Freeport Turns Cheap On Complex Purchases [View article]
I have owned shares in this company since it was known as Freeport Sulphur.. It is amazing how they have grown since. I was concerned when they decided to go into the gold mining business. To the best of my recollection gold was selling about $35 per ounce at that time and nobody wanted it, so why would anybody want to go into the gold mining business. . I also objected when they went after Phelps Dodge assets because they were too big and I didn’t think FCX could handle the financing. The dividends have always been satisfactory and I was pleased when they started paying special dividends in addition to the regular quarterly dividends. Some of the original management is still with Freeport, and I have confidence in them. So when the manipulators ran all the stops right down to the present price, I doubled up on my shares. My guess is that now the manipulators will slowly cover their shorts and the stock will start rising. Even if it doesn’t, I will remain invested in FCX. This stock goes up and down all the time. Who cares--unless you buy the stock to scalp a few pennies.? I am an investor--not a gambler. My guess is that for years to come there will still be a market for gold, copper, oil and gas and that FCX will continue to profit and pay dividends . Of course, there is always the chance that the company could be taken over by the new fangled management types who treat corporations as their own private property and keep all the profits for themselves and fellow conspirators.
In recent years these raids have become a pattern and a lot of folks have been scared out of good positions. In my opinion, it has also one of the prime reasons that people are getting out of the stock market. In the last 30-40 years, the stock market has become a very dangerous place to be. The big unscrupulous financial firms have been having a field day harvesting everybody’s IRA’s and savings. The best place to put savings is Gold. The financial wizards haven’t yet figured out a way to get their hands on the physical gold kept in your own possession. My guess is they are working to get that too. It is hard to keep the financial people and other criminal types out of your pocket.
I’m not worried about nationalization of the mine in Indonesia. Indonesia’s navy is no match for the US Navy. Indigenous people -not Indonesians-are the real headache for FCX
I first bought shares in this company when it mined sulphur in the gulf of Mexico by injecting hot water into underground deposits of sulphur. They had good management and were profitable, and people wondered why in the world they would want to get into gold and metal mining. As it turned out, management was not stupid after all, and they have done very well since. Don’t sell management short because they are very capable and they have treated shareholders very well. You can't say that about many corporations, can you?
Agreeing on the creaky condition of the fiscal position of Western governments, two economists come to the opposite conclusion on gold. Lombard's Leigh Skene thinks the EU debt crisis has set in play a deflationary spiral in which gold falls (and sliver plunges), while John Williams says 2014 will bring realization of the U.S. government's insolvency and a soaring price. [View news story]
When I was a kid, a silver dime would buy a loaf of bread. Today, a silver dime still buys a loaf of bread. When we have deflation, I am reasonably sure a silver dime will still buy a loaf of bread. You never know what fiat currency will buy. Sometimes it becomes as worthless as a continental or confederate dollar and does not buy much of anything..
Something's Happening Here, What It Is Ain't Exactly Clear [View article]
Years ago, part of corporate earnings were paid to shareholders in the form of dividends. Today, officers and directors plunder the corporation and the shareholders get little or nothing. About 20 years ago, the top income tax rate was 96-7 percent. About 6-7 years ago, high net worth individuals were subject to substantial estate taxes on death. Since they pay very low income and estate taxes , it is no wonder today that megalomaniac corporate executives rip their own corporations off. Restore high income taxes for the wealthy and restore the estate tax. When that happens, corporations will start paying dividends again.
Fed Gets Aggressive: Willing To Risk Some Inflation [View article]
i suppose an annual tax of 3-4% could also be imposed on farmland, or other real estate or even on the ownership of automobiles or other personal property. The personal property tax was not very popular. That is why it was repealed in our state. I don't think wall street would like it if a tax was imposed on whatever realty or personalty they owned. If an annual tax was imposed on the ownership of physical gold you can be sure that it would soon be extended to the ownership of other physical assets.
Few want to see inflation, and nobody wants hyperinflation, but we desperately need something more than just moderate inflation. If we don't get it we will never be able to pay our debts.
Fed Gets Aggressive: Willing To Risk Some Inflation [View article]
What is so terrible about infation. We have it all the time. Of course we don’t need the Weimar type, but the dollar has been devalued for years. That is the reason we have paper currency. We don’t want gold because it always holds it purchasing power .
Our debts are astronomical; The people do not want to pay taxes. We can’t pay our debts unless we can pay with a cheaper paper dollar. That is the reason the 1913 dollar is worth less than 3-4 cents in today’s currency.
Monday Market Measurements: How Great Are Things? [View article]
Why do people continue to insist on predicting market movements using methods that are not going to work? Years ago, people could make predictions by applying economic laws, using technical analysis, fundamental analysis and all the rest of that stuff. They could even use common sense. It should be abundantly clear by this time that these rules no longer apply. If ,in fact, all of those old fashioned outdated rules applied now, the market would probably be around half of what it is right now, wouldn't’ it? In fact. that is what many if not most of the gurus have been predicting. To listen to them, the sky would be falling. No doubt they earn a few dollars scaring people. The gurus have been wrong. What did Einstein say about doing the same thing over and over again and expecting different results?
In a few weeks, there will be an election that will have profound effects not only on the US, but on the entire world. This is no ordinary election. The outcome of this election could tip the economy of the world over the brink. If you think this election will just determine if Obama and Bernanke retain power you are wrong. Millions of Federal and State jobs are at stake. Foreign nations will be affected in many ways. There are powerful forces worldwide at work right now. Obama is not a wimp to give up with out a fight; nor are those who profit from his office. No indeed. Not with trillions of dollars of plunder at stake. The 2 billion dollars the presidential candidates say they will spend is just peanuts. Right now, it looks like one huge bank is in Obama’s corner. This one bank alone can easily put the market wherever it wants the market to be.
My own opinion is that the bank and other forces will keep the market around current levels. To do otherwise would affect Obamas chances of being re-elected However, there is nothing to prevent it from reaching obscene highs.
Why gamble in the stock market when you chances of winning are so remote? If you are addicted to gambling, why not wait to place your bets until after the election
TGIF: Stop The Rally, We Want To Get Off [View article]
NEIL
I don’t know what the price of gold will be when China starts its ETF’s and I don’t care.
I started buying gold coins when the price of gold was $35 and I could exchange a paper silver certificate for a Peace or Morgan silver dollar. I am still buying gold and silver coins. I only buy. I do not sell. I am not a speculator. Both gold and silver coin have retained their buying power, and I considered coins the best way to save for the last 75 years. I also own apartment buildings I bought in the mid 60’s and these are a good investment. I am skeptical of ETF’s. especially those that claim they are backed with physical gold or silver.
It is hard to believe the US has changed so much in the last 80 years. there was a time when a man’s word was his bond and a deal could be consummated with a handshake. No more. I was a corporate lawyer for roughly 8 years and was in private practice and politics for about 32 years. What I learned during those years is that you cannot trust anybody especially corporate executives and politicians. Anybody that does trust them needs to have a guardian appointed for them.
I don’t invest in anything I do not have complete control over.. Bonds, stocks, contracts-written or oral, and paper money may become worthless especially when the US or European economies implode Once I tried to get a bid on Polish government bonds. They were worthless. I tried to get a bid on New York Central Railroad bond payable in gold of a certain weight and fineness. Worthless. The worthless stock certificates I have in my files is about ¼ inch deep when they are compressed. There is not enough space here, nor do I have time to even begin to tell you what a bunch of self serving bast---s the human race has become.
I believe JPM is the corp. selected by the US government to keep the price of silver at a level approved by the government. Therefore JPM will not sustain any losses regardless of the price of silver.
Silver will continue to maintain its value, but US citizens do not understand gold and silver and hence will not buy it. Most do not understand that gold and silver coins are issued by the US mint and are acknowledged by the government as money. It says so right on the face of each coin
4 Reasons Stocks Can Move Significantly Higher [View article]
A lot of good comments. But, forget all the charts and analysis's. The whole thing can be condensed into one simple comment, and that is: if the people in power, that is the bankers and their congressional muppets want the stock market to go up, it will go up. If they want it to go down, it will go down.
Since the government decided not to make Goldman pay the fine, Goldman's man Draghi popped the market to new highs. I assume the stock market will go up at least until after the election.
After the election, the banksters may cause the market to go down. Obviously it would be in their interests to do so, since they could make some very large profits very quickly. however, what happens will depend on which party has power, and what deals the politicians can make with the bankers.
TGIF: Stop The Rally, We Want To Get Off [View article]
Governments world wide are working frantically to keep the economy from falling into the abyss. Isn’t what they are supposed to be doing?
This is a different world. Times have changed. and we have to change with it, so forget about technical analysis, fundamental analysis and all that old fashioned stuff and concentrate instead on governmental analysis.
Massive injections of liquidity will-hopefully- bring on sufficient inflation to make debt manageable, raise the value of the stock market, real estate and all other assets owned by those who are important-to wit: the 1% who control congress. That is the reason we will have QE to infinity
Buy physical gold and silver and take delivery. Do not let any else hold your precious metals. Also, buy real estate and stuff that is valuable. Do not waste your money gambling in manipulated stock markets or on paper promises .Promises and contracts are made to be broken.
It is OK to listen to Phil and follow his advice because he is just about the only guy who knows what he is talking about. Pay attention to those other guys and it could cost you plenty.
Failed German Auction Shows Why ECB's Latest Plan Won't Work [View article]
You will never hear the word "depression" spoken nor will you see it in print because it is not in the best interests of the masters of the world to allow the masses to see or hear that word.
"...weather its food. gold or gas ,hoarding shows foresight but in times of distress it is seen as the worst of anti social behavior..."
I can only say that it appears you consider gold a commodity whereas I consider it money.
I have saved all my life. I don't consider saving as a vice. Rather I consider it a virtue.
Whilst you consider saving gold coins "..as the worst of anti-social behavior..." I will continue to consider accumulation of gold coins not only as socially acceptable but also as prudent.
I appreciate your frank comments. They may--in part--explain why citizens of the US do not own much physical gold.
Allow me to correct your mis- statement of facts. It was not unlawful to collect gold coins at the times mentioned. In fact, you could buy gold coins at any coin shop. At that time ,collecting coins was a popular hobby. I bought my first StGaudens double eagle when the price of gold was $35 an ounce If you need verification, call any coin dealer. .
Freeport Turns Cheap On Complex Purchases [View article]
In recent years these raids have become a pattern and a lot of folks have been scared out of good positions. In my opinion, it has also one of the prime reasons that people are getting out of the stock market. In the last 30-40 years, the stock market has become a very dangerous place to be. The big unscrupulous financial firms have been having a field day harvesting everybody’s IRA’s and savings. The best place to put savings is Gold. The financial wizards haven’t yet figured out a way to get their hands on the physical gold kept in your own possession. My guess is they are working to get that too. It is hard to keep the financial people and other criminal types out of your pocket.
I’m not worried about nationalization of the mine in Indonesia. Indonesia’s navy is no match for the US Navy. Indigenous people -not Indonesians-are the real headache for FCX
Oh Freeport Why Would You Do That? [View article]
Agreeing on the creaky condition of the fiscal position of Western governments, two economists come to the opposite conclusion on gold. Lombard's Leigh Skene thinks the EU debt crisis has set in play a deflationary spiral in which gold falls (and sliver plunges), while John Williams says 2014 will bring realization of the U.S. government's insolvency and a soaring price. [View news story]
Something's Happening Here, What It Is Ain't Exactly Clear [View article]
Fed Gets Aggressive: Willing To Risk Some Inflation [View article]
The Inflation Trade Is On [View article]
Thursday's Fed Folly - Time For Bernanke To Put Up Or Shut Up [View article]
Fed Gets Aggressive: Willing To Risk Some Inflation [View article]
Our debts are astronomical; The people do not want to pay taxes. We can’t pay our debts unless we can pay with a cheaper paper dollar. That is the reason the 1913 dollar is worth less than 3-4 cents in today’s currency.
Monday Market Measurements: How Great Are Things? [View article]
In a few weeks, there will be an election that will have profound effects not only on the US, but on the entire world. This is no ordinary election. The outcome of this election could tip the economy of the world over the brink. If you think this election will just determine if Obama and Bernanke retain power you are wrong. Millions of Federal and State jobs are at stake. Foreign nations will be affected in many ways. There are powerful forces worldwide at work right now. Obama is not a wimp to give up with out a fight; nor are those who profit from his office. No indeed. Not with trillions of dollars of plunder at stake. The 2 billion dollars the presidential candidates say they will spend is just peanuts. Right now, it looks like one huge bank is in Obama’s corner. This one bank alone can easily put the market wherever it wants the market to be.
My own opinion is that the bank and other forces will keep the market around current levels. To do otherwise would affect Obamas chances of being re-elected However, there is nothing to prevent it from reaching obscene highs.
Why gamble in the stock market when you chances of winning are so remote? If you are addicted to gambling, why not wait to place your bets until after the election
TGIF: Stop The Rally, We Want To Get Off [View article]
I don’t know what the price of gold will be when China starts its ETF’s and I don’t care.
I started buying gold coins when the price of gold was $35 and I could exchange a paper silver certificate for a Peace or Morgan silver dollar. I am still buying gold and silver coins. I only buy. I do not sell. I am not a speculator. Both gold and silver coin have retained their buying power, and I considered coins the best way to save for the last 75 years. I also own apartment buildings I bought in the mid 60’s and these are a good investment. I am skeptical of ETF’s. especially those that claim they are backed with physical gold or silver.
It is hard to believe the US has changed so much in the last 80 years. there was a time when a man’s word was his bond and a deal could be consummated with a handshake. No more. I was a corporate lawyer for roughly 8 years and was in private practice and politics for about 32 years. What I learned during those years is that you cannot trust anybody especially corporate executives and politicians. Anybody that does trust them needs to have a guardian appointed for them.
I don’t invest in anything I do not have complete control over.. Bonds, stocks, contracts-written or oral, and paper money may become worthless especially when the US or European economies implode Once I tried to get a bid on Polish government bonds. They were worthless. I tried to get a bid on New York Central Railroad bond payable in gold of a certain weight and fineness. Worthless. The worthless stock certificates I have in my files is about ¼ inch deep when they are compressed. There is not enough space here, nor do I have time to even begin to tell you what a bunch of self serving bast---s the human race has become.
I believe JPM is the corp. selected by the US government to keep the price of silver at a level approved by the government. Therefore JPM will not sustain any losses regardless of the price of silver.
Silver will continue to maintain its value, but US citizens do not understand gold and silver and hence will not buy it. Most do not understand that gold and silver coins are issued by the US mint and are acknowledged by the government as money. It says so right on the face of each coin
4 Reasons Stocks Can Move Significantly Higher [View article]
Since the government decided not to make Goldman pay the fine, Goldman's man Draghi popped the market to new highs. I assume the stock market will go up at least until after the election.
After the election, the banksters may cause the market to go down. Obviously it would be in their interests to do so, since they could make some very large profits very quickly. however, what happens will depend on which party has power, and what deals the politicians can make with the bankers.
TGIF: Stop The Rally, We Want To Get Off [View article]
This is a different world. Times have changed. and we have to change with it, so forget about technical analysis, fundamental analysis and all that old fashioned stuff and concentrate instead on governmental analysis.
Massive injections of liquidity will-hopefully- bring on sufficient inflation to make debt manageable, raise the value of the stock market, real estate and all other assets owned by those who are important-to wit: the 1% who control congress. That is the reason we will have QE to infinity
Buy physical gold and silver and take delivery. Do not let any else hold your precious metals. Also, buy real estate and stuff that is valuable. Do not waste your money gambling in manipulated stock markets or on paper promises .Promises and contracts are made to be broken.
It is OK to listen to Phil and follow his advice because he is just about the only guy who knows what he is talking about. Pay attention to those other guys and it could cost you plenty.
Just the opinion of an old man.
Failed German Auction Shows Why ECB's Latest Plan Won't Work [View article]
Caution Advised In Gold And Silver [View article]
"...weather its food. gold or gas ,hoarding shows foresight but in times of distress it is seen as the worst of anti social behavior..."
I can only say that it appears you consider gold a commodity whereas I consider it money.
I have saved all my life. I don't consider saving as a vice. Rather I consider it a virtue.
Whilst you consider saving gold coins "..as the worst of anti-social behavior..." I will continue to consider accumulation of gold coins not only as socially acceptable but also as prudent.
I appreciate your frank comments. They may--in part--explain why citizens of the US do not own much physical gold.
Caution Advised In Gold And Silver [View article]
At that time ,collecting coins was a popular hobby. I bought my first StGaudens double eagle when the price of gold was $35 an ounce
If you need verification, call any coin dealer.
.