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As I sit here inside my famous Maine homestead, on the end of a sea-bounded rocky egg surrounded by pines, raccoons, osprey, snowy egret, billions of tonnes of mesomorphic and granitic stone, and sluggish black mosquitoes as big as your head, know that I’m thinking of you all fondly.
Today I kayaked all the way out to a remote island in the middle of the bay with my two older sons and a cousin of theirs. I was extremely proud to see them make it on what was a more arduous journey than we first conceived. It sort of makes one feel all the tonnes and tonnes of extraneous food they are now consuming is going to some good use in the gradual addition of competent sinew and bone. Be advised, however, the grocery bill on vacation, fueled by noshing and boozing adults and teenage boys exposed to the brisk northern air can look like the tally for a small air force base under battle ready conditions.
And that’s not even counting the “going out to dinner” tabs. I think I am going to insist on summer jobs from here on out.
Don’t expect much from me this week, churlish churls. I’ll not be like the Monsieur le Fly, regaling you with tales of Amish cow-tipping and such. No, you’ll be lucky to get the occasional report these next two weeks. I don’t expect to be doing much in the market save banquing coyne (sic), as it seems the PM run is going to continue whether I’m in front of my screen or not.
I’ve given you several names over the last couple of weeks, and I think the small ones will provide much bang for the buck (AAU, BAA, CGR and BRD particularly). There are a couple that I will be watching very closely, however, as their longer term chart patterns are appealing to me. Let’s start with AUQ, which I haven’t spoken much about:
I think there will be some pullbacks in the weeks ahead and I think these are your best bets, long term, on some kind of a retrenchment. AUQ has just had an awesome consolidation period. So has has the crazy Japanese Man, Yamana (AUY), which may have the biggest saucer pattern of the PM Renaissance Era. Tell me you don’t see something happening here?
And it’s not like AUY’s chart’s indications couldn’t be any clearer… in fact, I think in the end, you will see AUY do what RGLD is doing right now as we speak. Do you own the Grandmama of them all? If not, it’s not for lack of my nagging….
Be well, and don’t let the big ass black mosquitoes bite.
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Did I hear “deduction”?
With, ’bout, two years to go, I’m NOT celebrating 1913’s 16th Amendment.
Sounds fun Jake.
Prost!
Good. While you are away, I am stealing the bullion from your stores.
NEWS FROM THE FRONT: We ran into some “issue” in West Virginia, on the way to the vacated premises of Senator Gint.
Burrow on we will. Burrow on.
My stores are well guarded by vicious, ill-fed pit bulls and dobermans.
The toothless whooahs I sent to your road crew in W. Va is only a start
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I have many men, some can be used as food for your savage dogs, as we commit grand larceny on a barbaric scale.
While you are gone, I will further embed myself as the “go to source” for gold ideas, much to your chagrin.
Have fun playing with the pine trees and granite.
I found flecks of gold in some of the granite formations up here.
I may start digging under the house, much to GHW Bush’s chagrin.
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Meanwhile Silver is busting a move again, ovah heah.
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WTF happened to my av? Stolen by moles?
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Your av has been stolen.
Awesome. May I suggest a new avatar for The Senator? http://www.islandbreath.org/2010Year/11/101121emptyvault.jpg
ha ha!
Back above $40.
Try pointing at the house of Bush or climbing down the stone wall from the photo op area and see the bikers come to greet you … never mind digging, LOL
BTW, thoughts on Joe Conway’s new digs?
Joe Conway?
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IAG … now @ NXG and flying
Oh, I know a Joe Conway…lol.
NXG certainly is making a move again. Maybe something tonight. I own about 8k, not much.
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Joe was mad at the board for not acquiring another gold mine (San Dimas?) and left to head up Primero and acquired San Dimas from Goldcorp for Primero.
Now he’s apparently worked a merger deal with NXG whereby he becomes the CEO and has a new vehicle to grow another IAG ….
http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=111536&sn=Detail
CALGARY (Dow Jones)–After he takes the helm of Northgate Minerals Corp.
(NXG), Joe Conway says he’s going to exceed his past performance building
Iamgold Corp. (IAG) into one of Canada’s largest gold producers.
Conway’s mission to surpass his former company has personal overtones – he
abruptly resigned as Iamgold’s chief executive last year. Conway won’t go into
detail about that decision, but according to people familiar with the matter,
his departure followed a disagreement with the board over pursuing an
acquisition.
“I want to do better than that,” Conway said in an interview with Dow Jones,
referring to his time as Iamgold’s chief. Earlier Wednesday, Northgate
announced Conway will take the CEO slot at Northgate after it acquires his
current company, Primero Mining Corp. (P.T), for C$370 million (US$385
million).
Jake,
Got any interest in coal right now?
Yes.
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Nice pad. Enjoy the vacation.
LOL… that was a joke. That’s Bush Senior’s joint in Kennabunkport. We are farther north than that.
Thanks, though.
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How much farther, Jake?
Rockport area.
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Have you seen George and Barbara?
I haven’t but I’m told they are here.
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AUY, RGLD where is the buy point on the charts (?) , I need a little guidance here, thanks! The BRD and AAU trades worked wonderfully. Beautiful weather for your vacation, I live in New England and am enjoying it myself.
Real buy for AUY is a break of the consolidation in the 14 area. I’d get some now, in case it jets off one day, which I think it will when it finally breaks out.
RGLD — I’d just buy a retest of that second line. You should already own RGLD, sinner.
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Something to read from Rex on your vacation:
http://fullcomment.nationalpost.com/2011/07/16/rex-murphy-america-destroying-itself-from-within/
Thank you, I highly recommend both the article and the book he is reviewing there. One excerpt:
This space does not have length enough to tell how Fannie Mae and Freddie Mac were so thoroughly hijacked. The accounts given in Reckless Endangerment of executives James Johnson and Franklin Raines, just to pick two examples, are astonishing. These two were/are monsters of rapaciousness and arrogance. They so brazenly used the truly vast resources of their mortgage retailing to launch public relations campaigns, hire relatives of the politicians who oversaw them, fund lobbyists by the dozens, and orchestrate fake campaigns of “public support” every time two or three brave regulators began the Sisyphean task of calling them to account.
Reckless Endangerment tells us which elected officials did their bidding. If there is ever a Mount Rushmore for hypocrites, the face of Democratic Congressman Barney Frank — Fannie Mae’s friend in every sordid scrape (until nothing could be hidden anymore) — should be the first to go up. It was the complaisance and complicity of elected politicians like him that enabled Fannie Mae and Freddie Mac to achieve the power they did, to violate so utterly their own charters, to defy and slander their regulators (they set rumours afloat that one honest overseer was having “mental problems”) as long as the mortgage giants tossed funds into their political kitties, gave them ribbon cutting ceremonies for “minority housing,” and greased their re-election efforts.
The real story of Reckless Endangerment is more a story of democracy corrupted than it is a story of financial fraud. It is a story of America’s great wounding of herself. And even now, with this book, the full account is not nearly as known as it should be; and as the authors so sadly point out, nearly every one of the principals who brought such misery and shame upon their countrymen are free, prosperous, in many cases highly honoured and “serving” still at the highest levels of political and financial power.
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“Be advised, however, the grocery bill on vacation, fueled by noshing and boozing adults and teenage boys exposed to the brisk northern air can look like the tally for a small air force base under battle ready conditions.”
rofl!!! I can identify with that.
Just in the last year or so, since they “went teen” my two oldest seem like they are on a path to bankrupting me through massive food inhalation.
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http://www.youtube.com/watch?v=_8yZjIVNPKA&feature=autoplay&list=PLAA48F178B71EE991&index=23&playnext=2
Ultrasound shows a 3rd boy on the way ova heah.
Holy St. Eugene! Jake mentioned CGR! With Churchill backing down, Madsen results due, and a $1600 pog the Jake-factor has to light that fuse finally. That thing is so undervalued Senator, you think they could get an offer from like GG or someone?
Someone. Why not?
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Nice move in PCX today.
The picture made me laugh and nearly spit out my coffee early this morning. Very funny, sir.