grumpy-old-man
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Posts posted by grumpy-old-man
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This is an extremely interesting read, lot's of anecdotal, so if you tend not to like anecdotal then don't read it.
https://www.kitcomm.com/showthread.php?t=67211
It follows on from some of those recent vids I posted.
Daystar's comment (3rd post) is very interesting & also post number 7 imo. You need to be well read in the right areas to understand this though. Enron style accounting was all lost in building number 7 you know, handy that. I wonder how they will lose the paper trail this time ??
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Errr... we haven't had hyper-inflation.
Most have seen an ongoing economic crisis.... though the way in which it plays out could surprise many.
Hi RH,
Errr......we are in a hyperinflation, right at the early stages imo......remember that brilliant chart & data from FOFOA that Steve Netwriter posted a few weeks ago, well the US & UK one will look very similar, the problem is that (as with most data), it comes out after the event has happened. Far too late for the majority. I like to be a minority case, contrarian as per usual.
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more & more info on the possibility on shortage of physical silver:
The Bank of Nova Scotia in their year end filings show a monstrous negative to its position on silver and gold:
"from Adrian Douglas of Lemetropolecafe.com:
I wouldn't mind betting that Scotiabank doesn't like the attention that it got courtesy of GATA that they didn't have Harvey Organ's silver in 2008 that they were supposed to be storing. Just for the record if anyone doubts the Harvey Organ anecdotal evidence here is some compelling evidence on the precious metals predicament of Scotiabank in 2008 from their very own accounting:
BANK OF NOVA SCOTIA ANNUAL REPORT
http://scotiabank.com/images/en/file...otia/19578.pdf
Here is an extract from the Bank of Nova Scotia 2009 Annual report. Liabilities for gold and silver certificates 5.619B$ and Precious Metal assets 2.426B$.in other words naked short 3.18B$ by their own accounting! The price of precious metals would be very different if this 3.2 B$ of customer money paid to them for buying PM's had actually gone to making real purchases of physical metal. They were 1.94 B$ net short of PM's in 2007 also."
Here another good link:
http://harveyorgan.blogspot.com/2010/09/se...commentary.html
if you scrol down past the charts'n'stuff, you will come across this:
"Adrian Douglas reports:
From what I hear the premiums over spot for immediate delivery in the London market have increased dramatically such that some buyers are motivated to buy on Comex which allows buying without paying a premium. It will be interesting if the shorts can deliver silver to them because these are not speculators playing for cash gains; these are serious bullion buyers. The OI together with the issued delivery notices indicate the potential amount standing for delivery could be 13.5 Mozs or 25% of the dealer inventory.
In gold, we are also hearing the same story."
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GOM all the physical holders are just chilling out waiting for the TSUNAMI to appear they probably dip in now and then but dont need to be glued to pcs watching daily movements thats for the traders.
Also your question about how many actually have physical i would say very few thats why when i hear the expression GROUP think i laugh my head off.
agreed fitkid.
try not to get banned, otherwise we will miss your input.
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GOM, for the record I appreciate all your findings. I am just so busy at the moment I don't have time to comment.
Every day, I leave my home and wonder if this will be the day the music stops. I kinda have that feeling at the moment.
I'm pretty much fully in with liquid worth. Not worried at all. (Actually, if anything am concerned about not being worried! - classic sign of a top!) - but I simply know there is no place i'd rather be right now. Even if I lost half my paper value, I simply don't care. I am not playing the paper games any more.
I am safe where I am from the risks I see. If gold collapses and fiat is proved to be ok, then great. My pension should be worth something. If however, as I suspect, fiat is a confidence game and the music is about to stop (starting somewhere like Ireland), then I'm still safe. So I am simply waiting for the tsunami, as Fitkid says. And if it doesn't come, fine!
Hi chris ct,
same comment as I said to Schaublin, plus:
I agree it feels like any day now.
My comment was aimed at the posters who have mocked me over the last 2 years tbh. Plenty have called me a troll or conspiracy nut, just proving I am not. Everything is coming true, all that was predicted from a monetary pov (of which I always acknowledge those that helped me get to this point).
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GOM, I am sure there are many who have followed your links - guests as well as members. The guests cannot, of course, say thanks but just for the record; Thanks for the good links!
Hi Schuablin,
you know me well enough to know that I wasn't really looking for any type of accolade, I was just making a point.
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Don't forget to post when you see it. I hope they do the reduced VAT 1 kg libertads again soon...
they did that once with me, (charged me 7%vat ) but emailed me back the next day to let me know that they got the price wrong....it was on a sizeable order also.....bu55er.
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I'd be happy with silver at 100. Very happy.
yes indeed, with property/land down at least another 60% from todays prices also.......
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BNP Paribas have buys physical
silver at $20.58....http://AgAuPM.com/bnp-paribas-buys-physical-silver-at-20-58
now what does this tell you ?
It should be screaming at you.......
you should be very worried if you are sitting in dollar or sterling fiat imo.
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I keep posting all these great articles & links & yet virtually no replies (I think I have had one reply in 4 threads), makes you wonder who really is fully in & who really has any physical metal imo.
anyways......another nice article for you all to enjoy:
http://www.marketwatch.com/story/gold-futu...obex-2010-09-20
At the moment, there is a “lack of major news to prevent a sell-off in gold,” said Chintan Karnani, chief analyst at Insignia Consultants in New Delhi. He referred to gold’s current rise as “too much money chasing too few goods.”
“Investors are invested in gold ... and they are not exiting their gold investments,” he said, pointing out that “fundamental gold is bearish as there is no demand, but gold has now become a paper asset.”
obviously it won't be a striaght line to the top:
But “technically overbought conditions exist” in the gold market and “a correction of $50-$60 should happen anytime before the next leg higher to $1,376,” Karnani said.
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warning number 873.....
http://agaupm.com/comex-dealers-borrow-phy...ased-inventory/
"Comex Dealers Borrow Physical Silver Despite Reporting Increased Inventory"
"Uff, this one really puzzled me so I put few hours into investigating which side is not honest and what explanation could be made for what’s currently happening at Comex – regarding physical silver.
By looking Comex daily inventory reports, open interest contracts left to deliver physical by the end of Sep 2010 and delivery notices sent to clients waiting on physical silver, I crunched numbers and come up with a logical explanation.
Here goes.
As of yesterday, there are 1,513 OI contracts left to deliver physical silver by the end of Sep 2010 (each contract stands for delivery of 5,000 ounces of physical silver).
2 days ago this number was at 1,621 with delivery notice of 148 contracts so yesterday’s OI contracts left should be 1,473 (and not 1,513).
This already provides us with first interesting discovery…
…that actually there were additional buyers of Sep 2010 contracts that got scared of waiting on Dec 2010 (next delivery month for physical silver) and are panicking to get their physical silver already this month.
This new buyers panic to get additional 40 contracts equaling 200,000 ounces of physical silver.
I can’t stress this enough – this additional buyers want to trade their paper silver (Dec 2010 silver contracts) for physical silver and are scared to wait on Dec 2010 to get physical and are pressing COMEX to deliver them physical silver already this month.
Next info from latest Comex silver inventory report is that yesterday 354,346 ounces were withdrawn from Comex’s customers inventory.
And for the biggest revelation is same report that showed that on September 7th 2010, Comex dealers took a lease from Comex customers for 2.3 million ounces of physical silver (actually 2,298,863), equaling 460 contracts.
Why are dealers leasing from customers (which cost them certain fee), when they report to store in Comex warehouse 54.1 million ounces?
If they owned 54.1 million ounces of physical silver – why would they pay storage and insurance fee on this reported silver, plus paying a new fee to lease additional 2.3 million ounces of silver from customers?
With total number to deliver in Sep 2010 being around 13 million ounces and dealers reported registered silver inventory being 54.1 million ounces, there shouldn’t be a problem to just deliver this amount and still have 41.1 million in their warehouses.
Are they so generous to pay so many fees (insurance, storage, lease…) or they actually don’t own this reported 54.1 million ounces of PHYSICAL silver?
Paper silver is in abundance but when clients demand 15 million ounces of physical then we see what’s happening."
"Conclusion of this messy stuff going on at Comex this month is that Comex don’t own as much physical silver as they claim."
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physical......
https://www.kitcomm.com/showpost.php?p=1079...mp;postcount=13
"In another interesting development, a buyer of a COMEX gold contract for delivery in September 2009 just received confirmation that the physical gold has finally been posted to his account. …The buyer noted that the broker’s rules for owning this particular bar have changed from past practice. … The new limitations on how the bar may be treated I interpret as a further sign of growing physical shortage in the COMEX gold and silver inventories.
If you don’t mind having to wait a year for delivery of your COMEX inventory, then you can consider owning a COMEX contract. If you want to make sure that you have the physical metal, though, get it in your own custody immediately."
believe what the paper certificate says or believe what your own eyes see ?
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when you have digested that last post, feel free to dig into this vid, part 1 of 3, so get the other 2 on youtube.
From:
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link from Strongman Shelford this guy is a fantastic poster, lived through the Argentinian Hyperinflation & is very humble.
his post on glp said:
"CANADA MAINSTREAM MEDIA CANCELLED INTERVIEW ABOUT GOLD SUPPRESION
Quote
sO BASICALLY NOw, silver is exploding. Gold is making new record highs.
it is said that JPMORGAN is closing short positions.
(check my previous threads)
They are getting ready for more inflation? war? Why gold and silver are going now?
There is a GOLD SUPPRESSION SCHEME in the financial markets.
Your local mainstream media won`t tell you about it!
Look what has just happened in Canada!
Strongman Shelford
In the space of a few hours last week, Canada's Business News Network invited GATA Chairman Bill Murphy to be interviewed at its headquarters in Toronto during the Toronto Resource Investment Conference next weekend and then withdrew the invitation on the grounds that GATA is "too controversial." GATA is unaware of anything it did in those few hours to become particularly more controversial than when the invitation was made, and so people may wonder whether BNN has fallen victim to pressure from outside sources that don't want the gold price suppression story to be reported even in a major gold-mining nation. Canadians who would like to see Murphy interviewed on BNN anyway can express themselves to the network here:
http://www.bnn.ca/contactus.aspx
Of course being anything except polite will not help.
Murphy discusses the BNN invitation's issuance and withdrawal in commentary posted today at GoldSeek, "Lack of Free Press in Canada," here:
http://news.goldseek.com/LemetropoleCafe/1284937260.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Source: http://www.gata.org/node/9030"
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link from Strongman Shelford this guy is a fantastic poster, lived through the Argentinian Hyperinflation & is very humble.
his post on glp said:
"CANADA MAINSTREAM MEDIA CANCELLED INTERVIEW ABOUT GOLD SUPPRESION
Quote
sO BASICALLY NOw, silver is exploding. Gold is making new record highs.
it is said that JPMORGAN is closing short positions.
(check my previous threads)
They are getting ready for more inflation? war? Why gold and silver are going now?
There is a GOLD SUPPRESSION SCHEME in the financial markets.
Your local mainstream media won`t tell you about it!
Look what has just happened in Canada!
Strongman Shelford
In the space of a few hours last week, Canada's Business News Network invited GATA Chairman Bill Murphy to be interviewed at its headquarters in Toronto during the Toronto Resource Investment Conference next weekend and then withdrew the invitation on the grounds that GATA is "too controversial." GATA is unaware of anything it did in those few hours to become particularly more controversial than when the invitation was made, and so people may wonder whether BNN has fallen victim to pressure from outside sources that don't want the gold price suppression story to be reported even in a major gold-mining nation. Canadians who would like to see Murphy interviewed on BNN anyway can express themselves to the network here:
http://www.bnn.ca/contactus.aspx
Of course being anything except polite will not help.
Murphy discusses the BNN invitation's issuance and withdrawal in commentary posted today at GoldSeek, "Lack of Free Press in Canada," here:
http://news.goldseek.com/LemetropoleCafe/1284937260.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Source: http://www.gata.org/node/9030"
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"For several months there have been constant rumors that the financial markets would be clobbered by some kind of unexpected horrible development in September. Several commentators have referred to this expected coming bad news as the “September Surprise.” The expected result of this bad news is that the prices of gold and silver would soar while the value of paper assets plummeted.
Well, we have gone more the first half of the month without such an exciting development. Jim Willie, who writes the Hat Trick Letter, has information from his sources that the September Surprise could happen as early as next week."
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got allocated silver, or that funny ETF stuff or some other illusionary paper promise ?
read all of this thread:
https://www.kitcomm.com/showthread.php?t=67009
Page 1 revitup op says:
"During 08 and 09 I purchased 3 silver Certificates from the TD Canada Trust bank. Well this week I have tried to take possession and backed up the truck. I have been getting the run around. This is now my second attempt and I have been waiting for the call all day to say they will deliver. The last I heard was that they could only fill the order with 1000 oz ingots and that delivery was going to be $400 for the Brinks truck. I said no problem and that was at about 9:30 this mornig. I have been getting the feeling that they do not have it since they have not returned my calls.
I will keep you posted as to what TD comes up with.
My question is what should I do/say if they can't deliver?"
then revitup the op said on page 3:
"I just went down to the bank and talked to my contact there. The bank said there phones were down in the afternoon due to the fact that the bank will be moving (true). My cantact said she called me at work, after I had left. In any event the bank re-ashured me that they have the silver and will call me tomorrow afternoon. Heres hopeing.
The fine print on the certificates:
1) The holder of the certificate accepts the risk of non-delivery for any reason beyong the control of the bank.
2) Fabrication and handling charges will be charged at the time of delivery.
3) The bank reserves the to require five business days notice for delivery of the silver upon surrender of this certificate."
tbc.......watch closely......
you have been warned many times before......."FORCE MAJEURE"
If you can't touch it, you don't own it
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Alan Greenspan spoke at the Council on Foreign Relations earlier today, and what was his advice?
Said the former Fed chairman: “If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.”
he actually spoke 2 days ago on the 15th, but I put this up earlier Errol:
sorry if its already been posted:http://www.zerohedge.com/article/guest-pos...s-just-shrugged
Submitted by Adrian Douglas of GATA
Adtlas Just Shrugged
On September 15 former Federal Reserve Chairman Alan Greenspan made a speech to the Council on Foreign Relations. Some very interesting comments he made with respect to gold in response to a question were reported in an editorial in yesterday's New York Sun, "Greenspan's Warning on Gold":
http://www.nysun.com/editorials/greenspans...g-on-gold/87080
On this occasion Greenspan, who has been famous for gobbledygook that leaves the audience guessing what he meant, did not mince his words. He said, "Fiat money has no place to go but gold."
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sorry if its already been posted:
http://www.zerohedge.com/article/guest-pos...s-just-shrugged
Submitted by Adrian Douglas of GATA
Adtlas Just Shrugged
On September 15 former Federal Reserve Chairman Alan Greenspan made a speech to the Council on Foreign Relations. Some very interesting comments he made with respect to gold in response to a question were reported in an editorial in yesterday's New York Sun, "Greenspan's Warning on Gold":
http://www.nysun.com/editorials/greenspans...g-on-gold/87080
On this occasion Greenspan, who has been famous for gobbledygook that leaves the audience guessing what he meant, did not mince his words. He said, "Fiat money has no place to go but gold."
oh and thanks to cdswamp (swampy) for the link & heads up on that very important GATA post.
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sorry if its already been posted:
http://www.zerohedge.com/article/guest-pos...s-just-shrugged
Submitted by Adrian Douglas of GATA
Adtlas Just Shrugged
On September 15 former Federal Reserve Chairman Alan Greenspan made a speech to the Council on Foreign Relations. Some very interesting comments he made with respect to gold in response to a question were reported in an editorial in yesterday's New York Sun, "Greenspan's Warning on Gold":
http://www.nysun.com/editorials/greenspans...g-on-gold/87080
On this occasion Greenspan, who has been famous for gobbledygook that leaves the audience guessing what he meant, did not mince his words. He said, "Fiat money has no place to go but gold."
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I think all agree that silver is more speculative than gold. I think near all first have a core position in gold, and then a position in silver [not sure about gf though ].
The particular weighting you chose, would then just come down to individual preferences.... I'm more overweight gold because I lean more to the "deflationary" risk averse side of things.
I have a core position in physical silver, 60%ish & 40% physical gold.
agreed that silver is more speculative than gold RH, historically speaking.....but who knows going forward ??
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interesting.....
http://seekingalpha.com/article/225579-con...et-gold-hearing
"Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it's also trying to prevent you from parking your wealth in assets, like gold, that compete with the paper dollars issued by the Federal Reserve and the Treasury. A press release from Rep. Anthony Weiner, Democrat of New York, not yet (as of this instant) posted on Mr. Weiner's Web site, announces that a September 23 hearing of the Subcommittee on Commerce, Trade, and Consumer Protection (a subcommittee of Rep. Henry Waxman's Commerce Committee) will focus on "legislation that would regulate gold-selling companies, an industry who's [sic] relentless advertising is now staple of cable television."
From the press release: "Under Rep. Weiner's bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold." That's great. Are Mr. Weiner and Chairman Bernanke also going to agree to print on every dollar the reasonable expectation that its value will be eroded by inflation?"
GOLD
in Gold, FX, Stocks / Diaries & Blogs
Posted
some are even starting to get worried about physical allocation in Bullion Vault. This is a sign of the times isn't it......
https://www.kitcomm.com/showthread.php?t=67184