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Delawhere Jack
Penny Hoarding Member
USA
515 Posts |
 Posted - 09/07/2008 : 10:51:28
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The only time better than Friday evening to announce controversial news it appears, is Sunday morning. The US Gov has taken control of the GSE's, and will open a new "lending window" (or will it be a GAPING HOLE) for them. But rest easy folks, Mr Paulson assures us that any lending will be on the FEDS TERMS!! How reassuring.
World PM spot market opens in a little over six hours. Eat an early supper, make some popcorn, open Kitco's page and watch the fireworks. It should make for some very interesting viewing.
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"Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion...when you see that in order to produce, you need to obtain permission from men who produce nothing...when you see your laws don't protect you against them, but protect them against you...when you see corruption being rewarded and honesty becoming a self-sacrifice...you may know that your society is doomed."
Ayn Rand, from Atlas Shrugged
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ScottyTX
Penny Pincher Member
USA
128 Posts |
Posted - 09/07/2008 : 11:42:30
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| Hold on, I'm assuming that it will go up because of this, along with India's 45% increase on imports for gold. I'm thinking it just might be a great time to buy, right now but my funds won't be here until next weekend sigh!!! |
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Delawhere Jack
Penny Hoarding Member
USA
515 Posts |
 Posted - 09/07/2008 : 12:03:30
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quote:
Originally posted by ScottyTX
Hold on, I'm assuming that it will go up because of this,
That's what makes it so interesting. Logic tells me PM's should go up on this news, and the dollar should drop. But nothing seems to be behaving logically lately. Equities, the dollar, PM's, oil, other commodities are all moving counter intuitively.
Silver is now around 37% below it's 200 day moving average (funny all the new terminology we're learning) which is historically unheard of. There's been a lot of speculation on why this has occurred, yet no smoking gun has been found!?! In our INFORMATION AGE noone can determine in short order who shorted PM's to so severly undercut them?
I won't even try to predict what's going to happen. I'm just eagerly awaiting the 15th to place another order. Think I'll get some ASE's to go with my Maples. Liberty is more attractive than the gal on the Maples, maybe that explains the higher premium.
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"Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion...when you see that in order to produce, you need to obtain permission from men who produce nothing...when you see your laws don't protect you against them, but protect them against you...when you see corruption being rewarded and honesty becoming a self-sacrifice...you may know that your society is doomed."
Ayn Rand, from Atlas Shrugged
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ScottyTX
Penny Pincher Member
USA
128 Posts |
Posted - 09/07/2008 : 12:22:36
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| I'm wanting a few rolls of the phil harmonics(spelling??), and maybe a case of the silver eagles, just trying to round up that much cash in about a week, should be interesting. I hope silver contiues to drop or stay roughly where it is now or I might get sick at my stomach. |
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HoardCopperByTheTon
Administrator
USA
3603 Posts |
Posted - 09/07/2008 : 13:18:19
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Going to a coin show today hunting more silver and gold.. should be interesting to see what spreads are today.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
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Delawhere Jack
Penny Hoarding Member
USA
515 Posts |
Posted - 09/07/2008 : 20:44:17
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As of 9:48 pm eastern, nothing too dramatic in the Asian market. We'll see what tomorrow brings in the US.
www.kitco.com The World Spot Price - Asia/Europe/NY markets
MARKET IS OPEN
(Will close in 19 hrs. 31 mins.)
Metals Date Time (EST) Bid Ask Change from NY Close
GOLD 09/07/2008 21:44 815.60 816.60 +12.70 +1.58%
Metals Date Time (EST) Bid Ask Change from NY Close
SILVER 09/07/2008 21:44 12.69 12.75 +0.47 +3.85%
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"Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion...when you see that in order to produce, you need to obtain permission from men who produce nothing...when you see your laws don't protect you against them, but protect them against you...when you see corruption being rewarded and honesty becoming a self-sacrifice...you may know that your society is doomed."
Ayn Rand, from Atlas Shrugged
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Edited by - Delawhere Jack on 09/07/2008 20:46:36 |
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ScottyTX
Penny Pincher Member
USA
128 Posts |
Posted - 09/07/2008 : 21:57:51
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ohh boy yeah I just checked it, its only 33c up right now, boy I am sure wishing it will stay under 13.00 before next weekend.
Scotty |
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moboman
1000+ Penny Miser Member
USA
1332 Posts |
Posted - 09/07/2008 : 22:12:23
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| I put off a trip to the coin store from today till tomorrow because I was working on moving into a new apartment. Now I'm mad at myself, debating on not going, but I want some more jackson metals bars! and I'm sure they wont be there if silver goes back down. |
I have a hard time resisting the temptation to take a wheat penny out of the take a penny cup when I see one! |
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Copper Catcher
Moderator
USA
594 Posts |
Posted - 09/08/2008 : 09:07:57
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Ok...help me get this right, the government takes over Fannie and Freddie, which together hold or guarantees $5 trillion in mortgages - almost half the nation's total and silver is dropping like a rock! This can mean only one thing! We are now in the Twilight Zone.
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DISCLAIMER: The opinions expressed in this message are those of the author and are considered for entertainment purposes only. It is not the intent of this author to provide legal, investment or medical advice and nothing posted here should be considered to be so. You are advised to seek independent counsel to act upon any laws discussed in this communication. |
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Copper Catcher
Moderator
USA
594 Posts |
Posted - 09/08/2008 : 09:19:33
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By the way, I might add, I believe this is on top of the national debt figure of over 9 Trillon!!! http://www.treasurydirect.gov/NP/BPDLogin?application=np
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DISCLAIMER: The opinions expressed in this message are those of the author and are considered for entertainment purposes only. It is not the intent of this author to provide legal, investment or medical advice and nothing posted here should be considered to be so. You are advised to seek independent counsel to act upon any laws discussed in this communication. |
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HoardCopperByTheTon
Administrator
USA
3603 Posts |
Posted - 09/08/2008 : 11:21:57
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| The slight drop in silver prices this morning is all my fault.. I bought a little yesterday.. 40 Englehard Prospectors and 20 Liberty Rounds.. So shiny! |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
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longhorn
Penny Sorter Member
67 Posts |
Posted - 09/08/2008 : 15:20:19
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| I wonder if George W. is still denying the government bailout of Freddie and Fannie. Strangely, I haven't heard of any comments by him on this. |
Obey Gresham's Law |
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fb101
Penny Hoarding Member
USA
894 Posts |
Posted - 09/08/2008 : 17:21:35
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| I'm thinking they knew this was coming so they pulled out all the stops to break the dollar downtrend before they pulled this trick off. Had this news hit 3 months ago..... whew! |
A materialistic society cannot afford credit, it will inevitably implode.
Life and success are a "do it yourself" thing |
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fb101
Penny Hoarding Member
USA
894 Posts |
Posted - 09/08/2008 : 17:31:26
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| I had to repost because after reading about the tear in the space time continuum, I've finally figured out what's going on. Everyone's been scratching their heads trying to figure out the next bubble, well I did. It's the dollar! |
A materialistic society cannot afford credit, it will inevitably implode.
Life and success are a "do it yourself" thing |
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Delawhere Jack
Penny Hoarding Member
USA
515 Posts |
Posted - 09/08/2008 : 17:43:32
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Maybe this madness will be stopped cold. Courts could derail Fannie and Freddie bailout plan
http://yourmortgageoryourlife.wordpress.com/2008/09/08/courts-could-derail-fannie-and-freddie-bailout-plan/
Anthony M. Freed
Excerpt:
Each share of Fannie and Freddie amounts to a vote in the GSE’s governance. These votes have been effectively seized illegally in violation of both the Fourth Amendment and the Fourteenth Amendment to the Constitution of the United States of America.
In a case of Illegal Seizure of property by the Government, it would be highly likely that the Courts would order that the Government to compensate those damaged by the seizure with the fair market value of the seized property.
This would put a big damper in the Government’s Plan to screw the stockholders while they Bailout Their Chinese Overlords - remember, we have to keep these guys happy so they will keep lending us money to keep the Government Open and functioning - as well as rescuing the soon to be Fondooed Regional Banks.
Any attorneys out there looking to make a name for themselves? TenBears?
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"Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion...when you see that in order to produce, you need to obtain permission from men who produce nothing...when you see your laws don't protect you against them, but protect them against you...when you see corruption being rewarded and honesty becoming a self-sacrifice...you may know that your society is doomed."
Ayn Rand, from Atlas Shrugged
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New "Lending window" for Freddy and Fanny
