Tomorrow will be a very interesting day in the markets.
Today, the drama continues. Click here.
Well, I watched the evening propaganda…er…sorry…the evening news tonight and they made it sound like everything was just peachy.
You see, with the results of the big fat Greece election in our talking heads tell us the people of Greece finally came to their senses and will go along with the New World Odor bailout…
And now we see the joy in the markets…Market Watch headline: “Asia Stocks Soar on Greece Results.”
What a sick farce!
All this is is more can kicking and anyone who thinks otherwise is whistling past the graveyard.
With all the delusion it would seem the day of reckoning will be more painful than we can imagine.
Ken….you are correct…..it is a farce……a great big fat Greek wedding, and they are all kissing the groom or is that the gloom….
The national Canadian news that I watched last night did not give that impression! Interestingly enough their take was quite different from the take in the U.S.
With the Greek vote, some precious time is bought. The vote might mean something if they can work with the European Union to make some meaningful changes. But that window is very short and the changes are going to be a big challenge for the Grreek people.
Its going to hurt but it will be done
This was a paragraph from the posted article:
Alexis Tsipras, the head of eight-year-old Syriza, had vowed to keep Greece in the euro while winning concessions on the rescue terms from European leaders including German Chancellor Angela Merkel. He said New Democracy and Pasok, which united last year to back further fiscal tightening by a caretaker government, had “lowered the Greek flag and surrendered it to Angela Merkel.”
What an idiotic statement. First, many citizens agreed to overspend their ability to pay back. Then they begged Germany to loan them more money (which they did, asking of course for austerity to go with it). Now Tsipras says they’ve lowered their flag to Germany. Well tell you what, if you don’t like other nations telling you what to do, DON’T GET IN A SITUATION WHERE YOU MUST BORROW FROM THEM! Talk about lack of responsibility.
Say goodnight, Gree-cie.
Hi John W,
My sentiments exactly!
John W. Robertson – There are many ways to be conquered, this new “financial ocus pocus” approach based on commitments to pay interest on something created out of thin air is just the new 21st century approach:
…to deceive even the elect–if that were possible….
A sign of the times?….
Anyway, would you not agree that the full and rightful sovereignty of a nation includes the capacity to define and control the quantity of their own currency? If so, all nations part of the Euro should lower their flag. Which is exactly what the oligarchs want, after each nation pays tribute.
Death to the new world order!
Long live the full and rightful sovereignty of nations!!
Long live the right to self-determination of individuals!!!
I am in your camp on this one, Missive!
Oh, I agree. I think the ability for a nation to float it’s own currency is (arguably) one of the primary tenets of being a nation. Now, even Angela Merkel has tentatively accepted political union “in the medium term”, however long that is. Can you imagine Canada, the US and Mexico actually agreeing to a shared currency (like some posit with the Amero)? Can you further imagine those 3 countries talking about political union?? They’re actually doing that right now in the EU. It’s really happening.
CLOSER TO HOME: Extorre joins minefinders, silvermex, and more.
A question for the Big Al, Peter G, and the family:
Is this the way of the juniors? While we wait for 5 or 10 baggers, the troubled junior explorers, beaten down in price are picked up by the majors for peanuts. I suppose this is better than losing everything, but is this the future of these companies? Since this is where many of the readers are invested, I would love to hear some opinions.
Bobby….that is a great question……
I just read over on Kitco….the EXTORRIE? was just sold…to Yamana?
I guess this is what we can expect going forward…..
Hope, BIG AL….TALKS ABOUT THIS ON A SPECIAL OF THE DAY….
One slight correction, In the Box, the sale is contingent on Extore shareholder approval.
My opinion is that there will be a lot of M and A activity sooner rather than later.
Regarding Extorre, please let me know your opinion after you listen to the interview with Yale which we did about an hour and a half ago.
Bobby – How long have you been in the junior market? Keep an eye on their bonds and other private financing agreements, that is how majors sweep the good stuff from under the nose of everyone else.
Al, did you not commit to discuss these bonds and loans agreements a few weeks back?
Yes I did MissiveDuTexas,
Been so darn busy I forgot. Please resubmit and I will do this on Tuesday.
Although I have over 50 years in the physical market,I formed my origional junior portfolio under the direction of Morgan, The Adens, Doody and others, around 2005 with 10 companies, over the years built it up to 25 currently 18 left. I am willing to say that I have been around the market longer than most. Yes, I had some 10 and 20 baggers, to build what i have today.
As an investor (actually a gambler, considering the market) rather than a trader I hold until acquisition or bust. To me it just seems that management is giving up and letting these companies go on the cheap. Perhaps they know something that we do not.
What is your experience and record?
Bobby……looks like you have more experience than most…..50 years,then you have seen it all…….With that you can idenify the cycle…..I am going to keep close to you…
My 50 years is physical collection rare coins….saw the 70′s(was to young to identify the market at the time, I was busy in the Real estate mkt at the time)
But, thur, collecting, pick up on the cycle this time, and going to ride till the bust….
by the way,,,how, was the fishing in the Keys…?
Where in the dickins and Guinness is Irish?
Marc….I guess Irish, must have insulted the queen, and she is making him scrub the
dungon floors…..You know the Irish sometimes have a problem with the royals.
OR maybe she has him doing the inventory count of Gold , that Greece just shipped
her for the bail out money…..OOTB
I could tell some great stories, prior to the internet, shopping the coin dealers after a call to NY regarding the silver price. They were still waiting for the current month’s issue of Coin World. Yes, sometimes we bought at 50% discount to POS. The only problem then was, I did not have much money. I still have 100% of all my silver and gold purchases. I am in for the long term still, just not as excited in the Junior market as I was 3 years ago when we expected, “the year of the junior” to be just around the corner.
Keys Fishing Report: Offshore dolphin and tuna fishing was difficult and spotty. Bottom fishing the reefs (no current) came up empty. The Flats: Ah, snapper and flounder were abundant and we even had a tarpon take a bait, momentarliy.
I hope we get some good discussions on my question.
Bobby….thanks to the followup….
Snapper and flounder….nothing wrong with the eatens there…..
Tarpon and tuna…(yellow fin) what a treat….those suckers are always tough.
Sound to me , you had a good time…..
Glad you made it back safe….
talk to ya later…..OOTB JERRY
As you are probably well aware – Extorre was acquired by Yamana. Just got it in my inbox early this morning. Any thoughts?
I guess that I should have been clearer in my question above.
Can you have Yale follow up on his comment in this morning’s news release re “Aside from this, management did not believe shelving a development
decision for any length of time would be viable.”
Yes I can and yes I will.
What is your opinion after our earlier interview this morning with Yale?
I will listen in now and reply on the other link.
The modern day Churchill sums it all up in the the den of thieves:
Bobby – you certainly have me beat. I am not invested in the market at this point, mostly getting us prepared for making our home a good place to live, debt free. Remember Enron and others that had off the books liabilities? I think a lot of minors running out of cash can be tempted by such, and as long as the majority of shareholders go along, you and I have no say. Sometimes the choices between a rock and a hard place in that sector is just that.
missive, may i suggest staying out of stocks, Build your wealth with physical gold and silver purchased monthly. Once your house is in order and you have no debt, you can begin to enter the largest casino in the world, the stock market.
Best of luck to you,