Saturday, April 9, 2011

Saturday In Chicago

Greetings from a cold and cloudy Chicago, Illinois. The Turd lived here for a few years back in his youth and, frankly, I'd forgotten just how crappy the weather is here. I remember once going to opening day at Wrigley Field and leaving after the first inning when I realized my beer was freezing in my glass. Its not that cold today but its not spring here, either.

I've been sitting here, considering what I wanted to tell you today. Of course, I'm excited by the action yesterday. Its fun to be proven right again and its incredibly satisfying to know that so many of you have profited from visiting this site. The outpouring of gratitude is very much appreciated. It all is a little bittersweet, however. I spend a lot of time pondering, writing about and planning for the end of the current economic system. To see it happening...and happening with such amazing speed and acceleration...is somewhat unsettling. Please go back and re-read this:
http://tfmetalsreport.blogspot.com/2010/12/preparing-accordingly.html
The image of the coin circling the funnel faster and faster is the one that I can't get out of my mind. At the end, the bottom simply drops out. While I don't think we're at then end yet, there is certainly no question that our "coin" is dropping deeper into the funnel. As recently as late last year, when I suggested that the U.S. dollar would lose its "reserve currency" status sometime in the next 2-5 years, I was scoffed at. Ridiculed as some kind of rube who had no idea of how macroeconomics functioned. Now? Can the dollar even make it to 2012? http://www.zerohedge.com/article/soros-speaks
Regardless, the End of The Great Keynesian Experiment may be upon us even faster than we've thought. Continue to prepare accordingly.

OK, here are some items for you to consider as we wait for 6:00 EDT tomorrow. First up, take a look at this chart of the CRB. Note that the previous, all-time weekly high close was 683.68 back in early March. It closed yesterday at 685.42.
http://futures.tradingcharts.com/chart/RC/W
And look at the lousy, ugly POSX. It closed just barely above the intra-week low from November of last year so don't be surprised if we get a little rally next week, back up toward 76. However, it looks to be a fait accompli that it will soon test the lows of November 2009, just above 74.
http://futures.tradingcharts.com/chart/US/W

Here's some very interesting reading for you. First, a new article from Patrick Heller:
http://news.coinupdate.com/demand-for-physical-silver-rising-faster-than-supplies-0759/
Then, read this from Eric King and click around his site for a few minutes. A lot more than just this article merits your attention.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/4/7_John_Embry_-_Mr._Bernanke_is_a_Murderer_of_the_Middle.html
Gonzalo Lira has written an interesting new piece:
http://gonzalolira.blogspot.com/2011/04/relying-on-gods-from-machinery-weird.html
Lastly, Jeff Neilson wrote this piece where he states he is getting increasingly concerned that bullion confiscation is coming. As you know, I have a very hard time believing that but what do I know? I'm just a Turd.
http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=17770:real-bullion-begins-to-decouple-from-paper-bullion&catid=48:gold-commentary&Itemid=131

Finally, I've received many emails regarding gold miners. We've all made so much money in silver stocks like EXK and SVM that a lot of you are considering swapping some funds into some junior gold miners. Here are four that I've owned from time to time. I'd be thrilled if you could add your thoughts on your favorites in the comments section.

EGO: Has broken out of its downtrend and now looks headed to 20+.
http://finance.yahoo.com/q?s=ego&ql=1

GRS: Mister Hyde's favorite. Looks headed to 12 and beyond.
http://finance.yahoo.com/q?s=grs&ql=1

AUY: Now that its through 13, it looks headed to 14+, maybe all the way to 17.
http://finance.yahoo.com/q?s=auy&ql=1

RBY: Ole RBY has not been kind to Turd over the years. Watch it closely. If it can ever get through $6, it may be a sign that things are getting interesting.
http://finance.yahoo.com/q?s=rby&ql=1


That's it for now. Have a great weekend! Thanks for being a part of the blog. TF

346 comments:

  1. Thanks for posting on the road Turd! Have a safe trip and hope to hear from you again soon!

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  2. 1) anyone ever use bullonvault.com? any thoughts on them?

    2) Turd: how do you choose which futures options you get long so as to avoid overpaying for vol?

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  3. Jake... I was the "last" post on the other thread, so here:

    I don't think there is any way to have a generic "magic number" of grams or ounces per ton unless you know all the other costs involved with extraction... there would be a "sliding scale" of necessary yield depending on the other cost factors. Here is a VERY easy, current example:

    The Aynak copper filed in Afghanistan is believed to be at least the 2d biggest copper field in the world if not the largest. They know exactly what the yield is, however...

    The Chinese will have to put in... roads, rail, electricty... EVERYTHING. And I don't mean just run a spur from something existing, I mean there is not one foot of railroad track anywhere in Afghanistan. Issues like that.

    Lots and lots of factors.

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  4. and do you partially hedge on big upmoves ?

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  5. ps. I'm in Chicago its actually supposed to be nice today and get warmer!

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  6. It's Masters weekend! Hope everybody has a great weekend doing whatever they enjoy! I will be tipping back a lotta coldies, watching the Masters, and reading/studying all my favorites info sites. Along The Watchtower being my number 1! Great posts on last nights thread...Turd says it was a record. He can probably thank Erica for that, because her post generated a lot of response. I hope she got an info overload, because that's the best...when you get so much info that you need to study more!
    So it's Masters weekend...I'm pulling for Tiger! He needs to kick some ass and get back to #1!
    Party on Turdites!

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  7. Just another anecdotal comment about the increasing demand for physical Silver. I've posted here a few times about buying 90% Silver coins from private individuals.

    This seller who I bought some Silver Dollars from said he had 125 Mercury Dimes; I think someone provided a formula here that worked out to around $2.75 each.

    Well, yesterday he said he threw out a price of $3.00 each on Craigslist, and somebody bought every single dime he had. So this will give you some idea of the demand that is out there.

    From having followed the ads for 90% Silver for around two years - it looks like things are becoming 'frothy' and appear to be turning into a feeding frenzy. This doesn't mean that we are at the peak yet - just that more and more people are getting excited about Silver and are jumping on the bandwagon.

    -Mammoth

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  8. Turd: great post, thanks for letting me play

    and thanks again Forty!!

    yesterday, I was so excited by silver's action that I stripped down, butt nekkid and took a dip in the neighbors pool

    Boy, howdy, did my hub get pissed!

    The neighbor, on the other hand, invited me back one day next week to take another.

    Ya think his wife is out of town?

    On a serious note, I really do love this place. In fact I have all but abandoned my other on line community. Appreciate everyone here!

    word verify: cater! should we cater the double dip?

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  9. Well, I'm claiming "Thread Ending Post" on the last one. Mine was right in front of Turds, with the same time stamp! That's pretty awesome. Apologies to those who came in 3 to 6 minutes after!! LOL

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  10. Guys, how about focusing on having the first *productive* comment instead of simply the first comment. There is no Turd badge of honor for a "first" post.

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  11. Apples... I tried. I'm guessing that mentally I'm 4 years old while the other guys are only 3... and a half!

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  12. @SaveAmerica1st-
    About the Masters Tournament and Tiger Woods, I saw a video of Tiger playing yesterday. He played quite well, but I can not locate ANY photos on google or ANY video on the web of him.

    Yesterday, when the local TV station played the video of Woods, there was a close up of Tiger's cap. I noted a very distinctive "V" in black along the left side of the cap. The "V" was so large and matched the campaign that Alex Jones was doing with "V" at Infowars.

    I began wondering if Tiger was sending a message to golfing fans around the world about something. I wonder if Tiger is a reader of this board.

    I can't figure out what cap that is and if it really has a "V" on the left side. Or, did Woods put that "V" on the cap on purpose and as a sign of solidarity for the campaign launched by Jones.

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  13. Eric,
    Saw your oil/gas trust names from the last thread.. wrote it down.. Thanks!

    Thank you Turd. For everything. Have a great time in Chicago. ...And we don't see too much of Mister Hyde around here. He used to post a small amount. IS HE OK??? .......I know he was dropped on his head as a baby. :D (lol.... that is always how I will think of him now hehee)

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  14. Friends,
    I long for one day of reading where I am not bombarded with doom and gloom.
    I do not have the fiat to build a spread like King Sinclair.
    I do not want to start a commune with my neighbors nor disappear into the wilderness.
    I guess I will be forced to either flee to the islands or become a Somalian war lord.
    Please let me enjoy one day (without having to unplug from the grid) without the buzz kill that the wheel is turning and I am soon to become the geriatric Mad Max drinking pond water and eating canned bacon.
    Love the blog love and the Turd. Please take no offense.

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  15. Woods is DEFINITELY wearing a "V" on the left side of the cap.
    This is a Youtube video from Fox Sports in review of the game.
    www.youtube.com/watch?v=eOeEHmWS7UA

    Go to 1:30 where several still shots are of Woods playing yesterday.

    There is a photo of him taking his cap off and it is shot from the left. The cap DEFINITELY has the "V".

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  16. This comment has been removed by the author.

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  17. AUMN seems like a good jr to keep an eye on. I've got no position yet, but am watching and waiting for the right time to jump in.

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  18. @atlee -
    The "doom, gloom and boom" reports are being done for specific intent.

    I've reviewed the "brainwashing" and "propaganda" techniques used over the last 60 years on populations and individuals (slightly differing techniques between the population based tactics and the individual tactics).

    The media techniques today are reflective of those established propaganda ploys.

    That is what makes the discussion on this blog so valuable and so excellent.

    We are establishing our own framework to evaluate the propaganda.

    You are not alone in your feelings. I am glad that you are acknowledging those feelings and expressing them. They are shared and your posting is valuable.

    Have a great weekend and enjoy "V" masters.

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  19. lol atlee.

    Well.. we could always post about the positives of an economic crash. I only *partly* kid about that because I am a firm believer that once all of the poison is cleansed from the system and the fraudsters and criminial gov't and banking officials are out of positions of power (one way or another) that a system wide reset *CAN* actually be a good thing. No.. we would not choose to have things reset this way. There will be much pain (oops..sorry) ..BUT...a society who's members start to regain control of their lives, their finances, their families and truly start to attach value to the things in life that really matter and not what we've come to value... well, that will be a society where we can live, grow & thrive as human beings.

    All I'm saying is that we've come to a point and place where many times our values are upside down. A realization (even a forced one) of the simple concepts that matter and a melting away of all the noise we have come to live with....won't necessarily be a bad thing for our society. I just wish we could get there with much less hardship than it will take to straighten out the system. ....(ooops.. I think I will stop now and not go there :) ....just know everything about it won't be bad. There will be much good that will rise out of the ashes.

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  20. @SaveAmerica1st -
    About the Chinese and enemies of America buying our silver and gold...

    You need to review the interviews that Eric King has been posting on his blog for the past six months. (Sorry if you already had).

    My interpretation of the comments of guys like Sprott, Turk, et al are that the Asian governments and central banks do NOT want a full meltdown in the USD. Instead, they would want to sell those US Treasury notes/bills/bonds at high value.

    However, by the US Federal Reserve pushing down the US dollar value, the US FRB is essentially sticking those foreign holders of US debt with devalued paper. The implications are big under normal circumstances. But, with the giant 9.1 quake in Japan, there is no choice but for Japan to start printing more Yen and selling their UST's.

    This basically means that the UST's will have few buyers EVEN WITH a 2011 budget. In fact, my opinion is that it would have been better for the US federal government to shut down in mass today. If they had, they would stop spending in mass. But, instead, the Congress and WH chose to "accord" and keep spending. That's a giant problem when international analysts are claiming that the FRB is holding 75% of the USTs being sold. If that's true, both the US federal government and the FRB are broke.

    And, in essence, isn't that correct? They chose to back JPM, C, WF, BoA and 80 trillion of derivatives lies. In backing them, the US government and the FRB are now inheriting bad debt AND no way to collect.

    So, yes, they're both broke technically, unless they lay down the hammer on citizens and force us to slave wages and steal the rest of the equity out of us. NOBODY is talking about this, but it's the reality of what's occurring. Layer in the state taxes and local, and you've got a real debacle.

    So, our PM's are the ticket out internationally.

    If the Chinese and "enemies of America" start buying PM's hard, those governments are our allies and against TPTB that are bankrupting our lives here in the USA.

    We need those MENA and Chinese buyers running in on the Gold and Silver and buying inventory from Perth, Vancouver, and all. As those international buyers decouple the physical from London/NYC paper price, we who are long pm's are strengthened financially by it.

    Since Obama has now coupled the fed government to JPM and their financial instability, Obama has essentially spread the debt disease to the US government.

    Until they decouple the two, the federal UST's are going to slide in value for a long time.

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  21. Mammoth, and all...

    www.coinflation.com will tell you the value of coins real time and has a calculator. It will give you the value in a 90% dime along w/ the small amount of copper value in it.
    Right now it shows Mercury and Rooselvelt dimes valued at 2.9608, so 3 bucks a dime is about right. Whoever got all those dimes will surely be profitting in the times to come.

    Side question to all: I was too young during the silver/gold boom years back. Is it odd now that people are even selling PM's for as cheap as they are given the econoical conditions that have been driving the value up? Since I only started buying silver this year (from Gainesville Coins which is only 7 miles up the road from me) the premium on ASE's was like a little over 2 bucks. Now it's been up to 4.25 a couple days ago, and now today shows 3.80 (which is very odd to me that it has gone down).
    But with the shortages going on, and the demand so high, along with the dollar crashing, I'm surprised we're still able to get anything as cheaply as we can right now.
    Maybe it's because probably less than 1% of the American people are even investing in PM's right now.
    But how aren't the Chinese and all other enemies of America not coming here and totally buying up everything in site??? They could easily be using the interest payments we're sending back to them to buy up every ounce in the world.
    Or could there be some international central banking socialist agreements that they won't buy everything at once in order to keep some form of stability and keep the wool pulled over the sheeple's eyes just a couple years longer while laying the dollar to rest?
    Just seems odd to me..but I'll keep stocking up on PM's and everything else, trading my Bernakie Clown Credits in for real money as long as I can!
    You all will too I'm sure!
    It's Masters weekend!

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  22. We could start a "Positive aspects of an economic crash" thread. I get firsties-

    #1. You're gonna learn to *love* that canned bacon.

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  23. In doing a bit more investigating on the Tiger Woods headgear, it appears that the "V" is emblazoned on his caps on the left side. The "V" is seen on his web store on the side of the caps. So, the "V" is intentional and it is there for a reason. I'm assuming that the "V" is a sign for "victory" and is coincidental with the Alex Jones campaign, but the "V" is very similar.

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  24. Thx SaveAmerica, been keeping an eye on www.coinflation.com but hadn't checked it for a few days...wow so 30x Face Value is the going rate for 90%! ANd next weekend the going rate will be ???

    You asked, "Is it odd now that people are even selling PM's for as cheap as they are, given the econoical conditions that have been driving the value up?"

    Ha ha! I remember back in late 2008 there was a news article about people selling Gold, and the reporter interviewed a young woman selling the $20.00 St. Gaudins her grandmother had given her for $800 at a coin shop. She was quoted as saying, "I need the money for rent."

    Now she would've gotten ~1,600 for that coin. Ha ha!

    This helps put today's seemingly high coin prices into perspective, doesn't it?

    -Mammoth

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  25. As usual, I get to spend Masters weekend at the office checking tax returns! Yippee.

    Seriously though, If you actually read Turd's post, he specifically asked for comments about favorite gold miner stocks.

    I tipped Allied Nevada to Irene a couple nights ago. I'll do a couple more when I get home tonight. The rationale behind ANV is all in this recent news release. And check out the silver component of the Milling Project. Yikes!

    http://www.alliednevada.com/investors/news/pdf/3312011-1.pdf

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  26. Hey everyone. The Naked Silver Saturday post is up on my blog. Enjoy!

    Yukon

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  27. mammoth

    When we calculated 2.75 for those dimes, we were talking silver in the 38's. 41 is a different ballgame.

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  28. Jedi...

    awesome comment...that was an angle I totally hadn't contemplated!

    "So, our PM's are the ticket out internationally.

    If the Chinese and "enemies of America" start buying PM's hard, those governments are our allies and against TPTB that are bankrupting our lives here in the USA.

    We need those MENA and Chinese buyers running in on the Gold and Silver and buying inventory from Perth, Vancouver, and all. As those international buyers decouple the physical from London/NYC paper price, we who are long pm's are strengthened financially by it"

    It's crazy that we now live in bizarro world where you have to think so abstractly against what you would think is logical. It's unfortunate and sad too actually. And I think that's why so many Americans totally don't get what is really happening to our nation.

    Because of your comment it brings me back to when I not long ago came across the term "Normalcy Bias". That is what's gripping 99% of the sheeple in this wolrd, not just America...and if they don't snap out of it we will never get out of this.

    Normalcy Bias (a definition I found, not my own word, just FYI): The normalcy bias refers to a mental state people enter when facing a disaster. It causes people to underestimate both the possibility of a disaster occurring and its possible effects. This often results in situations where people fail to adequately prepare for a disaster, and on a larger scale, the failure of the government to include the populace in its disaster preparations. The assumption that is made in the case of the normalcy bias is that since a disaster never has occurred that it never will occur. It also results in the inability of people to cope with a disaster once it occurs. People with a normalcy bias have difficulties reacting to something they have not experienced before. People also tend to interpret warnings in the most optimistic way possible, seizing on any ambiguities to infer a less serious situation.

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  29. On the other end of the spectrum for me, a nonproducer, I'll chime in that I hold Kaminak Gold. The market cap is getting up there, but those guys just can't miss on the drill holes. Like shooting fish in a barrel.

    Although, I've never shot fish in a barrel. It might not be as easy as it sounds....

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  30. Save_Am & Jedi

    "So, our PM's are the ticket out internationally."

    Not sure if this is what you meant, but I do tend to think of my physical PM's as my "offshore account".

    Word Ver: pricer

    yeah, Pm's are gettin' pricer and pricer

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  31. Da Wife is starting to put some serious pressure on me to put most of the PM's in a bank safe deposit box. She says I can keep one "play box", with some Sovereigns and a few sterling spoons, etc.

    Oh, Turdites! What to do? What to do?

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  32. Turd! What brings you to our fine city this weekend?

    Hang in there, supposed to be in the 80s tomorrow.

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  33. Eric#1: you could always take your clothes off and leap into your neighbor's pool

    You won't have any problems from her after that.

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  34. They don't have to confiscate silver. They just have to declare it a strategic metal.

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  35. Holy balls... You want to watch something? Watch this. Gerald Celente flat out GOES OFF. I love that guy.

    http://www.youtube.com/watch?v=UqM7wq0W_kw&feature=player_embedded

    Yukon

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  36. jake

    She would just say "oh crap, there he goes again" lol

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  37. Yuk

    no time to check that particular vid, but yes I love that guy too. Except when he starts in on cold fusion or whatever, then I lose interest. But otherwise, he nails it every time.

    His KWN piece from 3/26 I thought was especially Mahhhhvelous.

    http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/3/26_Gerald_Celente.html

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  38. @Eric-
    I consider that any citizen of the US holding gold or silver physically in the US to be a LOYAL citizen of the US.

    Those who are holding precious metals in the USA are in fact strengthening our nation and helping to add value to the nation.

    Those who sell their gold internationally (JPM, C, BoA, WF derivates desks!!!) are traitors to the nation and are trading our national assets for foreign paper. THOSE are the people who are liquidating our national productivity for PERSONAL gain.

    More over, I do not see Mr. Rothschild and his allied forces to be my ally either. My view is that those international financial forces are the "globalists" and the "elite" and the "oligarchs" who are driving the NWO agenda which seeks to enslave us. Their families traded in human lives many times and under many guises in the last 200 years.

    PM's being held quietly and securely in US borders is the long-term hold that can generate future trade.

    However, as Jim Sinclair so clearly has been posting, over reliance on gold and silver for future trading is useless without individual productivity. If you simply do the Johnny Appleseed technique and go planting dozens of fruit trees, you will do far better over the long haul. Of course, this depends upon the stability of the environment and your ability to control exposure to toxins, poisons, and environmental threat.

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  39. For Vlad, I looked at Goldmoney over Bullionvault as I prefered paying the premium on the way in not on the way out.

    Interesting point though that concerns me at the moment is, the Gold/Silver is priced in $ within Goldmoney and converted to your currency when removed, so when the $ goes bad, so could your asset? maybe someone could enlighten me.

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  40. Eric1 -
    About the issue of safe deposit box...let me share some stuff in this region...

    A friend had JPM Chase move his safety deposit box WITHOUT asking permission to MOVE the box from one bank branch to another.

    Another person observed a credit union close a branch and move the safety deposit boxes unilaterally to another location.

    I have heard that banks must turn over the box and all contents to local cops if the county sheriff shows up with a local judge permitting the seizure by local government. This happens by filing a case against another party and winning that case then demanding judgment against that party and then the judge gives the order to seize the box. If you were unlucky enough to have put that gold and silver in that bank box, you will lose everything in the box.

    If you are buying the PM's in cash, the government can not track the PM's unless the IRS form is filed for purchases greater than a certain price.

    You have to know the guy you buy the PMs from in order to know if he needs to report your transaction to the government.

    In this area, there is no reporting for these transactions when the transaction is of a certain size and amount in FRNs.

    Therefore, any coinage you hold securely in your direct pocket, you hold in total privacy and with total knowledge that you have no need to declare it.

    Lastly, I spoke to a CPA about the capital gains issue. That capital gain is not experienced until you report the sale to IRS. If the coinage is not sold but exchanged for some good or service, then that is a barter. Tax reporting on bartering is unclear to me (at this point I have not engaged in barter), but it appears that the Nothaus prosecution is really an attempt to stop barter and investment in gold and silver in the USA.

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  41. Strong Side:

    It will all come back to local.

    Local people providing their needs locally with a strong network.

    How could this possibly be a bad thing? It'll be like it used to be? It'll be better and safer for families. It'll be where you can leave your door unlocked because everybody knows each other and trusts each other.

    And when the marauding horde approaches, it will be neighbors helping neighbors as we bloody the interlopers.

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  42. David

    Gold is Gold. Silver is Silver. Wheat is Wheat. Oil is Oil. It doesn't care what currency (read: unit of account) you want to price it in. Think Ounces, Bushels, Barrels. Not converting to some bullshit piece of paper. Dollars, Euros, Yen, Pounds, Aussies, Loonies. They are all heading for the "dustbin of history". Worrying about the dollar index is ridiculous. F*ing Ridiculous!! They are all heading for a fraction of their former selves and they go in fits and starts in a race to the bottom. Dollar has been the pacesetter lately, but it's about time for the Piece of Garbage Euro to make a big run.

    OK, now you guys got me all worked up. I don't usually go off like that. Better go back to work now. I need a little "normalcy bias" right about now.

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  43. The "V" on Tiger Woods hat is for Victory Red, a line of Nike golf clubs that were made for him and which he also had input on during their design back in 2009. No conspiracy here guys, I'm sure Tiger has better things to do than to get sucked into fear mongering campaigns by Alex Jones.

    Victory Red

    Who can really believe anything Jones says when he freaked people out back in 2000 and claimed, live on air, that the entire world was collapsing, missiles were being fired form Russia and ATM's were exploding all over the world?

    Fear Mongering for Money

    That guy is a joke and doesn't even believe 90% of the stuff he puts out. He's a business man and is making millions off of naivety of others. His money bombs are shams and he never does with the money what he says he will. Stopped listing to him a long time ago after doing some research on him and his sham.

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  44. Hey Everyone,

    Last night at a party I was explaining silver and Turd's site to a few friends, and inflation, QE and high commodity prices quickly came up. A nice guy chimed in about "couponing", which I have never done, and he suggested a website to me:

    http://www.southernsavers.com/learn/

    Since I try to read every comment every day and don't recall couponing ever being mentioned here, I thought I'd share it for those out there who haven't heard of it either and don't utilize coupons at their grocery store.

    To me, this now makes a world of sense - a true no-brainer. It's like BTFD for groceries. That website explainings the cyclical nature of store inventory, and how to combine, or "stack" coupons during sales to get the most for the least.

    It was as clear as a bell to me that if I shared it here, at least a few folks would learn a little something from it as we're all obviously preparing for an uncertain future.

    Last, as an aside, I bought an old Doug Casey book on Amazon for .10 titled Strategic Investing, and it has a section in it about the incredible future wealth advantage stockpiling can give you by buying tomorrow's necesseties at today's price. It was well worth the dime

    I have to leave and so won't be able to be involved on the board until tmrw night, but I hope a few of you find this useful

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  45. Jedi

    I know, I know, that's why I don't want to do it.

    http://www.youtube.com/watch?v=koY6kXhQDQo

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  46. Turd is a trooper, jet-setting across the country and still finds time to give us a thread on a Saturday from the Windy City!

    I used to love Fridays and looking forward to the weekend. For the past few months I find myself bored over the weekends and looking forward to Sunday nights and the regular work week when the markets are open.

    It feels kind of sad and pathetic. I should get a cat or two and start watching romantic comedies in the dark while downing buckets of Moose Track ice cream. I've become the lonely, desperate single woman who has given up on the world and gone into isolation ha ha...no offense to the lonely, desperate single women who have given up on the world and are in isolation.

    I need to go do something manly today.

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  47. @David- Here's my thinking on that.
    I'm no expert on either BullionVault or GoldMoney (as I am not in either) but seriously considered participating.

    You and I share the same view on premium. I prefer to pay premium at time of PM acquisition. However, the premium at time of sales is really hard to show. The "premium" at time of sale helps the seller and not the buyer. That premium appears to be determined locally and based upon local amounts of gold and silver in the community.

    For this reason, people like Gainesville coin are helping to stabilize the local economy in Gainesville. By the same token, the local coin guy by me is doing the same. I want him to push as much of his gold and silver coinage into the community as possible. By him pushing more 1 oz silver and gold into our community, we as a community separate ourselves from the antagonism of the big banks.

    Anyway, getting to the point about going in on Federal Reserve Notes, if the FRN$ continues to collapse...

    You would see those other currencies have stronger buy power while our ability to use those FRNs to buy commodities will decline. There was a thread about a week ago in this blog that was talking about the gold chart in Canadian dollars and Aussie dollars looking different than ours.

    My view is that BullionVault is a good way to go for a US SHTF scenario where you need to leave the US and move to NZ or AUS or another more stable economy. You can buy into the vault and then rotate out of the vault when in Perth or Christchurch. The kick on this is that if there is international fiat collapse, then the buy power of the PM position should strengthen internationally as well.

    It's the BRIC nations that are driving this now, not US or UK/Commonwealth drivers. The US and UK is bankrupt. So, the elite in those nations are not comparable to the productivity in BRIC and AUS miners.

    The way I see this is that the PM position is backing the foundation of the family's finances.

    The elite and the sheep are two different camps.

    The sheep are watching ABC and trading worthless paper for worthless foods and bottled city water.

    The elite are building their own production, trading worthless paper for bullion reserve, and pumping their own water because they own the well.

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  48. Justin

    Aaaaarrrrggghhhhh!

    Go start up a chainsaw or something, just for grins.

    ReplyDelete
  49. thanks David, so what are the pros/cons of using a site to buy physical like Goldmoney or BullionVault versus actually buying the physical and storing yourself?

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  50. @Justin - thanks for that golf lesson!

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  51. Thank you both Eric and Jedi for enlightening me on that one. Much appreciated.

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  52. Still not seeing many gold miner picks.

    Turd and I, we give and we give, but where the hell are you guys??

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  53. David

    The only thing that stopped the Weimar hyperinflation was that they came out with some bonds that were denominated in bushels of rye, for cryin' out loud. Bushels, Bitchez!!

    Ok, now my old ZH days are coming out. Really really gotta go now....

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  54. If I see one more SOB spell it "Wiemer" I'm going to puke all over my keyboard.

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  55. Vlad, I use it for being able to buy at a small premium over spot and not having to worry about postage and storage which adds to overall premium and I can liquidate easily if I ever need to. Also can buy Gold, Silver, Platinum or Palladium and swap if I need to. Another great thing about goldmoney is if you have an account and I buy something from you I can pay directly with the PM if I want to. Just did that with a coin I bought from a guy (Goldmoney account holder) in US, saved $'s on exchange rates/paypal. Its all just convenience really and if anyone wants to try rob the international vault then let em, its insured as well.

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  56. @David -
    Thanks for the comments on Goldmoney.
    James Turk is often on King World News with very informative comments.

    The ability to transact electronically in a gold backed valuation is a great thing.

    I just wish we could do more of that in the USA. How sorry is it that the US citizens are intimidated by thugs into using a Federal Reserve Note while citizens of other nations transact in precious metal backed positions?

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  57. Question, slightly OT but I was hoping someone could refer me to some resources that refer to the point at which the USD MUST be replaced as the world reserve currency (before or after defaulting, some other marker?). I would also like to try and understand the implications of such an event or if it will even be relevant by then. Thanks.

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  58. Hi guys, just found the Turd on Friday afternoon and have been sniffin' around ever since.
    I'd like to solicit the bowl for some opinions on how to maximize my situation.

    I have a small (high threes) horde I've been sitting on for some time. My discretionary income is currently about 1k/mo. Currently planned to stock up on some short-term SHTF supplies, i.e. food and water. Where that puts me now is about $400 + another $50/week to start trying to build some value.

    What're my best opening options under these parameters?

    I don't know what to do with the 4hundy but I'm cosidering alternating weekly between $50 in gg via GoldMoney and 1oz. silver coins at a local coin shop (haven't scouted yet).

    I know Zecco doesn't have a minimum opening deposit and from what I've gleened here these look like possibilities:
    Silvers: GPL, possible short on ZSL
    Golds: RBY, KAM.V, AUY

    I'm just looking for a jumping off point to begin to apply my DD. I feel somewhat safe buying gg or sil. FFS, I spent $80 Thurs night on drinks and losing poker hands. Even if PMs declined I'd still be up on that 80 if I'd bought in instead of wasting it.

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  59. Gold Picks to look at and consider. This weekend I'm looking at plays in BC's "Golden Triangle". Understand I'm not endorsing any of these, just offering ideas. If I do add any of these to my favorites it will be on my blog.

    Nova Gold
    Teuton Gold
    Pretium Resources
    Seabridge Gold
    Skyline Gold

    And if you have enough gold there's always other plays like:

    Roca Mines
    Garibaldi Resources

    and more... My advice, go do some due diligence on some plays in the "Golden Triangle" paying particular attention to juniors, smalls, micros, and ventures.

    Off you go then.

    Yukon

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  60. By the way, it's above freezing today so I'm going to be working outside so no responses from me most of the day. If you want to talk shop just email me and I'll respond later.

    Yukon

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  61. the real silver bullion price is around - 9$ ... but somehow there is this unjustifiable - 31$ premium attached :)))))

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  62. JaketheSnake said..."And when the marauding horde approaches, it will be neighbors helping neighbors as we bloody the interlopers."
    --------------------
    That reminds me of the summers I spent in Russia, at the Dacha (country home & garden). In the group of dachas where I was at, there was a problem with people coming from the nearby town and stealing vegetables out of the gardens.

    So a group of us neighbors got together one or two nights every week and stayed up late at night. guarding the compound.

    Sure enough, we caught & beat the living sh!t out of a few thieves, but you know what? We NEVER caught the same person twice - there were no repeat offenders, unlike over here where the system coddles the criminals.

    If things keep going the way they are going, neighbors here in the US will need to learn to work together the same as they do in Russia.

    -Mammoth

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  63. By late 1923, the Weimar Republic of Germany was issuing two-trillion Mark banknotes and postage stamps with a face value of fifty billion Mark. The highest value banknote issued by the Weimar government's Reichsbank had a face value of 100 trillion Mark (100,000,000,000,000; 100 million million).[14][15] At the height of the inflation one U.S. dollar was worth 4 trillion German marks. One of the firms printing these notes submitted an invoice for the work to the Reichsbank for 32,776,899,763,734,490,417.05 (3.28×1019, or 33 quintillion) Marks....it ended with stabilization of the Rentensmark backed by mortgages and a basket of assets....ie...they restored confidence in the paper having "assets" backing it.

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  64. Tator

    1st, get comfortable on the home prep side.

    2nd, get comfortable on the physical metals in your own possession side.

    Then, and only then, get all wrapped up in the details about crappy miners and calls and stop losses, etc.

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  65. This comment has been removed by the author.

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  66. Jedi - anyone with a full Goldmoney holding account can pay another Goldmoney full holding account holder except in Germany, I believe. Check that out though.... Oh and the other thing I'm sure I read on here that made my mind up was indeed James Turk and not Rothschild as I think is part of Bullionvault.

    ReplyDelete
  67. Somehow in the editing process, that first one came out like gibberish.

    2nd try:

    Tator

    I know it sounds like old news, but one could do a lot worse than go back to November and just scroll through every post and every commment. Probably worth ten times anything else you'll find on the web, plus you'll be all up to speed on all the great advice that's been given out and all the personalities that have been involved over these months. It's been a magical time.

    Any question you have on your mind, I guarantee you has already been asked, and been answered.

    ReplyDelete
  68. Thanks Eric, exactly what I was looking for. Talk to you all when I'm all caught up :)

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  69. Justin asked about Copper.

    I own Minera Andes, it's my biggest single position. The story is compelling.

    Their pending spin out of the copper holdings makes it compelling. A producing, profitable gold/silver operation and potentially one of the largest ever copper discoveries.

    How's that?

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  70. Eric #1

    I can't give good gold stocks tips, but I can tell people about my not-so-great experience GLTR. I thought a basket of pms would be a good thing so I bought this vehicle last November at around $85. Well, it turned out to be a dud of a pm basket as today it's sitting around $100. Yes, it finally caught some upswing, but, considering the various other alternatives at the time, there were much better ways to deploy my scarce resources.

    Sorry, that's all I can recommend because the only other stocks I have are silver miners which are all too well known here like EXK.

    Speaking of golf! My 16-year old nephew is down in Florida this week for golf camp. He was out on the course with his golf teacher...and hit a hole-in-one. My sister is very, very proud!

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  71. I know Ginger has her notebook, etc, and I think others have kept some thoughts one way or another.

    For me, as soon as I get through tax day I plan to go back and scour every post and every comment from the beginning and put together a scapbook. I'm talking an old school three ring binder and Elmers Glue sort of scrapbook. Of all the great stuff that's been here. That way I can keep all the really truly great stuff, and toss all the pissing matches and political rants. You know who you are! Edit, Edit, Edit. You are so gone!

    I'll keep what I want, and piss on the rest.

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  72. Irene,

    When I first started getting back into miners on this blog (after about a 10 year layoff) I stated that 10-15 names was maybe about right. Not too few, not too many.

    Now here I am and I see lots of folks who have maybe 3 or 4 names. Too Few!! And I look in the mirror and see 20-25 names. Too Many!!

    But I can't bring myself to trim the list down any more than that!! Help me...........!!!!!!

    ReplyDelete
  73. Irene,

    GLTR

    You went 85 to 100. That's like 18%. Don't apologize for that. I just did a quick chart of GLTR vs CEF. CEF is a really great benchmark for gold and silver bullion combined. You've got nothing to apologize for there.

    Just because it didn't go up EightyBaJillionPercent doesn't mean it was a bad idea. It did everything it was supposed to do. If you are disappointed in it, then you had unrealistic and misguided expectations.

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  74. My 2 cents about moving money from silver miners to gold miners - seems to me that it's too early to consider that. Silver is climbing at a much faster rate than gold, so the silver miners should be pulled up at a faster rate than the gold miners.

    So I have been concentrating on silver miners, and plan to do so for another while ... for that reason, I have sort of neglected looking at gold mining stock.

    That said, I do own one gold company - Sandstorm Gold, which is a royalty company that seems to move upward at a steady rate.

    ReplyDelete
  75. Eric

    I have a million little pieces of paper on my desk in a pile with all the tips for pms AS WELL AS emails to myself that I can sort according to subject matter. The first word in all of them is "gold" (what else?). So, when I want to see gold and silver stock tips, there they are - the entire posts with who, what and when. I have now started emails with the subject matter for rare earths as well as natural gas. Gotta prepare for the future....

    I think you top everybody for best tipster here in Turdsworld. If you and your lovely wife are ever in NYC, you have free drinks on me and my husband!

    As for GLTR, unfortunately I sold in February when the stock was $2 more than when I bought. But I'm not complaining because I bought some more EXK and we all know how well that turned out!

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  76. Irene

    Aww, you make me blush!

    I'm just doing my best to contribute something of value just like anybody else.

    I told the Turd in an email awhile back, a big part of it is that I've had all this stuff bottled up inside for a long time now, with nobody in friends or family to talk about it with. I think a lot of us can relate to that.

    Anyway, when Turd Town came along, it all just came pouring out, after being bottled up for so long. Like the ending in Frankenstein vs The Wolfman.

    I keep thinking that at some point I'll be out of things to say. Like, everything that I had in mind will have been posted and now I'm done.

    But I'm stil hanging in there so far!!

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  77. Eric

    You mean I'm not supposed to expect a quadrillion % increase every quarter? Who knew? ;)

    Seriously, I will be happy to just maintain purchase power parity. That's really my ultimate goal.

    I'm sitting here helping my sister move out of her house after a messy divorce where she basically lost everything while also going through all the suitcases of things we inherited after my mother-in-law died which my sister was storing for me. Helps keep everything in perspective. Everyone stopping today by mentions how lucky our family is because we all help each other out and stick together through thick and thin.

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  78. One thought that I see rarely discussed here. WSHF there will be an informational blackout for some period of time and it is during this period that I expect the politicos to be forced BPTB to index all mortgage rates to the rate of inflation. Banks do not do well when they have 3% coming in and 100000000% going out.... So if your mortgage is not paid off in advance of the end game, better have a place to go or be living in a large Obamaville. These will not be nice places to have or store anything of wealth.

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  79. Irene...I also have many pieces of paper near my computer with all kinds of figures and miner websites etc.,how funny, but were not alone in that endeavor I'm sure.
    I cull them out every couple weeks .

    MarketWatch has a nice portfolio section where I keep track of most of the miners that I want to keep an eye on. It's very helpful and I encourage people to look into it. I refer to it all day long to keep a pulse on things.

    Anyone know any comprehensive websites that show a lot of miners that have the daily run down on daily miner market activities?

    I check out miningnerds.com everyday and it's nice but I feel like I'm missing some other sites that might be even better.
    I go to 24HGold.com sometimes but I don't have a subscription yet as the subscribe part of it is in French and I'm leery of filling in info. that I don't know for sure what it is.
    Sounds silly maybe, but I had some trouble last weekend where someone swiped my debit card info ($900!) from who knows where or how.
    Friggin. ingenious scumbags!!!
    Luckily my bank reimbursed me already as I realized it almost right away. Lucky me.

    Any website info would be appreciated.

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  80. @Texas Gardner

    I agree 100% about banksters getting the government to index interest rates...probably tied to a new inflation index of their choosing. Your salary, however, will NOT be indexed to anything.

    I would NOT try and game the system by maxing out credit cards expecting to pay them back with hyperinflated money.

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  81. First post, I am a closet Turdite,
    could not help but give a few gold miner suggestions: I think Eldorado (EGO) is ready to pop, has been a laggard over the last 6-9 months. I like East Asia(EAS.V) as an explorer, has not moved recently but should do real well, Colossos (CSI.V) another explorer that has not yet moved, if patient should do well. Would also look at Detour and Agnico Eagle as stable up and coming mid tier, that seem like they have a lot of upward potential. BTW has anyone seen the Newmont news, they will be increasing dividend 20 cents/share for every increase in gld price of 100 USD. This may become a monster dividend payer. 1 more to look at Minefinders is looking like they have worked out some of the growing pains and is now on the move, I think this one with their gold/silver mine should move with the gold price.

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  82. Turd you wanted our thoughts on the mining shares.

    Here are my holdings

    Abington Resources
    Agnico Eagle Mines
    Caza Gold Corp
    Endomines
    Goldcorp In
    Hellix Ventures Inc
    Lexam VG Gold Inc
    Minefinders Corp Ltd
    Minera Andes Inc
    Newmont Mining Corp
    Pan American Silve..
    Pretium Resources
    Silver Wheaton Corp
    Soho Resources Corp

    Now most of them I bought by recommendation by Bob Chapman
    Soho I only bought because I wanted a wild card and it was crazy cheap..9 cents when I bought it.
    Minera andes, Us gold & Lexam i bought because they have Rob McEwen.
    Endomines is so a small position it hardly matters.
    A few others just to diversify.
    The 2 best so far is Bobs recommendations Minefinders 44+ % and Pretium 50+%.

    Overall my position in just a few months time has appreciated around 18%. The only stock I am down on, is Agnico if you can believe that.

    I´m sure there are other very good stocks, but I am very happy with the ones I have.

    Ofc, most my holdings are physical metal.
    Mostly silver and some gold.
    I did cut my gold holdings in half this year to put into mining shares. So far a good choice.

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  83. PurpleHaze

    Silly as it may sound, kitco has a pretty nice little feature where they have a section entitled "Top 5 Performing Gold Equities" . You click on the line where it says "more gold and precious metal mining stocks" and you get a big list with the change for the day. Click on the "Change %" line and it will sort them for you and give you a good picture of the range for the day. Yours may not be on there, but it will give you an idea for the range.

    I thought everybody knew about that stuff, but if not, there it is.

    http://www.kitco.com/

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  84. DarkPurple

    This is another one that has been kicked around here in Turd Town. Lots of good names and data to be had.

    http://www.goldminerpulse.com/

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  85. DarkPurple

    the kitco silver page has a similar feature for silver stocks. But it won't sort for me.

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  86. atlee

    Hey, buddy! Life IS good. I was driving home from work today. The sun was coming out here in the Great White North, I had the windows open, and I was singing at the top of my lungs at the following two tunes that came on the radio.

    It doesn't have to be all armageddon all the time!!

    http://www.youtube.com/watch?v=_LBmUwi6mEo

    http://www.youtube.com/watch?v=H997IZkkO4Y

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  87. These 3000 silver dimes (before 1964) that I have
    might be useful someday?

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  88. Again, silly as it may sound, I use AOL portfolios for my everyday tracking of stuff. I actually trade in my ROTH IRA accounts at TDAmeritrade, but keep track of things at aol portfolios. Then I keep a separate portfolio for all miners, called 'Miner's Only", and I keep a separate one for my oilsands, called, "OIlsOnly". This way I can easily see if the stocks as a group are performing well according to whatever benchmark I choose.

    Plus, in my regular portfolios of course I put my actual cost basis, but in the Miner's Only I set them all to the same date and cost on that date, so that I have an apples to apples comparison of performance to see who's pulling their weight and who isn't. I had most of my allocation to miners done by the middle of February, so I have everything on the list set to the cost basis of whatever it was on 2/14. Plus some benchmarks, like one share of GDXJ, CEF, or whatever.

    Thinking this weekend I'll reset the whole bunch to say cost basis of whatever it is right now and start over. Feels like a whole new world right now.

    Thanks for putting up with my rambling. Gotta go run the dogs now......

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  89. James

    two silver dimes, on average, have always bought about one gallon of gas. So there you go.

    Word Ver: weekas

    Well, that was a weekas post!

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  90. @torx1953

    I agree completely on the not maxing credit card debt. On the contrary, now is the time to be extremely lean and to pay off all debt, especially your home. Do not be naive enough to think that the paper you signed at the title company protects you from being kicked out of your home. We should be looking at the whole picture and not just PM's. PM's should be a part of your current strategy but you should also be making plans for paying off your mortgage in the near future or have an exit strategy for retaining your equity.

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  91. The wife and I just found undervalued silver coins at the nearby antique mall. Just as we were leaving, we spotted a candle holder priced at $80, marked Sterling. It was not "weighted," meaning the silver was formed around a lightweight base. Got it home and it weighed 18.4 oz. yahoo!

    Not only did we get richer today, we had a nice time together moseying around the mall. Get out there and scour the antique stores. We have found our best silver deals there.

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  92. If TPTB want people's home equity they can take the angle they did in The Great Depression and do it through property taxes, even if your house is paid off. That way they'll either get your house or PMs first and then your house. If Banksters aren't made irrevelant they will find a way.

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  93. Thanks Eric I will check it out.

    I also go to resourcestockguide.com and latestgold.com.

    Latest gold has silver and uranium at the top of the header you can click on.


    My sleeper gold pick is Orofino Gold in Columbia.
    It's a long term thing to sit on IMHO and it's cheap at $.12

    Resource stock guide has a clickable world map.


    I use goldminers pulse but wish it had more miners. The daily, weekly etc. feature is nice to see how things are trending.

    Can't wait until Sunday at 6:00 to see how the market starts off.
    Crude will continue higher is my thought given the Egypt and Syria flareup and the escalation between Israel and Hamas.

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  94. My sleeper gold pick is Orofino Gold in Columbia. It's cheap at $.12 and it's a buy and hold thing IMHO.

    I also am a believer in Kaminak Gold.
    97% Au surface minerization...wow!

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  95. First time poster. Appreciate all the wisdom from this site.

    As far as miners, I like focusing on the stable geopolitical jurisdictions. I have taken the approach to buy, hold, and accumulate on the dips.

    Favorite junior include Kirkland Lake, Esperanza, Rubicon Minerals and Minefinders. Some exciting juniors with great resources are East Asia Minerals and Collusus Minerals. Both holdings of Sprott.
    http://www.theaureport.com/pub/co/597?cover=1

    Lots of discussion re: the resource in the F2 deposit at Rubicon Minerals, but my suspicion is that it will turn out to be >7 million oz. See interesting discussion in article below.
    http://seekingalpha.com/article/229349-rubicon-minerals-tipping-point

    For emerging mid-tier, I like Osisko, and Detour. Both of these guys are impending 1 million oz producers with excellent growth profiles. Osisko is a top holding in the Tocquaville Gold Fund (run by John Hathaway) and a company well-like by Sprott Fund.

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  96. I would suggest that the major miners offer some great value. Case in point.

    NEM has market cap of around 25 billion. Reserves of 93.5 million.
    Mined 5.4 million oz in 2010. At this valuation, NEM reserves are valued at roughly $300/oz. This valuation seems quite low in the context of other juniors being bought out at much greater valuations/oz.

    I have read the critique that the market is punishing NEM for not increasing reserves rapidly enough. We will see if its recent acquisition will change this market perception.

    "To increase production by just 5% would require Newmont dig up an extra 230,000 ounces of gold this year. To add just 5% to their Reserves would demand they find another 10 million ounces. That’s a lot of gold – and yet that’s the kind of growth needed to make the company’s stock really move."

    From my vantage point, NEM seems like a reasonable bet if you see gold price rising and based on valuation metrics. Just recently NEM acquired Fronteer Gold, raised their estimated reserves, and increased their dividend to be adjusted based on the gold price (0.20 per $100 dollar gold rise. So, I see NEM as a growth stock and a dividend payer, and likely it will a top performer in the S&P. Indeed, the stock is becoming more attractive. And, yet it trades at below 2007 levels and well off its 52 week high.

    I suspect there will be a fundamental revaluation (an explosion) of the majors coming soon (possibly when gold hits 1500) This is the thesis posited by John Hathaway, and John Embry, James Turk etc.

    Why have the major miners not performed like we would suspect?
    Maybe it is the hedge fund shorting, maybe it is disbelief/misunderstanding about why gold is rising, maybe it is gld siphoning off capital from the miners etc. This will all be changing soon.

    Best regards,

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  97. Hey Turd...I went to a wedding in Chicago once. Best damn wedding I have EVAH been too. Seems the groom and bride wrote these amazing letters to one another and the priest read them out loud. Everyone cried.

    They are still married too!!! AMAZING couple.

    Wish I bought silver way back then....

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  98. Turd,

    Eldorado usually breaks out around this time and has an amazing run from now until late june early august... with a final pop in sept....

    This stock should run to mid 20s IMO.....
    I dumped the remainder of my EDR on friday and will be buying ELD on monday..

    Cheers,

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  99. heres one. Wesdome Mines. WDO Toronto, trading at 2.70, run like a family company by The Pollitts, well known here in Canada. A sleeper.

    They are adding reserves at present, and wont get to the good stuff for about 6 months. but should start to rock in 2012.

    Ever hear of a two dollar gold stock that pays a dividend? No you havnt. Its unheard of. Well go to their site. It goes ex div for 2 cents on April 15. Thats annual not quarterly. They have a lot of ground in Ontario and Quebec, rising Cdn Dollar is an irksome negative.

    One of Embrys biggest holdings at Sprott.Fixing their reserve life negative, and issue shares like manhole covers, as in none, very closely held.

    Strangest company i ever saw, run like Fort Knoox was supposed to be, full disclosure , large holder.

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  100. If silver is silver, why do most of those who post here seem to be purchasing ASE over the cheaper premiums of Buffaloes or Sunshine Silver Eagles? Wouldn't you be able to get a bigger bang for your buck going with the latter? I was going to purchase ASEs when I first started but decided to go with Sunshine and later the Buffaloes to squeeze out a few more ozs. Is it just the appearance that you are spending more for or do you expect a higher return from them? Will that really matter if the SHTF? Wouldn't I get the same value using a Sunshine round or a Buffalo if we ever do need them for bartering or survival? I have purchased mine from both APMEX and Gainseville and both offer a buy back price at spot? I am worrying about nothing here? Just curious.

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  101. I wish I had some gold miners to list, I got out of all gold physical and paper when I found Ted Butler. He has a piece where he argues that silver is the rarest of all rare earth metals, great stuff. The only gold I have now is when it is part of a commemorative set issued with an eagle I need as part of a larger set. Main reasons i avoid gold:
    1) Silver will outperforming it now and will keep doing so for years to come
    2) bankers and tptb actually have a lot of gold in their inventories, so its easier to manipulate. at any given moment they could dump 1 billion ounces on the market and crash the price, only to buy it back at a lower price
    3) other than its use as a store of wealth, its practically useless
    I'm sure everyone here knows all that already, just throwing it out there.

    Eric#1, stuff it in your mattress! You might sleep better than handing it over to the bankster cartel, even if its a little lumpy. For me, I sorted my stash into my 'play box' which I take out to fondle when I want, and then I bought a few cases of beer, I took out a few beers and drank them, then filled up the empty space in the box with my silver, then I taped the box back up so it looked unopened, stacked the other two cases on top of it and then stacked all the other crap floating around my garage on top of the cases of beer. Lots of beer gets better with age just like wine. Sierra Nevada is one.

    Others here have mentioned hiding spaces like speaker cabinets. Another good spot that comes to mind is tuck it in with your emergency food supply, stop off at your local bulk food place and get enough granola/rice/beans/wheat/whatever to fill a 5 gallon bucket, then put some ag in the middle. Burying it in the backyard is the traditional fav, and is a real plus if the house burns, but not everyone has a back yard.

    I think whats best for you depends on your specific situation and what you are worried about. Is it burglars? fire? If it were me, I might just go along with what the 'ol lady wants so she will let you keep accumulating. Maybe you could even play along, put it ALL into the safe box and then tell her now you will start stocking the play box.

    @Mammoth as per an old farmers allegory that I can't recite in its entirety, you don't need to stay up late staking out the garden to beat down thieves, its much more effective to just put up a sign that says "some of these vegetables have been poisoned" it works because in theory only the farmer knows which ones have been poisoned and thieves wont take the risk, but in reality don't poison any of them.

    atlee mad max was eating dog food, with bacon you'll be living like a king! There is always a bright side!

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  102. Wallyworld,
    Some folks prefer ASEs because, among other reasons, in a chaotic scenario where you might be exchanging some silver coins or bars for services or goods ..the silver ASEs *might* be more recognizeable thereby making them easier to use in transactions. I think it is said that ASEs and Maples are the most widely recognized silver coins on the planet. That being said.. and ounce of silver is an ounce of silver and for me I don't think it will really matter what is imprinted on the coin. It's the metal itself that will matter and so long as you have pure silver you are good.

    I prefer the buffaloes because they are a highly recognizeable silver coin but you don't pay the high premium of Eagles. To each his own.. it's a personal preference but I'd rather have more silver than less. If you asked me which coin I think is prettier..I'd say the ASE hands down over the buffaloe ..but I'm not buying for beauty alone.. I need value most.

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  103. SilverBleve,
    I thought of stashing pm's with the food supply. I cannot figure out the best/safest place to hide this stuff. But.. it occurs to me that hungry starving people won't just be breaking in to take your pm's and valuables. They will also want your food! ...If someone walks out the door with a bucket of rice that's bad enough.. but a bucket of rice with silver coins in it would be a doubly heartbreaking situation!

    I also wouldn't stash in a bank safe deposit box ..nor all of it in a home safe. I think the best advice I've read is to put a nominal amount in an obvious safe or storage box. That might trick any would be thieves into thinking that's all you have. Hide the bulk of what you have in numerous places. ...It's figuring out what the best least obvious places are that has me stumped. I think burying it out of your house is probably safest. ..Sprinkle BB pellets all around where you bury for a looong way off the trail so that anyone with a metal detector couldn't possibly figure out where the bb's stop and your metals start.

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  104. Hey Wally!
    I totally agree with you, but I usually get yelled at by the Eagle Luvers in the crowd. I'm going to lay back and let you take the heat this time! haha

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  105. Wallyworld, if your exit strategy is to sell back to a dealer, there's nothing wrong with rounds at all. If you plan on selling to the general public, I think people will be more comfortable buying something recognizable like an ASE. As the price of silver goes up, I expect a lot of news to hit the MSM about fake silver. This might scare people that have never heard of Sunshine mint. Silver quarters are recognizable by everyone even if they've never seen an ASE and you can also get those at a very low premium.

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  106. Stashed in a case of beer?
    Speaker box?
    I don't know much... but these seem far INADEQUATE means of storage.
    As was mentioned, fire could be a major concern.
    My personal situation allows for storage in a building w/ no electricity, in a fire proof safe. The building is FULL of JUNK, a total mess not able to be walked through without making noise... which wakes my dog... which wakes me... and I reach for......
    As was said, different in all situations. Don't let your holding be the weak link...
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    ver. word, DISESS... some may have it...

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  107. Sigo, in talking with friends, whom I have tried to persuade to purchase physical silver with their worthless fiat paper money, they wouldn't know an ASE from a tin slug. When I tell them that the government mints pure silver 1 oz. coins, they looked at me like I was speaking Chinese(no offense). I think if times get desperate, as long as you have silver of any kind, you'll be fine and I'm sure most will be willing to relieve you of it whether it's an ASE or a Buffalo round. I'll just be carrying a magnet with me to prove they are not fakes.

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  108. Pick52

    Couponing! Yes! totally fits in with the "prepare accordingly" mantra.

    I especially like to find a sale on something in the sunday flier, then hit it with a coupon on double coupon day. You can get stuff practically for free.

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  109. Ric In Richmond

    Yeah, I went to a wedding in Chi-Town once too. Can't stomach even a whiff of Jack Daniels to this day!

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  110. Just went top to bottom on this post looking at miner picks. Lots of great stuff there. Enough to keep anybody busy researching for quite a while.

    I already mentioned Allied Nevada and Kaminak.

    Ones I saw mentioned that I currently own are Gammon Gold, U.S. Gold, and Kirkland Lake.

    Ones I saw mentioned that I have owned recently, and might again, are Caza Gold and Lexam VG Gold.

    Some silver miners snuck onto the page too. Of those, I own Great Panther, Minera Andes, Endeavour, Pan American, Silver Wheaton.

    Going to go take a sauna now, and then share a few more when I get back.

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  111. ginger

    You are looking for natgas picks. Here is my list from a couple years ago. Don't even know if all these are still around, but here goes:

    ECA, RRC, CXG, CHK, UPL, SWN, PXD, NFX, DVN, DNR, KWK, EOG, PBT, SBR, CRT, SJT, HGT, CRK, SM

    that aught to keep you busy for a while.

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  112. Ginger you don't need to bother with BB's, neither gold or silver can be picked up by a metal detector, they should also not be attracted to a magnet. If they were magnetic like iron/nickel/copper/etc it would be a lot easier for the miners that mine them, they would not need to 'pan' for gold or run wash over the sluce boxes.

    If you have something that is magnetic or shows up with metal detector, its probably a fake.

    For a stash spot for my guns, I've been thinking about kicking out a patch of drywall in my house, then putting all the guns and ammo in there between the studs locked and loaded, then patching the drywall back up and repainting the room. If tshtf, I just kick out the right part of the wall again and I'm ready to go. Am I thinking this through too much? Maybe. time for a cold one:)

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  113. These are my miners:

    Santa Fe Gold Corporation (SFEG)
    Hecla Mining Co (HL)
    Great Panther Silver (GPL)

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  114. Alexco Resources: AXU on the AMEX and AXR on the TSX is my favourite (not-so) junior

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  115. "shows up with metal detector, its probably a fake."
    Not to get side lined here, but
    how do u think I find Merc Dimes and Barber Quarters?
    Funny that my hobby collection of several hundred silver coins ( found w a detector) has been gaining value nicely!

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  116. Hello everyone,
    Just got in and pulled some E mail.
    Have not even read this thread (but I will), so sorry for just dropping in.
    Don't know how many of you receive Ed Steer, but almost always worth the time.
    Wondered much about shorts in both gold and silver. Taking in everything I can.
    TPTB keep adding to gold shorts.
    Listened to John Embry too on KWN.
    Many of you know this stuff already, but the tribe continues to expand here.
    Just a bit... Peace...

    As Ted Butler pointed out on the phone yesterday, the shorts are about to get another margin call on Monday after silver's big rise in price on Friday. This margin call money is advanced by the shorts and credited to the contract holders who hold the corresponding long positions. The short holders are billions of dollars under water...just in the silver market alone...and Ted is just waiting for some sign that the short holders are going to panic and cover...as I'm sure a lot of the smaller players must be screaming in financial pain as they drip financial blood from all their body orifices.

    Ted says that once the shorts start to cover, then we'll go from an orderly price rise...to a disorderly price rise...in a heartbeat. Disorderly means big moves of many dollars to the upside over very short periods of time...along with wild swings in price. So far it's been rather benign. Ted figures [and rightly so, I believe] that these sorts of trading days are about to come to an end.

    If that is truly the case, then once disorderly trading begins, it pretty much signals the beginning of Phase 3 of this bull market in precious metals...and this where the really big money is to be made. But I absolutely guarantee that the ride to the top will scare the hell out of most investors...your humble scribe included.

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  117. Wallyworld...I have both ASEs and rounds. I think the sheeple over the next 3 to 18 months will be getting a much better silver education. Folks will learn soon enough when POSX goes below 50.

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  118. @Gramp, is it because of the copper?
    @All at Tulving.com the spread (sell price vs/ buy price) on S.A.E. is $.80 same as the Golden States 1 oz rounds!

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  119. What about a decoy hot water heater? I've never looked at one to retrofit, but if you can create a door on the side, there's a lot of storage room I would think. You'll give up some closet or garage space but run it's hose or pipe thru the drywall and a pan underneath to complete the look.

    I don't think they would sell many metal detectors if they didn't detect silver or gold. That's crazy talk!

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  120. Had an interesting face to face chat with one of the Sprott guys today and he advised that anyone who is paying the 18% premium on their PSLV fund is basically not paying attention. Why pay that premium when you can get physical for a lot less. Unless, of course, you like paying $48 for silver.

    He also agreed that the miners have been severely lagging the physical price and are likely to get a good boost once the general public catches on. A lot of them are priced for about $25-$30 silver. If you can believe these guys.

    And, you guys have been throwing out some great picks with the mining stocks on this thread. Remember to DYODD.

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  121. @DARTH SMOKER... You r correct about there being 10% copper in pre '64 90% silver coin.
    But TRUST me Metal Detectors do just that... In fact, do to the high conductivity of PM they actually give a STRONGER signal than more ferrous metals such as iron. :)
    .
    @lj
    "Had an interesting face to face chat with one of the Sprott guys"
    "If you can believe these guys."
    That's what i like about Turdsville... much more honest info flying about!
    Any one purchase through SPROTT MONEY?

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  122. @Prize Fighter said...What about a decoy hot water heater?
    Great Idea! But what am I going to do with the real one? :)

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  123. Quite a great list of gold miners.. ..Eric.. wow.. that's aLOT of natgas plays! Thanks very much.. I'll see what I can find out.

    SilverBleve,
    Thank you very much. I knew that about the silver not being magnetic but I did NOT know that about the metal detectors! That is must-know information. ...Also loved your idea about the drywall. That is perhaps the single best idea I have heard so far as a place that no one would look. ..Makes me wonder how many houses in the future will be torn down to find great stashes of metals. lol. ...We also need to have a written record somewhere....a treasure map of sorts....in case something were to happen (like maybe old age/senility) that your heirs would know where to find whatever you have. ...Assuming we don't need to kick the walls in to retrieve the guns/gold before we die. :D

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  124. Eric,
    How many years have you been investing in these metals..gas/oil companies anyway?? ...You have alot of former investments. You must be a bazillionaire. :] .................Wish I had started all this years ago. "/

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  125. I don't think any page of gold miner picks would be complete without a mention of New Gold. NGD. Pierre Lassonde is a legend in the mining business, and he is on the board of directors. Pierre can probably tell you about it better than I can. Here's a KWN interview from 2/23/11. He starts talking gold shares in general around the 5:50 mark, and discusses NGD in particular around 10:25

    http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/2/23_Pierre_Lassonde_files/Pierre%20Lassonde%202%3A23%3A2011.mp3

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  126. Gramp: yeah Darth Smoker is right on, I was talking about pure (.99+) gold and silver, mercury and barber dimes will indeed show up under a metal detector. Sounds like you are finding some good stuff though!

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  127. wow I found this graph outlining the mourges derivatives compared to other countries, it is from a certain website that, well, dosen't keep images up for long so I don't know how long this link will be good for, but here goes:

    http://images.4chan.org/b/src/1302401267844.png

    thought some here might like it

    verification word: donation

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  128. Ok OK I know this is not a Metal detecting blog... but it seems to be useful info.
    To clarify, I have Top of the Line Metal Detector, well over $1000. It will SCREAM, I mean knock me over backwards when I pass an ASE within 2 feet of it. FACT.
    To elaborate, IF the PM were in a STEEL box, the detector would then be hitting on the steel box, and because of size would do so at greater than 2 feet, maybe just shy of 3 feet deep. BUT the Detectorist would have to b a seasoned operator.
    The Hot water heater Idea is good, but if its in your home, and there was a fire, how fast could you retrieve your PM? Would they be safe in that much heat?
    I know this is a FAR more BASIC topic than investing in Miners... but safe private holdings of PM is worth while discussion.

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  129. My other one I love to talk about is Bralorne Gold. This is my "little pet" miner. This is the one where I love to just go the website and look at the pictures, show them to the missus, imagine that I'm right there in camp, right alongside that creek, ahhhhh.

    (snapping out of it)

    They are in British Columbia, just 2-3 hours north of Vancouver. They've consolidated a land position that covers 4 million ounces of historic production. Like a lot of little "miners" they've been almost mining, almost mining, almost mining for a heckuva long time. Decades in fact. But as of just a few days ago they actually ARE mining! They are running rocks through the mill as we speak and should be able to produce around 11,000 ounces per year. Doesn't sound like much, until you realize that there's only 23 million shares outstanding. Very little float. Very little volume. Lots of insider ownership. If you buy a thousand shares and then check the volume at the end of the day, don't be surprised if the whole days volume is......1000 shares. Seriously. It's been treading water for a while after some recent financings. Now with that wearing off, and mining underway, I think it's ready to move.

    http://www.bralorne.com/s/NewsReleases.asp?ReportID=450059&_Type=News-Releases&_Title=BRALORNE-RECEIVES-AIR-EFFLUENT-PERMIT-TO-BEGIN-GOLD-PRODUCTION

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  130. This comment has been removed by the author.

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  131. I don't own this one yet ...just throwing it out there in case anyone wants to look at it as I am also doing some DD on it:

    Barkerville Gold Mine (BGMZF)

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  132. Eric

    That's a whole lotta love you're showing your little miner. Nice to see. Hope it gives you a whole lotta love back shortly. ;)

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  133. Ginger

    I did a lot with miners from around 1995 to 2001. Then mostly oil & gas from 2002 to 2010, Now some of each. Bazillionaire?? Sadly, no, but can't complain overall. Have had physical gold throughout the whole period.

    My early years in miners was more of a "learning experience" than anything. Check a long term gold chart. Gold was going nowhere in those days. Not a screaming bull market where everything goes up like we have now. In the absence of a bull market in gold, all these miners are money pits. Just remember that if we get a serious long term swoon in gold and you are tempted to think that a quality company will still be fine. It won't.

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  134. MAI (Toronto)/MNEAF (OTCBB); Gold & silver producer in Argentina, large copper deposit as bonus (disclosure: I own shares).

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  135. Holding physical gold imho is never a profitable enterprise, you might get more fiat when/if you sell, but really your just getting the same buying power back in less valuable frn's. right? Gold preserves buying power, silver increases it based on ag/au ratio, or is that wrong?

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  136. While everyone's PM storage strategy is different, I think at the core you need a two-stage approach... one stage for fire, and the other for theft.

    For example, putting your holdings in a fireproof container, and then putting the container in a secure location that a burglar would miss.


    On the subject of miners, my favorite holding is Minera Andes. First Majestic looks attractive but my account can't purchase it current as it is only offered on the TSX.

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  137. Gramp, fire is indeed a problem for any home hiding spot. There are some really fancy fire blankets out there. Perhaps one could be used to line the water heater? Thanks for the feedback. Brainstorming amongst this crowd is very helpful :)

    Last thought along these lines would be metal ductwork in a basement or attic. Would be easy to install while blending in with the rest.

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  138. re: hiding PM... "There's always money in the banana shack" *wink* *wink*

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  139. @Apples: First Majestic is listed on the AMEX as FR.

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  140. Apples

    First Majestic's U.S. ticker is AG. It trades on the NYSE. You should be able to buy it.

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  141. what about earthquakes and tsunamis? Where should I keep my silver stash?

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  142. Screw ASE or Buffalos, I'm investing in limited edition Optimus Prime rounds.

    http://www.gainesvillecoins.com/products/154891/2009Transformers%E2%84%A2OptimusPrimeCoinFromThePerthAustraliaMintProducedwithauthorityfromDreamworksParamountandHasbroLiveReadytoShip.aspx

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  143. SilverBleve

    I bought Gold 9/12/01 at $290

    Now it's at $1475

    I think there's a smidge of profit there.

    So I'd say you're wrong

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  144. RoCoach said...

    what about earthquakes and tsunamis? Where should I keep my silver stash?
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    my dog predicts earthquakes too! ;)
    .
    ver. word PESIODIN king of the seas right?

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  145. Does anyone have any thoughts on making the maximum gain, assuming that there is another squeeze again, during May?

    I was thinking, buying SLV May out of the money call options and SLW May out of the money call options. Clearly a very risky play, but I think this option would provide the maximum gain.

    Up to each person individually how much to put it.

    Anything else that the group can think of to get a maximum gain?

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  146. On my iPhone:
    Sandstorm ssl
    Yamana (oops) yri
    Wesdome wdo

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  147. Rolling up on 1am here on the US east coast. I was a buyer of gold back in 2004 when it was in the low 300's USD, sold to buy an engagements ring. It wasn't until 2006 that I bought back into gold and silver with what ever cash I had.

    I finally took some time time to really do some research into why I am invesitng in silver and gold. What I am seeing is pretty scary stuff. At the same time, I don't think I'll come across an investment opportunity quite like this again in my life time.

    I am considering to fully liquidate my 401k and would like to hear where you guys think I should plunk the money down. I'll get hit with 40% tax if I purchase physical. This is a big move and involves a large sum of money. Are there reputable IRA's that are FULLY backed by physical and reliable?

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  148. How about this for a hiding place. Go to the building supply and get a steel telescoping basement jack, about $40 . It consists of a lower steel 4" pipe with base and a top plate with a screw in it. Put your bullion in the base and simply turn it up tight to a beam under your house. All the steel would thwart a metal detector and no one is going to think about removing a building support under the house!

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  149. Here we go with anogher rare poster chiming in with a poke at PSLV's premium Hearsay that a Sprott guy told someone it was silly to buy their own product. What is the problem with letting the market sort it out. Can you provide a link? There is an obvious campaign to dis PSLV. Why?

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  150. Anyone ever heard of this place?

    http://www.fightingforsilver.com/

    No online ordering and he only sells ASE rolls but for $850. That's about $1.50 over spot! I only purchase for cash but for those of you with digital fiat it may be worth looking into.

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  151. Mammoth,

    Went to my favorite pawn shop today. I usually spend about a grand when I visit so I get a warm welcome. I asked to see some junk silver but it was only a few bucks woth.
    "Is this all you got?" I asked and he said he had some more that wasn't sorted yet and brings out a bag of about $400 face value and dumps it in a bowl on the counter.
    It was someones entire coin collection!! There were dollars and barbers and walkers and mercuries and loose proof coins and coins in holders. I got my pick of every thing there for 28.6 times face including war nickels. I got slider dollars for $26 and circulated dollars for $29 and a MS63 morgan with die cracks in a holder for $30! Got silver war nickels for 60% of spot! Got a handful of barber coins from the 1800's.
    It was a good day.

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  152. Gramps, lj, Darthsmoker -

    It's true that gold & silver are not magnetic, but a metal detector works by inducing a current in the piece of "stuff" to be found. It detects how strongly a current can be induced, so basically it can find anything conductive. And PMs are very conductive ...

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  153. Winker, Im thinking of doing the same thing. Liquidating my 401K. But I'm thinking about putting it into CEF. Thoughts?

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  154. lumpyshorts, your gold didn't go up in value, the value of your dollars went down. Its hard to understand and I have trouble explaining it even to people I know personally, but its at least partially what this blog is about. Compare the buying power of your 2001 dollars in something other than dollars and you will see what I mean. Gold is a hedge against inflation because it retains its value, it never goes up or down, its the value of everything else in relation to it that changes. I know, it 'seems' like you made a profit, but such is not the case!

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  155. The Big Guy provided several links at the beginning of this post.
    I encourage all to visit (or re visit) this one, and to follow some of the rabbit holes contained within.
    We often assume that TPTB controls this game, but consider for just a moment that they may fear us. They want every bit of what we have, cause once paper is gone what will be left?
    Billions spent to shake us out. How much more will they throw at gold to prevent the flight?
    Money managers are ready to pounce.
    Can they stop the flight at this point?
    Now they're crushing miners. Taking away the ability to convert to physical. Misdirection.
    Do the physical DD and see what you come up with.
    After all, physical is the end game. Just my.02

    http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=17770:real-bullion-begins-to-decouple-from-paper-bullion&catid=48:gold-commentary&Itemid=131

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  156. As far as gold miners, in the short term, I would like to move into AUY (until a week before they announce earnings in early May - ride the rumor baby). In the long term, my small cap pick is JAG, and I like the talk about NEM's dividend). For some reason the only gold miner I actually own is TRE (someone needs to spend more time producing gold and less time installing security cameras, IMHO).

    Silver - different story - SLW, GPL, EXK, CZICF, UMGZF, RVMID (thanks everyone who was babbling incessantly about RVMID, i finally bought in a week ago at 5.11... the problem is I expect 16% return every 5 days now)

    For oil, I love my CVX and PDS holdings over the last year, but think they are probably near plateaus and need to take profits. Not wanting to do due diligence, I have moved into XLE, PSCE, and ENY (for oil sands play) since January.

    someone posted a link in the last two weeks to a site that allowed one to check the current short interest in a stock... maybe justin or eric#1? could you post a link to that site again?


    Thanks,
    MHT

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  157. Any thoughts on 'Golden Goliath Resources Ltd. (GNG.V)'?

    I've been lurking around here for a few months and am a longtime ZH reader. I've been buying physical for 4 years, and am looking to start playing with miners. The action you folks have gotten since last summer on some of these stocks is increadible. I'm thinking about waiting until the whole QE3 is sorted. I've read the theory that Bernanke is going to let it dry for a few months after QE2 so people beg him for QE3. Looking at the charts I see a big dip in fall of '08, is that what we can expect if the Bernanke does indeed delay QE3?

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  158. @Deepak

    How will that prevent you from paying fed income on the withdrawal?

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  159. Ferretflat,
    Sounds like you made out very well today.

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  160. I see a lot of people here are scared of storing your metals in safety deposit boxes in US banks. If your stash is big enough you might want to consider a bank in Norway or Sweden. These are the safest and least corrupt countries in the world.
    There is no tax on buying gold, but there is on buying silver.

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  161. I feel like a junkie waiting for the racetrack to open up again at 6pm EST.

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  162. I am invested in only on gold miner, and they are more of a prospector these days, aiming to increase reserves to 1 million oz.

    Oz Stock exchange -- ASX:HEG

    http://www.hillendgold.com.au/

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  163. Twelve Steps

    1. We admitted we were powerless over the EE—that our silver, corn, and oil had become unmanageable.

    2. Came to believe that a Turd greater than ourselves could restore us to sanity.

    3. Made a decision to turn our will and our lives over to the care of Turd as we understood Him.

    4. Made a searching and fearless inventory of junior miners.

    5. Admitted to Turd, to ourselves, and to another human being the exact composit.ion of our portfolio

    6. Were entirely ready to have Turd remove all these defects of cash flow, drill results, and grams per ton.

    7. Humbly asked Turd to teach us the difference between a sigma and an epsilon.

    8. Made a list of all the IRA’s, 401K’s, and on line accounts we had harmed, and became willing to make money this time, dammit.

    9. Made direct amends to such accounts wherever possible, except when to do so would attract the attention of the IRS.

    10. Continued to buy junior miners and when we were wrong promptly sold them like the bad habit they are.

    11. Sought through clicking sponsors and feed the Turd to improve our conscious contact with Him as we understand Him, seeking only after knowledge of His technical analysis and his Sharpie Font.

    12. Having had a financial gain as a result of these steps, we try to carry this message to others, and to practice these principles in all our affairs.

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  164. My.Harbl.Testes,

    Here's that link. Just finishing watching the Maylaysian Grand Prix and catching up on my favorite blog.

    http://www.dailyfinance.com/company/great-panther-silver-limited-ordinary-shares-canada/gpl/ase/short-interest (my quick link to GPL short interest)

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  165. Thankyou everyone who has been so generous with your tips and other contributions.

    fyi - those in the US may find this hard to believe but my local (aussie) bank tried to charge me $180 AUD per trade to purchase stocks on either the US or Canadian exchanges - took me a while to get my IB account sorted after the heart attack that followed that info. But that pricing wouldn't be too much of a surprise for Aussie turdlings.

    My value add - Anyone that needs advice on building a website or how to bodysurf, I'll be here :)

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  166. Orion102 ""I've read the theory that Bernanke is going to let it dry for a few months after QE2 so people beg him for QE3. Looking at the charts I see a big dip in fall of '08, is that what we can expect if the Bernanke does indeed delay QE3?""


    I think thats exactly how its going to play out, except they're going to call it something else and explain how it is different than quanitive easeing .

    It looks to me like they're dammed if they do, and dammed if they dont,

    If they dont do it , the market will start to slip down again increaseing PM's value.

    If they do it ,and pump in more fiat, PM's increase in value.

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  167. On gold miners, my own little pet project is TPJ (on the London Stock Exchange) - Triple Plate Junction. The more research I do on this small explorer in Papua New Guinea, the more I feel it's going to be a safe bet. Newmont/Barrick tried to buy them out last year, but the director's said 'no'. A bigger takeover effort should be coming soon.

    Haven't jumped in yet - I'm waiting for a dip below 7 BPC. But if that happens, I'm going to go for it.

    Also looking at a few juniors in Mali, but don't feel comfortable throwing the names out yet as I'm far from sure about them at the moment. If anything looks promising, I'll post in due course.

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  168. Hate Chicago, but love Wrigley and R.J. Grunts.

    "I spend a lot of time pondering, writing about and planning for the end of the current economic system. To see it happening...and happening with such amazing speed and acceleration...is somewhat unsettling."

    And all we thought you did was trade.

    I hope everyone who has enriched themselves are using that wealth to protect themselves and their families. NOW is the time to find a safe place to live, with some resources and community. Trader Dan did. Turd is. Many are....

    As to the acceleration, it is truly unsettling. I can feel the dread and sense the darkness on the land. I don't see the America I once knew. This feels like a different country anymore.

    How long before the dollar crashes thru the 74.15 barrier? This week? Will sellers use the bounce to sell? Probably. Japan's tragedy has put the Fed in a huge hole. They can't buy all their own treasuries can they? Nope....

    What is Soros up to...the man who crashed the Bank of England?

    The endgame is upon us.

    got faith...

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  169. orion102

    Golden Goliath came up in conversation here a couple of days ago. Here's the meat of it in case you missed it:


    Stefan said...
    Eric #1,

    Glad to see someone finally mention Golden Goliath here

    I own GNG through a newsletter subscription, and the property looks incredible, but the price action is lousy so far

    Stickin with my $1000 lotto ticket though and not letting go unless bad news arrives


    Eric#1 said...
    Stefan

    Golden Goliath was the one of that list that I just hated to let go of. Probably the first one I buy back if I change my mind. Agnico Eagle and Sprott are heavily involved.

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  170. @ ferretflat,
    Love the steel beam jack idea. Fortunately I have a basement. Kudos on the pawn shop haul. Its sad to see the evidence of people selling out things of real value in pawn and coin shops.

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  171. Testes

    I had forgotten about ENY. Great Pick! Anybody looking for an energy play in general, or an oil sands play in particular, and wants a fund instead of individual stocks, should look at ENY.

    http://www.guggenheimfunds.com/etf/fund/eny

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  172. Better to short Oil in the next time;-)

    http://pesn.com/2011/04/07/9501805_Rossi_Cold_Fusion_Validated_by_Swedish_Skeptics_Society/

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  173. My pet miner is a company called Cream Minerals http://www.creamminerals.com (CMA on the TSX)

    They have a few properties now but the one in Mexico is the super exciting one.
    I don't own a ton but one I always watch :)

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  174. Wade: me too

    Frank Lang is their Chairman and owns a ton of it.

    And Sprott put in $6,000,000.

    Lots and lots of drill results coming. Check out the potential yields at their Canadian properties.

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  175. Both Minco and Endeavour have been madly trying to get a piece of Cream Minerals' Mexican silver project. So far without success. There must be something pretty exciting there.

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  176. To Jake the Snake, very very funny.

    Just thinking out loud here.

    Does anyone have the sense of something big coming like dead ahead. Someone on ZH used the expression "spidey" as in vibes.

    The Fed meets April 27,minutes released early may. I am reminded of the old saw, sell in may and go away.

    At the very least they are going to open their yaps, and pretend that this ends with QE 2.

    But can they? I think one thing they are doing is let this dollar go towards 70 cents and fast before China can sell, which represents alternative stimulus, helps the trade deficit etc., and then we will have what i call QE3 on the QT, they will keep buying treasuries, probably using the Bank of England as their proxy. Which they do already, or these caribbean banks, another proxy.

    But, and its just one mans opinion, i sense something big is looming. In the next six weeks. I would prefer it was an explosion to 50, but i expect a pullback.Sorry.

    Am i selling anything? Nope, I rode 2008/2009 and this should not match that. But it could be a bit bumpy.

    I am suspicious of silver at 41, ...as a beleiver in the JPM suppression scheme, which to me is indisputable, where the eff are they at round number 40?

    One thing they do do is suck in undisciplined buyers on breakouts , and 40 is a big fat round number.It could be a trap.

    Worst downside for silver, my guess, 32 to 35. At that level Sprott will do another 500 million PSLV and put paid to the decline. One persons guess.

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  177. Turd - good work for posting while you are travelling - does this make you "Turd On The Run", like that Rolling Stones song ???

    From the UK, we have different silver miners available - my favourite being Arian Silver AGQ who are producing in Mexico.

    Keep up the great work ! Thanks, Chris

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  178. Wade,
    Cream is on my watch list and one that I want to get into when funds permit. ..Well.. there have been many mentioned here that are on my watch list and it's so frustrating having to sit on the sidelines of so many potentially great companies in a bull market. "/

    Eric,
    I wish I had been as awake as you were 10/15 years ago. Had no clue. Determined not to miss the boat this time to the extent that I can be invested in the here and now. Most people in Turd's World seem to be much more affluent than I am. But I am grateful to be here to learn from everyone and move myself/my family forward. I think I represent the segment of the Turd populace who see the writing on the wall and are not in the best financial place to prepare but who are determined to do so. It's all about the determination, hard work, spirit of doing your very best and knowing that God above will take care of the rest. Yes, I wish I had been as smart as many on this board years ago.. but it's never too late to wake up! ...Well.. I take that back.. sadly one day it will be too late to prepare. Therefore my gratefulness now.

    I am going to church in one hour and going to check on that garden. It's a symbol of a community's lifeline and how we can make a difference for our own families and local neighborhoods.

    I am excited about the week ahead but with a big ol caveat of wondering about any takedowns ...which I know just represent good buying ops! ..........Great tips on storage too.. thanks everyone!!

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  179. SilverBleve,

    Gold is up over 300% since '01.

    The dollar is not down over even 50% since '01.

    Cars are a good example of something that has not risen in price 300% However gas is another story.

    I understand what you are saying. I think 95% of the people here get it. That's why we buy PMs SilverBleve.....Because we get it.

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  180. Ginger

    Never too late. Maybe ten years from now you'll be sitting there thinking "Thank God I was an early bird on this stuff ten years ago! Everybody thought I was nuts!"

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  181. How about stashing PM's in the blower section of your furnace where the filter is?
    Pretty large spot around the blower motor, not hot but warm and easy to access. Will not harm your airflow or motor etc. (unless you have a truly massive stack of PM's)
    Who would ever look there for any reason if your house was robbed?
    Maybe me...lol!

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  182. @SilverBleve & Lumpyshorts

    We've been saying lately that "gold has made a new nominal high" which means it has lost money since around 1981 vis a vis inflation. I'm not a number cruncher but to catch up to the value gold had back around 1981 it would have to be trading about $2800 if today's fiat dollars.

    Thus not only can one make a profit (in terms of fiat dollars) in gold they can take a loss as well.

    Brad

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  183. The Adjusted Silver Price.

    Many of us are fond of adjusting the silver price for inflation post 1980 when the Hunts cornered silver and jammed it to 50. I also remember it back at 15 2 months later.

    That said, if one uses Shadowstats inflation numbers, the real ones, you can argue that silvers adjusted high to match the 50 dollar high in 1980 would be, say, 150 to 250. Boy I hope so.

    But this adjustment for 30 years of inflation also has to be adjusted.

    The 50 dollar silver price of 1980 was the result of the Hunt Brothers cornering the market, so, respectfully, how good a comparable is this number?

    I would submit that its somewhat artificial. It lasted for a matter of hours, The Comex put Silver on 100 percent cash margin, and the Hunts spent the next ten years in bankruptcy court.

    Conversely, coming the other way, there were massive supplies of above ground silver then, and these inventories today are headed towards zero, they are down about 85 percent.

    And secondly we have a multitude of industrial uses for silver that did not exist back then, and a world population about double. Think China.

    So, I like to try and adjust the "inflation adjustment" to come up with an adjusted inflation adjustment price target!

    Sorry to be abstruse.

    So i will knock down the starting point from the "Hunt Corner" price of 50 in 1980 in half to 25.

    But then i add back the 2 positive variables mentioned above, particularly the serious dearth of aboveground silver supply, and i get a back of the envelope number of 32.

    Now this is not the end of the world, but this is the number i would be inclined to adjust for the 30 years of inflation using Shadowstats true inflation numbers .

    So i get about 100 dollars, maybe 90 to 100, in there. Still pretty fancy.

    This ignores countless other variables, such as in 2 years how much aboveground silver will there be, there could very well be none. Where is the US Dollar , well, it could very easily be worthless. Its certainly not going to be higher...and that would render a 100 dollar silver price ridiculously low.

    Anyway, this is just fun with numbers waiting for 6pm EST this afternoon.

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  184. Looking to pick up AEM for my next gold miner safe play. Don't think there's much downside left and falling wedge chart pattern suggests a break to upside. I'll know soon enough if I'm wrong and can cut my losses quickly.

    PM storage-what to do, what to do:
    house=fire
    safe=gun to head
    outbuilding=tornado
    So=bury it. But I like to fondle it!

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  185. You can get a good look at the baby eagles right now.

    http://www.ustream.tv/decoraheagles

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  186. Vamoose

    Totally agree on the silver numbers you discussed. That $50 silver was a totally artificial fluke. You need to knock it back to at least 35 to have a number that it actually traded at for any length of time. Then adjust for your favorite measure of inflation from there. Slightly different numbers from you I guess, but we are very much on the same page.

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  187. Curmudgeonly,

    Man I thought I had a fkd up name.

    Thanks for your input.

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  188. If anybody is interested in the old silver charts, this one looks pretty good.

    http://futures.tradingcharts.com/historical/SV/1980/0/continuous.html

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  189. nitemoves,

    do both! never put it all in 1 place.

    major stash buried in several different spots,
    minor trinkets to fondle in fireproof safe inside
    house.

    Done.

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  190. Mornin' all, I'm a lurker by nature so don't pipe up that often, but just got caught up on reading thru comments from the last few days and have seen some mentioning notebooks, journals, etc...

    On that note, Microsoft's OneNote is an amazing piece of software. It's similar to Evernote, but while Evernote's strength is cross-platform access to your notes, OneNote's strength is organizing your notes.

    I had been using OneNote this past year for school papers, and last week when somebody mentioned keeping a journal it dawned on me that I already had the perfect tool for that...

    Only downside it that it's not free, it's part of Office. IMO, it's worth the price of admission.

    ReplyDelete
  191. Ginger

    It might have occurred to you that it appears that I may have abandoned the miners just at the wrong time in 2002. Don't worry. I made really good money in the oil & gas space in the 2000's. And was constantly checking back comparing my results to various gold miner indexes, just to make sure I wasn't missing anything. Plus I was holding physical gold throughout. Nope, no regrets. I did just fine. ;)

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  192. Sprott Money ? Sprott.

    Gramps, I have dealt with them, both directions, they are fine,in fact excellent imho, possibly not the cheapest in North America, but I will pay 50 cents for certainty.If i cannot trust Eric Sprott I give up. I can and do. For many years.

    AS for Sprott, there is a certain irony here.

    Most people think that JPM and HSBC control the silver price through their paper shorting on Comex and the LBMA.

    WEll, they havent done too well since last November when silver was 24, in fact they have been buried alive.

    What happened?

    What happened was that Sprott Securities brought a 550 million dollar issue of pure physical silver to market at 10 bucks, (now 17) and threw a spanner into the works. The issue was heavily oversubscribed and went out the window.This of course is the redoubtable PSLV and their bars sit under the Royal Canadian Mint in Ottawa. It took 3 months to complete delivery and some of the bars were still warm. IE fresh from the refiner.

    This massive underwriting instantly altered the terms of trade in the silver market, arguably forever,and the price discovery shifted from Morgan and HSBC to Sprott, or, in fairness, any like minded mutual fund with a mind to do an issue of physical silver . Emphasis, PHYSICAL>

    The issue of PSLV made a potent fact crystal clear.... namely that there are no large amounts of physical silver available anywhere in the world, that what little may be around is spoken for.

    There is talk of a " Bernanke Put" that he will take the requisite steps to arrest any kind of large stock market decline to avoid the negative wealth effect on the economy.

    Well, the irony here, is that the silver market has a "Sprott Put" ( or any other mutual fund that does a large issue of physical) .

    I would argue that Eric Sprott is the reincarnation of Nelson and Bunker Hunt who cornered and drove silver to 50 in 1980, except he is a gentleman and he is honest.

    Jp Morgan no longer runs the silver price. Their physical achilles heel was exposed in November 2010 when PSLV was floated

    But nor is he stupid, PSLV sits today with an impossible 18 percent premium (ramped by JPM to stymie him??) to its Net Asset Value, so i do not see the next issue coming at 41 dollar silver.

    It will come on a correction into the 30s if we get one but the "Sprott Put" sits there under the market.

    No PSLV position, and no axe either, these just seem to be the facts of life.

    Blythe may be scared shitless of Mr. Ferguson, but the guy that sends her down the hall 20 times a day is Sprott, the new owner of the silver market, but he would be loath to say it. ,

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