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aurum
Basel III
I think it was ororeef who had doubts about how Basel III would affect gold. His scepticism of the many pumps on sites about it’s effect on gold lead me to a little research.
Gold will be Tier 1 but only with an 85% hedge. The current hedge is 50%.
aurum
Ororeef great story about your business and investments
My wife and I started a business 40 years ago that we are still running . I think we are a little smaller than your scale, ha, about a dozen employees. Your last comment about keeping control of the cash is a good lesson for all gold bugs. Just substitute physical gold for cash; nobody else gets control of the physical. Wouldn’t it be nice to have so much that we had to use a vault, dreaming.
Ipso, Maddog
Ipso – yeah, I know – hard to believe I perform a job where I have to be an optimist…:)
Maddog – I’m afraid to look at the pm charts, somehow I’m guessing that all those golden crosses we saw a month ago have since been negated. To be sure, they can never let the SM go down again, it’s just too important to the pension system. I wish I had realized that 10 years ago.
They also can never let pm’s run to the upside either because that would indicate a crisis of confidence.
I’d like a complete do over on my life…
goldielocks @ 10:08 on April 3, 2019
Dear Goldie,The Margin call was a story by itself….I was having problems with my Franchise Co. They had the Company for sale and would guarentee a 15 % net to the proposed buyer in order to get the promised 300 million price.They were pushing Franchisees to the breaking point trying to extract as much as possible from them.
I had a $10,000 savings that was to be used to make a once a year additional rent payment .They were being a bunch of pricks with me ,so I used thier rent payment to buy some time with the broker. Wesley said “If you can send me some money ,I can buy some time with all the confusion going on in Wall ST…Everybody was grabbing cash anywhere they could.That led to the plan..I had one hour to wire the money to Alex Brown INC the Broker in NYC or I would be sold out .I ran out of the business.. to the Bank and asked the Manager to WIRE them the $10,000 I had saved for the rent payment before noon .the Bank manager said he could get it there.He was well aware of what was going on in Wall st.,but didnt know why I had the $10,000 saved.Withen minutes Wesley called me back ,,we bought some time ,he said hope for a bounce off the bottom ,then be prepared to start selling and raising cash to get back to required Margin amounts..It worked ! I got a bounce back and started selling .. I had 50,000 various shares in a few companies.Every point up was $50,000 …..at one point ,I got there ! Finally I said to myself…IMMM BACKKKKK… I chuckled at the thought of my preditory Franchisor fighting with the Broker who wanted to sell me out at the bottom. for the $10,000….I figured screw both of them,they were both willing to sell me out at the worst possible time. My plan worked ,in the end everybody got paid….because I kept control of the cash.
ISIS claims kidnapping and killing Canadian geologist in Burkina Faso
The Islamic State, or ISIS, has claimed it kidnapped and killed a Canadian geologist in Burkina Faso three months ago, according to the latest issue of the propaganda newsletter Al-Naba, circulated last week.
Halifax, Nova Scotia-based Kirk Woodman, vice-president of exploration for private gold explorer Progress Minerals, was found dead on Jan. 16 in rural Burkina Faso, after having been abducted a day earlier.
ISIS claims kidnapping and killing Canadian geologist in Burkina Faso
Incredible! The Demos want to destroy America
“Breathtakingly Terrible Idea”: Top Democrat Proposes Taxing Unrealized Capital Gains
Ororeef
That was somewild ride. I’m glad you were up to it. You should write a book on it. I’d buy it. I don’t understand how you survived the margin call without losing everything. Sad about your broker, he sounded like a good guy. Perhaps he was on blood thinners. The levels have to be watched frequently. If I were a scientist I’d figure out a finger stick method they could do every week.
I think all men over 50 should get a EKG and blood work up every year. They don’t do any physicals anymore either. If they did they would of caught my brother before he died of congestive heart failed they didn’t even notice two months prior. He was going too much weight. I could see it in a picture when he was doing community service collecting donations for Christmas picture. His color wasn’t good. Tell them to see a doctor NOW you have to tell them to ask the doctor what to check! You go to the doctor you won’t get much and might not even read the results of any blood tests.
If they don’t do a ekg on you yearly tell them your having heart palpations.
I have a test for circulation and it came back no circulation problems, I go to the doctor and had another doctor they come and go from other countries and she says so you have circulation issues. I said no, I had a test and asked her if she read the results??!!
Buygold
Monday saw a Dow Theory Buy signal, thus cancelling the December Sell signal. Yesterday the Nasdaq almost saw a Golden cross, but is well on one today, so that completes the Dow and S&P…the dow crossed 19 Mch and S&P 1 Apr…..so yes all systems go !!!!!
Buygold
You’re such an incurable optimist!
Major snapback rally today
Gold up $1, silver up $.03
all this on the back of a weaker USD to start the day
I recall the 1960’s BULL Market
near the end about 1968 it was so irrationally exuberant The FED raised MARGIN RATES 3 TIMES until it got to 90 % cash needed to buy stocks ..90 % did it ,it crashed into 1969 ,then caused the 1970 t0 1975 BEAR MARKET …really bad DOW at 750 !.I was out of the Market for the 1969-1975 period because I had just started a business and didnt get out of debt until mid 1974 .Fortunately for me 1974-1975 were profitable business years for me.I accumulated some cash and thought about re entering the Market again . I hadent spoke to my broker for almost two years prior to 1975 .There was NO market to even think about,it was just cascading down for 4 years .
The worst Bear Market I had ever seen.From a Dow over 1000 to 750…! January 1975 I saw a BOTTOM finally after 5 years ! I walked into my office to call my Broker and reached for the wall phone and just at the instant it RANG..The voice at the other end said VINCENT do you see what I see ? …IT was Wesley my BROKER ! I said you wont believe this ,,about 2 seconds ago I reached for the phone to call YOU .! “I have some ideas “,he said .
I was ready to put to work my recent business profits back into the Market .To make a long story short I turned $20,000 in jan 1975 into 1.6 million by 1987 when I got clobbered because of Margin trading..IN ONE day I had lost lost everything,had a $250,000 margin call .I was about to lose the House ,the car ,the business .I had 4 kids in College at the same time…..I struggled and with some co-operation from my dear Broker I survived ..I got a big bounce back in my stocks and finally started to liquidate my margin debt ..That was a long story .I still had enormous profits because my costs were so low.I went Short against the BOX from october 1987 to Feb 1988 to get into the next year and avoid TAX problems until my mind was clear again.I told Wesley to send me $54,000 ,he said you’ll have it in two days..By He way if you dont mind asking ,what are you going to do with that money after all you been through !.I said Im getting totally out of debt ,Im paying off my Mortgage ! He laughed and said I dont blame you !
In February 1988 I called Wesleys office and asked to speak to him and al I got was silence at the other end…,a voice said ” dont you know ?”. I knew something bad had happened.!.. Wesley died !,I was in disbelief ,I said what happened ? She said he went to Hospital with internal bleeding and it couldent be stopped. The Market crash had killed him. I still miss him to this DAY….With his help fighting for me so his boss wouldent sell me out at the Bottom . I survived and he died. Ill never forget him…I went from owing $850,000 to the Brokerage firm to zero in three months .Everybody get paid in FULL because I didnt get sold out at the Bottom..
Lady GAGA sings about it, Biden Demonstrates how its done !
Former college student and sexual assault survivor Caitlyn Caruso told the Times that Biden rested his hand on her thigh at an event on sexual assault at the University of Nevada and hugged her “just a little bit too long.”
Biden attended an event in 2016 at the University of Nevada in Las Vegas with Lady Gaga, who performed her Oscar-nominated song about sexual assault, “Til it Happens to You.”
Blowout Train
Steam boilers usually ran around 200 psi… unless a bad joint or weak steel let go. Luckily, this one blew out the front end and took the flue pipes with it. If it had been the other end we would have had “Engineer Shish-Kebob” impaled and roasted.
Demos love throwing our money down the drain.
Want to waist more money into Puerto Rico where it disappears and already got money instead of our fellow Americas of the mid west states currently under water and lost so much. Back as wards waisting money. Meanwhile they’re worried about Tequila and avocados we could grow here if Trump closes the borders which he should instead of our farmers that feed the world. I guess all they Eat is avocados. Well we know they are worthless. They’re not just worthless but dangerous. We already know that. I like to see them get thrown out on their arse when they campaign there.
Commish and Treefrog
Killing cats and dogs, unless you live in China.
treefrog – What about Cats
Facebook would go out of business.
If no more margin were allowed
the banksters could still print up plenty of fiat to play against themselves
that’s what they’re doing now to suppress the prices
This game will go on long after I’m 6 feet under.
commish, re :10:21
if they were killing puppies instead of babies, america would have shut them down long ago.
Oro is right
They should just tell people no more margin allowed. Game over shills.
Nice to see you Surveyor
I know you’re good company. These bankers had beat me to pieces and at this point I’m just hoping for a miracle so most likely they’re going to toast me.
Maya You’re not gonna believe how many people are in the city now and how bad traffic is going up into the mountains. I think they’re going to have to bring the train back even in the summer, just give it a few years. No other choice.
Back in!
Holding long and strong (and perhaps stupidly) since 2000, but I admire posters like Richard640 and EEOS who are sometimes able to outthink the banksters and scum, and Ororeef for his pungent comments. Also, Mr. Copper has a lot of common sense. I read Oasis Forum every day, and want to support the next fundraiser.
