Seeking Alpha


Send Message
View as an RSS Feed
View Whippet's Comments BY TICKER:
Latest  |  Highest rated
  • Homebuyer Nirvana: Low Prices, Low Rates [View article]
    Nice job, conceptwizard. I think CFB has been smokin' the homegrown again.

    I'm even more concerned about what this spells out for the dollar- in less than a hundred years, we've moved from a hard currency to one backed by the "full faith and credit of the US Government" to one backed by green-pooled McMansions, marked at 60 cents on the dollar.
    Sep 25 02:57 PM | 1 Like Like |Link to Comment
  • House Financial Services Chairman Barney Frank - who favors a "council of regulators" over the Federal Reserve when it comes to watching systemic risk - is backing Ron Paul's "Audit the Fed" bill, which is facing no significant opposition in the House.  [View news story]
    A conga line of idiots following 3000 years of financial history up until 1913. As viewed from your Keynesian elitist clusterf^&k.

    On Sep 25 01:47 PM jpiretti wrote:

    > Boy,
    > It's like a conga line of idiots from the John Birch school of delusional
    > economics writing these comments.
    Sep 25 02:48 PM | 4 Likes Like |Link to Comment
  • Food prices will rise 2-3% this year, the government said in a forecast lowered from earlier estimates of 2.5-3.5% gains. Lower commodity and energy costs are helping keep prices low.  [View news story]
    Here lies the Keynesian definition of deflation, right? Lower commodity and energy costs drive the price of the outputs HIGHER?
    I wish Krugman would do an op-ed on THIS...
    Sep 25 01:10 PM | 1 Like Like |Link to Comment
  • House Financial Services Chairman Barney Frank - who favors a "council of regulators" over the Federal Reserve when it comes to watching systemic risk - is backing Ron Paul's "Audit the Fed" bill, which is facing no significant opposition in the House.  [View news story]
    But what about the Senate? The Financial Crime Syndicate owns both sides of the aisle on the other side of the Capitol...
    Sep 25 11:05 AM | 5 Likes Like |Link to Comment
  • SAVE THE PLANET - WEAR A CONDOM [View instapost]
    Good point, but be wary of Progressive Eugenics. (Which is a redundancy, of course, as progressives thought up eugenics in the first place.)

    On Sep 23 12:23 PM TeresaE wrote:

    > Idiocracy, an admittedly bad movie, held some very frightening realities.
    > In the first 15 minutes or so, it showed two couples. Couple #1
    > was educated and socially conscious, woman had a career and they
    > put off kids until they were "ready. Couple # 2 met in high school,
    > married as teens thanks to an "unintended" pregnancy and had many,
    > many children.
    > It is well documented that those of us that understand we are financially,
    > physically and emotionally responsible for our offspring have fewer
    > children. Sadly, those that provide nothing (without government handouts)
    > have the greatest number of kids. The movie extrapolated that
    > 500 years out we will be a nation/world of complete morons as the
    > gene pool is completely trashed by the sheer number of idiots and
    > loss of median intelligence.
    > We continue to bonus people for making bad decisions and all we truly
    > accomplish is to increase the low end of the gene pool. College
    > grads IQs prove this our - our mean IQs are dropping-go figure.<br/>
    > This grand plan is yet one more way in which those of us that contribute
    > will make the sacrifices so that those that do nothing can continue
    > on.
    > Why is every plan that comes out of any government utter rubbish?
    > Hey, maybe if we taught (and practiced) personal responsibility the
    > unintended consequences would be good (for a change).
    > Nah, just keep rewarding bad behavior while punishing those that
    > try to do the right thing. After all it is working out so well for
    > us now.
    Sep 23 01:59 PM | 1 Like Like |Link to Comment
  • Hyper Prosperity Will Replace Hyper Inflation [View article]
    And those millions of mis-, re- and un-educated people can all watch mainstream media and read enough words to pull a lever in a voting booth.
    Our fall could be more like Greece's than Rome's.

    On Sep 22 09:48 AM commoinsense1211 wrote:

    > No more comparison to the past please, for once history will not
    > repeat itself, unless you're comparing the US to the Roman Empire.
    > We've lost almost all our manfacturing base, millions of under or
    > mis educated people are unemployed, our government is corrupted and
    > the deficit is beyond repair. hate to be so negative but this article
    > brings out the worst in me, step away from the kool-aid.
    Sep 22 10:01 AM | 6 Likes Like |Link to Comment
  • Hyper Prosperity Will Replace Hyper Inflation [View article]
    Uhh, what kind of numbers are you using for inflation? If you use the same metrics to measure today's inflation that they used in 1990 (let alone 1974) our real interest rate is negative 4.5-5.5%.

    And Paul Volcker is a statue in the West Wing.
    Sep 22 09:58 AM | 8 Likes Like |Link to Comment
  • Want to Own Silver? Forget About SLV [View article]
    Yeah, PWC , Deloitte, two more- the Big Four. Funny how that used to be the BIG FIVE before Arthur Anderson ate $hit and died with Enron.

    On Sep 17 01:30 PM Michael Murphy wrote:

    > SLV is audited by PricewaterhouseCoopers one of the Big Four accounting
    > firms.
    > "In our opinion, the financial statements listed in the accompanying
    > index present fairly, in all material respects, the financial position
    > of iShares Silver Trust (the “Trust”) at December 31, 2008 and 2007,
    > and the results of its operations and its cash flows for each of
    > the periods presented in conformity with accounting principles generally
    > accepted in the United States of America. Also in our opinion, the
    > Trust maintained, in all material respects, effective internal control
    > over financial reporting as of December 31, 2008, based on criteria
    > established in Internal Control - Integrated Framework issued by
    > the Committee of Sponsoring Organizations of the Treadway Commission
    > (
    > Our audits of the financial statements included examining, on a test
    > basis, <b>evidence supporting the amounts and disclosures in the
    > financial statements</b>, assessing the accounting principles used
    > and significant estimates made by management, and evaluating the
    > overall financial statement presentation. Our audit of internal control
    > over financial reporting included obtaining an understanding of internal
    > control over financial reporting, <b>assessing the risk that a material
    > weakness exists, and testing and evaluating the design and operating
    > effectiveness of internal control based on the assessed risk</b>.
    > Our audits also included performing such other procedures as we considered
    > necessary in the circumstances. We believe that our audits provide
    > a reasonable basis for our opinions."
    > If you don't think they counted the silver, you are wrong.
    Sep 18 11:32 AM | Likes Like |Link to Comment
  • Defense Sector Will Suffer Due to Economic Collapse, Budgetary Constraints [View article]
    Thanks, Jeff. I guess I should start looking for land in central Manitoba. I've also heard that Labrador is nice this time of year...
    Sep 17 01:28 PM | 1 Like Like |Link to Comment
  • Want to Own Silver? Forget About SLV [View article]
    Thanks, Jeff. It is obviously impossible to quantify, as I don't know how many ounces of silver you have and you don't know how many I have. I'll look into Ted Butler.

    On Sep 17 10:26 AM Jeff Nielson wrote:

    > Hi Whippet.
    > Yes, there is the need to get our terms straight. "Inventories",
    > as you say, represent the amount of silver which is (supposedly)
    > currently for sale. And as I pointed out, there is no way to justify
    > including the PRIVATELY owned/held silver supposedly owned by ETF-holders
    > as part of "inventories".
    > "Stockpiles" refer to the amount of silver which COULD come onto
    > the market (if prices moved up to a high enough level). The person
    > who has spent the most time doing research on this number is Ted
    > Butler. He estimates "stockpiles" at roughly 1 billion ounces - which
    > would still represent a 90% decline in "stockpiles" over the last
    > 50 years.
    > There are no OFFICIAL sources for such data. Two private consultants
    > (one in New York, one in London) who are BOTH rumored to have close
    > ties to the anti-gold cabal are the only quasi-official sources of
    > supply data. As I have pointed out before (especially with silver)
    > some of their numbers are highly dubious.
    Sep 17 11:04 AM | Likes Like |Link to Comment
  • Want to Own Silver? Forget About SLV [View article]
    I pulled my data from my bullion broker, California Numismatic Investments, webpage. ( I trust their info, but am ultimately in the same place as you- skeptical. I have read the 30 ounce gold rule in multiple places, so am relatively sure of that one. I'll do some research into hard, CFR regulation- type data when I get a chance and let you know.

    On Sep 17 10:07 AM doubleguns wrote:

    > Monex informed me that they do not report anything to the IRS. This
    > is news to me. Where can I find out the truth, I believe you!! Your
    > info is always credible, but I would like to have something to reference
    > when I question (waterboard) my broker.
    Sep 17 11:02 AM | Likes Like |Link to Comment
  • Want to Own Silver? Forget About SLV [View article]
    Jeff- I have a fundamental question you may know the answer to.
    As for silver inventories, the chart you show is "ready for sale" silver, correct? I just wonder how much private inventory is out there in the form of pre 1965 USA, pre 1968 Canadian, etc. coinage and other junk (silver sets, spoons.) Have you seen estimates published anywhere as to what this number is? It would be useful to have a ballpark figure, as this proposes upward resistance in silver price as more people sell Grandpa's coins at each prospective milestone price.
    Sep 17 09:58 AM | 5 Likes Like |Link to Comment
  • Want to Own Silver? Forget About SLV [View article]
    Another reason to flee silver ETF's:
    If you buy and sell 100 shares of SLV, and profit $1000, this is reportable to the IRS.
    If you buy and sell 100 American Silver Eagles, and profit $1000, the transaction is not reportable to the IRS. The rules change at 1000 ounce transactions and $1000 face 90% silver bags. (For this reason alone, COMEX 1000-ounce bars are an extremely stupid idea.) No metal transactions were reportable until the 1970s, when they made >30 ounce gold and >1000 ounce silver transactions reportable because of "the drug trade." (Always nice to have a straw man.) But that's another conspiracy article for Jeff... ;-)
    Sep 17 09:53 AM | 21 Likes Like |Link to Comment
  • Gold to $3,000? [View article]
    <<As Arends points out, valuing gold on fundamentals is an impossible task. Unlike equities, gold generates no earnings. Unlike bonds, the yellow metal pays no coupons, and has no yield to maturity. It is essentially a “perpetual zero coupon bond,” making determinations of relative value a difficult exercise.>>

    Wow, this is close to the most absurd statement I have ever seen on Seeking Alpha (and that include's Michael Fitzsimmons' articles). Gold is not "valued" as an equity; it is "valued" as money or any other commodity- a function of supply and demand. The fundamentals for gold are the balance sheets of the demand and supply sides, reconciled. I fundamentally analyze gold on a continue rolling basis, as I do with oil, silver, and soft commodities. Mine production peaking? Bullish fundamental. Jewelry demand down? Bearish fundamental.
    The dollar also is a "perpetual zero coupon bond." The difference being that God is not continuously diluting the gold supply, and the same cannot be said for Ben.
    Sep 17 09:38 AM | 8 Likes Like |Link to Comment
  • Why Is Congress Agnostic About Natural Gas? [View article]
    Uh, no. Jimmy Carter's damn near DEPRESSION reduced oil imports by 50%. That's the liberal plan for energy independence- destroy the economy to a point where demand is at near-Amish levels.

    Perhaps Kongress and Chu are "agnostic" about natural gas because the American sheeple are agnostic about natural gas. The sheeple like liquid transportation fuels, period. Take a poll- no one gives a %^&* about natural gas for their cars; those who heat their homes with it still have tremors at the absurd, manipulated price spikes a few years back. Only the FREE MARKETS will eventually push people to install Phills in their garages and convert their Civics to CNG. Kongress and the messiah's Administration do not and never will have a plan to create energy solutions for America; their plan is to turn us into Aborigines (while they and their bankster pals tool around in Gulfstreams.)

    On Sep 10 03:50 PM Michael Fitzsimmons wrote:

    > one_eye: jimmy carter DID reduce foreign oil imports by 50%. it's
    > fully documented in data. of course, you have no time for real data.
    > another falsehood: i *never* said a transcanadian nat gas pipeline
    > was necessary before embracing natural gas transportation. thanks
    > alot for contributing more misinformation. you must have worked in
    > the bush administration.
    > pramattist: i believe the coal lobby is working effectively against
    > the natural gas transportation legislation. if the coal boys have
    > a choice, they'd rather see electric vehicles win out over natural
    > gas because they know that means more coal consumption and of course
    > more pollution. so, both coal and big oil lobbyists are against the
    > natural gas transportation policies, and this is why it is languishing
    > in congress (small "c"). note boone pickens' email today:
    > "In August alone we imported 355 million barrels of oil and sent
    > $25.2 billion overseas – the most spent on foreign oil out of any
    > month this year."
    > How President Obama, Energy Secretary Chu, congress, Bernanke, and
    > even Geitner can be "agnostic" about natural gas transportation in
    > the face of a monthly bill such as that (note it would have been
    > double that amount if oil were still $145/barrel...) is just amazing,
    > sad, unpatriotic, and unconscionable.
    Sep 16 05:08 PM | 4 Likes Like |Link to Comment