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That's a nice thought.
Haha, I have 300,000 shares at .07. Your 1000 times better off than me.
I have in this stock for 300,000 shares at average .0075
Found these 3 posts one had MGGV in the mix:
http://www.investorshub.com/boards/replies.asp?msg=14576999
A diamond Co im in since 3 cents in Canada hit a buck after they listed in Franfurt about 6 months ago...now GZD is still a buck ...that is why I added hundreds of thousands of MGGV of late it can happen a TURNAROUND...I also have Larrys Co EQBM for a year plus..damn shorts
MESSAGE inreply above
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Posted by: Way Truth Life
In reply to: dzynstudios who wrote msg# 16159 Date:11/6/2006 8:19:58 PM
Post #of 16221
dzny, I will repeat something I have said over and over again about two specific small mining stocks that appear to have dodged the manipulation that has overwhlemed most all other junior miners on pinksheets.
DeBeira and Paramount Gold have Market Caps that are anywhere from 20 to 50 times larger than the Market Caps of EQBM, MGGV, MGMX, IPMG, and numerous other tracked junior miners that trade on pinksheets.
The one big difference I have seen between DeBeira and Paramount when compared to the others was the Frankfurt Exchange heavy trading, and seeming backing from European Banks and Brokers. If those two stocks were shorted over here the shorts got run over and left behind. Interesting to me is how both stocks have held much of their ground gained, and remain stocks that trade for much more than a dollar versus penny or subpenny for the others. Neither DeBeira or PAramount Gold has ever produced a cent yet in Revenues and each is still int eh building and acquiring mode just like all of the other junior miners that are getting attacked over here.
I think Larry has been working for awhile to get the Frankfurt trading going. I think there have been a misstep or two since he missed the expected trading volume starts predicted for late September, but much of his focus when I have talked to him over last month has been all about Frankfurt. Seeing how DeBeira and Paramount were able to escape the death grips of the corrupt markets over here by launching separately and ballistically promoting over there I have to say I love his attention being spent over there. The million dollar question is can he pull this off, and surely my hope and everyone else's who are long is a resounding yes. We shall see on that though. What really intrigued me with DeBeira is how masterfully they pulled off the marketing and promotional campaign before they ever had a signed deal. As the stock price went straight up they were then able to sell smaller amounts of shares at premium prices which raised many millions of dollars which were then used to close the first two deals. Ironically that is what the stock market is supposed to be about. That is the ability to issue share ownership in exchange for financing for furthering of company acquisitions and operations. That is why naked shorting is so despicable. As new buyers come into the market to buy ownership (shares) in a company which should then make the stock price go up, what we now see is prices either staying flat even though buying is strong, or possibly even go down as naked shorters try to overwhelm a stock and its shareholders. What this in turn does is decapitate companies as they have no ability to raise financing to fund new acquisitions and operations since the naked shorting overwhlems all of the new buying until it dries up. As others have said it should not just be illegal, but should have very tough sentences for all involved in this manipulation.
DeBeira and Paramount outfoxed these naked shorters by partnering with large money groups in Frankfurt which trumped the manipulation on this side of the ocean. I hope Larry pulls it off over there, and also sets a trend for other small pinksheet companies that are under attack by naked shorters as well.
My opinions.
""
HERE is the reason in the PR ...IMO, I'm with a full plate but everyone is looking at calculations of old numbers to reflect new rules of the INSTRUMENT in Canada for reserve Calcs...but it takes time ...and the old folks...did not do them right...BECAUSE...as usual...they forgot the importance of the WHOLE GAMMET of all MINERALS groups( including Industrial Tests for things used in rare odd element but for Pete sake to hit 10% of an ounce gold and not do an old reserve calc? )...I just can not imagine why older groups' owners prior to MGGV never did a MULI- ELEMENT TEST SUITE like it cost only 10-20% extra years ago.."""The geological setting of the St. Nicholas property has strong geological similarities to the area hosting the Olympic Dam Style Copper, Uranium, Gold, Silver and Unconformity related Uranium-Gold deposits. Previous exploration and mining in the Elliot Lake area have focused on conglomerate hosting Uranium with little or no consideration for other types of deposits."" in yesterdays PR
I'm very concerned with the fact that a 70% acquisition was announced today on a property and there was hardly zero trading. Either nobody is interested or everyone has purchased as many shares as they can - or they are tentative based on the recent performance of the stock.
Don't know. I think the volume and PPS should've moved a bit better than what we saw today.
Well, not every country or company has the right connections or possibilities to move into specific provinces or areas as easily as within the comfortable and homely borders of North America.
"North America greatly reduces the political and title risk that is predominate in third world countries "
This is a great statement could something have scared them away from Peru?
Agreed to on the update NEWS as HUGE why u say cause PLATINUM LAKE Pladdium Muskeg is mentioned...remember the highest PT PD readings were in the DEED MOOSE LAKE of all waters tested in Ontario by the ONT Group of Surveys...and as to Copper it is $3 a pound so what if it aint an PER OUNCE or PER GRAM rteading READON SAIL-on DEED MOOSE LAKE on in THIS NR- in a COPPER CANOE:
a buy now::
Michigan Gold Mining Investments Inc. Acquires 70% of the St. Nicholas Copper, Uranium, Gold, Silver Property in Elliot Lake
Michigan Gold Mining Investments Inc. (PINKSHEETS: MGGV) is pleased to announce it has acquired seventy percent (70%) in the St. Nicholas property in Elliot Lake. The St. Nicholas consists of 55 claims (approx. 2,200 acres) situated northwest of the Elliot Lake Uranium camp in Northern Ontario Canada.
Mike White, MGGV's senior geologist describes the property as follows: "The property hosts and is adjacent to a number of significant Copper (CU) showings with minor Gold (Au) and Silver (Ag) values, intersected by previous diamond drilling completed in the in the 1960s. The mineralization appears related to significant breccia zones that have been intersected in ninety (90%) percent of the drill holes near or within the property. The drilling intersected Cu values ranging from 1.1% over 3 meters (9.6 ft.) to 0.;5% over 12 meters (43 feet), with minor Au and Ag values (.1 oz/ton and 7 oz/ton Ag). Further, the property has numerous U (Uranium) showings occurring along trend with the breccia zones along a probable West-North-West structure that parallels the North Elliot Lake sedimentary basin margins near Quirke Lake and several old uranium mines."
The geological setting of the St. Nicholas property has strong geological similarities to the area hosting the Olympic Dam Style Copper, Uranium, Gold, Silver and Unconformity related Uranium-Gold deposits. Previous exploration and mining in the Elliot Lake area have focused on conglomerate hosting Uranium with little or no consideration for other types of deposits.
MGGV's new St. Nicholas property was identified from examining the records of Mr. S. Wilcox by MVW White (PGeo). The Wilcox/MVWA prospecting Alliance retains a thirty percent (30%) interest in the property as well as a 2% royalty which MGGV has the option to purchase for two million ($2,000,000) Canadian dollars. Evaluation of Wilcox prospecting data and MNDM assessment files by MVWA is continuing.
Michigan Gold's President, Ben Fuschino commented, "Michigan Gold is delighted to be involved in the Elliot Lake camp. The St. Nicholas property's location in North America greatly reduces the political and title risk that is predominate in third world countries and offers our company a good opportunity to develop the property with less chance of running into unanticipated development costs."
Michigan gold will keep the public informed of the exploration results on the St. Nicholas property in the coming weeks.
About Michigan Gold Mining Investments, Inc.
Michigan Gold Mining Investments, Inc. is an American junior mineral exploration company presently in the process of developing mineral assets in North America. Michigan Gold currently retains a one hundred percent (100%) title to a Platinum/Palladium prospect in Northern Ontario, named the 'Deadmoose Lake' property.
Michigan Gold is committed to the accumulation and development of unhedged precious and industrial metal deposit sites in America.
The company is of the opinion that the bull market in metals is a trend that will continue over a generation. The current low levels in Global Inventory in most metals and, most importantly, longer-term strategic considerations originating from high-growth oriented economies in China, India and other Eastern nations has placed extreme pressure on pricing in the metals markets. These factors, coupled with the weakness of the US Dollar due to the USA's large budget and current account deficits, may support historically high dollar prices in metals for many years to come.
Major metals miners have hedged most producing properties and cannot strongly benefit from rising price trends over the near term. This places junior miners in a very advantageous position. As properties are proven and production is ascertained to be feasible, the ability of Michigan Gold Mining Investments to profit from these historically high metals prices should come to fruition.
Michigan Gold Investments Inc. (trading symbol MGGV) is listed on the OTC market and has commenced the process of becoming a full reporting US company.
Forward-Looking Statement
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Source: Market Wire (November 7, 2006 - 8:30 AM EST)
News by QuoteMedia
www.quotemedia.com
I think the only thing that will save this guy is a pr saying they have actually made money. And for his comment about being safer in america, well, from his words a few months ago and the lack of performance, he may be safer in some 3rd world country partnership selling bbq!!! LOL
GLTA
Good news their back in business!!
Michigan Gold Mining Investments Inc. Acquires 70% of the St. Nicholas Copper, Uranium, Gold, Silver Property in Elliot Lake
Tuesday November 7, 8:30 am ET
BAY CITY, MI--(MARKET WIRE)--Nov 7, 2006 -- Michigan Gold Mining Investments Inc. (Other OTC:MGGV.PK - News) is pleased to announce it has acquired seventy percent (70%) in the St. Nicholas property in Elliot Lake. The St. Nicholas consists of 55 claims (approx. 2,200 acres) situated northwest of the Elliot Lake Uranium camp in Northern Ontario Canada.
BEN has "NO SHAME!"...
"Michigan Gold's President, Ben Fuschino commented, "Michigan Gold is delighted to be involved in the Elliot Lake camp. The St. Nicholas property's location in North America greatly reduces the political and title risk that is predominate in third world countries and offers our company a good opportunity to develop the property with less chance of running into unanticipated development costs."
How can he say this without a "tongue-in-cheek" smirk?
all that hoopla about the "historic, significant, milestone event" and the Peruvian Anita Mine...now he says..."it's safer in AMERICA!"
this is the same guy people that led us to doom a few months ago!
oh...by the way....great news?...more copper for a "GOLD STOCK!"
mggv STILL UNDER A PENNY!
NOT BASHING...JUST REMEMBERING!!!!
AND IF YOU WERE HERE THEN...YOU KNOW I WAS RIGHT!
GLTYA
YOU'LL NEED IT!
JMHO
ZOOMAN
Undervalued company for sure.
Shows they are being very active(unlike suggested by some)- Establishing partnerships and acquiring properties using royalty agreements instead of heavy cash outlays upfront with options to buy. In October they also stated they were joint venturing in the water area also. Plus they continue to have other mining properties. More going on then the share price suggest.
HUGE NEWS!!
Michigan Gold Mining Investments Inc. Acquires 70% of the St. Nicholas Copper, Uranium, Gold, Silver Property in Elliot Lake
BAY CITY, MI, Nov 07, 2006 (MARKET WIRE via COMTEX) -- Michigan Gold Mining Investments Inc. (PINKSHEETS: MGGV) is pleased to announce it has acquired seventy percent (70%) in the St. Nicholas property in Elliot Lake. The St. Nicholas consists of 55 claims (approx. 2,200 acres) situated northwest of the Elliot Lake Uranium camp in Northern Ontario Canada.
Mike White, MGGV's senior geologist describes the property as follows: "The property hosts and is adjacent to a number of significant Copper (CU) showings with minor Gold (Au) and Silver (Ag) values, intersected by previous diamond drilling completed in the in the 1960s. The mineralization appears related to significant breccia zones that have been intersected in ninety (90%) percent of the drill holes near or within the property. The drilling intersected Cu values ranging from 1.1% over 3 meters (9.6 ft.) to 0.;5% over 12 meters (43 feet), with minor Au and Ag values (.1 oz/ton and 7 oz/ton Ag). Further, the property has numerous U (Uranium) showings occurring along trend with the breccia zones along a probable West-North-West structure that parallels the North Elliot Lake sedimentary basin margins near Quirke Lake and several old uranium mines."
The geological setting of the St. Nicholas property has strong geological similarities to the area hosting the Olympic Dam Style Copper, Uranium, Gold, Silver and Unconformity related Uranium-Gold deposits. Previous exploration and mining in the Elliot Lake area have focused on conglomerate hosting Uranium with little or no consideration for other types of deposits.
MGGV's new St. Nicholas property was identified from examining the records of Mr. S. Wilcox by MVW White (PGeo). The Wilcox/MVWA prospecting Alliance retains a thirty percent (30%) interest in the property as well as a 2% royalty which MGGV has the option to purchase for two million ($2,000,000) Canadian dollars. Evaluation of Wilcox prospecting data and MNDM assessment files by MVWA is continuing.
Michigan Gold's President, Ben Fuschino commented, "Michigan Gold is delighted to be involved in the Elliot Lake camp. The St. Nicholas property's location in North America greatly reduces the political and title risk that is predominate in third world countries and offers our company a good opportunity to develop the property with less chance of running into unanticipated development costs."
Michigan gold will keep the public informed of the exploration results on the St. Nicholas property in the coming weeks.
About Michigan Gold Mining Investments, Inc.
Michigan Gold Mining Investments, Inc. is an American junior mineral exploration company presently in the process of developing mineral assets in North America. Michigan Gold currently retains a one hundred percent (100%) title to a Platinum/Palladium prospect in Northern Ontario, named the 'Deadmoose Lake' property.
Michigan Gold is committed to the accumulation and development of unhedged precious and industrial metal deposit sites in America.
The company is of the opinion that the bull market in metals is a trend that will continue over a generation. The current low levels in Global Inventory in most metals and, most importantly, longer-term strategic considerations originating from high-growth oriented economies in China, India and other Eastern nations has placed extreme pressure on pricing in the metals markets. These factors, coupled with the weakness of the US Dollar due to the USA's large budget and current account deficits, may support historically high dollar prices in metals for many years to come.
Major metals miners have hedged most producing properties and cannot strongly benefit from rising price trends over the near term. This places junior miners in a very advantageous position. As properties are proven and production is ascertained to be feasible, the ability of Michigan Gold Mining Investments to profit from these historically high metals prices should come to fruition.
Michigan Gold Investments Inc. (trading symbol MGGV) is listed on the OTC market and has commenced the process of becoming a full reporting US company.
Forward-Looking Statement
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
For more information Contact:
John
989-509-5908
or email Contact via http://www.marketwire.com/mw/emailprcntct?id=C2192B1A0D10946B
Investor Relations
Website: www.michigangold.net
Michigan Gold Mining Investments Inc. (PINKSHEETS: MGGV) is pleased to announce it has acquired seventy percent (70%) in the St. Nicholas property in Elliot Lake. The St. Nicholas consists of 55 claims (approx. 2,200 acres) situated northwest of the Elliot Lake Uranium camp in Northern Ontario Canada.
Mike White, MGGV's senior geologist describes the property as follows: "The property hosts and is adjacent to a number of significant Copper (CU) showings with minor Gold (Au) and Silver (Ag) values, intersected by previous diamond drilling completed in the in the 1960s. The mineralization appears related to significant breccia zones that have been intersected in ninety (90%) percent of the drill holes near or within the property. The drilling intersected Cu values ranging from 1.1% over 3 meters (9.6 ft.) to 0.;5% over 12 meters (43 feet), with minor Au and Ag values (.1 oz/ton and 7 oz/ton Ag). Further, the property has numerous U (Uranium) showings occurring along trend with the breccia zones along a probable West-North-West structure that parallels the North Elliot Lake sedimentary basin margins near Quirke Lake and several old uranium mines."
The geological setting of the St. Nicholas property has strong geological similarities to the area hosting the Olympic Dam Style Copper, Uranium, Gold, Silver and Unconformity related Uranium-Gold deposits. Previous exploration and mining in the Elliot Lake area have focused on conglomerate hosting Uranium with little or no consideration for other types of deposits.
MGGV's new St. Nicholas property was identified from examining the records of Mr. S. Wilcox by MVW White (PGeo). The Wilcox/MVWA prospecting Alliance retains a thirty percent (30%) interest in the property as well as a 2% royalty which MGGV has the option to purchase for two million ($2,000,000) Canadian dollars. Evaluation of Wilcox prospecting data and MNDM assessment files by MVWA is continuing.
Michigan Gold's President, Ben Fuschino commented, "Michigan Gold is delighted to be involved in the Elliot Lake camp. The St. Nicholas property's location in North America greatly reduces the political and title risk that is predominate in third world countries and offers our company a good opportunity to develop the property with less chance of running into unanticipated development costs."
Michigan gold will keep the public informed of the exploration results on the St. Nicholas property in the coming weeks.
About Michigan Gold Mining Investments, Inc.
Michigan Gold Mining Investments, Inc. is an American junior mineral exploration company presently in the process of developing mineral assets in North America. Michigan Gold currently retains a one hundred percent (100%) title to a Platinum/Palladium prospect in Northern Ontario, named the 'Deadmoose Lake' property.
Michigan Gold is committed to the accumulation and development of unhedged precious and industrial metal deposit sites in America.
The company is of the opinion that the bull market in metals is a trend that will continue over a generation. The current low levels in Global Inventory in most metals and, most importantly, longer-term strategic considerations originating from high-growth oriented economies in China, India and other Eastern nations has placed extreme pressure on pricing in the metals markets. These factors, coupled with the weakness of the US Dollar due to the USA's large budget and current account deficits, may support historically high dollar prices in metals for many years to come.
Major metals miners have hedged most producing properties and cannot strongly benefit from rising price trends over the near term. This places junior miners in a very advantageous position. As properties are proven and production is ascertained to be feasible, the ability of Michigan Gold Mining Investments to profit from these historically high metals prices should come to fruition.
Michigan Gold Investments Inc. (trading symbol MGGV) is listed on the OTC market and has commenced the process of becoming a full reporting US company.
Forward-Looking Statement
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
For more information Contact:
John
989-509-5908
or email Contact via http://www.marketwire.com/mw/emailprcntct?id=C2192B1A0D10946B
Investor Relations
Website: www.michigangold.net
SOURCE: Michigan Gold Mining Investments Inc.
http://www.michigangold.net
MGGV shows it is still pursuing metals as well as water projects with new 70% interest mining property. They will have a another partner too. Way undervalued for low float.
Well? Another Monday and it's slow in here.
It's all about closing the deals ... we'll see how this one shapes up.
Yeah if they can close one of these deals they will be in good shape.
Well it does have potential, but like everything else it can be a gamble but this one I personaly don't think it is!!!!
Yeah well, MGGV has been struggling lately, let's get this one some support ... I'm sure it can do well ... it has plenty of potential.
T-UNIT, it's always in full effect and I am sure they will help!!! Alot of promise on this one!
MGGV is already getting some vision over there :
http://www.investorshub.com/boards/board.asp?board_id=5245
It would be cool to get them added to their website too like other companies are .....
Green Arrow can give this one a boost, T-Unit can help this one along .... they believe in precious metals plays.
Fuse, I keep on asking myself why don't people don't understand that gold is huge?? That it's the best place to invest on!!!
Gold is the place to be right now. Junior mining companies are going to be wave .... simply BIG!!! Get in early, get in low, and hold on to your stock .... even if it takes time to generate revenues, don't be dumping, just hang tight and GOLD will reign supreme.
It's heading up to $1,000 !!!!
LOL, the election is almost here, this may be why!!
When will we hear more from the company on how this water deal is working out???
Metals starting to pick up again in a big way. Gold broke through 611 resistance. Silver attacking 12.50. The major metal stocks are breaking out to the upside and some juniors like RGL:D breaking out.
The microcap miners should follow soon. Watch for a dollar breakdown after the elections are over and the FED stops supporting.
http://www.informationclearinghouse.info/article15440.htm
The Dollar's Full-System Meltdown
By Mike Whitney
10/30/06 "Information Clearing House" -- -- The U.S. Dollar is kaput. Confidence in the currency is eroding by the day.
A report in The Sydney Morning Herald stated, “Australia’s Treasurer Peter Costello has called on East Asia’s central bankers to ‘telegraph’ their intentions to diversify out of American investments and ensure an ‘orderly adjustment’….Central banks in China, Japan, Taiwan, South Korea, and Hong Kong have channeled immense foreign reserves into American government bonds, helping to prop up the US dollar and hold down interest rates,’ said Costello, but ‘the strategy has changed.’”
Indeed, the strategy has changed. The world has come to its senses and is moving away from the green slip of paper that is currently mired in $8.3 trillion of debt.
The central banks now want to reduce their USD reserves while trying to do as little damage to their own economies as possible. That’ll be difficult. If a sell-off ensues, it will start a stampede for the exits.
There’s little hope of an “orderly adjustment” as Costello opines; that’s just false optimism. When the greenback begins listing; things will turn helter-skelter quickly.
In September, we saw early signs that the dollar was in trouble. The trade deficit registered at $70 billion but the Net Foreign Security Purchases (NFSP) came in at a paltry $33 billion. That means that our main trading partners are no longer buying back our debt which puts downward pressure on the greenback. The Fed had two choices; either raise interest rates substantially or let the currency fall. Given the tenuous condition of the housing bubble and the proximity of the midterm elections, the Fed did neither.
A month later, in October, the trade deficit hit $69.9 billion but, then, without warning, a miracle occurred. The Net Foreign Security Purchases skyrocketed to a “historic high” of $116.8 billion; covering both months’ shortfalls almost to the penny.
Coincidence?
Not likely. Either the skittish central banks decided to “stock up” on their dollar-denominated investments or the Federal Reserve (and their banking-buddies) is buying back its own debt to float us through the elections.
This is exactly the kind of hanky-panky that people expected when Greenspan stopped publishing the M-3 last March keeping the rest of us in the dark about what was really going on with the money supply.
Are we supposed to believe that the skeptical central banks suddenly doubled up on their T-Bills while they’re (publicly) moaning about the dollar’s weakness and threatening to diversify?
That’s a stretch.
According to the Wall Street Journal the Chinese Central-bank governor Zhou Xiaochuan stated unequivocally that “We think we’ve got enough.” The Chinese presently have nearly $1 trillion in USD and US Treasuries.
“Enough”?
The United States runs a $200 billion per year trade deficit with China. If they’ve “got enough” we’re dead-ducks. After all, it doesn’t take a sell-off to kill the dollar, just unwillingness on the part of the main players to stop purchasing at the same rate.
Of course, everyone in Washington already knew that doomsday was approaching. That’s the way the system was designed from the very beginning. It’s all part of the madcap scheme to “starve the beast” and transfer the nation’s wealth to a handful of western plutocrats. That’s explains why the Fed and the White House whirred along like two spokes on the same wheel; every policy calculated to thrust the country headlong toward disaster.
The administration never created a funding mechanism for the $400 million tax cuts or for the 35% expansion of the Federal government. Defense spending increased by leaps and bounds as did the “no-bid” contracts for friends of the Bush clan. At the same time, interest rates were lowered to rock-bottom to put as much money as possible into the hands of people who couldn’t meet the traditional criteria for a mortgage. And, if gluttonous waste, reckless overspending and “Mickey Mouse” loans were not enough; the Fed capped it off by doubling the money supply in 7 years; a surefire prescription for hyper-inflation.
So, which one of these policies was not deliberate?
The financial crisis that we now face was created by design. It is intended to destroy the labor movement, crush the middle class, quash Medicare, Medicaid and Social Security, reduce our foreign debt by 50 or 60%, force a restructuring of America’s debt, privatize all public assets and resources, and create a new regime of austerity measures which will divert more wealth to the banking and corporate establishments.
The avatars of neoliberalism invariably use crooked politicians to spawn enormous “unsustainable” debt so that the nations’ riches can be transferred to ruling elites. It works the same everywhere. It’s a form of corporate colonization, only this time the victim is the good old USA.
“The Phase of Impact”
According to Richard Daughty in his prescient article “The Phase of Impact” the Federal Reserve and the Treasury Dept have already manned the battle-stations. Here’s an excerpt:
“Mr. Paulson, the Secretary of the Treasury, is, by virtue of his ascension to the throne, now the head of the shadowy President’s Working Group of Financial Markets (which was created by Presidential Order 12631) and he is insisting that they meet more often, namely every 6 weeks!
This whole Working Group thing was originally set up as a fallback, ad-hoc, if-then defense to deal with possible economic emergencies, but now they are routinely meeting every 6 weeks. He has even ordered Jim Wilkinson, his chief of staff, to ‘oversee the creation of a Treasury Command Center to track markets world-wide and serve as an operations base in a crisis”! (Wall Street Journal) World-wide!! The American government is moving to take control of the world-wide economy as the result of an anticipated crisis? Yikes!”
Daughty goes on to say: “So a lot of the hubbub is obviously being caused by some approaching upheaval, perhaps reflected in something sent to me by Phil S., which is the Global Europe Anticipation Bulletin No8 which reminded us that last May they predicted that the economy would have a ‘phase of acceleration’ that would begin in June, and it “would be spread out over a period of a maximum of 6 months’, which it subsequently did. They said then, and are saying again now, that a ‘phase of impact will begin in November 2006’, and that this impact phase would be the ‘explosive phase of the crisis’.
This ‘phase of impact’ that is due to begin momentarily is, they explain, ‘a period when a series of brutal crises starts affecting by contamination the total system. This explosive phase of the crisis, which will last 6 months to one year, will affect directly and very strongly financial players and markets, the owners of investment schemes with fixed incomes in dollars, pension funds and the strategic relations between the United States on the one side, and Europe and Asia on the other.” (Richard Daughty; “The Phase of Impact” Kitco.com)
Predictions, of course, are rarely reliable and Daughty’s scenario may be a bit too apocalyptic for many. But if we accept the premise that the tax cuts, the expansion of the federal government, the doubling of the money supply, and the $10 trillion that was sluiced into the housing bubble were not merely “honest mistakes” made by “supply side” enthusiasts; then we must assume that this is all part of a loony plan to demolish the economic foundation-blocks of the current system and remake society from the ground up.
Domestically, that plan appears to involve the activation of the police state.
In the last few weeks the Bush administration has passed the Military Commissions Act of 2006 which allows the president to arrest and torture whomever he chooses without charging him with a crime. Also, unbeknownst to most Americans, Bush signed into law a provision which, according to Senator Patrick Leahy, will allow the president to unilaterally declare martial law. By changing The Insurrection Act, Bush has essentially overturned the Posse Comitatus Act which bars the president from deploying troops with the United States. The John Warner Defense Authorization Act of 2007 (as it is called) also allows Bush to take control of the National Guard which has always been under the purview of the state governors. Bush now has absolute power over all armed troops within the country, a state of affairs which the constitution purposely tried to prevent. The administration’s dream of militarizing the country under the sole authority of the executive has now been achieved although the public still has no idea that a coup that has taken place.
Internationally, the falling dollar means that America’s debt will be reduced proportionate to the percentage-loss of the dollar in relation to other currencies. This is a great deal for the U.S. First the Fed prints fiat money to buy valuable resources and manufactured goods and then it nabs a discount by depreciating its currency. It’s a “win-win” situation for Washington, although it will undoubtedly cheat unwitting foreign-creditors out of their hard-earned profits. It’s doubtful that their interests will weigh very heavily on the money-lenders at the US Treasury or the Federal Reserve.
The dollar faces a second crisis at home which is bound to play out throughout 2007. The $10 trillion dollar housing bubble is quickly losing air causing a precipitous drop in GDP. The housing industry is seeing its steepest decline in 30 years and home equity is beginning to shrivel. Housing has been the one bright spot in an otherwise bleak economic landscape. With the housing market slowing down and prices decreasing, the $600 billion of consumer spending which was extracted in 2005 from home equity will quickly evaporate triggering an overall slowdown in the economy. (Consumer spending is 70% of GDP)
By the Fed’s own calculations; “The total amount of residential housing wealth in the US just about doubled between 1999 and 2006 up from $10.4 trillion to $20.4 trillion. (“Times Online”) If these figures are accurate than we can assume that much of America’s “perceived” growth has been nothing more than the expansion of debt. In fact, that seems to be the case. Wages have been stagnant since the 1970s, 3 million manufacturing jobs have been outsourced, savings have shrunk to below 0%, and personal debt is soaring. We have become an “asset-based” society and when the principle asset begins to loose its value, we are in deep trouble. As housing prices continue to decline through 2007 we can expect a full-blown recession. If energy prices rear their ugly head again, (were they lowered for the elections?) it will just be that much worse.
So, how will recession affect the dollar?
Capital has no loyalties. It follows the markets. When America’s bustling consumer market stalls, we’ll undergo capital flight just like everywhere else. The 3 million lost manufacturing jobs, the 200,000 lost high-paying high-tech jobs, the tax incentives for major corporations doing business outside the country; all signal that corporate America has already loaded the boats and is headed for more promising markets in Asia and Europe. A sluggish consumer market could further weaken the dollar and force Americans to begin saving again but, (and here’s the surprising part) the decision-makers at the Federal Reserve and the Treasury Dept don’t really care if the face-value of the greenback goes down anyway.
What really matters is that the dollar retains its position as the world’s reserve currency. That allows the Federal Reserve to continue to print the money, set the interest rates, and control the global economic system. The dollar presently accounts for 66% of foreign currency reserves in central banks across the globe, an increase of nearly 10% in one decade alone. The dollar has become the international currency, a de-facto monopoly. This is the goal of the globalists and the American ruling elite who dream of one system, the dollar-system; with us running it.
So, how will this cadre of plutocrats coerce the other nations to continue to use the dollar while it plummets from its perch?
Oil.
As long as oil is denominated in dollars, the central banks will be forced to stockpile American scrip regardless of its value. It’s no different than holding a gun to someone’s head. They will use our debt-plagued greenbacks or their cars and trucks will sputter, their tractors and factories will wheeze, and their economies will grind to a halt. It’s just that simple.
America cannot maintain its superpower status unless it continues to control the global economic system. That means the linkage between the dollar and oil must be preserved. The Bush troupe sees this as an existential issue upon which the future of America’s ruling class depends. By 2020, 60% of the world’s oil will come from the Middle East. Bush will do everything in his power to control the resources of the Caspian Basin, thereby expanding US dollar-hegemony and paving the way for a new American century
That's too bad ... I got into MGGV and MGMX and they both seem quite dormant right now. Gets frustrating.
no but we are tired of watch our money being thrown away. the ceo of mggv is a moron it will take moving a mountain to get this dog back on it's feet. i don't care how much the anita mine is worth if the mine sits idle it isn't worth a plug nickle.
Has everyone on this board gone away on vacation???
Wow, no kidding it's slow in here. Watching paint dry.
It's been a slow week on this board.
i've lost over 3 grand on a penny stock i don't think we will fine anytime soon. i plan on keeping this POS for years if i have to. it will either go back up or it will be dissolved. one way or the other it will work its way out. as i have been saying since i found this board either i make money or i write it off either way it will take care of itself. 3 grand isn't going to make jump off a bridge but around here the bridges are only 10 to 12 feet from the ground below. i would just hurt myself and be even more pissed off. keep your sence of humor that is the only thing that is important anyway without it all is misery.
A possible "dent" in the SEC's armor ??
http://www.investorshub.com/boards/read_msg.asp?message_id=14311890
as long as we don't get any news we should be fine J/K
Man sometimes these things suck the life out of you. CSHD burned my bottom the freaking stock is halted right now.
Bill remember back when i said i lost $3,000 grand on the POS. well as of today it's over $3,000. i again will say though i will hold this POS and pray that the morons running it get a clue or bring in somebody that can turn this around.
I think without the downward pressure in this stock some buying could send it past .02 easily.
I think many of us are wondering the same thing.
I Got in here today as well. What do you think we are looking at short term here jonesie?
I'd have to agree with you on that. Current prices are so low it is hard to understand. That's why I got back in.
Another new low for this stock MGGV. NITE was dumping shares today again. They brought this stock down from 10 cents plus and were back again today. If the float is 12 million shares the company is worth 70 or 80 thousand only in the float. Even if 50 million only 300,000. It is trading like a shell. Actually lower than some shells I know.
Boy, did they ever need something to re-spark some interest.
It seems like for the first time in a long time the pressure is off MGGV, I think getting out of the Condor Deal was a great move.
This was a great reentry area. The stock seems to have a solid bottom at .008 and is bouncing easily off that area. It shouldn't take much news to push it back towards .02.
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