whose portfolio is a sea of red. No need for details, but it would be comical if it weren’t so painful. Many of the percentages are 90+ down. They are way too far down to sell; it wouldn’t be worth it. So I’m holding. And I’m wondering… what are the chances enough of them will ever come back to make me whole, and, God forbid, see some of those windfall profits many of us envisioned investing in the shares in the first place; in troubled times when nothing else (paper/financial assets) seemed worth investing in? What would have to happen to make it so? What about that flood of money into the sector when everyone else realizes the folly of other paper assets? When some of that easy money that’s been created needs a new home? Do you think it will ever happen? I still believe the PM sector is the place to be when it all comes down. What about the shares? What’s your scenario?
ipso_facto @ 11:51 There used to be a lot of people interested in American Bonanza in
Gold Forum days, and I think also in the early days of Posters Paradise on Goldtent. Kerr had their fingers recently in American Bonanza, and now today is the Kerr/San Gold friendly talks. My San Gold shares are currently down 6.7 % on the day, while Kitco lists Kerr as being up 20 % on the day. I have no idea how this is going to shake out. My current choice is to just hang onto the San Gold shares we do hold. Cheers.
As if sea life hasn’t been under enough stress from energy companies mishaps
A message from the leader
Greenpeace
Sign the Petition to President Barack Obama
Posted By: Greenpeace (campaign leader)
Last Friday President Obama’s Administration announced that it has approved the use of seismic testing to explore for offshore oil from Delaware to Florida risking the lives of nearly 140,000 marine mammals. Seismic testing uses sonic cannons to find oil and gas deposits.
The blasts are 100,000 times louder than a jet engine.
This seismic testing poses an imminent threat to endangered marine species including the right whale and the blue whale as well as dolphin populations. Much opposition to this proposal has also come from the fishing industry as seismic testing would seriously impact the fish stocks on which recreational and commercial fishermen depend.
The endangered North Atlantic right whale species, of which there are less than 500 remaining, breeds off the coast of Georgia near the proposed blast zone. Ignoring overwhelming public opposition and the potential for another disastrous oil spill on the East Coast, President Obama approved Mid-Atlantic seismic testing anyway. While the oil and gas industry claim this approval will revitalize the region with new jobs, it is directly threatening the tourism and fishing industries.
Doesn’t anyone in the White House remember the Deepwater Horizon disaster?
President Obama must be deaf to totally dismiss the vocal opposition of Americans after hearing from more than 100,000 citizens, receiving resolutions passed by 16 coastal cites opposing seismic testing, hearing from 50 members of Congress, 160 conservation and animal welfare organizations, the Mid-Atlantic Fishery Management Council and 100 scientists.
The seismic testing is just the beginning of what could be in store for East Coast marine ecosystems. If exploration does result in oil rigs and drilling, it’s simply a matter of time before there is a devastating oil spill.
Although the situation seems dire, we cannot give up. If we’re silent on this fatal approval, we’re letting President Obama believe we’re okay with it.
PGR
RGLD is a good choice ,I use FNV for the same reason ..buy,buy.buy no debt., cash cow ,no employees(almost),no energy costs,NO Labor Costs .
The money just rolls iin and is currently used to rinse and repeat until there are no more deals left than they have FREE CASH FLOWS of BILLIONS ber year to distribute for DIVIDENDS ,buy backs etc..NO DEBT…RGLD ,FNV,SLW ,SAND ….. I see no reason why RGLD,FNV,SLW wouldent sell at 500 /share based on cash flow alone….I been telling that story for 5 years now and few were listineng…..Most people thing they are MINING companies ..thay are NOT !
THey are mining FINANCE COmpanies How would you like to borrow money at $4 per ounce and lend it at $21 per ounce THATS a good LOAN to MAKE !
AND the $4 borrow cost stays the SAME and the Lend COST goes up with the SIlver price …your pay back is unlimited only by the top price for Silver…
You must think different with these companies ..they are not mining operations …they are LOANS !…at enormus interest RATES ! that what you all need to wrap your heads arounnd ! Look and think outside the BOX !
Have you noticed !
Stock Management like IBM last qtr got 93 % of its earnings from Financial Engineering .Borrowing 4 billion in last qtr alone and used it to buy back stock combining that with Flat revenue and FLAT Profits boosted earnings per Share 93 % of which was due to stock buy back alone !
In 2004 Ibm had 13 Bil of debt ,now its 37 Billion ! THis also artifically boosts BONUSES given for getting earnings per share up ! Price Earnings is not telling a true story af the Financial condition ..you must look at Capital Ratios TOTOL Capital to TOTOL DEBT , looks like its close to 1.74-1 and falling ..
It used to Be that 2.5 to 1 was considered OK ..Other big Corporations are getting in on the Bonus Party by doing the same thing..
the BALANCE Sheet tells the Story of modern Financial Engineering. watch those debt ratios climb and be prepared to Get Outta DODGE .
What happins when 37 bil of IBM debt interest cost doubles overnight from 1% to 2%.
BTW that was exactly how Bill Clinton balanced the Country budgets ,Treasury Sec Robert Rubin refinanced most of us debt from 30 years to less than1 year to reduce interst costs and falsly made Clinton look like a hero,balancing the budget .Now what happins to BIG Corp Debt AND BIG GOvernment debt comes due in 30 days and RATE go from 1 to 2 % overnight ! Its going to make 2009 look like a Picnic ! Its not only going to be a GUBBERMENT BUST ,BUT BIG CORPORATE BUST at the same time ! If rates go up 1 % its all over…….
RGLD for trade
Am hoping my manipulator friends can still smack gold $100 but while I’m waiting couldn’t resist small purchase of RGLD – 50 shares. Enough that I’ll feel good taking a 10% profit .. if it drops 10% instead, I can add more.
image from here: http://www.the-upper-hand.com/2011/06/master-manipulators-and-what-makes-them.html
Have been wondering what Malayasian Air did to deserve the “curse” with it’s remotely piloted 777s.
Found the answer from ZH comments…
War Crimes tribunal that convicted Bush, Cheney, Rumsfeld et al
http://en.wikipedia.org/wiki/Kuala_Lumpur_War_Crimes_Commission
So a misslie lands 3 miles from Ben Gurion Airport
… and the FAA stops all US flights into there.
This is what happens when you have a girly-man government.
After Delta Reroutes Flight Into Israel, 5 Other Airlines Suspend Flights To Tel Aviv On Missile Worries
AuShux @ 12:26
I don’t think Kerr is Kerr-Magee. They look like a small company.
treefrog @ 12:06
Richard Russell – War, $10,000 Gold & Worldwide Collapse
SFEG
Finally out of the ditch, got the spare tire on & rolling?
ipso, thanks to you!
Is Kerr part of Kerr-Magee?
Karen Silkwood, Uranium, Govt intrigue?
Just wondering…aushux
treefrog
I fixed it. Always good to hear from Russell.
ipso
the richard russel link below gives me an error message. got another?
got it. try:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/22_Richard_Russell_-_War,_$10,000_Gold_%26_Worldwide_Collapse.html
Moggie
Grandma, that’s a good one. lol Something to say about grandmas phone though lol Like that commercial by ATT it didn’t cost 160 a month for a family of four to use it.
Equisetum
I thought that might interest you. I’ve never heard of the company, Kerr. I guess we’ll find out more.
Cheers
I like this…..
“But– and this is the important point— when a market is as oversold, underloved, and underfollowed as silver, you should actually be expecting some big moves to the upside. Recoveries from the kind of oversold positions we have seen with the white metal are normally vertical in nature– and yes I know everyone is tired of the bullish case, but that is precisely my point. At the exact same time that everyone thinks the bears can’t be beaten, the market turns decidedly bullish. Put differently, when a trade or an investment thesis feels easy it is wrong, and when it is difficult or hard to believe, you should back up the truck.”
ipso_facto @ 9:36. Thanks for news about San Gold and Kerr.
As a long-time San Gold shareholder, I am unsure what this means for the future value of our SGR shares, but the press release makes it sound hopeful. I still like San Gold’s Bissett operations. At present, I know nothing about Kerr’s operations. Cheers. Equiz
Let’s just throw it in the trash heap
In Potentially “Lethal Blow” For Obamacare, US Appeals Court Finds Insurance Subsidies Invalid In Most States
Tyler Durden’s pictureSubmitted by Tyler Durden on 07/22/2014 10:50 -0400
It may be back to square 1 for Obamacare.
Moments ago, in what NBC classified as a “potentially lethal blow to Obamacare” a federal appeals court has ruled that the federal government may not subsidize health insurance plans bought by people in states that decided not to set up their own marketplaces under Obamacare. The law clearly says that states are to set up the exchanges. But 34 states opted not to, and the federal government took over in those states. The court ruled that federal government may not pay subsidies for insurance plans in those states.
As the Hill reports further, the D.C. Circuit Court of Appeals said the Affordable Care Act does not permit the IRS to distribute premium subsidies in the federal ObamaCare exchange, meaning those consumers must bear the full cost of their insurance.
But… they said socialism is for the greater good!?
Coming soon to a bank near you …
Bank Of England Leads Push For Deposit Confiscation – Japan, China, Russia Against Bail-Ins
Posted by Scruffy @ 9:39
They say you get the
government you deserve. If that’s true then most of the people in our countries are idiots. I have no doubt this is true, seeing and talking to the public at large around me. God help us all!
G&S just “done” a swan dive…must be cause the geo-political situation looks so good-ditto the world debt problems
The future’s so bright I need shades…