Compilation of Comments
For a weekend open thread and discussion, I though I'd give you a compilation of the comments I've added throughout the day to the previous thread. I do this for three reasons:
- There are some pretty good insights that would be missed otherwise by those who only read the main threads and not the comments that follow.
- I'm too lazy to type a new thread.
- I'm out of time and I need to go cut the grass. Not that the grass needs mowing per se. But I need the stress relief and the Friday afternoon beer always tastes that much better after working up a good sweat.
Remember, BoA recently repositioned $53T in CDS from their ML subsidiary to their BoA NA sub. In preparation for a default which they can pass along onto the American taxpayer??
http://www.zerohedge.com/news/gift-keeps-taking-bank-america-facing-62-billion-collateral-call
Re: The Dying Comex
This chart lays it out pretty well.
What is the bond market telling us?
Based on bond prices alone, overt QE does not look imminent. However, why the rally today? And why is the 30-yr not participating at the same rate as the 10-yr? Note that the spread has compressed to just 120 basis points. And who, for the love of pete, is willing to give money to Uncle Sam for 30 years at an annual yield of just over 3%?
Regardless, block out all the noise about WOPRs and OI and CoTs and the like and you're left with an investment climate of negative, real interest rates. Negative, real rates have always been and always will be one of, if not the, driving factor behind precious metal accumulation. More here:
http://www.tfmetalsreport.com/blog/3325/case-you-missed-it
Here's a great Rick Santelli video from this morning:
http://video.cnbc.com/gallery/?video=3000088399&play=1
Lousy CoT
GOLD
The rise of OI from the bottom near 395,000 was due to some new spec longs and some new bank longs absorbed by a 15,000 increase in The Cartel short position (net short addition of nearly 11,000). Looks like The Cartel is not ready to see gold rise anytime soon.
SILVER
The drop of OI was due to everybody exiting at once. Spec longs, EE longs, EE shorts all down and the EE net short ratio expanded to 1.56:1. Again, yuck.
After the good CoTs of the past few weeks, this one is s real downer. Looks like The Cartels are not expecting, nor are they going to allow, a significant move higher anytime soon.
On that note, have a happy weekend!
And, finally:
I've always thought that
I've always thought that Louise Yamada was the best technician on the planet. Heed her words:
I HOPE THAT EVERYONE HAS A SAFE AND RELAXING WEEKEND! TF
p.s. I've got Bodemeister in The Derby tomorrow. Yes, I realize that no horse that was unraced as a 2-year old has won The Derby since, like, 1887 or something. Who cares. I'm on him!
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Comments
First Communion AG
Today we celebrated the First Communion of a seven year old neighbor girl. She received various gifts, both religious in nature and fiat cash. She is a sweet little stinker and I had wanted to give her something different and special as well as something she could hold onto. So I gave her a 1990 minted ASE in one of the older velvet presentation boxes with a small note included that read to save this for something very, very special.
She opened the box and her curiosity very apparently appeared in her eyes as she showed it first to her dad and the other assembled family/friends and exclaimed,"Look! Special Money!" Her grandmother took one look at what was in her hands and said "Oh yes it is!" as some of the others oohed and aahed and the other kids crowded round.
Later as the adults sat around the table drinking coffee the coin was uncased and passed around the table. ALL bouncingly weighed it in their hands and inspected the engraving. It started a conversation among the many older folks (65+) about how good it felt to hold 'real money' again and resulted in pointed/direct questions as to where I had acquired it.
The little girl came back and collected her gifts from the table...As she tried to pick up everything she saw that she couldn't manage it all. She put the cash gift envelopes down by her dad and as you already guessed...picked up the ASE, pausing to look at it closely again before leaving to take her haul to her room. Her mom called her back and said Mom and Dad would keep it for her with Moms jewelry.
I think it was a hit, as well as maybe...just maybe a catalyst.
I have never, ever before parted with any of my silver but I very much believe this was worth it.
DOH!
DOH!
"Adamstown - it's a whole new ball game" ... It certainly WAS
One of the legacies of Ireland's boom years was the proliferation of new housing stock, much of it now sitting empty. Adamstown near Dublin symbolises the ambition, and subsequent puncturing, of the Irish economic dream.
April 2007 - one of the last optimistic months. A time when hope was still in the air, just before the so called "Celtic Tiger" economy got sick, and then fell fatally ill
<SNIP>
"Adamstown - it's a whole new ball game", proclaims the slogan on the glossy brochure I am handed by the immaculately groomed estate agent minding the show house.
http://www.bbc.co.uk/news/magazine-17953165
Sub-MOA
What a wonderful story!
I have a wedding to go to in July. The daughter of my best friend is getting married. She is also my God-daughter. Being a very good judge of character, I know that her and her future husband will be a marriage that lasts as has that of my friend and his wife (28 years now). I had planned on a nice gift of a tidy sum of cash because I was in my attic last week and found things received from my wife's and mine wedding 25 years ago still new in the box. I believe something yellow and shiny is in order.
Any suggestions anyone?
@Sub-MOA
I gave one of these to a niece for a very late graduation gift last summer. (she's in the Navy now) She barely blinked at it. I told her to hold onto it and not sell it. I hope she followed my advice, my bet is that she cashed it in for a few beers for with her pals.
I also gave one to another niece and nephew who are much younger (my brother's kids) for Christmas last year. They were more interested, but surprisingly little was said about them, their parents put them aside for safekeeping as well (which makes sense). But I was hoping for more of a conversation starter.
Oh well, I'm trying. I've given up speaking to most friends and family about PM's. They're all too full of MOPE to see past the end of their beautiful large homes (with huge underwater mortgages) and new cars (again, with large new car loans). I'm the odd-man out in the family, with a modest house that still has some equity left (even after the beating of the last few years) and two cars, each more than 10 years old), both bought with cash a long time ago. And I make more money than any of my or my wife's siblings (and twice as much as most of them). They probably don't realize how much money I make. They probably just figure I must not make much because I live so modestly.
My brother just got back from another debt-funded vacation trip overseas. Around the same time, I stacked a good deal more ASE and AGE coins. I guess time will tell whether fancy vacations are more valuable than insurance for the future.
When I mentioned to my sister-in-law a few years ago that silver and gold would be a good thing to invest in for the future, she responded they couldn't possibly find the money to invest in such things... while she was standing in their (formerly) half-million dollar home with a new Honda minivan parked in the garage. It made me feel ill just to listen to her. That $500K home is now worth less than $300K... but they still have the $450K+ mortgage and somehow I doubt that car is paid off yet...
Three Key Elections:
Three Key Elections: Super Sunday Poses Multiple Threats to Merkel
It could be an uncomfortable weekend for German Chancellor Angela Merkel, with three crunch votes taking place on Sunday. Elections in Greece and France could torpedo her strategy to solve the euro crisis if voters reject pro-austerity candidates, while a state election in Germany may weaken her conservatives domestically.
Angela Merkel's position as German chancellor is becoming increasingly contradictory. At the federal level, she reigns unchallenged, while her opponents falter. But at the level of Germany's individual states, her power is crumbling and her center-right Christian Democratic Union (CDU) is bracing itself for further setbacks. At the European level, meanwhile, she has become a figure of hate for many, as her pet project, the fiscal pact, is increasingly called into question
t seems that the German chancellor is currently inhabiting three different worlds.
But this weekend, those three worlds will converge, as people both in Germany and abroad go to the polls in three key elections which all take place on Sunday. In the northern German state of Schleswig-Holstein, the CDU's current coalition government with the business-friendly Free Democratic Party (FDP) is set to crumble, while in France, Merkel's key euro-zone ally Nicolas Sarkozy has cause to fear for his own hold on power in the second round of the French presidential election. At the same time, Greece threatens to descend into instability following its parliamentary elections. It seems likely that Merkel's worlds will no longer remain so neatly divided after this election "super Sunday." Even the staunchest of supporters sense the chancellor may be facing a turning point.
Posted at the spiegel.de website
The link is here.
City Lights From International Space Station
NASA Astronaut Don Pettit assembled a sequence of several of the most striking images of city lights at night taken by several astronauts on board the International Space Station between 2002 and 2008 into an animated "world tour" of cities at night. Resolutions approach an estimated 10 meters/pixel in the sharpest images. This video, produced entirely by Pettit, takes you on a quick trip comparing cities from different regions, all viewed from the International Space Station.
For more information and links: http://www.nasa.gov/offices/oce/appel/ask/issues/38/38s_cities.html
RE:- Silver Value Education
I think it was a hit, as well as maybe...just maybe a catalyst.
I have never, ever before parted with any of my silver but I very much believe this was worth it.
I did a similar thing with a nephew ....
.... I gave him a 1890 Victoria Crown for his 21st birthday, which pre-dated his birth by one century, and explained the following four facts to him :-
1) ... From 1890 -to- 1971 .... It was worth a mere 25-pence (1/4 of £1) as Official Government "Currency/Money"
2) ... Even if he took it to the government bank to "exchange it" for 1971 -to- 2011 currency the bank would STILL only give him 25 new-pence of "today's currency" in the form of coins that contained NO Silver.
3) ... On the day I gave it to him ... The Crown was worth around £30-£40 as a "Collectible Silver Coin"
4) ... IF he (immediately) chose to "smash it to shit" into a mere lump of metal-junk with a hammer ... It would STILL be worth around £20-£21 as "scrap silver".
.
A light DEFINITELY turned on in his eyes .... and he's since started paying off his debt-load & picking up little bits of silver when he can.
I'm proud of him ... His brother, however, is a scumbag piece of excrement. (= You win some, you lose some
)
ASE
For those above, who have given an ASE to the children, enjoy ...
First Communion AG (update)
Thank you all for the fine comments concerning my little report above.
I just took phone calls from two of the adult attendees present at the afternoon festivities. Questions concerning the best place to buy them!
In addition, before the little girl went to bed she asked Daddy to lock the coin in his gun safe.
Some days just go well.
Stack safely.
@SaratogaPrepper ... RE:- Wedding suggestions
For another nephew, I gave him & his bride a pair of 200 year old (relative to their Marriage Year) Antique Solid Silver Tongs, along with an "Symbolism Sheet" I created ... and I enclose a copy of that below for you in case the idea perhaps appeals to you.
It's relatively inexpensive, yet gives them an asset which is much more likely to grow in value instead of the normal "run of the mill wedding-junk", AND gives them (hopefully) a treasured heirloom to symbolise their starting a new married-life together ... Hopefully this idea might be of use to you.
.
PS ... I forgot to add ... IF you go for a "claw hand" type of tongs rather than the more common "rounded bowl" type of (sugar-cube) tongs, the tongs are still eminently useful day-to-day in today's world as "ice-cube tongs".
Not that anybody cares
but I love my iPhone. Different people have different needs - there is no reason to be so dogmatic.
I care
and I love my Windows Phone. Which makes me a pariah, but that's ok. ;)
RE: iPhones
I know a lot of people take exception, but here is what I think:
First, google has a proven track record of being in cahootz with the .gov. This alone makes me leary of ever buying an android phone. Microsoft doubly so. Apple on the other hand, for years having been the underdog in the computing markets, has much less of a relationship with the .gov.
So if I'm going to take a chance on a smartphone, I feel there is less risk (if ever so slightly) of being tracked and monitored by the government by using an iPhone.
I don't care that they limit the apps on the phone to their own stuff. It means I'm less susceptible to viruses, and frankly, I use very few apps anyway, beyond the ones that come with the phone.
I have no data to back this up, it's just based on my personal observations.
I can't fault Apple for using cheap labor overseas, at least no more than any other company. If you don't like that part, you shouldn't buy ANY computing device, period. I work in the industry and can tell you that you will not find a single personal computer or phone these days that doesn't use cheap overseas labor.
(All that said, I don't buy Apple computers. I can build my own high performance PC for a lot less money, but I love my iPhone and iPad.)
WARNING - this video may may bring you to tears!
Help save the beautiful PAMP Suisse gold bullion and American Eagles from the fire!
---------------------------------------------------------------------------------------------------
Buy Gold in NZ with MyGold Today!
Going Green To Buy More Gold !
I replaced the 20 watt flourescent tube light in my "Fishless Fish Aquarium" with a 2 watt, cool white LED spot light....now I leave it on 24/7 for ambience ! I never had any fish....dirty, sickly, air pump needy, food eating and poor conversationalists ! I tell the kids (and some adults) they are very shy and they sleep a lot behind the plastic plants ! I'm looking for a little ceramic, sunken Galeon ! Monedas 1929 Charter Member Dead Money Society
CME Group vs CFTC Financial War Rages
Have never read this guys work but thought it was an interesting Beat
We want to also report that the current president of the CME Group Craig Donohue is fingering CFTC Chairman Gary Gensler for engaging in intimidation, bribery and enabling massive ratio distribution financial fraud in signing off on crooked accounting procedures by the aforementioned banks in their out-of-control proprietary trading that has put the exchanges (CME Group) reserve requirements in jeopardy.
http://www.myspace.com/tom_heneghan_intel/blog/545684070
@pourty
I trust Apple less than Microsoft. There's been scuttlebutt for years now about Apple and govt backdoors. The fact that they are so clandestine is exactly what makes them so suspect (Fed anyone??). If they let the Indians in, I see no reason why they wouldn't let in the US spooks.
Which is why it's best to build your own PC (as you do)...and install your favorite LINUX distro on it! Unfortunately, I don't like LINUX, as it's a pain in the arse.
Last Comment for Page SEVEN!
Last Comment for Page SEVEN!
Feels way Better than being FURST, Bitchez!
Better company too........................
FURST comet PAGE Eight !
FURST comet PAGE Eight !
@Bam
like I said, "ever so slightly"...
I hear you about Linux, I like the concept, but the execution is still not ready for primetime, IMO. It's still much easier to manage a windows system. I load up Linux every couple of years to see whether it's reached nirvana yet. As of Fedora 14... sadly... no.
Linux runs the world.
"execution is still not ready for primetime, "
How do you think smart bombs are deployed. Or drones for that matter.
'Changing the Way the World Works'
Linux itself turned 20 just last year, of course, so the fact that SUSE has made it this far as well is a testament both to its own merits and to those of the free and open source operating system in general.
SUSE's Brauckmann, in fact, put it nicely.
"In the larger scheme, Linux is arguably one of the most influential technologies of our time,” he said. “It's providing the backbone for mission-critical, high-performance business and technical applications that are changing the way the world works.”
I couldn't agree more. Happy birthday, SUSE.
No operating system is perfect, of course, but when it comes to giving users control of their computing environments, Linux takes the proverbial cake.
@Jasound
I mean for general computer users on a PC. It's NOT user friendly like Windows or MacOS.
At the time that a user can plug in a CD, do a basic handsfree installation, and get everything to work from the start without having to tweak 50 things, give me a call.
Heck, you can't even do basic SMB directory sharing over your local network without figuring out a bit about IPSEC and firewalls. And you have to search to hell and back to find user friendly GUI apps which will let you configure stuff without learning BASH or CSH. I'm a technical user and can navigate it, but "ready for primetime" is when my mom or my wife can load it up and use it without hassle (kind of like Windows or MacOS).
50 Places Linux is Running That You Might Not Expect
http://www.focus.com/fyi/50-places-linux-running-you-might-not-expect/
RE: 50 Places Linux is Running...
You can just sum it up to say: "Linux runs in lots of places which have IT departments".
My kids laptops use Linux (mostly for my convenience, not theirs). Guess who our IT department is? (Hint: it's a one-man show...). And they fight over who gets to use the Desktop PC running Windows 7... guess why? (Hint: not gaming).
Its so easy! And free Like free beer
http://www.opensuse.org/en/
Proof that we've hit a bottom in PM's...
The current main topic on TFMR is Linux.
Windows 7 is
Windows 7 is Great!
WHY?
"Because Windows 7 is SUSE LINUX!"
Kind of Like............................
"SOLENT GREEN IS PEOPLE!"
Time for bed
Here's lullaby.
I know this may sound opinionated, but...
I think all Microsoft-based operating systems should have been banned from accessing internet years ago (actually, since the internet was born). So much misbehavior and malpractice of associated standards included. (And I'm not even referring to the amount of malware and inherently broken security models in them here.)
And on personal computer user level, I don't think that technological ignorance is a valid excuse why someone should be allowed to access the internet from a Microsoft-based platform. If the users don't have a clue, they should use at least Mac instead.
(I myself am a highly satisfied GNU/Linux operating system user for a good 10+ years now. If I really need to use Microsoft products for something, I can run them in a contained environment, on top of the running OS. See eg. Google search results for 'VirtualBox' if you would like to know more about it)