TFMR Podcast #18 - The Return of Ranting Andy

I didn't get to see Elvis Costello because of the IRA.

Dale Letcher
Industrial Recycling Solutions
       Subject:
       Fwd: From the Owners of McMillan Mfg. in Phoenix, AZ
                This
               is happening all around us and we are allowing this socialist
               government to keep growing. McMillian Mfg in Phoenix, Arizona, was contacted by Bank
               of America and informed that they will no longer be allowed to
               use their services ( Bank of America ) because they are in the
               firearm business and support the second amendment.  

               Please
               read the letter written by the CEO of McMillan
               Mfg.

               Mike
               Ross

Subject:
               From the Owners of McMillan Mfg. in Phoenix, AZ

I am fine with you
               re-posting it. Thank for your support.

Kelly D.
               McMillan
Director of Operations
McMillan Group
               International, LLC
623-582-9635
1638 W Knudsen
               Dr
Phoenix, Arizona 85027
McMillan
               Integrity-Global Vision
www.mcmillanusa.com

Become a fan of
               McMillan on facebook
http://www.facebook.com/McMillanGroupInternational

McMillan
               Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan
               Group
International have been collectively banking with Bank
               of America for 12
years. Today Mr. Ray Fox, Senior Vice
               President, Marlet Manager, Business
Banking, Global
               Commercial Banking ( Bank of America ) came to my office.
He
               scheduled the meeting as an "account analysis" meeting in order
               to
evaluate the two lines of credit we have with
               them.

He spent 5 minutes talking about how McMillan has
               changed in the last 5
years and have become more of a
               firearms manufacturer than a supplier of
accessories. At this
               point I interrupted him and asked "Can I possibly save
you
               some time so that you don't waste your breath? What you are
               going to
tell me is that because we are in the firearms
               manufacturing business you
no longer want my
               business."

"That is correct", he says.

I replied
               "That is okay, we will move our accounts as soon as possible.
               We
can find a 2nd Amendment friendly bank that will be glad
               to have our
business. You won't mind if I tell the NRA, SCI
               and everyone one I know
that BofA is not firearms industry
               friendly?"

"You have to do what you must", he
               said.

"So you are telling me this is a politically
               motivated decision, is that
right?" Mr Fox confirmed that it
               was. At which point I told him that the
meeting was over and
               there was nothing let for him to say.

I think it is
               import for all Americans who believe in and support our
               2nd
amendment right to keep and bare arms should know when a
               business does not
support these rights. What you do with that
               knowledge is up to you. When I
don't agree with a business'
               political position I can not in good
conscience support them.
               We will soon no longer be accepting Bank
               of
America credit cards
               as payment for our products.

Kelly D.
               McMillan
Director of Operations
McMillan Group
               International, LLC
623-582-9635
1638 W Knudsen
               Dr
Phoenix, Arizona 85027
McMillan
               Integrity-Global Vision
www.mcmillanusa.comS

http://www.ammoland.com/2012/04/20/bank-of-america-refusing-businesses-t...

"This
               may be our last chance to turn this government gone wild
               around.  Be
sure to vote early and vote
               often."

@Swifty.....Yep, I totally agree with you. I didn't even include that scenario so I'm glad you pointed it out. That'll be a black day to remember

If or when that happens it'll be a' stop the presses' moment in the stock markets and financial history of the world to some extent. I guess that GLD/SLV collapse would fall under the if  something drastic happens scenario. Glad you brought that up specifically. It's an important point.

Xty...I definitely hear you on the trust thing but what if the vast majority of citizens from their various countries aren't as aware as us Turdites seem to be about these issues or our beliefs/ lack of trust in them? It's worrisome to think that a huge segment (probably a scary majority) of people don't think like we do and would just go with the flow whenever something  was instituted by the IMF or the US Treasury or whatever CB in any given country might do. As much as I don't like typing it I think I would have to  'go with the flow.'  If chaos ever broke out for some really, really  bad reason, then 'go with the flow' is out the window. 

Someday we might wake up one a.m. or see on the TV some evening that some type of currency or commodity related move by a huge international entity or country (take your pick) was made. We would have no say in any of it and we would have to use whatever they designate and comply.  These are the reasons why we stack I guess. Just in case something in the system breaks or so that the commodity itself just inflates with time and keeps value.

Just imagine the day that all of us hear about some type of currency announcement from your respective govt.'s or IMF etc.  That day is coming in some fashion.

There's something kind of funny seeing someone who is called Tea Drinker and someone who is called punchbowl conversing back and forth. We need some other beverage related Turdite to get involved in the conversation. Or a Mad Hatter (TF qualifies)

Like some Alice in Wonderland tea party moment...

Yeah, I don't think it would be a pretty thing at all and more than likely disorderly and distorted in many ways.

And I think we already live in a defacto judiciary/quasi-police state due to the amount of laws and the enforcement of them that we live with everyday. I think the US has one of the highest rates of incarceration  among developed countries. I could be way off on that but I thought that was the statistic. Shockingly high for the land of the free.

If it gets disorderly in some fashion (banking one) then who knows what might happen? But I can see where we might get that 'announcement' some day and think to ourselves "Wtf ?!? Now what?" and you'll not necessarily be forced to use what is instituted but I think most will have to go with the flow. I guess it would depend if it happened from desperation and/or chaos or if it was somewhat normal and part of the MSM flow that would accompany such a event. There could be considerable MSM build up accompanying it or it could be abrupt.

Abrupt would probably not be a good sign. I wonder what it would have been like back in the 30's in the US if people had the same type of communications and access to information that we do now. Would those people in the 30's have put up a huge resistance to gold being remitted back to the US Treasury by virtue of  that Act or announcement?Would they've complied or would the Govt. never have tried in the first place?

We might find out going forward.

I posted this great deal on Silver Eagles to the wrong thread earlier, so here it is.

Providentmetals.com has Silver Eagles for $2.25 over spot in any quantity using promo code ASEsale. You can mail them a check or ACH them the payment to get the cash (non credit card fee) price and not incur a wire fee. I have made most of my stacking purchases from them due to the way you can pay them (going to the bank to wire money is a hassle and costs $15 for me, so I like to keep it simple and save a few dollars).  The other great thing about this deal is that you can order in any quantity to get the great price (so many great deals require large orders to get a good price).   I ordered some eagles yesterday (and got some Canadian silver maples from there last week for $1.75 over spot......no longer at that price on site).

As far as miners go, the longer the metals prices stay at current or higher levels, their cash flows will explode....which will cause money to flow into their stocks. This money flow into the sector will raise their prices. It should already have happened, but will have to sooner or later. I have moved my work retirement account into a gold mining fund (the best choice of the 25 or so funds that we can pick from within our plan). I think that the market will tank after the election, so I am not big on paper stocks in general, but think the miners are the lesser of the stock evils. Ultimately I believe that the government in one way or another will wind up with all funds that are currently in our retirement accounts.

Lastly, yesterday I got my two Mosin rifles from budsgunshop.com that Big Buffalo pointed out on this blog in the recent past. I took a quick peek at them and they look very nice. I can't wait to run some rounds through them (also got my surplus ammo for them a couple of days ago from the-armory.com).

A good week for me.........I ordered some Maples and Eagles for my stack, some Russian lead for my new (old) rifles, and added some firepower to my homefront. Keep stacking and take possession. If you don't hold it............it is really not yours. Thanks TF for all you do. If you have not signed up for an auto contribution to help cover the costs of this site, I suggest you do. The information one can get from this community is priceless.

I think most of you will like the abstract nature of this, plus the burning man part at the end.

Go 'full screen'

Timelapse-icus Maximus 2 HD Burning Man

Could happen. 

Then, if you follow that logic, you should take the next step of analysis. What would happen to physical in that scenario? The government would then own mines (all of them?) and can pay the union diggers to bring the shiny objects to them. They will have tons in no time at all. None for you and me. We sit on our little stacks and wait.

Then they... you know, the bankersgovernmentsecretsocietiesandothersoftheevilempirerulership.org, begin dumping all that virgin gold and silver on what's left of the market to drive physical prices down to the ground.

No. This is not how it will play out. Unless you want to follow the logic of a really smart, articulate (and probably honest/nice) bullion dealer that had a run of bad investments with mining shares and threw in the towel.

Hey Andy, I like yer stuff... but if miners are taken over you won't need confiscation to see your investment in bullion go down and follow your losses in miners.

Still... good interview.

Silver Doc: Gold To Silver Ratio Could Hit 5 to 1

Controversial, wide-ranging and informative thread of comments, still going, on Chris Martenson's blog:

http://www.chrismartenson.com/blog/harvey-organ-get-physical-gold-silver/73933?page=0#comments

Mr Sprott gets a mention. In relation to the PSLV fund Kid Dynamite on another site made the excellent observation that the premium needs to be taken into account when calculating the extent to which your investment is backed by physical metals.

Use http://www.oanda.com/currency/graph
1) gold as a base
2) Graph type percentage change
3) I use this to gage multi currencies real buying power over time seeing as gold is the only true world currency
4) For the fun of it I decided to put silver in and see its performance during last years manipulation and lo and behold its staring me in the face especially when I go from 1 to 2 years past.
5) gold is not the target, silver is. Gold is merely the smoke screen.
6) 1 year ago silver was on its way to passing 100% increase in 1 year and was going parabolic. Now is controlled at 15-25%.
7) How do you know your right? because the facts are the facts Drastic measures were taken and the result is silver is now controlled. If you use Silver as the base there is just evidence that gold has lost it value and is slowly regaining value

I can't believe 2 hours have past!  Thanks for sharing the thread.  Riveting dialog between PM insiders.  Epic!  I'm about 9 pages in to the comments  and have not been swayed with certainty by any comments.  Enjoying the hell out of it and find it very informative.  It is a lot to wrap your head around and at this point I feel a little suspicious.  Thanks for sharing the link look forward to reading more.     

Some Homework

Copying IS7's comment from earlier today:  "I think we'll go to a plastic debit/credit card electronic currency at some point."

I've been thinking about this scenario for years now.  What if we actually did move to a completely electronic currency and paper currency was essentially abolished from being used in transactions?

1.  90% of America wouldn't even blink since people rarely carry cash these days.  I can travel from Florida to Maine to California and not have a dime in my pocket.

2.  State and local tax agencies would love it since it's a form of revenue assurance.  They could essentially enforce coding of all transactions for both the sender and receiver (i.e., gift purchase, money transfer to a family member, buying ammo, estate transactions, etc.) and achieve much greater efficiency in tax enforcement.

3.  Government agencies would love it, since your behaviors and travel could be tracked via your transaction trail.

I strongly believe this could happen in the near future.  It's easy for the government to say we're losing control of our economy due to massive quantities of counterfeit cash "devaluing" our system. Or perhaps one more catastrophic event where the guberment says terrorists used cash transactions to hide their activities before pulling off an attack.  Or it could simply be that the government wants to ensure everyone is paying their fair share of taxes.  At some point, we'll be forced into a 100% required electronic currency scenario for our own safety and security. I give it 3-5 years before something along these lines works it's way through the house and senate.  May not pass the first time, but it will eventually become law.   

I believe this scenario is worth a bit more thought, since it makes the whole "is silver /gold money?" question take a back seat.  The real question is what happens to PMs if a required electronic currency and transaction system takes the place of cash?  Would PMs only be acceptable in black market exchanges and barter?

Good stuff mining that out. 

This is excellent work, weasel numero uno Christian deserves some particularly unpleasant form of slow recompense for his ultimate slime-ball behaviour

How about having to wear the same pair of underpants for a week, chock full of chilli powder and the like while being kept in the medieval stocks in order to receive rotten vegetable tributes from Turdville....?

Pining...any chance you might do the honours?

   The fact that the miners and MANY markets are manipulated does not make a strong argument not to invest in them.   Good observation but different conclusions.   It's fairly simple arithmetic just like physical.    Bull markets cannot be taken out by manipulation.  They can be forestalled temporarily but overtime the trend will prevail.  That has been the rule from the 1930's to date and no good evidence that this has changed.  If it has, stackers are equally screwed.  you can't apply one rule for one asset and then say it doesn't work for something else. 

Also the fact that stocks and all commodities have a history of manipulation and you understand not HOW they are manipulating but WHY they are manipulating means that you TOO can benefit from the elites final goal which is simply to take ownership of what they want at a lower price.    When the price is sufficiently low, they buy in large quantities.  When they buy in large quantities, the price goes up.   

Some of those in the miners are well aware of the power of the shorts in the markets so is management.   So everybody is seeing the same dynamic but reaching different conclusions.  Perceptional bias.   Investors have been watching them force weak hands out of the market, as large funds have been buying in mass.  Even to the point of contacting private investors hold large sums of stock and offering them deals.    Ok, when somebody wants something so badly, then it is a validation, that I have picked the right equity and I simply have to wait and be patient.   If they want something, it only stands to reason that I might want some too.    On some of these thinly traded stocks,  demand is greater than the supply of stocks. 

As Sinclair has said, in an overt QE3, not only gold stocks will do well but so will broader equities.  For how long, who knows.    It's really a basic equation, inflation=higher prices,  that includes everything  stocks, food, cars, houses, toys etc....   The equation is not inflation=higher prices for only certain things.   

If you look at any bubble, and I'll use the tech bubble as an example,  when technology stocks went through the roof, there were also a great number that failed.    However, those who were in the right stocks made vast fortunes when their companies were bought out at an early stage in the dot-com stock market bubble. These early successes made the bubble even more buoyant.  An unprecedented amount of money both personal and large funds occurred during the boom.  So much so that people quit their jobs and became full-time day traders.   The same recipe is at work in the mining market.  Ok, not all companies are good.  But so what, not all companies in any sector will be performers.   Life sucks, you have to make choices based on some due dilligence.  Ugh, work.  But it's already happening that large companies are freeing up assets and announcing their intention to buy smaller operations.    The other day I posted one example where the asset went up 40% in one day.   This was no surprise, as those who have been watching, knew this was coming.   

Also if you read the press releases of any of the global mining operations, you would know that more and more are making such announcements of their intention to buy buy buy.    The manipulation has worked.   Prices are low enough where they can start making purchases and they WILL.    The manipulation has provided an unprecedented opportunity in the market.   

When I was in school playing baseball, I was convinced I couldn't hit a fast ball.   And so my first at bats, I didn't hit the fast ball.   I saw all the reasons why it was impossible to hit a fast ball especially the ones that dipped or moved down and away.  Once I made contact and got that first base hit,  I ALWAYS made contact with the ball.  The difference being my believe system changed.   If you look at the dangers in these markets and look at it from the perspective of standing outside the batters box, you obviously will not be successful.  HOwever, if you are watching the pattern of the pitcher, (the shorts) than you see opportunity every which way.    Two people looking at the same thing seeing different outcomes.     So no, I won't try to convince those standing outside the batters box that miners are a good investment because they will not be for them.    They will swing, miss and decide that they are a rotten investment.   And so they will be.   They guys standing in the batters box, watching the action and participating will have an entirely different experience and outcome.  

Time will be the final arbitor of the rewards to be had in this market.    Argument and facts can make a strong case for either side.  But facts are only as good as your ability to interpret them.   I entertain both sides of the story because that is my obligation as an investor to see if the other guy who has strong conviction and willing to yell it from the rafters has any merit.     And right now, the anti-mining crowd hasn't convinced me.   I'll continue to examine their point of view as they make their argument but it's not plausible that large sums of money won't be made in this sector along with a good amount of failure.     No different than a group of surfers at the beach, somebody is gonna take a spill.   But that's the game of investing, risk vs reward.  

And as I have said and continue to say, the elite wants the gold under the ground as much as they want the gold over the ground.  And believe me, they won't hold back to get it.     I'm just going along for the ride.