17 km ( 11 mi) E of La Pine, OR
3 km ( 2 mi) E of Bend, OR
Yesterday, saw a huge drop in Gold, which made a recent high at $1755, when a massive 24 tonne sell order (7,800 contracts) hit the market at 08:20 a.m. New York time. The range for the day was from $1743.10 to $1705.50. Gold finished off 21.40.
Ross Norman, CEO at Sharps Pixley thinks it was not profit taking, for a trader would ease himself out of the market, rather than dump 24 tonnes in a five minute period. Norman thinks it was a short seller or someone short trying to panic the shorts. An obvious sell point is $1700 just under the last pullback (see chart).
None of our sell stops on Gold and Silver were triggered yesterday.
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A Psalm of Obama
(To be sung by children, K-12, every morning of their seven-day school week.)*
The State is my shepherd,
I shall not want.
It makes me lie down in federally owned pastures.
It leads me beside quiet waters in banned fishing areas.
It restores my soul through its control.
It guides me in the path of dependency for its namesake.
Even though our nation plunges into the valley of the shadow of debt,
I will fear no evil,
For Barack will be with me.
The Affordable Care Act and food stamps,
They comfort me.
You prepare a table of Michelle Obama approved foods before me in the presence of my Conservative and Libertarian enemies.
You anoint my head with hemp oil;
My government regulated 16-ounce cup overflows.
Surely mediocrity and an entitlement mentality will follow me
All the days of my life,
And I will dwell in a low-rent HUD home forever and ever.
Thanks to Doug Giles
A fabric that can be washed by the sun? That’s soon to be possible and will work especially well in places where water is scarce.
Scientists from IIT Delhi and other institutes are working on textiles that wouldn’t pick up dirt, and even if they do after prolonged use, the clothes could be “washed” in sunlight . In short, detergents are out!
At the heart of the revolutionary changes is nanotechnology.
deals with materials at nano size (1-100 nm) level where the properties of material alter dramatically as their size and shape is changed in the nanometer range.
The coating of nano titanium dioxide particles in clothes has ‘photocatalytic properties’ which can break dirt particles in the presence of sun light.
By Richard J. Maybury
To me, this is the problem: The essence of government â€“ the characteristic that sets it apart from all other institutions â€“ is that it has the legalized privilege of using brute force on persons who have not harmed anyone. Overtly or covertly, this privilege backs almost everything government does.
Who would not be corrupted by the use of this power? Please, give me the person’s name.
Here is another way to look at political power. There are two laws taught by all religions: Do all you have agreed to do, which is the basis of contract lawâ€¦ And do not encroach on other persons or their property, which is the basis of tort law and some criminal law.
Political power is the privilege of violating these laws.
Who would not be corrupted by this?
Today’s federal government is so powerful that if we filled the House, Senate, and White House with saints and angels, in six months they’d all be wackos.
To expect government to produce something that has benefits greater than costs is to expect the nearly impossible. In most cases, government isn’t the solution to mankind’s problemsâ€¦ it’s the cause.
The only lasting remedy is one any of the American founders would have recommended: Less government today, even less tomorrow, and so on, until we need a microscope to find it.
We have the opposite. The Keynesian polices of tax, spend, borrow, print, subsidize, and regulate are what got us into this mess, and the blockheads in Washington think more of the same will get us out.
Their new medical system and its taxes are icons of their attitude, which can be summarized as, “The torture will continue until morale improves.”
To sign up for Richardâ€™s Early Warning Report â€“ and learn more about the “War Economy” and some other special offers â€“ click here.
There’s a secretive group that meets four times a year writes Bruce Pile at Seeking Alpha. In 1988, this secretive group issued Basel I and in 2004 it was Basel II. And now in 2012, they are issuing Basel III.
Both Basel I and II took the then fashionable view of what money is – government bonds, mortgage backed securities, cash, etc. Gold was included in what they allow as capital, but as a “tier 3 asset” (not real money), and thus was only allowed to be reserves for loans at just 50% of its market value, much like, say an art collection would be.
What is Basel III? Basel III rules are set to go into effect January 1, 2013 and changes Gold from tier 3 asset toÂ tier 1. That means Ben Bernanke will have to change his tune to: “Yes, Gold is money!” Central banks have already begun to purchase Gold as part of their reserves. “The World Gold Council revealed net central bank purchases in 2011 exceeded 455 tonnes (14.5 million ounces), the largest purchases since 1965. And it reported banks will purchase 700 tonnes (22 million ounces) of gold for this year alone…”
To just get back to the gold/currency balance averaged over the decade of the ’80s, gold would have to increase in price some 15 fold.
Copyright © 2007 Mover Mike. Design by Anthony Baggett.