- advertisements -
Did anyone catch Becky Quick's aggressive questioning of Warren Buffett on CNBS between the girl in her pajamas studying for a MBA and Bill Schaefer made a financial gain with his invention commercials?
Her pointed queries had the old SOB sputtering and hacking evasive denials. My favorite was Becky's probing request to know how Warren feels about investing so successfully during the financial meltdown. Priceless!
Yes but Bill's profit is NOT typical!!
If that chick in her pajamas is studying for an MBA in 'pole dancing', she might have a shot at making something for herself...
Becky should take notes...
I wish that girl was around when I was applying for Graduate school. Geez, to think that I got an MS by going to class, paying tuition without loans, and getting a 4.0 is so 1998
As WTI is up $2.20 to $98.85...all is well! Rally on!
(earplugs, pop-corn and chase lounge in place for the train wreck...it's going to be loud.)
African "governments" lol.
The problem is that EVERYWHERE, governments want to spend and keep the profits of successful ventures.
Nevermind that the fucking governors themselves never had the initiative or knowhow to get anything done. All they know how to do is steal, like a bunch of common street thugs.
Look at what Norway has done with their crown royalties and compare to S. America or Africa. Or even the Middle East.
Bring it on bitchez1
Silver to the moooooon.
In the medium to long term yes. Short term though as ZH has said previously, I think silver and all metals/commodities will trend downward. They simply have to if the Bernank wants his QE3.
I honestly feel that silver will primarily trade sideways with slight downward momentum as we head into August. Resistance level of around $32-33 seems reasonable.
Thoughts? I can't see gold and silver exploding higher in the short term especially when the US officially raises the debt ceiling.
since the paper price seems to have little to do with principles of reality I think you're right.
I have no original thoughts when it comes to price movements, I literally have no fucking clue, but if it dropped precipitously I have physical cash to exchange for physical silver.. so whatever. otherwise I don't really have much spare to play this game.
people in a speculative position on silver whose buy-in is mid 20's might get scared and sell if it breaks thirty, which could lead to temporary rolling to the back up the truck brigade.. but I can't see this being either an orderly decline in price, or a steep one time selloff.. either way i think it might ratchet up or down (most likely down) a few percent, but then be caught by the faithful and go sideways for a while more..
so basically, the inverse of anything I just said is likely more true than anything else, because I really shouldn't even be voicing an opinion in this circle. I couldnt list a price target with a clean conscience, realising my constant inability to call shit.
Yeah I'm with you. I'm not playing the short term. Just was looking to capitalize on recent gains of some of my mining stocks. I agree with ZH and many of the regulars here that all commodities/equities/metals WILL show weakness (metals in terms of paper prices and some more than others) over the next month or so. Just freeing up cash in anticipation of this. We're nearing the year high on the DOW...Find it highly unlikely that we'll eclipse it (and if we do, not by much). The time is ticking on the market.
In the near future, physical demand and pricing will completely diverge from the paper. But for now, paper does dictate a lot of physical pricing (and also pricing in many metal stocks).
Robo projectile vomiting blood.
I think it is more likely Robo is trying to shit while running at full speed - http://video.google.com/videoplay?docid=5607186224242106152#
LOL WTF! :D
Aww, blood puke, good song title:
Mining Stocks = Political Risk
Higher taxes get passed on as implied by the title of the article.
A new Scramble for Africa coming soon??? I know Zambia has a lot of Chinese in pith helmets running around, and the locals don't like it too much....
fuck the locals. At what point is anyone going to call Africa out for its indigenous failure to develop its OWN resources?
No doubt they`ve been useless. You`re not allowed to ask a roomfull of people "What have you done today that wasn`t made possible by a technology invented by a white male"
BUT if the various commodity prices only go up from here the locals may end up having the last laugh.
I worked for a sub of a very disorganized home builder. He`d piss away months and months with a half-built house for no apparent reason other than bad planning. However he was in a hot market (Okanagan Valley) so he`d always make way more on the increased house valuation than his dipshit behaviour cost him.
So if the commodities uptrend continues for a few decades than maybe being inept at getting the resources out of the ground is actually beneficial?
You're right about African governing incompetence, but the Africans are 'good' at low-level brushfire guerrilla wars that last 40+ years. When the locals get pissed, they take to the bush with RPG's. Worth keeping in mind from an investment standpoint.
Meanwhile, while all sheeple slumber in their comas oblivious and the stock junkies sit mezmerized by squiggly lines, Obama puts up Socialist Security and Mediscare for deep cuts, and Geithner (apparently new ruler of USA) tells Obama 'Fuck the congress, just hand me $2 trillion more dollars NOW'!! AAA HA HA HAAAAAAA!!!
Remember folks - when the world can't - Afri-CAN!
Suck on the exhaust pipe - this is colonialism in reverse.
Too right that Africa is not going to pay for this mess? Only today I heard some gibbering commentator claiming that the fighting in Somalia is seriously affecting commodity prices.
...so nothing to do with gentle Ben and his magic money making machne then?
African't mine their own resources. They're pathetic.
If whitey leaves, they will revert to the stone ages
If whitey leaves it will be with strings tied around the local "leader's" arms, legs and mouth. The leader will get lots of money, the locals will get none and things will be back to normal.
IF anyone turns up that doesn't take the "deal" to make themselves very rich at their country's expense, well then just flood the area with AK47s and stir up the locals with tales of black magic and penis stealing until someone who "gets it" is the new king of the mountain.
Yeah but nobody makes them treat their fellow people like shit. They pay them to. Big f-ing difference in my book.
Well this poster hangs in the office of a prominent Nobel Prize in economics office. See where you stand in the Pyramid of Capitalist System.
Does he have a portrait of John Maynard Keynes in his office ? Monedas 2011 Nice 19th Century Post Modern Socialist Cartoon Poster Art !
Most people think that they are in the upper levels - actually MOST people are at the bottom.
Even those who think they are wealthy are not in the pyramid of Capitalism - and the whole structure maintains itself as enough people at the bottom have the misguided belief that they can (or already have) moved up a level.
The means of production may have changed - but the old structures remain. The 'middle class' think they are on tier 2 - but actually they are at the bottom - it's just that they spend some of their earnings on nice suits and get to push a few grunts around for the big boys.
We never got a taste of Capitalism.....Scientific Socialism sucked all the air out of the laboratory ! Monedas 2011 I'm still looking for one....just one.... democracy that has enjoyed a center right bias sometime in it's history ! Even Switzerland gets failing marks ! Even Austria where the Austrian School of Economics was chiseled in sand ! Monedas 2011 We have had Socialism everywhere forever ! It's a little late in the Keynesian cycle to blame some mystical, straw dog called Capitalism ! Stop lickin' the punch bowl.....the Kool Aid's gone ???
Fits nicely atop a symbolic barrel of crude.
I thought Sinclair said Tanzania was thinking of no such "super tax"
In March "the planning commission recommended the government consider." Nothing has changed to my knowledge and article provides no update.
The thing about political winds is that they change, quickly.
With the exception of a privileged few, I expect all miners to eventually be hollowed out worldwide, as it will fit into the Marxist "death of capitalism" meme.
The Death of Capitalism was the Mother of all abortions.......but that doesn't stop the left from slicing and dicing the poor little tissue mass ! I agree that miners are in trouble ! The same people who are jousting with Capitalism's Ghost.......still think stock owners have rights ! Monedas 2011 Happy to be Capitalism's Sancho Panza !
If you can take any commodity contract, delivered goods, home in the trunk of your Yugo.......that's money in the NWO definition ! Monedas 2011 Comedy Jihad World Tour
As natural resources dwindle, less will be owned by Corps. Hopefully.
The rapid concentration of wealth, opportunity, ownership is historically recurrent and does not end well. Those revered "animal spirits" are a two edged sword.
The solution is government, but this is not going too well. Look at the Supreme Court. The Corps now have more political power than Government. The world is just a replaceable employee.
Are you 180 degrees out of synch with reality......or was your post just a list of the areas where you are dead wrong ? Monedas 2011 An older but wiser fool ?
Funny, I'd say that the problem is government, but perhaps I'm just jaded?
I love the way these liberals waltz in here with their Madison Ave. power of suggestion conceit fully intact while their Keynesian pants are accordioned around their ankles ! Monedas 2011 Comedy Jihad World Tour
Saudi Arabia is loyal to the US, no matter the president. Dont see why they should make a special effort for Obama. They are probably friendlier with the Bush due to numerous personal ties (president Bush got richer through ME wars and has many investments in the area)
Committment of SA is independent of presidency.
Step 1 - Eliminate the northern leader who called for a stronger African Union and more control over their resources.
Step 2 - Shore up support in the south with a FLOTUS puff run.
Step 3 - Squeeze the middle for resource access using standard playbook. Start with the usual bribes and progress to other items as needed. Use the CIA to foment unrest and to start a separatist group, label as a terrorist state, invade to promote human rights.
step 4 ........
Step 5 Profit!
LOL, love any 'Underpants Gnome' themed post.
How about this...how about let them develop their own resources.
We were pumping oil here for 80 years before the ragheads had any clue there was black gold under their camels
Couldn't agree more, but not gonna happen as long as there are politicians willing to sell their soul and their constituents into slavery to be in power.
For every tax or concession to unions in the 3rd world on miners, determine the actual cost. In some cases this might double the current commodity price, for the PMs especially. And for the PMs especially, can outright confiscation be in the mix?
Martin Armstrong has a contrian view of the gold price going into 2012 (it will fall into the low 1400's or high 1300's for the rest of the year). This guy is not a prophet by any means, but he has had some good calls and a balanced opinion is warranted.
They already want the precious!!! Bastards.
An overdue transfer of wealth from the shareholders of international commodity corporations to the nationals of the countries with the wealth in the ground?
Happened to oil decades ago. Why has it taken so long for other commodities?
If underdeveloped countries start doing this, will developed countries follow? Canada gets very low royalties for its commodities. Copper shipped to Japan at not much over the cost of production, with all the profit to the mining company.
As both a shareholder and a taxpayer, I have no idea what the correct balance is.
However, if the part of the final cost that is the result of speculation on and maniuplation of commodity markets could be taxed more heavily that would be ok with me.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.