I have been watching from the sidelines for several weeks now and I’ve been as much agahast as the rest of you regarding what is happening to our country. I left the Jim Willie Piece up in the “news to use” spot for quite a while because he hit the nail on the head. It is worth reading again and again.
The volatility of the financial markets is both frightening and amazing. It is quite obvious that we are witnessing a history that we would prefer not to see. Many of the middle class are stuck and I can only say how truly sorry I am that we’ve found ourselves in this predicament. This is from Enrico Orlandini: DTC Analysis SAC; www.dowtheoryanalysis.com or email EBO@dowtheoryanalysis.com/
This writer is on the same level as Roger Weigand in his commentary. He will tell you the truth! Subscribe to his letter along with Roger Wiegand at www.webeatthestreet.com He too will tell you the truth. Ladies and Gentlemen–what is the real truth worth to you these days?
DAILY REPORT (10/23/08) A Brain Dead Congress by Enrico Orlandini
This may come as a shock to some of you, but the United States is quite possibly the worst run entity in the world, with the possible exception of Zimbabwe. Worse than Argentina! If you want to assign blame for the mismanagement, you must look at two groups:
· Government and this includes all facets: Congress, the Senate, the White House, and the judicial system, and it is probably the most inferior group of politicians in the two hundred and forty year history of the US.
· The American people for always choosing the easy way out; for voting for anyone and everyone who told you that you could have something for nothing. Congratulations, you got what you deserved!
The fact that these morons could simply sign off on a US $700 billion dollar bailout, with no more than a couple hours of debate, leaves me speechless. Then to watch Congress sit idly by, while the Fed injects another US $1.5 trillion, without so much as batting an eyelash, makes me livid.
So, what do the financial news channels focus on? Today the idea was to shine the spotlight on Argentina and imply that the problems in the US are somehow related to problems traced back to emerging markets. This of course in nothing more than an effort to distract your attention from the real problem, i.e. the United States defrauded the rest of the world. It did so by selling worthless assets, disguised as “AAA” debt, to the rest of the world. People like Rubens, Paulson, and Greenspan were the chief architects, and clowns like Author Levitt (ex-SEC head) put their seals of approval right next to Standard & Poor’s. The average American slept through all of this, but I want to see how well he sleeps when he comes to the realization that his pension fund is full of similar crap. Plain folks at GM and Ford will learn the hard way what their pension funds are worth, when these companies close their doors, and that it could all have been avoided. Some years ago, the auto unions stopped channeling funds to the mafia and began to send money to funds as well as entities like Fannie Mae and Freddie Mac. In my opinion, they were better off with the mafia; the rules of the game were much clearer.” End
I am deeply troubled that our government deems it fit to bail out Wall Street and the banks without bailing out the Middle Class. They then have the unaldulerated audacity to tell the American people that this is all for our good! read more
BUFFALO SIGNS M.O.U. FOR INITIAL CDN$13M INVESTMENT DEAL
Vancouver, B.C., October 22, 2008 – Brian McEwen, President and CEO of Buffalo Gold Ltd. (TSX-V: BUF; OTC\BB: BYBUF; FWB: B4K) is pleased to announce that the Company has signed a Memorandum of Understanding (M.O.U.) with China Railway Resources Co. LTD. (“CRRC”), a wholly owned subsidiary of China Railway Group Limited (“CREC”) (www.crec.cn ) to invest directly into the Company as well as finance the Mt Kare project in Papua New Guinea and the grassroots projects in Australia. “CREC” is a public company registered in the People’s Republic of China and one of the largest civil construction companies in the world. From January 2008 to June 2008 CREC reported profit attributable to the equity holders of the Company of RMB1.906 billion ($332,000,000 CDN), representing a year-on-year growth of 190%. CREC has created a Resource Development Branch to invest in overseas mineral development projects.
Buffalo Gold’s CEO, Brian McEwen commented, “We are very excited to have signed this MOU with CREC. Raising money for early stage projects is extremely difficult in the current market, and as such our Australian properties and even the Mt Kare project have been underexplored for the past year. Buffalo now has a partner with the financial backing to complete exploration and evaluation at Mt Kare and our portfolio of grass roots projects in Australia. This allows us to focus on completing the underground feasibility study at our Furtei operation in Sardinia so that we can increase our revenues from that project.” Under the terms of the M.O.U., CRRC intends to: read more
Please stop being spectators and put an end to financial fabrication!
Get involved in the Wall Street Bailout Bill.
If this bill is passed financial institutions will be freed from fair accounting rules that require them to reveal the true market value of the value-less paper they hold. That would allow them to continue lying about their solvency.
You simply must not let that happen. It legislates financial fabrication!
This is the first time in my 67 years that legislators are listening to the public, so please tell them what you want on this bill, whether it be yes or no, but do not support lying as an economic tool.
Have we not already had ENOUGH of fabricated, spun, mistruths?
Vote No against a change in Fair Accounting Rules. Vote any way you wish on the rest of this meaningless exercise.
The following is a contact list of Republicans who voted for the Bailout. Contact them and voice your opinions!
The financial meltdown the economists of the Austrian School predicted has arrived.
We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy - all the capital misallocation, all the malinvestment - and prevent the market’s attempt to re-establish rational pricing of houses and other assets.
Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I’d only be repeating what I’ve been saying over and over - not just for the past several days, but for years and even decades.
Still, at least a few observations are necessary.The president assures us that his administration “is working with Congress to address the root cause behind much of the instability in our markets.” Care to take a guess at whether the Federal Reserve and its money creation spree were even mentioned?
To choose one, and leave the other behind. It’s not always easy, it’s not always kind—-did you ever have to make up your mind?
Wasn’t this by the ‘Lovin Spoonful?’ I think it was and I think it has enormous implications in terms of what we are all going through right now. We’re all having to make up our minds–over something–especially our investments. But then if we are sufficiently fortunate to have funds to invest, what are we choosing? If we are living from paycheck to paycheck or no paycheck at all, what do we choose? Are we saving our homes or sending our kids to school? Are we choosing health issues over saving our houses? Are we looking short term or long term? This is very difficult because most of the working class have been put in a most untenable situation.
We are faced with some very difficult choices and I sympathize with all of those people, all of those families who are having to make up their minds. I wish there was a magic wand which we could wave and make all of our financial problems disappear. In actuality, there are several wands and they are known as gold and silver. They won’t make all the issues disappear but they will offer opportunities and they can put a foundation under your future like no other investment–including money–in our case the US dollar! But alas, gold and silver have been manipulated so that the magic wand is tepid, under-performing, and the opposite of what they really should be which is omnipotent. Currently they are impotent because of INTERVENTION. The magic wand is still magic but it demands that you recognize and then believe in common sense. Common sense dictates that there has been an enormous amount of intervention in the precious metals complex in order to support the US dollar. Basically the power elite is now killing Peter (gold) to buy a little more time {forget about paying} for Paul (the US Dollar)! It always seems to return to the same basic premise, doesn’t it. Paper promises versus “the real thing” which is the precious metals complex. So, Did you ever have to make up your mind?
I have just encapsulated GATA’s (Gold Anti Trust Action) Committee basic premise in a few short sentences. Gata’s contention is that a Cabal, consisting of an organized group of Central Banks, various US financial entities (think Federal Reserve), and assorted international allies have been conspiring to suppress the price of gold for their own nefarious ends has been repeatedly and empirically proven. The procedures utilized by these powerful groups to accomplish their ends has become ever more intense, desperate and subsequently obvious, over the past five years as the US dollar has become increasingly suspect as a reserve currency; for that matter as a viable fiat currency. Did you ever have to make up your mind?
You do have to be quite involved to really understand what is occurring in the world around us. But understand this one basic premise and you’ll be miles ahead. Gold beats paper every time because you can manufacture paper but you cannot manufacture gold. Understand this basic premise. In your heart of hearts you know this is correct; especially if you’ve been around these markets for any extended period of time. What happens is that we get too close to the topics; in other words we cannot see the forest for the trees. We are bombarded every day with counterproductive arguments as to why paper is going to prosper when common sense tells us otherwise. Believe in the judgment of those people who have educated all of us in the ways of these financial entities. And then believe in your own judgment because you are correct.
There are seemingly dozens of cross arguments: inflation versus deflation, a recession versus something worse, a government that doesn’t seem to function in the best interests of its citizens, and economy that really doesn’t seem to be sustaining a country with the resources and the history of the United States. All of the noise, as Jim Sinclair puts it, is designed to throw us off track. Patience is our biggest nemesis. We must practice patience and the problem is patience equates with time. When you are sitting on a precipice, and the rocks are starting to crumble, time is not your friend. That is to say that most people need money now and in many cases they need a lot of it now. Incidentally, I don’t want you to feel alone because governments are facing the same dilemmas. My answer to this question is to find the right vehicle for you, study it from every angle, and then apply what you’ve learned in the real world. There are no easy routes to success. It is true that money begets money but it is also true that greed begets greed and that greed can ultimately rear its ugly head and bite you firmly in the butt. Become a master at something. Most importantly become a master of yourself! Most Zen Masters will tell us that we are perfect–we just need to understand that perfection.
On a more mundane level, become a master of one company– perhaps one gold or silver company; or one discipline–stocks, bonds, options, gold, silver and then learn everything you possibly can about that entity or vehicle. Perhaps you can study one sector such as gold or silver and learn the intricacies around it. Jason Hommel has made himself something of an expert in the realm of silver. I can see by his work that he is committed to knowing and learning as much as he possibly can about the “silver story” and is passing that knowledge on to those who would listen. He has become so good at it that people will pay just to see his portfolio. Jason is an honorable guy and this works for him and for the community as he has quite a following.
I would then urge you to take the first step, and realize that every journey does indeed begin with that first step. Look around you, see what’s going on in terms of reality, not in terms of what “they” are trying to shove down our collective throats. 95% of what we witness via mass media is noise. It is noise that helps the powerful keep the less powerful, the average citizen, in line. America is our country — it has always been our country– we just don’t recognize that it is nor do we act accordingly. And because we have not acted accordingly, and due to the grand design (Think “Creature From Jekyll Island” by G. Edward Griffith ) our country has been rustled away from us just as a rustler rustles cattle. A fitting metaphor since most of us have been acting as cattle. Mooooor trouble on the way?
America is not only for the power elite. The American dream is for each and every one of us and I can almost guarantee you that if we had direct input into some of the most critical decisions that have been made about this country over the past dozen years or so, we would be on the opposite side of 80% of them. Why? Because the decisions that were made were counter to good old American common sense. Americans do have common sense but most of our political appointees and our political legislators do not exercise theirs. Whose fault is that? Is it the cattle or the Rustlers? Who continues to put the fox in charge of the hen house? But then, who has the willingness to think and reflect in a timely and coherent fashion? Did you ever have to make up your mind?
Stay with your common sense. We should be looking for common sense in our leaders. There are very few free lunches. They would have you think otherwise. Perception is not reality. There are two worlds we live in. One is the way governments would have you perceive it, and the other world is the way it actually is– that would be the one that we live in on a day-to-day basis.
I’m going to close with this. The problems that I see facing this country right now center around the economy, well paying jobs and careers, the status of the US dollar which has eroded in value over the last 75 years, health care, illegal immigration, a biased tax system which has evolved into a total morass and not what the founding fathers advocated, and finally the Bill of Rights and the Constitution being slowly destroyed in the name of national security. Our foreign policy is also in shambles but this is not of great concern to the average American although it truly should be. Now I ask you, after this enormously long presidential campaign, how many times have you heard the candidates talk about those issues in a meaningful way. I’m not talking about a sound bite, I’m talking about detailed solutions for what ails America. Politics in this country is based upon perception and not reality. Think of the topics I’ve just mentioned next time you listen to one of those political made for TV commercials.
I want to hear how much PORK they are DEFINITELY going to cut.
Gold and Silver are Reality.
Did you ever have to make up your mind and choose your metals so bright and leave the other stuff behind? It’s a fight to the finish, the truth hard to find, but with good common sense, we’ll succeed in due time.
PS
Would you like to become an expert on one gold company and enjoy considerable upside potential? Consider Oromin Explorations (OLEPF.OTC). This is a company that has five drill rigs running 24/7 and they have already proven up well over 1,400,000 ounces of gold. My feeling is that it won’t be too far below 2,000,000 ounces within six months. Oromin is now selling at about $1.45 while at its highs a year or so ago, it was well over $3.50. The junior golds have been hammered–the worst in the last 25 years. I believe we’ve hit the bottom but it will take some time to rebuild the technical infrastructure of the precious metals markets. We could go back and test $700 but I would find that ever so surprising!Currently people want to own physical gold and silver but that will eventually change and the closer any good company is to production, the better they will do. Think advanced stage projects and small producers that have an opportunity to grow.Finally, Oromin is well financed and it is my opinion that when this market turns around, you’ll see OLEPF as one of the front runners. .Oh yes, and consider the management team.– Not too shabby! That being said, read the disclaimers on all articles.
Until next time,
D. Stewart Armstrong
Consultant to the Junior Mining Sector
