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Well it is really hard to say to be honest. Many years ago the price of food/everything was so high that once a month a friend and I would drive 300 miles each way to load up in supplies..now we have more stores with more competition.
hahah, that is the story I hear often..lol
I should take off and try to finish doing my tax. It is like winter there is no end in sight. LOL.
David Tice runs the Bear Fund and used to post commentaries on Kitco in the 90's. (I think it was Kitco, the memory is a bit rusty these days.)
I live in Northern Canada and live in an oil community. You could freeze to death waiting on the transit system.lol. You wouldn’t like the wait.lolol.
We have been experiencing very mild winters for about 10-12 years but this winter has been more the norm for the North. I do not really expect to get both my vehicles out too soon unless this warm weather lasts for about 3-4 weeks.
I noticed that Spell has been posting lately but I think he is still on holiday. He said that he would try to post if he could while on holiday so I am not sure. He seems to have been showing up on Fridays recently but I suspect he is still on holiday.
I usually miss Happy Hour or turn up late. I am going to try to remember to send out reminders more often and try to see if more people will show.
I love Monk too. Today the snow is melting here also, but I expect we might have another dump before we will be saying farewell winter. One of my vehicles is sticking through the snow so I hope I can get that one out soon.
I have been drinking Raspberry tea and a Tim Hortons Coffee maybe once every couple of months. I will have a look at Dr Williams tea. Thank you.
I depend on a little message machine I carry around so as to remember where I am going.lol. Maxgold had me convinced one day it was Friday and it was only Thursday so I know the feeling.
I have been reading through some of Spellbounds posts while I have been waiting, it is almost like a step into the late 90's with David Tice. Do you remember him, or have you even heard off him?
ok, I will wait for you and your green tea.
I was a little late in reminding everyone about happy hour, next week I will try harder to remind everyone on Thursday.
Well I am happy your clean.
John Embry. (price of Gold)
http://www.b-tv.com/i/videos/JohnEmbryep178.wmv
Looks like I am the only one who showed for coffee. Ok, next week guys.
I will be around for another 30 minutes if anyone should show,
Mary.
US investment bank Bear Stearns has had to be rescued from collapse by the US central bank.
But how serious is this development for the future of the banking system, and what does it say about the credit crunch?
http://news.bbc.co.uk/2/hi/business/7296827.stm
Dear Extended Family,
I wrote you last night about the seriousness of the situation.
We have examined every possible solution to today's problems and find NO PRACTICAL SOLUTION whatsoever.
Today’s multi billion dollar bail out of a cash stripped major international investment banking firm proves my contention that whatever infinite level of liquidity is required will be provided.
Any assumption that these bailout loans are only 28 days is childish. They will ALL be rolled forward at zero or near zero interest into the next lifetime, if required.
This is a modern day Weimar Republic case study.
The following article is from the BBC. Note how careful they are to not say the "D" word, derivatives.
How dangerous is the Bear Stearns situation?
The worry is that if Bear Stearns collapsed, it would be forced to sell its assets, such as sub-prime mortgage securities, into the market at cut down prices.
This would have lowered their value even further.
And that could have affected the solvency of many other big US banks.
And if other big banks went bust, then credit would dry up rapidly across the whole economy, slowing economic activity.
That is why the New York Federal Reserve felt it had no choice but to intervene to support a short-term rescue deal.
But there may be other banks that are already at risk of reaching a similar position to Bear Stearns.
http://www.jsmineset.com/
US investment bank Bear Stearns has had to be rescued from collapse by the US central bank.
But how serious is this development for the future of the banking system, and what does it say about the credit crunch?
http://news.bbc.co.uk/2/hi/business/7296827.stm
Dear Extended Family,
I wrote you last night about the seriousness of the situation.
We have examined every possible solution to today's problems and find NO PRACTICAL SOLUTION whatsoever.
Today’s multi billion dollar bail out of a cash stripped major international investment banking firm proves my contention that whatever infinite level of liquidity is required will be provided.
Any assumption that these bailout loans are only 28 days is childish. They will ALL be rolled forward at zero or near zero interest into the next lifetime, if required.
This is a modern day Weimar Republic case study.
The following article is from the BBC. Note how careful they are to not say the "D" word, derivatives.
How dangerous is the Bear Stearns situation?
The worry is that if Bear Stearns collapsed, it would be forced to sell its assets, such as sub-prime mortgage securities, into the market at cut down prices.
This would have lowered their value even further.
And that could have affected the solvency of many other big US banks.
And if other big banks went bust, then credit would dry up rapidly across the whole economy, slowing economic activity.
That is why the New York Federal Reserve felt it had no choice but to intervene to support a short-term rescue deal.
But there may be other banks that are already at risk of reaching a similar position to Bear Stearns.
http://www.jsmineset.com/
The clock is ticking... Hello..
Hello. Anyone around for Happy Hour?
Mary
Have a great weekend Million, looks like you took an extended coffee break. (lucky you).
Mary.
Happy Hour today.
Mary
Hello Chevy, it was good to see that Brownstone was not on the List.
Government Agencies need to be more aggressive in punishing Directors of Companies who deliberately swindle Money out of Share Holders.
Laws against White Collar Criminals need to be enforced with more dynamism so that the message is clear; it is Fraudulent to steal Money including Share Holders Money.
Good to see you as always.
Mary.
Posted On: Thursday, March 13, 2008, 9:20:00 PM EST
Economic Forces Converge Like Never Before
Author: Jim Sinclair
Dear Extended Family,
Never in economic history has there been a night like tonight. I am writing later than usual because of the enormity of all the converging forces. The euro reaches for $1.60, the Middle East oil producers are in shock, and the IMF tells the world to ?plan for the worst.?
The reason this missive is late is because I am reverberating at the speed of the disintegration. These cursed OTC derivatives and their makers, who incidentally made the international banking community rich beyond your wildest dreams, are now unwinding at lightening speed.
Do you think any entity with any OTC derivative now has faith in the paper?
This paper is $550 trillion plus dollars in notional value. The horrible fact is that in bankruptcy notional value becomes real value with the capacity to destroy the world financial system.
The above is no wild assumption. It is hard, cold fact.
Expect currency intervention to slow down the rise of the euro.
Intervention has never worked. It will not now. In fact, it will backfire so fast that the effort will be abandoned, making things even worse.
Intervention in currency, the dollar, will only provide the capacity for other central banks, oil producers and holders of high risk long US treasury paper to diversify out in huge amounts of decaying dollars at singular prices.
I could go through a tome on how intervention works, but accept that any rise in short rates will break the bank immediately. Intervention in the euro/dollar is another practical impossibility except as a bluff.
There is no practical solution to today?s TERMINAL problems and that means you are up to your eyeballs in alligators.
You must protect yourselves.
Gold is going to $1650. In all probability my major error will be in forecasting a price that is much too low for gold.
The ratio spread long the major gold producers, short the juniors, is going to kill the math whizzes that think they are in the captain?s seat. The reason is the only value still in precious metals shares lies in the best junior issues these geeks have been hammering.
The prayer that a junior with quality assets has is that the illegal short position is enormous.
This is it!
Your concerned friend,
Jim
http://www.jsmineset.com
Hello Chevy, thank you for posting this link.
Best wishes
Mary.
For anyone who is a fan of Jim Sinclair.
Jim's Mailbox
Author: Jim Sinclair
The following quote from Jesse Livermore explains why gold juniors have been under pressure by many would-be technicians in small cap situations. These would-be technicians make themselves look good because they make it happen as a self fulfilling prophecy then miss the big up move.
"For instance, I had been bullish from the very start of a bull market, and I had backed my opinion by buying stocks. An advance followed, as I had clearly foreseen. So far, all very well. But what else did I do? Why, I listened to the elder statesmen and curbed my youthful impetuousness. I made up my mind to be wise carefully, conservatively. Everybody knew that the way to do that was to take profits and buy back your stocks on reactions. And that is precisely what I did, or rather what I tried to do; for I often took profits and waited for a reaction that never came. And I saw my stock go kitting up ten points more and I sitting there with my four-point profit safe in my conservative pocket. They say you never go broke taking profits. No, you don’t. But neither do you grow rich taking a four-point profit in a bull market.
I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements - that is, not in reading the tape but in sizing up the entire market and its trend.
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. Old Turkey was dead right in doing and saying what he did. He had not only the courage of his convictions but also the intelligence and patience to sit tight.
Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market the game is to buy and hold until you believe the bull market is near its end."
http://the3500.wordpress.com/2007/02/01/a-stock-operator/
http://www.jsmineset.com/
Hello Eddie, I heard last week that one of the refinerarys in Edmonton/Alberta/Canada is down and the price of oil is going up due to the short fall.
Mary.
Hello Eddie, I will certainly use that great bit of advice. Thank you for your help with the ibox I am very grateful.
Best wishes Mary.
Hello Sumisu I have an elderly retired friend who I forward some of Spellbounds articles onto and she in turn forwards them onto some of her friends. She is very opinionated and I think she would be a great asset to this board, but I cannot find the right incentives to encourage her to join the team.
I think Spellbound should be back by the end of this week. It looks like Maxgold is missing Spellbound too.
Good to see you on board Sumisu keep us informed regarding the World News on TV. Most of the information I read is not worthy of reprint.lol.
Best wishes
Mary.
Hello Max, always great to talk with you.
I am not a scientist and am not trying to profess to such, but I am off the belief that in the North when Ice freezes in the winter it is not of the same value as Ice that freezes during summer months.
So what I am trying to say is this Ice that has frozen back over this winter will quickly melt during the summer months and cause a rise in water levels that in turn will cause flooding.
It is a bit of a pity that the author of this report neglected to inform the readers off how the Ice forms and melts. I will try to find some article that explains how the Ice that forms during the summer cycle is off far better quality and will not melt during the winter cycle.
Best wishes,
Mary.
“The ice is back.
Gilles Langis, a senior forecaster with the Canadian Ice Service in Ottawa, says the Arctic winter has been so severe the ice has not only recovered, it is actually 10 to 20 cm thicker in many places than at this time last year.”
Hello Chevy, have a good weekend, hope all is well with you.
Mary.
Hello Maxgold, we just survived a really ugly storm this last week. To be honest there is no end in sight to this winter. I suspect that this spring run off is not going to go well. Years ago The First Nation People (FNP) would take positions all the way along the river watching to ensure the river was breaking evenly. If there was a large block of ice that was stopping the flow the FNP would inform the RCMP to ensure that the lower site people could be evacuated in time. I hope our FNP will be there for us this spring.
The North needs harsh winters. I hope that global warming is wrong Max for everyone’s sake.
Looks like you have taken over for Spell after all. Now I get to see the other side of the coin. lol. Good to see you Max.
Mary.
hahah, Chevy too bad I don't have a few million dollars that I could use to back you for President; You would do a great job.
Mary.
Hi Learningasitgoes, I have tried to keep the ibox current any information from KL is posted.
good to see you on board.
Mary.
Read my lips. "DO NOT BUY" My post is merely an observation of public releases made by Ken Lamb. I would be the last person on this earth who would encourage anyone to buy any stocks belonging to any company.
Until the day that Ken Lamb officially states that Brownstone has a geological report from a certified geologist who is willing to state that the property has proven reserves worthy off production and that the same geologist has a good standing in the gold community; read my lips. "DO NOT BUY"
Mary.
Hello Chevy, tell your friends to stop voting in movie stars.
Spellbound has gone on a little trip so it is up to you to keep an eye on Maxgold. lol.
Hope all is well with you.
Mary.
Hello Maxgold, I was told to tell you by Spellbound that he is off on holiday and that you have the board to yourself so enjoy it while you can..lol.
great to see you.
Mary.
I have quite a few dance cards Million, you will need to wait your turn.
Mary.
Hello Spellbound, David Tice was calling for gold over $1200.00 when gold hit rock bottom and he was laughed off the TV by the so called experts. DT recommended a stock and when I asked my broker to buy for me he was very upset telling me if I bought I would regret buying and that everyone holding that stock regretted being trapped. I went against the broker and told him to buy and I did very well with that stock when I sold.
It will not just be gold and oil that will be pushed to the limits so will all commodities that China demands.
Time will tell but unless China falls off the planet I can only see commodities rolling in one direction.
Mary.
Hello Spellbound, welcome to the board as the new assistant. I should have congratulated you sooner on your new position, perks and all.
Mary.
Hello Max, good to see you posting. This year we have more snow than I have seen in many years. So mathematically I think we probably did have many more low temperature days than we have seen in decades but we must have had a substantial amount of -20 days for us to accumulate so much snow and still have 2 months to go.
Your friend always.
Mary.
Thanks Elton, much appreciated.
Mary