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

Posted by WANKA @ 12:39 on October 22, 2015  

 

One of the more unfortunate developments in human civilization over the last century is the devolution of money.
If you are having trouble viewing this email, or you’d like to share this article with your friends, click here
nftflogo.png
October 22, 2015
Milwaukee, Wisconsin

One of the more unfortunate developments in human civilization over the last century is the devolution of money.

In fact, the word ‘money’ has now become synonymous with those funny pieces of paper that are conjured out of thin air by unelected central bankers.

Or even more ridiculous, ‘money’ has become the electronic representation of that paper.

Think about your bank account balance; it’s not like the bank has all that paper currency sitting in its vault.

The ‘money’ in your account doesn’t even really exist. There’s just enough of a thin layer of confidence in the system (at the moment) that this is a widely accepted practice.

It seems rather strange when you think about it. Though for thousands of years, early civilizations had some pretty wild ideas about money.

There are examples from history of our ancestors using everything from animals skins, to salt, to giant stones, as their form of ‘money’.

Though I suppose these weren’t any more ridiculous than our version of money– pieces of paper that don’t even really exist, controlled by unelected central bankers.

Of course, over the last 5,000 years, there was at least one form of money that did make sense. And it stuck. I’m talking, of course, about gold.

It’s no accident that gold has become the most consistent form of money in world history.

The metal is uniquely suited to serve as currency, not only amongst precious metals, but compared against nearly everything else on the planet.

You can see for yourself by taking a look at the periodic table of elements, the scientist’s catalog of everything the world has to offer.

Many of the entries on the periodic table are immediately disqualified. Many elements are radioactive. Others are gasses that would be impossible to transport.

Still others are colorless, and hence indistinguishable from air.

Taking these out eliminates most of the list, and you’re left with just a few dozen metals.

Most of these, however, like copper or iron, can be easily eliminated as well. They’re simply too common. And a form of money is useless if its in too much abundance… a lesson that modern central bankers have completely forgotten.

Others (like cesium) are highly reactive and explode on contact with water, or at least corrode easily.

Clearly a currency that kills its holder, or can’t even maintain its physical state without debasing itself, is rather useless.

Even silver, which nearly passes every single test falters at the last point, because it tarnishes slightly in reaction to sulfur in the air.

So out of all the elements we’re left with just one that’s just right: gold.

Gold is inert and non-reactive. It’s stable. It holds its form over the long-term. It’s malleable and easily divisible. And it’s rare. But not too rare.

Judging by its chemical properties, it’s no accident that gold became the most widely-used currency in history.

Of course, defenders of the paper money concept call gold a “barbarous relic”, suggesting that it has no place in modern civilization.

(Curiously, paper is also relic from long ago, dating back to the 2nd century AD in China…)

Yes it’s true that gold is a very old concept. But so is the wheel. Language. Arithmetic. And many other ideas passed down from the ages.

Just because something is ancient doesn’t mean it’s not RIGHT.

Empires rise and fall. Governments and central bankers come and go. Paper currencies lose their dominance.

But gold lasts.

And if you hold a long-term view, and believe that the path to prosperity is not paved in debt and money printing it makes sense to consider holding at least a small portion of your savings in the metal.

Until tomorrow,
Signature
Simon Black
Founder, SovereignMan.com

 

Wow

Posted by Buygold @ 12:31 on October 22, 2015  

DOW up 300 pts. absolutely no rhyme or reason. Although it has broken above its’ 200 dma according to ZH

That’s what happens in a real market, buyers come in on upside technical breaks.

and then there’s pm’s….

this gets spookier all the time- Back to the Future

Posted by eeos @ 12:17 on October 22, 2015  

https://www.washingtonpost.com/news/the-intersect/wp/2015/10/20/a-youtube-video-claims-back-to-the-future-predicted-911-and-that-isnt-even-the-weird-part/

Well samb

Posted by Buygold @ 11:50 on October 22, 2015  

Can’t say I blame you, like they always say, you can’t go broke taking a profit.

The 200 dma seems to have turned into resistance again. Doesn’t look like it will get broken any time soon.

I have some cash from a property I sold to invest but I’m too scared to jump in right now.

Another Money Saving Reversal: Weigh Options Before knee Replacement

Posted by Mr.Copper @ 11:40 on October 22, 2015  

part:
“Medical experts advise trying other things before considering surgery, such as weight loss, physical therapy, exercise and medicines, and many studies show these can help.”
“Complications were more frequent with surgery, including several serious deep vein clots, a fracture and a deep infection. And other studies show that surgery “is not universally successful,” and that 1 in 5 patients still have some pain six months later,”

http://www.pressreader.com/usa/texarkana-gazette/20151022/282071980753475/TextView

Comment:
It’s Chinas turn now for excessive unneeded expenses, and pollution controls. They can now afford to consume themselves instead of us. The USA can’t afford it anymore.

Well, I bailed out.

Posted by Samb @ 11:36 on October 22, 2015  

Sold half my calls on rebound Tues and now the other half. Pretty pathetic if Gold couldn’t even break above $1200. I use mostly weekly charts and they still look OK, so I jumped my own signals. What spooked me was the Monday hit and the daily charts showing SLW to have rolled over. I guess better safe then sorry.

Another Reversal, Congress proposes giveaways to auto, trucking industries

Posted by Mr.Copper @ 11:25 on October 22, 2015  

parts:
“be made up of officials from industries the agency regulates. That could “seriously undermine NHTSA’s efforts to ensure safety,” Rosekind said. “Ultimately, the public expects NHTSA, not industry, to set safety standards.”

“The bill would also give automakers a break on greenhouse gas emission and fuel economy requirements”

“Manufacturers would effectively get “a pass on pollution” for”

“There’s also no increase in money for NHTSA to hire more staff to investigate potential safety defects and oversee automakers despite testimony that the agency doesn’t have enough people to follow up on safety complaints.

“The agency “just doesn’t have the capacity to do its job,” said Joan Claybrook, a former NHTSA administrator” (note over protective affirmative action female in charge)

http://hosted.ap.org/dynamic/stories/U/US_HIGHWAY_SAFETY?SITE=ILBLO&SECTION=HOME&TEMPLATE=DEFAULT

Comment:
The prior system was a mistake that led to the financial crisis on ’08. Reality is slowly returning. Our neighbors have no business telling car manufacturers how to build cars, when they themselves never even made a lamp in high school wood shop.

Many unneeded and very costly occupations will be eliminated gradually out of necessity. Volkswagen cheating on pollution controls was another sign of unfair laws or regulations. In NY we have a 55 mph law, everyone is going 70mph. People are ignoring instructions from idiots in high places.

scruffy 08:04…and so far the winner is….

Posted by WANKA @ 10:30 on October 22, 2015  

obterrorists
:mrgreen: wj

Buygold

Posted by ipso facto @ 10:22 on October 22, 2015  

Yes a good day indeed my friend. $1170 🙂

“why is the SM up so much”

Helicopter money forever?

Ipso

Posted by Buygold @ 10:10 on October 22, 2015  

I’d say this is a really good day if it holds up, especially with the USD so strong. I’m still worried about all those commercial shorts looming out there, they never seem to lose and we have a Fed Meeting next week.

Leading Economic indicators missed down -0.2% which makes sense for a slowing economy.

Syria with Assad was just fine before we started meddling, just like Iraq and Libya.

Can’t for the life of me figure out why the SM is up so much.

Greenpeace to keep coal in the ground by buying some of Europe’s largest mines

Posted by ipso facto @ 10:04 on October 22, 2015  

In a seemingly shocking move, environmental group Greenpeace has announced it plans to acquire coal mines and power plants owned by Swedish utility Vattenfall, in eastern Germany.

But what the watchdog really seeks by buying such assets, one of Europe’s largest coal mining operations, is to transfer their ownership to a charitable foundation, paid for by Vattenfall and the German and Swedish governments, that would oversee the gradual closure of the coal field and six attendant power plants.

more http://www.mining.com/greenpeace-to-keep-coal-in-the-ground-by-buying-some-of-europes-largest-mines/

Cretins licking their lips

Posted by ipso facto @ 9:58 on October 22, 2015  

Venezuela ready to dump 80 tonnes of gold

With $5 billion in debt payments due before the end of the year, Caracas could be close to dumping more than 3 million ounces of its bullion reserves on the market

Venezuela’s economy has been devastated by the drop in oil prices which came on the back of years of financial mismanagement by the quasi-socialist government of the Latin American nation.

The next two months is crunch time for Venezuela with more than $5 billion in maturing debt and interest payments due before the end of the year.

Venezuela’s foreign exchange reserves are at a 12-year low as hard currency becomes scarcer and shortages of basic goods stirs up anger inside the country.

While its reserves total $15.35bn, less than $500 million are “liquid reserves” says a new note by Barclays reported by the FT “with the remainder in gold and borrowings from the IMF. All of which means Venezuela could find itself in a $10bn hole this quarter.”

Venezuela has the world’s 16th largest hoard of gold. At 361 tonnes as of the start of October the bullion represents 67.3% of the country’s reserves.

more http://www.mining.com/chavez-gold-repatriation-blows-up-in-venezuelas-face/

Buygold @ 9:38

Posted by ipso facto @ 9:54 on October 22, 2015  

We ARE opening well. Perhaps this little sell off is over and it won’t morph into the usual ball breaking, spirit destroying decline. Fingers crossed!

Personally I don’t give a fig if Assad stays in power. Are we going to risk destroying the Earth to get rid of him?

Low capital, operating costs for McEwan’s Gold Bar following feasibility study

Posted by ipso facto @ 9:47 on October 22, 2015  

TORONTO (miningweekly.com) – A feasibility study conducted on Toronto-headquartered McEwen Mining’s Gold Bar project, in Nevada, reports that low capital and operating costs and a reasonable rate of return in the current price environment, increase the likelihood that the project will become the company’s next new mine. Prepared by SRK Consulting, the study found that for an expected capital cost of $60-million, using a base case scenario of $1 150/oz of gold, the 100%-owned project would generate an after-tax net present value, at a 5% discount rate, of $30-million, with the internal rate of return stated at 20%. “Completion of this feasibility study is an important milestone. I believe Gold Bar will be the next mine we put into production. It includes the fundamental elements we consider important to investors when building a mine – low capital and operating costs, and a reasonable rate of return in the current price environment. We can now move ahead with a high degree of confidence in the capital estimate and projected operating performance,” chairperson and chief owner Rob McEwen advised. The Gold Bar project would produce gold at an average rate of 65 000 oz/y over the five-year mine life, with costs estimated to average $728/oz. The project would break even at a projected gold price of $995/oz. The operation would comprise an owner-operated openpit mine, with run-of-mine oxide heap leach processing. Gold Bar would produce 13-million tons of ore over the life of the operation, grading 1.1 g/t on average, and 325 000 oz of yellow metal. The average strip ratio would be 5.2.

more

http://www.miningweekly.com/article/low-capital-operating-costs-for-mcewans-gold-bar-following-feasibility-study-2015-10-21

Ipso

Posted by Buygold @ 9:39 on October 22, 2015  

Couldn’t agree more. We need to get the hell out of there. Unfortunately I’m afraid we won’t.

Ipso – new poll

Posted by Buygold @ 9:38 on October 22, 2015  

A lot of bulls here at the tent, so strange for a gold website.toon2n

We’re opening pretty well considering the USD strength

Leading indicators and existing home sales come out in about 20 minutes. Leading indicators could be interesting.

Buygold @ 9:30

Posted by ipso facto @ 9:36 on October 22, 2015  

Time for the US to take a step backwards. That is true crazy talk from Qatar.

Maya @ 9:20 on

Posted by ipso facto @ 9:33 on October 22, 2015  

Wow! That train’s gotta be from the era of giant tail fins on cars! 🙂

New Poll

Posted by ipso facto @ 9:31 on October 22, 2015  

Vote Vote!

Crazy stuff – all over a gas pipeline? Have to wonder if the people of these countries want more war.

Posted by Buygold @ 9:30 on October 22, 2015  

http://www.zerohedge.com/news/2015-10-22/proxy-war-no-more-qatar-threatens-military-intervention-syria-alongside-saudi-turkis

 

Let’s just be clear. If Saudi Arabia and Qatar start bombing Iranian forces from the airspace near Russia’s base at Latakia, this will spiral out of control.

Iran simply wouldn’t stand for it and if you think for a second that Moscow is going to let Saudi Arabia fly around in Western Syria and bomb the Iranians, you’ll be in for a big surprise. Of course the first time a Russian jet shoots down a Saudi warplane over Syria, Washington will have no choice but to go to war.

Finally, we’d be remiss if we didn’t point out the absurdity in what’s being suggested here. Qatar and Saudi Arabia are essentially saying that they may be willing to go to war with Russia and Iran on behalf of al-Qaeda if it means facilitating Assad’s ouster. The Western world’s conception of “good guys”/ “bad guys” has officially been turned on its head.

And meanwhile:

Russian President Vladimir Putin’s public approval rating has reached a record 89.9 percent since he ordered his military to begin air strikes in support of Syrian leader Bashar al-Assad, according to a state-run polling center.

 

Silver Train

Posted by Maya @ 9:20 on October 22, 2015  

folder_xing1

From the futuristic past… the GM Aero Train. It
was a flop with the railroads and commuters that
rode it… “like a bumpy bus ride”
http://railpictures.net/photo/551054

 

Good morning Oasis

Posted by ipso facto @ 9:01 on October 22, 2015  

Minera IRL Limited Provides Corporate and Operational Update

http://finance.yahoo.com/news/minera-irl-limited-provides-corporate-220300534.html

Teck Resources reports quarterly loss on C$2.2 bln charge

http://finance.yahoo.com/news/teck-resources-reports-quarterly-loss-091409517.html

Kootenay Reports Positive Results and High Recovery Rates from Preliminary Metallurgical Work Conducted on La Negra

http://finance.yahoo.com/news/kootenay-reports-positive-results-high-100000545.html

Freeport-McMoRan Reports Third-Quarter and Nine-Month 2015 Results

http://finance.yahoo.com/news/freeport-mcmoran-reports-third-quarter-120000760.html

Comstock Mining Announces Third Quarter 2015 Results

http://finance.yahoo.com/news/comstock-mining-announces-third-quarter-120100317.html

Maddog

Posted by Buygold @ 8:53 on October 22, 2015  

Absolutely right. Those numbers were leaked, I saw the exact same thing 2 minutes before.

No idea why the USD is rallying so much. Draghi must be saying something to kill the Euro.

The whole USD index system is such a fraud.

exactly Maddog

Posted by eeos @ 8:42 on October 22, 2015  

more on Schiff for fun

eeos

Posted by Maddog @ 8:36 on October 22, 2015  

The numbers were leaked, it all started moving at 28 past…..2 mins before the release !!!!

Gotta pay for all those hookers and blow somehow !!!!!

« Newer PostsOlder Posts »
Go to Top

Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.