Marshall and Big Al address questions.
Click download link to listen on this device: Download Show
Al, agree yet again. As the prayer would have it: ‘God give me the courage to change the things I can, the courage to accept the things I can’t and the
wisdom to know the difference’!
A Blessed Easter to you and yours,
Andrew
I have The Serenity Prayer on my wall in my house in Norwich. One of the guidelines I attempt to follow, although I do have some characteristics of Don Quixote.
Did you write about “An evil Priest Beyond Redemption”?
More engrossing than Da Vinci!
For what it is worth, I repeat The Serenity Prayer quite often.
Big Al
I imagine the US will mandate an investment of IRAs in Treasuries only.
I also imagine a high inflation situation, but with financial repression, interest rates are held low. Under those circumstances how long would a million dollars in an IRA retain even a purchasing power of $100K in today’s money? 10 years maybe. I believe the US inflation will not be as bad as Zimbabwe, but even at an inflation rate of 10-20% (which is possible) retaining purchasing power becomes almost impossible if invested in low interest rate bonds.
I have a life expectancy of 30 years +/-, and do not expect social security to come close to maintaining my lifestyle. I have no intention of ever working again, having retired in my forties. My IRAs are my primary means of maintaining my lifestyle and I hope to leave behind over a million dollars when I have to go, but I will be damned if much of it will go to the stupid government. I am giving things away at a reasonable rate, while planning for the future. The IRA wrinkle is a problem. AND it has precedents. e.g. Argentina a decade ago. Whether or not you believe the Big Zero has mal-intent or not, Big AL, I do. I believe he is hell-bent on socialising this once great country down to third world status. Failure to defend the borders has already taken us 20% towards that status. Nationalizing the health system, apart from destroying quality healthcare, will take us another 20% of the way.
I do live in the here and now, but I choose not to bury my head in the sand. I do ask, What if? and I do plan ahead. I don’t believe I will be damaged, as long as I plan ahead.
Meanwhile in Cyprus the plot thickens….
Dear CFS,
Yes I did although it’s called ‘A Candle for Lucife’r with the subtiltle you quote. Thanks for the compliment compared to Da Vinci! Have also written Chasing the Serpent and hopefully out before year end ‘Satan’s Bigots’- Sub-titled Honour where there is none. My attempts as a maverick retired vicar to challenge, whisper it gently, just so much that’s stupid and wrong within all the main religions, even as each contain the seeds of so much that is noble and good.
Best, Andrew
I read it a few years ago. I think it is still in Norwich, unless I gave it to my son. I’m in the US at the moment, so I can’t check.
An old habit from college days, I try to read at least one book per week.
Words of wisdom. Thank you Andrew!
Big Al
I was apparently wrong about Italy. There is an outflow of money.
CFS – Now on Kindle at around four or five bucks! The whole thing had a complete re-edit, should you wish to re-acquaint yourself with it!!
Best wishes,
Andrew
cheers, I’ll Chase the Serpent later this year. I just put a post-it note on the bookcase near my desk to remind me.
US still upset about China’s theft of data:
http://www.reuters.com/article/2013/03/29/us-china-us-hacking-idUSBRE92S02P20130329
So it retaliates:
http://www.reuters.com/article/2013/03/30/us-china-us-trade-idUSBRE92T01J20130330
China not happy.
But back to Cyprus, I don’t necessarily agree, but just report:
http://www.zerohedge.com/news/2013-03-30/25-lessons-cyprus-deal
Libor Rate-fixing banks qre to big to fail, or they fixed the judge as well as Libor Rate
EPA to ban sale all Ammunition in California containing lead, on grounds of potential environmental damage.
Everyone needs to do that, cfs!
Big Al
P.S. Not necessarily just John Grisham although I really enjoy his work!
A lesson in bartering, and having the correct currency to barter with.
During the Frog Lake massacre, April 2, 1885 two white women were taken captive. In his book “Blood Red the Sun”, author William Bleasdell Cameron who was at the scene, writes how Adolphus Nolin, a French/Cree Metis set out to save the first woman.
“From other Indians he learned that one of the women was in the lodge of Manichoos, a murderer of the morning, with his Cree wives. Nolin lifted the lodge-flap and entered. He barely glanced at the captive cowering there, dazed by shock and grief, her face deadly pale, her wide eyes mirroring the horror that had overwhelmed her when her beloved husband had fallen dying at her side. It would not answer for the half-breed to appear as the friend of the stricken moonias isquayo. That might jeopardize them both. Instead he said casually in Cree:
“I see you have a white wife now.”
The Indian nodded. “Uh-huh.” He tried hard not to show his elation.
“You are lucky,” Nolin remarked. “Now, look at me, a man part white yet I have no white wife, nor could I get one. No wonder you feel proud.”
Manichoos continued to dissemble; he raised a deprecating hand. “No; it is nothing; I am not proud. What is a wife, more or less, to me? If you want a white wife, buy this woman here.”
Nolin shook his head. “No. I could not buy your woman. You would ask too much. I am poor.”
“She is not young, neither is she pretty,” Manichoos commented. “I would not ask much – two horses, maybe.”
Nolin clapped a hand over his mouth. “There! I knew I could not buy her. Two horses! That is a fearful price. I have only one horse. I will pay that for her.”
Manichoos was not in the mood to haggle. “Two horses,” he insisted stolidly.
Nolin rose. “Tesqua. Wait a little. Perhaps I can get another horse.” Leaving, he spoke for the first time to the captive. “Take courage! You shan’t be harmed. I’ll be back and you’ll be taken away from this cur.” He hurried back to Pritchard. “It’s Mrs. Delaney, Johnny. Manichoos has her. He wants two horses for her and won’t look at my pony.”
Pritchard’s answer was prompt. “Take one of mine; I’ve two. And don’t lose any time getting her over here. He might change his mind. Or one of the other swine might buy her.” – end quote.
“Blood Red the Sun” can be read here. I quoted from “The rescue of the white women”.
http://www.ourroots.ca/toc.aspx?id=12317&qryID=9997125b-b4db-456e-8b75-c3fb3dd1e180
Thanks Irwin!
Big Al
Danielle Park discusses Cyprus:
http://talkdigitalnetwork.com/2013/03/this-week-in-money-77/
She mrntions outflows from other European banks including the GB pounds to the US dollar.
However, that is not supported by hard data.
e.g. The pound has gone from below US$1.51 to above US$1.51, an increase of one cent, during a period when the dollar was increasing against the euro.
Meanwhile, in your local bookstore
http://www.zerohedge.com/contributed/2013-03-30/david-stockmans-out-rage
Traderrog: Watch for our new essay on Monday “Funny money ricochets world- wide. this covers our logic as to why Q4 is the game changer. Traderrog
http://www.wavelengthpublishing.com
Matt Damon has a new movie out that is anti-fracking.
Yoko Ono and Sean Lennon formed an anti-fracking group which is being investigated fot violation of lobbying laws in NY state.
Let me explain to anyone hear why anti-fracking people are just plain ignorant, apart from the fact that there have only been two reports of goundwater contamination in regions where fracking activities are close by, out of several hundred thousand fracked wells. AND IN NEITHER OF THOSE TWO CASES WAS FRACKING PROVEN TO BE THE CAUSE.
First, Typically how deep is ground water used for wells?
Answer: at most a few hundred feet down.
Second, How deep is gas/oil for fracking?
Answer: Gas is usually deeper than oil, but typically a few thousand feet to a few thousand meters.
What is fracking?
Answer: It is the Fracturing of the rock around a horizontal drill hole due to high pressure injection of fluids, typically water with additives.
How extensively is the rock fractured around the horizontal hole?
Answer: depends on the rock, but typically few tens of feet maximum.
Given that the pipe going down the well to extract the oil or gas is surrounded by mud, as is typical in most ordinary oil or gas wells, how can broken rock down a thousand feet or so below the water level communicate or contaminate the ground water?
Answer: It can’t. (Unless the well operator deliberately messes up the drilling somehow) Distance of separation is what eliminates contamination, which is why the water is not contaminated in the first place.
Thoughts on Cyprus:
Jim Sinclair has some comments on Cyprus:
http://www.jsmineset.com/2013/03/30/could-cyprus-be-the-defining-event-of-this-century/
John Mauldin understands Cyporus:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2013/3/31_J._Mauldin.html
Hi gang.
You need to go over to Howe Street and listen to This Week in Money – Danielle Park bashes the gold bugs for a good 5 minutes start at around minute 18.
Remember that when she is back on the show. Good luck all.
har;
I for one am not perturbed by well-reasoned opposing opinions; I always try to see “how would I lose on this investment” as well as “how can I win” before buying. Hearing from both sides helps with that process.
Jay Gallemore is very good at keeping a neutral opinion, and is happy to go long or short – as opportunities present themselves. Right now, he’s expecting silver price to bounce up and if it does, he’ll be going short.
http://chartingyourfutures.com/workshop.htm
Scroll half way down and click on the radio “workshop” link for Saturday’s 18 minute audio.
Click on “daily worksheets” to see the charts he is referring to.
The point is when she is on her she is bullish on gold.
And don’t forget, she was bearish the stock market (and laughing at James Grant) in August of 2009. She has never had a single, even fleeting opportunity to profit from that position. At the same time, insiders were selling $31 for every $1 of buying. The spx is now up over 50% since then. This illustrates that, even among so-called experts, such wide-spread agreement is a contrary indicator. This is why it is very nice to see that the mainstream financial press continues to publish such negative articles on gold.
She has been calling for a 20% correct for at least 3 years.
I posted a comment on Howe Street (that was not posted by the moderator) – Week after week she has been calling for a stock market collapse – this is like week 110 – and the market keeps crashing up, why not ask her about it? I got banned.
That’s very disappointing that Howe Street would ban you. I thought they were better than that.
Sorry, Serenity prayer should read ‘God give me the courage to change the things I can, the PATIENCE to accept the things I can’t and the wisdom to know the difference’!
Happy Easter everyone,
Amdrew
This is how I learned it:
The Serenity Prayer
God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and wisdom to know the difference.
Living one day at a time;
Enjoying one moment at a time;
Accepting hardships as the pathway to peace;
Taking, as He did, this sinful world
as it is, not as I would have it;
Trusting that He will make all things right
if I surrender to His Will;
That I may be reasonably happy in this life
and supremely happy with Him
Forever in the next.
Amen.
–Reinhold Niebuhr
On a side note, Andrew, have you ever Bumped into,
Rev Canon Clifford Bannister? He and I used to hang out as kids.
Haven’t seen him since we were swimming in a pool in Spain, quite a while ago.
Funny thing, I just saw him in the newspaper as having moved the possible bones of King Alfred the Great for reasons of safety.
Interesting!! First Richard the third ; now possibly Alfred the Great may be found after a thousand years.
I’ve been a little upset about “expert commentary” as regards the junior resource sector. I didn’t hear the experts mentioning the downsides when these stocks were flying. Now that the stocks have taken a tumble, they talk about the risks & troubles in the industry. I have to wonder if they hadn’t been trying to pump the stocks higher so they could sell at a better price, and now drive the stocks lower so they can pick them up at a better price.
Hi Stephan, that goes on and you have made a valid point one that investors/speculators should never forget. Also many of these newsletter analysts buy into these companies at a cheaper price when they have private placements something we can’t do very easily. Then they tell you about the merits of the company while also disclosing that they own shares and that this is not investment advice. If the stock falls you may here this do your own due diligence. Forget the buzz and the hype and never buy something after you have just heard a recommend.
I like “The Penny Ponies” but they are 1000% risk, one also needs to use stop losses and have an exit strategy. Mickey Fulp’s strategy is to buy 50.000 shares of a stock that is selling for 10 cents or less and with a low float and if the stock doubles he sells half taking his skin out of the game, then if the stock doubles again he will sell another 10% and if it doubles again he will sell another 10% of the remainder and so on, if he gets a five bagger he will hold the remaining shares in his portfolio.
Having an exit strategy is very important with any buy. DT
“The secret to making money in the junior resource stocks” by Peter Besler.
http://www.northernminer.com/news/the-secret-to-making-money-in-junior-resource-stocks/1002159348/.
Pssst. It’s not so secret:) My search revealed it on more then one website.
SF, thanks for posting this article it is well worth the read and I have book marked it, DT
wishing Happy Easter 🙂
to all stackers
and doughnut snackers.
A Musical Leaf
http://www.youtube.com/watch_popup?v=k6dTeQwf488
Meanwhile down in Venezuela capital controls have worked like a charm.
Not
Sprott has NOT been knocking down the market…..their hedge funds have lost 50% of their NAV over the last 2 years. From HEDGE FUND OF THE YEAR in 2010 to fecal status in 2013. PU!
And just when yhou think the Cyprus situation is over (with approx 10,000 businesses wiped out) and 80,000 employees of the banking system about to be unemployed…..
Fans of Bill Still (or Lincoln) and his dream of government issued “debt-free” money should read this great piece by Thomas Woods.
http://news.goldseek.com/LewRockwell/1364740777.php
Meanwhile back in the US, with financial repression stealing wealth from greyhairs, the Federal is trying to inflate bubbles:
http://www.youtube.com/watch?feature=player_embedded&v=INDZe4KAZS4
Partially agree with Big Al since I suspect the whales, like JP Morgan and Goldman Sacs, are more self serving than honest banker/brokers–if not down right crimminals. If fact, there’s documented cases exposing such (mis)conduct. Add to that the program trading within hedge funds that magnify the moves set in motion by the market manipulators and you get what we got–if only for a little while. This too will pass, and it won’t be pretty.
But I don’t think it’s across the board within the investment industry. Sorry to hear so much sour grapes from those who think markets never correct or that every fund manager is on the take or in it JUST for themselves. Sector investing has magnified moves in both directions–and the Fed and US Treasury are no friends of honest money. Nor are the too big to fail or jail money handlers on Wall Street who do their bidding.
Thanks CFS., I knew I only had the opening gist of the Serenity prayer in my head. Good to read the full correct version.
No, fear I’ve not come across Canon Bannister.
Re Cyprus and whether or not it leaves the Troika, the next shoe to drop stands to be Slovenia, with soaring bonds and markets homing in on banking weakness. (Liam Halligan in today’s U.K Sun Telegraph). Might well prove to be less of a pushover than Cyprus is, at least for the time being.
Regards, Andrew
Pms moving up as spot maket opens.
Pt +$5, Pd+$5, Au +$4, Ag + $.05
The two biggest losers in Cyprus were reported as the Telephone Company and an on-line casino.
Reminds one of the proverb:
A Bird in the Hand is worth two in the Bush.
or as is clearly the case in Cyprus:
A Euro in the Hand is worth Two in the bank.
(or if you are wealthy much more than two in the bank!
http://www.youtube.com/watch?v=NOzR3UAyXao World Collapse Explained In 3 Minutes DT
commonsense on material goods
Marshall Berol stated the US is a country of laws.
Under what law were Obama phones enabled?
Gold back over $1600 and Pt catching up.
Translated by Google from a Greek Cypriot Newspaper:
Mar 30, 7:44 AM (ET)
By MENELAOS HADJICOSTIS
NICOSIA, Cyprus (AP) – The moment word broke that Cypriot lawmakers in Parliament had voted down a bailout deal that would have raided everyone’s savings to prop up a collapsing banking sector, a huge cheer rose up from hundreds of demonstrators gathered outside that echoed through the building’s corridors.
“Shame on Europe for trying to snatch people’s savings. It’s a mistaken decision that will have repercussions on other economies and banking systems,” said protester Panayiotis Violettis. “People have stopped trusting the EU which should be our protector.
If one owned property on Cyprus, I wonder how safe any insurance on the property would be. Since all the bondholders in the banks were wiped out, one has to also question the viability of insurers and pension funds, etc. on the island. This is going to turn out to be a much bigger mess than the Eurocrats ever thought about. It is beginning to be clear that they did not think.
I could not believe this:
http://www.bloomberg.com/news/2013-04-01/treasuries-lure-abroad-grows-in-3-trillion-fed-account.html
Bob Moriarty, sick and tired of manipulation.g up running 321Gold.Com. Going to take up Golf.
Alphabetically that really is the next thing!
Knowing Bob’s sense of Humor, it could also be an April Fool’s joke!
John Doody podcast:
http://www.youtube.com/watch?feature=player_embedded&v=0THrXEUUISE
“Far more established rule of law in the United States?” Our laws are being broken and rewritten everyday! It is not a long way off – it is here and now! If you have gold in a self directed IRA you can cash it out now while gold is down, pay the taxes and buy it back for cash. Get everything out of the bank and buy physical gold and keep it with you. “what are the rules today?” there are no more rules. timing your IRA withdrawals is going to be very very important, stay on top of it!
There’s noticeably a bundle to know about this. I assume you produced certain nice points in attributes also.
[url=http://christianlouboutincheapsa.talk4fun.net]christian louboutin heels[/url]
From zerohedge:
A timeline of currency:
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/04/20130330_GSFX.jpg