gkc
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Buddha -- and gold
Buddha
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Clifton!

Where the heck do you live now?

The good news, I bought two for each kid, for a total of four, so I'm up 80%!

There's a big mining company here in Nevada trying to get the state to seize some ranch lands and hand them over as an "eminent domain" thing...I've been watching and thought maybe I'd hit that stock the minute the verdict is announced, if it's in the mining robber barons' favor.

I hope you are well, Clifton!

gkc
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"Ich wand're in die Berge." Nothing so metaphysically final as Mahler's translation, but the reasons are the same. I just got tired of the graffitti and the masquerading importance of the pseuso-"edge" of big city life. And, I decided to FINALLY use my GI Bill benefits.

Life is wonderful in the High Sierras. Nobody locks anything up. After all, there is nothing worth stealing, and everybody owns a gun. And my neighbors have my back and I have theirs. What could be more simple?

I hope you can come see me some time. It's about 3 hours from Sin City. You and yours are always welcome.

My "little rig" (the Triangle Volante 260's, the Cary SACD player, the Adcom preamp in passive mode, the Basis/Benz phono system, and the Musical Fidelity (solid state)/Audio Innovations (tubes, EL-34's) amps (we won't get into the wires..) turn me on continuously.

The big rig (big Triangles, Ayre pre-amp/amps for solid state, and AR/VTL for tubes) lies further North, and is surprisingly similar to the little rig. Big surprise.

I came up here for Thoreau-like reasons, although admittedly less pure. I am not "pure" in anything, as you know, but I know what I like regardless of what others tell me what I ought to like. And music and trout are what I like, these days.

I am happy as the proverbial clam, here in my dotage. What else could anyone want?

Best to you, old buddy. Say hello to the big guy (Dave, as I remember -- forgive me if I remember wrong...) and give him my best wishes, too.

I am dropping out of the chat scene. Too much noise. Still, I remain an active trader and music lover. Whatever that means. Life without love sucks. And I love music and the dark backside of the political/economic illusions being foisted on us all.

Sheesh. Don't get me started...

Lamont Sanford
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Quote:
I am dropping out of the chat scene. Too much noise.

Noise? Like making too much noise leading a night patrol your first day in Vietnam. I get it. Good fluck.

ozpomfromhell
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A few years ago, gold was half the price it is now. More or less.
But these days the US dollar is only worth half what it was a few years ago. More or less.
From anywhere else in the world, gold is worth about what it was then.
Bit in the USA you MIGHT be sitting on a one off opportunity as (and IF) your currency comes up a bit.
Of course, whilst a year ago, the talk was of the Australian dollar getting to 1.05 against the US dollar, last month my advisor said to pull investments back into Australian currency when the level hit 0.78 (at the time it was around 0.82). Now it's back up (from my direction) to around 0.87.
With projections of major trouble in the Euro-Zone next year, it's time to have a direction... whatever the hell it should be.

gkc
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I have no idea what you are writing about. I see no point in it. Gold is in a generational bull market for fundamental economic reasons, and speculators are goosing the price at the extremes.

Yawn. What else is new?

Could you please focus, so I can make sense out of your comments?

You have a snazzy avatar. Congratulations. And your name is, er, "hip." I think. So who are you, and what is your skin in the gold game? My skin is about 3.2 million. And I am, by NO means, a large player. In fact, I am rather small, as paper-inflated pseudo-wealth numbers go these days.

What's your point? And do you MATTER, when it comes to gold?

Otherwise, good luck, and happy tunes.

gkc
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"Noise," as in "bullshit." I have been portrayed as a snob. Nothing could be further from the truth. Look. I came on here because I loved the technical AND subjective commentary from the Stereophile crew. Generally, more money buys you better sound. Specifically, bargains are out there to be had.

You have to recognize BOTH in order to make sense. JA, Stephen Mejias, Mikey, and Art Dudley do a great job walking the tightrope between common sense and reckless indulgence, all in the service (yes, SERVICE) of the love of music.

Unfortunately, a great, vapid cloud of bullshit befogs the basic issues of musical enjoyment in the home.

And I won't even get INTO the freestyle inanities of the "open forum." Still, it is a good idea -- you punch into the category and open yourself up to fantastical subjective... ummmmm, bullshit.

Have a good life, Lamont. So will I.

Realize that your opinions, like mine, have absolutely NO sway in terms of how the world turns.

Noise during a recon mission gets punished. Noise on the web just goes on and on, and on and on and on.

Good night and kiss my ass...

ncdrawl
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I thought Clifton got lost up his own ass. Glad to see you back, Mr. Fucking I LOVE TO TALK ABOUT HOW MUCH IM WORTH

Jesus. Go get me a box of grid squares, bitch.

gkc
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Flattery will get you nowhere, loser. Yes. L-O-S-E-R. The last time we had this conversation, gold was bumbling around the low 700's. Now it is 1200 + and movin' on up.

So what is YOUR excuse for being a public moron, and penniless to boot?

Kiss my ass, loser.

ozpomfromhell
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I'm not in gold at all. If you had read my post you would have seen that the price has gone up (in US dollars) at more or less the same rate the US dollar has fallen in value against the Aussie dollar.
Now that is more or less word for word the same way Iw rote it before. With luck you will be able to understand it this time.
If you are taking financial advice from the regular posters here I assume you spend most of your day at the unemployment centre.

Orb
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Hah you could be like Great Britain where Gordon Brown years ago sold our gold reserves for Euros and said it was a great deal that would be worth much in the future....
And now there is a possibility in the future the Euro will be gone or definitely fubar.
I wonder what happens to a country when the money markets decide you have no reserves, ah well we can continue to print good old pounds in the same way Zimbabwe do.

Oh to live in the UK what joy

Thanks
Orb

ozpomfromhell
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At least the UK is nowhere near the debtor that the USA is.
I assume the country has a debt brain at the bottom of its tail that takes a long time to realise it's dead... in the meantime some of its citizens continue their financial willy waggling...

Buddha
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From figures published May 2010, UK public sector net debt was

Freako
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World economy for beginners:

They all say they have $10, but no one really have more than 5

ozpomfromhell
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Now if we can just get our rather wimpy ever so slightly left of centre prime minister to stand up to the bottomless pit of industry hysteria and implement the resource super-profit tax, we will be sailing along again.
They don't call Australia The Lucky Country for nothing.
It's natural gas next and despite the ridiculous rises in property prices (you can call it "value" as long as you don't try to buy anywhere!) over the last decade which has damaged standards of living across the board, we may well still be at the top of the world's most liveable countries.
who wants to live in Oz?

Lamont Sanford
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He's dropping out of the chat scene.... Can't you see that?

ncdrawl
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Quote:
Flattery will get you nowhere, loser. Yes. L-O-S-E-R. The last time we had this conversation, gold was bumbling around the low 700's. Now it is 1200 + and movin' on up.

So what is YOUR excuse for being a public moron, and penniless to boot?

Kiss my ass, loser.

I pay my bills, and I have nice things! but I wouldn't give a happy goddamn if I *was* poor. You are not what you own, you old bastard. I bet you used to get blanket parties a lot, you damn blister bandit.

Lamont Sanford
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Clifton always comes on here when his staples start running low pretending he is comfortably wealthy. Truth of the matter is he is not getting his grilled cheese sandwich until after the 1st of the month again.

Buddha
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Jim Tavegia
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My sincere guess would be that if he is waiting it is because his "cheese" is being flown in everyday from Switzerland. lol He is not waiting for the shipment from Wisconsin and I am sure no backorders from Kraft.

gkc
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Very good, Buddha.

gkc
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"I'm not into gold at all." Pity. You are missing a generational bull market.

"More or less..."? Make that more. Over the past 6 months the $USD has been in a corrective rally (that is, a short term rally within a longer term bear market). And gold has STILL been making new highs, against not only the $USD, but every other fiat paper currency on the planet.

You haven't broken even, by holding Aussie $ OR US $ and missing the move in gold. You have lost ground, and significantly so.

As for taxing the miners, your comments are refuted by Economic History. Over-taxing businesses of any sort has always led to the same results -- lower growth and higher unemployment. Many of the majors AND some of the juniors have cancelled projects already, because of these threats to their respective bottom lines. And those projects would have employed thousands of prospective workers, and this kind of hiring always gets leveraged throughout the entire economy.

That's just the way business works. Especially THESE days, when global opportunities are easily exploited as parochial taxing squelches local growth potential. It's just too easy to move, nowadays.

Perhaps that's why Rudd just got canned.

As I wrote earlier, your points make no sense. You ought to run for public office...

ozpomfromhell
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It's unfortunate (for you) that the first par of your post is simply untrue and the second part is simply... untrue.
Still you keep up your ability to alter any change in taxation into "over-taxing" and any moment now you'll find yourself in the world's biggest debtor nation and with an economy in major decline... D'OH! Too late.
How do you tuie your shoe laces?
Or do you need someone to do that for you?

Monty
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The main difference between our debt and most other nation's debt is that we have the ability to print more money. Being the world's reserve currency has advantages. So, our debts are 100% guaranteed. However, that guaranty comes with a catch. Although your claim on our debt is as solid as the rock of Gibralter, we can simply reduce the value of our currency and the dollar's purchasing power by cranking out more of them. That is the value of "thin air."

Governments don't implement austerity measures out of fiscal responsibility, they do so as a result of having it forced on them by outside forces. When you have the ability to print more money, you never have to worry about austerity. Politicians will always choose the slight of hand tactic of devaluing their currency and its purchasing power and thus picking the pocket of its citizens rather than reducing spending and balancing budgets.

My point is simply this; Whether it is gold or some other hard asset or commodity, perhaps even goods and services, don't kid yourself into thinking that you will get much time to convert those worthless dollars or other paper currencies before the eventual house of cards crumbles. Do something with them while you can and while they still hold the luxury of confidence in trade.

It's becoming increasingly clear that the Keynesian approach to economics is a failure. The required velocity of money multiplier has produced nothing but a mountain of debt that can never be repaid with constant dollars.

The best case scenario is a slow slide into ever worsening conditions. However, history, both political and economic, suggests a rather abrupt change with little or no warning before things spin out of control.

I'm certainly not able to predict when this will happen or what catalyst will be the straw that breaks the back, but this isn't complicated stuff to understand. It's rather straight forward and entirely transparent, with hundreds of years of history from which to draw conclusions from.

Here's hoping for the slow decline. It's by far the better scenario.

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