tag:blogger.com,1999:blog-4490468598422095060.post7597991710228841257..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: Merry Christmas North KoreaFOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger150125tag:blogger.com,1999:blog-4490468598422095060.post-82844798474243699062011-12-31T06:30:41.886-08:002011-12-31T06:30:41.886-08:00AN wrote:
"Yet somehow there is still percei...AN wrote:<br /><br />"Yet somehow there is still perceived value in the dollar. Amazing, but political in my mind."<br /><br />You've made some interesting observations. You've no doubt heard, many times, the metaphor of the ocean liner that turns very slowly. Perhaps one could say that the $IMF system is akin to a fleet of aircraft carriers. Having said that, and to deviate Edwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-57647721269801111112011-12-30T21:45:42.452-08:002011-12-30T21:45:42.452-08:00I might take those odds, but it would depend on wh...I might take those odds, but it would depend on who the secured creditors were.<br /><br />Credit and base money both buy things, so if I can control them, there is no stopping me. <br /><br />Buy my 2% debt and I'll give you this payment protection plan, which you can leverage up or sell or better yet, offset with this guy's payment plan.<br /><br />Every single weakness has been Aiionwatha's Nationhttps://www.blogger.com/profile/17333816591160312091noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-14570963547351319562011-12-30T21:18:23.798-08:002011-12-30T21:18:23.798-08:00Hi Edwardo,
Australia and South Africa (at minimu...Hi Edwardo,<br /><br />Australia and South Africa (at minimum) are a dead certainty in my opinion. Australia because, back in 1997, that is what the RBA said it would do if we needed to replace the reserves. And SA because there is already a vocal movement advocating a takeover of the gold mines.<br /><br /><br />AN,<br /><br />I may be reading your comment incorrectly. This could be read two costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-49129758890517999702011-12-30T20:17:07.874-08:002011-12-30T20:17:07.874-08:00I agree the miners are a bad play for three key re...I agree the miners are a bad play for three key reasons: share dilution assocaited with acquiring new properties, government intervention like GM, and forward demands associated with market forward delivery to the source of their financing.<br /><br />I agree with just about everything FOFOA has written, but I think you have to look deeper into the development of the futures and derivatives Aiionwatha's Nationhttps://www.blogger.com/profile/17333816591160312091noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-75998653516670842522011-12-30T19:07:42.953-08:002011-12-30T19:07:42.953-08:00Costata wrote:
"Does a rising gold price mak...Costata wrote:<br /><br />"Does a rising gold price make the assets of a gold miner more or less attractive to a sovereign up to their eyeballs in debt?"<br /><br />And to think that, back in the halcyon days of '08 that some of us thought it was going to be the big money center banks that would be nationalized. Au contraire, it was going to be mining companies that would, in effectEdwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-74879422226047047852011-12-30T18:42:24.775-08:002011-12-30T18:42:24.775-08:00Gold Mining Stocks
Check out this analysis of gol...<b>Gold Mining Stocks</b><br /><br />Check out <a href="http://www.safehaven.com/article/23820/junior-gold-carnage?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+safehaven%2Fall-articles+%28Safehaven+-+Most+Recent+Articles%29&utm_content=My+Yahoo" rel="nofollow">this analysis</a> of gold mining stocks from Adam Hamilton's business partner. How's this for completelycostatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-79004705911448325382011-12-30T15:54:11.513-08:002011-12-30T15:54:11.513-08:00/Continued
Part 2/2
In practice, the EU/IMF adju.../Continued<br /><br />Part 2/2<br /><br /><i>In practice, the EU/IMF adjustment programmes are not likely to result in a substantial reduction in net borrowing requirements, but instead in a change in their composition. <b>Public sector net borrowing requirements may fall in the short run, but private sector net borrowing requirements will likely increase. Since the private sector is unable to costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-15916179940263101482011-12-30T15:53:29.520-08:002011-12-30T15:53:29.520-08:00How Do You Solve A Trade Imbalance?
Part 1/2
If ...<b>How Do You Solve A Trade Imbalance?</b><br /><br />Part 1/2<br /><br />If you are the IMF you do this:<br /><i>…. the EU/IMF adjustment programme affects the entire internal demand indiscriminately (106.5% of GDP). <b>It is, in effect, like using a sledge-hammer to crack a nut.</b></i><br /><br />Instead of this:<br /><i>Fiscal devaluation policy aims at replicating, through the rebalancing ofcostatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-42543419168116725522011-12-30T14:57:57.144-08:002011-12-30T14:57:57.144-08:00JR! :D
You quoted: "The last London gold fix...<a href="http://fofoa.blogspot.com/2011/12/merry-christmas-north-korea.html?showComment=1325261507297#c3961065852950800607" rel="nofollow">JR!</a> :D<br /><br />You quoted: <i>"The last London gold fix of 2011 came in at $1,574.50 per ounce – some 11.6% higher from the end of 2010, and recording gold's 11th year of consecutive gains."</i> <br /><br />Indeed! And the last fix in FOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-29805147033821253262011-12-30T14:22:52.662-08:002011-12-30T14:22:52.662-08:00ECB - Euro
Sterilizing the LTRO:
Only 14.5 billi...<b>ECB - Euro</b><br /><br />Sterilizing the LTRO:<br /><br /><i>Only 14.5 billion Euro left in circulation from LTRO: ECB was 29bn Euro yesterday h/t Delusional Economics</i><br /> <br />from the MacroBusiness blog here:<br /> <br />http://www.macrobusiness.com.au/2011/12/december-30-links/<br /><br />The LTRO program was around 500 billion Euro if memory serves me. So 15 billion amounts to costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-22307857239846264922011-12-30T14:09:57.737-08:002011-12-30T14:09:57.737-08:00DP, good point. The ECB, having no dollar printin...DP, good point. The ECB, having no dollar printing press that I am aware of, will borrow the dollars from the Fed via a currency swap line so it can bid up gold and end the dollar hegemony. I am sure the Fed will be perfectly fine with that, no problemo! <br /><br />I think this would actually work with the Yen, now that I think about it. I think they are pretty desperate to have a much Texanhttps://www.blogger.com/profile/02676648339246724302noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-83487827854396645302011-12-30T14:07:14.848-08:002011-12-30T14:07:14.848-08:00Ex-Fed Governor Warsh again confirms gold price su...Ex-Fed Governor Warsh again confirms gold price suppression...<br /><br />"policy makers are finding it tempting to pursue 'financial repression' -- suppressing market prices that they don't like." He added, "Efforts to manage and manipulate asset prices are not new." <br /><br />http://www.gata.org/node/10839enoughhttps://www.blogger.com/profile/11559197548302862165noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-56097786814796510542011-12-30T14:02:43.673-08:002011-12-30T14:02:43.673-08:00ECB bidding like mad for gold, with what?
With d...<i>ECB bidding like mad for gold</i>, with what? <br /><br />With dollars.<br /><br />Dollars bid for gold. Gold bids for euros.<br /><br />One of these currencies is NOT like the others. <br />One of these currencies isn't the same.<br />Can you tell which currency is not like the others,<br />Before I finish my song?<br /><br />Happy New Year, grampa lemon (and everyone else, especially DPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-49401090303505632742011-12-30T14:01:22.775-08:002011-12-30T14:01:22.775-08:00This comment has been removed by the author.mr pinnionhttps://www.blogger.com/profile/02141885907635151093noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-60755633032784537062011-12-30T13:59:21.072-08:002011-12-30T13:59:21.072-08:00Russia and China
Mutual distrust, hard-nosed busi...Russia and China<br /><br /><i>Mutual distrust, hard-nosed business styles and a fear of dependency have hurt what could be a symbiotic relationship between the world’s largest petroleum producer and its biggest energy consumer.</i><br /><br />http://www.washingtonpost.com/world/china-finds-promise-and-peril-in-pursuit-of-russian-energy/2011/11/27/gIQA1H9hzO_story.html<br /><br />Interesting costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-3858078820643459642011-12-30T13:24:44.165-08:002011-12-30T13:24:44.165-08:00Victory, if I understand JR correctly, he thinks t...Victory, if I understand JR correctly, he thinks that if the Euro sovereigns default on their PAPER (or are about to default, I am not sure which), the "ECB" will somehow save the euro (or is it the sovereigns?) by selling the "euro gold" which is on the "ECB balance sheet" (but I think is actually owned by the defaulting sovereigns, so I am not really sure how the Texanhttps://www.blogger.com/profile/02676648339246724302noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-40867494578948840292011-12-30T12:43:54.901-08:002011-12-30T12:43:54.901-08:00a date that I believe is relavant to that timeline...a date that I believe is relavant to that timeline.<br /><br />Nov 10, 2001 – China is admitted to the World Trade OrganisationNickelsaverhttps://www.blogger.com/profile/17252539946241943478noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-3580374159354752602011-12-30T10:17:33.151-08:002011-12-30T10:17:33.151-08:00Happy New Year!
FOA: Several years ago, many gold...Happy New Year!<br /><br /><b>FOA: Several years ago, many gold bugs and gold advocates missed the path as the trail turned. Something I pointed out at the beginning of these "message" talks. As most of you will no doubt agree, almost all gold discussion still centers around "the dollar's war with gold". Truly, the evolution of this story will be how that war ended then JRhttps://www.blogger.com/profile/16345441084565082627noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-89068914530017895582011-12-30T09:46:36.774-08:002011-12-30T09:46:36.774-08:00Lots of ways to look at that 11.6% gain.It s barel...Lots of ways to look at that 11.6% gain.It s barely kept pace with inflation.It s also better than holding your value in cash.<br />I ll give it till middle of 2012.<br />Things will be a lot more clear at that stage, me thinks.<br /><br />Regards<br />A LeggAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-38412758981917823072011-12-30T09:30:08.441-08:002011-12-30T09:30:08.441-08:00@JR:
Yes yes, but when one is brainwashed with RP...@JR:<br /><br />Yes yes, but when one is brainwashed with RPG and super high prices, 11.6 % goes something like this: <br /><br /><b><i>Parturient montes, nascetur ridiculus mus.</i></b><br /><br />Anyway, Happy New Year! :-)Dante_Euhttps://www.blogger.com/profile/13208538005188466169noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-33636475375734582632011-12-30T08:45:10.727-08:002011-12-30T08:45:10.727-08:00another good post by Chris Powell at GATA
http://...another good post by Chris Powell at GATA<br /><br />http://www.gata.org/node/10835enoughhttps://www.blogger.com/profile/11559197548302862165noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-39610658529508006072011-12-30T08:11:47.297-08:002011-12-30T08:11:47.297-08:00link
The last London gold fix of 2011 came in at...<a href="http://www.resourceinvestor.com/News/2011/12/Pages/Gold-Price-Rallies-to-End-2011-with-11th-Straight-Annual-Gain-Up-11-as-World-Equities-Lose-8--30-December-2011-.aspx" rel="nofollow">link</a> <br /><br /><b>The last London gold fix of 2011 came in at $1,574.50 per ounce – some 11.6% higher from the end of 2010, and recording gold's 11th year of consecutive gains.</b>JRhttps://www.blogger.com/profile/16345441084565082627noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-22274060267439235422011-12-30T07:29:04.968-08:002011-12-30T07:29:04.968-08:00cont.
Currency value is all about demand.
Making...cont.<br /><br />Currency value is all about demand.<br /><br />Making sure physical gold is always readily available for sale at a floating price prevents a currency from collapsing.<br /><br />The Eurosystem holds 10,800 metric tons of gold, roughly one third of world gold reserves. <br /><br />So the moment all savers go, " oh, sh1t", where can I get some gold," where do they JRhttps://www.blogger.com/profile/16345441084565082627noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-34110372680265683802011-12-30T07:20:51.568-08:002011-12-30T07:20:51.568-08:00cont.
from the same Euro gold comment refere...cont.<br /><br />from the same <a href="http://fofoa.blogspot.com/2011/07/euro-gold.html?showComment=1310618094160#c1166225796087794509" rel="nofollow">Euro gold comment</a> referenced in <a href="http://fofoa.blogspot.com/2011/12/unambiguous-wealth.html?commentPage=2#c7570720871422186366" rel="nofollow">"that"</a> same comment we have been discussing <a href="http://JRhttps://www.blogger.com/profile/16345441084565082627noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-48019119336325557102011-12-30T07:12:11.295-08:002011-12-30T07:12:11.295-08:00cont.
So like think about it in terms of "is...cont.<br /><br />So like think about it in terms of "is there demand for the currency." Certainly currency management issues like "printing money" impact demand, but its really all about demand.<br /><br />Victory, I was responding to this: "<i>JR, you once said that if any of the Euro Sov’s defaulted it would explode the price of gold. I asked you what you meant by thatJRhttps://www.blogger.com/profile/16345441084565082627noreply@blogger.com