OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

I was hoping that maybe Goldi or another would venture an opinion. However, once you put that Felix wanderer up, I surrender. Buried in Fully’s rebuttal posts was this simple statement: I’m paraphrasing: I was shocked that less then 5% of the Tenters subscribed to Rambus Chartology. Think about that: Fully had a new (hidden) business venture and the bulk of the Tent rejected his pumping and advise. He was on to a new major adventure and we rejected him. He then simply rejected us.

How low can the Limbo stick go…..

Of course this shall be given. However, it is a possibility that another tenter or  two will venture forth and offer their [you see, e before I on their] opinion. One small statement, one MAJOR rejection; That was it, that was just too much…than out came the middle finger. No more postings, no more polls, no more IT support. What was the last straw that broke the camel’s back?

That explains it all. Yes, the one simple truth that caused him and AU Dept to abandon the tenters.  Buried as it was throughout his rants it was the final last straw regarding you unwashed, ungrateful, ignorant, negative tenters.  Guesses are free.

re part:
“1. We are advised to NOT judge ALL Muslims by the actions of a few lunatics, but we are encouraged to judge ALL gun owners by the actions of a few lunatics. Funny how that works.”

Comment:
Hear hear! That’s a very good point. Below some related info…

Part:
Former New York City Mayor Michael Bloomberg is on an all-out mission to buy the U.S. Congress so that Barack Obama can destroy your freedom.

Bloomberg recently declared he will spend an unprecedented $50 million this year on his scorched-earth mission to purge pro-freedom leaders from Congress and replace them with his hand-picked, anti-gun politicians.

And if patriotic Americans like YOU don’t take immediate action to stop him, he’ll get away with it.

You should write a book someday, “Secrets of a Wise Ole Reef Dweller.” 🙂

No signs yet of the fast flying grape crusher, so I think it is safe to leave the bomb shelter and go for a walk in the park.

Keep it safe and happy on the reef, back later, Farmboy

You got that all right. Easy and done or it turns into a lie that gets bigger and bigger as time goes on. On the other hand, if you are RIGHT but others think you are wrong, hold to your principles and don’t let them coerce you into making a false confession to get them off your back. Inside us all is that tiny voice that guides us on the right path. Listen to it and act accordingly and you become stronger and able to withstand false criticisms just as easily as confessing when you are wrong. IMO!

I was giving some thought to what Ororeef posted earlier (Ororeef @ 11:12 ) and admiring how well he summed up the issues with today’s banking system, which in almost no way compares to the banking we had 30-40 years ago. If ever there was a haven for maleficence, corruption, and deception it is the current mega banks which have lost their humble beginnings and shredded the common sense and values of yesteryear. They resemble nothing  of their past and have become breeding grounds for corruption and greed like the world has never seen. And it has succeeded in pervading many of those elected ones who are suppose to provide over sight and fiduciary responsibilities.

In short, I think one can summarize, get to the root of the problem, by simply acknowledging that many have fallen victim to the ageless ghosts of greed, power, and corruptibility. We have lost our ‘moral compass’, our values, and have traded them in search of more money, more fortune, usually at the expense of others, and doing what is right.

And until we begin to hear from their lips, ” I Was Wrong…” I hold little hope of any major constructive changes. That would apply to our elected ones, the leaders of Wall St, and down to even myself. To be wise enough, man enough to admit the wrong, make the required changes to correct the wrong, and set about making amends for those we have wronged. Far easier to ignore the wrong, place blame on everything and everyone else under the sun,  than to overcome our ego and pride, and simply, but honestly admit, that “I Was Wrong.” So the game of deception moves on towards it’s miserable end. And it always ends miserably.

As I see it, it is not which laws are passed, or not passed. Our future is based on more than that, it is simply when do we as a nation and individuals let go of some ego and pride, and utter those three words. If that ever happens, then the healing will begin.

And there you have my reflective thoughts of today, Best, Farmboy

If by GGN you mean the Gamco fund …

Yep, that’s the one. First heard about this one last year from the Casey gang. I liked the idea immediately .. produces some income from gold and also gives energy exposure. Haven’t checked the break down recently, but last I checked, it was 41% metals; 46% energy. Likely the biggest risk right now to the price is if they cut the dividend again.

http://www.bloomberg.com/quote/GGN:US

If by GGN you mean the Gamco fund, which I do own now and have owned from time to time – some would not like the idea that their dividend stream is based on covered calls that they write on their natural resource positions some of which are gold stocks.  I like the fund as an income stream in our tax free accounts.

aurum

added – however it looks like my stops may be hit today.  I have owned GGN on this round for about 1 year.

Watch the DOW MACD on the monthly. When it crosses to the downside that will spell the doom of the DOW for a couple of years.

Conversely, HUI’s MACD on the monthly chart has already crossed to the upside, indicating years of bullish activity.

Added to both positions today SWC and GGN

With PMs down, oil down, stock market down, it’s a good test to see what’s strong, or not.

As I type:

SLW -1.1%

GGN -1.6%

FNV -1.6%

AG  -1.8%

RGLD -2.6%

SWC -10.0%

I think Pasuca Lama will get built eventually … but not until the world’s economies are worse off and gold is much higher. Then governments will be desperate and that’s when it’ll be built. JMO

http://stockcharts.com/h-sc/ui?s=KER.TO&p=D&yr=0&mn=1&dy=0&id=p14490920961

A big man admits his mistakes, a small man tries to hide them!! Looks like we need a giddy-up today!!

if this is the start of a SM correction, it is definitely not the way I was hoping pm’s would react. Especially after already being in a 3 year correction.

Yen is starting to catch a small bid as are bonds. Makes sense.

Its because the of Leverage employed ,the Credit system,the Fractional Reserve currency…and questionable insurance!

These Banksters need to have some skin in the Game ,everything can’t be “other peoples money” .

For Years Swiss Bankers never had deposit “insurence” why ? the Banker was held personally responsible !

Bank failures were nil..Under the pretext of protecting depositers ,they made the depositer pay for the Insurence in the form of lower return on his money held. How about getting some “return insurence” ? With the “insurence, Bank managers felt they could take any risk because the depositer wouldent ask for his money back and was willing to lend longer…This removed the Bankers old delemma of Lending “LONG “and borrowing “Short” ..For those of you who dont know what that means  any banker who lends money for “Long term “is at RISK of being squeezed if his depositers only lend to him for “short” duration.He is very much at risk if a scare developes that makes run to the bank for their money ..known as a “RUN” on the Bank…So they thought they solved that problem with “insurence” and people didn’t scare so easlily.

Along comes the OLDE Gold storage racket .Years ago when gold was used as money currency people left on deposit at a local gold dealer who issued a receipt that was as good as Gold because you could always go back with your receipt and redeem your gold !.

Then the storage guy got a “bright idea” one day ..He noticed the people were feeling so secure that only about 5 % at any given time would come in to redeem their Gold.  SO he figured he could counterfeit additional receipts on the same Gold and use them himself to buy and sell for his personal use !..Dishonest ,but it worked  as long as the “confidence “kept them from demamding their Gold.This was the original “Paper money” the “Gold receipts”. Carried to extreme today Bankers have only 10 % cash on hand to make redemptions ..the rest the Banker can do what ever he wants to do..make loans and get additional income ,give himself a raise ,or burn it if he wants to…just so he don’t refuse anybody that wants his money…Insurance made this all possible .Some banks broke rules and lent 95 % out,some 100  %..leaving the only reserve in the bank was the Sticker on the Bank window that said “FDIC” insurance.Of coarse some of those banks failed …In the end too much leverage was used the Banks are not making as many loans as they would like so why not make them more solvent by raising the reserve requirement to 20 % and remove the incentive for them to gamble on Wall st with your money !

Better yet why not restrict them to making loans period …forcing them to lend to business improve main st ,and manufacturing liquidity and earn their keep by making loans and stay out of the Wall st Casino.Thats what Glass Steagal bill did after the Crash of 29..

But NO !  along came Gramm,Bliley bill that did away with Glass Steagal and put us back in the Casino with depositers money ..

How did this happin that TWO “ARCH Conservatives”sponser” such a thing and bring about a whole new Financial crisis….

Was it corruption or just plain Stupidity ! Two congressman one from Texas ,one from Virginia two of the MOST conservative states were duped or drank the kool-aid of Liberal mentality of corruption and sponcered Gramm Bliley bill…

They even corrupted the Insurance Giant AIG who insured liar Loans.!   Corruption is the likely source .! and Personal responsibility for Loans …the cure ….NO insurance for Corrupt loans made by Banksters, but personal; liability instead and the cure includes Jail time ! .Raise reserve requirements, and Separate Commercial and Investment Banking.Buy us another 50 years of peace and prosperity without Crashes…

Barrick mothballs Pascua-Lama

I imagine that’s a factor … also the international situation … also the fact that the SM is way overdue for a correction (at least)

Chicago PMI Collapses To 13-Month Lows, Biggest Miss On Record
Submitted by Tyler Durden on 07/31/2014 09:55 -0400

Chicago PMI Cognitive Dissonance headlines Lehman recovery

We warned last month that under the covers Chicago PMI looked a lot weaker than the headlines and this morning’s collapse confirms that. Against expectations of a small rise to 63.0, Chicago PMI plunged from 62.6 to 52.6 (13-month lows) for the biggest miss on record. According to the release itself, “A monthly fall of this magnitude has not been seen since October 2008 .” The was an 8 standard-deviation miss from analyst expectations (Joe Lavorgna was on the high side at 63.0). New orders, inventory, production, order backlogs, and prices paid all dropped (but employment rose?). This is the biggest 2-month drop since Lehman (and 2nd biggest since 1980). We await the seasonal adjustment “correction” as MNI get the call from Yellen.

This is the biggest 2-month drop since Lehman (and 2nd biggest since 1980).

The breakdown:

Forecast range 60 – 65 from 47 economists surveyed
Prices Paid fell compared to last month
New Orders fell compared to last month
Employment rose compared to last month
Inventory fell compared to last month
Supplier Deliveries rose compared to last month
Production fell compared to last month
Order Backlogs fell compared to last month
Of course, very quick damage control was needed and sure enough:

In spite of the sharp decline this month, feedback from purchasing managers was that they saw the downturn as a lull rather than the start of a new downward trend. This was especially so given the recent strong performance and the fact that Employment managed to increase further in July.
Cognitive dissonance much? Because at the same time:

Nonetheless, following a strong Q2, this was clearly a poor start to Q3 and as such tempers some of the increased optimism in recent months. Production’s large decline in July left the indicator barely in expansionary territory and at a two year low, although this followed a very strong run with output above 70 in June. New Orders, the most heavily weighted component of the barometer, saw its biggest monthly set back since November 2013. Order Backlogs, which have expanded in every month since last October, fell into contraction in July.
Also, kiss the inventory-driven GDP expansion goodbye:

Growth in inventories eased in July from a seven month high in June, while Prices Paid fell for the second consecutive month but remained well above 50.
In conclusion:

Commenting on the MNI Chicago Report, Philip Uglow, Chief Economist at MNI Indicators said, “The surprise fall in the Chicago Business Barometer in July, following a strong second quarter, naturally raises questions about the sustainability of the recovery. Some feedback from panellists points to this being a temporary setback, although we’ll need to see the August data to judge to what extent this is a blip“.

at least some of the shares are responding well to good news.

Still think we have a shot at making a comeback today. Never know.