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  • The Default Has Already Begun [View article]
    Phill - but you were fine when Pelosi and the Senate Dems excluded the Republicans from input on the original Obamacare legislation - right? You remember when they shut them out of input and then passed the bill without Rep vote so we could see what was in it? Tell us why the road only ones one way?
    Oct 15, 2013. 07:56 AM | 39 Likes Like |Link to Comment
  • This Gold Slam Is A Massive Wealth Transfer From Our Pockets To The Banks [View article]
    One simple comment. This is NOT a market. Naked short selling is prohibited - except the co-conspirators don't pursue or prosecute the guilty. This is clearly manipulation and if Lakers or Matt had just had their money stolen by the "gang" they would be yelling loudly.

    Stop to consider that this is all false selling. A naked short creates the IMPRESSION that there is a legitimate seller in the market. In a situation where they were selling equities, they would, in essence be adding "unlisted" stock or "issuing" without a SEC required filing - additional shares into the market place.

    Now stop to consider that in two days, their actions wiped out > $1.2 trillion of market cap on the outstanding stock of gold that is above ground. And now tell me that someone can do that without the permission and direction of the Central Banks and Bullion Banks. I call BS on the whole deal.
    Apr 15, 2013. 10:42 PM | 31 Likes Like |Link to Comment
  • The Disturbing Truth About Silver's Rally [View article]
    Well, I guess that if there is such a surplus, you would think that it would be easy to find physical silver, and that there would never be a shortage of planchettes to make US silver eagle coins at the US mint. Despite this alleged surplus, there have been, if I recall correctly, 3 instances in the past 2 years where the US mint has halted production of sliver eagles.

    Mr. Basenese knows a little about the market from GFMS but then I have never really put lots of faith in GFMS. He doesn't consider the fact that silver is held in limited quantities by investors in general, and that a modest investment in silver by a small percentage of investors will continue to support demand.

    Finally, I guess the author doesn't put much stock in the idea that the dollar is ultimately doomed, and will ultimately become that point, how much silver would he like to own.
    Apr 15, 2011. 06:56 AM | 29 Likes Like |Link to Comment
  • Wall Street Breakfast: China PPI Slumps For 34th Straight Month [View article]
    I just looked - yesterday - at salaries of "state" employees at local university. More than a dozen professors making more than...wait...wait...wait some more...$1 million a year. With a second tranche of dozens making more than $0.5 million a year.

    I also decided to check out such innocuous positions as county mosquito abatement chiefs in little counties that have populations of less than 100,000 people. Well there are more than a handful that make more than $100,000 a year.

    Local fire chief - nearly $200,000 a year.

    Battalion chief's - nearly $160,000 a year

    Transit authority chief - over $500,000 a year.

    Governor's office. Multiple who make over $200,000 (actually get paid more than the governor).

    Principals at schools - all over $100,000. Same with assistants.

    I could go on an on an on. It was totally insane. BTW - I live not California. Not Illinois. I live in UTAH.
    Jan 9, 2015. 09:16 AM | 27 Likes Like |Link to Comment
  • Ron Paul Has It Totally Backwards, Gold Isn't Going To Explode Higher [View article]
    "I'm not an expert in gold, I don't own gold, I wouldn't recommend gold, I don't know how to value gold but I have taught, practiced and studied finance and economics for over 30 years."

    No... you are not an expert in gold. And the fact of the matter is you are anti-gold. So, it won't particularly matter what happens to gold, you will be silent if it hits $2500 and outspoken if it hits $1000.
    Aug 16, 2013. 11:54 AM | 25 Likes Like |Link to Comment
  • QE3: The Fed's Faustian Bargain For The U.S. Economy [View article]
    And, IMHO, the MBS portion of QE was only ever initiated to keep the banks solvent by giving them an outlet to dispose of their junk.
    Aug 15, 2013. 12:07 PM | 24 Likes Like |Link to Comment
  • Gold Takes Out Major Support: Next Stop $1,350 [View article]
    Come on MIke..... we all know gold price was pegged until 1971. You can't use 200 year timer frame when one of your contestants wasn't even fighting. As soon as I saw that typical mistake, I stopped reading and jumped to the comments. Retry your calculation from 1971 on.
    Apr 3, 2013. 07:39 PM | 22 Likes Like |Link to Comment
  • Precious Metals - The Day Of Reckoning Is Coming Soon [View article]
    Alexander - "Crazed" are you serious. That's simply a crazy remark. BTW, what is your definition of a "gold bug". I would challenge you to articulate one. What does a gold bug do? How do they invest? How much gold do they own? What portion of their holdings do they hold in gold? Why do they own gold? Why do people invest in GLD? Does a gold bug invest in GLD. Does a gold bug trade physical metal? Do they trade gold derivatives? Do they own other precious metals? Are they informed about world events?

    BTW - are there such things as "anti-gold bugs" - like people who don't own gold but feel like they just have to respond to every gold related article on Seeking Alpha with a negative comment?

    Are Central Banks gold bugs? Why do they feel the need or desire to own gold? Don't you think it the height of hypocrisy that a Central Bank, whose primary method for influencing monetary policy is focused on fiat currency, feels the need to own gold, trade gold swaps/futures, etc.?
    Nov 24, 2014. 01:34 PM | 21 Likes Like |Link to Comment
  • When Should We Aid Detroit? [View article]
    Here's an article on a retired teacher pulling down $400,000 a year in pension pay. You read it and figure out how that works? Then tell me why any public/government employee should make 8-10x more in retirement pay than my wife and I will make in Social Security?

    The only ones who can "justify" public pensions are the recipients and the politicians who gave it to them in the first place. Tell my how you get a "guaranteed" 3% COLA on such a pension? Where's that come from? It all comes from mismanagement of the public trust.
    Jul 29, 2013. 06:55 PM | 21 Likes Like |Link to Comment
  • Why Commodities Crashed [View article]
    Mr. of your premises is that the bond market yields came down and signaled a disparity in the silver market. Would you care to comment on the idea that the Treasury/Fed is selling puts on treasuries to fundamentally ensure that investors in Treasuries will not lose money.

    You certainly understand that the US is desparate to fund it's massive deficits and it's roll over of maturing debt. You certainly understand that there is no relief in sight for zero interest rate policy. You certainly understand that the Treasury/Fed cannot tolerate a "market" driven interest rate that will drive the cost of funding the government into oblivion. That being said, perhaps its believable that an engineered take down of the Precious Metals complex could be started by the simple sale of 2000 silver futures contracts on the Globex market on Sunday evening while the whole world slept and while most anticipated not even having to get up to go to work on Monday.

    "Inevitable" is not a word I would use. Predictable is a more accurate word if you talk about central banks and global banking organizations.
    May 10, 2011. 03:36 PM | 21 Likes Like |Link to Comment
  • Did the Silver Bubble Just Go 'Pop'? [View article]
    Because most people don't own silver stocks, or silver or gold for that matter. Most people own....debt.
    May 1, 2011. 11:43 PM | 21 Likes Like |Link to Comment
  • Former GE CEO Jack Welch rips Pres. Obama's support for a millionaire's tax as "a transfer payment. You take it from one pan, put it in the other. It doesn’t work." On the administration: "They are spenders... They don’t believe jobs come from the private sector. They believe government creates jobs."  [View news story]
    The government has created a lot of jobs......government jobs.....that's why we have $1.5 trillion deficits. What we need is FEWER government jobs.
    Oct 6, 2011. 06:09 PM | 20 Likes Like |Link to Comment
  • Did the Silver Bubble Just Go 'Pop'? [View article] PM over the last 10 years to Dow, and who's the winner? Let's see, silver just popped down to 44. But it's up from what $7, $8...depending on when you pick to start. If you are 12x does it matter if you drop $4?
    May 1, 2011. 11:47 PM | 20 Likes Like |Link to Comment
  • Can We Ever Really Retire? Why Americans Stink At Math [View article]
    The "average Joe" isn't planning at all - unfortunately. Either they are incapable, don't care, or just to depressed to even consider that their retirement will be supported, almost universally, by Social Security ONLY.

    My wife and I will both be able to receive Social Security. That will help, but, I plan on it to pay the bills including health care, and I look to savings/investments to provide any "lifestyle" enhancements.

    I wish there was a way to package up the potential sense of despair that so many must be feeling as a Social Security only (insecurity) life style and force every kid to drink it routinely starting from the day they entered High School.
    Jul 29, 2014. 12:27 AM | 18 Likes Like |Link to Comment
  • How Obama's 'MyRA' Plan Will Impact The U.S. Economy [View article]
    Sorry - the real motivation for the creation of a MyRA infrastructure is to FORCE people to invest in US Treasuries.

    Just wait, Treasuries will, over some period of time, become the preferred and then the only method of investing in a government "approved" retirement account.
    Jan 31, 2014. 05:27 PM | 18 Likes Like |Link to Comment