2008-10-22

IMPORTANT things...

Finally Minefinders Commences Leaching -
http://biz.yahoo.com/iw/081022/0445444.html , at the same time stock price plummed to $4.50... If this is not buying opportunity, I don't know what is it.

Gold testing support now - ~$750, everything but dollar is down. US Bond (TLT) is up.

HUI is under 200.

CRB crashed:
http://bonddad.blogspot.com/2008/10/wednesday-commodities-round-up_22.html

Hungarian currency - Forint is crashed:

Forint follies ... Argentine angst ... and more on mortgages
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/forint-follies-argentine-angst-and-more.html

Detail "Hungarian" article:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLrRRiiGyro4&refer=home

Helpful charts - Forint to EUR and Forint to USD.
http://finance.yahoo.com/q/bc?t=3m&s=EURHUF%3DX&l=on&z=m&q=l&c=USDHUF%3DX


Friend wrote:

It appears that the major government mints have conspired to prevent their citizens from obtaining gold and silver coins, despite unprecedented high demand for such. Thus at a time of financial turmoil, when the public normally turns to gold and silver as a safe haven, governments have prevented them from doing so this time. So, if one hasn't already stocked up on bullion, you aren't going to be able to do so now, except at very high prices, if you can get anyone to sell you any from their own supply.

Thus we have de facto confiscation, only the government doesn't have to call it so. They don't have to seize people's assets because not that many people have any to seize. They simply prevent the majority of people who want gold and silver from getting any. In other words, for most people, the government has "confiscated" their gold and silver by not letting them buy any. Very clever. At the same time, they're stomping on the price of gold and silver (in the U.S., anyway) to tamp down even the demand for it. The whole thing gives new meaning to "Don't Fight the Fed!" Very discouraging for those of us who have prepared otherwise. But I suppose the game isn't over yet, so we'll see how it turns out.

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