Weak End B4 The Bell
193 replies to this topic
Posted 26 March 2004 - 06:16 PM
Great news for silver. A highly successful secondary offer for the Central Fund of Canada today:
Central Fund Underwriter Exercises Option
DOW JONES NEWSWIRES
March 26, 2004 2:57 p.m.
TORONTO -- The underwriter of Central Fund of Canada Ltd.'s (CEF) previously announced share offering has fully exercised its option to purchase an additional 2.5 million Class A shares of the company, for added proceeds to Central Fund of about $14.63 million.
In a news release, Central Fund said the underwriter, CIBC World Markets Inc., agreed earlier Friday to underwrite 17 million Class A shares for gross proceeds of $99.45 million.
The shares are being offered at $5.85 each.
Central Fund said the additional net proceeds will be substantially invested in gold and silver bullion. Central Fund is a refined gold and silver bullion holding company.
According to the TSX Web site, the company had about 59.8 million Class A shares outstanding as of Thursday's close.
About $60 million will go to buy silver bullion. If there really is a shortage of silver, we will know it when Central Fund takes delivery.
Posted 26 March 2004 - 06:29 PM
For those of you who misssed the significance of the past 24 hours...shit was blowing-up or burning in several locations around the country (yes...there are terrorists in our homeland, and yes - they are doing bad stuff), your President was humping Real Estate while the Ten Year Bond was collapsing and the Yield was ramping, yesterday's ramp job and todays attempted follow through were miserable failures, gold is breaking out regardless of anything else...and whether or not we continue to see tanker-trucks closing down entire highways over the coming weekend (as with the obvious terror incident on I-95 in connecticut last night)...it's going to be ugly next week.
All of the dip buyers over the past two days have the weekend to contemplate just what the hell they were thinking. I regret to inform you...we are in some deep shit.
What looked like a bounce level was a head fake. The charts don't know what your gut knows. Assume that something that doesn't look like an accident...isn't. Gold will go up, the dollar will go down, foreigners will stop buying Treasuries, the stock market is toast, inflation is here - big time...the Housing bubble is going to burst in the next two months, and EVERYTHING tied to it is going down.
If you want my opinion..just ask.
Posted 26 March 2004 - 06:34 PM
Two comets are also on the way in a few months...Both will be visible at the same time...one of the is billed as the brightest in living human memory...
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...
Posted 26 March 2004 - 06:58 PM
One thing to consider:
"Public Works Projects" are the only hope for employing the millions of unemployed former factory workers in our formerly industrial country. The "Skills Retraining" being recommended by the suits in D.C should include operating heavy equipment...since our future jobs growth programs will center around the rebuilding of our country's aging infrastructure, specifically...its roads and bridges.
Any future news broadcasts that point to the accidental destruction of roads and bridges around the United States is purely coincidental.
Posted 26 March 2004 - 07:13 PM
This is were the bushman will get 200,000 new hires per month.
If we did not have the freeze across large parts of the nation, they would have already hired 200,000 per month.
The weather is warming and the tax base of the nation are going to put out a bunch of money to put in roads, ect, every where.
Hey it is only paper.
Posted 26 March 2004 - 07:53 PM
March 26, 2004 04:29 PM US Eastern Timezone
U.S. Wireless Data Files for Bankruptcy; Company to Sell Substantially All its Assets
NEW YORK--(BUSINESS WIRE)--March 26, 2004--U.S. Wireless Data, Inc. ("USWD") (OTC.BB:USWE), a leader in wireless transaction processing, announced today that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code, in the U.S. Bankruptcy Court for the Southern District of New York. The company filed its petition to effect the sales of its two primary business activities which, together, represent substantially all the company's assets.
Posted 26 March 2004 - 08:05 PM
Cnn is running a headline article whereby a top Iraqi Cleric is calling for more resistance because of Bush's support of Israel on the Sistani asassination. Reuters reports thousands have demonstrated against their Prez Musharaff in Pakistan for his aid in the hunt for Bin Laden and Zawhiri's tape calling for his overthrow-this is NOT getting any better any time soon.
Posted 26 March 2004 - 09:11 PM
Currently airing on The Discovery Channel:
The Repossessors 2
Find out what happens when the bills remain unpaid. In a world of excitement and adrenaline, the country's top repossessors attempt to take back over $500,000 worth of defaulted property.
I think I found the next growth industry: Repo Man.
Posted 26 March 2004 - 09:20 PM
This little chart just threw a preliminary buy signal...at this point I am not sure I buy it, but I will respect it.
Closed out most longs for nice profits this afternoon. Then added to shorts,
but am hedged enough to not worry about a monday relief rally if we get through this weekend in one piece and the media can polish up the dismal political arena.
Sold my GG, bought BGO. Covered my lazy boy LZB - he fell asleep after falling out of his chair the other day.
Good day and week. Patience has been the key - that and shorting the rallies
Posted 26 March 2004 - 09:20 PM
Roots Of The Neo-Con Junta
AN ESSAY TO EXPLORE THE ROOTS OF THE CURRENT NEO-CONSERVATIVE JUNTA IN WASHINGTON.
By Paul Kincaid Jamieson <email@example.com>
In this essay I will argue that commonalties in early academic life and early political employment led to the creation of a core group of thinkers who have an inordinate amount of power and influence in the current administration of George W. Bush.
I will argue that the philosophical genesis stems from the writings and teachings of Leo Strauss, furthered by the writings and teachings of Alan Bloom, and the writings and influence of Irving Kristol.
I will argue that the strategic military thought stems directly from the writings and teachings of Albert Wohlstetter, Herman Kahn, and Democratic senator Henry "Scoop" Jackson.
I will argue that there is a direct connection between the followers of Straussian thought and Wohlstetterís belief in next-generation warfare.
I will conclude with a projection for future conflict based on current US Military doctrine and theory.
Posted 26 March 2004 - 09:27 PM
Neighbors spurn U.S.-backed Haitian rulers
Community asks U.N. to investigate Aristide abduction claims
The Associated Press
Updated: 7:19 p.m.†ET March† 26, 2004
BASSETERRE, St. Kitts - The 15-nation Caribbean Community has decided against recognizing Haitiís new U.S.-backed government, senior Caribbean officials said Friday.
advertisementRegional leaders reached a consensus decision on the issue during the second and final day of a summit, several senior officials said on condition of anonymity.
The move came a day after the leaders demanded that the U.N. General Assembly investigate ousted President Jean-Bertrand Aristideís claims that he was abducted at gunpoint by U.S. agents when he left as rebels threatened to attack Haitiís capital.
Posted 26 March 2004 - 10:08 PM
Canada's National newscast- lead story-On the tumult in Taiwan which today included the National Election Commission upholding the election results and the riot that followed-citing sources that if the tumult continues China will intervene Militarily. 2nd Lead- America's National Parks will close on the weekends this summer to save money. The first story is one I have been pounding the table on for months and is scary-the second one not only shows the house of cards is crumbling but that the solution from the Administration is STUPID-if you had to close to save money-during the week would make sense even to a moron. Closing on the weekend when Americans and Tourists want to use the parks has to come from the brain of an Idiot!
Posted 26 March 2004 - 10:26 PM
Hmmm...let's see, the most beautiful parks in the world, emptied of all those great unwashed masses during every weekend of the coming summer. Now who do you suppose will be afforded "special access" to those parks on the weekends?
What a coup for those select few beltway elite, to enjoy our National Parks as if they were their very own country clubs. Now I more fully understand why Price, Watahose, Coopers issued a recent study suggesting there would not be enough hotel rooms to go around this summer.
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