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Silver Wheaton Corp. Message Board

skysoldier173us 10058 posts  |  Last Activity: Apr 30, 2013 4:32 PM Member since: Dec 11, 2001
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  • Reply to

    Is there any shorts out there?

    by jeffreydavis173 Apr 29, 2013 11:02 AM
    skysoldier173us skysoldier173us Apr 30, 2013 4:32 PM Flag

    I replied to you this morning but don't see my post?

    Carl Davis B/4/503rd.

  • Reply to

    Is there any shorts out there?

    by jeffreydavis173 Apr 29, 2013 11:02 AM
    skysoldier173us skysoldier173us Apr 29, 2013 5:38 PM Flag

    Where you with the "Herd"?

  • Reply to

    easy double here

    by chapman1933 Apr 22, 2013 3:52 PM
    skysoldier173us skysoldier173us Apr 25, 2013 12:32 PM Flag

    $1.99 in 1933 is like $36. today. I repeated because with the link I provided that post might be deleted. Check with any inflation calculator.

  • Reply to

    Gold’s fair value is $800 an ounce (Part 1)

    by mookaine Apr 16, 2013 3:38 PM
    skysoldier173us skysoldier173us Apr 17, 2013 9:16 AM Flag

    Much of the reasoning behind the bearish sentiment on gold stems from the perception that the Fed may end early its $85 billion a month "asset purchases program." Minutes of the recent FOMC meeting revealed that a few members of the committee had voiced opinions that the program could end early. A few weeks earlier, leaked minutes indicated the same. What's important is that Bernanke's office came out and said that it would tighten the controls on minutes because they had been misinterpreted, that asset purchases (Quantitative Easing) would continue until the economy had sufficiently improved.

    It has now been five years since the Global Financial Crisis, and trillions of dollars have been created to save the world's financial system and to revive the economy. Perhaps it can be argued that the financial system was saved, but arguments that this massive money creation has stimulated economic activity are weak. The best the money creation advocates can claim is that a depression was averted, but that is a claim that cannot be proven.

    We can expect continued money creation as Bernanke promised. If the economy worsens, we can expect an increase in money creation. Money created "out of thin air" is inflation, which results in an overall increase in prices. Just because we have not yet seen huge across the board price increases does not mean they are not coming. Historically, we have always had price inflation following monetary inflation.

    Meanwhile, do not be crushed in this gold smash. Nothing would being the manipulators at the bullion banks more satisfaction than to buy your gold and silver at these low levels.

    Bill Haynes

  • skysoldier173us skysoldier173us Apr 17, 2013 9:13 AM Flag

    Much of the reasoning behind the bearish sentiment on gold stems from the perception that the Fed may end early its $85 billion a month "asset purchases program." Minutes of the recent FOMC meeting revealed that a few members of the committee had voiced opinions that the program could end early. A few weeks earlier, leaked minutes indicated the same. What's important is that Bernanke's office came out and said that it would tighten the controls on minutes because they had been misinterpreted, that asset purchases (Quantitative Easing) would continue until the economy had sufficiently improved.

    It has now been five years since the Global Financial Crisis, and trillions of dollars have been created to save the world's financial system and to revive the economy. Perhaps it can be argued that the financial system was saved, but arguments that this massive money creation has stimulated economic activity are weak. The best the money creation advocates can claim is that a depression was averted, but that is a claim that cannot be proven.

    We can expect continued money creation as Bernanke promised. If the economy worsens, we can expect an increase in money creation. Money created "out of thin air" is inflation, which results in an overall increase in prices. Just because we have not yet seen huge across the board price increases does not mean they are not coming. Historically, we have always had price inflation following monetary inflation.

    Meanwhile, do not be crushed in this gold smash. Nothing would being the manipulators at the bullion banks more satisfaction than to buy your gold and silver at these low levels.

  • skysoldier173us skysoldier173us Apr 16, 2013 4:30 PM Flag

    The fall of gold is more evidence of man's ignorance.
    Gold is strongly correlated to the amount of dollars in the world and with the significant expansion of said monetary supply gold/silver should be much higher. We have had over a decade of wars and monetary expansion not to mention our massive debt that could never be re-paid without using a magic wand. We also have ZIRP, The zero interest rate paradigm of the Federal Reserve that acts as a destroyer of capital as well as to the savings of the elderly.
    It required the Fed to significantly raise interest rates (restriction of the money supply) in 1980 etc. before gold declined and we have not seen anything like that yet. With the massive debt we have it is impossible for the Fed to seriously raise interest rates to the 12-15% it was back in the early 1980's so don't be fooled by this temporary decline which could go even lower because sooner or later the truth always prevails.

  • Reply to

    Climate change

    by forwardflash Mar 26, 2013 2:56 PM
    skysoldier173us skysoldier173us Mar 27, 2013 2:59 PM Flag

    I have not visited these boards in quite some time.

    I notice that you as well as the other "usual suspects" still fail to realize that your lives are almost up and yet you continue to waste time sitting on your butts.

    I will check back in another year or two and see if you've wised up or ?

    Bis spatter.

  • Reply to

    Monday morning will open at $85

    by A Yahoo! User Nov 25, 2012 8:24 PM
    skysoldier173us skysoldier173us Nov 25, 2012 8:52 PM Flag

    Slavery was a part of the economic system. As such, it had to be profitable to remain viable. The reason than many slave owners raised cotton was because it was very labor intensive for many months of the year. However, by the time of Civil War technology such as the cotton gin was making slave owning less profitable. For example, a cotton farm with 100 slaves might then only need 60 slaves to do the same work as before the new technology. Thus, the cost of owning slaves became prohibitive and many slave owners were setting slaves free in their wills or before. As the percentage of people, especially black people, that were enslaved dwindled, slavery itself would have eventually faded away. A few rich would have tried to keep domestic slaves, but the general population would have eventually outlawed it as the freed black population grew in number and political power.

  • Reply to

    Tax Myth Busted

    by hacker_boob Nov 25, 2012 7:13 AM
    skysoldier173us skysoldier173us Nov 25, 2012 8:50 PM Flag

    I don't spend much time on these boards because I have much more of a life than you obviously do but your assertion that the wealthy pay the most as an overall percentage of taxes is blatantly false. True they pay more in income taxes but their "overall effective tax rate" is the lowest it's ever been in the history of our country @ between 13-18 percent and a major reason that the wealth disparity today is greater than it's ever been.

    Please try and be objective and use your brain rather than just parroting any random information you get from conservative sources.

  • Reply to

    Labor union kills the Twinkie

    by hacker_boob Nov 16, 2012 8:43 AM
    skysoldier173us skysoldier173us Nov 16, 2012 7:03 PM Flag

    Huh? I thought it was Obama's fault!

    You people are so funny. The American people have spoken so sit down and #$%$!

    By the way #$%$ it was your Republican hedge funds that are mostly responsible.

    http://www.cnbc.com/id/49853653

  • skysoldier173us skysoldier173us Sep 29, 2012 9:25 PM Flag

    I see that the Republicans have ended education, most notably spelling.

  • skysoldier173us skysoldier173us Sep 29, 2012 9:23 PM Flag

    Obama Your Momma is no more socialist than Reagan or "Boy George". He is just attempting to redistribute the wealth back to the lower class (read: "middle class") that the two "Republicans" stole from for some 16 years.

  • skysoldier173us by skysoldier173us Sep 24, 2012 1:32 PM Flag

    Date: September 24, 2012

    Reporting From: London, England

    [Editor's note: Frequent Sovereign Man contributor Tim Price, Director of Investment at PFP Wealth Management in the UK, is filling in for Simon today.]

    Never try to teach a pig to sing, advised Robert Heinlein. It wastes your time and it annoys the pig. Similarly, never try to convince a central banker that his policies are destructive.

    After five years of enduring crisis, market prices are no longer determined by the considered assessment of independent investors acting rationally (if indeed they ever were), but simply by expectations of further monetary stimulus. So far, those expectations have not been disappointed.

    The Fed, the ECB and lately even the BoJ have gone "all- in" in their fight to ensure that after a grotesque explosion in credit, insolvent governments and private sector banks will be defended to the very last taxpayer.

    Conventional wisdom is that such moves are justified during this period of economic slowdown, as everyone agrees that the market is 'deleveraging'. But as the consistently excellent Doug Noland points out, this idea of deleveraging (i.e. reduction of available credit) in the US is a myth. In the second quarter of this year:

    - Consumer credit in the US grew by 6.2%, the highest pace in nearly five years;
    - US non-financial credit market debt grew by 5%, the highest pace in nearly four years;
    - Total household debt increased 1.2%, the highest pace in over four years;
    - US Treasury debt has increased 110% in four years;
    - After contracting by 1.2% in the first quarter, state and local borrowing is now up 0.8%

    The numbers don't lie. Genuine deleveraging would imply a reduction in debt, especially non-productive debt. Genuine deleveraging would see market prices determined by fundamental forces of supply and demand, not by government intervention, manipulation and inflationism.

    Instead, we get a profound form of 'mission creep' by central banks, whose policies are now destroying the very same economies they are nominally tasked with protecting.

    In the words of veteran analyst Jim Grant, the Fed has evolved well beyond its origins as a lender of last resort and not much else, and now is fully engaged in the business "of steering, guiding, directing, manipulating the economy, financial markets, the yield curve..."

    It is a wholly specious argument to suggest that the creation of trillions of dollars / pounds / euros / yen out of thin air will not ultimately be inflationary; it is like saying that storing an infinite amount of tinder next to an open flame does not constitute a fire hazard.

    Admittedly, the explicit inflationary impact of historic monetary stimulus will not be fully visible until those trillions are circulating in the economy in private exchanges between buyers and sellers-- rather than squatting ineffectively in insolvent banks' reserves. But financial markets are nothing if not capable of anticipating future trends.

    Investors, traders, speculators-- call them what you will-- are already weighing up the probability of a reduction in future purchasing power; the prices of alternative money such as gold and silver, as denominated in unbacked fiat currency, are already responding.

    Financial repression, of course, is all about wealth transfer. Inflationism is the textbook response to a crisis of too much debt (even if you were the over-borrowed entity that triggered the crisis in the first place).

    Anticipating an inflationary tsunami is not a precise science because market confidence in intangible paper currency does not persist linearly. It lasts until it doesn't last any more, and then it runs the risk of shattering instantaneously, along with faith in most G7 government debt. Like Hemingway's idea of bankruptcy, we go broke slowly, and then all at once.

    But one of the most grotesque ironies of our time is that western government debt-- the asset class which is objectively the least attractive (as well as the proximate cause of the world's financial problems)-- is also the most expensive.

    But just because sheep-like bond fund managers are providing a real time lesson in the perils of agency risk does not mean we have to follow them down the primrose path.

    Cash, most forms of bonds, and fixed annuities all look like poor prospects for the years ahead. Productive real estate, defensive equities of businesses with pricing power, gold and silver all look like better alternatives.

    The last Fed chairman with the guts to do the right thing for the economy rather than just its banks, Paul Volcker, has rightly observed that "monetary policy is about as easy as it can get". Another round of QE "will fail to fix the problem". That is in part because the Fed, along with its international peer group, is now the problem... masquerading as the solution.

    Until next time,

    Tim Price
    Director of Investment, PFP Wealth Management
    Sovereign Man Contributor

    Sentiment: Strong Buy

  • skysoldier173us skysoldier173us Sep 23, 2012 8:29 AM Flag

    I believe that JPM would be bailed out by we tax-payers just as the Savings & Loan companies were in the 1980's and more recently the failed banks in 2008.

    Sentiment: Buy

  • skysoldier173us skysoldier173us Sep 23, 2012 8:21 AM Flag

    World War I
    In 1914, when war broke out in Europe, the American public did not want to become involved. While President Woodrow Wilson publicly declared that the United States would remain neutral, efforts were being made behind the scenes to ensure America's entry into the war.

    "Wars are extremely profitable for central bankers because it forces the governments to further borrow additional money at interest. Secretary of State, William Jennings Bryan wrote, "the large banking interests were deeply interested in the world war because of the wide opportunities for large profits."

    Allegedly on May 7, 1915 the Lusitania, an ocean-liner carrying American passengers, was deliberately sent into German controlled waters. The German Imperial embassy paid to have a warning ad in fifty East Coast newspapers, including those in New York, stating that anyone boarding the Lusitania would be doing so at their own risk . The ad appeared only in the Des Moines Register.

    As expected, a German U-boat torpedoed the Lusitania. German records indicate that a large secondary explosion followed the torpedo hit leading some to speculate the storing of ammunition. As a result 1,198 people of the 1,959 aboard lost their lives and the U.S. shortly entered the war thereafter.

    The central bank owns the presidents and Congress because they control the money supply.

    The borrower is servant to the lender.

    Sentiment: Buy

  • skysoldier173us skysoldier173us Sep 22, 2012 12:09 PM Flag

    What you fail to speak to is the fact that the redistribution process has gone on far longer than just the past four years. The only difference is that Reagan and GW Bush redistributed the wealth from the bottom up and the main reason for the greatest wealth dispartiy today that is more than it was in 1929.

    Reagan: The great American Socialist
    Share this story

    March 25, 2009

    By Ravi Batra

    Socialism has been much in the news for some months. Recently, some GOP stalwarts charged President Obama with preaching the heresy. John Boehner, the House minority leader, characterized Obama’s stimulus package as, “one big down payment on a new American socialist experiment.”

    “Socialism” is a pejorative term in American politics and needs to be carefully examined. It usually refers to increased government control over the economy, or policies that promote the redistribution of wealth.

    There is no doubt that President Obama’s economic measures, passed and proposed, will raise tax rates on the richest Americans to pay for increased government funding of health care, green energy and education.

    So the new president is indeed a redistributionist, but so was Ronald Reagan, except that Obama’s plans will transfer wealth from the rich to the poor, whereas Reagan’s bills transferred wealth from the poor and the middle class to the opulent.

    In fact, Obama’s measures are puny, whereas Reagan’s were massive. If the Democrat is a “small” socialist, Reagan was the Great American Socialist.

    Let’s go back to the early 1980’s. In 1981, Reagan signed a law that sharply reduced the income tax for the wealthiest Americans and corporations.

    The president asserted his program would create jobs, purge inflation and, get this, trim the budget deficit.

    However, following the tax cut, the deficit soared from 2.5 percent of GDP to over 6 percent, alarming financial markets, sending interest rates sky high, and culminating in the worst recession since the 1930’s.

    INTEREST RATES

    Soon the president realized he needed new revenues to trim the deficit, bring down interest rates and improve his chances for reelection. He would not rescind the income tax cut, but other taxes were acceptable.

    In 1982, taxes were raised on gasoline and cigarettes, but the deficit hardly budged. In 1983, the president signed the biggest tax rise on payrolls, promising to create a surplus in the Social Security system, while knowing all along that the new revenue would be used to finance the deficit.

    The retirement system was looted from the first day the Social Security surplus came into being, because the legislation itself gave the president a free hand to spend the surplus in any way he liked.

    Thus began a massive transfer of wealth from the poor and the middle class, especially the self-employed small businessman, to the wealthy. The self-employment tax jumped as much as 66 percent.

    In 1986, Reagan slashed the top tax rate further. His redistributionist obsession led to a perversity in the law. The wealthiest faced a 28 percent tax rate, while those with lower incomes faced a 33 percent rate; in addition, the bottom rate climbed from 11 percent to 15 percent.

    For the first time in history, the top rate fell and the bottom rate rose simultaneously. Even unemployment compensation was not spared. The jobless had to pay income tax on their benefits.

    A year later, the man who would not spare unemployment compensation from taxation called for a cut in the capital gains tax.

    Thus, Reagan was a staunch socialist, totally committed to his cause of wealth redistribution towards the affluent.How much wealth transfer has occurred through Reagan’s policies? At least $3 trillion.

    DEFICITS

    The Social Security hike generated over $2 trillion in surplus between 1984 and 2007, and if it had been properly invested, say, in AAA corporate bonds it could have earned another trillion by now.

    At present, the fund is empty, because it has been used up to finance the federal deficits resulting from frequent cuts in income tax rates. If this is not redistribution of wealth from the poor to the rich, what else is?

    Thus, Reagan was the first Republican socialist - and a great one, because his wealth transfer occurred on a massive scale. His accomplishment dwarfs even FDR’s, and if today the small businessman suffers a crippling tax burden, he must thank Reagan the redistributionist.

    However, FDR took pains to help the poor, while Reagan took pains to help the wealthiest like himself.

    Reagan’s measures were similar to those that the Republicans adopted during the 1920s, which were followed by the catastrophic depression. More recently, such policies were mimicked by President George W. Bush and they are about to plunge the world into a depression as well.

    Ironically, the Reagan-style socialism or wealth redistribution is about to destroy monopoly capitalism, the very system that he wanted to preserve and enrich.

    Sentiment: Strong Buy

  • The Next Recession Will Be Triggered By Oil
    Monday September 17, 2012 10:22

    I was confident that the Fed had already begun printing. That seemed quite evident by the overall action in the commodity markets, the dollar, and the fact that stocks were unable to correct in the normal timing band for a daily cycle low. However, I didn’t really expect Ben would come out and publicly admit it. That one took me by surprise Thursday. I guess Bernanke wants to get full value for his attack on the dollar and make sure that markets are rising into the election.

    At this point all the pieces are in place for the inflationary spike and currency crisis I’ve been predicting for 2014. We now have open ended QE that is tied to economic output and unemployment. But since debasing currencies has historically never been the cure for the bursting of a credit bubble, all the Fed is going to produce is spiraling inflation. So as this progresses we are going to see the Fed printing faster and faster as the result they are looking for never materializes. This is what will ultimately drive the currency crisis at the dollar’s next three year cycle low in 2014.

    At this point, watch the price of oil if you want to know when the next recession is going to begin. As I’ve pointed out many times in the past, recessions (well, at least since World War II) have all been preceded by a sharp spike in the price of energy. Any move of 100% or more in a year or less, has historically been the straw that breaks the camel’s back. Modern economies cannot survive that kind of shock. It invariably triggers the collapse of consumer discretionary spending and economic activity comes to a grinding halt.

    In 2007 oil surged out of the 3 year cycle low into a parabolic advance as Bernanke trashed the dollar in the vain attempt to halt the sub-prime collapse. That 200% spike in oil is what tipped the economy over into recession, which was then magnified in the fall of `08 as the financial bubble and debt markets imploded.

    I think it’s safe to say that Bernanke doesn’t understand his role in causing the recession of 08/09 as he is now making the same mistake again. I think he believes the recession was solely triggered by the financial meltdown. That was the icing on the cake, but not the initial trigger that caused the recession.

    Despite the complete inability of QE to heal the economy or job market, and since he really has no other tool, Bernanke just keeps doing the same thing over and over expecting a different result, but never getting it.

    Commodities are the check that prevents Keynesian economic policies from healing the global economy. Keynesian academics either don’t understand this, or refuse to acknowledge it. Until they do, or we install Austrian economic advisers in the government, we are destined to continue making the same mistakes over and over.

    So we will watch the price of oil as it rises out of its three year cycle low. If it hits $160 by next summer that will probably be enough to start the economy on the next downward spiral. If politicians get involved (and I’m sure they will) and try to impose price controls, they will multiply the damage and probably guarantee that the next economic downturn escalates into a truly catastrophic depression.

    Until we see the spike in oil and the corresponding damage to the economy, no one has any business try to short anything, well maybe bonds, but even that will be risky because the Fed is going to be actively trying to prop the bond market up and keep interest rates artificially low.

    All in all there is going to be so much money to be made on the long side, especially in precious metals, that no one needs to fool around with puny little gains on the short side, especially in a market that is going to be hell to trade from the short side. The time to sell short will be in 2014 after the dollar’s next three year cycle low. The dollar’s rally out of that bottom will correspond with the next global economic collapse, ultimately caused by the decisions made by the ECB and the Fed this past week. I dare say if they could see the damage their decisions are going to inflict upon the world and the dire unintended consequences, maybe they would finally stop kicking the can down the road and let the economy heal naturally. Of course that would entail several years of severe pain and politicians, as we all know, are extremely allergic to that.

    2014-2015 is when we are going to see the stock market drop 60-75% and the next great leg down in this secular bear market. But until then there’s probably a pretty good chance we are going to see the S&P at new all-time highs in the next 6 months – 12 months.

    Toby Connor
    GoldScents

  • skysoldier173us by skysoldier173us Sep 22, 2012 11:56 AM Flag

    The Next Recession Will Be Triggered By Oil
    Monday September 17, 2012 10:22

    I was confident that the Fed had already begun printing. That seemed quite evident by the overall action in the commodity markets, the dollar, and the fact that stocks were unable to correct in the normal timing band for a daily cycle low. However, I didn’t really expect Ben would come out and publicly admit it. That one took me by surprise Thursday. I guess Bernanke wants to get full value for his attack on the dollar and make sure that markets are rising into the election.

    At this point all the pieces are in place for the inflationary spike and currency crisis I’ve been predicting for 2014. We now have open ended QE that is tied to economic output and unemployment. But since debasing currencies has historically never been the cure for the bursting of a credit bubble, all the Fed is going to produce is spiraling inflation. So as this progresses we are going to see the Fed printing faster and faster as the result they are looking for never materializes. This is what will ultimately drive the currency crisis at the dollar’s next three year cycle low in 2014.

    At this point, watch the price of oil if you want to know when the next recession is going to begin. As I’ve pointed out many times in the past, recessions (well, at least since World War II) have all been preceded by a sharp spike in the price of energy. Any move of 100% or more in a year or less, has historically been the straw that breaks the camel’s back. Modern economies cannot survive that kind of shock. It invariably triggers the collapse of consumer discretionary spending and economic activity comes to a grinding halt.

    In 2007 oil surged out of the 3 year cycle low into a parabolic advance as Bernanke trashed the dollar in the vain attempt to halt the sub-prime collapse. That 200% spike in oil is what tipped the economy over into recession, which was then magnified in the fall of `08 as the financial bubble and debt markets imploded.

    I think it’s safe to say that Bernanke doesn’t understand his role in causing the recession of 08/09 as he is now making the same mistake again. I think he believes the recession was solely triggered by the financial meltdown. That was the icing on the cake, but not the initial trigger that caused the recession.

    Despite the complete inability of QE to heal the economy or job market, and since he really has no other tool, Bernanke just keeps doing the same thing over and over expecting a different result, but never getting it.

    Commodities are the check that prevents Keynesian economic policies from healing the global economy. Keynesian academics either don’t understand this, or refuse to acknowledge it. Until they do, or we install Austrian economic advisers in the government, we are destined to continue making the same mistakes over and over.

    So we will watch the price of oil as it rises out of its three year cycle low. If it hits $160 by next summer that will probably be enough to start the economy on the next downward spiral. If politicians get involved (and I’m sure they will) and try to impose price controls, they will multiply the damage and probably guarantee that the next economic downturn escalates into a truly catastrophic depression.

    Until we see the spike in oil and the corresponding damage to the economy, no one has any business try to short anything, well maybe bonds, but even that will be risky because the Fed is going to be actively trying to prop the bond market up and keep interest rates artificially low.

    All in all there is going to be so much money to be made on the long side, especially in precious metals, that no one needs to fool around with puny little gains on the short side, especially in a market that is going to be hell to trade from the short side. The time to sell short will be in 2014 after the dollar’s next three year cycle low. The dollar’s rally out of that bottom will correspond with the next global economic collapse, ultimately caused by the decisions made by the ECB and the Fed this past week. I dare say if they could see the damage their decisions are going to inflict upon the world and the dire unintended consequences, maybe they would finally stop kicking the can down the road and let the economy heal naturally. Of course that would entail several years of severe pain and politicians, as we all know, are extremely allergic to that.

    2014-2015 is when we are going to see the stock market drop 60-75% and the next great leg down in this secular bear market. But until then there’s probably a pretty good chance we are going to see the S&P at new all-time highs in the next 6 months – 12 months.

    Toby Connor
    GoldScents

    Sentiment: Strong Buy

  • Reply to

    Exterme wear you be?

    by eatatjoesforadvice Sep 7, 2012 8:30 PM
    skysoldier173us skysoldier173us Sep 7, 2012 9:06 PM Flag

    Extreme left town.
    Last I heard his wife was looking for the little idiot that lost their life savings!

  • Reply to

    Bubble

    by mrb43 Aug 31, 2012 12:46 PM
    skysoldier173us skysoldier173us Sep 7, 2012 9:03 PM Flag

    Duh, duh, duuuhhhh.

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