Let us know if Ameritrade trades for our info. Thanks

You also might try TD Ameritrade

I haven't bought on Etrade for a while. Let us know if you do.

Etrade

Back at ya.

We did hit Nat. gas. Lots of it. Enough to work the field and more.

But we were not the lead and the lead team wanted oil. (Geo Surveys)

They (Geo Surveys) still has it in their pocket.

Really nailed that one!

Or are you going to go with the "I didn't mean today" excuse....

Don't you get tired of false proclamations? I do.

Well, that is a very different reply than: I was wrong.

JP Morgan Increases Eligible Silver Inventory 97% in 3 Days!

The Morgue sure isn't letting a good silver raid go to waste!
After adding 509,000 ounces into eligible silver vaults Tuesday, The Morgue added another 594,142 ounces of silver into eligible vaults again on Thursday.

To put this number in perspective, on Monday, JP Morgan held 1,131,458 ounces of silver in eligible vaults. A mere three days later, JP Morgan's physical silver inventory has increased by 97.5% or 1,103,276 ounces to 2,234,734 ounces!

Yep, going down! Riiiiiiiight...

Investment U: Speaking of government intervention, what do you see will be the end result of the Fed's Operation Twist?

Peter Schiff: Well, it's going to put the screws on the economy. It's going to hurt quite a bit. It's not going to grow the economy. In fact, if anything it's going to further subject the banking sector to additional losses. That is the problem. Yes, they have temporarily brought down long-term rates, but that's squeezing the spread that these banks are operating off of.

And so ultimately it weakens the banking sector, and it paves the way to QE3. All-out QE3 is coming, because, again, this didn't work, but when they first announced it, the initial reaction was a drop in oil prices, a rise in the dollar. And this might create an environment in which the Fed can claim that there's no inflation, that the danger is deflation. And it creates a smokescreen under which it can do what it wanted to do all along, which is just create more inflation, print more money, buy more government debt and stimulate.

Yea, they could, or you could...

Fair idea. Let me bounce it off Tom

Thanks.

I'm sure all would be glad.

I am long silver, but this article (with past history of the silver market manipulation) give me pause that we may be in for another massive manipulation dip. Proceed with caution!

http://silverdoctors.blogspot.com/2011/08/4-major-us-banks-increase-silver-short.html

4 Major US Banks Increase Silver Short Position by 3.5 Million Ounces in July

In May, we documented how 4 large US banks (likely chiefly JPM and HSBC) increased their silver short position by 10 million ounces while the silver price declined by 36%. We wrote that this was perhaps the best evidence of silver manipulation to date, as any rational trader would have COVERED their short position during such an extreme sell-off, rather than massively increasing their short position INTO price weakness!

As can be verified by the CFTC data below, we also documented how these same 4 US banks increased their silver short positions by another 2.28 million ounces in June.

The CFTC Bank Participation Report data is out for July and these same 4 banks have again massively increased their silver short position.

On 7/5/11, 4 large US banks held 23,084 silver short contracts, the equivalent of being short 115,420,000 ounces of silver.
As of 8/2/11, their short silver position has increased by another 3.5 million ounces to 23,775 contracts, or 118,875,000 ounces!
This means that 4 large US banks now hold short contracts over 4 times the size of ALL available COMEX registered (deliverable) silver stores at 27.9 million!

In fact, the cartel's naked short silver position is almost back to the 25,000 contracts they held in April prior to their short-squeeze panic buying which drove silver from $40 to $50 in weeks!

Respected silver analyst Ted Butler had been advising earlier this summer that he believed that JPMorgan was attempting to exit their silver shorts, but the CFTC Bank Participation Report data indicates that ever since the April short-squeeze in silver, the cartel has continued to steadily increase the size of their silver short position regardless of price action in the underlying metal.

Look for the cartel short position to continue to increase until a rising silver price again induces a major short squeeze, which could appear again in the $45-$60 price range.

Would you care to explain the "why?"

Far better than SLV.

Sprott definitely has the physical, there are no questions to this. Just read the 2 perspectives.

SLV perspective is loaded with loopholes and only large investors can get the physical.

PSLV, anyone can get it, they just pay a premium.

I use plsv only because (IMO) when it hits the fan - if slv does not have the physical they (JP Morgan - the backers of this ETF - go figure that one), SLV will crash bigtime and you will have no warning. This too could happen in the case of a nasty planted rumor.

PSLV, on the other hand will not crash the same as they do have the physical.

Physical is still the best. Trade pslv for the insurance just incase SLV does not have the goods.

So, does anyone think the JP Morgan is their friend in silver???? If not, why in God's good name would you be involved in slv? If it hits the fan, IMO, I would Not want to be in slv.

QE3 - The Feds sneaky plan...

http://brucekrasting.blogspot.com/2011/08/feds-plan-rumors-of-news.html

Glad the price didn't dive to $2.58 at the open.

Was nice to see the price actually go up on what was very good news. The more and more big boys who join to support NUSMF with millions, the better and more solid opinion we gain.

Now, on to the launching of a ship.

That's the plan.

Will be adding more and more as able.

Nothing like being in on the ground floor of a game changing technology company like this one...

Stock, I disagree that there will not be more stimulus.

Please see the following:


Fed Dove Evans Open Mouth, Demands More QE, Sends Gold Soaring

Who would think that all it takes for gold to surge by $40 in under an hour is for the Fed to resume the old song and dance. Yet that is precisely what happened: ever since Chicago Fed president Evans sat down with Steve Liesman to discuss that he would be in favor of more easing, and saying he believes in "room for accommodation" and that we "still need to do more on monetary policy", gold soared from under $1790 to over $1830. And confirming that gold will go far higher is his statement that "Fed policy was not a driver of the commodity price surge." In other words, these buffoons have not learned anything, and the commodity price shock is coming. However, as usual, it will be blamed on speculators. Luckily the CME can hold them in their tracks with a relentless series of margin hikes. Or not. When will the CME finally hike margins on printer toner cartridges?

http://www.zerohedge.com/news/fed-dove-evans-open-mouth-demands-more-qe-gold-surges-40

Snagged my first 500 shares today.

If this company is a fraction of the potential, I will be hanging on to these for years to come.

Apparently there is a problem with the stockschart link. I have tried it a couple of times and they either no longer carry it or something in their system is goofy.

For now, there is a working link on the Info Box for the charts. You can click on the link to go to the charts for EDEP.

Here is the real fun... (simplified)

Chavez wants to w/d 99 tons.

The holders only have 10 tons in storage.

It should be fun!

http://georgewashington2.blogspot.com/2011/08/chavez-nationalizes-venezuelas-gold.html

Stock, I thought that the price of silver would experience a pull back, maybe even to $36 after the debt deal was announced.

Surprised it did not, but exploded to the upside.

In all seriousness, any insight as to the reaction of the markets going against expected wisdom?

Blue,I think if you give Tom a call you will learn what is driving the buying.

Top Hat

(Tell him I said "Hi")

I do see a short term drop in price when the debt deal is announced.

There should be a good entry point after this.

The whole reason for the rise in PM price will not have disappeared, but been made stronger by the debt deal.

Prices will then continue to rise over the longer term.

May not really begin to play out till 2012 or 13. But play out it will.

They cannot kick the can down the road that much longer.

I agree with everything you wrote. Everything.

At some point, however, no one will any longer loan us any money. It may take a year, or 10, but it is assured.

This is when the fun begins.

All it would take is one good event and the lack of trust spiral will begin.

IMO, it's just a matter of time. We will have civil unrest well before the economic chickens come home to roost.

When people can no longer afford gas, this is when the first shoe falls.

You wrote: Really not that hard to look at the data and make your own conclusions.

Apparently it is. So lets try this again. Remember, this is old data. But before you get to the repost lets ask:

Assuming the interest rate goes up to 10%. What is the interest payment for 15 Trillion at 10%? Answer: Almost all the revenue we take in. You are missing the forest, Forrest.

There will be no money left to pay SS, Med, Mil, Gover, etc... except all borrowed money. At some point, that well runs dry when no one will loan us any more money. That's when the problems begin.... but it will be too late. PM's will go parabolic...

So, lets try again with old data: (I use this cause even the simple can understand – at least those who WANT to).

My Troubled Relative

I need your advice. I have a relative in financial trouble. He makes $50,000 a year, but he spent $74,591 last year, and his prospects of making $50,000 this year look kind of bad. There's a good chance he will get a pay cut.

Unfortunately, he’s been overspending for quite a while and has charged $295,632 on credit cards. He’s been lucky enough to get low teaser rates, and when those expired, he’s been able to transfer the balances to other low rate cards. So he keeps charging $24,591 per year beyond his income. If he can’t keep rolling over his debt at super low rates the interest will quickly eat him up.

But, that's not his worst problem . He convinced his family he was a great investor. His parents gave him a portion of their income for many years, and he promised he would make regular payments to them, and cover their medical care, when they got too old to work. The problem is, he spent all the money. He also has dependents who are poor, and he promised to help them out too. He needs $2,372,953 sitting in a bank account earning an interest rate that keeps up with inflation. But the money is all gone.

So what should he do? Well, his Republican friends, who say they are responsible with money, have decided he must really cut spending to get things under control. There are lots of things he can live without, so he should reduce spending by $1,292 per year. His Democrat friends say that’s too much. It would be a great hardship to cut spending that drastically, and $137 should be about right.

So here’s the picture:

$50,000: Income
$74,591: Expenses
$24,591: Deficit
$295,632: Short-term revovling debt at artificially low rates
$2,372,632: Unfunded promises
$1,292: Republican friends budget cuts
$137: Democrat friends budget cuts
So, what does the future look like for my Uncle Sam? Do you think he can keep going like this much longer? What about his family that’s counting on the promises he made to them? Do you see any possible solution other than bankruptcy?

Multiply the above numbers by 47,620,000 and you get the fiscal picture for the United States Government in 2010:

$2.381 Trillion: Revenuw
$3.552 Trillion: Budget
$1.171 Trillion: Deficit
$14.078 Trillion: Debt
$113 Trillion: Unfunded Liabilities (Social Security, Medicare, Medicaid)
$0.0615 Trillion ($61.5 Billion): Republican proposed budget cuts
$0.0065 Trillion ($6.5 Billion): Democrat proposed budget cuts

http://www.chrismartenson.com/blog/how-explain-current-economic-situation-friends-and-family/54409?

So, you who believe that the government doesn’t have to pay its obligations and can fail to do so with no repercussions…
What is your answer??? How will the government solve it’s fiscal problem….???

You really don't have a real answer except to put you head in the sand or deny the problem (which is what you did when you said the government didn't have to pay).

Enjoy your fiat currency while I sip coconut drinks from Costa Rica!

SS00, you wrote: "There is nothing forcing the government to pay a single cent of that money. We only owe a few trillion to foreigners. Thats the only debt that poses a risk to the value of the dollar."

Really? Really????

So, the 20 year old, now 50 who has been forced to pay SS for 30 years won't have a problem when the Gov say: sorry.

The current retirees living on their SS check will roll over.

All the wealthy who have gov. bonds, as a large part of their savings and retirement will say: no problem.

The young ones watching what is happening and is currently 30. They are watching when the Goverment defaults on its citizens and says: I will keep paying into SS.

The current government employees who are now beginning to have their retirement accounts confiscated and replaced with Gov IOU's will just say: Oh well.

Really? Really??? The Government dosen't have to pay? Did you see what happened in Wisc when the employees were asked to pay only 6% of their healthcare? Really? They don't have to pay.

There is coming a civil unrest you can't imagine.

So, you have had to reduce your argument to: the government doesn't have to pay. That is a sorry argument to die on.

Enjoy your fiat currency when it breaks loose.

Fiat currency has always failed. Always.

Let me repeat: Always!!!

It will happen to us also.

Maybe when we have to cut our entire budget by 50% so the rest can pay interest on the debt when our ratings go down the toilet because we are 100 Trillion in unfunded liabilities.

Maybe it will be when we totally default.

Maybe it will happen when inflation hits 20 or more %.

But it will happen.

Good luck and Enjoy holding your fiat currency which has already lost 98% of its value to gold/silver over the last 100 years.

I sold at $46 on the first run and bought back at $36.

I am holding physical since $10.

I understand a profit, don't get me wrong.

But we will be clammoring for physical when the currency blows up and I am preparing for that, as well as speaking and warning those nimrods who haven't a clue about how bad a shape our nation is in.

(Which is why I posted the bit about having a friend in trouble.)

SS00, you wrote:


3. Hyperinflation. Only way hyperinflation will occur is if the government spontaneously spends another several trillion. If the credit bubble pops again there is no possible scientific case for hyperinflation. It is important to note that hyperinflation has only historically occurred when the global economy was strong in relation to that particular country's economy. (True for Zimbabwe, Weimar, Hungary, and even way back with the French.)


Really doubt you understand real hyperinflation and its beginnings. I've been behind the Iron Curtain and watched it first hand. I have had to pay double the same day as people lost faith in the currency.

It occurs partially because of the above (the debt), but mostly when a nation, or the people lose faith in the currency.

In the case of the US, it can and will happen w/o us spending another trillion. It will happen when the world, and or enough of the citizens lose faith in the currency and move to another. It will happen when no one else will buy the bonds. It will happen when they have to print as a response to the loss of faith, not print for printing sake. It is the loss of faith that is the spark for hyperinflation, not really the debt itself. (Though we both would agree that the debt - the printing of $ is a front issue).

I would argue that it occurs when the loss of faith happens, not the amount of debt.

Yes, this is a well known issue. Yes, I know (thought) of that.

My point is that this is not 1979. In 1979 we did not have:

almost 15 TRILLION debt,
over 100 Trillion unfunded promises,
more unfunded liabilities on the way,
the world in total talking about a different currency
the world moving AWAY from the dollar and losing faith in the US currency.

blah, blah, blah.

When people lose faith in the dollar, (which they will can we will eventually default - either to the debtors (social security recipients, or other tax payers, bond holders, etc, or to the world and say screw you, or inflate our way out,.....

Gold and Silver will be the best option. Hands down. Sorry, it won't be $20. as you posted.

So, wise one, how are we gonna get out of the mess we are in (that I posted about)???

Short sighted?

I trust physical more than fiat.

Read the following and let me know how we are gonna get out of the mess:

How to Explain the Current Economic Situation to Friends & Family

Use the following story about: My Troubled Relative

I need your advice. I have a relative in financial trouble. He makes $50,000 a year, but he spent $74,591 last year, and his prospects of making $50,000 this year look kind of bad. There's a good chance he will get a pay cut.

Unfortunately, he’s been overspending for quite a while and has charged $295,632 on credit cards. He’s been lucky enough to get low teaser rates, and when those expired, he’s been able to transfer the balances to other low rate cards. So he keeps charging $24,591 per year beyond his income. If he can’t keep rolling over his debt at super low rates the interest will quickly eat him up.

But, that's not his worst problem . He convinced his family he was a great investor. His parents gave him a portion of their income for many years, and he promised he would make regular payments to them, and cover their medical care, when they got too old to work. The problem is, he spent all the money. He also has dependents who are poor, and he promised to help them out too. He needs $2,372,953 sitting in a bank account earning an interest rate that keeps up with inflation. But the money is all gone.

So what should he do? Well, his Republican friends, who say they are responsible with money, have decided he must really cut spending to get things under control. There are lots of things he can live without, so he should reduce spending by $1,292 per year. His Democrat friends say that’s too much. It would be a great hardship to cut spending that drastically, and $137 should be about right.

So here’s the picture:

$50,000: Income
$74,591: Expenses
$24,591: Deficit
$295,632: Short-term revovling debt at artificially low rates
$2,372,632: Unfunded promises
$1,292: Republican friends budget cuts
$137: Democrat friends budget cuts
So, what does the future look like for my Uncle Sam? Do you think he can keep going like this much longer? What about his family that’s counting on the promises he made to them? Do you see any possible solution other than bankruptcy?

Multiply the above numbers by 47,620,000 and you get the fiscal picture for the United States Government in 2010:

$2.381 Trillion: Revenuw
$3.552 Trillion: Budget
$1.171 Trillion: Deficit
$14.078 Trillion: Debt
$113 Trillion: Unfunded Liabilities (Social Security, Medicare, Medicaid)
$0.0615 Trillion ($61.5 Billion): Republican proposed budget cuts
$0.0065 Trillion ($6.5 Billion): Democrat proposed budget cuts

http://www.chrismartenson.com/blog/how-explain-current-economic-situation-friends-and-family/54409?

It is now 2011 and worse! This is why some of us will hold silver.

Here is why I have switched!

I don't want to be left holding the bag when it becomes public that SLV might only have 1/100th the physical most people think...

I want to hold physical thru a fund.

http://seekingalpha.com/article/280781-the-comex-has-everything-to-fear-with-asian-entry-into-silver-market

Really? Tell them to email me also!

Many will curse the "Gang of Six" today.

That's the right thing to be doing IMO.

Probably those who are finding out about the Texas drill!

One isn't covered in glitter....

Ragtime, thanks for admitting the mistake.

You have always been one of the most stand up guys on the board.