Big Al and Steve respond to the subject of “The TSX is broken and here is how to fix it.”
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Yeh, tell the mob it got cheated. Problem solved!
My only comment is that I have done okay in the market. I have been investing in Canadian mining companies and companies involved in other sectors for a long time.
No real complaints coming from me.
Big Al
Al, the mob dont care if YOU got cheated, they would care if THEY got cheated. lol
And yes, I made money too long ago, but it was with inside info. nothing fair about it. crooked. problem was, I couldnt find a broker I could trust to do what I told him to do. Cost me money and I dont doubt it was the brokers pocketing it.
oops, misread you, only thing I can say about cheating the mob, it only happens once.
Never had to do that.
I always just looked at the fundamentals.
Couple of examples (way back when) were Flexible Solutions and Schmitt Industries. Did pretty well on some of the miners also!
Our company got both of those companies listed on major U.S. exchanges.
Big Al
I used to play cards in clubs, every type of person you could think of at those games, there are stories in books about those places, anyway, conversation would somtimes go to companies on the vse. Thats where I got inside info.
Fundementaly, looking at gold way back then I stopped investing in gold because each time I figured it should increase sombody invariably would sell tons. I didnt know it then but it was manipulation.
The only time I made money fundementally was when Russia went broke and couldnt buy canadian wheat, price tanked I figured the russians were white guys with nukes, we will sell it to them. Sure enuff, the money was lent and up the price went.
It is a rare thing that moves from disorder to order without great tumult.
Unfortunately business ethics cannot be held up as an exception to the 2nd Law of Thermal Dynamics. Systems tend to devolve rather than evolve….to say the TSX is an exception just may be stretch.
As I look at my tulips I see the wonder of life being an exception. In the affairs of men history says you need a revolution to make order out of chaos. The ethics of the TSX fits nicely in the mix of all of today’s industry…. that is it is a mere reflection of the character of the people in society. That is also to say…. it is in decline.
There are exceptional companies within said declining system which makes stock picking all the more important.
I do agree, Dennis M
Big Al
Your right Denis, and I actually dont mean everyone and every company is crooked when I say total corruption. There are good people and companies, its just I find it unreal how mf global gets away with theft and manipulation etc.
Yes it is possible to make money, and its possible to make money on a roulette wheel too. Its just I dont think markets are doing what they were ment to do anymore, find prices for things etc. I hope these rumours of line ups for gold are true, I havnt seen them tho nor could I see them on u tube. But, boy will things be affected if someone that wants his gold is told, “you get cash”.
When and if that happens (and it probably could) it will really hit the fan because then everyone will know the truth!
Big Al
If these stories are true it is going to hit the fan in the not to distant future.
Sinclair on kwn said his bud was told no, you cant have your gold from a swiss bank.
If that starts happening enuff that mainstream hears about it look out.
On the other hand, it could all just be bottlenecks.
Also, celente brings up a good point on kwn and Silver Doc reports about pensions lost in ireland.
From Reuters:
The U.S. Mint has temporarily suspended sales of its one-tenth ounce American Eagle gold bullion coins because of inventory depletion due to strong demand, but continues to offer the one-ounce, one-half ounce and one-quarter ounce coins.
In a memo to its authorized purchases late Monday, the Mint said that gold coins sales in total ounces has been up more than 100 percent year to date over the same period last year.
benb,
I find it interesting the smallest weight unit was under such high demand.
Buying the smaller units yield less metal due to higher premiums on the smaller units.
When we see high demand for light weights it tells me there exists a market opinion that those purchases may be spent not resold. This demand is an indicator and constitutes a double thumbs down on the macro fiscal/monetary environment.
That, Dennis M, is something that I completely agree with. Why do you think our latest silver purchase was rounds?
Big Al
Not surprising at all, benb!
Big Al
Denis, you got me befuddled there. But yes, the units could be for spending, but I see it as an oz going to 10k being sold might be noticed a 1/10th oz being sold wont be noticed. I actually regret buying onces years ago, I wish I had nothing but 1/10s and grams. I noticed grains on ebay, do you happen to know how many grains to a gram?
I have a 2.5 gram Credit Suisse bar…I would not want many or go any smaller.
It seems to me someone who would take a gram of gold from you will takes an ounce of silver. Storage and transport aside.
About 15.4 grains to a gram apparently.
1 ounce = 437.5 grains
http://www.metric-conversions.org/weight/ounces-to-grains.htm
I guess its all what we prefer Denis, I have more silver than I can carry, so I figure thats enuff for me. I have an indian friend, she says GOLD BEN lol So I buy mostly gold now, its smaller not so heavy and the stories of escaping tyranical governments etc include gold, not silver so much. gold can buy your life, I dont know about silver. I think we probly want both.
benb,
Practice up on your people skills.
After the boarder guard accepts your bribe and you pay him the agreed ounces there will be some very tense moments of time at least him.
Volumes-I own a few companies where the volume is non -existent.This happens at market bottoms when there is little to no interest in junior equities.Reading the stock blogs one gets the idea that many investing in the Venture regard it as a Vulture Exchange.
The regulators have to level the playing field for the average investor by protecting them.
Until then we only have manias and select companies of integrity to properly invest into with any protection.It takes many years of being Venture burnt to figure that out-if one makes it to that stage at all.The odds are awful.
I remember the vse, I really dont know about the exchange being crooked, but the brokers is why I left investing in markets. Criminal what they did to people.
After pewters and the incredible info we get now in comparison, on companies etc, not needing a broker, I got involved again. So what do I run into? hft and MF globals libor and PM manipulation yadda yadda yadda
How to fix it? Maguire gave the smoking gun to Chilton, nothing happens, maybe the best idea would be to get the mob involved in investing and tell them they got cheated.