With the Dow down 632 points and gold up about $50 I think we see a HUGE DISTRUST of our .gov to do anything right.
I heard NOTHING reassuring from the president today, it looks to me like he wants RAISE taxes.
Even if the PPT (or anyone else) comes in with piles of money buy the S&P futures to "save" the markets, it will ultimately fail, as it always has.
Gold is still cheap at $1700. Do not let price pullbacks dissuade you or bother you. These are part of the deal. "It is all about the ounces" <--- from the philosophical king of my clan of the PM tribe. Do not wait to BTFD. Just buy.
And when your life's end is at hand, you will have the best physical gift for your child/ren. Have faith in gold. And more in God.
---
I am going OFF the grid after about 10:00 pm ET tonight, and it will be for a while. Nothing is wrong, and I will tell you why after I am back up.
So, until I re-surface, any of your emails will be unanswered... Please save yourselves the aggravation of non-responses by not sending me anything!
Best to you all, and thanks for coming by!
Monday, August 8, 2011
Sunday, August 7, 2011
Downgraded! Let's See What Happens Next!
^---- Well one thing happening is that gold creeps close to $1700. Maybe by the time you read this, we will have crossed over. While this MAY be good for me, it is NOT a good indicator that our country's trajectory is in the right direction...
Your congenial host can only presume that gold will go up, up and away until our country gets its act together re spending. Each of you is capable of checking current financial info as I am (and most of you will read this after markets have moved for hours) so I will not try to update you re specific markets.
The MSM (CNBS) is saying, yeah, we all saw this coming, blah, blah, blah. What they are NOT saying is what we have to do (for real anyway) to bring our country back: cut spending. We all know it. Maybe taxes do have to go up, but the real problem is SPENDING!
This whole thing feels so Lehman-esque, so September 2008, but with the kicker of bad sovereign debt (Europe, we can "just" inflate ours away...). I hope that I am wrong. I really hope that things work out OK for us, but they may not.
History shows that sometimes "SJGR", maybe we are there. I'll see you on the other side friends.
Your congenial host can only presume that gold will go up, up and away until our country gets its act together re spending. Each of you is capable of checking current financial info as I am (and most of you will read this after markets have moved for hours) so I will not try to update you re specific markets.
The MSM (CNBS) is saying, yeah, we all saw this coming, blah, blah, blah. What they are NOT saying is what we have to do (for real anyway) to bring our country back: cut spending. We all know it. Maybe taxes do have to go up, but the real problem is SPENDING!
This whole thing feels so Lehman-esque, so September 2008, but with the kicker of bad sovereign debt (Europe, we can "just" inflate ours away...). I hope that I am wrong. I really hope that things work out OK for us, but they may not.
History shows that sometimes "SJGR", maybe we are there. I'll see you on the other side friends.
Fish Stories...
A lot of my readers are from the testostorone-fueled world of Zero Hedge, where traders are manly and call each other bitchez! This article is for you guys!
It has been a tradition in my family to go to Costa Rica once in awhile on sport-fishing expeditions. The Pacific Coast of C.R. offers some of the best deep sea sport-fishing around. The main target fish are sailfish, marlins, dorados, rooster-fish and tuna. So, I will share some pictures and anecdotes from one our trips there. Email me if you ever want serious details if you ever want to go yourselves (my brother plans these trips and has the contact info).
On this trip there were 9 of us, our groups are typically between 6 and 19 (!). Sorry, no ladies!
The below photo is my Peruvian brother-in-law Oscar (closer to camera) about to land a sailfish. Sailfish and marlins, under Costa Rican law, have to be let back into the sea, "catch and release".
The picture below is ME reeling one in. YES, my wife is always telling me to eat more...
The below is my brother with his catch of the day!
The below picture, taken by my friend, shows (l - r) my wife's brother Oscar, me and her father Eleodoro, who was 86 years old when the picture was taken (he is now 90). Careful observers might note bearing brand logos on a couple of those T-shirts.
And the "piece de resistance" is Eleodoro himself with the dorado (aka "dolphin fish or "mahi-mahi") he brought in. That fish fed all 9 of us that night in town at our favorite restaurant there, with enough meat to be prepared three different ways.
It might be useful to note that Eleodoro NEVER smiles for camera pictures. Only two such photos exist...
Bring that fish in Eleo!
It has been a tradition in my family to go to Costa Rica once in awhile on sport-fishing expeditions. The Pacific Coast of C.R. offers some of the best deep sea sport-fishing around. The main target fish are sailfish, marlins, dorados, rooster-fish and tuna. So, I will share some pictures and anecdotes from one our trips there. Email me if you ever want serious details if you ever want to go yourselves (my brother plans these trips and has the contact info).
On this trip there were 9 of us, our groups are typically between 6 and 19 (!). Sorry, no ladies!
The below photo is my Peruvian brother-in-law Oscar (closer to camera) about to land a sailfish. Sailfish and marlins, under Costa Rican law, have to be let back into the sea, "catch and release".
The picture below is ME reeling one in. YES, my wife is always telling me to eat more...
The below is my brother with his catch of the day!
The below picture, taken by my friend, shows (l - r) my wife's brother Oscar, me and her father Eleodoro, who was 86 years old when the picture was taken (he is now 90). Careful observers might note bearing brand logos on a couple of those T-shirts.
Bring that fish in Eleo!
Saturday, August 6, 2011
First Indicator?
IIRC, Fox News Channel (Neal Cavuto) said the Saudi stock market was down 5% in today's (Sat.) trading.
Friday, August 5, 2011
S&P Downgrade
I plan to have LOTS of popcorn (and adult beverages) close by Sunday evening when the markets open in Asia due to the S&P downgrade of our debt to AA+, a two step downgrade.
ZH has a LOT of comments on their main thread about this. There does NOT seem to be a consensus on what will happen Sunday / Monday.
At 24hgold.com I saw only an 8% or so premium in the widget (at bottom of their home page) of eBay price for AGEs vs. the spot price. This will be one indicator of how much Americans are worried about this (or not).
APMEX might be another, if they sell out or sell BIG this weekend.
Anyone who buys gold at a coin shop on Saturday, please share your experience here! I bought mine this afternoon before the S&P downgrade.
I will be at the ATM each day for the next couple of days, taking out the max...
---
Please comment or email me with other indicators that we can see in advance of Sunday evening trading...
Edit:
And I will post such indicators ASAP...
ZH has a LOT of comments on their main thread about this. There does NOT seem to be a consensus on what will happen Sunday / Monday.
At 24hgold.com I saw only an 8% or so premium in the widget (at bottom of their home page) of eBay price for AGEs vs. the spot price. This will be one indicator of how much Americans are worried about this (or not).
APMEX might be another, if they sell out or sell BIG this weekend.
Anyone who buys gold at a coin shop on Saturday, please share your experience here! I bought mine this afternoon before the S&P downgrade.
I will be at the ATM each day for the next couple of days, taking out the max...
---
Please comment or email me with other indicators that we can see in advance of Sunday evening trading...
Edit:
And I will post such indicators ASAP...
Today at the Coin Shop
Today I went and bought a little bit of gold. At the coin shop, there was a lady behind me, middle aged. She had a gold coin in a pendant on a gold chain. She told me that she was there to sell it. She asked me what it might be worth (a gold 1971 Rand, a coin I am not familiar with). I asked her if could examine it, it seemed to weigh about 1/5th of an oz. So, I told her maybe she could get $300, but that the coin shop guy was the expert, not me.
She then dropped the bomb: margin call...
I wished her good luck.
---
There is real pain out there due to the meltdown this week.
Thursday, August 4, 2011
The Evil Empire Strikes Back!
^--- Take a look above! They do not even try to hide the manipulation anymore. They own the MSM...
My understanding is that one of the exchanges raised margins on gold trading, but if you want more reliable information at this stage, I would go to tfmetalsreport.com as Mr. Ferguson is MUCH better connected than I am with short term moves, trading, and the clear manipulation going on.
This changes NOTHING re buying and holding gold.
Debt Ceiling Agreement? Just more spending, debt, lies and taxes.
BTFD. BTFS. Buy.Gold.Now.
As I write, the DOW is down 400...
---
www.zerohedge.com crashed for awhile today. I was with my only friend who follows these kinds of events. We thought it was also the Evil Empire at work. Turns out it was very heavy traffic (the most since the Flash Crash) that BLEW UP one of their overseas servers...
Update on Zero Hedge (2:45 PM ET):
About 80% of the time I try to get on ZH, I cannot get through.
My understanding is that one of the exchanges raised margins on gold trading, but if you want more reliable information at this stage, I would go to tfmetalsreport.com as Mr. Ferguson is MUCH better connected than I am with short term moves, trading, and the clear manipulation going on.
This changes NOTHING re buying and holding gold.
Debt Ceiling Agreement? Just more spending, debt, lies and taxes.
BTFD. BTFS. Buy.Gold.Now.
As I write, the DOW is down 400...
---
www.zerohedge.com crashed for awhile today. I was with my only friend who follows these kinds of events. We thought it was also the Evil Empire at work. Turns out it was very heavy traffic (the most since the Flash Crash) that BLEW UP one of their overseas servers...
Update on Zero Hedge (2:45 PM ET):
About 80% of the time I try to get on ZH, I cannot get through.
Tuesday, August 2, 2011
Great Day For Gold -- Bad Day For America
As I write, gold sits around $1654 per ounce, making a massive $40 intraday rally today. I will allow www.tfmetalsreport.com to provide detailed information, as I do not have it.
But, with Korea picking up 25 tonnes yesterday and the huge move up today leads me to think that the Gold Train is picking up steam and that physical gold may be harder to come by even as its price goes up. Some of the analysts most of us follow predict we will see $100 up days on occasion. I believe that will indeed be the case.
Gold is still cheap. Never let it go... Unless you give it away... ;)
---
Without doubt part of gold's rise (again I would refer to TF's great site) has to be the
The Really Bad Debt Deal
made by our political leaders in Washington. They will NOT cut spending. And spending IS the problem. We all know that. Right after the Senate voted for the Deal, why Obama and Harry Reid both then came out and gloatingly said they need to raise our taxes!
Even the ratings agencies have taken notice of our corrupt and weak politicians. Our leaders are NOT LISTENING to us.
Scores today:
Team Gold: +$40
Team USA: -$2,000,000,000,000
A train wreck lies ahead. Please prepare accordingly.
But, with Korea picking up 25 tonnes yesterday and the huge move up today leads me to think that the Gold Train is picking up steam and that physical gold may be harder to come by even as its price goes up. Some of the analysts most of us follow predict we will see $100 up days on occasion. I believe that will indeed be the case.
Gold is still cheap. Never let it go... Unless you give it away... ;)
---
Without doubt part of gold's rise (again I would refer to TF's great site) has to be the
The Really Bad Debt Deal
made by our political leaders in Washington. They will NOT cut spending. And spending IS the problem. We all know that. Right after the Senate voted for the Deal, why Obama and Harry Reid both then came out and gloatingly said they need to raise our taxes!
Even the ratings agencies have taken notice of our corrupt and weak politicians. Our leaders are NOT LISTENING to us.
Scores today:
Team Gold: +$40
Team USA: -$2,000,000,000,000
A train wreck lies ahead. Please prepare accordingly.
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