Re: next up
in response to
by
posted on
Jan 17, 2012 07:39PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
What did TD do today? Did I miss something?
It's becoming an issue of time.
There's enough info out there to spell out what's happening the biggest problem is people don't know how fast it can happen. I'm advocating caution. Watch your investment carefully. If you trade be even more carefull and time things right.
People don't understand what's under the hood and therefore they have no idea how interconnected this is. If you think Greece is a problem think again. Greece just happens to be first on the docket. There's a long list.
Pasted below while it's still legal to do so is a snippet of an article to enlighten you. Oh, google SOPA Bill to find out how free speech online is about to end.
Complete Capture of the Derivatives Complex and Defiling of Fiat Capital
That irredeemable fiat money is designed to fail – by its very nature – is laid out very well in Chris Martenson’s, Crash Course – a staple which everyone is encouraged to take the time to watch. But rather than let the “fiat” U.S. Dollar fail, as all irredeemable fiat currencies are designed to do – the sociopathic miscreants in charge of the Anglo/American banking edifice have BOUGHT TIME through the capture of the DERIVATIVES PRICE CONTROL GRID – by blatantly commandeering the unlimited resources of the U.S. Treasury’s ESF along with the printing presses of the Federal Reserve. This is done to make historic alternative currencies, like precious metal, appear unworthy. This has further endangered the financial wellbeing of all who have acted prudently and financially responsible.
Physical Precious Metal: The Achilles Heel of Fraud
As the interest rate swap mechanism is used to corral interest rates – so are gold futures contracts on exchanges like COMEX and the London Bullion Market Association [LBMA] used to suppress the price of the U.S. Dollar’s number one competing currency alternative - gold.
The reality is that metals exchanges, like those identified above, have sold as much as 100 times, or in some case much more, paper ounces or promises of gold in the form of receipts than they have physical bullion available for delivery in their vaults.
There is plenty of documented proof available [even in the conflicted, dinosaur financial press] that conduits for procurement of physical precious metal like national mints have been choked or suspended for prolonged periods of time over the past few years for investment grade physical gold and silver bullion coins. These shortages have always been characterized by, or in, the dinosaur financial press as being the result of issues specific to the retail trade – like not enough gold or silver “blanks” available – from which bullion coins are stamped.
These reported bottlenecks fly in the face of anecdotal reports by the likes of major industry players such as Sprott Asset Management principal, Eric Sprott, who has attempted to bring an air of transparency to these opaque markets. In reporting on difficulties and delays his firm has encountered, procuring institutional amounts of physical silver bullion – Eric Sprott has reported that institutional amounts of silver bullion RECEIVED – was virtually all smelted AFTER it was bought and paid for.
The delays and difficulties receiving bought-and-paid-for physical silver bullion relayed by Eric Sprott over the past year are INCONSISTENT with the waterfall declines [sewering] of paper-silver-prices on highly conflicted and suspect exchanges like COMEX and also inconsistent with the notion that physical silver bullion shortages are strictly a retail phenomenon. The derivatives that trade on exchanges, supposed to reflect or aide in price discovery, are increasingly being used as tools of price manipulation.
Regaining control and the reinstatement of integrity to our capital markets requires market participants to continue saying “NO” to paper promises and yes to physical bullion.
Focus on M.F. Global
The conflicted nature of the paper derivatives exchanges like COMEX / CME and their regulators has recently been brought into disrepute through the collapse of commodity broker M.F. Global and subsequent revelations by the likes of commodity industry mavens Gerald Celente and Ann Barnhardt.
Celente, as a client of M.F. Global who wanted to exercise his COMEX gold futures contracts to take delivery of physical gold bullion – was denied his contractual rights when M.F. Global declared bankruptcy. He was screwed out of - not only his money in a supposedly secure segregated brokerage account – but his contractual rights to procure physical gold bullion at an agreed price.
Ann Barnhardt had a different experience. She was the principal of a brokerage firm which specialized in trading cattle futures – whose expressed purpose was to aide cattle farmers in hedging their on-the-hoof live cattle exposure. Recognizing the M.F. Global bankruptcy for what it really is – Barnhardt chose to close her own brokerage and return her client monies for fear that that the risk of confiscation of funds was an inherent and unacceptable risk for her to expose her clients to.
Ms. Barnhardt has become a hero of mine – correctly identifying the major exchange participants like Jon Corzine – former head of M.F. Global, former Democrat Senator and Governor of New Jersey and former Goldman Chairman, along with J.P. Morgan chief Jamie Dimon and regulators at the C.F.T.C. like Gary Gensler – another former Goldman lieutenant under Corzine, as being criminally responsible for breach of trust to investors and irresponsible actions threatening to destroy the integrity and confidence in our financial markets.
Barnhardt makes special note of how Jon Corzine was complicit in seeing to it that M.F. Global’s bankruptcy was filed as that of a securities dealer – with 4 thousand securities clients – versus that of a commodities dealer – with 40 thousand commodities clients – ALL so creditors like J.P. Morgan would have first call on the residual value of liquidated M.F. Global assets – leaving segregated commodity account holders of M.F. Global – screwed!!!
Ms. Barnhardt emphatically believes that Corzine’s and J.P. Morgan’s actions were pre-emptive, provocative and implemented with intentional malice toward commodities clients.
Subsequent to M.F. Global’s bankruptcy filing, it is a fact that the aggregate of all of the physical precious metal due to be delivered by M.F. Global to their clients – almost to the ounce - appeared as a “book entry” into the registered holdings of none other than J.P. Morgan.
This would appear to strongly support the notion that the M.F. Global debacle was physical, precious metals related or centric.
Ms. Barnhardt states on her blog,
“It is absolutely amazing to me, and frankly awful, that these interviews I do are so popular. Most interviews or radio programs I do wind up being the most popular (or top-three) for their respective program or host. And we talked about my "Going Galt" letter being #6 for ZeroHedge yesterday. Don't think for a second that I relish in any of this. The truth is, I find it very, very disturbing, as should all of you, that I, relatively insignificant me, am apparently one of the only people in Western Civilization who has the stones to simply state the OBVIOUS OBJECTIVE TRUTH. I am a minor cultural phenomenon because I basically say that one plus one equals two, and I can say it clearly and directly without a bunch of "uhs" and "ums" and "you knows".
Really? So all a person need do in this culture to be some sort of a hero is be able to string three articulate sentences together which state the obvious? God help us.
I have many detractors who say, "Who the hell is this chick and why the hell do we care what she says?" Yep. I'm right there with you. Where are the billion-dollar fund managers (excepting perhaps Kyle Bass)? Where are the captains and titans of industry? Where are the so-called "leaders"? WHERE IS THE CLERGY??? I'm cynical, but SURELY there must be SOMEONE ELSE who has a brain in their head and a pair in the bag who can speak proper English above a mumble besides me. Anyone? Anyone? My 15 minutes are surely winding down. Someone else is going to have to step up here.”
All I can say is, “Ms. Barnhardt, welcome to our ‘systemically polluted’ capital markets. As a staunch supporter of GATA I’ve been writing about it for at least 8 years. The folks at GATA are very familiar with and have been documenting the systemic abuse of our capital markets since 1998 - LONG before ANYONE ever heard of Kyle Bass and years before the world ever heard of ZeroHedge.”
http://abcnews.go.com/Blotter/farmers-sue-jon-corzine-missing-millions/story?id=15321298#.Twzp_Pmk58E