Zed,
"lapsed atheist" leaves you on the fast lane to hell with no pain killer (per Marx, "religion is the opiate of the masses").
Grym, like most here I read your writings with respect, but by allowing a bunch of religious extremist to define our attitude to a religious group, we risk undermining one of the foundations of our country.
I haven't let my atheism lapse, but I'm happy to let everyone else practice their religion as they wish, as long as they don't attempt to impose it on the rest of us.
Incidentally, I think you'll find common ownership between Fox News and the (UK)Times.
Hallgarten mining analyst Christopher Ecclestone suggested Monday that there is "trouble in paradise" because gold ETFs diverted funds that might have otherwise gone to a broader universe of mining stocks.
"It has created an unworthy aristocracy of stocks, particularly in the gold space," he insisted. http://tinyurl.com/3a9otwv
Implication to me is that dealmakers may be the "best" investments e.g. KGC, NGD and perhaps anything McEwen related.
FD: long KGC, NGD, and many from the McEwen stable
I think the best reason for abolishing income tax is that its an abomination. Why is it so complex that you need software to produce your return? Because of all the "breaks" given to special interests that can't be made available to the "average Jo", so fill the tax code with enough complexity that we all waste hours trying to ensure that we're taking advantage of the breaks "allowed" to us but not risking an audit which might cost us nothing but lost time and sleep.
Abolish income taxes, and you no longer need an IRS - all those people that might be doing something productive with their lives.
Replace it with a consumption tax (VAT or simple sales) and you've freed the producers and savers from a burden, and placed it upon those who choose to spend. I know this is typically considered regressive, but the rich spend more because their toys are "better" than mine. Food and staples can be taxed at a lower rate. Sorry kaimu, but orchids are likely going ot be hit hard.
Side benefit might be reduced imports, since so much of our consumption is imported.
"The Budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance of foreign lands should be curtailed lest the Republic become bankrupt. People must again learn to work, instead of living on public assistance."
Thanks to Northern Otoko and Menock for their responses. I guess I knew at the back of my mind that mining narrow veins was a complicated business, having tried to envision how I would try and do it, and now I have links to research reality.
This is basically a repeat of a previous question to which Bill responded but nobody answered, so apologies for harping, but perhaps over the weekend a mining engineer will be able to answer:
What is a practical mining width for modern practices. It arose because Rainy River has some excellent grades, but mostly only 1.5 meters wide, so unless they've contracted with Snow White for her seven dwarfs there's bound to be some dilution, and I'd like to get some idea of what it is. (Note they've also had one intersection that's quite wide).
Another question someone may be able to answer concerns the Fire River property called Nixon Fork where they're finding delicious grades from the previous operator's drill cores. Anyone know who was the previous operator? (Need to be able to avoid them, as they seem to have let a pearl get away).
"The U.S. government can make sure dollars circulate, but each dollar they print buys less. The only value in any paper currency or what is called fiat currency derives from confidence in the underlying issuer. The Fed printing dollars endlessly without concern for U.S. debt—that's the darkest hour I see.
In prior periods of hyper inflation, keeping your wealth in bank accounts was probably one of the worst places to keep it. Such periods drives everybody who wants to survive to become a speculator, to take on debt, to do all the things that aren't prudent in normal times. But in these days, an era where the government is printing huge amounts of money, it is the prudent, the conservative, the majority of citizens who are the most harmed."
PAL certainly sold a lot more stock, but I suspect the key is the warrants. I'm guessing that some of the buyers of the financing are shorting the stock against the warrants, thereby driving down the price of the common. As I recall, they're also moving into gold mining (or more precisely, exploring) which may add some more buzz in the future. I interpret the stock as possibly near the bottom of an upchannel from March 09 needing to break a steep 9 day down trend with stochastics showing it becoming oversold. Currently no position. Respect Bill's take on the fundamentals, so only a trade as long as it works.
I have a small "investment" (i.e. a bit underwater) in Origin Oil OOIL which is developing the use of Algae to produce liquid fuels from concentrated CO2 sources like smokestacks. Could be equivalent of pyrite - fool's fuel. Definitely a DYODD.
Just as the heavy use of antibiotics contributed to the rise of drug-resistant supergerms, American farmers’ near-ubiquitous use of the weedkiller Roundup has led to the rapid growth of tenacious new superweeds.
To fight them, Mr. Anderson and farmers throughout the East, Midwest and South are being forced to spray fields with more toxic herbicides, pull weeds by hand and return to more labor-intensive methods like regular plowing.
“We’re back to where we were 20 years ago,” said Mr. Anderson, who will plow about one-third of his 3,000 acres of soybean fields this spring, more than he has in years. “We’re trying to find out what works.”
PapaD - if you have available time, could you please ask how he sees the future for Minera Andes relationship with Hochschild and perhaps his thoughts on the current management of Minera. (They see to have more legal problems than most, and I'm wondering if this is going to be a serious damper on the company's progress). TIA, Chris.
FD long UXG, RBY, MNEAF
Bill's RSI tool show's NGD in distribution zone for last 6 days. IMHO if you have to ask the board, you may want to review what you were thinking when you bought. No one can answer your question but yourself. FWIW, some people sell a partial position just to lock in profits, but that doesn't answer your question. You may want to search on posts by papadynamite who's been active in UXG, but as always DYODD.
Edit - In fact see his post below #62045
GS, like any other corporation, exists to make a profit. The reason they are in the present position is because they were efficient at exploiting the environment created by the very same people interrogating them. Congress needs to look in the mirror to find the source of the problem. My guess is that the only way to prevent excessive leverage is a return to the gold standard, and I don't expect that to happen until its too late. I'm an optimist by nature, so find this depressing. As an aside, the miners were treated more like paper than reserves in the ground today. Added a little GRS.
Guess I'm being particularly dumb today, cramming for DENSA, but I'm not seeing what the big deal is. We have GS arranging an OTC trade between Paulson who takes a position on the short side, and ACA et al who take the long side of some financial entity that turns out to be garbage, which shows Paulson was the smarter. What else?
Well as I understand it, the bigger issue is synthetic CDOs which are comprised of CDS on real CDOs, so it comes back to the idea of trading insurance on something you don't own, like taking out life insurance on your neighbor. Question then is, what, if anything, should be done to regulate this. I would not like to learn that someone will benefit from my death, though it seems reasonable that companies that depend on a single individual for much of their value would want to cover that risk. Do we need to require that all CDS be attached to the entity they're insuring?
Anyone know what constitutes a practical width for modern (as opposed to artisan) mining. I'm keeping an eye on Rainy River after Bill's head up, and they seem to have high grade ore, but over narrow widths. I would expect that mining with machines rather than pick and shovel requires some minimum size of hole, which would mean diluting the ore grade.
Zed,
"lapsed atheist" leaves you on the fast lane to hell with no pain killer (per Marx, "religion is the opiate of the masses").
Grym, like most here I read your writings with respect, but by allowing a bunch of religious extremist to define our attitude to a religious group, we risk undermining one of the foundations of our country.
I haven't let my atheism lapse, but I'm happy to let everyone else practice their religion as they wish, as long as they don't attempt to impose it on the rest of us.
Incidentally, I think you'll find common ownership between Fox News and the (UK)Times.
Hallgarten mining analyst Christopher Ecclestone suggested Monday that there is "trouble in paradise" because gold ETFs diverted funds that might have otherwise gone to a broader universe of mining stocks.
"It has created an unworthy aristocracy of stocks, particularly in the gold space," he insisted.
http://tinyurl.com/3a9otwv
Implication to me is that dealmakers may be the "best" investments e.g. KGC, NGD and perhaps anything McEwen related.
FD: long KGC, NGD, and many from the McEwen stable
I think the best reason for abolishing income tax is that its an abomination. Why is it so complex that you need software to produce your return? Because of all the "breaks" given to special interests that can't be made available to the "average Jo", so fill the tax code with enough complexity that we all waste hours trying to ensure that we're taking advantage of the breaks "allowed" to us but not risking an audit which might cost us nothing but lost time and sleep.
Abolish income taxes, and you no longer need an IRS - all those people that might be doing something productive with their lives.
Replace it with a consumption tax (VAT or simple sales) and you've freed the producers and savers from a burden, and placed it upon those who choose to spend. I know this is typically considered regressive, but the rich spend more because their toys are "better" than mine. Food and staples can be taxed at a lower rate. Sorry kaimu, but orchids are likely going ot be hit hard.
Side benefit might be reduced imports, since so much of our consumption is imported.
"The Budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance of foreign lands should be curtailed lest the Republic become bankrupt. People must again learn to work, instead of living on public assistance."
Marcus Tullius Cicero, 55 BC
http://tinyurl.com/22rwwrz
Don't have a graphic, but there's another follow up to the tree/forest question:
If a man speaks and no woman hears him, is he still wrong?
Serious money now backing Bullion Vault should add to their credibility for those looking to hold gold offshore:
http://www.telegraph.co.uk/finance/newsbysector/ba...
I suspect they're a little more convenient than the Perth Mint, but haven't compared their costs.
Thanks to Northern Otoko and Menock for their responses. I guess I knew at the back of my mind that mining narrow veins was a complicated business, having tried to envision how I would try and do it, and now I have links to research reality.
This is basically a repeat of a previous question to which Bill responded but nobody answered, so apologies for harping, but perhaps over the weekend a mining engineer will be able to answer:
What is a practical mining width for modern practices. It arose because Rainy River has some excellent grades, but mostly only 1.5 meters wide, so unless they've contracted with Snow White for her seven dwarfs there's bound to be some dilution, and I'd like to get some idea of what it is. (Note they've also had one intersection that's quite wide).
Another question someone may be able to answer concerns the Fire River property called Nixon Fork where they're finding delicious grades from the previous operator's drill cores. Anyone know who was the previous operator? (Need to be able to avoid them, as they seem to have let a pearl get away).
TIA,
Chris
and talking his book:
http://www.theaureport.com/pub/na/6490
"The U.S. government can make sure dollars circulate, but each dollar they print buys less. The only value in any paper currency or what is called fiat currency derives from confidence in the underlying issuer. The Fed printing dollars endlessly without concern for U.S. debt—that's the darkest hour I see.
In prior periods of hyper inflation, keeping your wealth in bank accounts was probably one of the worst places to keep it. Such periods drives everybody who wants to survive to become a speculator, to take on debt, to do all the things that aren't prudent in normal times. But in these days, an era where the government is printing huge amounts of money, it is the prudent, the conservative, the majority of citizens who are the most harmed."
PAL certainly sold a lot more stock, but I suspect the key is the warrants. I'm guessing that some of the buyers of the financing are shorting the stock against the warrants, thereby driving down the price of the common. As I recall, they're also moving into gold mining (or more precisely, exploring) which may add some more buzz in the future. I interpret the stock as possibly near the bottom of an upchannel from March 09 needing to break a steep 9 day down trend with stochastics showing it becoming oversold. Currently no position. Respect Bill's take on the fundamentals, so only a trade as long as it works.
I have a small "investment" (i.e. a bit underwater) in Origin Oil OOIL which is developing the use of Algae to produce liquid fuels from concentrated CO2 sources like smokestacks. Could be equivalent of pyrite - fool's fuel. Definitely a DYODD.
Few days ago was the 40th anniversary of the Kent State killings.
Just as the heavy use of antibiotics contributed to the rise of drug-resistant supergerms, American farmers’ near-ubiquitous use of the weedkiller Roundup has led to the rapid growth of tenacious new superweeds.
To fight them, Mr. Anderson and farmers throughout the East, Midwest and South are being forced to spray fields with more toxic herbicides, pull weeds by hand and return to more labor-intensive methods like regular plowing.
“We’re back to where we were 20 years ago,” said Mr. Anderson, who will plow about one-third of his 3,000 acres of soybean fields this spring, more than he has in years. “We’re trying to find out what works.”
http://www.nytimes.com/2010/05/04/business/energy-...
PapaD - if you have available time, could you please ask how he sees the future for Minera Andes relationship with Hochschild and perhaps his thoughts on the current management of Minera. (They see to have more legal problems than most, and I'm wondering if this is going to be a serious damper on the company's progress). TIA, Chris.
FD long UXG, RBY, MNEAF
Bill's RSI tool show's NGD in distribution zone for last 6 days. IMHO if you have to ask the board, you may want to review what you were thinking when you bought. No one can answer your question but yourself. FWIW, some people sell a partial position just to lock in profits, but that doesn't answer your question. You may want to search on posts by papadynamite who's been active in UXG, but as always DYODD.
Edit - In fact see his post below #62045
GS, like any other corporation, exists to make a profit. The reason they are in the present position is because they were efficient at exploiting the environment created by the very same people interrogating them. Congress needs to look in the mirror to find the source of the problem. My guess is that the only way to prevent excessive leverage is a return to the gold standard, and I don't expect that to happen until its too late. I'm an optimist by nature, so find this depressing. As an aside, the miners were treated more like paper than reserves in the ground today. Added a little GRS.
Guess I'm being particularly dumb today, cramming for DENSA, but I'm not seeing what the big deal is. We have GS arranging an OTC trade between Paulson who takes a position on the short side, and ACA et al who take the long side of some financial entity that turns out to be garbage, which shows Paulson was the smarter. What else?
Well as I understand it, the bigger issue is synthetic CDOs which are comprised of CDS on real CDOs, so it comes back to the idea of trading insurance on something you don't own, like taking out life insurance on your neighbor. Question then is, what, if anything, should be done to regulate this. I would not like to learn that someone will benefit from my death, though it seems reasonable that companies that depend on a single individual for much of their value would want to cover that risk. Do we need to require that all CDS be attached to the entity they're insuring?
http://tinyurl.com/ycraa8j
Miners getting clobbered while GLD and SLV still green.
Anyone know what constitutes a practical width for modern (as opposed to artisan) mining. I'm keeping an eye on Rainy River after Bill's head up, and they seem to have high grade ore, but over narrow widths. I would expect that mining with machines rather than pick and shovel requires some minimum size of hole, which would mean diluting the ore grade.