Avast Ye Steam-punk Scalawags!
________________________________________
Looks like the bewigged and wedge-shoed scarlet coats of the Federal Admiralty have thrown down their first frilly gauntlet and taken a shot across our portside bow last evening with a cannon-load of “hot grape” called “quarter point discount rate increase,” in the less civilized quarters of New Orleans and other pirate dens.
Powdered pooftahs that they are, they are already begging our mercy come the morn as we swing our starboard cannon about to rake their pommy sides amid-ships. Too late for them, and theirs, I’m afraid, as there’s gold in those Admiralty cargo holds and we mean to have it.
Let’s not get all a-sweat and a-lathered, me scurvy dogs. The thesis has not changed and certainly the Fed is not going to take the “brave man’s step” of setting the Caribbean afire with rum-soaked English scrip whilst our Parliament (of Whores) continues to spend like grog-stupefied wainwrights on barrel-selling day. No, maties, they seek to confound us with this Mary-move of callow authority. No man can call his actions bold while pleading apology in the next breath!
If anything, said grape-shot toss was mere subtrafuge to cover for additional scrip production in yonder Admiralty’s subterranean printing gaols! What will occupy the Admiralty’s cargo holds for years — baser and baser scrip — will be what ensures our golden Treasures worth!
So be not a-feared but rather emboldened by the tightness of Rear Admiral Bernanke’s wedgies, and the sagging of his pompadour. Now is the time to press the hot cutlass to their throats and let roar with musket, grape and cannon. The battle is near-won, me swabbies. Let us not then quail at the size of the Admiralty’s frigates, but rather laugh at their frailty — they are made of paper, lads!
_______________________
This day I shall be indulging in all me favourites, but most especially those in the silver Escudo doubloons, for the price of bonnie silver is racing back up even faster than that of gold. To that end I shall be indulging in me favourite miners, Silver Wheaton Corp. (USA) [[SLW]] , [[EXK]] , [[SVM]] , [[PAAS]] and maybe even the worm-bitten dogs [[CDE]] and Hecla Mining Company [[HL]] . [[AGQ]] is only for the traders, but it may boom off of any pullback here.
Don’t forget me favourite golds either, which number three — Allied Nevada Gold Corp. [[ANV]] , Eldorado Gold Corporation (USA) [[EGO]] and Royal Gold, Inc. [[RGLD]] . Some dogs that may be opportunities thanks to yesterday’s scare off could be New Gold Inc. (USA) [[NGD]] , Exeter Resource Corp. [[XRA]] , NovaGold Resources Inc. (USA) [[NG]] and Northgate Minerals Corporation (USA) [[NXG]] , along with Rubicon Minerals Corp. (USA) [[RBY]] and even [[BAA]] . Of course [[GDX]] is a great purchase if you want a catch all.
I also think the Ag side will continue to stay hot, so any weakness in Monsanto Company [[MON]] , The Andersons, Inc. [[ANDE]] , The Mosaic Company [[MOS]] , and Potash Corp./Saskatchewan (USA) [[POT]] should be seen as an opportunity. I will likely have more to say on this front.
Many of you may have seen I chose Cree, Inc. [[CREE]] as my March Madness pick (SLW is too volatile). I like it and Veeco Instruments Inc. [[VECO]] as my two hottest tech names for the intermediate to long term (the only way I play).
Best to you all, my hearties, and if anything today — WATCH SILVER — something seems to be “up.”
__________________________
If you enjoy the content at iBankCoin, please follow us on Twitter
Nice post… Seems like a great day for a pirate birth, uncle fucker.
Am I about to become an Uncle Fucker again??
Serious? Are you getting induced, or you just have a feeling?
_________
Live blogging from ground zero…
Are you at the hospital? Good luck, prayers etc.
__________
scalawags, lol.
Harrrghhh harrrrghh harrrrgh!
Here´s my GLD chart with some lines and stuff: http://fsc.bz/34f
Nice and agreuuuud.
EXK an opp, here.
Bot some MON at close yesterday, btw.. 60 April 75 calls at $5.15
_______
Also, I have a weakness for SA and I really like their business model a lot. It’s been something of a laggard during the last 9 months but I think it will run with a new upleg in POG.
They will announce the result of a preliminary Feasibility Study for the KSM project at the end of Q1 2010.
I think it’s worth having a little SA in your portfolio.
Before you do that, you did read the Baron’s story about junior mining company reserves calling into question the veracity of SA’s in particular not to mention the selling by an institutional investor recently?
Yeah, “SA” was very hot about 18 mos back, but has now fallen under a shadow. I’d stay away for now…
________
Opex day ’tis for wretched urchins, arrr
Gaaarrr!
‘Tis like a painful boyle (sic) upon me arse!
Opportunity does lurk, lads — seize it!
_______
That gap down was lame
The one stock(X) I wanted more of was actually up the whole time! I could have used more IAG but forget that now
BTW that pirate theme really suits you
Shhhhhh ! Tiger is making a statement 😉
More SEX therapy! DUDE! give me some of that 😀
I am gonna find GOD 8)
Jake does anybody in KY understand you? Really good post.
Enjoy your weekend.
Not even my wife or mother “understands” me. Lot of smart people down here in Kaintuck. They jest ain’t boastful about it.
___________
Jake man, you’re geeking the f-k out! First the francais and now the ersatz-corsair-talk. Chill, bro.
I like the pirate-speak. It’s kind of, uh, poetic. Smart as paint, as old Long John would say. And, it reminds me of the guy in”Dodgeball”, which is a funny movie.
Variety is the spice of life, there, Spooky-dude.
Maybe I’ll do a ghost-themed post soon, just for you!
_________
International Bear Rendezvous…
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/19/DD6G1C3A13.DTL
Ya know, “Talk Like a Pirate Day” is not until September 19th, iirc.
Yes, but today is the lesser known “Talk like a Steampunk Pirate Day.”
Aaaaarrrrr!
___________
From my post in the PPT about 45 minutes ago:
“For the first time in ages, now, silver is leading gold (up 1.6% to a flat gold price). I can’t emphasize enough how significant I believe this rare move is. If my hunch is correct, this could be the start of the long awaited gold/silver ratio contraction, which last week got to an egregious 71x, but which is more historically in the 40-50x range. If gold continues to rise (which as you know I think it will), that will mean silver will be “sling-shotted” and silver miners even more so. (Slungshot?)…..
I’d like to especially thank Tim Knight for shorting SLV earlier this week. ”
(Without him, none of this would be possible)
_____________
Ageud but it is a little disconcerting to buy with Uncle Fucker $ still going higher though the dip this am was rather brief …. Could there be a disconnect ? And if so, PAAS or EXK?
PAAS for safety, EXK for return.
(Relative safety, I should say)
I do think the PM’s and Dollar are separating here, however briefly.
____________
Ahh, aside from myself, I love the insane rantings of UNCLE FUCKER aka Jakob Gint.
He’s not insane, he’s differently abled. Like Sarah Palin’s kid. Wait, too soon?
How bout my snowboarding jazz cat to commemorate Shaun White’s gold metal win for US?
He’s indeud one crazy MoFo……..
I was wondering what that was! Nice.
____________
Grazie, Uncle O’ Paisan.
________
Jake, given Obama’s green initiatives, did you ever consider looking at the uranium miners?
BTW, topped off some RGLD, EGO, ANV, SLW and some EXK today. IOW, went discount-shopping on the morning drop 🙂
I owned CCJ at one point, and URRE, but own nothing now in that space.
I have taken note of Lung Sac’s favourite (sic), USU, and may grab some of that at some point.
__________________
Good news on that other stuff.
__
Yup …. I added EXK too even though I thought it was a little premature … now with silver up I’m not so sure about that.
I think this the right place for politics on IBC, this financial blog 😉 ….. so, Great news out of CPAC ; Ron Paul wins straw pole (sic) over Mitt “Gold Gloves’ Romney!
http://www.foxnews.com/politics/2010/02/20/ron-paul-wins-presidential-straw-poll-cpac/
CPAC is the true blue. Not sure if the rest of America is ready for Ron Paul yet, unfortch.
I think a great compromise would be Indiana’s current governor, Mitch Daniels. Re-elected w. some 80% of the vote in 2008 — a year when Obama won that state for the Dems for the first time in forever.
Problem is, Daniels says he won’t run as of now.
____________
True, not ready yet. Ron Paul touches every third rail in American politics: Social Security, foreign aid (Israel), Medicare, Medicaid.
As to dollar discipline, even I don’t want Ron Paul’s level of integrity. I’d like just enough Paulspeak and action to save our reserve currency status. But it would cripple us if we were to pay our debts with honest dollars or gold.
What will happen is that, instead of a principled person like Ron Paul leading the party, some asshole will come along and shop among libertarian principals in order to assemble an issue slate that can win: they’ll embrace the Likudniks of the Israeli lobby (no brainer), and then they’ll decide which group of poor people or old people they’ll be able to piss off in order to win the support of over-burdened babyboom-supporting workers.
What’ve you got against Israel? What about all our other lazy loafer “allies?” At least Israel provides some ROI. Wish I could say the same for Korea/Germany/Japan.
______
Israel has fallen to territorial expansionists who have no interest in justice for Palestinians, while more moderate Jews have been leaving.
So WTF is our ROI for supporting everything that Israel does? How do we benefit by supplying the cluster bombs that they used in their Lebanon slaughter? How do we benefit by their shitting on the Gaza? How do we benefit by their to illegally expanding settlements? How do we benefit when Israel bulldozes Palestinian neighborhoods? How do we benefit by being the lone country in the world that vetoes every Security Council resolution that seeks to restrain their behavior.
During the cold war, one might argue that Israel was a useful foil against Soviet-fed Arabs. But since then, our fealty to Israel has done great harm to our country’s interests.
Yeah! My man Mitch!
Oh geez. I cannot believe a rational libertarian can fall for all that anti-semitic ground cover. Listen, the “world” hates Israel because they love Saudi oil. We love Saudi oil too, but we don’t let it push us into betraying those who’ve been betrayed time and time again.
Does it mean anything to you that the Israelis allow Palestinians to vote, whilst the Palestinians (my heart breaks for them) don’t even want to allow the Israelis to live?
The answer to all your questions — “we benefit by being on the right side.”
____________
The standard fallback of Israel’s apologists when they have no cogent argument (and the fallback for politically correct cowards in our country) is to call all criticism of Israeli behavior “anti-Semitic” (or if the critic is himself Jewish, “self-hating”.) But I’ll give you the benefit of the doubt and assume that you, like many Americans, are clueless about how Israel treats Palestinians and that you are not just taking the safe route and seeking to use the anti-Semite card to shut off debate. But ignorance is no excuse. You, and all American taxpayers, fund Israeli militarism. It is your duty to learn about what you are funding. There is plenty of information available outside of our mainstream media, you should make use of it..
As to “the right side.” Give me a fucking break Jake. Israel is not always right and we are not always right when we support them. They are a separate sovereign ethno-religious-based country (unconstitutional here) which acts in what their leaders (who increasingly have to cow-tow to their own local religious nuts who think that God gave them all the land between the rivers and who want to kill all non-Jews who are in the way) see to be their own self-interests. We have won the hatred of millions as a result of our unqualified support of Israel. Consider the possibility Jake that shitting on Palestinians proved not to be a good (or just) cure for the EUROPEAN betrayal of the Jews. “The right side”: yeah, we would benefit if we were on the right side – and not always on one side out of fear of being slandered by haters.
Well said, Purdy.
Sorry, I hope you didn’t take my response as an accusation that YOU were anti-semitic. It’s just that old Alex Whatsisface on Prison Planet uses a lot of these “canards” to augment his conspiracy theory laden site.
I’m well aware of the history of that region, and of the attempts by many Israeli governments to live in peace with the Palestinians and others who profit from the opposite. Perhaps– as an example — you are familiar with the deal cut by Rabin and Bill Clinton, which essentially handed Arafat everything he could have wished for (okay maybe it was 5% away from “everything”) and which Arafat saw fit to reject.
You talk about ideological Jews wishing to kill non-Jews within the Israeli populace, but the truth is they are a very small percentage of the population. The people who want to kill all the Jews in Palestine are actually running the governments in Gaza and the Strip. You cannot compare the populaces, as the rabid elements have driven out most of the rational Palestinians, and what remains is an ideological war cult with one aim.
This is not even getting into the realm of Muslim Brotherhood, AQ, Syria, Iran, etc, etc, etc.
_______________
I am sure Uncle Fucker will concur & appreciate these sentiments on silver:
http://www.madhedgefundtrader.com/February_18__2010.html
“If you missed the great run up in silver last year that saw prices run up 95%, you are being offered a second bite at the apple. The latest round of risk reduction by global hedge fund has bashed the white metal, knocking $5 off of the $19.50 high seen in the heady days of November. Today we are at $16.15, and it looks like the 200 day moving average at $14.09 will hold. The metal is at the bottom end of its historic valuation relative to gold, which has ranged between 12:1 (Remember the Hunt Brothers?) and 70:1. Geologically, silver is 17 times more common than the yellow metal. All of the gold ever mined is still around, from King Solomon’s mine, to Nazi gold bars in Swiss bank vaults, and would fill two Olympic sized swimming pools. But most of the silver mined has been consumed in various industrial processes, and is sitting at the bottom of toxic waste dumps. Silver did take a multiyear hit when the world shifted from silver based films to digital photography during the nineties. Now rising standards of living in emerging countries are increasing the demand for silver, especially in areas where there is a strong cultural preference for the jewelry, as in Latin America. That means we are setting up for a classic supply demand squeeze. I think we could run to the old high of $50/ounce in the next economic cycle, if another monetary crisis doesn’t get us there first. Since silver can trade with double the volatility of gold, this forecast could prove conservative. “
Agreuuuuuuuud.
________
RAFALSKI!!
USA! USA! USA!!
__
Lucky bullshit goal off the bullshit phantom penalty power play given to the home team.
I guess that’s to be expected in the home stadia
__
USA wins against Canada for the first time ever in Olympic play.
Arguably, tonight’s win is as significant as the win against the Russkies in 1980.
___________
It’s nice, but it’s not the same as the 1980 win.