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Michael Fitzsimmons

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  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    correction...i'm pretty certain the conversion is:
    1 lb (english) = 14.58 troy oz
    see above where i redid the calculation with this conversion factor.
    Aug 28 12:13 AM | Likes Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    venkata - you mean like the Fed has been doing? (finishing the auctions that is)
    Aug 27 11:58 PM | 2 Likes Like |Link to Comment
  • QEP Resources Pays Estimated $6 Million Per Drilling Location In The Williston Basin [View article]
    hi dhdhoora - oh, i see, i did not know BEXP was shopping themselves prior to the buyout. i can say, as a STO shareholder, they got BEXP on the cheap!

    while i agree there are takeaway issues in the bakken, those are solvable, and are being worked on as we speak: new pipelines, new rail lines - it will happen. there's too much money at stake for it not to happen. the world is shrinking in terms of access to proven and secure oil reserves. the bakken is just that. someone will swallow WLL, it's just way too undervalued. did you see this reuters article on bakken takeover talk:

    http://bit.ly/NyUQ5r
    Aug 27 11:39 PM | Likes Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    bigdata - i have an interesting story for you. during the 2007 crisis (i think lehman had just gone down), it is said that Russia's Putin called China's Hu Jintao and said, "If we both sell our U.S. Treasury bonds on the market right now, that will be the end of the U.S.". it is reported that Jintao said "Yes, but it would be the end of China as well. However, it may not always be that way......"
    Aug 27 11:23 PM | 1 Like Like |Link to Comment
  • Who Will Take Over Whiting Petroleum? [View article]
    Dealtalk mentioning WLL:

    http://reut.rs/RTg7Ow

    i guess the QEP and CNOOC deals have people snooping around for bargains. what is a better bargain than WLL at $5.2B market cap, a PE=10, all that great acreage, growing production at 28%, and currently the 2nd largest producer in the bakken?
    Aug 27 08:36 PM | Likes Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    heh heh! thanks AgAu - that was good for my 2nd big belly laugh of the day. i'm gonna have to take a break now :) man, that was just what i needed. hahaha $42.22. hahah. jeez. that just cracks me up for some reason.
    Aug 27 07:55 PM | 1 Like Like |Link to Comment
  • QEP Resources Pays Estimated $6 Million Per Drilling Location In The Williston Basin [View article]
    nice analysis richard. this has to be bullish for Whiting Petroleum (WLL), which as the 2nd biggest producer in north dakota, a PE=10, growing production at 28%, and all that nice acreage with only a $5.3B market cap. why do you think one of the big boys hasn't swooped in and taken WLL over as STO did BEXP? thanks again for the excellent article.
    Aug 27 07:52 PM | Likes Like |Link to Comment
  • QEP Resources Takes A Bigger Bite Of Bakken [View article]
    this has to be bullish for Whiting Petroleum (WLL) and Kodiak (KOG). when is a big-boy gonna step up and takeover WLL? it's so undervalued. i mean if STO could take BEXP, how come the #2 producer in the bakken (WLL) isn't just as desirable? i mean it's not like the stock is over-valued...PE=10, market cap 5.2B, growing production at 28%, and all that choice acreage! man, i just don't get it.

    Long WLL: yes, i practice what i preach :)
    Aug 27 07:48 PM | Likes Like |Link to Comment
  • The Fed's (Fictional) Intervention In The Gold Market, Part IV: Faulty Logic [View article]
    I would say the Fed intervenes with the gold market every time they print paper money.
    Aug 27 07:44 PM | 1 Like Like |Link to Comment
  • Investment Potential In Bakken Pipeline Takeaway Infrastructure [View article]
    hello rlp2451, and those are good questions. if i had to guess, the difference in price are due to transportation costs. clearfield is the end of the line, and therefore more expensive. at the source will be the cheapest, which is why the producers haven't been getting clearbrook prices (as you can see in their earnings releases). those who have to truck from the wellhead are getting the least. phillips 66 (PSX) just bought 2,000 railroad tankers to transport bakken oil to their refineries by rail. this is, obviously, a huge issue as there are billions of dollars at stake here. any producer in the region that can glean efficiencies from their loading and transport of product stands to gain serious advantage over rivals. those nearest pipelines are in the best shape, then rail, then truck, then carrier pigeon ;)

    at the rate bakken and oil sands oil production is growing, this transport "problem" (the U.S. having too much oil to transport a problem..hahah, that's ironic yes?) is going to be around awhile. i was dead wrong about seaway reversal narrowing the spread because bakken production increased almost barrel-for-barrel with the new takeaway capability. i love PSX for this reason. i think the rail car strategy will be tremendous for them.
    Aug 27 07:42 PM | Likes Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    thank you AgAu. so let's see if it makes much difference. my earlier calculation (corrected for troy oz) was:

    1 oz gold = $1.08 trillion / 237.231 million oz = $4552.52 / oz

    we'll do it again using your "Treasury reported" number, again using the Federal Reserve reported currency in circulation:

    1 oz gold = $1.08 trillion / 261,498,899.316 oz = $4130.04 / oz

    well, i guess that is meaningful to a certain extent...but we're still over $4,000 / oz which was my point. i have no idea where Treasury comes up with a book value of $42.22/oz - do you know? Perhaps no one has told them about kitco.com or apmex.com :)

    thank you also for the helpful link.
    Aug 27 07:34 PM | 1 Like Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    yes, the height of hypocrisy isn't it? who but ron paul has been the strongest supporter of *real* republican values for the last 20-30 years? small government, low taxes, the Constitution, real conservative fiscal and foreign policies...i mean Ron Paul has been THE man. the ONLY man. it just goes to show how scared the Republicans are to look at who they are today and compare themselves to a REAL republican. i mean who else criticized bush for the deficit spending rampage he went on? the un-Constitutional wars? the extreme growth in the size of the government? Paul was just about the only Republican to call Bush out on it. and look where we are today because of it....he can't even speak at the convention, and we'll get more of the same with Romney/Ryan. that is sad. real sad.

    that's why i always say i didn't leave the Republican Party, it left me. except for Ron Paul. he is that party's only hope for success, and they won't even let him talked. they are *scared* to let him talk because he will let them all know what hypocrites they have been.
    Aug 27 06:37 PM | 3 Likes Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    yes indeed: you used to could take a U.S. paper dollar (note) into a bank and convert it directly into gold and leave with it (after all, that is how the constitution says it should work). that is what a gold standard means. it was certainly the historic case in this country. then we created the Federal Reserve, veered off course, and well, here we are today....
    Aug 27 05:53 PM | 3 Likes Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    yes, i doubt Congress has any plans to go back to the gold standard. i wrote the article because the Republicans seem to be talking about it alot around the convention. that said, i think it's hypocritical since they won't let the champion of the gold standard, and *real* republican values (Ron Paul) even speak at the convention. such hypocrisy on a national level i have never seen before - even from one of our illustrious political parties. the republicans are scared to let Paul speak because he might actually teach them what being a real republican is all about!!
    Aug 27 05:52 PM | 3 Likes Like |Link to Comment
  • 1 Oz Gold Valued By U.S. Currency In Circulation And Outstanding Debt [View article]
    yes, i believe he did mean trillion. that said, $4 trillion/year looks mighty low to me...
    Aug 27 05:49 PM | 1 Like Like |Link to Comment
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