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Petróleo Brasileiro S.A. - Petrobras Message Board

bucketboy08844 5 posts  |  Last Activity: Jul 28, 2015 3:18 PM Member since: Aug 2, 2002
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  • bucketboy08844 bucketboy08844 Jul 28, 2015 3:18 PM Flag

    I wouldn't declare victory yet or get too excited sparky.

    The entire fiat financial system rests on the markets confidence in the power of central banks to ensure a positive outcome no matter what. That's just not how this is going to end. It just never does.

    The so-called bagholders are going to have the last good long laugh. In the meantime good luck with your bashing.

    Sentiment: Buy

  • bucketboy08844 bucketboy08844 Jul 28, 2015 9:39 AM Flag

    These banks will never get convicted, or even see the inside of a court room, regarding the rigging of the gold market. They operate with impunity because they act as agents of the Central Bank and the Treasury Department. The DOJ will not bring charges against the US Treasury for secretly executing the provisions defined in the Exchange Rate Stabilization Act. This act 'legalized' government market rigging of all kinds when deemed appropriate by the Secretary of the Treasury. aka the Plunge Protection Team.

    What we'll see if anything is an 'investigation' followed by an announcement that no conclusive evidence was found to support any gold market rigging charges. No details will ever be provided.

    The key fact about gold is that the price has nothing to do with the supply and demand for the physical metal. Prices are determined and managed through futures contract trading between speculators and the commercial banks absent any participation from suppliers and consumers.

    Another fact is that anybody with a sizable sum of funds could bust the COMEX at any time. The ratio of physical gold to contact volume is something like 1 to 100. All you would have to do is go long a number of contracts greater than the actual physical inventory available for delivery (a little over 8 million oz.'s) and stand for delivery. Either there would be a default of the exchange would force cash settlement. Or perhaps the Fed would tap the gold inventory at the NY Fed and 'sell' the gold it holds in custody for other countries to bail out the banks and shorts. Assuming there's any gold left at the NY Fed. Nobody will try this because the message has been sent that anyone attempting this will get stepped on hard.

    That all said, doesn't mean the entire rigging scheme can go on forever. Its like holding a beach ball under water and its going to blow up in their faces and when it does the subsequent price moves will be unbelievable.

    Sentiment: Buy

  • bucketboy08844 bucketboy08844 Jul 24, 2015 8:02 AM Flag

    The regulators and the exchanges are crooks too.

    Sentiment: Buy

  • bucketboy08844 bucketboy08844 Jul 14, 2015 11:47 AM Flag

    The Central Banks are desperate and the system is falling apart fast and we're experiencing the most blatant market manipulation through the futures contract market. The actual demand and supply of physical gold is totally irrelevant to the price and the law of supply and demand appears to have been repealed. Charts, technical analysis, and such things are utterly useless. The bankers paint the tape to show whatever pattern they want to appear.

    Everyone needs to understand that governments and central banks look at precious metals investors as enemies of the state. They are skeptics that have no faith in policies of the monetary authorities and their system. These people understand the adverse impacts of these policies and are buying precious metals as an escape. The last thing the central banks want is to have mainstream investors perceive there is a profitable exit from their system and have skeptics make more 'money' than believers in the system. They want to inflict losses on skeptics and discourage others from following their lead. They have virtually infinite ability to create money and buy/sell futures contracts and aren't motivated by profit or loss.

    Of course many still cling to the notion that gold/silver are the only market that still trades free and fair regardless of the overwhelming evidence to the contrary. Upon examination you're find that most of these people are well compensated agents of the very forces which conduct the manipulation.

    The good news is that at some point soon the entire scheme is going to fail fast and hard. And that day is much closer than most people think.

    Sentiment: Buy

  • Reply to

    McEwen has been an epic failure.

    by ulvy Apr 22, 2015 12:30 AM
    bucketboy08844 bucketboy08844 May 17, 2015 8:34 AM Flag

    McEwen left Goldcorp in good shape being profitable and with a horde or gold in its vault. The company ran into trouble starting in 2004 with the merger with Wheaton River with Ian Tefler (Telfer sold the gold inventory into the market) and then Glamis while installing their bad management team at the helm. To this day they struggle to recover.

    If anything McEwen's error with MUX was the Minera Andes deal. While it might have made sense at the time, and I recall Minera shareholders feeling they got shorted, the arrangement brought some excellent properties but it also brought the political and financial risks of Argentina to MUX that are THE major drag on the share price. Without this deal I suspect MUX would be trading at miltipiles of its current price. That said, when the smoke clears and Argentina gets a new government that may be more market focused this problem should disappear.

    Sentiment: Hold

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