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To quote Richard Russell

Submitted by Roanman on Fri, 12/30/2011 - 17:14

 

From today's installment of Richard Russell's Dow Theory Letter.

 

Below are the last day of the year quotes for gold.

2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00 

2009 -- $1096.50
2010 -- $1421.40
2011 -- $1566.80

This year's close for gold marks the 11th year for higher year end gold closing.

To my knowledge this is the longest bull market of any kind in history in which each year's close was above the previous year.

This fabulous bull market will not end with a whisper and a fizzle. I continue to believe that the upside gold crescendo of this bull market lies ahead.

We are watching market history.

 

To quote Keith Neumeyer, President and Ceo of First Majestic Silver Corp.

Submitted by Roanman on Sun, 11/27/2011 - 18:52

 

The following was taken from an interview with Ron Hera of Hera Research that was published at Seeking Alpha this past weekend.

Keith Nueman's resume' was too heavy to cut and paste.

One must take into account that Mr. Neumeier has silver for sale so keep that thought in mind when considering his opinions on the price of silver going forward, but this is a man with tremendous experience dealing in futures markets as both a supplier/hedger and an investor/broker/dealer.

When he tells you the deal is rigged you have to take it seriously.

Click anywhere below for the entire interview.

Recommended

 

Keith Neumeyer: The job of the regulators is to protect the retail investor. That’s their only job. It’s not to protect the banks or the brokerage firms. The little guy is the primary taxpayer. Why were the Securities and Exchange Commission (SEC) and the CFTC put in place? They were put in place to protect retail investors. Prior to regulation, the banks controlled the market. Today, the banks control the market again. Who should control the market? Retail investors. Who’s protecting them? No one.

HRN: Are you saying that the CFTC does nothing while the COMEX caters to banks and brokerage firms?

Keith Neumeyer: Yes.

HRN: And the COMEX doesn’t serve retail investors?

Keith Neumeyer: No. Absolutely not.

HRN: Do you foresee a return to a free market in the future?

Keith Neumeyer: I’m an optimist. I believe one day that governments will rewrite the rules and force the regulators to protect investors. That’s where we were back in the ‘70s and that’s where I think we have to be again to correct the problems that have arisen over the past 40 years. Silver is being revalued. It’s going to affect a lot of people along the way and it will change the financial system. Ultimately, we’re going to have a new financial system and, hopefully, we’ll go back to natural markets, completely driven by supply and demand. It may take another 20 years but I think it will happen.

HRN: A new financial system?

Keith Neumeyer: If I’m wrong, the banks will run the world, even more so than they do today, 10 or 20 years from now. God forbid that we ever get there because that’s a one currency, one government world that would absolutely be a disaster for the human race. There would be no freedoms at all to move or to invest. It would be like having shackles on our ankles. There is a movement to go in that direction, unfortunately. There are a number of very wealthy people that want to see that. I hope that we can find the politicians to prevent that type of world from coming to pass.

 

Instructive in light of the following quotes.

Don't you think?

 

 

Since we're on the subject of slime, it's back to JP Morgan and MF Global.

Submitted by Roanman on Mon, 11/14/2011 - 11:39

 

The following is the punch line to a white paper by John Roe, and James L. Koutoulas, Esq. concerning the disposition of stolen assets trapped in the MF Global fiasco.

Click anywhere on the excerpt below for a very short and well written paper which also serves as a primer on the how, the what, the who and the why of commodities trading.

Way super double highly recommended. 

 

By subordinating customers with collateral in segregated funds to creditors of MF Global's estate, the Trustee is essentially making the creditors the beneficiary of a criminal act.  If MF Global comingled segregated funds with corporate assets, it was a criminal act.  Paying such a creditor's claim with a portion of those comingled funds would make them a beneficiary of that crime.  Paying JP Morgan with an Iowa farmer's money is not only morally and legally wrong, it risks the future of the American economic model.

 

Commodities accounts were reputed to be regulated by an entity of the federal government known as the Commodity Futures Trading Commission.

It's true mission however is to assist large Wall Street Banks in their theft of middle class America's wealth.

Click this little gear here for our recent piece concerning former Goldman Sachs great, Democratic Senator from New Jersey (is that better Robert?), Democratic Governor of New Jersey, well known Democratic and Obama fundraiser, and MF Global CEO John Corzine who famously lobbied the CFTC in order to prevent the instituition of rules associated with the Dodd-Frank legislation that would have prevented MF Global from commingling client's money with it's own and thus would have prevented this 630 million dollar theft.

 

Sometimes a chart ...

Submitted by Roanman on Sat, 05/28/2011 - 14:20

 

We've posted several different charts demonstrating this same idea over the past couple of years.

This one happens to come from Bullion Management Group using data supplied by The Sauder School of Business via R.E. McMaster.

When people start talking about Governments defaulting on their obligations via inflation, this is exactly what they're talking about.

You might want to think that the price of Gold or stocks or gasoline or cornflakes is going up.

When what is really happening is that the purchasing power of your Dollar or Euro or Pound is going down.

 

 

And they're all doing it.

 

Good news from the Wall Street Journal

Submitted by Roanman on Mon, 05/09/2011 - 06:16

Who owns the Fed?

Submitted by Roanman on Tue, 04/26/2011 - 17:32

 

What a sordid adventure this has been.

A month or so ago I asked myself a question,

"Who owns the Fed?"

Foolishly thinking that having asked that question, at about 8:30 am on a Saturday morning, I'd have a post done by noon at the latest.

Just another example of just how wrong one can be, when one is wrong.

If you ask the above question of your search engine, it goes nuts.

I read a lot of it.

I'm a little mad at myself here because if you follow some of this stuff far enough, you get to part about the escaped, homosexual, occultist Nazis hiding underground (literally) somewhere in Argentina ....... with grey space aliens.

I am not making this up.

Hell, I couldn't make it up.

Anyway, what I'm mad about is that I lost that link.

You can believe me when I tell you I'm lookin' for it.

But I digress.

 

Evidently lots and lots of people have asked this question, long before I did and have posted/published their answers.

Then a whole other group read the first group's post/publication/book and felt a need to dispute those answers.

 

Now, wouldn't you think that it should be easy to determine the ownership of something as important as the entity the controls the money supply of the world's largest economy?

This is the information age after all, don't you think that a simple list might be easily obtainable?

It ain't.

Factcheck.org provides the best start here  .

I'll wait.

Click it and read it dagnabit, it'll only take a minute and I'm trying to make a point here.

Thank you.

Now, if you click on their sources, from the Fed itself, you get this , and then this .

 

DO IT!!!

You don't even have to read anything this time.

See what I mean?

Hmmmmm, is all I have to say about this.

 

Then there are the vids.

The vids now, are a whole new ballgame.

And while a lot of the vids are very good and entertaining, none of it is as helpful as I would have liked in answering the original question, "Who owns the Fed?" because one needs to have a much better than none at all understanding of the nature of money, before any of the above makes even one lick of sense.

So, here's where I start.

The following comes from a definite Libertarian point of view, and while some may prefer a different viewpoint, it is very clear and easy to grab hold of.

It'll take about 40 minutes but you will most likely be entertained and a hell of a lot smarter about the world around you than you are now.

Go get a beer, a glass of wine, a cup of coffee, maybe a sandwich.

 

 

 

Got all that?

I'll be back on issues having to do with that non existant list in a bit.

 

The Median Single Family House Price Revisited

Submitted by Roanman on Fri, 04/22/2011 - 07:57

 

You've seen this one before.

From Chart of the Day, as stated at the top of the chart, this is the chart for the Median single Family Home price (Inflation-Adjusted) from 1970 to the present.

Notice the consolidation going on now at just under $160,000.

Consider the argument that people don't really buy the house that they like as much as they buy the monthly payment on a house that they can afford.

Then consider that interest rates sit at historic lows due to unprecedented efforts by the Treasury Department and the FED to hold the cost of servicing the federal deficit to as low a monthly/yearly number as is possible.

Then consider that when interest rates go up, the monthly interest payment on a new home purchase will also increase, making the monthly payment on the Median Single Family Home more expensive.

Now you now know why I'm calling this a "consolidation of losses" rather than a bottom.

Although, it would please me to no end to be wrong on this one.

As always, click the chart for the entire piece.

 

 

Now remember that good for nothing, smiling, shill Larry Kudlow yammering on and on about "The Wealth Effect" and how you needn't worry about anything and certainly not the economy because housing prices were so strong?

Now you know why, when the revolution comes, and if they're not out there looking for me, I'm goin' looking for him.

Among others.

 

Lloyd, Sister Mary Margaret would like to see you in her office.

Submitted by Roanman on Tue, 04/05/2011 - 07:03

 

From Katya Wachtel at Business Insiders, who has been doing a real nice job lately of providing fun but useful stories.

As always, the photo will link you up with the story.

 

Nuns Demand Goldman Sachs Explain Why It Paid $69.5 Million To The Top 5 Execs In 2010

Katya Wachtel   Apr. 4, 2011
 

 

Goldman Sachs will pay its top five executives just under $70 million for their work in 2010, and four orders of catholic nuns are demanding that the firm launch a review over whether the pay is excessive.

Lloyd Blankfein and his top lieutenants were awarded between $13 and $14 million for their work last year; they all received a cash bonus of $5.4 million.

The nun and charity group has asked that the firm's Compensation Committee reveal extremely detailed information about the compensation.

 

Hope she still has that damn yardstick.

 

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