Just cleared from tray
Sent from my iPad
On Feb 28, 2013, at 12:35 PM, M wrote:
Very - after reading John Williams' latest:
shadowstats.com
SNIP:
Based on the same official GAAP numbers , the federal government’s
total obligations as of September 30, 2012, stood at $85.4 trillion,
or 5.5 times the level of fiscal-2012 GDP. The GDP, though, is not
that meaningful a measure here, other than it gives some perspective
to the magnitude of the government’s annual deficit and total
obligations.
As can be seen in the accompanying table, the consistent GAAP -based
annual deficit for the U.S. government
has averaged $5.2 trillion per year for the last five years, an
average annual deterioration equal to 36% of average annual GDP,
during the same period.
As discussed in Hyperinflation 2012, even with the government seizing
all salaries and wages, taxes simply
could not be raised enough to bring the system into balance for one
year, let alone for future years.
On Thu, Feb 28, 2013 at 12:25 PM, J wrote:
C and m, stop w/ the sexy talk that is predicated on planetary zero-state monetary hard-boot reset which would have side effect of triple-water-fall repricing of some assets, and ramping value of other counter-assets.
We are fortunate to be able to experience and learn, and hopefully not lose.
Any one feeling confident?
From: CDate: Thu, 28 Feb 2013 11:31:21 +080Subject: Re: Comments - Week of February 25 - gold chronicle
Until too many people do that one day and they fail to deliver.
Which is a risk that becomes more apparent from time to time and the market then goes into backwardation
C
On 2/28/2013 8:58 AM, M wrote:
You do have to wonder why anyone who wants to buy a significant chunk of gold would buy in the physical market.
Simply buy in the futures market, take delivery, and store in favorite safety deposit box.....
M
On Wed, Feb 27, 2013 at 8:55 PM, J wrote:
M, have been cooped up in the shangri-la hotel lounge working for three days on closing the new south wales antimony/gold deal; today being the last of the three days. Hard close is next Wednesday or nothing except chalking one up for the experience.
Starting tomorrow i really must focus on the biz plans of the queensland gold mine/mill venture as it is about to pour. It is fun where one's call-of-duty work is one's true love.
Also must do the first iteration of our tasmania gold/silver tailings project that is already fully paid for and must be worked on and worked out. The flow of gold from queensland shall be marginally diverted to keep alive the tasmania gold/silver tailings.
The nsw antimony/gold is a slice apart, as it is jv-ed, and back-stopped even though we are not our own master there any more. Cannot say I like it, but no choice because no wallet.
Another reflection-learning eureka moment, just this day, that gold projects are different from other projects, including most venture capital / private equity funded initiatives, in that with gold, one's operating troubles mostly end w/ gold pouring forth, whereas in other businesses Inez's heartaches mostly begin with the production of whatever widgets or any base material resources.
in the mean time, a friend has highlighted to me a site where the bugs can view choice porn
eBay was allowing buying and selling of gold coins thru an outfit called APMEX.
Transparant bid-ask, volume discounts,
Pay by PayPal (preferred) or credit card, or cashier's check
ebay.com
See
10 Gold 2013 Panda available at $1,753.58
ebay.com
The prices for the physical bears little resemblance to the value of the paper, so either
- paper gold is not physical gold
- or the former is under-valued relative to the latter
On Feb 27, 2013, at 5:55 AM. J wrote:
Qe fume has progressively less efficacy, and reality shall hit w/ more frequency, even as the dark pools of false money roam the speculation arena picking off the to-be victims. Volatility is supposed to rule if zirp, and to kill, and is.
Soon enough we shall disembark from the wonderful mass psychosis dream state of simply is and enter the shall-be arena where the negative for any shall no longer be any conceivable positive for any other.
We pray to prey, so as to feed and pray more sincerely
________________________________
From: T
Date: Tue, 26 Feb 2013 15:16:10 -0500Subject: Re: Comments - Week of February 25
Interesting day for gold in that usually it is down when Bernanke is giving a performance. And today was a bit more interesting in that I do not recall seeing Bernanke as irritated as this in any previous Humphrey-Hawkings.
Here is a short clip, but I suggest watching as much of it as you can. I think it is record for the highest number of pure lies ever told by Bernanke in a single sitting (I kid!). Notice how fast the Fed was out in force last Friday after just two market down days?
fedupusa.org
On 2/26/2013 12:30 PM, I wrote:Celebrity advisers can cost investors a lot of moneytheglobeandmail.com
On 2/23/2013 8:42 PM, d wrote:
Mache is now 2x price it was 1-2 yrs ago at Great, and recently asparAgus prices up20pct across all supermarkets in HK. Looking at 1 French carrot at 2 us dollars...Japan carrots at 1/3 price... US carrots somewhere in between.
________________________________
From: d
Date: Sun, 24 Feb 2013 04:03:07 +000Subject: Re: Comments - Week of February 25
All this was fait accompli 5 yrs ago imho...nothing new except the colors on the deck chairs. For the ultra wealthy of course they have done what they hAve done and leave the US. If the US goes down though, it will not be fun for anyone.
________________________________
From: r
Date: Sat, 23 Feb 2013 17:41:54 -080Subject: Re: Comments - Week of February 25very relevant imho-
ViaMat, a Swiss logistics company that has been safeguarding precious metals since 1945, is literally the gold standard in secure storage.
They have vaults from Switzerland to Hong Kong to Dubai, and they count among their clients some of the largest mining companies in the world. They know what they’re doing.
And now they’re dumping US citizens.
ViaMat does a great deal of business within the United States. As such, the company is heavily exposed to the insane US regulatory environment.
As an example, the 2010 Foreign Account Tax Compliance Act turned into more than 500 pages of regulation! The costs and risks associated with compliance simply became too much for ViaMat to bear.
This matter-of-fact letter from ViaMat management explains their decision:
“We are currently experiencing rapid and substantial changes in the general regulations within this business. The changes mainly relate to the tax structures and taxation systems of various countries. As a consequence of these changes VIA MAT INTERNATIONAL has taken the decision to stop offering this service at its vault [sic] outside of the US to private customers with potential US-tax liability.”
On Feb 23, 2013, at 5:12 AM, J wrote:
am at melbourne airport heading home
australia has good enough weather, lots of space, plenty of ocean, much valuable rocks
why should it have any recession
put a few gold mines and coal fields in the new territories and hong kong too can sidestep recessions
________________________________
From: mSent: Saturday, February 23, 2013 2:17 PM
Subject: Re: Comments - Week of February 25
Wow....
Looking at a chart in Hussman's latest report:
hussmanfunds.comAustralia hasn't experienced a recession in 20 years?
Amazing....truly the "lucky country. |
