is because I’m dealing with the exchange.<br /><br />What is the “Antidote” to this form of Greedy Bastardism? You want to have an exchange traded product, you want to have full public disclosure of all trading every day so we can see all prices for all trades, and you want to require physical delivery of the underlying asset,” says Chris. “In other words, you own a bond, a loan, it could be commercial paper, even a vendor. Let’s say you are big vendor and you have credit exposure with a bank and you want to hedge it. That would be okay, you could deliver the accounts receivable for your insurance payment. That’s what we need. It’s to re-link this derivative market with the real world. And then we’ve got something,” he explains.<br /><br />http://www.dylanratigan.com/2011/12/05/greedy-bastards-favorite-financial-innovation-the-swaps-market/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-10750706830194923832011-12-06T04:26:42.139-07:002011-12-06T04:26:42.139-07:00Perhaps this is of interest here.
If you have com...Perhaps this is of interest here.<br /><br />If you have come across Project Camelot then you might have a view about certain disclosures happening at a faster rate now in finance, technology etc.<br /><br />Here something interesting about Swiss Banking. Their reason of existence was always for "SAFE" and therefore "SECRET" banking. This is now very difficult to achieve.<br /><br />http://projectcamelotproductions.com/interviews/swiss_saga/swiss_saga.html<br /><br />Guess what will replace this - as there is the need even more so today!<br /><br />Well your own bank in the form of physical precious metals.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-29113451333322919662011-12-06T04:17:35.316-07:002011-12-06T04:17:35.316-07:00Thank you for your blog.
If you haven't liste...Thank you for your blog.<br /><br />If you haven't listened to the interview by Tekoa da Silva with Mark Cutifani of Anglo Ashanti.<br /><br />A few interesting nuggets in there but that doesn't apply to the fractional system.<br /><br />Firstly Big buyers want direct access to the product.<br /><br />Secondly it is mind boggling about the mining shares values! Is this time different, ie will they really stay this way relative to gold or diverge even more? Its hard to believe.<br /><br />Ashanti's cashflow increased by 400% since 2008 and the share has gone nowhere . In fact the share touched 46 the first time in Nov 2003. Mind boggling!<br /><br />At the same time the company is a very different company now - no hedges, more efficient with the South African part savings in energy of 17%.<br /><br />On the nationalization front - I am of the opinion that as taxes etc increase for the miners so Gold will go up - but here is the crux - Governments will do the same to the end product - so miners are leading in that thinking. Governments will do the same to physical by increasing the cost of carrying it and "exchanging" it.<br /><br />The interview<br /><br />http://www.youtube.com/watch?v=QU9twnicHbw&list=UU9QKqpbHWfo46tgIMj8KUFA&feature=plcpAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-55314509397094433902011-12-05T22:18:44.571-07:002011-12-05T22:18:44.571-07:00The Dec 7 registration is for Colorado. With ever...The Dec 7 registration is for Colorado. With everyone helping, we can win Colorado! One night, Feb 7, free, two hours of your time.<br /><br />Must be registered R very soon to take action and help us.<br /><br />Dave, thanks for the forum and your articles!Average Joenoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-4527796262023611222011-12-05T22:16:15.252-07:002011-12-05T22:16:15.252-07:00Dec 7 is last day to be registered R to help us Ro...Dec 7 is last day to be registered R to help us Ron Paul supporters get to the next level beyond caucus. Caucus is Feb 7 and you can help us get to the next level of the establishment and nominate Ron Paul.<br /><br />Please put some actions where your thoughts are, and help us make this happen for America.Average Joenoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-32704545406514038172011-12-05T16:40:01.333-07:002011-12-05T16:40:01.333-07:00(Dave)
Re: Rye Patch - good memory! I wouldn'...(Dave)<br /><br />Re: Rye Patch - good memory! I wouldn't chase it but I think it's still very very cheap relative to its potential. We'll see a lot more stocks like RPM start popping like that and then making moves that will shock and awe.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-76516246064320088272011-12-05T16:26:01.103-07:002011-12-05T16:26:01.103-07:00Dave!
Nice move in Rye Patch. I think I recall y...Dave!<br /><br />Nice move in Rye Patch. I think I recall your fund was in it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-46069692551597012142011-12-05T16:18:57.782-07:002011-12-05T16:18:57.782-07:00Ron Paul Defends The 99 Percent: ‘It’s A Very Heal...Ron Paul Defends The 99 Percent: ‘It’s A Very Healthy Movement’<br /><br />During a campaign stop in Concord late last month, Paul was asked for his thoughts about Occupy Wall Street. Unlike other GOP candidates who have denigrated the protestors, including Newt Gingrich and Michele Bachmann, Paul defended the movement and attacked those who used ad hominem attacks against it. “In many ways, it’s a very healthy movement,” said the Texas congressman. He went on to push back against absurd criticisms of the movement: “I’m not one to say, ‘why don’t you get a bath and go get a job and quit crybabying.’ I don’t like that at all.”<br /><br />PAUL: In many ways, it’s a very healthy movement. I’m not one to say, “why don’t you get a bath and go get a job and quit crybabying.” I don’t like that at all. I think that’s a misunderstanding of where the unemployment comes from. The unemployment comes from policy, government policy, and it’s the federal reserve and the business cycle is not a consequence of free markets. That doesn’t mean I think they’re all perfect out there. [...]<br /><br />http://thinkprogress.org/special/2011/12/05/381801/ron-paul-99-percent-movement/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-5049492616500497472011-12-05T16:12:05.168-07:002011-12-05T16:12:05.168-07:00Is there a list of the MF Global customers? Are th...Is there a list of the MF Global customers? Are there any politicians on it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-846299763486929252011-12-05T15:40:19.523-07:002011-12-05T15:40:19.523-07:00Kind of OT but relevant to the big picture:
John ...Kind of OT but relevant to the big picture:<br /><br />John Hussman, one of the few economics PhDs I respect (and therefore one of the few I would not spit at, in the street), goes postal:<br /><br />"...Frankly, I am concerned that Wall Street is becoming little more than a glorified crack house. Day after day, the sole focus of Wall Street is on more sugar, stronger sugar, Big Bazookas of sugar, unlimited sugar, and anything that will get somebody to deliver the sugar faster. This is like offering a lollipop to quiet down a 2-year old throwing a tantrum, and expecting that the result will be fewer tantrums... "<br /><br />http://www.hussmanfunds.com/wmc/wmc111205.htm<br /><br />The full article, like all of John's work, is well worth your time.sumohttps://www.blogger.com/profile/16490367189677374605noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-33345038973021882342011-12-05T15:14:42.603-07:002011-12-05T15:14:42.603-07:00Bill Clinton collected 50k per month from MF Globa...Bill Clinton collected 50k per month from MF Global courtesy of Corzine, prior to the collapse.<br /><br />Corzine should have his fucking nuts cut out. The thieving piece of shit should be forced to explain where the billion $ went.<br /><br />Watch what I say. That degenerate cocksucker won't do a fucking single day in prison.<br /><br />What a crock of shit.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-2011208999675118462011-12-05T14:58:38.137-07:002011-12-05T14:58:38.137-07:00Hey Dave really on a roll lately thanks! I know t...Hey Dave really on a roll lately thanks! I know this sounds like conspiracy theroy maximus but the more I think about the MFing Global the more I get the pricklies that the whole things was contrived to stop the Dec. COMEX run a lot of us were expecting. What a great way to <br /><br />1)Cancel out a lot longs and deliveries<br />2)Punish the heck out of the long spec/hedgers and deprive them of capital. i.e. we know who most of the shorties are (Resolution thru the trustee is delayed or maybe never...)<br />3)Scare the crap out of everyone else thinking about going long in the commodity space except the TBTF.<br />4)Leverage up odds for TBTF shorting success<br /><br />Keep the circle tight by the sinister connections of the butt buddies.<br /><br />5) Trust that the supreme audaciousness of the whole thing is beyond mosts ability to conspiracy theroy the whole thing<br /><br />Next something really odd happens to a key participant???<br /><br />Sounds a bit crazy I know but I am well past underestimating the crap these bas-turds can contrive.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-17120221146502583282011-12-05T14:48:55.106-07:002011-12-05T14:48:55.106-07:00Just a quick correction. Chavez is repatriating on...Just a quick correction. Chavez is repatriating only about 12M ounces of gold (365 tons) and not 200M oz.<br /><br />All the best<br /><br />Bix<br />www.RoadtoRoota.comBix Weirhttp://www.roadtoroota.comnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-32055664729038726722011-12-05T14:21:40.746-07:002011-12-05T14:21:40.746-07:00Hi Dave,
Looks like you stating ''And don...Hi Dave,<br /><br />Looks like you stating ''And don't underestimate the stress that the Venezuela move has put on the physical market'' is becoming fact already. <br /><br />See; Mark Cutifani CEO of $16B AngloGold Ashanti: “Major Buyers Are Finding It’s Hard To Get Physical Gold”<br />http://bullmarketthinking.com/mark-cutifani-ceo-of-anglogold-ashanti-major-buyers-finding-its-hard-to-get-physical-gold/<br /><br />Keep up the good work, I really enjoy your blog. Thanx.Hugonoreply@blogger.com