Dear Jim,
The old golden rule: “Those who have the gold, make the rules.”
The new golden rule: “Those that make the rules, makes the rules (and don’t have to produce the gold.)”
I wrote you about that some 3-4 years ago. It seems to be coming true. I talked to CIGA JB Slear last June and he said delivery after Dec would be dicey. First I hear that they’re giving shares of GLD instead of actual gold and now they make it more difficult to get in…
From Cafe Americain:
"The COMEX gold margin requirement is going up overnight. New levels are $5403 initial per contract (the old one was $4500), and $4002 maintenance."
Change you can believe in. Vox pecuniae and all that. Why raise the margin requirements now after a ten percent correction?
The bullion banks (the bears) are edgy because the buying has been particularly robust in the physical metal at this price level, especially the further one gets from New York. Open interest in the futures has been remarkably resilient, showing very little long liquidation. A failure of the commercials is never a pretty sight.
CIGA Juno
Jim,
But do people know that it’s the "blue rinse set" that’s going down?
Grandmothers are dropping like…
Something must be done. This… can’t go on?
CIGA Keith
CIGA Keith,
Truthfully, the answer is no.
The elderly have been thrown out of society by disrespect and financial calamity.
A society that fails to respect its senior citizens is not a society. It is a gaggle of people with no purpose.
Jim
Jim,
Vincent K. Snowbarger. "We won’t fail to meet our obligations to retirees, but ultimately we will need a long-term solution to stabilize the pension insurance program." JSMineset.com 12/14/09
Is printing money to give to retirees not a failure to meet its obligation?! To provide a means through which one can live comfortably in old age?
This charade is akin to putting on a big smile while turning the knife in their back. Welcome to 21st Century accounting, Mrs. Smith.
Just an observation.
CIGA Hk
CIGA HK,
Sure it is. This is more Pretend AND EXTEND MOPE
Jim
